CashPlus was a good deal for 08-09

The Canadian Malting Industry Association is saying the top-up payment for the CashPlus program should be $25 a tonne. The Canadian Wheat Board says the returns achieved throughout the crop year averaged $19.15 a tonne higher than the amount paid to producers in upfront, guaranteed prices. From this amount $6.26 per tonne was deducted for various expenses. The net result is that $12.89 a tonne or about 28 cents a bushel will be going to the more than 1,200 Prairie farmers who participated in the CashPlus program for malting barley in the 2008-09 crop year. The Western Barley Growers Association, Saskatchewan MP David Anderson and the Western Canadian Wheat Growers have all issued news releases claiming money has gone missing and farmers should be receiving more, but they don’t seem to have any tangible evidence. Rhetoric aside, as one of the producers who participated in CashPlus, I’m pleased. The program guaranteed me $6.50 a bushel and now I’ll be receiving a top-up of 28 cents. By comparison, malting barley in the regular pool account is only going to generate about $5.40 a bushel. Producers who locked in early through CashPlus earned an extra $1.40 a bushel. For me, criticism of the program rings rather hollow. I’m Kevin Hursh.