The Prince Edward Island Grain Elevators Corporation today announced the initial grain payments for the 1999-2000 crop year will be sharply higher than last year. The initial payments per tonne for grain delivered to the elevators will be $102 for barley, $119 for wheat and $93.50 for both oats and mixed grain. The initial price for soybeans will be established prior to the harvest.
Alan Ling, Chairman of the Corporation, also announced a number of further changes which apply to this year's crop. Drying charges will not apply on barley until the moisture exceeds 15.5 percent. In previous years, drying charges were applied on levels over 14.8 percent. The Corporation will also discontinue bonus payments or deductions based on protein.
Mr. Ling also said that growers will be given the option of accepting a cash price established daily on a portion of their deliveries.
"These are changes that our growers recommended during the series of meetings held across the province last spring," said Mr. Ling. "These and other changes will provide further benefits to growers using our services."
Mr. Ling said that grain crop yields are expected to be lower and livestock numbers higher, and he is looking forward to increased demand and improved returns for producers.
The initial payments will be made within 15 days of delivery. Drying costs, where applicable, are deducted from the initial payment. Additional interim payments will be made as market conditions warrant.
Mr. Ling said growers are encouraged to book delivery space requirements as early as possible. There is also a home storage program for later delivery, and growers may contact the elevator managers for details.
The Grain Elevators Corporation is the largest dealer and marketer of grains and oilseeds in the province. It also provides storage, cleaning, drying and extrusion services.
For more information, contact Alan Ling, Chairman, Grain Elevators Corporation, (902) 964-2721.