The reason the private sector invests 84% or 85% of its total investment in corn, soybeans, and canola is that they can recover their costs. Right now, in cereals in particular, they can't. The example I gave you of FT Wonder in Ontario is a pretty good example of that.
The private sector is gearing up to invest. They have a much more positive outlook with some of the changes government has made in regulatory areas and others. Bill C-18 certainly is a strong contributor to that. They are gearing up to invest. Where in 2007 they had predicted that they would only be investing about 2% of their investments in wheat, they're up to about 8% in 2012. They actually have turned more towards wheat because of some of the encouraging signs they're seeing.
I think there's still some work to do. Some of that work includes things like making sure our regulatory system is more nimble and flexible. We have been waiting for a simple regulatory change around the placement of soybean and variety registration, for example, for three years now, and it's just a simple regulatory change. We need to have a flexible regulatory system.
Canada is very well positioned to make a strong contribution and, I would submit, lead the effort to feed a growing population. We just need to make sure we have the environment, the policy and regulatory environment, in place to do that.