Madam Speaker, one question farmers in my riding have asked me is, what it is they need to know between now and when marketing freedom comes into effect on August 1, 2012. They want to know because they need market certainty and they need to make economic decisions in the new year before planting begins.
I tell producers in my riding that they would be able to forward contract wheat and barley sales for delivery after August 1, 2012. I tell them that grain companies, end users and the Canadian Wheat Board would be able to offer farmers contracts for delivery after August 1, 2012. I also tell them they would be able to buy and sell futures contracts on wheat and barley with delivery dates after August 1, 2012. The Winnipeg Commodity Exchange has announced plans to offer new Canadian wheat and durum contracts if the legislation is passed. I also tell producers in my riding that they would be able to deliver grain in storage for later sale to the CWB before August 1, 2012.
Could the minister tell the House, if the bill is not passed immediately, what the economic impact would be for farmers?