Madam Chair, it is good to be here tonight. I want to acknowledge the minister's willingness to be here tonight and his patience with the questions he has been asked. The knowledge that he shows on his files and portfolio has been outstanding and very impressive. I would also like to acknowledge the team that works with him on the ag committee. It is a team of very knowledgeable people. One of the things I notice about the caucus on this side of the House as opposed to the other side is that we have farmers over here. We have producers. We have people who work on the ground, who work the land. It seems to be very difficult to find any of those on the other side.
The challenge we face is how we allow our farmers to be competitive. In one area, this government is committed to bringing market choice to western Canada in order to make our farmers competitive. Under the strong leadership of the Prime Minister and the Minister of Agriculture and Agri-Food, the Government of Canada will continue to fight for farmers' freedom. The government will keep working with western Canadian grain farmers to ensure that they get the freedom they want.
We are going to continue to work to ensure transparency for producers and taxpayers as well. I am going to talk about that later. The CWB had significant losses in the financial markets in the 2007-08 marketing year. There has been no public performance review of the programs that caused those losses. I would like to look at CWB's ability to market grain. There is a lot of emotion attached to this issue. The best thing we could do is look at the results that have been studied that show what the Canadian Wheat Board is actually doing.
The Data Transmission Network, or DTN, has been an innovator in production and delivery of news and information since 1984. It is a trusted source that gathers agricultural information and publishes it. The DTN tells us that the average of U.S. elevator bid prices shows that for the last three years, the Canadian Wheat Board has earned less than farmers south of the border. This is one of the reasons western Canadian farmers are very unhappy with their marketing situation.
In 2007-08, the Wheat Board's final price on red spring with 13.5% protein was $1.70 a bushel below the U.S. average market price for similar wheat. The year before, the Wheat Board final was $1.17 per bushel below. The year before that, the Wheat Board again fell short of the U.S. average price by about 70¢ a bushel. I want to point out that it went from 70¢ to $1.17. Last year when the Wheat Board was touting itself as a huge success story, its final wheat price was actually $1.70 a bushel below the average posted in the United States.