TRAILER FEE FACTORS FOR THE QUARTER ENDED
MARCH 31, 2007

Trailer fee calculations are based on the weighted average trading commitment over the quarter. As with previous adjustments, the effect of the reduction (increase) in assets allocated to the futures trading program in each separate Note is a proportionate reduction (increase) in all fees and expenses, including fees payable to Tricycle. Accordingly, trailer fees payable to selling group members will be adjusted.

COMPENSATION

		Attractive and competitive placement fees Commission Structure† :
3%		Placement Fee: Dealers will be paid 3% in the month in which they sell the product (as soon as the money is recieved in The Canadian Wheat Board fixed income account).
2.91%		Trailer fee for the period ending December 31, 2005††
0.625%		Trailer fee for the 3 month period ending March 31, 2006
0.625%		Period ending: March, June, September, December. These quarterly payments equal 2.5% per annum.
Trailer fees are a percentage of current Net Asset Value (NAV). * † The agency agreement and the master selling agreement govern the Compensation terms. For further details, please refer to the Information Statement. †† If the closing date changes, the date of the first trailer fee and trailer fee amount may also be subject to change. December 31,2005 trailer fee is 14/12 of 2.5%.
* Note: upon closing of the offering, (after payment of placement fees to the dealer), the Notes begin with Net Asset Value (NAV) of $100 All compensations is funded out of the fees and expenses of the Notes