Markets
It seems obviously a good thing that the federal government today quintupled the interest-free Cash Advance program to $500,000 and ramped-up the prime rate portion to a total of $1 million combined. I say “obviously” because I know from writing about cash advances last year that they are a topic that gets farmers fired up. […] Read more
Markets
A loan is OK for now . . .
But if the China dispute lingers, farmers will deserve cash compensation
Feds hike cash advances, extend AgriStability deadline
Ottawa has increased to $1 million the cash available to farmers under the Advance Payment Program and extended the deadline to participate in AgriStability as a result of the ongoing trade dispute with China. Agriculture Minister Marie-Claude Bibeau and International Trade Minister Jim Carr announced the measures this morning. While all farmers are eligible for […] Read more
Most Canadian pulse acres to decline in 2019
WINNIPEG – Canadian farmers have been projected to plant fewer acres of pulses, according to Statistics Canada. “Keeping in mind this is the seeding intentions report based on a survey of growers from the beginning of March. It’s as current as the day it was collected,” commented Carl Potts, executive director of Saskatchewan Pulse Growers. […] Read more
Canada promises farm aid amid China canola spat, shuns calls to pull out of Beijing-led bank
OTTAWA/WINNIPEG, Manitoba, April 30 (Reuters) – Canadian Prime Minister Justin Trudeau on Tuesday said Ottawa would soon announce help for canola farmers hurt by a China ban on imports of the oilseed but brushed off calls to pull funding for a Chinese-led investment bank. China and Canada are locked in a diplomatic and trade dispute […] Read more
Destructive pest spreads in China, threatens corn crops
BEIJING, April 30 (Reuters) – A pest that ravages corn crops is spreading in southern China, posing a growing threat to the world’s No. 2 producer of the grain, said an expert based in the country. Native to the Americas, the fall armyworm has spread east in recent years, causing as much as $3 billion […] Read more
Canola bids slide further; wheat down on large supplies
WINNIPEG – ICE Futures canola contracts were weaker on Monday, with the spread weighing on values especially for the front months. The May contract lost C$1.40 at C$438.10 per tonne and the July contract fell C$1.30 at C$444.90 per tonne. China’s ban on canola imports from Canada and farmers in the United States switching from […] Read more
Canadian farm exports run into Chinese wall amid diplomatic dispute
WINNIPEG, Manitoba/BEIJING, April 29 (Reuters) – An expanding list of Canadian farm exports is hitting obstacles at Chinese ports, leaving sellers of soybeans, peas and pork scrambling amid a bitter diplomatic dispute. China has already blocked Canadian canola from Richardson International and Viterra, two of Canada’s biggest farm exporters, saying that shipments had pests. Other […] Read more
Canola still dropping; wheat weaker
WINNIPEG – ICE Futures canola contracts were weaker on Friday, with the spread weighing on values. A Winnipeg-based trader commented rolling out of May into July was a major feature. Also weighing on values were: China’s ban on canola imports from Canada, a huge South American soybean crop, and farmers in the United States switching […] Read more
Bayer shareholders vent ire over Monsanto-linked stock rout
BONN, April 26 (Reuters) – Bayer shareholders vented their anger over its stock price slump on Friday as litigation risks mount from the German drugmaker’s $63 billion takeover of seed maker Monsanto. Several large investors said they will not support aspirin invesotr Bayer’s management in a key vote scheduled for the end of its annual […] Read more
Archer Daniels Midland 1st-qtr profit falls 41 pct
April 26 (Reuters) – U.S. grains merchant Archer Daniels Midland Co reported a 41 percent drop in first-quarter profit on Friday, following floods and severe weather conditions that hit the U.S. Midwest earlier this year. Net earnings attributable to the company fell to $233 million, or 41 cents per share, in the three months ended […] Read more
