Glencore’s Viterra takeover wins federal government blessing

Commodity giant Glencore’s “commitments to Canada” and Canadian farmers in its proposed takeover of the country’s biggest grain handler have earned the federal government’s formal approval of the deal. Federal Industry Minister Christian Paradis on Sunday announced he has approved Glencore International’s application under the Investment Canada Act for its friendly takeover of Viterra, which

Prairie feed barley bids strong

Cash bids for barley across Western Canada have seen an increase from last year. Limited supply on the Prairies and adverse weather conditions in the U.S. have contributed to the higher prices, particularly in Alberta. Bids at Lethbridge have moved up to anywhere between $5.75 and nearly $5.95 per bushel delivered to the feedlots, almost



New CWB focuses on Western Canada

But it can now extend its reach Starting Aug. 1 the new CWB will be able to buy and sell grain of any type from anywhere in Canada, but its immediate focus is its traditional territory — Western Canada. “We have no immediate plans to do business in other parts of Canada,” CWB spokesperson Maureen


CBOT, grain traders face off in court

chicago / reuters / CME Group faced off with a group of traders in Federal Court June 26 over new rules for settling end-of-day grain prices that the traders fear will put them out of business. The traders, who work in the open-outcry pits at CME’s Chicago Board of Trade, are fighting to preserve a

Ottawa allocates $349 million for voluntary CWB

The money, similar to what the former 
directors estimated, 
will cover open-market 
transition costs

The federal government will spend up to $349 million to cover the Canadian Wheat Board’s (CWB) extraordinary costs as it moves to an open market Aug. 1. “The CWB must be as nimble, flexible and efficient as possible without being encumbered with costs related to the past,” Agriculture Minister Gerry Ritz said at a news



Spring wheat posts its highest price of open-market era

Watch for rising wedges in bear markets and falling wedges in bull markets, where they are most apt to occur

Red spring wheat grading No. 1 13.5 per cent protein reached $8 per bushel for the 2012-13 crop year. This is the highest price farmers have been able to lock in, since the open-market era was announced in mid-December 2011. True to form, wheat prices began their seasonal turn higher, just as the U.S. winter



Appeal Court upholds “marketing freedom” law

Agriculture Minister Gerry Ritz didn’t break the law by introducing legislation to end the Canadian Wheat Board’s monopoly, the Federal Court of Appeal has ruled. “We are pleased with this decision,” Ritz said in an email. In December, Federal Court Justice Douglas Campbell agreed with the Friends of the Canadian Wheat Board that Ritz breached