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Cereals, Hogs, News, Pulses

Colombia FTA seen securing crop markets

Prairie grain and pulse crop producers expect to gain from Canada’s signature Nov. 21 on a free trade agreement (FTA) with Colombia. The Canadian Wheat Board is now urging Parliament to ratify the deal and secure Canada’s $100 million wheat market worth of wheat and $23 million of malting barley to Colombia each year. According
News, Poultry

A Pilgrim’s Pride bankruptcy may help rivals

Any bankruptcy filing by Pilgrim’s Pride Corp., the largest U. S. chicken producer, could support higher pricing for the entire poultry industry as capacity is taken out, Fitch Rating said Nov. 18. A Pilgrim’s Pride bankruptcy looks “pretty inevitable,” given that the company has hired a restructuring adviser and is exercising a grace period for
Opinion

Crisis remakes the commodity business

By
Only the brave or the foolish would make predictions about the future amid the biggest market upheaval in three generations. But it is already clear the crisis is profoundly reshaping the commodity trading industry. The mix of intermediaries, customers and financial resources are all being substantially redrawn. So here are some tentative thoughts on how
Other

Russian Grain Union proposes export subsidies

The Russian Grain Union has asked the government to provide export subsidies to help the country’s suppliers overcome the global financial crisis and make the most of the best crop in 15 years, the union’s head said Nov. 13. Arkady Zlochevsky told Reuters Russian grain exports would reach 12 million tonnes between July and December
News

EU spotlights large farms in subsidy reform debate

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Europe’s farmers, especially the wealthiest ones, may see the end of a string of “old-style” subsidy schemes next year as agriculture ministers negotiate the most ambitious policy reforms in five years. European Union farm ministers met Nov. 19 to negotiate and finalize an agreement on a series of proposed changes to the Common Agricultural Policy
Livestock Markets

Businesses see U. S. economy downshifting

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U. S. business conditions took a sharp downturn in the third quarter and the near-term outlook is even more gloomy, according to a quarterly survey conducted by the National Association for Business Economics. For the first time since 2001, more respondents pointed to declines rather than growth in demand for their firms’ goods and services.
Other

Province’s hail claims above average

Manitoba farmers filed over 3,500 insurance claims for hail damage during the 2008 growing season, which according to the Canadian Crop Hail Association is above the province’s five-year average. Manitobans can expect about $16 million in paid-out claims for the $46 million they paid in premiums, making their average payout per claim “much lower” than
News

UN food lines will grow

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The UN food agency expects to feed around a third more hungry people next year, as the global financial crisis adds to the pressure of high food prices on poor nations, a top official said Oct. 15. Sheila Sisulu, deputy executive director at the UN World Food Program (WFP), said an increase of around 30
News

Ocean trade choked as credit notes dry up

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There is growing evidence the global credit crisis is stifling seaborne trade as banks become more reluctant to honour crucial letters of credit between buyers and sellers who ship goods and resources, analysts say. “With reports of sellers’ banks deciding they don’t trust the financial institutions named in buyers’ letters of credit, have come alarming
Crops, Opinion

Farm earnings up, but so is risk

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The year 2008 has been good for most farmers. Good yields and prices result in profits to invest. While the temptation is great to buy new equipment, land or other assets, now may be the time to build working capital. “Farmers make their worst management decisions during good times,” David Kohl, professor emeritus from Virginia

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