GFM Network News


“The way forward has been deeply clouded by the second wave and renewed restrictions, so growth will cool considerably in Q4.” – Doug Porter, chief economist, BMO Capital Markets.

Canada economy grew through September, but way forward ‘clouded’

As the pandemic’s second wave arrives uncertainty abounds

The Canadian economy grew in both August and September, with the August gain slightly above expectations, but a rise in COVID-19 infections, along with targeted restrictions to curb the virus, are expected to put a lid on economic activity into the fall. Canada’s real GDP rose 1.2 per cent in August, ahead of analyst estimates

Opinion: Reason for cautious optimism after throne speech

The biggest-ticket item for farmers in the government’s upcoming plans is better rural internet

The recent throne speech was predictably light on specifics, but producers should be cautiously optimistic about most of the ambitious legislative plans laid out by the minority governing Liberals. The biggest potential win comes in Prime Minister Justin Trudeau’s commitment to enhance rural broadband access. “In the last six months, many more people have worked


Navigating through the COVID-19 black swan

Average and below-average business managers are the most at risk during the pandemic

Black swan” is a metaphor to describe an unpredictable, widespread but exceptionally rare event that takes everyone by surprise. It’s a term often used in agriculture to describe unique events like the dust bowl of the 1930s when drought ravaged the agricultural industry in North America. Without question, the COVID-19 pandemic qualifies as one of

A program distributing food – particularly perishables – to help feed Canadians who would otherwise not be fed is admirable.

Opinion: Food recovery program should be permanent and expanded

The program isn’t a true win for farmers, but it’s better than food waste and total losses

Now that we know more about how the Surplus Food Rescue program will work, there should be a recognition for its need beyond the COVID-19 pandemic. The program was announced as part the federal pandemic response and comes with $50 million in funding to help move extra food to vulnerable Canadians. Now that details are available, there is clear indication the program

Going down: the true farm income picture

Farmers have seen their wealth creation scooped up by others for decades

Farm income up in 2019” was the front-page headline in the June 4 Co-operator. Though superficially true, a closer look at the numbers demonstrates the opposite, and reveals a troubling picture. How we measure and report farm income matters. Net cash income, the measure used in the June 4 story, omits depreciation — the value


U.S. livestock: Cattle, hog futures down on big supplies, economic jitters

Surge in U.S. COVID-19 cases rattles Wall Street

Chicago | Reuters — U.S. cattle futures eased on Wednesday and hog futures were mostly lower on ample livestock supplies and concerns about rising coronavirus infections and their negative impact on the economy. Wall Street’s three major indexes tumbled on Wednesday and crude oil plunged more than five per cent as a surge in U.S.

Most of the time markets move in what can be considered a sideways trend.

Expect the unexpected in markets

When the unexpected hits, price variation can exceed the expected very quickly

Last article, I talked about managing risk and uncertainty in the markets. As you might recall, there is an important difference between the two. Risk estimates everything we think might happen. Risk is our guess about what the future holds. More precisely, it is the range of things that might happen and how probable each

Editor’s Take: Who’d have thought?

It’s been another week of surprises. Who’d have thought we’d see gasoline prices below 60 cents a litre again? Who’d have thought we’d see the federal government backstopping 75 per cent of the wage bill for the entire country? Who’d have guessed the concept of a universal basic income would suddenly be on the minds


Coronavirus pain muted for ag

Farmers hurting more from past problems than COVID-19 so far

COVID-19 may hurt Canadian farmers in the future, but for most commodities, other than cattle, there hasn’t been a huge impact, says Agriculture and Agri-Food Minister Marie-Claude Bibeau. “Actually the food sector might be one of those that will be the least impacted because we will keep eating during the crisis so I don’t see

Facing a cliff of seeing 86 per cent of their farms’ total profit vanishing upon leaving the European Union, why exactly did U.K. farmers heavily favour Brexit?

Comment: Brexit, Boris, and boxing in U.K. farmers

When U.K. farmers voted heavily for Brexit it was an act of either faith or foolishness

Events, like stars, can at times align just enough for you to glimpse your destiny. If you’re lucky, that sneak peek is the critical break you need for success; if you’re unlucky, the starry view spins off into the universe unseen. Farmers in the United Kingdom got that peek after the June 2016 vote that