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Farmers want heavy frost to help dry bumper corn crop

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“We’ve harvested lots of corn late in the past. We just haven’t done it in a while. It’ll be a good experience for some of these young guys.” – Shawn McCutcheon Until a few weeks ago Manitoba corn farmers were praying it wouldn’t freeze; now a hard, killing frost is exactly what they want to
News

Ethanol no longer seen as big driver of food price

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Heavy demand for corn from ethanol makers was seen as a key driver of corn futures to record highs in June, but since then the sharp decline of corn along with other commodities shows that belief was mistaken. Corn is down about 50 per cent from its record high in June, even as the amount
Cereals, Crops, News

CWB eyes bigger exports

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The Canadian Wheat Board expects to export about 14 per cent more grain in the year ending July 31, 2009, than initially forecast because of a better-than-expected harvest, its chief operating officer said Oct. 22. The global financial crisis has pressured grain prices as funds and other investors bailed out of commodities, but, overall, world
Cereals, News

EU restores import tariffs on cereals

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“We have now seen, since February of this year, a strong drop in prices below the level that we had actually expected.” – Mariann Fischer Boel The European Union agreed Oct. 16 to restore import tariffs on all cereals due to recent price slides in internal wheat and other key grain markets, the European Commission
Cereals, News, Oilseeds

Latin America faces pain as commodities party ends

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The end of a long global commodities boom threatens to hit Latin America harder than any other region, putting a sharp brake on its economies and pressuring government spending plans. From bulging foreign reserves and the emergence of corporate giants to the destruction of vast areas of the Amazon rainforest, booming commodity prices have reshaped
Cereals, Crops, International news

Serbian farmers get fertilizer subsidy

Serbia has offered farmers a 40 per cent discount on fertilizer prices, only weeks after farmers threatened not to use the chemicals unless the government doubled subsidies to make up for soaring production costs. Farmers said the move was welcome, but came a bit late after many of them have abandoned sowing seasonal crops, including
Cereals, Crops, Opinion

Improving the staff of life

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At first glance, the press release issued by the Canadian Wheat Board earlier this month is a classic “dog bites man” story. The board announced the vast majority of Prairie wheat farmers (88 per cent to be exact) grow varieties that are used primarily to produce bread and pasta. What’s more, this is not a
Cereals, Crops, Grain Markets, Oilseeds

Grains outlook muted by bearish economy

DON BOUSQUET It’s Your Business For three-times-daily market reports from Don Bousquet and RNI, visit “ICE Futures Canada updates” at www.manitobacooperator.ca Grain and oilseed futures at ICE Futures Canada in Winnipeg closed the week ended Oct. 17 lower, as steep declines in Chicago futures markets and the continued instability in financial markets pressured prices down.
Cereals, Crops, News, Oilseeds

China shores up falling crop prices

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China will purchase grains for reserves at prices above current market levels, set up national soybean reserves and buy grains, rapeseed and cotton, in order to help shore up incomes of farmers whose commodity prices are falling sharply. The moves are in line with a pledge by top policy-makers this month to increase rural incomes.
Cereals, Crops, News

British wheat prices may not cover costs

Wheat prices in Britain may no longer be high enough to cover even variable costs, particularly on lower-yielding land, Julian Bell, senior rural consultant at the Scottish Agricultural College said Oct. 16. Bell estimated the average variable costs for wheat production in Britain had risen to 90 pounds ($154.9) a tonne for the 2009 harvest,

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