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Many farmers priced and contracted grain deliveries in 2021-22 but yields were heavily impacted due to drought.
News

Oversold forward contracts ongoing issue at KAP

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The Keystone Agricultural Producers (KAP) wants to help members — but sometimes finding a solution that pleases everyone is tough. Take for example the plight of many farmers who priced and contracted to deliver more grain to elevators in 2021-22 than they produced due to the drought. Wilfred (Butch) Harder, who farms at Lowe Farm, complained during KAP’s districts meeting online Dec.
Farmers whose drought-stricken crops faced yield shortfalls can claim any contract losses as eligible AgriStability expenses.
News

Grain contract losses an eligible AgriStability expense

The NFU wants a mandatory ‘act of God’ contract clause but a veteran grain trader says it won’t fly

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Farmers who lost money because they forward sold more crop than they grew can claim that as an expense under AgriStability. And Manitoba farmers not enrolled can still join the risk management program, but with a 20 per cent penalty on payouts. That’s the message Stewart Wells wants every farmer to hear. The Swift Current,
Delivery contracts drew discussion at a recent KAP virtual meeting.
News

KAP favours education over grain contract involvement

Keystone Agricultural Producers says it has ‘overwhelming’ support from members not to interfere in contracts

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The Keystone Agricultural Producers (KAP) says it will focus on educating farmers about grain delivery contracts and encourage grain companies to improve them. It won’t seek retroactive changes to help farmers who can’t fulfil their contracts because of this year’s drought. “As an industry we need to be aware of the long-term implications of what
Growers need to remember crops fail and consider using futures and options to lock in prices rather than only delivery contracts, says a Manitoba lawyer.
Crops, News

Past season a reminder crops can fail

Grain companies and farmers getting closer to resolving unfilled delivery contracts

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After years of great crops farmers were reminded they can fail, says Manitoba lawyer and farmer John Stewart. Unfortunately for some, they contracted more grain than they grew. “What has happened is that farmers have become very cavalier,” Stewart said in an interview Oct. 21. “With modern seeding practices and modern equipment, with new genetics,
(GFM file photo)
Crops, Markets

Cargill, ADM sell GrainBridge to ag software firm Bushel

'Network effect' expected in grains sector

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An online service farmers use to manage grain sales with ADM’s elevators and processing plants across Canada — along with Cargill and ADM elevators in the U.S. — is under new ownership. ADM and Cargill, the two major U.S.-based agribusinesses that set up GrainBridge in 2019, announced Tuesday they’ve sold it to Bushel, a Fargo,
Hot, dry weather through the summer kept crop yields down this season.
News

Grain industry wrestles with unfulfilled grain contracts

Because of drought some farmers sold more grain than they grew and face big bills to buy back their contracts

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Farmers who contracted to deliver a portion of this year’s crop at a specific price but can’t fill it because drought cut production have a problem. Depending on the contract they are obliged to either find the equivalent grain elsewhere and deliver it, or pay the grain company what it costs to acquire the grain.
“We see crop disappearing every day because of the dry condition in the Prairies, and we see record prices at the same time.” – Ward Toma.
Grain Markets, News

Drought-battered farmers facing another crisis — contract penalties

Deadly combo of crop failures and sky-high prices leave some facing huge penalties on unfulfilled contracts

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Glacier FarmMedia – The drought is squeezing producers from all sides, with many facing another calamity — not having enough crop to fulfil their grain contracts. “There are issues because the drought is so widespread,” said Jason Saunders, vice-chair of Alberta Wheat who farms near Taber, Alta. “There was aggressive forward contracting on canola and
Farmers often don’t pay attention to the fine print in grain contracts until there’s a problem, which is when it’s too late.
News

Read the fine print

Novel grain contracts require closer scrutiny

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A spate of cases involving a Regina-based canola buyer has farmers across the Prairies paying attention to a legal drama between Saskatchewan producers and Input Capital, which has offered long-term “streaming contracts” for canola. In early May, CBC reported on a class-action lawsuit with six producers accusing the company of predatory lending. Morris Feduk, a
Opinion: What’s the futures market telling us?
Opinion

Opinion: What’s the futures market telling us?

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“Listen to what the futures market is telling you.” That came up in our news feed again last week, and it’s one of those phrases for which you’d like to have a dollar for every time you’ve heard it. It ranks slightly below the frequency for which you’ve heard a grain market adviser tell you

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