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Tag Archives grain contracts

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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
wheat grains in a person't hand
Crops, News

KAP says do homework before selling grain to unfamiliar buyers

History shows sometimes even trusted companies burn farmers

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Sellers beware! In the post-monopoly wheat board era many new, unfamiliar grain buyers, often American, are offering to buy western Canadian grain. The Keystone Agricultural Producers (KAP) says farmers should do their homework before striking deals to avoid getting burned. “People will spend two weeks researching which cultivator shovel to buy so it doesn’t wear

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