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,
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.
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
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
CNS Canada — “If you build it, they won’t always come” turned out to be the case with ICE Futures Canada’s grain contracts, as they were finally delisted Thursday after years of little to no activity. Milling wheat and durum futures were introduced by ICE Futures Canada in 2012 in response to the end of
“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
Do you read your grain contracts from front to back? If so, you’re one of the few who do. A University of Manitoba study found only 17 per cent of Canadian farmers read their whole grain contracts — and that’s a mistake, says a grain industry expert. “For every grain buyer out there, the terms
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