GFM Network News


CBOT March 2021 soybeans with 20-, 30- and 50-day moving averages. (Barchart)

U.S. grains: Soybeans fall on South American rainfall

Russian export tax supports U.S. wheat; corn follows soybeans

Chicago | Reuters — Chicago soybean futures slid on Tuesday as rain across South America strengthened crop prospects and bolstered the global supply outlook, traders said. Corn followed soybeans lower, but was supported by strong export demand and possible export limits in Ukraine. Wheat futures fell slightly, but were bolstered by an export tax in

CBOT March 2021 wheat with 20-, 50- and 100-day moving averages. (Barchart)

U.S. grains: Wheat soars as Russia eyes export curbs

Tightening supplies underpin corn, soybeans

Chicago | Reuters — U.S. wheat futures surged on Friday on concerns about thinning global supplies after the U.S. Department of Agriculture (USDA) slashed its grain stocks outlook and as top supplier Russia pondered export curbs. Corn and soy futures also rose as tightening supplies, particularly of soybeans, and lingering concerns about South American crops


Taxing times

Taxing times

Rising farmland values means farmers are paying more education taxes relative to other property owners

When farmers wrap up harvest and open property tax bills, some will be in for a nasty surprise. Bill Toews of Kane certainly was. The retired farmer says the total tax bill (municipal and education) on one of his quarter sections in the Rural Municipality of Roland jumped $1,004, up 30 per cent from last


While the most concerning proposed small corporation tax reforms have been shelved there are still a couple of areas of concern, MNP accountant Mike Poole told KAP’s recent advisory council meeting.

Still some potential pitfalls in proposed federal tax reforms

Accountant hopes effects are manageable

The federal government’s revised tax change proposals have got rid of the most egregious problems, but a few provisions could still cost farmers money. That’s according to Mike Poole, a Brandon-based accountant with MNP, at a recent Keystone Agricultural Producers (KAP) advisory meeting. “I think it’s relatively small and manageable,” Poole told reporters after speaking


Comment: The loudest voices against tax reform are not neutral

Almost absent in the debate about proposed Canadian changes are any voices defending 
the idea of tax fairness

Federal Finance Minister Bill Morneau’s proposals for tightening tax breaks associated with private companies is generating several kinds of response on social media and in mainstream media. The most evident is an impressive deluge of evidence-free rhetoric claiming that the proposals are an attack on everything from the middle class to maternity leave for female

Bill Morneau's proposal on federal tax reform has been a

Comment: Death, taxes, and food

Getting taxation right for the agriculture and food sectors will require something other than one-size-fits-all thinking

Up until recently there were two things certain in life: death and taxes. We can now add a third one: Botching the promotion of a tax reform for political gains. Finance Minister Bill Morneau’s tax reform has been a communication disaster. Various claims made about Ottawa’s intentions to revamp our tax system for small corporations

Farmer in wheat field

Opinion: Proposed tax changes for corporations poorly structured

The current proposals will stifle business and create unfairness

In July the prime minister of Canada and the federal finance minister introduced proposals that, if enacted, will fundamentally change how small business in Canada operates. Since that unveiling of proposals, debate on the merits of each point has been impassioned. Debate has since polarized along ideological dogma. Canadian society must decide where they wish


Farmers busy with harvest are now simultaneously having to contemplate 
major changes to how they can use incorporation to manage their businesses.

Succession planning at risk

Frustration over Ottawa’s proposed changes to small-business taxation continues to mount

Farmers are being urged to join the chorus of opposition facing the federal government’s proposed tax changes. Manitoba’s minister of agriculture has already added his voice to the growing calls for Ottawa to reconsider the massive overhaul and Keystone Agricultural Producers is asking its members to participate in government consultations before the October 2 deadline.

Tax changes set for this fall are likely to considerably impact many Canadian farmers.

Editorial: The taxman cometh

Canadian farmers could soon be swept up in a looming taxation crackdown. The Trudeau government has promised to lower the boom on what it characterizes as the abuse of private corporations by high-income individuals to avoid taxation. Doctors have been especially vocal in their condemnation of the move, saying they have forgone fee increases in