GFM Network News





CBOT November 2021 soybeans (candlesticks) with 20-, 50- and 100-day moving averages (yellow, green and black lines). (Barchart)

U.S. grains: Corn, soybeans lower on the week

Traders look at long-term weather; wheat flat

Chicago | Reuters — Chicago corn and soybean futures slipped on Friday, pressured by extended forecasts calling for cooler weather into August, though hot, dry weather in the coming week across the U.S. Midwest underpinned prices. Wheat ended lower as concerns over unfavorable weather in key exporting countries countered pressure from corn and soybeans. The […] Read more

CBOT September 2021 wheat (candlesticks) with 20-, 50- and 100-day moving averages (yellow, orange and green lines). (Barchart)

U.S. grains: CBOT wheat snaps winning streak

Chicago corn, soybeans also fall

Chicago | Reuters — Chicago Board of Trade soft red winter wheat futures plunged 2.6 per cent on Thursday, snapping a six-session streak of gains as traders locked in profits from the rally. Soybean futures were down two per cent, with the latest weather forecasts showing that some timely rains will arrive in key growing […] Read more


Federal Agriculture Minister Marie-Claude Bibeau, shown here with Craig Riese (l) of Keystone Agricultural Producers and Manitoba Beef Producers president Tyler Fulton, speaks on July 22, 2021 at The Forks in Winnipeg. (Dave Bedard photo)

Tax deferrals, crop insurance changes en route against drought

Assessments underway for AgriRecovery, minister says

Updated — As the federal government looks to manage impacts of ongoing drought conditions in Canada’s West, producers in parts of five provinces can already expect to be eligible for the livestock tax deferral program. Agriculture Minister Marie-Claude Bibeau announced Thursday in Winnipeg that producers in drought-designated areas of southern Alberta, southeastern British Columbia, northwestern […] Read more

Chrystia Freeland takes part in a news conference at the Canadian embassy in Washington, D.C. on Aug. 31, 2018. (Photo: Reuters/Chris Wattie)

Farm transfer tax treatment bill now law, feds say

Government to add amendments against tax loopholes

Despite a previous statement from her ministry, Canada’s finance minister says a bill standardizing the tax treatment of farm transfers is now officially on the books. However, while Bill C-208 is now in federal tax law, further amendments are en route to plug legal loopholes the bill may have opened. Finance Minister Chrystia Freeland on […] Read more



CBOT September 2021 wheat (candlesticks) with MGEX and K.C. September 2021 wheat (dark greeen and orange O/H/L/C). (Barchart)

U.S. grains: Winter wheat futures up sixth straight day

MGEX spring wheat falls

Chicago | Reuters — U.S. winter wheat futures rose for the sixth day in a row on Wednesday as adverse weather in key exporting countries raised supply concerns, traders said. Corn futures were steady to firm, with the front-month contract ending flat while new-crop offerings rose on support from dry soils that threatened to hamper […] Read more


(Dave Bedard photo)

Hot, dry weather creates ‘significant uncertainty,’ AAFC says

MarketsFarm — Supply/demand balance sheets for Canada’s major crops only saw minor adjustments in the latest update Tuesday from Agriculture and Agri-Food Canada, with hot and dry growing conditions leading to “significant uncertainty” on the state of the country’s 2021-22 crops. Total field crop production in the country was forecast to decrease due to a […] Read more

CBOT September 2021 wheat (candlesticks) with 20-day moving average (black line) and K.C. September 2021 wheat (orange line). (Barchart)

U.S. grains: Wheat climbs on deteriorating crop conditions

Corn rises as U.S. crop rating misses consensus

Chicago | Reuters — Chicago wheat futures climbed on Tuesday to a two-month peak after official data underscored poor conditions for drought-hit U.S. spring wheat. Chicago corn gained, as a lower-than-expected weekly crop rating focused attention back to dry conditions in parts of the Midwest. Soybeans rebounded after being pressured by falling crude oil prices […] Read more