Prince Edward Island’s incumbent agriculture minister and opposition agriculture critics prevailed in Monday night’s provincial election, in which incumbent premier Dennis King’s Tories were returned with a majority. Darlene Compton, King’s agriculture minister since last summer and his incumbent deputy premier, won re-election Monday for the Progressive Conservatives in her district of Belfast-Murray River. Compton, […] Read more
P.E.I. ag minister, ag critics re-elected
Tories return with majority; Liberals regain official opposition
U.S. ag businesses want Biden to allow more investment in Cuba
Canadian investment 'significant' in Cuban business
Havana | Reuters — U.S. agribusinesses, on a trade tour in Cuba, said on Tuesday they were “losing” in their bid to boost commerce with Cuban farmers and called on the Biden administration to ease restrictions and allow them to invest in private agriculture on the island. U.S. President Joe Biden last May loosened restrictions […] Read more
Pulse weekly outlook: World chickpea supplies expected tight over next six months
MarketsFarm — Chickpeas are expected to be in short supply around the world over the next six months, according to a release from the Global Pulse Confederation (GPC). Hot and dry weather in India cut production prospects for that country’s kabuli chickpea crop, according to the report. Production out of Mexico also failed to meet […] Read more
Saudi Arabia highly dependent on grain imports
Alfalfa more profitable for domestic growers
MarketsFarm — While Saudi Arabia is a giant among the oil-producing countries of the world, the desert kingdom does produce small amounts of grain. With a population that’s about one million less than Canada’s, Saudi Arabia is extremely dependent on importing its grain from overseas. The U.S. Department of Agriculture’s (USDA) attaché in Riyadh explained […] Read more
McDonald’s reported laying off hundreds of corporate employees
Layoffs don't include restaurant-level workers
New York | Reuters — The number of corporate employees McDonald’s Corp. plans to lay off this week will tally in the “hundreds,” a source familiar with the burger chain’s thinking said on Monday, as the company moves forward with a previously announced restructuring. The fast-food company is closing its offices “out of respect,” and […] Read more
Canola short position finally subsiding
CBOT wheat, corn also net short
MarketsFarm — After hitting the largest speculative short position in canola on record, managed money fund traders were finally covering those bearish bets in late March, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of March 28, the net managed money short position in canola futures […] Read more
GM buyouts cut 5,000 jobs, CFO says
Not much more room seen to raise prices
Reuters — About 5,000 General Motors salaried workers took buyouts to leave the company, putting the company well on the way to hitting a US$2 billion cost-cutting target, the automaker’s chief financial officer said Tuesday. GM shares were trading down nearly two per cent at midday, even though CFO Paul Jacobson said demand for GM’s […] Read more
Klassen: Alberta fed cattle lead feeder market higher
Traders expecting more barley acres this year
Compared to last week, western Canadian yearling markets traded $3-$5 higher while calf prices advanced $1-$3 on average. Alberta packers were buying fed cattle on a dressed basis of $360/cwt last week, up $3-$10 from a week earlier. Using a 60 per cent grading, live prices would be equivalent to $216. Feeding margins have improved […] Read more
International farmers may ease Canadian human capital crunch
A global retirement crunch is coming and Canada is ill prepared, report says
As other nations reduce their agricultural footprints in an effort to boost sustainability, their loss could be Canada’s human capital gain, a new report suggests. “The immigration of scientists, data engineers, and entrepreneurs has been recognized as critical to Canada’s growth. A similar approach needs to be adopted to attract farmers,” the authors wrote. The […] Read more
U.S. grains: Chicago soybeans, wheat up on energy boost
Crude oil jumps on surprise OPEC+ output cuts
Mexico City | Reuters — Chicago soybean and wheat futures closed higher on Monday, boosted by a rally in energy markets and concerns over U.S. crop conditions. Corn closed lower, however, as weather forecasts showed slightly drier conditions that would be favourable to planting, analysts said. Oil prices spiked after a surprise announcement by OPEC+ […] Read more
Canadian Cattlemen Presents: Depth of Field
