GFM Network News

Few surprises in StatsCan production report

Market participants say there were few surprises in Statistics Canada’s production estimates for 2008, which were released this morning. However, the upward revision to the 2007/08 canola production estimate by the government agency managed to garner some major attention. Statistics Canada pegged 2008/09 canola output at 10.375 million tonnes, which compares with pre-report expectations that […] Read more

Moisture In Alberta Varied, Crops Still Behind

Moisture levels in Alberta continue to vary widely, with some areas in dire need of rainfall while moisture in other regions is adequate. According to Neil Whatley, crop specialist with the Alberta Ag Info Centre, central and southern Alberta have good moisture levels while areas north and northeast of Edmonton are on the dry side. […] Read more

Lower government support hits CWB credit rating

Standard and Poor’s Rating Services announced that it has lowered its long-term issuer credit rating on the Canadian Wheat Board to ‘AA’ from ‘AA+’, citing a lower level of federal government support for the CWB as the main reason. Standard and Poor’s affirmed its other rating on the CWB at the same time and said […] Read more

ICE Futures Canada trade resumes after outage

Trade at the ICE Futures Canada platform is scheduled to resume at 1 p.m. CDT. Steve Teller, manager of the regulatory division of ICE Futures Canada (formerly known as the Winnipeg Commodity Exchange), said the ICE Futures Canada trading platform will close at its normal time Thursday. Activity at the ICE trading platform came to […] Read more

Good seeding progress seen in Ontario: OMAFRA

Favourable weather conditions allowed producers in Ontario to make good seeding progress during the week ended May 7, according to the latest field crop update from Ontario’s Ministry of Agriculture, Food and Rural Affairs. Planting of the province’s spring cereals was nearing completion with 95 per cent of the crop in the ground, the report […] Read more

Winnipeg exchange hikes daily trading limits

Price limits for canola, barley, and feed wheat futures traded on ICE Futures Canada will be revised starting with the March 14 trading session, according to a participant notice Wednesday. The daily limit for canola will increase to $45 per tonne from $30. The daily limits for feed wheat and western barley will both increase […] Read more

Ottawa, railways reach new deal on hopper cars

New agreements between the federal government, Canadian National Railway (CN) and Canadian Pacific (CPR) to operate, maintain and refurbish the federal fleet of hopper rail cars have been reached, according to federal Agriculture Minister Gerry Ritz. “These rail cars are an essential link, allowing Canadian farmers to move their products to markets around the world,” […] Read more

Canada adopts farm animal genetics action plan

The Canadian government has adopted the Global Plan of Action for Farm Animal Genetic Resources, an international framework to conserve and use animal genetic resources. “This global plan will help Canadian breeders and researchers access genetic resources from other countries as well as further support the export of Canadian animal genetics,” said Gerry Ritz, the […] Read more

Rains slow Manitoba harvest

Varying amounts of precipitation and cooler temperatures slowed harvest progress in a number of regions across Manitoba, according to the provincial government’s crop update for the week ended September 10. Harvest operations were complete in a number of areas, but some additional time will be required to finish combining in others, the report said. Planting […] Read more

Merged Viterra posts $96M in Q4 earnings

Viterra — the combined Saskatchewan Wheat Pool and Agricore United — today reported net earnings of $96.01 million (57 cents per basic share) during its fourth quarter ended July 31, up from $13.49 million or (15 cents per share) during the same quarter a year ago. “It has been three months since we began operations […] Read more