GFM Network News


U.S. grains: Weak export sales report pushes soy, wheat lower

Weekly corn exports slip to eight-month low

Chicago | Reuters — Chicago Board of Trade soybean futures fell 1.3 per cent on Thursday, after hitting a 6-1/2-year high overnight, on signs of poor export demand for U.S. supplies, traders said. Weak overseas demand also pressured the corn and wheat markets. “You had poor export sales,” said Jim Gerlach, president of U.S. broker […] Read more

Nutrien beats profit expectation on strong potash sales

Reuters — Canadian fertilizer maker Nutrien posted fourth-quarter profit above analysts’ estimates on Wednesday as potash demand rose amid rising crop prices, sending its U.S.-listed shares up in extended trade. Fertilizer producers have benefited from high U.S. crop exports, including record-large corn sales to China. With crop prices touching multi-year highs, farmers are poised to […] Read more


Argentina lifts corn export ban

Export suspension to be replaced with 30,000-tonne sales cap

Buenos Aires | Reuters — Argentina has lifted a suspension on corn exports announced in December and will opt instead for a temporary 30,000-tonne daily cap on sales abroad, its agriculture ministry said on Monday, backing off the more restrictive measure that had infuriated farmers in the South American grains powerhouse. The world’s No. 3 […] Read more

Buhler pulls Farm King manufacturing back to Canada

Work to halt at Minnesota plant early next year

Winnipeg farm equipment maker Buhler Industries is relocating its Farm King manufacturing work back to Canada from the U.S. this winter. After consolidating its U.S. manufacturing this summer into one plant at Willmar, Minn., about 140 km west of Minneapolis, the company said Thursday it will also halt production at Willmar in early 2021. Buhler, […] Read more


P.E.I. seed potato growers backed for lost sales, costs

Pandemic compensation plan to take applications until mid-January

Seed potato growers on Prince Edward Island who lost sales this year due to the COVID-19 pandemic, or have had to store or throw out stock, can soon apply for provincial compensation. The provincial government on Monday announced $1.19 million for a new Seed Potato Recovery Program, for seed growers “who can demonstrate that they […] Read more

Syngenta says IPO ‘on track’

Ag chem firm books higher first-half profit

Zurich | Reuters — Agricultural chemical maker Syngenta posted higher first-half profit and sales on Thursday, helped by maintaining supplies to farmers and controlling costs during the coronavirus outbreak, and said it was on track to complete its public listing by mid-2022. The Swiss company, bought by state-owned ChemChina for $43 billion in 2017, posted […] Read more



Plummeting french fry sales have potato growers re-evaluating

Restaurant closures slash demand, though 'chip sales have been great'

French fry sales are down across North America as tens of thousands of restaurants have closed during COVID-19, meaning the potato industry has to adapt quickly. Companies that turn potatoes into french fries, wedges and hash browns are slowing down, because there isn’t enough space to store all the frozen product. In Alberta and Manitoba, […] Read more


Livestock auction marts to decide on next steps

Livestock Marketing Association of Canada pondering next move in face of pandemic

You may want to call first to see if it’s open, but many auction marts in Alberta were still having sales on Tuesday morning. The Livestock Marketing Association of Canada has a conference call set for this evening to discuss COVID-19 safety measures for staff, customers and buyers, said Chance Martin, an LMAC director and […] Read more

More pain in store for Canadian marijuana companies

Aurora Cannabis, Tilray cut jobs

Toronto | Reuters — Investors are bracing for more job cuts and writedowns at Canadian cannabis producers before the industry stabilizes and becomes profitable, after two of the biggest weed companies, Aurora Cannabis and Tilray announced cost reductions this week. Canada legalized recreational cannabis in October 2018 but profits have proven elusive for most marijuana […] Read more