Reuters — Canadian fertilizer producer Agrium Inc will cut 500 jobs and look to sell several non-core businesses as it aims to find $475 million in savings by 2017, chief executive Chuck Magro said on Wednesday. Agrium will also target savings from reducing working capital at its farm retail business and trimming operating and administrative […] Read more
Agrium to cut 500 jobs, sell some businesses
Harvest pressure on confectionery sunflowers
Commodity News Service Canada — The Manitoba sunflower harvest is progressing nicely, which is weighing on confectionery bids despite some quality concerns. “The sunflowers are still coming off… but there shouldn’t be much left by mid-November,” said Mike Durand, of Nestibo Agra in Deloraine, Manitoba. He said both yields and quality were variable, with the […] Read more
Peas hold their own after large exports to India
Commodity News Service Canada — Despite some concerns over quality, Canadian peas are holding their own on the international market, according to an industry watcher. “I would think there’s going to be pretty good prices for peas coming down the pike. I think it will be pretty good. There’s been a very aggressive export program […] Read more
China 2014 canola imports seen at record
Beijing / Reuters — China is expected to import a record 5 million tonnes of canola in 2014, a rise of 64 per cent from last year, due to profitable crush margins and lower domestic production, said an official think-tank on Tuesday. China mainly imports canola from Canada. Canada had a record domestic harvest in […] Read more
No frost but excess rain for Argentina wheat
Buenos Aires / Reuters — Argentina’s wheat plants were not hit by frost over the weekend as feared but strong rainfall since Saturday has generated excess humidity that could cause an outbreak of disease in the crop, a meteorologist said on Monday. Weather experts last week warned of the possibility of severe spring frosts in […] Read more
Canadian wheat lowest in Iraq tender — trade
Hamburg / Reuters — Canadian wheat was offered lowest at $323.40 a tonne c&f free out (ciffo) in the tender from Iraq’s state grains board to buy at least 50,000 tonnes of hard wheat, European traders said on Monday. The tender closed on Sunday and offers must remain valid up to Thursday, Nov. 6, traders […] Read more
CWB says it’s not for sale
Manitoba Co-operator — CWB isn’t a grain company on the auction block, it’s a company looking for a new partner, who along with farmer-shareholders, will help it grow to serve western Canadian farmers better. “I think there is a misunderstanding about what CWB is trying to do,” Dayna Spiring, CWB’s chief strategy officer said in […] Read more
CWRS bids up as basis strengthens
Commodity News Service Canada — Average cash bids for Canadian Western Red Spring (CWRS) wheat were stronger during the week, underpinned by improving basis levels in Western Canada and stronger Minneapolis wheat futures prices. CWRS prices were about $3.00 higher in central Alberta, up to $6.75 stronger in the Peace region compared to a week […] Read more
EU rapeseed crop forecast at new record
Reuters — Crop consultancy Strategie Grains has raised its estimate of the 2014 rapeseed harvest in the European Union to a record 24.0 million tonnes, from 23.8 million last month, mainly due to a rise in yields in Germany, the UK and the Czech Republic. It is the fifth time in a row that the […] Read more
Strike averted on St. Lawrence Seaway
Reuters — The union that represents workers along the St. Lawrence Seaway has agreed to take a contract dispute to arbitration, avoiding a strike that would have shut the waterway linking the Great Lakes and the Atlantic Ocean. The union, Unifor, announced the news in a statement on Sunday evening. It had previously set a […] Read more