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Crops, General, Weather

Farm Futures survey pegs U.S. corn crop below 10 bln bushels

By Reuters, GFM Network News August 3, 2012

A Farm Futures Magazine survey of more than 1,800 U.S. farmers projected the U.S. 2012 corn crop at 9.57 billion bushels, based on an average yield of 114 bushels per acre, the publication said Friday. The figures are well below the U.S. Department of Agriculture’s current forecast for a crop of 12.97 billion bushels with […] Read more

General, Livestock, Weather

House passes $383 million us drought aid bill for ranchers

By GFM Network News August 3, 2012

The U.S. House of Representatives passed a $383 million disaster relief bill on Thursday that provides political shelter for lawmakers during the worst drought in half a century, but may not release the aid for months to come. Nearly two-thirds of the continental United States, including prime ranch and farm territory, is in the grip […] Read more

Agrium posts record profit but drought clouds upside

By Rod Nickel, GFM Network News August 3, 2012

North America’s biggest retail supplier of farm products and services, Agrium Inc , reported record high second-quarter profit on strong demand for crop inputs, but analysts said the severe U.S. drought presents downside risks. National Bank Financial cut Agrium’s rating to "underperform" from "sector perform" on Friday, following a downgrade on Thursday by Dahlman Rose […] Read more

Crops, General, Markets, Weather

Grain prices in 3-day retreat; has rally paused or peaked?

By GFM Network News August 2, 2012

Grains fell for a third straight session on Thursday on mild relief from the severe drought in the U.S. Midwest farm belt, raising questions if the biggest two-month rally in corn since the last major drought in 1988 may have peaked. Light showers overnight in the Midwest and some switching out of investments to the […] Read more

Across Canada in a “farmhouse” – Winnipeg to Regina

By GFM Network News August 2, 2012

John Varty and his fiancée Molly Daley are driving across Canada in an effort to speak to farmers about the issues that concern them, and to bring those concerns to urbanites. They’re doing it in an unusual fashion — towing a "farmhouse" behind a Massey Ferguson 1660 — more details here. They will be posting […] Read more

General, Livestock

United Arab Emirates fully open to Canadian beef

By GFM Network News August 2, 2012

The United Arab Emirates (UAE) is the latest country to fully reopen its borders to Canadian beef following its closure in 2003 when a case of BSE was discovered in Canada. A joint release Aug. 2 by Agriculture Minister Gerry Ritz and International Trade Minister Ed Fast said the UAE is now open to beef […] Read more

Crops, General, Markets

Further cut expected in Russian harvest forecast

By GFM Network News August 2, 2012

Russia’s Agriculture Ministry signalled on Thursday that a further cut in Russia’s harvest forecast to 70-75 million tonnes was in the offing, two days after Prime Minister Dmitry Medvedev announced the crop would be lower than previously expected. Visiting Volgograd, a provincial capital in the Volga River valley where drought is spreading and threatening yields, […] Read more

Crops, General, Weather

India confirms drought as El Nino looms

By GFM Network News August 2, 2012

India’s monsoon rains will not be enough to save the country from its first drought in three years, the weather office said on Thursday as it forecast that the El Nino weather pattern should reduce rains again in the second half of the June to September season. India, one of the world’s largest food producers […] Read more

Monsanto wins $1 bln award against DuPont

By GFM Network News August 2, 2012

Shares of Monsanto, the world’s largest seed company, rose on Thursday and DuPont shares fell after Monsanto won a $1 billion victory over its archrival in a lawsuit concerning patents in the agricultural seed market. The victory, which dealt with genetically modified seeds that allow crops to tolerate herbicides, should have little immediate impact in […] Read more

Crops, General, Livestock

No ad hoc aid for Ontario producers: Ritz

By Allan Dawson, GFM Network News August 1, 2012

The federal government doesn’t expect to announce any ad hoc aid programs for Ontario farmers suffering from drought, Agriculture Minister Gerry Ritz told reporters in Saskatoon July 31. "I think we have fullness in our programming that allows us the latitude to address this," Ritz said. Earlier in the day Ontario Premier Dalton McGuinty asked […] Read more