Now Is Not The Time To Scrap Farm Fuel Tax Break: Farmers

Mar 17, 2017

Anxious farmers got no reassurance that subsidies they receive — including tax breaks for farm fuel purchases — will be continued after the provincial budget comes down next week.

“We’re forced to consider everything in this budget, and that’s one of the things that’s been considered,” Agriculture Minister Lyle Stewart told delegates Wednesday at the annual Saskatchewan Association of Rural Municipalities’ (SARM) convention in Saskatoon.

“As for tax change and tax cuts, you’ll have to wait ’til March 22.”

Stewart was responding to a question posed by a delegate from the RM of Weyburn, who said now is not a good time for the government to entertain the idea of reducing tax breaks for farmers.

“Coupled with rising commodity prices and this impending carbon tax, we could see a significant change to what we as producers and farmers and ranchers are paying for fuel,” the man said during a 90-minute “bear pit” session Wednesday morning as cabinet ministers fielded an array of questions from SARM delegates.

Source : Leaderpost

Video: U.S.-China Trade “Truce” + U.S. Fed Cuts Rates Again

The market was hoping for a US-China trade deal, but we got a trade “truce” for now from the keenly awaited Trump-Xi meeting at the APEC Summit.
China commits to minimum purchase commitments of 12 MMT of U.S. soybeans during the “current season” and a minimum of 25 MMT annually through 2028.
U.S. Treasury Sec Bessent said other Asian countries have agreed to buy additional 19 MMT of US soybean.
Soybean futures trading above $11 now- they normally tend to rally to $12.
As expected, US Fed cuts interest rates by -0.25% again in October to 3.75%–4.00%. No further cuts promised for this year but trade looking out to the Dec FOMC.
The Bank of Canada cut interest rates to 2.25% but raised concern over trade war damage.
Soy meal futures, remarkably, have had 14 consecutive higher close sessions. A bull market in soybeans is a bull market in soy meal!
Cattle futures lower as funds unwind out of cattle for now due to Trump headlines and objective to lower beef prices.
All major stock indices climb to new record highs. It was Mag 7 reporting week, which had mixed results. But we now have the first $5 trillion company in Nvidia!