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Agriculture Canada Releases European Moth to Eat Invasive Vines

Agriculture Canada Releases European Moth to Eat Invasive Vines

By Amanda Brodhagen, Farms.com

Agriculture Canada said it has approved the release of a European moth to eat invasive vines. The first group of moths have been released near Ottawa. About 500 insects have been discharged, which are supposed to eat ‘dog-strangling vine,’ an invasive weed from Europe.

The invasive species has taken over gardens and pasture land in North America. The vine is also toxic to livestock, which leaves the vine to spread further. The Hypena month is native to Ukraine and was tested in Switzerland and Rhode Island to see the impact it could have on our native plants and agricultural crops.

While the U.S. Department of Agriculture has not yet approved the release of the Hypena moth, it will likely spread there since they have been released in Canada. Scientists say it is unlikely that anything will go wrong with releasing the moth.
 


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Funds Ditch Ag Commodities, Chase Stocks Amid an End to Middle East War, & Trade Deal Buzz

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The 12-day war between Iran-Israel came to an end sending crude oil futures plunging as the big fund speculators removed the war risk premium.

The weather risk premium in the Ag complex is sending corn, wheat and soybean futures lower on month-end selling ahead of the market moving USDA quarterly grain stocks and acreage reports on June 30th.

Instead, funds were chasing and sending tech stocks higher with the S&P 500/NASDAQ indexes setting new all-time record highs!

June 1 USDA Hogs and pigs report was slightly bearish while the U.S. $ Index traded to new contract lows as the de-dollarization that began in 2014 continues.

Feed in the form of soybean meal futures for livestock producers got cheaper, trading to new contract lows.

The Stats Canada seeded acreage update was bullish canola and wheat.