Bring on the Love: 2013 Food Freedom Day falls on Valentine’s Day

Feb 08, 2013

Ontario Federation of Agriculture commentary focuses on importance of Food Freedom Day

This week’s Ontario Federation of Agriculture (OFA) commentary highlights the importance of the upcoming Food Freedom Day. This year, Food Freedom day falls on the most romantic day of the year – Valentine’s Day, Feb. 14, 2013.

Food Freedom Day is the day in the year by which the average Canadian would have earned enough income to pay their grocery bill for the entire year. According to Statistics Canada, in 2012 Canadian’s spent 12.3% of their disposable income on food, which also includes beverages and tobacco.

Food Freedom Day should be a celebrated day not only for consumers but farmers as well. It’s an opportunity to be thankful for the safe, affordable food that Canadian farmers produce across the country. In Ontario, the agri-food sector contributes $33 billion annually to the local economy and represents 10% of the province’s workforce.

The OFA, which is the largest general farm organization in the province works with policy makers advocating for the agriculture industry to ensure that the agriculture sector remains a profitable business for Ontario farmers.

Video: Is China Buying US Soybeans + USDA Nov 14th Crop Report could be “Game Changing”

After a week of a U.S./China trade truce, markets/trade is skeptical that we have not seen a signed agreement nor heard much from China or seen any details. There are rumors that China is buying soybean futures & not the physical. Trust in Trump?
12 MMT of U.S. soybean purchases by China by year-end is better than 0 but we all need to give it more time and give it a chance to unfold. China did lower the tariffs on Ag and is buying U.S. wheat and sorghum.
U.S. supreme court could rule against Trumps tariffs, but the Trump administration does have a plan B.
U.S. government shutdown is now the longest in history at 38 days.
But despite a U.S. government shutdown we will be getting a USDA November crop report next Friday and it could be “game changing.” If the USDA provides a bullish surprise with lower U.S. corn and soybean yields and ending stocks that are lower than expected both corn and soybean futures will break out above their ceilings at $4.35/bu and $11.35/bu respectively.
The funds continued their selling in live and feeder cattle futures on continued fears that the Trump administration want to lower U.S. beef prices. The fundamentals have not changed, only market psychology has.
Stocks markets continue to worry about a weak U.S. job market, but you can blame ChatGPT for that. In the future, we will have a more efficient, productive and growing economy with a higher unemployment rate until we have more skilled AI workers.
After 34 new record highs in the S & P 500 and 124 new records in the NASDAQ in 2025 we are back to a correction and investor profit taking as AI valuations may have gotten too stretched near-term ahead of NVDA’s 3rd quarter earnings announcement on Nov. 19th. But this is not an AI bubble.
75% of Tesla shareholders approved a $1 trillion pay package for Elon Musk!
It has rained in South America in the last 7 days, but both the American and European models agree that Central Brazil remains dry in the next 14-days!

WASDE Feb. 8 2013: Overview

US Company involved in Quebec Maple Syrup Heist