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Canadian federal government invests in expansion of soybean markets

More than $300,000 being invested

By Diego Flammini, Farms.com

In an effort to continue promoting Canadian agriculture on a global scale, the federal government is investing in the expansion of markets for soybean.

Soybean

In total, $358,175 will be invested to Soy Canada, who’ll use the monies to attend trade shows, lead missions and concentrate on expanding key soybean markets including China, the United States, Korea, Japan and Europe.

"Canada’s soybean sector has experienced steady growth and development over the past decade,” said Harold Albrecht, Member of Parliament for Kitchener-Conestoga on behalf of Agriculture Minister Gerry Ritz. “We are proud to support the soybean sector in its efforts to develop new markets, which creates economic opportunities for our farmers and increases demand for Canadian products."

Production of soybeans in Canada has increased by nearly 123% since the year 2000. It is now the 4th largest crop by acreage in Canada – producing 6.04 million metric tonnes last year worth about $2.4 billion.

Soybeans is 3rd in the country when it comes to farm cash receipts, trailing only wheat and canola. Canada is now the world’s 5th largest exporter of soybean, reaching more than 55 countries in 2014.

"As acreage and production of soybeans increases quickly in Canada, our industry is seeking to develop new markets and expand existing ones,” said Jim Everson, Executive Director of Soy Canada. “This strong support from the Government of Canada will be invaluable in helping our industry expand exports"

Tell us what you think about the government investing in expanding Canadian soybean market opportunities. What other crops and agricultural products should be showcased on the world stage?


Trending Video

US “Flash Drought” Worst in 133-160 Years + Disease taking a Bite out of US 2025 Corn/Soybean Crops

Video: US “Flash Drought” Worst in 133-160 Years + Disease taking a Bite out of US 2025 Corn/Soybean Crops


A dry August and a “flash drought” in the ECB (Eastern Corn Belt) the driest top 10 to 15 years in 150 to 160 years (Ohio the driest in 133 years) plus disease is taking a bite out of the 2025 U.S. corn and soybean crops.
It's going to be an early harvest. This could be the start of the 89-year drought cycle that may have been delayed until 2026 as La Nina maybe returning.
The USDA September crop report is all about record corn ears and record soybean counts but the October USDA crop report will be about pod and ear weights.
Stats Canada reported higher forecasts for the 2025 Canadian Prairies all wheat and canola crops vs. last year based on satellite imagery but are they overestimating production?
The 2025 Great ON Yield Tour and Quebec crop tours are projecting corn and soybean crops below the 10-year average.
China's Vice Commerce Ministry Li Chenggang visits Washington this week as we continue to connect the dots is a positive sign towards a China/U.S. trade deal. But will U.S. farmers have a winter without China as they buy more soybeans from Uruguay/Argentina? U.S. Northern Plain soybean farmers are seeing red with flat prices at $8.97/bu!
U.S. corn exports on record pace up 99% vs. last year.
Fund short covering continues in corn futures bottom is in!