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CWB Builds its First Grain Elevator

By Amanda Brodhagen, Farms.com

The CWB recently announced that it has begun building a new grain elevator, west of Portage La Prairie in Bloom, Manitoba. The elevator is expected to be ready for the 2015 harvest.

News of the elevator construction signals that the CWB is making strides as an independent grain handler. The elevator will be the CWB’s first construction of a grain-handling facility.  

In a release CWB says that construction is under way near the Trans-Canada Highway, about four miles west of Yellowhead. The state-of-the-art facility will include 33,900 metric tonnes of storage capacity, with a 17,400 MT workhouse, plus cleaning facilities.

“The site is easily accessible from a number of highways, including the Trans-Canada and the Yellowhead, and it is located in an area with a clear need for more grain-handling capacity,” CWB president and CEO Ian White said in a release.

The facility will add to the company’s network that includes Mission Terminal in Thunder Bay, Les Élévateurs des Trois-Rivières in Quebec, as well as a minority interest in Prairie West Terminal.
 


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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.