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Feds invest dollars into a Quebec firm to advance soybean quality

By Amanda Brodhagen, Farms.com

Ottawa announced an investment of $182,500 to La Coop fédérée to pursue research and development to improve soybean quality. Parliamentary Secretary Pierre Lemieux made the announcement on behalf of Agriculture Minister Gerry Ritz. The investment was made possible thanks to the AgriInnovation Program under Growing Forward 2.

The funds will allow La Coop fédérée to focus on enhancing soybean breeding and seed quality. The ultimate goal is to provide Canadian growers and food processors with new soy varieties, with the hope that the research results will help farmers have a more competitive edge in domestic and international markets.

"The soybean sector is an important part of our growing economy. Investing in research to improve soybean versatility will boost competitiveness and create new market opportunities for farmers, food processors and exporters in the regions of Quebec and across Canada,” Mr. Lemieux said in a release.

La Coop fédérée, which is headquartered in Quebec, has a network of more than 100,000 members in 102 co-operatives, and facilities in six provinces, including Quebec, New Brunswick, Ontario, Alberta, Manitoba, and Saskatchewan.

Gaétan Desroches, the Chief Executive Officer for La Coop fédérée, calls the news a boost - noting that the funds will be spread out over the course of a four year period, but the research will occur for another three years under for La Coop fédérée.

The research will take place mostly at AAFC’s Greenhouse and Processing Crops Research Centre in Harrow, Ont., government scientists are working with the soybean sector to yield more generic variety soybeans and meet the market demand for good processing at a lower cost.
 


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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!

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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.