Farms.com Home   Ag Industry News

Grain Growers of Canada respond to new bill

Organization welcomes Bill C-48

By Diego Flammini, farms.com

The Grain Growers of Canada, the national spokespeople for the over 50,000 grain producers across Canada, are in favour of the new bill that’s designed to help reinforce Canada’s status as a reliable producer of high quality grain.

“Canadian farmers are proud of the strong international reputation we have worked hard to earn,” said Grain Growers of Canada President Gary Stanford. “The CGC [Canadian Grain Commission] is a key player in maintaining that good standing.”

The bill, among other provisions, would give the CGC authority to instill a Producer Compensation Fund to protect grain growers should a licensee not pay for delivery. The goal is to enhance security for those providing the product.

The Grain Growers will meet with government officials to finalize specific items related to Bill C-48.

“We expect to hold productive conversations throughout this process as we work to get it right for everyone,” said Mr. Stanford.
 


Trending Video

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

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


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.