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Ritz Says Ottawa Will Make Changes to Plant Breeders Act

By Amanda Brodhagen, Farms.com

Federal agriculture minister Gerry Ritz says plant breeder rights need updating. Ritz believes Canada is falling behind when it comes to adopting new technology. 

Minister Ritz is advocating that Canada sign UPOV 91, the International Union for the Protection of New Varieties of Plants convention, an international agreement. This agreement would expand plant breeders’ rights with the hope of encouraging the development of new varieties. The current legislation is based on 1978 UPOV standard.

Signing onto the convention requires parliamentary changes to the Plant Breeders Act. Ritz says the government plans to sign UPOV 91 by Aug. 2014. Plant breeders’ rights are a form of intellectual property rights, which allows breeders to protect their new varieties. 


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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.