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Viterra Invests $1M in the Canadian International Grains Institute

By Amanda Brodhagen, Farms.com

Canada’s largest grain handler, Viterra Inc. announced a $1 million partnership with the Canadian International Grains Institute (Cigi) on Tuesday.

The financial contribution signals further agreements between the two parties, as Cigi begins to gather support for its $12 million new facility.

“Cigi has an excellent international reputation for delivering customized training programs and technical expertise to farmers and end users. Their work has helped to enhance Canada's position as a reliable supplier of safe and high quality grains, oilseeds and pulses,"  Kyle Jeworski, Viterra's President and CEO for North America said in a release.

Cigi is a not-for-profit grain marketing institute which aims to promote Canadian field crops through industry resources and training. The institute is funded by growers and the federal government.
 


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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.