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2020 CANADIAN ORGANIC STANDARDS PASS FINAL VOTE

The Organic Federation of Canada (OFC) has announced that the final vote of the Technical Committee on Organic Agriculture on the proposed amendments to the Canadian Organic Standards has been returned, and all members of the Technical Committee unanimously voted yes!
 
In their latest update, the Organic Federation of Canada (OFC) shared:
 
“The draft submitted to the vote will be referenced by the Safe Food for Canadians Regulations when it is published by the Canadian General Standards Board this fall….
 
“After the publication of the 2020 Standards, operators will have one year to adjust their practices to comply with the revised requirements….
 
“The OFC is pleased with the unanimous vote of the voting members; the 706 comments received during the public review conducted in the summer of 2019 helped to resolve many ambiguities and build consensus on the most contentious issues. The OFC has published numerous articles on the controversial issues that have fueled the working groups’ discussions; some of these issues will likely return in the 2025 round of review work.”
 
This final vote marks the culmination of two years of work by members of the Technical Committee and working groups, who analyzed change requests and hundreds of public comments, as well as recommending best ecological practices in Canadian organic production.
Source : Organic Council of Ontario

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Will the 2025 USDA December Crop Report Be a Market Mover/Surprise?

Video: Will the 2025 USDA December Crop Report Be a Market Mover/Surprise?


Historically, the USDA December crop report is a non-event or another dud report as the USDA reserves any final supply changes to the final report in January of the following year in this case 2026. But after the longest U.S. government shutdown in history at 43 days and no October crop report will they provide more data/surprise and make an exception?
Our China U.S. soybean purchase tracker is now at 26.6% or a total of 3.2 mmt but for traders it’s taking too long to unfold.
The final Stats Canada production report was bearish canola and wheat projection a record crop in both (it adds to the global glut of supplies) and bullish local corn and soybean prices in Ontario/Quebec thanks to a drought. It will not help the fund flow short-term, the USDA may need to offset it?
A U.S. Fed interest rate cut of another 25-basis point next Wednesday (probability 87.1%) could help fund flow and sentiment in stock and ag commodities into year end.
More inflows into Bitcoin this past week saw prices rebound back above 90,000 with support at 82,000 and resistance at 96,000.
A V-shaped bottom in cattle suggest the lows are in after Mexico reported another new world screwworm case. Lower weights, seasonal demand and higher U.S. beef select/choice values with a continued closure of the Mexican border to cattle will result in a resumption of higher cattle futures into yearend.
Australia is expected to produce its 3rd largest wheat crop ever at 36 mmt adding to the global glut of supplies.
Reports of ASF in hogs in Spain the largest pork exporter in Europe could see the U.S. win more pork export business long-term.
If the rains verify into next week of 3-5 inches for Brazil it would go a long way to fixing the dry regions from the last 2-months, but the European weather model has been wrong for the past 2-months!
Natural gas futures are surging to the 3rd price count as frigid hold temps set in.
CDN $ is also surging to end the week on a very resilient economy and better employment numbers suggesting no interest rate cuts next week.
Finally, the CFTC report showed funds were net buyers of soybeans but sellers of corn, canola and wheat. In real time the funds have gone back to selling as they take some profits.