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Ag Critic Barlow Claims AgriRecovery Funding Was Already Budgeted

The following statement was issued by John Barlow, Shadow Minister for Agriculture and Agri-Food, and Richard Lehoux, Associate Shadow Minister for Agriculture and Agri-Food:
 
“Yesterday, the Trudeau Liberals claimed they were supporting the agriculture sector, but we have since learned that the funding isn’t new. This is a slap in the face to farmers and producers across the country.
 
“Farm groups in Canada have been vocal about their need for support during this pandemic, including the Canadian Federation of Agriculture which asked the government for $2.6 billion in support. Instead of helping the agriculture sector when it needs it the most, the Liberals decided to re-announce the $125 million already budgeted in the Agri-Recovery program.
 
“This is not the first time during this pandemic that the Liberal government has re-announced programs and funding for the agriculture sector. The first major agriculture announcement the Liberals made, $5 billion in funding for Farm Credit Canada, was a 2019 campaign commitment and unrelated to COVID-19.
 
“The unprecedented nature of this pandemic calls for unprecedented action, not recycled programs by a government that does not consider the agriculture sector to be a priority.
 
“Canada’s Conservatives will continue to press the Trudeau government for real help for our agriculture sector, including reforming the Business Risk Management programs. We will always stand with our farmers and producers.”
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U.S.-China Trade “Truce” + U.S. Fed Cuts Rates Again

Video: U.S.-China Trade “Truce” + U.S. Fed Cuts Rates Again


The market was hoping for a US-China trade deal, but we got a trade “truce” for now from the keenly awaited Trump-Xi meeting at the APEC Summit.
China commits to minimum purchase commitments of 12 MMT of U.S. soybeans during the “current season” and a minimum of 25 MMT annually through 2028.
U.S. Treasury Sec Bessent said other Asian countries have agreed to buy additional 19 MMT of US soybean.
Soybean futures trading above $11 now- they normally tend to rally to $12.
As expected, US Fed cuts interest rates by -0.25% again in October to 3.75%–4.00%. No further cuts promised for this year but trade looking out to the Dec FOMC.
The Bank of Canada cut interest rates to 2.25% but raised concern over trade war damage.
Soy meal futures, remarkably, have had 14 consecutive higher close sessions. A bull market in soybeans is a bull market in soy meal!
Cattle futures lower as funds unwind out of cattle for now due to Trump headlines and objective to lower beef prices.
All major stock indices climb to new record highs. It was Mag 7 reporting week, which had mixed results. But we now have the first $5 trillion company in Nvidia!