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Alberta Declared PCN Free

Potatoes are a billion-dollar industry for Alberta and this week the industry received some good news.
 
Alberta has been declared Potato Cyst Nematode free.
 
The Potato Cyst Nematode is a destructive pest that lives in the soil and has the potential to dramatically impact potato yields.
 
In 2007, the CFIA had placed two fields in Alberta under a Notice of Prohibition after routine testing raised suspicion of the presence of PCN.
 
Potato production in those fields were halted, and years of restrictions and surveillance for producers across the province followed.
 
Other Alberta potato farmers were ultimately able to resume export of seed potatoes to the U.S. in January 2009.
 
For Alberta seed potato growers the issue around PCN has continued to impact international market access.
 
The province was able to help line up the funding needed to get seed potatoes back in the ground.
 
Overall, a total of 39 farmers, including the two with the suspect fields received about $16 million through federal-provincial assistance.
 
After the 2020 tests all came back negative the CFIA lifted the restrictions.
 
The work around the PCN free announcement was a team effort between the affected farm, the Government of Alberta, Potato Growers of Alberta, CAP programming and the Canadian Food Inspection Agency.
 
PCN is regulated under the province's Agricultural Pests Act and is a federally quarantined pest.
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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!