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APAS Releases Report On Impacts Of Carbon Tax

In December, Ottawa announced more increases for the federal carbon tax that would see it reach $170 per tonne by 2030.
 
The Agricultural Producers Association of Saskatchewan has done some number crunching on just what that will mean for farmers.
 
President Todd Lewis says when you look at the costs associated with growing wheat, that would put the cost at over $12.50 an acre in 2030 due to the carbon tax.
 
"It's really going to affect the sustainability of the industry long-term if we see these increased costs passed 100% on to producers. It's going to make investing in new technologies and improving our carbon footprint, it will make it more difficult to do that. So, it's really counterintuitive to what they're trying to establish here with these changes."
 
Lewis notes these costs would be even higher in years like 2019, when most of the grain and oilseed crops required grain drying due to a wet harvest.
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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!