Friends Of The CWB To Pursue Claim Against The Government Of Canada

Dec 08, 2020

A unanimous ruling by the Manitoba Court of Appeal gives a green light for the Friends of the Canadian Wheat Board to continue with their claim against the Government of Canada.

Stewart Wells, Chair of the Friends of the Canadian Wheat Board says the legal action can proceed.

"The alleged offenses occurred during the Harper administration when Gerry Ritz was the Minister of Agriculture and their government was destroying the CWB.”

He says the December 2nd ruling decided unanimously that a legal action against the Government of Canada for "malfeasance in public office" in relation to the privatization of the Canadian Wheat Board is valid and proper.

“Thanks to the decision of the Manitoba Court of Appeal, we can continue our legal process which calls for the repatriation of $150 million to farmers that were marketing wheat and barley through the CWB in 2010/11 and 2011/12. The legal action also calls for $10 million in punitive damages, and with interest accruing since 2012 the total number would be in the $190 million range."

The Friend of the CWB press release notes that Manitoba farmer and Class Plaintiff Andrew Dennis has for the past 8 years argued in Court that the Harper government did not have the right to transfer approximately $150 million in cash assets away from farmers and instead direct that money towards the payment of restructuring costs and the government of Saudi Arabia and the grain company Bunge.

The FCWB believes this seizure amounted to a “sweetener” added to the gift of CWB assets that was made to G3 Limited which is owned by the government of Saudi Arabia and the grain company Bunge. Bunge has since sold its shares to the government Saudi Arabia which now owns most of G3.

Click here to see more...

Video: Is China Buying US Soybeans + USDA Nov 14th Crop Report could be “Game Changing”

After a week of a U.S./China trade truce, markets/trade is skeptical that we have not seen a signed agreement nor heard much from China or seen any details. There are rumors that China is buying soybean futures & not the physical. Trust in Trump?
12 MMT of U.S. soybean purchases by China by year-end is better than 0 but we all need to give it more time and give it a chance to unfold. China did lower the tariffs on Ag and is buying U.S. wheat and sorghum.
U.S. supreme court could rule against Trumps tariffs, but the Trump administration does have a plan B.
U.S. government shutdown is now the longest in history at 38 days.
But despite a U.S. government shutdown we will be getting a USDA November crop report next Friday and it could be “game changing.” If the USDA provides a bullish surprise with lower U.S. corn and soybean yields and ending stocks that are lower than expected both corn and soybean futures will break out above their ceilings at $4.35/bu and $11.35/bu respectively.
The funds continued their selling in live and feeder cattle futures on continued fears that the Trump administration want to lower U.S. beef prices. The fundamentals have not changed, only market psychology has.
Stocks markets continue to worry about a weak U.S. job market, but you can blame ChatGPT for that. In the future, we will have a more efficient, productive and growing economy with a higher unemployment rate until we have more skilled AI workers.
After 34 new record highs in the S & P 500 and 124 new records in the NASDAQ in 2025 we are back to a correction and investor profit taking as AI valuations may have gotten too stretched near-term ahead of NVDA’s 3rd quarter earnings announcement on Nov. 19th. But this is not an AI bubble.
75% of Tesla shareholders approved a $1 trillion pay package for Elon Musk!
It has rained in South America in the last 7 days, but both the American and European models agree that Central Brazil remains dry in the next 14-days!

Successful dry bean harvest in Ont.

Canadians support Indian farmers