Farms.com Home   News

Irrigation, Broadband Part Of Government's $10 Billion Infrastructure Plan

On Thursday, Prime Minister Justin Trudeau announced $10 billion in new major infrastructure initiatives. The Canada Infrastructure Bank’s (CIB) Growth Plan is expected to create approximately 60,000 jobs across the country.
 
The three-year Growth Plan will invest in five major initiatives:
 
- $1.5 billion for agriculture irrigation projects in Western Canada. This includes the addition of an estimated 700,000 acres of newly irrigated land
 
- $2 billion to connect approximately 750,000 homes and small businesses to broadband in underserved communities
 
- $2.5 billion for clean power to support renewable generation and storage and to transmit clean electricity between provinces, territories, and regions, including to northern and Indigenous communities.
 
- $2 billion to invest in large-scale building retrofits to increase energy efficiency and help make communities more sustainable
 
- $1.5 billion to accelerate the adoption of zero-emission buses and charging infrastructure
 
"Increased irrigation can help farmers grow higher value crops and more crops per acre. It also makes water usage more efficient and helps provide protection from droughts. These types of investments will have positive impacts for years to come, helping mitigate the impacts of erratic weather events," said Canadian Federation of Agriculture President Mary Robinson. "Rural broadband has been a long-standing issue for Canada's farmers and rural communities. With the arrival of COVID-19, many services pivoted to become entirely online, highlighting the fact farmer's lack of high-speed connectivity puts us at a significant business disadvantage. Rural broadband is not only necessary for today's farmers to conduct business and take advantage of cutting-edge technology, it is also critical to attracting new, young farmers into the industry. We know younger generations see high-speed connectivity as essential to everyday living and business."
 
The CIB will also allocate $500 million for project development and early construction works.
 
Through the Canada Infrastructure Bank, the federal government has committed $35 billion to support infrastructure projects across the country.
Click here to see more...

Trending Video

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.