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Key Funding For Agriculture In Provincial Budget

The Saskatchewan Party tabled its Provincial Budget on Tuesday laying out expectations for a $2.6 Billion dollar deficit.
 
Agriculture Minister David Marit is pleased with the funding for his Ministry noting the majority of the money goes to protect producers.
 
"With 265 million in the Business Risk Management Programming, and 150.1million for the Crop Insurance program as well. In crop insurance, this is a record average coverage of $273 an acre. We are also putting an additional $2 million in the wildlife damage compensation program which really helps every producer in the province of Saskatchewan regardless if you're in crop insurance, or not."
 
He says the province sees a lot of value in and remains committed to funding Agriculture Research.
 
"We will continue to build the agriculture industry here in the province of Saskatchewan, with $32.9 million in funding for Agriculture Research, which matches last year's record level of funding. And we will have $71.2 million for strategic programming under the CAP program. Examples of this are the Farm and Ranch Water Infrastructure program, which many of the farmers and ranchers in the southwest know very well about, and also value added incentives."
 
Marit says there's also investments in irrigation over and above what was announced for Lake Diefenbaker last year and $2 million in Wildlife Damage Compensation.
 
Other budget announcements that are expected to have an impact on the Agriculture sector include the funding for improved cellular service for rural Sasktel customers, as well as funding for highway and road infrastructure, and $530 thousand for a new Short-line Rail Infrastructure Program.
 
He also sees the $5 million investment for the establishment of international trade offices in four additional locations as being key to help market Saskatchewan's production to the world.
 
Saskatchewan currently has international trade offices in Japan, India, Singapore and China.
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Soybeans and corn were mostly firm Wednesday | Market Minute for 1/3/24

Video: Soybeans and corn were mostly firm Wednesday | Market Minute for 1/3/24

Brownfield Commodity Market Reporter John Perkins has your look at the mixed finishes in soybeans, corn, cattle, and hogs, along with the losses in wheat.

- March corn $4.65 and ¼ up 1 and ½ cents

- January soybeans $12.69 and ½ down 4 and ½ cents

- January soybean meal $381.00 up $2.10

- January soybean oil 48.10 up 31 points

- March Chicago wheat $6.00 and ¼ down 6 and ½ cents

- February live cattle $171.85 down $.07

- February lean hogs $65.30 down $.02