Now Is Not The Time To Scrap Farm Fuel Tax Break: Farmers

Mar 17, 2017

Anxious farmers got no reassurance that subsidies they receive — including tax breaks for farm fuel purchases — will be continued after the provincial budget comes down next week.

“We’re forced to consider everything in this budget, and that’s one of the things that’s been considered,” Agriculture Minister Lyle Stewart told delegates Wednesday at the annual Saskatchewan Association of Rural Municipalities’ (SARM) convention in Saskatoon.

“As for tax change and tax cuts, you’ll have to wait ’til March 22.”

Stewart was responding to a question posed by a delegate from the RM of Weyburn, who said now is not a good time for the government to entertain the idea of reducing tax breaks for farmers.

“Coupled with rising commodity prices and this impending carbon tax, we could see a significant change to what we as producers and farmers and ranchers are paying for fuel,” the man said during a 90-minute “bear pit” session Wednesday morning as cabinet ministers fielded an array of questions from SARM delegates.

Source : Leaderpost

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!

OFA heads to Parliament Hill on March 23

Trump’s budget includes a 21 per cent cut to the USDA