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Protecting the health and safety of farm workers during COVID-19

Ottawa, Ontario – The Government of Canada will continue to protect the health and safety of all Canadians from COVID-19, including those in the agricultural sector who work hard to provide us with high-quality food. 
 
Agriculture and Agri-food Minister, Marie-Claude Bibeau, today announced that applications are now being accepted for the Emergency On-Farm Support Fund in certain provinces and territories. This fund provides a $35 million investment to improve health and safety on farms and in employee living quarters to prevent and respond to the spread of COVID-19. 
 
The Emergency On-Farm Support Fund will provide support to farmers for direct infrastructure improvements to living quarters and work stations, temporary or emergency housing (on or off-farm), as well as personal protective equipment (PPE), sanitary stations, work stations and any other health and safety measures to safeguard the health and safety of Canadian and temporary foreign workers from COVID-19. 
 
The Fund will be delivered by Agriculture and Agri-Food Canada (AAFC) in Alberta, Saskatchewan, New Brunswick, Newfoundland and Labrador, Yukon, Northwest Territories and Nunavut. 
 
Contributions under the AAFC-managed program will be cost-shared 50:50 with the applicants up to $100,000. An additional 10 per cent will be provided to women and youth applicants making the split 60:40 as the government is taking steps to promote and empower women and youth in the agricultural sector.
 
In the other provinces, work continues with provincial governments to finalize the delivery arrangements with announcements expected through the coming weeks.
Source : Government of Canada

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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!