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Resiliency In the Agriculture Sector A Highlight For 2020

The Conservative Shadow Minister for Agriculture and Agri-Food, Lianne Rood says 2020 had its fair share of challenges.
 
She says for the agriculture sector it started with trying to finish the 2019 harvest, to COVID and the new protocols it involved and the labour shortages it created.
 
"Thankfully our farmers, our producers, our ranchers we're a resilient group of people, and we've seen them
come through this. Do the best that they can to get through this. I know next year is going to be better
because of the resiliency of the industry and of folks across this country in the agriculture industry."
 
She says going forward into next year something she's been asking the federal health minister and provincial
health ministers for is a rapid testing pilot project to help get temporary foreign workers through the system sooner.
 
Rood says she's also concerned over what's happening with prices at the grocery stores.
 
"When grocery giants increase fees to suppliers, which is mostly farmers and processors, it raises the cost for them to supply to them and they have nobody to turn to, in order to recoup those costs. What your going to see at the grocery store is increases on your bills."
 
Rood is pushing for the development of a grocery code of conduct for Canada, something the provinces have agreed to look into.
 
She says it's important because it affects your everyday grocery bills, as well it can also create a shortage of supply on the shelves of small independent stores in rural areas.
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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!