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U.S. winter wheat crop in trouble

The U.S. winter wheat crop is in terrible shape as 2022 draws to a close, but that is not necessarily a precursor of what’s to come in 2023, says an analyst.

An estimated 34 percent of the crop was rated good-to-excellent as of Nov. 29, down from 44 percent the same time one year ago.

It is the second worst score dating back to 1987 for this time of year.

The poor rating stems from that fact that there is still extreme to exceptional drought in much of the central and southern Plains regions of the U.S.

Aaron Harries, vice-president of research and operations with Kansas Wheat, said the U.S. Department of Agriculture’s poor crop ratings are accurate.

“If anything, the conditions are going downhill,” he said.

Wind gusts of 80 to 100 km/h are not helping matters.

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Canada reaches tariff deal with China on canola, electric vehicles

Video: Canada reaches tariff deal with China on canola, electric vehicles

Canada has reached a deal with China to increase the limit of imports of Chinese electric vehicles (EVs) in exchange for Beijing dropping tariffs on agricultural products, such as canola, Prime Minister Mark Carney said on Friday.

The tariffs on canola are dropping to 15 per cent starting on March 1. In exchange for dropping duties on agricultural products, Carney is allowing 49,000 Chinese EVs to be exported to Canada.

Carney described it as a “preliminary but landmark” agreement to remove trade barriers and reduce tariffs, part of a broader strategic partnership with China.