Way Too Many Potatoes, Farmers Find Ways to Dump Their Crops

Due to the COVID-19 pandemic, there are an over abundance of potatoes in Canada and worldwide.  According to the United Potato Growers of Canada, approximately 200 million pounds of potatoes are in limbo.

 

Processors in our province are full as many restaurants that would typically purchase french fries are closed or are purchasing substantially lower amounts.  Some farmers in Idaho have such extreme surpluses of potatoes, they're dumping crops and dairy farms have started feeding potatoes to their cattle. Despite a growing demand in grocery stores, potato prices have plummeted in the last few weeks due to social distancing and a lack of demand in restaurants and the food industry. Only a few weeks prior, the industry was looking at the best prices in recent memory with even a projection of a summer shortage of spuds.

 

There has been an initiative in Canada and around the world to help potato farmers, eat more french fries.  French fries account for approximately 65% of the total potato crop in Canada.  So, to help our Alberta potato farmers, maybe have french fries as a side more often.  

Video: USDA Feb Crop Report a WIN for Soybeans + 1 Year Trade Truce Extension

USDA took Trumps comments that China would buy more U.S. soybeans seriously and headline news that the U.S./China trade truce would be extended when Trump/Xi meet in the first week of April was a BIG WIN for soybeans this week! 2026 “Mini” U.S. ethanol boom thanks to 45Z + China’s ban of phosphates from Feb. – August of 2026 will not help lower fertilizer prices anytime soon! 30 mmt of Chinese corn harvest is of poor quality and maybe a technical breakout in wheat futures.

*Apologies! Where we talk about the latest CFTC update as of 10th Feb 2026, managed money funds covered their net short position in canola to the tune of +42,746 week-on-week to flip to net long 145 contracts and not (as we mistakenly said) +90,009 wk/wk to 47,408.