Farm bill hot topic at UCP debate in Red Deer

Oct 04, 2017

Alberta party’s leadership candidates focus on ag, social issues

By: Kate Ayers

Staff Reporter

Alberta’s four United Conservative leadership candidates promised yesterday to end the NDP government’s farm safety bill if elected in 2019.

Jeff Callaway, Brian Jean, Jason Kenney and Doug Schweitzer outlined intentions to revoke Bill 6 during a leadership debate in Red Deer last night, according to a CBC online news article.

“Bill 6 was an unnecessary attack on Alberta farmers and I believe our Conservative government should repeal it within weeks of forming office,” said Kenney on stage.

The farm safety bill was passed December 2015, subjecting farms and ranches to health and safety rules, despite producer opposition.

“We have to look around and listen to them,” Jean said. “You know, like actually having a committee hearing and invite farmers and ranchers and those groups that represent them. What a surprise that would be.”

Besides agriculture, other topics of discussion last night included the national carbon tax, the Kinder-Morgan pipeline expansion, equalization payments and providing services for lower-income Albertans.

Two more debates are scheduled (Fort McMurray on Oct. 12 and Lethbridge on Oct. 17) before a leader will be chosen. Voting starts on Oct. 26 with the winner announced Oct. 28 in Calgary.

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!