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Another Ag Industry Hit Hard by COVID-19

Potatoes are a staple for many in our country but with the COVID-19 pandemic, Alberta's potato industry is being hurt.
 
Southern Alberta's three major potato processors, Cavendish Farms, McCain Foods, and Lamb Weston, have cut the total size of contracted acreage this spring by 20 to 25 percent.  All three companies site plummeting sales, mainly in french fries, as the determining factor.  The cause of this is the restrictions and closures in the restaurant industry. The non-profit industry group Potato Growers of Alberta says that the processors have either shut down or are preparing to do so as they have no room in their freezer storage.  Many farmers are concerned as they have crop from 2019 yet to be sent to the processors.  
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Wheat Futures Head for the Moon on Escalating Drought Concerns

Video: Wheat Futures Head for the Moon on Escalating Drought Concerns


???? Wheat surges on drought: Prices jumped to multi-week highs as worsening dryness grips the Plains, with 70% of winter wheat in drought. Corn edged higher, while soybeans slipped.

??????? Mixed weather pattern: Rain improved parts of the Corn Belt, but drought worsened elsewhere—especially the High Plains and Kentucky. Nebraska conditions sharply deteriorated, with 56% in extreme drought.

????? Oil spikes on tensions: Crude climbed over 3% near $96 as Iran keeps the Strait of Hormuz restricted, while fragile ceasefires keep geopolitical risk elevated. ???? Pulses gain favor: Farmers are shifting to peas and lentils as a rare profit opportunity, driven by strong protein demand and lower input costs.

???? Exports mixed but solid: Corn sales dipped week-over-week but remain strong overall; soybean and wheat sales showed mixed trends, with steady global demand.