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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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Iran War = “Trend is Your Friend” Short-Term BUT……

Video: Iran War = “Trend is Your Friend” Short-Term BUT……


Historically wars like the 2026 Iran war are bullish hard assets like grains, metals and energy! The funds are spooked and do not want to be short, but do they price in the news over time, similar to the Ukraine/Russian war that started on Feb. 24, 2022? A closure of the Strait of Hormuz is the key to the surge in crude oil, natural gas prices and fertilizer prices.  Grains are breaking out to new contract highs as a hedge against inflation.