Farms.com Home   News

Governments fail to take action on farmer supports

Ottawa – Members of Grain Growers of Canada (GGC) are expressing their disappointment at the lack of response to the industry’s call for specific changes to the AgriStability program. While the Federal, Provincial and Territorial (FPT) governments had the opportunity to enact real change when they came together at last week’s annual Ministers’ meeting in Quebec City, the Communique issued June 19th offered no concrete commitments to Canadian grain farmers.
 
“As grain farmers, we have to ask where the government’s sense of urgency is,” said Jeff Nielsen, GGC Chair and farmer in Olds, AB. “Real progress on Business Risk Management Programming was needed, and I would suggest achievable, long ago and yet we emerge from another FTP meeting with nothing tangible.”
 
In May of this year GGC joined its fellow members of the AgGrowth Coalition in calling for specific changes to the AgriStability program, one of a suite of BRM programs offered under the Canadian Agricultural Partnership. This call came amidst the mounting pressures of trade disruptions and the need to create certainty for farmers.
 
The FPT Minsters failed to provide any response to this call and have instead called on their departments to provide solutions by end of this year. All this with a federal election on the horizon and a lack of certainty that any recommendations provided will ever be actioned.
 
“It is getting a bit frustrating, from a farmer perspective,” said Markus Haerle, GGC Vice-Chair. “As an industry we provided governments with reasoned, practical solutions to long-standing problems with BRM programs and all we got back were commitments to further consultations. I really wonder if the governments have any idea of the realities of running a modern grain farm in these volatile times.”
 
It is the hope of GGC members that the conversations currently underway between federal and provincial agriculture Ministers and bureaucrats and the members of the AgGrowth Coalition continue to move towards implementation of the recommended changes to AgriStability. These changes need to be put in place as soon as possible so they can start to mitigate the impacts of the escalating trade volatility being felt by grain farmers across Canada.
Source : Grain Growers Of Canada

Trending Video

U.S.-China Trade “Truce” + U.S. Fed Cuts Rates Again

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!