New Equipment Helps Produce Growth in Cape Breton Agriculture

Nov 21, 2018

Mabou, NS – In Cape Breton’s Inverness and Victoria counties, industry collaboration is helping attract new entrants to the agricultural sector and is strengthening overall economic performance. Non-profit organizations like the Inverness/Victoria Federation of Agriculture work to improve collaboration, co-operation and consultation among industry members, through shared resources and knowledge transfer. Members of the Federation have a common objective to promote the sustainability of regional growth in the agriculture and agri-food sectors.

The volunteer-run association has served the agricultural community in the Inverness and Victoria areas for more than 80 years. Through the Inverness/Victoria Federation of Agriculture machine rental services, member farms are able to access specialized farm equipment to increase productivity and encourage innovative farming methods. The community-shared equipment helps to grow established farms and attract new producers by offsetting high start-up costs for new operations.

Rodger Cuzner, Member of Parliament for Cape Breton – Canso, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA), announced a $183,720 non-repayable contribution through ACOA’s Business Development Program to assist the Inverness/Victoria Federation of Agriculture with the purchase of new agricultural equipment for community use.

The contribution will allow the Federation to advance and diversify its machine rental services to include new equipment and technology with BioSecurity features to prevent the spread of contamination between farms, increase operational efficiencies and streamline methods for collecting, clearing and processing crops.

The Province of Nova Scotia, through the Nova Scotia Farm Loan Board, provided an $80,000 loan towards the project.

This investment builds on commitments made by the Government of Canada and the four Atlantic Provinces to drive economic growth in the region through the Atlantic Growth Strategy, which supports strategic investments that accelerate the growth of resource-based industries such as the fisheries, forestry and agriculture.

Source : Government of Canada

Video: Will the 2025 USDA December Crop Report Be a Market Mover/Surprise?

Historically, the USDA December crop report is a non-event or another dud report as the USDA reserves any final supply changes to the final report in January of the following year in this case 2026. But after the longest U.S. government shutdown in history at 43 days and no October crop report will they provide more data/surprise and make an exception?
Our China U.S. soybean purchase tracker is now at 26.6% or a total of 3.2 mmt but for traders it’s taking too long to unfold.
The final Stats Canada production report was bearish canola and wheat projection a record crop in both (it adds to the global glut of supplies) and bullish local corn and soybean prices in Ontario/Quebec thanks to a drought. It will not help the fund flow short-term, the USDA may need to offset it?
A U.S. Fed interest rate cut of another 25-basis point next Wednesday (probability 87.1%) could help fund flow and sentiment in stock and ag commodities into year end.
More inflows into Bitcoin this past week saw prices rebound back above 90,000 with support at 82,000 and resistance at 96,000.
A V-shaped bottom in cattle suggest the lows are in after Mexico reported another new world screwworm case. Lower weights, seasonal demand and higher U.S. beef select/choice values with a continued closure of the Mexican border to cattle will result in a resumption of higher cattle futures into yearend.
Australia is expected to produce its 3rd largest wheat crop ever at 36 mmt adding to the global glut of supplies.
Reports of ASF in hogs in Spain the largest pork exporter in Europe could see the U.S. win more pork export business long-term.
If the rains verify into next week of 3-5 inches for Brazil it would go a long way to fixing the dry regions from the last 2-months, but the European weather model has been wrong for the past 2-months!
Natural gas futures are surging to the 3rd price count as frigid hold temps set in.
CDN $ is also surging to end the week on a very resilient economy and better employment numbers suggesting no interest rate cuts next week.
Finally, the CFTC report showed funds were net buyers of soybeans but sellers of corn, canola and wheat. In real time the funds have gone back to selling as they take some profits.