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Ontario and Canada Mark Agriculture Day with Landmark Agreement

 
Ontario has signed a new bilateral agreement with the federal government that will support strategic, long-term investments that will spur innovation, economic growth and create jobs in Ontario’s agri-food sector.
 
Jeff Leal, Ontario’s Minister of Agriculture, Food and Rural Affairs, and Lloyd Longfield, MP for Guelph, on behalf of Federal Minister of Agriculture and Agri-Food, Lawrence MacAulay, were in Guelph today to make the announcement. 
 
The new Canadian Agricultural Partnership will set a solid foundation for the future of Ontario’s agri-food sector by supporting specialized research and projects that foster innovation and growth while preparing the sector for the second half of the 21st century. The agreement also includes funding to help farmers manage risks that threaten the viability of their farm, such as unpredictable weather or market volatility.
 
These investments help achieve the federal government's goal to create good middle class jobs by helping food processors develop products that reflect changing market tastes and seize new market opportunities.
 
Supporting Ontario’s agri-food sector is part of Ontario's plan to create fairness and opportunity during this period of rapid economic change. This plan includes a higher minimum wage and better working conditions, free tuition for hundreds of thousands of students, easier access to affordable child care, and free prescription drugs for everyone under 25 through the biggest expansion of medicare in a generation.
 
Source : Agriculture and Agri-Food Canada

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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!