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Time Is Running Out On AgriStability Proposal

As of Tuesday morning, Federal Agriculture Minister Marie-Claude Bibeau was still waiting for a response from the Prairie provinces regarding her AgriStability proposal.
 
The proposal was put forward during the Federal, Provincial and Territorial Agriculture Minister’s meeting in November. Ottawa is proposing to remove the reference margin limit for AgriStability, as well as increase the compensation rate from 70% to 80%.
 
She addressed the media during Keystone Agricultural Producer's (KAP) AGM.
 
"To make any significant changes as those I have proposed, we need two-thirds of the provinces to agree and the weight of each of province is based on the level of participation of the farmers of the province. For us to reach this two-third level, we need two of the three provinces."
 
Bibeau says they'll need a response in the next few days.
 
"I've said that if we want to make it retro-active for 2020, we can not go any further than the end of the month of January. I don't want to close the door for improvement for this year and next year, so the sooner the better."
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Video: 2026/27 South American Early Soybean Planting Pace a Record + A Repeat of 1998 in Hogs?


Despite a Super Strong El Nino the early South American soybean planting pace is ahead of schedule.
The long-term forecast looks dry for the North but wet for the South including Argentina.
China bought 1.5 mmt of U.S. soybeans this week with rumors of 2 mmt and now at 68% of 25 mmt commitment.
The question mark remains the Chinese pledge towards the $17 billion in ag purchases.
NOPA weekly crush report was lower than expected. Another hot U.S. wholesale inflation print this week.
Investors rotating out of AI
Weak U.S. pork demand weighing on hogs
+ CFTC.