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Wheat Growers Disappointed In Supreme Court Ruling On Constitutionality Of Carbon Tax

The Western Canadian Wheat Growers is expressing disappointment in the ruling by the Supreme Court of Canada upholding the constitutionality of the carbon tax.
 
“The Liberal federal government’s plans to reduce greenhouse gases through taxation is ill conceived. They are placing a huge financial burden on family farms. With the ongoing increases in the carbon-tax moving to $170/tonne by 2030, I am concerned that many family farms will be taxed so high that the next generation will leave the industry,” said President Gunter Jochum.
 
In a news release, the organization says that research shows that Western Canadian grain farmers are already net-zero emitters. The group notes that steps taken by grain farmers through no/low-till seeding, equipment improvements such as the use of GPS and drones, seed varieties and highly productive inputs, have resulted in increased carbon sequestering and storage as well as increased production.
 
Wheat Growers says that the world commodity prices that Canadian farmers must sell their grain at will not offset the continuously increasing cost of the carbon tax, adding this is a losing proposition for all Canadian grain farmers.
 
“All parts of the grain value chain are able to pass along the increased cost of the carbon-tax, except farmers. Farmers deal with world commodity prices and the carbon tax decreases their competitiveness in the world market,” said Jim Wickett, SK Director and Secretary-Treasurer.
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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!