Sydney | Reuters — Australia will import its first shipment of wheat in more than a decade as a drought across the country’s east coast wilts supply in the world’s fourth largest exporter of the staple grain. Australia’s Department of Agriculture and Water Resources said late on Tuesday that it has approved an import permit […] Read more
Tag Archives drought — page 33
Australia to import first wheat in 12 years as drought bites
Suitor quits bid for Australia’s GrainCorp
Sydney | Reuters — Australia’s largest-listed grain handler, GrainCorp Ltd., said that suitor Long-Term Asset Partners (LTAP) has withdrawn its A$2.4 billion (C$2.26 billion) takeover bid after due diligence, pushing shares to five-month lows. GrainCorp stock dropped 11 per cent at the open of trade on Tuesday to hit close to where it stood preceding […] Read more
Climate change has U.S. fund managers adjusting agriculture investments
New York | Reuters — After historic floods devastated Midwestern agricultural states this spring, some fund managers are evaluating how climate change will affect the long-term value of companies that make or sell products ranging from tractors to fertilizer. The issue is not simply the unpredictability of weather. Instead, fund managers say, they are struggling […] Read more
Feed weekly outlook: Barley acreage buoyed despite current prices
MarketsFarm — International demand for Canadian feed barley has been strong thanks to a 2018 growing season drought in Australia that limited exportable supplies. China purchased nearly 950,000 tonnes of Canadian barley in the first seven months of the 2018-19 year, significantly above the five-year average. However, feed markets in general are quite sluggish ahead […] Read more
Livestock tax deferral map expands again for 2018
Some northern and southwestern Ontario producers who had to sell breeding livestock due to drought in the 2018 tax year can now defer chunks of the income from those sales when filing their income taxes. The federal government on Wednesday rolled out its final list and map of designated regions for 2018 under its livestock […] Read more
Unusual third assessment run for livestock tax deferrals
In an unusual move, Agriculture and Agri-Food Canada has undertaken a third assessment for the federal livestock tax deferral. “Federal officials are currently finalizing the analysis to identify whether any additional regions have met the criteria for the livestock tax deferral,” AAFC spokesperson James Watson said. Under the deferral plan, cattle producers affected by severe […] Read more
Pulse weekly outlook: Market depends on India’s fortunes
CNS Canada — When it comes to Canadian pulse crops, David Newman of Commodious Trading says producers, speculators and processors are long — and that has been of great concern to him. “You have everybody wanting to sell and you better hope that there’s someone there to take all of it,” he said. The wildcard […] Read more
Drought to cut east Australia crop output in half from 20-year average
Melbourne | Reuters – Drought is expected to cut eastern Australia’s crop production this year to less than half the average over the past 20 years, with New South Wales to be worst hit, the country’s agricultural commodities forecaster said on Friday. While some regions are facing the worst conditions in memory, the Australian Bureau […] Read more
Canadian canola could make its way into Australia
CNS Canada — A potential shortage of canola on Australia’s east coast has the oilseed industry there musing about the potential of importing Canadian canola to keep processing plants going. A story Tuesday on the Australian website Farm Online quoted Australian Oilseeds Federation CEO Nick Goddard as explaining the potential for Canadian canola to make […] Read more
Wheat trade hoping for big export year
CNS Canada –– Canadian wheat growers could find themselves popular with international buyers this winter, as world wheat stocks hit lows not seen for a decade. Marlene Boersch, managing partner at Mercantile Consulting Venture, said the present 26-day wheat supply available to world markets, once China’s stockpiles are removed from the equation, should boost prices […] Read more
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