Farm Credit Canada has raised its 2026 forecast for overall inflation as commodity prices spike due to war in the Middle East.
Tag Archives fuel prices
FCC raises inflation forecast on surging commodity prices
Canadian consumers may have little if any cushion remaining against future economic shocks, ag lender warns
Fuel hedging platform wins AIM innovation award
Rack Petroleum Ltd.’s HedgeHog app allows users to confirm a guaranteed price for diesel for future delivery up to two years into the future.
German farmers protest with tractors against austerity measures
The German government proposed to abolish fuel subsidies to meet savings targets
According to next year's budget, a partial tax refund on agricultural diesel, along with a tax exemption for agricultural vehicles, will be abolished to meet the saving targets - a measure farmers said would threaten their livelihood and the competitiveness of Germany's agricultural sector.
FCC sees calmer waters ahead on input market
Has the market finally steadied, or it is the calm before another storm?
Glacier FarmMedia – Farmers can breathe a sigh of relief knowing crop input prices have stabilized as the world adapts to global supply challenges. That was the message as Farm Credit Canada provided its latest update on input prices for the 2024 crop year. Why it matters: Wild price swings for crop inputs, especially fertilizer, appear […] Read more
Will oil hit US$100? It already did in some markets
Saudi Arabia, Russia 'in solid control'
London | Reuters –– With oil investors and traders focused on an oil-price rally that has come close to US$100 a barrel, some grades of crude oil are already trading above that milestone, highlighting an expectation of tight supply. The outright price of Nigerian crude Qua Iboe surpassed $100 a barrel on Monday, according to […] Read more
Extent of Saudi oil production cut unclear
Reported tensions within OPEC limit price gains
MarketsFarm — At the OPEC+ meeting Sunday in Vienna, Saudi Arabia announced it will cut its oil production by one million barrels per day (BPD) come July. And while that move was bullish for the markets, by how much remains to be seen, said Phil Flynn of the Price Futures Group in Chicago. “It’s probably […] Read more
GM CEO says ‘we are selling every truck we can build’
Rising fuel prices not seen undermining big truck demand, yet
Detroit | Reuters — General Motors CEO Mary Barra said on Monday the automaker is “selling every truck we can build” and expanding North American truck-building capacity, even as U.S. gasoline prices hit record highs. Barra made her comments during the automaker’s annual shareholder meeting. GM is pursuing a two-track strategy: Investing heavily in electric […] Read more
High fuel costs a burden for drying grain
Fuel is one of many cost increases for elevators and farmers
High propane and natural gas costs loom ominously over growers and grain dryers. According to Ron Campbell, operations and member service manager with the Ontario Agri-Business Association (OABA), the upward trend of per-bushel drying costs is a universal concern for the province’s grain elevators. While specific numbers for fuel are hard to identify, particularly propane, […] Read more
Diesel prices, carbon tax cause headaches for farmers
MarketsFarm — Crude oil prices have been steadily on the rise since last November as oil-producing nations implement production cuts and Canadian farmers already affected by climbing diesel prices will have to dig deeper into their wallets this April. On April 1, the federal government’s carbon levy on diesel will go up from 8.05 cents […] Read more
Tight supplies could see diesel prices rise
CNS Canada – As supply tightens, farmers should consider stocking up on diesel before it’s too late, according to an analyst. “We think the market’s getting kind of overdone down here and this might be your best chance…if we do get a cold winter I think we’ll see these prices really pop,” said Phil Flynn […] Read more