It is a paradigm shift," said Richard Gray, a professor of agricultural economics at the University of Saskatchewan. "It is quite dramatic. Corn is already priced on its energy value (as the raw material for the massive new U.S. ethanol production industry) and corn is now driving wheat prices. "The wheat prices that came out this week are higher than the highest prices we saw last year," she said. "But I'm still not advising my clients to sell tomorrow because I think they will go higher yet." "I've got another market for my grain. A very big market. It changes all the fundamentals," he said. "It puts us grain producers in the oil business and how great is the oil business."
The company that makes Buhler Versatile tractors -- the last farm tractor company in Canada -- announced this week that the Cummins engines Buhler uses in its tractors have been approved for B20 biodiesel. That being said, as the domestic fleet ages, dealer inventories dwindle and broader macro fundamentals improve, we expect both sales and pricing power will exhibit significant positive momentum," wrote [Ben Cherniavsky]. "We expect this recovery will become initially evident in the back half of 2007 and pick up momentum through 2008. Buhler's second-quarter results are to be released in the middle of next week and so [Ossama AbouZeid] was not able to elaborate on Cherniavsky's analysis other than to say he does not disagree with much of it.
Overall, producers received prices for crops that were 12.3 per cent above levels in January 2006, continuing the upward trend in year-over-year...
Despite record-high commodity prices, he says a number of Manitoba producers will have a difficult time putting a crop in the ground this spring. In March, the National Post reported that rising commodity prices made unprotected grain bins a tempting target across the Prairies.
Estimates by people who watch the market are very much just that," said Bob Tebbutt, vice-president of risk management at Peregrine Financial Group Canada Inc. of the broad difference between predictions and the actual inventory amount. "It's almost a fool's game, but it is important in how different the market actually...
Latin America's recent bout of prosperity has been driven by record-high commodity prices and inflows of foreign investment, both of which are now under threat as the US financial crisis threatens to engulf the world - scaring investors and driving down the price of commodities, beginning with oil. [...] even though the United States may not presently have a very clear Latin America policy, it remains the most influential external player in the region: its military effectively oversees the region's air and sea space; its multinationals are present in most countries; free trade agreements are being offered throughout the hemisphere; millions are being invested in Colombia's security; and significant efforts are being made to counter the influence of Hugo Chavez.
If you're a have-not province like Manitoba, Nova Scotia or New Brunswick, your dependence on Ottawa ensured you would be slower to take the hit of the recession. The bad news is Manitoba is going to lag in the recovery. We have a lot more to lose from Ottawa dealing with its deficit than Alberta does because we get a lot more of Ottawa's deficit than Alberta does," [John McCallum] said. "Three years ago, we were in the sweet spot of Manitoba's economic cycle. We had a competitive dollar, big federal transfers, decent commodity prices, a strong U.S. economy and all kinds of federally funded construction projects, like the floodway. Whatever the opposite of sweet is, that's the part of the cycle we're in now," McCallum said. "The public is still lagging. They see people impacted with un...
The least rosy view came from John McCallum, a finance professor at the University of Manitoba's I.H. Asper School of Business. He said unless you're blessed with "100 billion barrels of oil," it's virtually impossible to build an economy that can escape a recession under all circumstances. McCallum said Manitoba depends on a "decent level" of commodity prices, a strong U.S. economy to buy its imports, low interest rates, healthy infrastructure spending and considerable transfer payments from Ottawa. With commodity prices falling, the U.S. economy already in recession according to many observers and slower provincial economies elsewhere threatening federal transfer payments, Manitoba can't help but take a hit. When you step back, we've got a really diverse economy yet there are some em...
The damage is reflected in other responses. More than 90 per cent of respondents believe that the exploration and development activities of exploration companies will be curtailed, with 57 per cent saying that activity will decline "a great deal." Nearly 85 per cent of respondents believe that the activities of production companies will be curtailed, though only 31 per cent believe that the activity of production companies will decline "a great deal. Globalization and the move to market oriented economies around the world powered the increases in commodity prices prior to the recent downturn. Despite the fact-free anti-globalization movement, all the research shows that the move to market economies and freer trade resulted in dramatic prosperity growth and poverty reduction in reformin...
When commodity prices are high, a tandem truck of canola is worth more than $5,000. Because grain sitting in a bin isn't covered by crop insurance -- it's only insured until it's harvested -- RCMP are urging producers to consider using grain confetti in their bins.
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