Country 105

 

     
Country 105

Country 105


Agriculture Report

Largest Wheat Exports In A Decade

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The Canadian Wheat Board exported 2.3 million tonnes of wheat in April.


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The Canadian Wheat Board is reporting its largest month of exports in more than a decade.

In April, the board exported 2.3 million tonnes of wheat, barley and durum, well above the 10-year average of 1.3 million tonnes for April movement.

The previous high was recorded in November 1997.

The board has launched an aggressive sales program, encouraging farmer deliveries to meet sales commitments, particularly for number 1 and 2 red spring wheat and number 1 durum.

Significant exports are expected to continue this month and next.

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The Environmental Protection Agency has issued a final rule banning the use of the pesticide carbofuran on food crops, saying it poses an unacceptable health risk, especially to children.

The insecticide, sold under the brand name Furadan, has been under agency review for years.

Its granular form was banned in the mid-1990s because it was blamed for killing millions of migratory birds.

The agency began its effort to remove the pesticide completely from the market in 2006.

Philadelphia-based F-M-C Corporation, which makes the chemical, says Furadan remains a useful product, vital to the sustainability of agriculture and that its proper use does not create a risk to human health, wildlife or the environment.

The ban goes into effect at the end of the year.

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A long-running trade clash between the United States and the European Union over hormone-treated beef is almost resolved.

U-S trade representative Ron Kirk says that could pave the way for an end to other disputes between the world's two biggest economic powers.

The E-U last week agreed to buy more high-value American beef to avoid having classic European products such as Italian mineral water and French Roquefort cheese slapped with punitive sanctions by the U-S.

Brussels says beef from cattle treated with growth hormones is a health hazard, but Washington points out the World Trade Organization has repeatedly ruled there is insufficient evidence of that.

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Fertilizer giant Agrium Inc. has again increased a bid to buy U.S.-based CF Industries Holdings Inc.

The new offer raises the cash portion of Agrium's bid 14.3 per cent to US $40 per share plus one Agrium share for every CF share.

That brings Agrium's total offer for CF Industries to $85.20 per share or $4.12 billion based on Agrium's closing stock price on Friday.

Agrium's former offer was $35 in cash per share, but CF said that was inadequate and also an attempt to stop its own hostile takeover of rival Terra Industries Inc.

Calgary-based Agrium says the new bid is a 68 per cent premium above the 30-day volume weighted trading price of CF's shares.

The new offer expires June 15.

 


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