Country 105

Country 105


Agriculture Report

Higher Dollar, Weaker Values

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Strengthened loonie has led to slightly weaker values.


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The Canadian Wheat Board says a strengthened Canadian dollar has led to slightly weaker values, despite higher futures prices for old crop year prices.

Durum is up five to six dollars per tonne from a month ago.

Milling wheat is unchanged to two dollars per tonne lower.

Designated barley down three dollars per tonne.

The new crop year outlook has wheat two dollars a tonne higher for most classes.

Milling durum values are up nine dollars per tonne.

Malting barley is four dollars per tonne lower and feed barley is two dollars 2 higher.

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The Western Canadian Wheat Growers Association blames the Canadian Wheat Board's export monopoly for low returns and limited delivery opportunities for durum growers this year.

The association says Prairie farmers will be required to carry over their food quality durum into the next crop year or sell it into the lower-priced feed market.

It says the prospect of carrying over durum supplies means that farmers will incur extra storage costs.

The association adds it also means that farmers will have to wait until December 2010 to receive full payment for their 2008 durum crop.

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The slow start to the growing season is likely to mean more trouble for this year's winter wheat crop in Manitoba.

Thousands of acres have already been claimed for crop insurance in the southeast part of the province.

And Canadian Wheat Board agronomist Mike Grenier says crops that did survive have now lost their edge on disease and pests.

Normally, winter wheat has a head start on spring wheat, which means it also has a better chance at to develop ahead of disease and pest outbreaks.

Grenier says it's hard to say exactly how much overall production has been affected.

He adds yield potential has also been hurt by the slow start this spring.

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A collapse in milk prices has wiped away the profits of American dairy farmers, driving many out of business while forcing others to slaughter their herds or dump milk on the ground in protest.

But nine months after prices began tumbling on the farm, consumers aren't seeing the full benefits of the crash at the checkout counter.

U-S milk exports soared last year and demand grew in countries like China while supplies dropped from Europe and Australia.

But once the global recession accelerated last fall, demand, particularly exports, fell off a cliff.

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About 900 pigs headed to a breeding facility in Russia flew from Winnipeg to Germany on the first leg of their trip.

The jet from Sea Air International in Toronto only began transporting loads for companies late last year.

Mike Van Schepdael of Manitoba-based Genesus, which produced the hogs, says the cargo jet saves time.

He says in past, the animals were shipped by truck to Toronto, Chicago or Calgary so they can get on a plane there.

 


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