Country 105

Country 105


Agriculture Report

June Rain Hurts Crops

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While some farmers enjoy good growing season, others are frustrated.


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While most crops in Midwestern Ontario are ahead of average development -- there are others in trouble.

The wheat crop is about 10 to 14 days ahead of normal schedule but damp weather and humidity could affect the quality and ability to use the wheat for milling purposes.

Brian Hall -- a specialist with OMAFRA -- says hay farmers are also concerned.

On the other hand -- Corn and soybeans generally look good and are developing ahead of normal schedule.

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One of the largest shareholders in Maple Leaf Foods Inc. says it will reject the company's plan to bring in a so-called "poison pill'' defence to thwart any potential hostile takeover.

Ontario Teachers' Pension Plan, which is reportedly looking to sell its 35 per cent stake in the company, says it will vote against the plan adopted by Maple Leaf's board of directors late Tuesday.

The Toronto-based company says the plan would be triggered if an unwanted suitor sought to buy 20 per cent or more of the company.

The poison pill would flood the market with new Maple Leaf shares and make a hostile takeover prohibitively more expensive for a would-be buyer.

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Durham Region MPP John O+


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