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Ex-Viterra chief Schmidt named Nutrien’s new CEO

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tagged agribusiness Agrium CEO Chuck Magro ConAgra Fertilizer Mayo Schmidt Nutrien potash PotashCorp Saskatchewan Wheat Pool Viterra
Canadian fertilizer and ag retail giant Nutrien has tapped a familiar name in agribusiness to lead the company, as the CEO it's had since birth steps aside. Saskatoon-based Nutrien said Monday its board has named its current chairman, Mayo Schmidt, as the company's new CEO. Replacing Schmidt as Nutrien's chair is Russ Girling, former CEO of TC Energy. As CEO, Schmidt replaces Chuck Magro, who said Monday he's stepping down from that post and his spot on the board of directors to pursue…
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U.S. livestock: Live cattle futures extend slide

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tagged beef Cattle closing markets CME feeder cattle futures hogs lean hog live cattle Pork Swine USDA wholesale
Chicago | Reuters -- CME Group live cattle futures fell on Monday, extending their slide to eight straight sessions on long liquidation and signs that surging wholesale beef prices may have reached a seasonal top, analysts said. Feeder cattle futures felt additional pressure from a jump in Chicago Board of Trade corn futures, a sign of rising feed costs. CME June live cattle settled down 0.575 cent on Monday at 118.6 cents/lb., and August feeder cattle futures fell 1.775 cents to…
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U.S. grains: Corn up on weather outlook, weaker dollar

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tagged cbot China closing markets Corn futures Midwest Plains planting seeding soybean USDA weather Wheat
Chicago | Reuters -- U.S. corn futures rose on Monday, flirting with multi-year highs set last week, as forecasts for frosty weather and precipitation raised concerns about the pace of planting and germination, analysts said. A weaker dollar lent support, theoretically making U.S. grains more competitive globally. Soybeans followed corn higher, but wheat was choppy, turning lower on profit-taking after reaching a six-week top. Chicago Board of Trade May corn settled up 6-1/2…
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Federal budget to offer direct payments to farmers for carbon pricing

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tagged budget Canada carbon pricing Chrystia Freeland Clean Fuel Standard clean technology COVID-19 emission reductions farmers federal fuel efficiency grain dryers House of Commons Ottawa payments quarantine temporary foreign workers TFWs
The federal government's 2021 budget offers up new spending to support farmers combatting climate change through targeted investments -- and, in some cases, direct payments. Finance Minister Chrystia Freeland released the budget Monday, showing the majority of new spending will take place over three years and be largely focused on "green growth." "Budget 2021 announces the government's intention to return a portion of the proceeds from the price on pollution directly to farmers in…
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Conservatives’ new climate plan puts price on carbon

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tagged agriculture border tariff carbon credit carbon offset carbon price carbon tax CCUS Conservatives emissions Erin O'Toole farming methane natural gas policy Renewable Fuel trade
Canada's ag sector is expected to serve as a carbon sink, a renewable fuel source and a beneficiary in the federal Conservative Party's new climate change plan — which now includes putting a price on carbon. Party leader Erin O'Toole announced the new plan Thursday — after a long campaign of vehemently opposing such policy. Billed as being backed by credible and professional modelling, the party's proposed plan forecasts reducing emissions at the same pace as Canada's current…
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Agriculture, agrifood wish lists pile up ahead of long-delayed budget

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tagged agriculture AgriResilience AgriStability Canada Chrystia Freeland federal budget financial support food food processing labour strategy reference margin skills
Agriculture and agrifood sector stakeholders will learn Monday which of their requests make their way out of the pile and into a long-awaited federal budget. Federal Finance Minister Chrystia Freeland's 2021 budget is scheduled to be released Monday in the House of Commons, at about 4 p.m. ET. Canadians didn't get a 2020 budget: it was an early casualty of COVID-19, cancelled in the pandemic's infancy. Economic updates and a series of spending announcements, almost entirely…
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Prairie cash wheat: Bids soar after weather events

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tagged alberta Canadian dollar cash wheat cbot CPSR CWAD CWRS drought durum frost K.C. wheat manitoba MGEX Minnesota Montana North Dakota Plains prairies saskatchewan Snow Wheat wheat bids wheat futures winter wheat
MarketsFarm -- Cash bids for Prairie wheat jumped as wintry weather made its way across the Prairies and U.S. northern Plains during the week ending Thursday. Wheat futures in the U.S. rose due to spillover from soybeans. However, a stronger Canadian dollar tempered Prairie wheat prices. Manitoba and Saskatchewan, as well as Montana, North Dakota and Minnesota, all received varying amounts of snow during the week, but not enough to fully alleviate dry conditions across the…
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Grain, oilseed exports at strong pace

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tagged Barley Canada Canola CGC exports grains Oilseeds tonnes Wheat
MarketsFarm -- Canadian grain and oilseed exports continue at a strong pace, with movement of canola, wheat and barley all running well ahead of the year-ago pace. Crop-year-to-date exports of Canada's major grains and oilseeds as of Sunday came in at 37.78 million tonnes, according to Canadian Grain Commission (CGC) data. That's up by roughly 31 per cent from the same time the previous year. Of that total, canola exports of 8.3 million tonnes through 36 weeks of the 2020-21…
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U.S. grains: Soybean futures rise

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tagged acres cbot closing markets Corn funds futures planting seeding soybean Wheat
Chicago | Reuters -- U.S. soybean futures rose on Friday, gaining ground on corn contracts as the market tried to entice farmers to boost acreage of the oilseed despite the yellow grain's rally to its highest in nearly eight years earlier this week. "The last two weeks all the talk has been about the corn and the dryness and the cold weather," said Mark Gold, managing partner at Top Third Ag Marketing. "Today it is just the beans saying, 'Don't forget about us.'" Corn futures…
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U.S. livestock: Cattle, hogs down on demand concerns

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tagged beef Cattle closing markets CME COVID-19 feeder cattle futures hogs lean hog live cattle Pork slaughter Swine
Chicago | Reuters -- CME Group hog futures fell sharply for the second day in a row on Friday, with the most-active June contract sinking 2.9 per cent to its lowest since March 23. Cattle futures also were weaker, with the June live cattle contract notching its seventh straight losing session. The market was correcting from a sharp rally fueled by expectations of demand from restaurants picking up as COVID-19 restrictions were eased in the United States. But the reopening has…
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