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Agrium profit doubles

Reading Time: < 1 minute Fertilizer maker Agrium announced Wednesday in Calgary that it tallied a US$636 million profit — or US$4 a share – in the second quarter. This is the company’s strongest quarterly performance ever and more than doubles the previous high of US$229 million – or US$1.70 a share – a year ago. The profit vastly exceeded […] Read more
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Profits plummet 61 per cent at ADM

Reading Time: < 1 minute Agribusiness giant Archer Daniels Midland (ADM) has reported lower-than-expected profits because of a drop in earnings from agricultural services and wheat and cocoa processing. ADM’s earnings fell 61 per cent to $372 million, or 58 cents a share in the fourth quarter that ended June 30, compared to $954 million or $1.47 a share a […] Read more
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Ag minister makes FCC, Dairy Comission appointments

Reading Time: 2 minutes Federal Agriculture Minister Gerry Ritz today announced the appointment of John Klippenstein to the Board of Directors of Farm Credit Canada (FCC) and the reappointment of John Core as Chief Executive Officer of the Canadian Dairy Commission (CDC). Klippenstein brings a farming background and over 36 years of experience providing accounting and financial management services […] Read more
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CWB board calls for retaining third-party spending limits in director elections

Reading Time: < 1 minute The Canadian Wheat Board’s board of directors has  recommended against removing limits on third-party spending during  elections of CWB directors, as proposed last week by the federal  government.  “The existence of a limit guards against the possibility of a third party  having a disproportionate voice in an election,” said CWB board chair  Larry Hill. “Removal […] Read more
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Viterra’s gets boost from bond rating agency

Reading Time: < 1 minute Grain handler Viterra has announced that Standard and Poor’s Ratings Services today raised the Company’s long-term corporate credit rating to ‘BB+’ from ‘BB’, with a positive outlook. In its report Standard and Poor’s cited Viterra’s leading position in Canadian agribusiness and improved profitability from its integration of Agricore United (AU) as driving factors in its […] Read more
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Federal government calling for unlimited third party spending in CWB elections

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Reading Time: 2 minutes The Harper government is proposing regulatory changes that would repeal a section of the regulations for the election of directors of the Canadian Wheat Board. The move would throw open the door for unlimited spending by third parties in the debate by, “… removing the current $10,000 spending restriction on advertising expenses in place for […] Read more
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CWB announces record $7 billion revenue

Reading Time: 2 minutes The Canadian Wheat Boards (CWB) is reporting record revenue of $7 billion in sales on behalf of Western Canadian farmers. The organization’s president says the 57 per cent increase over last year reflects the ability of a single sales desk to market strategically during a period of generally overall higher prices. Ian White claims a […] Read more
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Canada objects to COOL rule

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Reading Time: < 1 minute Federal Agriculture Minister Gerry Ritz has vowed to analyze the recently-released U.S. Department of Agriculture’s country-of-origin labeling (COOL) rule to “determine the economic impacts on integrated North American markets.” In a July 30 statement, Ritz expressed disappointment with U.S. COOL legislation, saying it “may discriminate against Canadian products.” He also hinted at possible trade action […] Read more
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Ontario funds local food initiative

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Reading Time: < 1 minute The Ontario government is making a total of $12 million available over four years through the Ontario Market Investment Fund to help promote consumer awareness of Ontario-produced foods and to encourage Ontarians to buy locally. A government release said the program will help develop opportunities through trade events, marketing campaigns and industry research initiatives that […] Read more
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Farm leaders, politicians respond to WTO talks collapse

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Reading Time: 2 minutes Following the collapse of WTO negotiations earlier this week, Canadian farm leaders and politicians have largely reinforced their previous positions. Trade minister Michael Fortier was quick to say trade remains at the top of the government agenda, despite the fact that Canada was the lone holdout on some measures around supply-managed agricultural commodities. “Canada is […] Read more

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