GFM Network News

Canada expects Britain to be part of CETA

Reading Time: 2 minutes London | Reuters –– Canada expects Britain to be part of the CETA trade deal between Canada and the European Union, and stands ready to work with Britain on how the system will function after Brexit, Finance Minister Bill Morneau told BBC radio on Wednesday. He also defended Canada’s NAFTA trade deal with the U.S. […] Read more

Brexit – good or bad for us?

While the ag sector looks for stability in currency markets, short-term price spikes and long-term trade agreements may get overlooked

Reading Time: 3 minutes Financial markets began to stabilize within days of the U.K.’s surprise Brexit vote this past June, but that doesn’t mean the vote has been shrugged off either by the big exchanges or by the markets that set the prices for farm commodities. It does mean, however, that the world is coming to terms with the […] Read more

In an unusual move, AGCO president and CEO chose to introduce new Challenger tractors to stock market investors rather than at an agricultural event.

Bad news for ag’s Big 3 farm equipment manufacturers

With three-quarters of machinery makers already planning lay-offs, Brexit’s damage to the EU is creating more worry

Reading Time: 4 minutes On the eve of Britain’s June 23 vote, I was in Hungary eating supper with a group of journalists including a freelancer who is also part of a family farm operation in England. She was the one to correctly predict the “leave” victory. That farmers would vote to leave the EU was astonishing to me. […] Read more

Britain to plug EU funding gap for farms, colleges

Reading Time: 2 minutes London | Reuters — Britain will fill a gap of as much as 4.5 billion pounds (C$7.5 billion) in funding for agriculture, universities and its regions that will open up when Britain leaves the European Union, finance minister Philip Hammond said. Scientists, farmers and others who got EU funding were facing uncertainty after Britain voted […] Read more

Canada/EU trade pact seen possible despite headwinds

Reading Time: 3 minutes Canada still has a good shot at ratifying its trade deal with the European Union, despite turmoil within the EU, according to Canadian government officials. The United Kingdom’s recent referendum vote to leave the EU doesn’t legally change the ratification of the Canada/EU Comprehensive Economic Trade Agreement (CETA) in any way, a federal official said […] Read more

EU farming chief wants rapid Brexit talks, plans new dairy aid

Reading Time: 2 minutes Hannover, Germany | Reuters — Europe’s agriculture industry, already grappling with a dairy crisis, wants rapid talks about Britain’s exit from the European Union to minimise disruption, EU farming commissioner Phil Hogan said on Thursday. “Farmers know better than anyone that you need stability and certainty to plan for the future,” Hogan said in a […] Read more

U.S. livestock: Cattle up on short-covering, hogs mostly higher

Reading Time: 2 minutes Chicago | Reuters — U.S. live cattle futures gained for the second straight session on Tuesday, rising on short-covering and bull-spreading amid expectations for gains in cash cattle prices this week, traders and analysts said. A rebound in stock markets following declines tied to Britain’s decision in a referendum last week to exit the European […] Read more

Loonie tanks post-Brexit, but benefits minimal for farmers

Reading Time: 2 minutes CNS Canada — The Canadian dollar slipped after Britain voted Thursday to leave the European Union, a trend which one financial analyst expects to continue in an otherwise uncertain environment. But the loonie hasn’t fallen far enough to bring support to Canadian commodity markets. “Short-term, we’re going to be dealing with the day-to-day volatility and […] Read more

U.S. grains: Soy, corn drop on Brexit fallout

Reading Time: 2 minutes Chicago | Reuters — U.S. corn and soybeans fell on Friday, caught up in a broad commodity sell-off as investors shed risky assets following Britain’s vote to leave the European Union. Wheat was mixed, with the front-month Chicago Board of Trade soft red winter wheat contract eking out a small gain on short-covering while deferred […] Read more

U.S. livestock: Cattle tumble, hogs decline on liquidation after Brexit

Reading Time: < 1 minute Chicago | Reuters –– U.S. live cattle tumbled more than two per cent on Friday, extending the week’s losses to the largest in about two months, as investors liquidated holdings following Britain’s referendum vote to exit the European Union, traders and analysts said. Feeder cattle futures also fell sharply while lean hogs notched smaller declines […] Read more