GFM Network News


AgDealer plugs into forex service provider

Listing site to offer currency exchange service on cross-border purchases

Reading Time: < 1 minute Farmers buying used iron internationally by way of AgDealer are getting access to what’s billed as a lower-cost option to handle the currency exchange. AgDealer, Canada’s largest used farm equipment shopper publication and online listing platform, announced a partnership Tuesday with OFX Group, an Australian-based online currency exchange provider. Farmers, distributors and buyers outside of […] Read more

CBOT weekly outlook: The good and bad between the U.S., China

Reading Time: 2 minutes MarketsFarm — The current relationship between the United States and China has continued to be rather chaotic, according to Steve Georgy, president of Allendale Inc. at Fort McHenry, Ill. Despite the two countries’ diplomatic row, China has sharply picked up its purchases of U.S. soybeans. Georgy pointed to the 715,000 tonnes purchased by China on […] Read more


China tells state firms to halt purchases of major U.S. farm products

Purchases of soybeans, pork, corn, cotton on hold

Reading Time: 2 minutes Beijing/Singapore | Reuters –– China has told state-owned firms to halt purchases of soybeans and pork from the United States, two people familiar with the matter said, after Washington said it would eliminate special treatment for Hong Kong to punish Beijing. Large-volume state purchases of U.S. corn and cotton have also been put on hold, […] Read more

U.S. announces coronavirus aid for farmers, food buys for poor

Direct payments, mass purchases planned

Reading Time: 2 minutes Chicago | Reuters — President Donald Trump on Friday announced a $19 billion relief program to help U.S. farmers cope with the impact of the coronavirus, including $16 billion in direct payments to producers and mass purchases of meat, dairy, vegetables and other products (all figures US$). The U.S. Agriculture Department is partnering with regional […] Read more


CBOT weekly outlook: Commodities hold up while waiting on China

Reading Time: 2 minutes MarketsFarm — There’s no doubt commodities on the Chicago Board of Trade have struggled since the coronavirus outbreak in China, but the situation could be worse, a trader said. “I personally think the markets… are holding up pretty well with all of the negative news,” said Scott Capinegro of Barrington Commodities in Barrington, Ill. Some […] Read more

Machinery costs driving up fixed farming expenses

Reading Time: < 1 minute MarketsFarm — Fixed costs on farms continue to rise year-over-year, a statistic largely attributed to increasing land values and interest rates. At the beginning of 2019, Farm Credit Canada (FCC) reported farmland values across Canada increased by an average of 6.6 per cent during the previous year. But that’s not the main driver of fixed […] Read more


ICE weekly outlook: Don’t expect China to buy if Huawei exec goes free

Reading Time: 2 minutes MarketsFarm — ICE Futures canola traders have been keeping a close eye on this week’s extradition hearings for Huawei executive Meng Wanzhou in Vancouver. The hearing is to determine whether Meng will be extradited to the U.S., which requested her arrest by Canadian authorities in December 2018. China, in the wake of that arrest, detained […] Read more

U.S., China reset trade relationship with Phase One agreement

Reading Time: 2 minutes Washington | Reuters — The United States and China announced an initial trade deal on Wednesday that will roll back some tariffs and boost Chinese purchases of U.S. goods and services, defusing an 18-month conflict between the world’s two largest economies. Beijing and Washington have portrayed their “Phase One” agreement as a momentous step after […] Read more



Grain flow shifts from China trade war may last years, CHS says

Reading Time: 2 minutes Chicago | Reuters — The U.S.-China trade war has accelerated Brazilian efforts to erode the United States’ share of the world soybean export market, and some of the shifts in global grain flows could last for years, according to executives at CHS Inc., the largest U.S. farmer co-operative. Even with a so-called ‘Phase One’ trade […] Read more