Soaring grain prices squeeze elevator cash
Surging futures prices have U. S. farmers smiling but have left many grain elevators facing a cash crunch.
As futures prices soar to levels not seen in over a year, farmers have been selling their newly harvested winter wheat bushels at a faster pace than usual, leaving elevator operators that have hedged their purchases with futures with large margin calls.
“It’s a good thing for the producer to have an opportunity for price gains at a higher level, but it throws some stress on the elevators,” said Oklahomabased Hydro Co-op Association manager L. G. Gilbert.
Read Also
Alberta Beef Producers announces withdrawal from Canadian Cattle Association
Alberta Beef Producers announced its withdrawal from the Canadian Cattle Association, effective July 1, 2026.
The pricing action is tied to a drought in Russia.
Still, a persistent wide divergence between U. S. cash wheat prices and futures prices continued to be noted through the country.
Philippines opens to rendered products
staff
The Philippines has lifted its BSE-related ban on rendered meat and bone meal (MBM) from Canada, the federal government confirmed Aug. 6.
A “concerted effort by government and industry” led to the Philippine government’s agreement to open its market to Canadian rendered animal byproducts including blood meal, poultry meal and fats, effective immediately, the Canadian government said.
The Canada Beef Export Federation estimates this Philippine market access for rendered products could reach $20 million per year, the government said.
MBM could thus form a substantial chunk of Canada’s exports of farmed foods and their byproducts to the Philippines – exports which in 2009 totalled $250 million.
Potato disease detection funded
A Quebec firm working on DNA-based disease detection and monitoring for potatoes will get $1.2 million in federal backing.
Phytodata Inc. said it’s partnering with McCain Foods Canada to develop such detection systems. The federal funding will go toward work on new and “highly reliable” ways to monitor and detect major airborne diseases in potatoes, grapes and hothouse tomatoes, reducing the need for pesticides.
Phytodata president Luc Brodeur said the funding will allow his firm to develop expertise “unmatched in the world” in detecting potato late blight, among other diseases.
