Reading Time: < 1 minute D’Arce McMillan, The Western Producer markets editor, monitors trends in the North American and global agricultural markets. Each week he hosts a market video about crops designed to help viewers understand the forces responsible for changes in the trade. The Western Producer is a member of the Glacier FarmMedia network.
VIDEO: Canada’s agricultural markets update for Aug. 3, 2016
Profit from knowing your cost of production
A video and e-learning tool on Alberta Agriculture’s website will help you boost efficiency and profitability
Reading Time: 2 minutes Not knowing your cost of production has a large impact on profitability, says a provincial business expert. “Knowing how much it costs to raise, grow, produce, or process your product enables you to calculate the price you need to make a reasonable profit,” said new venture specialist Marissa Brewer. “Going from a base cost of […] Read more
Look to sell when speculators mis-price the market
Commodity fund investors don’t always pay attention to market fundamentals
Reading Time: 2 minutes Some speculation in commodities markets is a good thing, but large amounts of speculative money these days means price swings can be very dramatic, says a provincial crop market analyst. And that can create opportunities. “It has been estimated that over a trillion dollars is involved in the commodity futures and options trade,” said Neil […] Read more
VIDEO: Canada’s agricultural markets update for July 20
Reading Time: < 1 minute D’Arce McMillan, markets editor for The Western Producer, monitors trends in the North American and global agricultural markets. His latest video update on the crops market came from the recent 2016 Ag in Motion.
New accounting standards for farms proposed
Canada’s accounting standards organization wants to make farm accounting simpler and more predictable
Reading Time: 2 minutes Canada’s professional standards body for accountants is developing new accounting standards for Canadian farms. A standardized approach will make understanding farm accounts simpler and business more straightforward, the Financial Reporting & Assurance Standards Canada says. Currently there’s a hodgepodge of ways to do farm accounts, mainly due to the unique nature of these businesses, said […] Read more
Donation supports ag technician lab
Reading Time: < 1 minute Western Tractor Company is making a donation worth $750,000 to Lethbridge College for its Agricultural and Heavy Equipment Technician apprenticeship program. The gift will support the college’s new trades and technologies facility through the creation of the Western Tractor Technology Lab — an advanced agricultural technologies room inside the first phase of the new building. […] Read more
How to establish a fair price for standing hay
Buyers should pay by the ton, not the acre, and there should be 10 to 30 per cent allowance for weather risk
Reading Time: 2 minutes Determining a fair price for standing hay isn’t an exact science, says a provincial farm business management specialist. “Hay prices are difficult to establish as they are affected by a combination of factors such as spring inventory carry-over, pasture conditions, feed competitors, cutting date, quality, yield, and location,” said Dean Dyck. “As we saw in […] Read more
Scholarships available for farm management program
Reading Time: < 1 minute Applications are being accepted for the Robert L. Ross Memorial Scholarship to attend the CTEAM program. CTEAM (short for Canadian Total Excellence in Agricultural Management and operated by Agri-Food Management Excellence) is Canada’s only national farm management learning program. During the program, farmers learn detailed financial, marketing and human relations management skills, using their own […] Read more
Don’t buy equipment from an unlicensed dealer or distributor
Reading Time: < 1 minute When buying new farm equipment, part of making an informed decision is checking to make sure the dealer or distributor is licensed. “Farmers should be aware that if they are conducting business with an unlicensed farm implement business, they will not have any protection under the Farm Implement Act,” said Jeana Les, rural engagement and […] Read more
Alberta sacks AFSC board over expenses of top brass
Limo rides, Oilers tickets, and taking gifts from vendors among the long list of accusations
Reading Time: 2 minutes The province has dismissed the board of the Agriculture Financial Services Corp. and suspended three senior executives following an internal probe into “expense and procurement practices.” “As a result of an anonymous tip, our government has uncovered very serious problems with senior government expenses and current practices at AFSC,” Agriculture Minister Oneil Carlier said at […] Read more
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