GFM Network News


U.S. grains: Corn, soy, wheat slide with financial markets

Drop in oil prices adds pressure on corn

Chicago | Reuters — U.S. grain and soybean futures fell on Friday as the spread of the new coronavirus triggered broad selling in commodities and equities. Wall Street tumbled as fears of economic damage intensified with the global tally of cases crossing 100,000. Financial markets view the virus, which causes a flu-like illness, as the […] Read more






Since most farm equipment is imported from the U.S., the rise in the Canadian dollar will lower the tab 
for new machinery.

Higher loonie will have many impacts

MARKET WATCH: A low dollar shielded Canadian farmers from lower commodity prices but it also raised the cost of farm equipment and inputs

While you were busy growing crops and raising livestock this summer, a rising dollar has been taking aim at your profits. The growing season started with the loonie trading under the 75 U.S. cents mark — and many analysts sticking to the theory it would stay low as long as oil prices remained in the […] Read more

In the last year, the Surface Rights Board has received more than 750 new applications from producers who haven’t been paid for their oil leases.

Oil companies bucking their commitments

Farmers are struggling to get oil companies to pay their leases and complete reclamation work on abandoned wells

There’s a wet spot originating from an oil well in Anthony Bruder’s pasture that his cows won’t drink from. “I’ve seen cows walk up to it, sniff it, and then walk a half-mile to the other end of the field to drink from the lake,” said Bruder, who farms near Twin Butte. “If the cows […] Read more


Crude’s slide hampers demand for Canadian biofuel

CNS Canada — The trickle-down effect of slumping crude oil prices is being felt in the Canadian biofuel market and softening demand for corn and soybeans. Traditionally, ethanol is cheaper than gasoline, which encouraged processors to blend more than the mandated amount, according to Andrea Kent, president of the Canadian Renewable Fuels Association (CRFA). “When […] Read more

Oil bust could mean skyrocketing property taxes

Some Alberta municipalities are being hit hard as oil companies stop paying

With oil prices bottoming out around $30 a barrel, oil companies are scrambling to save money — sometimes at the expense of farmers. “Some companies are just deciding not to pay the annual rentals,” said Daryl Bennett, who represents the Action Surface Rights Association in southern Alberta. Last year, the Surface Rights Board had more […] Read more



Global markets: Japan, Germany cut economic forecasts

CNS Canada –– The following is a glance at the news moving markets globally. JAPAN CUTS INDUSTRIAL PRODUCTION, ECONOMIC OUTLOOK – The Japanese government downgraded its assessment of industrial production and identified some areas of weakness in a monthly government report released on Wednesday. The reduced forecast for industrial production is due to weaker demand […] Read more