GFM Network News

CBOT March 2021 soybeans with 20-, 30- and 50-day moving averages. (Barchart)

U.S. grains: Soybeans fall on South American rainfall

Russian export tax supports U.S. wheat; corn follows soybeans

Chicago | Reuters — Chicago soybean futures slid on Tuesday as rain across South America strengthened crop prospects and bolstered the global supply outlook, traders said. Corn followed soybeans lower, but was supported by strong export demand and possible export limits in Ukraine. Wheat futures fell slightly, but were bolstered by an export tax in […] Read more

CBOT March 2021 wheat with 20-, 50- and 100-day moving averages. (Barchart)

U.S. grains: Wheat soars as Russia eyes export curbs

Tightening supplies underpin corn, soybeans

Chicago | Reuters — U.S. wheat futures surged on Friday on concerns about thinning global supplies after the U.S. Department of Agriculture (USDA) slashed its grain stocks outlook and as top supplier Russia pondered export curbs. Corn and soy futures also rose as tightening supplies, particularly of soybeans, and lingering concerns about South American crops […] Read more

Dodging the taxman may be costing you

Paying some tax makes sense, but cash deferrals and pre-buying inputs don’t always, says accountant

Reading Time: 3 minutes Some of the farmers Rob Strilchuk works with seem to think that $1 is too much tax to pay. “I have clients who spend $100 to save $15 in tax,” said the MNP accountant. “I get it. I don’t want cash to go to Revenue Canada for any of my clients, either. But there is […] Read more

Add one more harvest worry to the list — the prospect of higher taxes. But experts say a personal pension could reduce that hit and provide a host of other benefits.

Worried about federal tax changes? There’s an alternative, say experts

Federal Liberal bid to close ‘loopholes’ will increase taxes on most 
farm corporations, but there’s a way to avoid that hit

Reading Time: 3 minutes Proposed federal tax changes aimed at ‘income sprinkling’ and other tax reduction measures used by corporations — including those owned by farmers — have ignited a storm of controversy. But there are “a lot of other tax strategies” that farmers can use, say financial planning experts. In July, federal finance officials announced proposed changes to […] Read more

Forget supply and demand or logistics — tax considerations may soon determine when Prairie farmers sell their grain if deferred grain cash tickets are scrapped.

Scrapping deferred cash tickets could ‘screw up’ grain-marketing system

It’s not just farmers who will be hurt if Ottawa axes tax break — 
the entire grain sector will be dramatically affected, says MNP

Reading Time: 4 minutes Removing the deferred cash ticket system won’t just hit farmers at tax time — it could also affect the entire supply chain, interrupting the flow of grain to international markets. “If they take this deferred cash ticket system away, you’re going to have farmers refusing to move grain when we need it to move,” said […] Read more

Lethbridge County ‘head tax’ ruled legal

Lethbridge County ‘head tax’ ruled legal

Feeders challenged the $3-per-head business tax on feedlots as unfair, but a judge said the municipal act allows it

Reading Time: 2 minutes Lethbridge County’s controversial ‘head tax’ will be staying put after a judge ruled the tax is legal. “We’re happy that the judge upheld the business tax,” said Lethbridge County Reeve Lorne Hickey. “He felt that under the Municipal Government Act, we were fully capable of putting that tax in place.” The $3-per-head business tax — […] Read more

Farmers can grow the Canadian economy — if they’re not shackled

Farmers can grow the Canadian economy — if they’re not shackled

Removing a tool that allows grain farmers to even out their income would hamper their ability to invest in and expand their operations 

Reading Time: 3 minutes As we enter another growing season, farmers are raising concerns over the federal government’s intention to review the option to defer cash purchase tickets — something that came with no warning prior to its mention in the federal budget. From where I sit, a mid-size incorporated family grain farm, we know that the reversal of […] Read more

Combines harvesting crop at sunset

Province needs to soften the carbon tax blow

‘Team Alberta’ is pitching enhanced carbon credits

Reading Time: 4 minutes The carbon tax has kicked in, but producers are still trying to figure out its impact — and what can be done to ease the hit on the bottom line. “Everything we buy — whether it is in inputs, fertilizers, freights, parts, machinery — all of those service providers to us are all impacted. Their […] Read more

A carbon tax is going to make fertilizer, chemicals, and machinery more expensive — and those aren’t costs Canadian farmers 
can pass on, says Stephen Vandervalk.

Farmers fear big price hit from carbon tax

The focus has been on the price of fuel, but the effect of a carbon tax on the price of fertilizer, chemicals, and machinery could be much greater

Reading Time: 5 minutes Sixty miles south of where Stephen Vandervalk farms lies the American border — an invisible line dividing farm country with the same growing conditions producing crops that will be sold to mostly the same customers. But the Fort Macleod producer worries that being north of the line is going to be a huge disadvantage when […] Read more