AgraSight Newsletter | Apr 25th, 2021
An essential read covering developments in agribusiness, agroscience, & agrotech but not limited to.
Hello and welcome back for another read…
Your very important and friendly reminder going into seeding to Look-up and Live… Accidents involving farm machinery and powerlines are more common than you think. According to the National Agricultural Safety Database, approximately 62 farmers die every year after being electrocuted by powerlines. Others suffer burns and disturbances to heart rhythm that may later result in heart failure. Each year in Saskatchewan alone, there are roughly 300 incidents where farm equipment contacts overhead power lines.
Farm equipment is becoming much larger and with that increase in size the risk of overhead hazards increases… If you plan on using your awesome new setup this season it might be a good idea to double-check your way of travel…
Contents:
A Blessing for Western Producers?
Soybean Supplies Look Tight
The Buzz Around Honey Markets, Isn’t Buzzing at All
Apr 25th - May 1st Forecast
Read Time: 5 Min.
Markets
A Blessing for Western Producers?
New feed grain policy in China could be a blessing for western Canadian Famers. Guidelines recommended that hog and poultry producers use less corn and soymeal aiming for better use of raw materials.
We have seen crops benefit before from Chinas attempts to diversify its feed grains and this could open the door to additional imports of competing feed ingredients like wheat, barley, and peas. China’s new guidelines promote the use of all types of different feed ingredients like wheat, barley, peas, rice, cassava, sorghum, distillers grains, and many different oilseed meals.
Canada’s top wheat customer this year to date — China.
Soybean Supplies Look Tight
More good news for Canadian producers that are growing Canola. U.S. Soybean supplies are going to be tight in 2021-22. Why is that a good thing? Because any positive price momentum for U.S. soybeans in 2021-22 will compliment canola prices north of the border.
However, do keep in mind USDA drought maps show severe to extreme drought in North Dakota and western South Dakota with additional dry conditions appearing in parts of Iowa and Illinois.
Buuut… Modern genetics have performed admirably under such conditions in the past.
Agrotech
The Buzz Around Honey Markets, Isn’t Buzzing at All
I have written about cellular agriculture technology that is allowing scientists to develop “meat” that doesn’t come from an animal, or “milk” that doesn’t come from cows in my newsletter before, but now MeliBio, based out of California, has found a way to make honey without the buzzz!
The food tech start-up plans to hit the market with animal-free honey products as soon as next year. Although, if it is not made by bees, can they sell it off as real honey?
Defining real honey has been a recurring problem for honey producers as there are many fake honey imports, mostly derived from China where manufacturers are blending honey with sweeteners and exporting and selling it off as “pure honey”.
The Canadian government needs to develop an identity standard for honey for Beekeepers. If MeliBio and companies like it have success with their synthetic honey, there will be a flood of players entering the market, currently valued at $9 billion USD annually.
Weather
Apr 25th - May 1st Forecast
Good chance for rain or snow on Monday in the Thunder Bay area with a temperature high of 3 degrees. 30% chances of showers Tuesday. Mostly sunny on Wednesday and heading into the weekend with a high of 16 degrees on Friday.
Slight chance for rain later Sunday with gusting winds up 50 km/h from the south but looking like a dryer week thereforth staying into the positive double digits and hitting 16 degrees on Tuesday with a high of 17 degrees on Friday.
Mainly sunny all week with a mix of clouds. Southwest wind around 20 km/h Sunday. Mostly double digits on the positive side with a high of 16 degrees Thursday and Friday.
Mixture of sun and cloud throughout the week and moderate winds on Sunday afternoon. Positive double digits all week with the exception of Wednesday looking at a high of 4 degrees. No signs of precipitation.
High of 18 degrees on Thursday. Cloudy with a good chance of showers Monday and periods of rain the rest of the week with the exception of Tuesday.
Ag Action Quick Bites
— New spending totalling $104.1 billion in the recently announced federal budget is designed to support farmers combatting climate change. Some producers will also receive direct payments as a result of carbon pricing.
— Regina has become a smoking hot spot for proposed canola crush plants. Cargill announced April 22nd that it plans to break ground on a $350 million facility in the city early next year.
— USDA will open CRP enrollment with higher payment rates, new incentives and a more targeted focus on the program’s role in climate change mitigation.
— U.S. farmers evaluate carbon market opportunities available today, most have more questions than answers. There are at least three clear trends in the carbon marketplace, says Amy Skoczlas Cole, executive vice president of Farm Journal’s Trust In Food.
— Nurtien’s Board of Directors have appointed Mayo Schmidt as President and Chief Executive Officer, effective immediately. Mr. Schmidt succeeds Chuck Magro. Nutrien ialso announced that RussGirling, former President and CEO of TC Energy, has been named Chair of the Nutrien Board of Directors.
Disclaimer:
Information contained herein is believed to be accurate but is not guaranteed. AgraSight and information sources assume no responsibility or liability for any action taken as a result of any information or advice contained in these reports, and any action taken is solely at the liability and responsibility of the user.
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“Your most unhappy customers are your greatest source of learning.”
— Bill Gates