Along with your textbook reading, review the articles below for a brief insight into Canada’s current wheat market. Did you know that Canada is the world's sixth-largest producer and one of the largest exporters of wheat? About half of all Canada’s wheat is grown in Saskatchewan, followed by Alberta and Manitoba. “This year the weather smiled on us, and we made a crop,” says a wheat farmer near Minnedosa in Manitoba. “But just as we made a crop, the economic situation changed.” This quotation brings to mind the old saying, “If you are a farmer, the weather is always bad.” In what sense might this saying be true? If the Canadian farmer made a bumper crop this year and there is a shortage of wheat in the United States due to a drought, what are his options? What is your opinion if you learned that the U.S. was employing trade protectionism against Canada’s wheat and is importing from France instead? Conclude with a brief audio reflection, no more than 60 seconds, on an important concept you learned from this exercise. Present your summary in class, or record and attach an audio reflection file to your initial written post online.
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Winnipeg – Canadian farmers will likely seed less canola and more spring wheat in 2019, but the extent of any acreage shifts remains to be seen as market participants await Statistics Canada’s first seeded area estimates of the year on April 24.
Canola prices in Western Canada have dropped over the past few months, as a trade dispute with China cuts into export demand. The uncertain trade situation has farmers questioning their planting intentions, but rotational issues will likely limit the exodus from canola.
“Farmers really aren’t sure what to do right now,” said broker Keith Ferley of RBC Dominion Securities. He described the dispute with China as “a cloud hanging over the market.”
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