The USDA's World Agricultural Supply and Demand Estimates (WASDE) report for June was generally bullish, with declines in U.S. corn, soybean and wheat end stocks.

That according to Dan Basse, president of Ag Resource Company in Chicago, who says the market has started to recover following a decline due to fear of possible Chinese trade tariffs.

He commented on the current mood surrounding trade.

"We needed the Chinese and the North Korean summit in Singapore and they did come through...Our secretary of state will be heading over there in the next couple of days. We don't have any meetings planned for them, but we think if we're going to march the North Korean issue down the tracks, we'll need the Chinese and that will be helpful," said Basse. "In terms of NAFTA, our president has promised not to blow up the accord. Whether it's bilateral or whether its trilateral is a question we're all thinking about. Hopefully we can still move NAFTA ahead and get some solution. The rhetoric following the G7 meeting wasn't good for either the United States or Canada."

He notes the U.S. growing season has started on a positive note, with corn and soybeans looking generally good.

Basse says July will be a key month for the crops.

More Ag News

Canola Council Says China Unwilling To Purchase Canadian Canola Seed

The Canola Council of Canada (CCC) has provided an update on market access challenges affecting all canola seed exports to China. The organization says while there was some initial optimism that…

Alberta Pork Reports A Fourth Confirmed PED Case

A fourth case of the porcine epidemic diarrhea (PED) virus has been confirmed in Alberta. Alberta Pork announced the outbreak on Friday, March 15, saying this is the fifth reported case in the…

Ag Ministers Continue To Work On China-Richardson Dilemma

Farmers and members of the agriculture industry are keeping a close eye on China following the Country's recent decision to stop importing canola from Canadian agribusiness, Richardson International.…

Carlier Talks Challenges And Opportunities With Beef Producers

Alberta's Agriculture and Forestry Minister helped kick-off the 16th Annual Alberta Beef industry Conference in Red Deer this week. Oneil Carlier met with a number of industry groups in the morning,…

Building Leaders In Agriculture

The Advancing Women in Agriculture Conference in Calgary this week drew a crowd of over 400 women from all aspects of the industry. On Monday, March 11, Catalyst CEO and Partner, Terri Holowath who…

Canada Boosts Number Of Dogs in Airports To Protect Pork Industry

On Thursday, Marie-Claude Bibeau, Minister of Agriculture and Agri-Food, announced new funding of up to $31 million to increase the number of detector dogs at Canadian airports to help prevent…

Can Canadians Afford The New Food Guide?

A new study shows the Revised Canada Food Guide released in January is actually cheaper than the old one, but the savings aren't expected to last. The research conducted by Dalhousie University and…

New Farm Credit Canada Loan For Women Entrepreneurs

Canada’s newly appointed Agriculture Minister ventured into downtown Calgary this week to highlight the government’s commitment to supporting women in agriculture. Marie-Claude Bibeau, who is also…

Canadian Grain Commission Wants Input On Falling Number And DON

As part of its grain grading modernization initiative, the Canadian Grain Commission (CGC) wants to hear from grain sector stakeholders to provide input on whether falling number and deoxynivalenol…

How Many Safety Items Can You Find On Your Farm?

A provincial farm group is celebrating Canadian Agricultural Safety Week with a scavenger hunt. AgSafe Alberta Executive Director, Jody Wacowich, says from March 11-19, they'll post a specific safety…

CochraneNow.com is Cochrane's only source for community news and information such as weather and classifieds.

Search the Biz Guide

Login