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

Agriflash Headlines for October 15

Canada West Foundation CEO Says Consumers Will Pay for the Billions to Compensate Dairy Farmers The CEO and President of the Canada West Foundation says, Canadians will still be paying too much for…

Canada West Foundation CEO Says Canada Should Dismantle Supply Management

The President and CEO of the Canada West Foundation believes dairy farmers and Canadians would be better off without supply management. Martha Hall Findlay says, as well as allowing the Americans…

Alberta Farm Animal Care Takes The Show On The Road To Lethbridge

A provincial organization based out of High River was at the Alberta Livestock Expo this week. Alberta Farm Animal Care (AFAC) was one of the 120 booths at the event on Wednesday, October 10 and…

USDA October WASDE Report 'Modestly Friendly'

There was a slight bump in the markets Thursday following the release of the USDA October World Agricultural Supply and Demand Estimates (WASDE) report. Jon Driedger, senior market analyst with…

Canada's Ag Minister Concludes EU Tour

Canada's Agriculture and Agri-Food Minister, Lawrence MacAulay, has concluded his agricultural outreach mission to Europe. During his trip, he visited Spain, Belgium and Italy. "The Canada-European…

Agriflash Headlines for October 12

Providing Indigenous Peoples Easier Access to Government Ag Programs A new direct line of support is now available to assist Indigenous peoples and communities to provide easier access to government…

Dairy Farmers Say Market Access Given Up In USMCA Is Closer To Four Per Cent

Under the new U.S.-Mexico-Canada Agreement (USMCA), dairy farmers in this country are expecting to lose about $192 million every year as a result of the market access that was given up to the…

Ag Fieldman Says Moisture For Pastures A Plus Side To A Wet Fall

Although the snow has delayed harvest, Vulcan County's Ag Fieldman says the moisture for pastures may be a bonus to this damp Fall. Kelly Malmberg says, they never had a killing frost until the end…

Agriflash Headlines for October 11

Dairy Farmers Say Market Access Given Up in USMCA Closer to 4 Per Cent Under the new U.S.-Mexico-Canada agreement, Canadian dairy farmers are expected to lose about $192 million annually as a result…

Harvest Progress Now 40 Per Cent Behind Average Pace

About 40 per cent of crops have been harvested in Alberta, which is well behind the average pace thanks to an unusually wet and cold fall. According to Alberta Agriculture and Forestry's latest crop…

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

Login