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Archive for June, 2013

Guelph, ON, June 26, 2013 – The Agricultural Adaptation Council (AAC) is accepting applications from Ontario organizations and collaborations that want to put innovative ideas into action by growing profits, expanding markets and managing risk under Growing Forward 2 (GF2).

GF2 offers funding assistance for:

  •  Capacity building through strategic planning, training, audits or assessments, and,
  • Project implementation that focuses on the environment and climate change, animal and plant health, market development, labour productivity enhancement, assurance systems, and business and leadership development.

“Created with a ‘client-first’ approach, the GF2 program is suited to meet the individual needs of a very broad industry,” said John Kikkert, AAC Chair. “Applicants have the flexibility to propose projects based on their own priorities within the GF2 focus areas. This is ideal for an industry that faces many challenges, and has many diverse opportunities.”

AAC is delivering GF2 programming to Ontario organizations and collaborations on behalf of the Ontario Ministry of Agriculture and Food and Agriculture and Agri-Food Canada. Pre-proposals, applications and program guides can be found on the AAC website at www.adaptcouncil.org.

Enrollment and online applications are available through the GF2 Client Portal.

The AAC is based in Guelph, Ontario, Canada, and is a leader in program delivery. The AAC is a not-for-profit organization that is made up of 67 Ontario agricultural, agri-food and rural organizations. The AAC board of directors will review all applications from organizations and collaborations and make the final funding decisions.

This programming is supported by GF2 a comprehensive federal-provincial-territorial agreement aimed at encouraging innovation, competitiveness and market development in Canada’s agri-food and agri-products sector.

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June 26, 2013 – Growing Forward 2 Funding Assistance for Capacity Building is now available for producers, processors, organizations and collaborations.  Check out the website at ontario.ca/growingforward2 for program guide and how to apply.

June 26, 2013 to September 5, 2013 – Growing Forward 2 Funding Assistance for Project Implementation is now available for organizations and collaborations.  Check out the website at ontario.ca/growingforward2 for program guide and how to apply.

Environmental Farm Program (EFP) and Growing Your Farm Profits (GYFP)  Workshops available – Register

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Ottawa, June 3, 2013
2013-080

Related Document:


As announced in Economic Action Plan 2013, the Government is inviting comments on proposed measures to eliminate the tax benefits that arise from taxing trusts and certain estates at graduated rates, as part of ongoing efforts to improve the integrity of the tax system.

The estates of most deceased Canadians are finalized and administered in a timely fashion and without inappropriate tax planning. However, some taxpayers are using estates and trusts to obtain unintended tax advantages. Eliminating the tax benefits of graduated rate taxation for trusts and certain estates would ensure increased fairness and neutrality in the federal income tax system. The proposed measures would also address the potential growth in tax planning involving existing rules and the associated impact on the tax base.

Stakeholders are also invited to comment on proposed measures involving a number of related tax rules.

Comments on the proposals outlined in the attached consultation document can be submitted to the Department of Finance at trusts-fiducies@fin.gc.ca or to the address below. The closing date for comments is December 2, 2013.

Trust Graduated Rates
Tax Legislation Division
Tax Policy Branch
Department of Finance
140 O’Connor Street
Ottawa, Canada K1A 0G5

For further information, media may contact:

Jack Aubry
Media Relations
Department of Finance
613-996-8080

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Vancouver, British Columbia, June 17, 2013 – Parliamentary Secretary for Agriculture, Pierre Lemieux, on behalf of Agriculture Minister Gerry Ritz, today announced up to $15 million for the launch of a new Growing Forward 2 program to encourage the development and adoption of new private sector or producer-funded agricultural risk management tools.

“Through Growing Forward 2, our Government has committed to helping our agricultural industry position itself to take advantage of future opportunities, respond to challenges, and continue to be a productive and profitable sector of the Canadian economy.” said Mr. Lemieux. “Bringing the farming industry and the private sector together to develop new agricultural risk management tools will result in our farmers having more and better ways to manage the risks of farming.”

The announcement was made at the second annual International Agricultural Risk, Finance and Insurance Conference. The AgriRisk Initiatives program will facilitate industry-led research and development, as well as implementation and administration of new insurance-based tools for use in the agriculture, agri-food and agri-products sector.

AgriRisk Initiatives (ARI) projects are intended to foster greater collaboration and partnership between agricultural stakeholder groups and the private sector, and to increase participation of the private sector financial services industry in providing risk management tools to the agricultural sector.

Applications for ARI research and development (R&D) project funding are now being accepted. Through ARI, the federal government will allocate up to $3 million per year over five years to fund R&D projects on potential new, industry-led risk management products and services. Approved R&D projects can be eligible for up to $500,000 in support per year. Typical activities eligible for funding include: research and development costs, data collection and analysis, legal and actuarial costs, and consultations. For more information on AgriRisk Initiatives and to apply online, visit http://www.agr.gc.ca/agririsk.

Additional ARI support to help build private sector administrative capacity to deliver new agricultural risk management tools will be announced in the summer.

Growing Forward 2 is a renewed commitment by the federal, provincial and territorial governments to ensure productivity and profitability for Canada’s agricultural sector. With a focus on innovation, competitiveness, and market development, Growing Forward 2 programs will help the industry seize future opportunities and realize its full potential as a major driver of the Canadian economy. For more information on the national Growing Forward 2 initiatives, visit http://www.agr.gc.ca/GrowingForward2.

For more information, media may contact:

Media Relations
Agriculture and Agri-Food Canada
Ottawa, Ontario
613-773-7972
1-866-345-7972

Jeff English
Press Secretary
The Office of the Honourable Gerry Ritz
613-773-1059

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MarketView June 6, 2013

Statistics Canada released the Farm Product Price Index for March 2013 yesterday:

What is the Farm Product Price Index (FPPI)? Here is the explanation provided by Stats Canada:
The Farm Product Price Index (FPPI) measures the changes in prices that farmers receive for the agriculture commodities they produce and sell. Commodities are priced at point of first transaction, where the fees deducted before a producer is paid are excluded, but bonuses and premiums that can be attributed to specific commodities are included.
The price index has separate crop and livestock indexes, a variety of commodity-group indexes such as cereals, oilseeds, specialty crops, cattle and hogs and an overall index – all available monthly and annually for the provinces and for Canada.
The FPPI is an important indicator of the economic activity in the agriculture sector. Agriculture economists and analysts interested in the health of the agriculture sector, deflating agricultural commodity prices and policy development, use the series.
The information provided by FPPI is useful to producers, producer groups, commodity analysts from the private sector such as grain companies and meat processors, international exporters, the banking sector and government agencies responsible for agriculture policies. The index compares, in percentage terms, current farm prices to prices in the time base period, 2007=100.

Statistics Canada reported the March 2013 FPPI as follows:
The Farm Product Price Index (FPPI) rose 2.4% in March compared with March 2012, as an increase in the crops index more than offset the decrease in the overall livestock and animal products index.
The FPPI, driven mainly by rising crop prices, has observed year-over-year increases since August 2010. Double digit increases were recorded up to January 2012; since that time, the rate of growth in the FPPI has slowed.
The crops index rose 6.8% in March compared with March 2012, largely as a result of the higher oilseeds index (+11.8%), which continued a growth trend that started in September 2010.
Declines in the hogs index (-10.5%) and the cattle and calves index (-4.4%) were responsible for the decrease in the livestock and animal products index.
The FPPI was 128.9 for March 2013 compared to 125.9 in March 2012. This means compared to the base period of 2007 that overall prices were 28.9 % better in March 2013.
The crops FPPI was 133.6 and the livestock and animal products FPPI was 124.3 in March 2013 compared to 125.1 and 127.3, respectively in March 2012.
Check the full report at http://www.statcan.gc.ca/daily-quotidien/130605/dq130605b-eng.htm

Disclaimer: This commentary is provided for information only and is not intended as advice

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MarketView – June 4, 2013

US Crop progress report:
Corn planting was in line with the expectations at 91% complete which is up 5% from last week and last year at this time planting was completed.
Soybean planting was on the lower end of expectations at 57% complete but up 13% from last week. Last year it was 93% completed and the 10 year average is 79%.
Spring wheat planting is 80% complete

US Crop Conditions
Corn was rated at 63% good/excellent which compares to 72% last year and 69% on 10 year average.
Winter wheat was rated at 32% good/excellent which compares to 52% last year and 47% on 10 year average.

Crop Prices:
Old Crop Corn closed yesterday at $6.5575 and New Crop Corn at $5.60
Old Crop Soybeans closed yesterday at $15.3250 and New Crop Soybeans at $13.2550
Wheat closed at $7.0875
Hamilton Soybean Meal was $574 to $583 per tonne
Corn, Soybeans and Wheat were all lower in the overnight market as of 6 am this morning, 3 cents, 10 cents, and 8 cents per bushel, respectively.

In the News:
The Andersons, Inc. and Lansing Trade Group announced yesterday they had entered into an agreement to acquire Thompsons Limited, a grain and food-grade bean handler and agronomy input provider, headquartered in Blenheim, Ontario, and operating through 12 locations across the province and in Minnesota. The acquisition is subject to certain customary closing conditions and is expected to close at the beginning of the third quarter. Further information at http://www.farms.com/news/thompsons-to-be-acquired-by-anderson-s-lansing-63259.aspx . Check out http://www.andersonsinc.com and http://www.thompsonslimited.com for information on the companies involved.

Crop Graph:
To get your local soybean spot price, simply add your local basis
• i.e. new crop future $13.2550 + local basis of -$0.39 = $12.87/bu or $472.83/tonne

soybean futures

Disclaimer: This commentary is provided for information only and is not intended as advice

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