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Corn field in southern Iowa near Winterset. Corn looking better, more tassels and sulking could use some rain.

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Agriculture Headlines from Farms.com Canada East News - click on title for full story

Bank of Canada Cuts Overnight Rate for Second Time

For the second time in two months the Bank of Canada has trimmed its key overnight lending rate. In a move widely expected by markets and economists, the bank of Canada on Wednesday dropped its rate another 25 basis points to 4.5%. The cut follows the initial 25 basis point reduction the Bank announced in June – the first fall in the overnight rate in over four years. The case for another rate cut appeared to be cinched with last week’s consumer price index (CPI) from Statistics Canada, which pegged headline inflation for June at 2.7%, down from the hotter-than-expected 2.9% gain in May. “Broad inflationary pressures are easing,” the Bank said in its rate announcement today. “The Bank’s preferred measures of core inflation have been below 3% for several months and the breadth of price increases across components of the CPI is now near its historical norm.” In a meeting with reporters following today’s rate announcement, Bank of Canada Governor Tiff Macklem suggested additional

Heavier New-Crop Outlook for Peas, Lentils

Agriculture Canada has raised its 2024-25 dry pea and lentil ending stocks estimate from last month, with lentils seeing a particularly sharp increase. The government’s monthly supply-demand update on Monday estimated new-crop lentil ending stocks at 450,000 tonnes, way up from 190,000 in June and a nine-fold increase from the forecasted 2023-24 stocks of just 50,000. If accurate, it would be the heaviest lentil ending stocks level since 2018-19 at 856,000 tonnes. Meanwhile, pea ending stocks were revised up 200,000 tonnes from last month to 440,000, up from 225,000 in 2023-24 but still below the 2022-23 level of 498,000. The heavier lentil ending stocks estimate reflects a larger 2024 production estimate, with Ag Canada now projecting the crop at 2.5 million tonnes, up from 2.13 million last month and potentially the largest since the 2020 crop of 2.86 million. Based on Statistics Canada’s June acreage report, Ag Canada raised its lentil harvested area estimate to 4.13 million

Manitoba Crop Alliance Awards Inaugural High School Bursaries

Manitoba Crop Alliance (MCA) has awarded six graduating high school students from Manitoba with bursaries valued at $1,000 each. The six bursary recipients are Alara Krahn from Mather, Laura Delichte from St. Alphonse, Riley Jorgensen from Cromer, Madisyn Robertson from Neepawa, Zenith Vanstone from Miami, and Evan Whetter from Alexander. “I’d like to offer my sincere congratulations to our inaugural high school bursary recipients and wish them well in their continued studies,” says MCA Chair Robert Misko. “MCA is committed to supporting agriculture’s next generation and expanding our bursary program is one way we have demonstrated that commitment.” MCA established these bursaries to assist graduating high school students within the province of Manitoba who are planning on continuing their education at a Canadian college or university in a field that will benefit the agriculture sector. MCA also awards annual bursaries valued at $2,000 each to post-secondary students enrolled in agri

More Support for Nova Scotia Beekeepers

Nova Scotia beekeepers will have access to more financial support this year. The Apiculture Sustainable Growth and Health Program will provide eligible beekeepers up to $50,000, an increase from the maximum $27,000 in 2023. “Bees are important pollinators for the province’s fruit crops, particularly wild blueberries and apples, which are among our top agricultural exports,” said Agriculture Minister Greg Morrow. “Together with our federal partners, we’re working to make sure Nova Scotia farmers have the support they need to maintain and grow the number of hives and bees in this province – helping farmers to stay sustainable and keep producing healthy, local food.” Beekeepers expanding to pollinate more commercial crops can receive $200 per additional hive used for pollination, double the amount available last year. The program’s expansion allowance also has funding available for packaged bees, queen bees, queen cells and “nucs” (nucleus colonies), which are frames of bees removed fr

Climate Shift – Can Canadian Farms Rise to the Challenge?

Canada agriculture sector is poised to benefit from climate change, potentially becoming a key player in ensuring global food security thanks to extended growing seasons and new arable land.

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