CFFO Blog's Blog – November 2014 Archive (3)

Farming Forward in Watford scheduled for Dec. 1

The event will provide farmers with information about farm transition and funding opportunities

Canada and China extend Preliminary Joint Agreement until 2028

The extension means continued tariff-free access for canola meal

Manitoba Dealer AgWest Seeks Lifeline

One of Manitoba's largest equipment dealership networks has been given a temporary lifeline to stay in business while it seeks new financing, pursues a sale or develops a restructuring plan, as the Manitoba Court of King's Bench granted protection from creditors. AgWest Ltd. could be heading toward liquidation as the company was unable to meet payroll obligations in the middle of harvest season, according to a document filed by the company's bank, the Bank of Montreal. AgWest serves farmers at six dealerships in Manitoba at Elie, Morden, Brandon, Neepawa, Russell and Benito, as well as two locations in Saskatchewan at Weyburn and Yorkton. AgWest Ltd. has defaulted on more than $34 million in loans, according to an opening brief in a restructuring proceeding under Canada's Companies' Creditors Arrangement Act. "Since 2026, the AgWest entities have experienced significant financial difficulties, including liquidity challenges and a general inability to meet their obligations as they

Deere Plans 2 Iowa Plant Closures

John Deere announced plans to close two Iowa manufacturing plants in the next few years and move production to other cities, in a news release from the company on Wednesday. Deere said it will be closing its plant in Ottumwa, Iowa, after moving windrower and round-baler production to Des Moines. In addition, the company said it will end manufacturing at its Hagie plant in Clarion, Iowa, after moving STS sprayer production to Louisiana. Windrower production plans to move to Des Moines by the end of 2027 and round balers would follow by the end of 2028, according to Deere, followed by the closure of the plant in Ottumwa. Hagie STS sprayer production is slated to move to Thibodaux, Louisiana, beginning in 2028 with manufacturing ending in Clarion, Iowa, by the end of 2029. John Deere did not provide employment numbers or say how many jobs would be affected, although other media outlets on Wednesday reported the company has about 700 workers at the Ottumwa plant. The number of employee

Diesel Fuel Waivers Bring Engine Compatibility Concerns and Tax Rule Questions

Responding to the surge in diesel fuel prices, federal and state lawmakers introduced temporary measures intended to provide economic relief. These actions raise questions about fuel use requirements and fuel taxation. “Temporary relief measures may help reduce operating costs, but diesel users should not assume that all diesel fuels are interchangeable,” said Allen Schaeffer, executive director of the Engine Technology Forum. “Understanding which fuel is appropriate for a particular engine and complying with tax and regulatory requirements can help avoid equipment damage, unnecessary maintenance costs, warranty concerns, and compliance issues.” Texas and Alaska get ULSD exemptions Ultra-low sulfur diesel (ULSD) is the standard diesel fuel used for both on-highway and off-highway applications throughout the United States, and it is regulated to a maximum sulfur content of 15 parts per million (ppm). On Oct 5, Texas was granted a waiver to supply diesel fuel with up to 500 ppm of sul