Flooding that ravaged fields across a large swath of the Prairies this summer could end up costing the farming industry as much as $3 billion, BMO Capital Markets said. Deputy chief economist Doug Porter said the situation is not quite as dire as the 2003 mad cow crisis that, by some estimates, cost the beef [...]
The province of Ontario has announced that it is supporting its grain and oilseed producers by temporarily extending the sectors’ Risk Management Program (RMP) pilot for the 2010 crop year. The program helps farmers offset losses caused by low grain and oilseed commodity prices. In 2010, prices for grain and oilseed have dropped more than [...]
In the aftermath of this year’s heavy rainfall and devastating floods, BMO Bank of Montreal has launched a Financial Flood Relief Program for its commercial customers affected by the extensive damage. “We want to assist our farm customers that were affected by the flooding. This program will help alleviate the difficulties being faced by farmers [...]
Help is on the way for prairie farmers dealing with excess moisture and flooding through the largest and fastest AgriRecovery relief package to date. The Governments of Canada, Saskatchewan, Alberta and Manitoba, will make up to $450 million available to help farmers take immediate steps to protect and restore damaged cropland. "Farmers are resilient when [...]
Unprecedented wet weather across the Prairies has dampened the crop forecast. The Canadian Wheat Board said in its preliminary crop outlook released on June 11 that about 7.7 million hectares will be seeded to wheat – the smallest area since 1971. The barley crop is looking at its worst seeding since 1965 with about [...]
The Alberta government is offering crop and forage producers a new online system to purchase Straight Hail Insurance 24 hours a day from Alberta’s Agriculture Financial Services Corporation (AFSC). The new online option provides clients with a choice of purchasing Straight Hail Insurance on the AFSC website, or through traditional methods, such as at an [...]
Alberta’s beekeepers can protect their business from high winter losses in their bee colonies by purchasing Bee Overwintering Insurance before the June 20 application deadline. Bee Overwintering Insurance, provided by the Alberta government through the Agriculture Financial Services Corporation (AFSC), is a valuable investment in business-risk-management. This insurance program, the only one of its kind [...]
