With the drop in soybean prices, canola could see some short-term benefit.

That from Canola Council of Canada President Jim Everson, who notes purchasers are looking for different alternatives than paying a large tariff on soybeans.

However, he says volatile tariffs and politically motivated tariffs are not a good thing for the growth of the industry.

"Over the long term, we see the environment that's good for our industry is one where you have predictable tariffs and you have as much as possible a removal of tariffs internationally and a commitment from countries to following trade rules."

China has placed a 25 per cent tariff on U.S. soybeans.

With 22 million acres planted, canola is western Canada's largest and most valuable crop. This amount is about 10 times the size of soybeans.

China is Canada's second largest market for canola and canola products, with the United States being number one. Everson said last year Canada exported about $3.6 billion in total value to China, which includes seed, oil and meal.

More Ag News

AgriRisk Program Renewed Under Canadian Agricultural Partnership

The AgriRisk Initiatives Program has been renewed under the Canadian Agricultural Partnership. On Friday, Minister of Agriculture and Agri-Food Lawrence MacAulay announced that the $55 million…

Ag In Motion Sets Attendance Record

The numbers are in! Ag in Motion, which takes place near Langham, SK, surpassed its attendance expectations this week with 30,355 people taking part in the event this year. Show Director Rob O’Connor…

Teamsters Canada Members Ratify Agreement With CP Rail

Members of the Teamsters Canada Rail Conference at CP Rail have voted 65 per cent to ratify a four-year agreement covering over 3000 conductors and locomotive engineers. This comes after a short…

Japan Resumes Imports Of Canadian Wheat

Japan has resumed its wheat trade with Canada, after temporarily suspending trade in June following the finding of a handful of GM wheat plants in southern Alberta. “Japan is a long-standing, premium…

Canola Supply Strong, As Is Demand

Market Analyst Mike Jubinville with Pro Farmer Canada says when it comes to Canola, based on Statistics Canada figures, we should see a 21 million tonne crop. So, we have a good supply of canola to…

MPSG Hosts SMART Day Field Tours

Manitoba Pulse and Soybean Growers (MPSG) hosted SMART Day field tours this week in Melita and Arborg. Soybean Management and Research Transfer (SMART) Day is a half-day educational event for farmers…

Grain Industry Continues Push For WTO Challenge Against Italy

Friday, July 20th marks the one-year anniversary of Italy’s country of origin labelling (COOL) regulations on pasta. Canada’s grain industry is continuing to call on the federal government to launch…

Another Strong Year For Farm Credit Canada

Farm Credit Canada (FCC) had another strong financial performance in 2017-18. The federal crown corporation grew its portfolio by 8.4 per cent to $33.9 billion, including $3.3 billion in new lending…

Diamondback Moth Nearing Threshold Levels

Manitoba Agriculture has released its latest insect update. Diamondback moth were near threshold levels in some canola fields in eastern Manitoba and the Southern Interlake. Provincial Entomologist…

City Of Brandon & Rural Development Institute Partner On Soybean Studies

The City of Brandon is working with the Rural Development Institute (RDI) at Brandon University (BU) to conduct two research projects. The projects are a Soybean Industry Supply Chain Assessment and…

CFA Hosts Industry-Government FPT Roundtable

Agriculture industry leaders highlighted several options for economic strategy in their meetings this week with federal, provincial and territorial agriculture ministers. The Canadian Federation of…

Ag In Motion Wraps Up Today

This year's Ag in Motion event, taking place near Langham, SK, has seen strong attendance and organizers expect to break last years record of 25,700 attendees. One of the key attractions at the show…

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

Search the Biz Guide

Login