(Alice McFarlane/farmnewsNOW Staff)

By Alice McFarlane

Agriculture Roundup

Agriculture Roundup for Thursday August 22, 2019

Aug 22, 2019 | 9:59 AM

Farmers are facing a lot of price uncertainty as they start this harvest season.

FarmLink Marketing Solutions analyst Neil Townsend said farmers should be patient when selling wheat because of trade concerns. He said a good target price for wheat is $6.30 per bushel, which is lower compared to last year.

Townsend was more optimistic about canola with world demand for vegetable oil on the rise and concerns about harvest of Canadian canola this fall. He said a target price for canola is $10 per bushel or better.

Townsend said there is also a lot of uncertainty around pulse crops because of high tariffs in India. He said good target prices are $6.25 per bushel, although the current market is below that level.

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The federal agriculture minister clarified statements on the compensation package for Canada’s dairy producers.

Marie-Claude Bibeau said there was some concern about the delivery mechanism of the $1.75 billion announcement.

She said she understands dairy farmers want direct compensation. The federal government will pass out $345 million this year in the form of direct payments in proportion to their quota.

Bibeau added the government will continue to work with the Dairy Farmers of Canada to determine terms and conditions for future years.

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Grain Farmers of Ontario (GFO) is disappointed that the federal government’s compensation package for dairy farmers does not include support for grain farmers.

Chair Markus Haerle said Ottawa is neglecting grain farmers who have been affected by the volatile trade environment that has been created by political decisions outside of their control.

The China and U.S. trade war and Canada’s strained relationship with China are making it difficult for producers to market their crops.

Haerle said GFO will continue to advocate for better risk business risk management programs for grain farmers.

He added a trade war fund could help farmers being hurt by trade disputes.

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Elanco Animal Health Incorporated has entered into an agreement with Bayer AG to acquire its animal health business.

Last fall Bayer announced it would be making changes to its business, including a reduction of more than 12,000 jobs, in addition to other business restructuring changes such as selling off its animal health division.

The deal is worth $7.6 billion and is still subject to regulatory approval and other customary closing conditions.

According to a news release, the transaction will double Elanco’s Companion Animal business, advancing the company’s intentional portfolio mix transformation and creating a balance between its Food Animal and Companion Animal segments.

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alice.mcfarlane@jpbg.ca

On Twitter: @AliceMcF