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A Canadian farm group wrote to Ontario's agriculture minister outlining losses from the U.S. Market Facilitation Program, which was launched in 2018 in response to the US-China trade war. The USDA authorized up to $12 billion in 2018 and an additional $16 billion was announced in May 2019, with per-bushel payments listed for corn, soybeans and wheat.
The group says Canadian producers suffered collateral damage.
US trade-war aid supported American production and export competitiveness, distorting grain and hog prices relative to Canadian producers. The issue is background to current trade tensions rather than a new price driver.
nfuontario.caMichelle RyanFeb 21, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
