Coronavirus creates concern about impact on Saskatchewan farm exports

There are some concerns about the impact of the coronavirus outbreak on Saskatchewan farm exports.

Grain market analyst Errol Anderson with Pro-Market Communications says ocean freight rates for bulk commodities like grain have collapsed 90 percent in recent months.

He says China consumes half of many of the world’s global commodities.

He says grain traders are cautious right now and feel corn markets could be on the decline, partly because of worries over the coronavirus.

But Anderson says if the coronavirus peaks shortly, grain markets could see a spring rally.

Federal Agriculture Minister Marie-Claude Bibeau is worried about the impact of the coronavirus on Canadian farm exports.

Bibeau wants to see if Canada can offer any help to China because of the coronavirus outbreak.

Bibeau says China is a huge market and she wants to ensure continued access for Canadian farmers.

 

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