As world grain prices come down from the record breaking roller-coaster of the past year many people are asking: Is the boom over?
The global economic crisis will be a major topic of discussion at Canada’s premiere grains conference – GrainWorld. The crisis is spreading across multiple sectors world-wide – but what does it mean for agriculture? Industry experts will converge at GrainWorld 2009 to discuss the economy and how it is affecting farmers and the agriculture industry in Canada and around the world.
Warren Jestin, Scotiabank’s senior vice-president and chief economist will kick off the conference by providing a macro-economic outlook the morning of Feb. 23. Despite unprecedented stimulus efforts, Jestin’s recently-released economic forecast warns of a deeper recession and slower recovery than Bank of Canada projections.
“It will take time for these remedial efforts to recapitalize battered bank balance sheets, kick-start ‘shovel-ready’ infrastructure projects, and resuscitate output growth,” Jestin says in the forecast. “And recovery efforts could be further threatened if the globe’s shaky trading environment is compromised by protectionism.”
Globe and Mail national affairs columnist Jeffrey Simpson will build on Jestin’s remarks by discussing the state of Canada-U.S. trade relations. Simpson, an award-winning columnist and author of several books, is the keynote speaker Feb. 24.
Conference chair Bruce Burnett says with unprecedented market volatility and a deepening economic crisis, the job of forecasters has never been more difficult or more important. “There are a lot of people trying to figure out the risks and opportunities we’re facing,” says Burnett, director of weather and market analysis for the Canadian Wheat Board. “Everyone is looking for some insight into what lies ahead and how they can manage in the meantime.”
Grainworld 2009 will bring together experts from Canada’s grain, oilseeds and livestock industry to examine future trends and outlooks for all major agricultural sectors. It will also focus on how to make the most of upcoming opportunities. In addition to the economic crisis, panels will examine the high cost of farm inputs and provide an in-depth look at the Canadian economy.
