TORONTO and CHICAGO, AUGUST 7, 2012 - Record heat and lack of rain have been unforgiving in the U.S. Midwest this summer, leading to the worst drought the U.S. has seen in 56 years. Reports estimate that as of July 31, nearly two-thirds of the continental U.S. was experiencing some level of drought. Crop prices are soaring, with the prices for soybeans and corn reaching all-time highs. In Canada, volatile weather, including late frost followed by high temperatures, has caused problems for farmers, mainly in Ontario. Up to 90 per cent of the province's apple crops were wiped out by the frost in April.
BMO experts will be hosting a conference call on Wednesday, August 8, 2012, to discuss the impact on the U.S. and Canadian agriculture industry, and the ripple effect on consumers.
Some of the topics that will be discussed include:
- What is the outlook for crop prices for the rest of the summer?
- How are consumers feeling the heat?
- How has Canada been impacted by the situation south of the border?
- What does this mean for investors in the agriculture sector?
WHAT: | Media conference call to provide commentary on impact of drought for farmers, consumers and agriculture investors. |
WHO: | Don Coxe, Strategy Advisor, BMO Financial Group, and Advisor, Coxe Global Agribusiness Income Fund |
David Rinneard, National Manager, Agriculture, BMO Bank of Montreal | |
Sam Miller, Managing Director and Group Head, Agriculture, BMO Harris Bank | |
WHEN: | Wednesday, August 8, 2012 |
10 a.m. EDT | |
WHERE: | Media dial in: 416-641-2144 |
Toll free: 866-696-5910 | |
Passcode: 8558629 |
About BMO Capital Markets
BMO Capital Markets is a leading, full-service North American financial services provider, with 2,300 employees operating in 29 offices worldwide, including 16 in North America and offering corporate, institutional and government clients access to a complete range of investment and corporate banking products and services. BMO Capital Markets is a member of BMO Financial Group, one of the largest diversified financial services providers in North America with total assets of $525 billion and more than 46,000 employees as at April 30, 2012.
For more information on BMO Capital Markets, please visit http://www.bmocm.com
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For news media inquiries please contact:
Alexis Brown, Toronto, alexis.brown@bmo.com, (416) 867-3996
Patrick O'Herlihy, Chicago, patrick.o'herlihy@bmo.com, (312) 461-6970
/PRNewswire/ -- Aug. 7, 2012/
SOURCE BMO
