Glacier FarmMedia — The following is a glance at the news moving markets in Canada and globally.
• World leaders will be meeting in New York this week for the annual United Nations General Assembly. Canada has officially recognized the state of Palestine at the UN, Prime Minister Mark Carney’s office announced on Sunday, with the ongoing war in Gaza expected to be a major topic of the assembly.
• Hurricane Gabrielle strengthened to a Category 3 storm in the Atlantic Ocean, with the storm’s path taking it east of Bermuda.
• The price of products manufactured in Canada increased in August, with the Industrial Product Price Index up 0.5 per cent compared to the previous month and 4.0 per cent higher on the year, reported Statistics Canada. The country’s Raw Materials Price Index was down 0.6 per cent on the month, but still 3.2 per cent higher annually.
• Favourable Midwestern weather and a lack of concrete action after a call between United States President Donald Trump and Chinese President Xi Jinping on Friday weighed on soybean and corn futures to start the week.
