Glacier FarmMedia – The following is a glance at the news moving markets in Canada and globally.
– Canadian Prime Minister Mark Carney will visit China starting Tuesday, becoming the first Canadian PM to travel to China in nearly a decade. Carney will look to improve ties with China and discussions will include trade and agriculture. Currently, China has a 100 per cent tariff on Canadian canola oil and meal, plus a 75.8 per cent tariff on canola seed, in retaliation to Canada’s tariffs on Chinese electric vehicles. Over the weekend, China and the European Union agreed to resolve their dispute over Chinese EVs. Carney will then visit Qatar before attending the World Economic Forum’s annual meeting in Switzerland next week.
Read Also
ICE canola rising Friday, but hitting resistance
Glacier FarmMedia — ICE Futures canola contracts were mostly stronger but off their session highs at midday Friday. The March…
– Iran continues to be under an internet blackout on Monday as five days of anti-government protests have led to nearly 500 deaths and more than 10,000 arrests. United States President Donald Trump said he was in contact with opposition leaders while considering options, including military intervention. Communications between the U.S. and Iran are open through intermediary Switzerland. Iranian Foreign Minister Abbas Araqchi said on Monday that his country was “ready for war, but also for dialogue.”
– U.S. Federal Reserve chair Jerome Powell said Sunday night that he was threatened with an indictment by the Department of Justice over testimony Powell gave last summer to Congress regarding a building project. Powell added that the department’s actions were a “pretext” towards more government influence over the central bank. Trump said on Sunday he knew nothing about the threat, but added that Powell is “not very good at the Fed.”
– The U.S. Department of Agriculture will release its monthly supply/demand estimates, as well as its quarterly stocks and winter wheat seeding reports later today. Corn and wheat ending stocks are expected to decline, while analysts expect soybean stocks to increase.
