Changes are afoot as early as next week for growers from all across Canada -- and from the United States -- who deliver grain to licensed Canadian buyers, as revised trade rules take effect between the two countries. With the Canada-United States-Mexico Agreement (CUSMA), the successor trade deal to NAFTA, taking effect, new regulations addressing[...]
NFU sees red flags in CUSMA bill for grain growers
The National Farmers Union is warning of sweeping changes to Canadian grain regulation it sees tucked into federal legislation meant to put through the successor deal to NAFTA. Bill C-4, the implementing legislation for the Canada-U.S.-Mexico Agreement (CUSMA), passed second reading Feb. 6 and came back without amendment Feb. 27 from the Commons standing committee[...]
CBOT weekly outlook: 2019 ends on high note
MarketsFarm -- Despite a number of tough challenges in 2019, one broker at the Chicago Board of Trade said the year ended on a high note. "For what we went through with China this whole year, this trade war, you had corn, wheat and soybeans close higher for the year on Dec. 31," said Scott[...]
CBOT weekly outlook: Impeachment process stifles markets
MarketsFarm -- U.S. President Donald Trump's impeachment hearings have dominated headlines and stalled progress in numerous trade developments, leaving the Chicago Board of Trade (CBOT) starved of meaningful news. The Canada-U.S.-Mexico Agreement (CUSMA) has yet to be ratified by the U.S. House of Representatives. The trade pact, meant to replace the North American Free Trade[...]
USMCA ratification bill amends Canada Grain Act
U.S. complaints that Canada discriminates against its wheat will be addressed, if Canadian legislation to ratify the updated North American Free Trade Agreement becomes law. Bill C-100, the implementing legislation for the United States-Mexico-Canada Agreement (USMCA), received first and second reading in the House of Commons May 29 and last Tuesday (June 11) respectively. It[...]
U.S. to levy tariff on imported Mexican tomatoes in trade spat
Washington | Reuters -- The U.S. Commerce Department said on Tuesday it will begin imposing a 17.5 per cent tariff on imported Mexican tomatoes, but said it is optimistic that a deal can be reached to extend a 2013 agreement that suspended a U.S. anti-dumping investigation. "The Department of Commerce remains committed to ensuring that[...]
Trade certainty doesn't translate to higher loonie
CNS Canada -- Even with more certainty around trade with the U.S., Canadians shouldn't expect to see the dollar flying in value. "It's hard for me to see the Canadian dollar gain value against the U.S. dollar in the short term, unless the Bank of Canada totally revises its stance towards interest rates," said J.P.[...]
U.S. grains: Corn, soy surge as NAFTA revamp outweighs big supplies
Chicago | Reuters -- U.S. corn and soybean futures rallied on Monday, reversing the prior session's steep losses, after the U.S., Canada and Mexico announced they had reached a deal on a trilateral pact to replace NAFTA. Corn gained nearly three per cent and soybeans more than one per cent as news of the trade[...]
U.S. grains: Wheat extends losing streak
Chicago | Reuters -- Chicago Board of Trade wheat futures fell for the third day in a row to their lowest in more than seven weeks on Thursday on expectations that U.S. supplies will continue to struggle to gain traction on the global export market, traders said. Corn futures ended firm, supported by bargain buying[...]
CBOT weekly outlook: Heavy rains threaten soybean quality
CNS Canada -- Heavy rains across the U.S. Midwest and a murky outlook on international trade appear ready to drive down the soybean market in the lead-up to next week's supply and demand report. The U.S. Department of Agriculture will release its monthly estimates on Sept. 12 and traders have already started to take positions.[...]
A message from April Stewart, Country Guide's Associate Editor
