Glacier FarmMedia | MarketsFarm — The following is a glance at the news moving markets in Canada and globally.
- India’s government is forecasting above average monsoon rains for the second year in a row, which would be good news for farmers in the country who rely on the precipitation from June to September to grow their crops.
- United States wheat futures were lower across the board Tuesday morning, extending yesterday’s losses. Condition ratings for the country’s winter wheat dipped one point in the good-to-excellent category — now at 47 per cent. Spring wheat planting was in line with average, at seven per cent.
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Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally. – Canadian…
- China is reportedly directing airlines in the country to stop placing new orders for Boeing jets, which was seen as an escalation of the trade war and weighed on soybean futures. While the trade tensions also weighed on corn, that market was slightly higher in early trade.
- Malaysian palm oil was weaker Tuesday, as rising production prospects and weakness in outside vegetable oil markets contributed to the declines. Malaysia left its export tax on crude palm oil unchanged at 10 per cent while lowering its reference price on Tuesday.
- Canada’s annual rate of inflation dipped to 2.3 per cent in 2.3 per cent in March from 2.6 per cent the previous month, reported Statistics Canada.
