By Glen Hallick
Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- Canadian Prime Minister Mark Carney met with Chinese President Xi Jinping on Friday, as the two discussed a number of trade issues, including agriculture, at the APEC summit in South Korea. Carney said relations between the two countries are at a “turning point” and accepted an invitation for a state visit to China in the future. Previously poor Canada-China relations soured further as each country imposed stiff tariffs on each other.
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By Glen Hallick Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada…
- Canada’s economy contracted by 0.3 per cent in August, Statistics Canada reported on Friday. That’s a reversal of the 0.3 per cent gain in July. StatCan said goods-producing industries shrank by 0.6 per cent in August while service-producing industries declined 0.1 per cent. StatCan’s preliminary forecast for September is for a bump up of 0.1 per cent.
- Canadian National Railway reported on Friday a third quarter profit of C$1.14 billion, up from C$1.09 billion in Q3 of 2024. The latest profit came on revenue of C$4.17 billion compared to C$4.11 billion this time last year. On Thursday, Canadian Pacific Kansas City Ltd. said its Q3 profit increased by 10 per cent at C$917 million, as revenues rose three per cent at C$3.66 billion.
- The Indian government announced this week that it will end its tariff-free period for imports of yellow peas. The move comes as Indian farmers pressured the government to increase low commodity prices. The levies will take effect Nov. 1, rather than the previously scheduled March 31, 2026. India has been one of Canada’s yellow pea buyers.
- The centrist D66 Party won the most votes in the Netherlands election in fending off a challenge by the far-right Freedom Party, news agency ANP said on Friday. Led by Rob Jetten, D66 now has to cobble together a coalition government. Several of the country’s other political parties have made it clear they won’t join a coalition if it includes the Freedom Party and its leader, Geert Wilders.
