Glacier FarmMedia — The following is a glance at the news moving markets in Canada and globally.
- A ceasefire agreement between Iran and Israel, announced by United States President Donald Trump overnight, was quickly breached with both sides allegedly launching attacks after the agreement was to have come into effect. Iran rejected allegations that it violated the ceasefire, claiming its attacks were conducted before it went into effect. Meanwhile, Israel acknowledged that it had destroyed a radar installation near Tehran in what it called “retaliation” when the ceasefire was in effect. Iran and Israel have so far refrained from additional attacks, with the ceasefire holding tentatively.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
- U.S. wheat condition ratings dipped in the latest weekly crop report from the U.S. Department of Agriculture. Winter wheat and spring wheat both lost three points in the good to excellent category, now coming in at 49 per cent and 54 per cent respectively. The winter wheat harvest was 19 per cent complete, which was slightly off expectations but up nine points on the week.
- The U.S. corn crop was rated 70 per cent good to excellent in the latest weekly report. That was down two points on the week, but still the best rating for this time of year in five years. Soybean conditions held steady at 66 per cent good to excellent.
- Canada’s annual rate of inflation held at 1.7 per cent in May, as fuel costs declined and prices for food, shelter and travel grew and a slower pace than the previous month.
