Glacier FarmMedia — The following is a glance at the news moving markets in Canada and globally.
- At its annual Agricultural Outlook Forum, the United States Department of Agriculture estimated corn planting in 2026 at 94 million acres and soybeans at 85 million acres. If realized, U.S. corn area would be down by 4.8 million acres on the year and soybeans up by 3.8 million. The estimates were largely in line with expectations.
- Canada’s merchandise trade deficit with the rest of the world narrowed to C$1.3 billion in December from C$2.6 billion the previous month, reported Statistics Canada. Exports were up 2.6 per cent during the month while imports were 0.6 per cent higher.
- The International Grains Council expects global wheat and corn supplies could tighten in 2026/27, citing reduced harvested area. Detailed supply/demand data for the new crop year will likely be released in March, with the IGC leaving its balance sheets for 2025/26 largely unchanged in its February estimates.
- Former South Korean President Yoon Suk Yeol was found guilty of leading an insurrection and sentenced to life in prison on Thursday. Yoon, 65, briefly imposed martial law in December 2024 and sent troops to surround the National Assembly before lawmakers voted to lift the measure and impeach the former president.
