By Glen Hallick
Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- Iran rejected the 15-point plan for a ceasefire on Wednesday from United States President Donald Trump via Pakistan. Iran countered with its five-point plan that includes it having control over the Strait of Hormuz. Trump recently said the strait could be jointly controlled by the U.S. and Iran. The U.S. continued its troop build-up in the region while Iran and Israel traded overnight strikes.
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Global Markets: Oil tumbles as Trump puts forth 15-point plan
By Glen Hallick Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada…
- Trump and Chinese President Xi Jinping are set to meet May 14-15 in Beijing. Their long-awaited summit was postponed from April shortly after the U.S. and Israel attacked Iran. The two leaders will discuss trade issues as well as the tensions between their respective countries. Later this year, Xi will visit Washington to meet Trump again.
- Global economic growth is likely be curtailed in 2026, the Organization for Economic Co-operation and Development said on Thursday. The OECD pointed to the inflationary pressures from the Middle East war as to why it cut its outlook from 3.3 per cent growth to 2.9 per cent.
- The European Parliament approved legislation on Thursday, supporting a trade deal between the European Union and the U.S. The deal would set mutual tariffs at 15 per cent and there would be more European investment in the U.S. The legislation now requires the approval of the EU’s 27 member states.
- At nearly 669,000 tonnes, export sales of old crop soybeans exceeded market projections for the week ended March 19, the U.S. Department of Agriculture said on Thursday. Soymeal was also above guesses at more than 507,000 tonnes, while soyoil sales were 800 tonnes. Old crop corn were on the high side of trade expectations at about 1.22 million tonnes. Those for wheat were around 397,000 tonnes, about mid-range of pre-report estimates.
