By Glen Hallick
Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- United States President Donald Trump posted letters on Truth Social on Monday, warning 14 countries to make trade deals with the U.S. Trump also extended the deadline for countries for the deals from July 9 to Aug. 1. A country not reaching an agreement by then could face tariffs of 25 to 40 per cent. Canada didn’t receive such a letter with its deadline for a new trade deal with the U.S. remaining at July 21.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
- Soybean condition ratings held at 66 per cent good to excellent with winter wheat at 48 per cent in the latest weekly U.S. Department of Agriculture crop report issued on Monday. The winter wheat harvest progressed to 53 per cent complete. Meanwhile, corn dipped one point at 74 per cent good to excellent and spring wheat lost three points at 50 per cent.
- Argentina wrapped up its soybean harvest with the Buenos Aires Grain Exchange pegging it at 50.3 million tonnes, up slightly from the previous year. The exchange estimated the country’s corn harvest at nearly 62 per cent finished and wheat planting at about 78 per cent done.
- Early and heavy monsoon rains could lead to a record grain harvest in India with the sooner-than-expected planting of rice, oilseeds and pulses, said the country’s agriculture minister. The rains in June were nine per cent above normal and higher than normal precipitation is forecast for July. The monsoons provide more than half of India’s annual rainfall.
- Statistics Canada reported on Tuesday that April retail sales reached C$70.7 billion, up 5.7 per cent compared to the previous April. With increases in 13 of the 18 commodity classes, the largest gain came with motor vehicle sales at 14.8 per cent. The most significant decline was in automotive and household fuels with a drop of 8.9 per cent.
