Glacier FarmMedia | MarketsFarm — The following is a glance at the news moving markets in Canada and globally.
- Global energy markets were on the rise Tuesday morning, underpinned by idea that tariffs on Venezuelan crude recently announced by the United States may lead to tighter world supplies, despite plans for OPEC to raise its output.
- Malaysian palm oil futures were lower in overnight activity, losing more of their premium to soyoil as demand backs away.
- Analysts Sovecon cut their estimate for Russia’s 2024/25 wheat exports to 40.7 million tonnes on Tuesday, from an earlier forecast of 42.2 million. However, they upped their call on new crop movement by 200,000 tonnes, to 39.1 million. Wheat futures in the United States were trending lower in overnight trade, as crop conditions in Kansas and Texas showed some improvement in the latest weekly report.
- India is reportedly considering cutting tariffs on 55 per cent of goods it imports from the U.S., worth US$23 billion, to fend off reciprocal tariffs. The two nations are undergoing their own bilateral trade negotiations ahead of the April 2 target date for the implementation of worldwide U.S. tariffs.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
