By Glen Hallick
Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- At least two people are dead in Oklahoma following heavy rains that caused severe flooding during the Easter weekend. In addition to Oklahoma, the United States National Weather Service also issued tornado watches for Arkansas, Kansas, Louisiana and Missouri. Besides the heavy rains leading to planting delays across the Corn Belt, a report said on Monday that frost is posing a serious threat to the region’s crops, particularly in the upper portions.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
- Port fees to be imposed on ships built in China won’t be in place until October, according to the United States Trade Representative on Monday. Despite comments from President Donald Trump about the fees, current plans are to levy the vessels at US$50 per net ton of cargo, far less than expected. Reports said the Trump administration faced widespread backlash with concerns the fees would add more chaos to global trade that’s already been greatly disrupted over the last several weeks. Trump claimed the fees will lead to the revitalization of the U.S. ship building industry.
- Agriculture and Agri-Food Canada issued its monthly supply and demand report on Thursday with a number of small revisions, but not for any of its canola data. AAFC kept its call on 2024/25 canola exports at 7.50 million tonnes, despite the Canadian Grain Commission reporting that day canola exports already reached 7.38 million tonnes with 16 weeks left in the marketing year. Ideas in the trade have arisen that Statistics Canada has underestimated the size of canola harvest by approximately one million tonnes.
- The U.S. Dollar Index dropped to levels not seen since March 2022. The greenback fell further on Monday morning, remaining below 98 points. The index compares the U.S. dollar to six other major currencies, including the Canadian dollar, using a point system. Since the Trump administration introduced its reciprocal tariffs and initiated a trade war with China, there has been a selloff of U.S. bonds as the markets moves to buying gold.
