Glacier FarmMedia | MarketsFarm — The following is a glance at the news moving markets in Canada and globally.
- India launched missile attacks on Pakistan overnight in retaliation to the massacre of Indian tourists by a militant group in Kashmir last month. The missile strikes in at nine locations heightened tensions in the region and killed more than two dozen people. Pakistan called the strikes an act of war and claimed to have downed several Indian fighter jets.
- Oilseed processor and international grain trader Bunge Global posted its lowest first-quarter profit in five years, due in part to weak crush margins and lower returns from the company’s ocean freight operations. However, concerns over tariffs boosted export demand, and per-share profits at US$1.81 still beat average market estimates of US$1.30 per share. Bunge CEO Greg Hackman expressed confidence the company’s acquisition of Viterra would be approved by Chinese regulators, but said the timing was unknown.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
- Soybean and corn futures in Chicago were posting small gains in early trade amid increasing optimism over trade talks between China and the U.S. Wheat was mixed, with strength in the U.S. dollar putting some pressure on values.
- Malaysian palm oil continued lower on Wednesday, hitting its softest levels in eight months. Poor demand and rising production prospects contributed to the declines.
