By Glen Hallick
Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- A three-judge panel of the United States Court of International Trade ruled on late Wednesday afternoon that President Donald Trump does not have the authority to impose the bulk of his tariffs. The Trump administration quickly filed an appeal. The ruling only pertains to 25 per cent levies imposed on Canada and Mexico along with those for 30 per cent on China, plus the 10 per cent blanket tariff on other countries.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
- Statistics Canada reported on Thursday the country’s trade balance narrowed during the first quarter of 2025. StatCan said the import of goods increased 5.3 per cent at C$212.5 billion and the import of services dipped 0.2 per cent at C$54.9 billion. On the export side, goods also rose 5.3 per cent at C$212 billion for a quarterly record and services slipped 0.3 per cent at C$54 billion.
- Conab raised its estimate on Brazil’s 2024/25 total corn harvest by two million tonnes on Wednesday, bringing it to 129 million. Conab cited record yields for the safrinha corn crop in seven states that accounted for nearly 96 per cent of the increase. Brazil’s first corn harvest is expected to reach 24.7 million tonnes, the safrinha is projected to be 99.8 million and the balance in the third harvest.
- Brazil, the world’s largest export of beef, was declared on Thursday to be free of foot and mouth disease without vaccination. The move was quickly recognized by the World Organization for Animal Health. In May 2024, the Brazilian government said it was ending the vaccination cycle against the disease, with the goal to free of it initially set for 2026.
