By Glen Hallick
Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- China’s Ministry of Commerce announced on Friday that it’s extending its investigation into alleged canola dumping by Canada to March 2026. The move allows for an additional six months of negotiations between Ottawa and Beijing, with a Canadian trade delegation traveling to China this weekend. Last month, China slapped a 75.8 per cent tariff on imports of Canadian canola seed. It’s widely believed China’s investigation and its levy were retaliation for Canada imposing a 100 per cent duty on imports of Chinese-made electric vehicles.
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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 Friday that unemployment in Canada bumped up to 7.1 per cent in August from 6.9 per cent in July. StatCan said 66,000 jobs were lost last month, 60,000 of them part-time positions. Analysts’ predictions called for a gain of 10,000 jobs. The report will be a factor in the Bank of Canada’s interest rate announcement on Sept. 17.
- The Bureau of Labor Statistics reported on Friday that unemployment in the United States nudged up to 4.3 per cent in August from 4.2 per cent in July. Ahead of the report, economists projected an increase of more than 76,000 jobs. Instead, only 22,000 were added. This was the first unemployment report since President Donald Trump fired BLS Commissioner Erika McEntarfer, alleging the numbers were skewed to make him look bad.
- China was largely absent in the weekly export sales report from the U.S. Department of Agriculture on Friday. For the week ended Aug. 28, current crop wheat export sales came to 313,000 tonnes, while new crop corn sales were nearly 2.12 million tonnes. Export sales of new crop soybeans tallied 818,500 tonnes, with those for soymeal at 145,700 tonnes and 1,800 for soyoil.
