By Glen Hallick
Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- As trade talks between Canada and the United States press on to their extended deadline of Aug. 1, Prime Minister Mark Carney warned a deal would likely include some tariffs. Carney pointed to other countries that have recently made trade agreements with the U.S. that retained some levies. Last week, President Donald Trump threatened to slap on a 35 per cent tariff on numerous U.S. imports from Canada and pushed back the deadline from July 21.
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Global Markets: Inflation nudges up in Canada, the U.S.
By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
- The U.S. producer price index remained unchanged in June from May, the Bureau of Labor Statistics reported on Wednesday. The bureau also said the PPI, which measures wholesale-level inflation, was up 2.3 per cent from a year ago. Ahead of the report, analysts predicted a 0.2-point increase from May and the annualized rate climbing to 2.5 per cent. The PPI is a major consideration for the U.S. Federal Reserve when determining its key interest rate moves.
- World meat production is expected to increase 13 per cent over the next 10 years, said a joint report on Wednesday from the Organization for Economic Co-operation and Development along with the United Nations’ Food and Agricultural Organization. The report also said global poultry production is to jump 21 per cent, sheep meat is to climb 16 per cent, beef to increase 13 per cent and pork to rise five per cent.
- The U.S. National Oilseed Processors Association said on Tuesday, that the June crush among its members came to 5.05 million tonnes of soybeans. That was slightly above the average trade guess and nearly six per cent more than a year ago. Soyoil stocks were about 619,600 tonnes for the smallest June amount since 2004.
