By Glen Hallick
Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- Inflation in Canada climbed to an annualized rate of 2.6 per cent from 1.9 per cent in January, Statistics Canada reported on Tuesday. That exceeded analysts’ predictions of the consumer price index rising to 2.2 per cent. StatCan pointed to the end of the GST/HST tax break for the increase. The February report didn’t reflect the tariffs and counter-tariffs between the United States and Canada as they went into effect in March following a number of deadlines.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
- Canadian Prime Minister Mark Carney warned on Monday “there’s a limit” as to how much the country can respond with tariffs imposed by the U.S. Carney stated Canada’s economy is about one-tenth of that of the U.S. “We are not going to take an action that we think is not ultimately going to influence the United States, and certainly not one that is outright harmful to Canada given the overall approach,” he noted.
- U.S. President Donald Trump and Russian President Vladimir Putin are set to have their teleconference on Tuesday at approximately noon CDT. The two leaders are expected to discuss a 30-day ceasefire plan for Russia’s invasion of Ukraine. Those talks are said to likely include the Zaporizhzhia nuclear power plant which hasn’t supplied electricity to Ukraine since September 2022.
- Agriculture and Agri-Food Canada is scheduled to release its monthly supply and demand report on Thursday. It’s to take in StatCan’s recent planted acre estimates, which included 21.65 million acres of canola, down 1.7 per cent from last year and a 2.6 per cent increase in total wheat acres of 27.48 million. Also, the International Grains Council will issue its monthly report on Thursday.
