By Glen Hallick
Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- The foreign ministers for France, Germany and the United Kingdom are scheduled to meet with their Iranian counterpart in Geneva on Friday. The meeting comes after United States President Donald Trump said he will take two weeks to decide whether or not the U.S. will join Israel in bombing Iran. The European ministers hope to convince their Iranian counterpart begin talks with Israel on resolving the war.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
- The U.S. Department of Agriculture issued its export sales report for the week ended June 12. Wheat export sales came to 427,200 tonnes, while those for corn included 903,800 tonnes of old crop and 155,000 tonnes of new crop. Soybean export sales were 539,500 tonnes of old crop and 75,200 tonnes of new crop. Those for soymeal were 160,300 tonnes for 2024/25 and 14,000 for 2025/26. Soyoil incurred a net reduction of 1,500 tonnes.
- The Argentine soybean harvest was 96.5 per cent complete, the Buenos Aires Grain Exchange said on Friday. The exchange said it expects production to hit 50.3 million tonnes. The country’s corn harvest was slightly below the hallway point, with the exchange forecasting production at 49 million tonnes.
- China reported its soybean imports hit a May record of 13.92 million tonnes, a huge turnaround from the 10-year low in April of 6.08 million tonnes. Of May’s imports, 12.11 million tonnes came from Brazil, a jump of 37.5 per cent from a year ago. China’s purchases of U.S. soybeans were 1.63 million tonnes, up nearly 12 per cent from the previous May.
- Statistics Canada reported April retail sales rose 0.3 per cent at C$70.1 billion. About 36 per cent of the respondents said tariffs between Canada and the U.S. affected their businesses. StatCan also reported the industrial product price index dropped 0.5 per cent month over month in May and the raw materials price index fell 0.4 per cent.
