Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
– Parts of eastern Alberta and southern Saskatchewan are under heat warnings issued by Environment Canada. Temperatures could reach as high as 32 degrees Celsius without humidity, affecting places including Edmonton, Calgary, Lloydminster and Moose Jaw. Temperatures are expected to cool down on Thursday and Friday. Air quality advisories due to smoke from ongoing wildfires are also in place in northwestern Alberta, central Saskatchewan and western Manitoba.
– The United States Department of Agriculture released its weekly crop ratings on June 30. It reported the corn crop to be 73 per cent good to excellent, up three points from the previous week, with eight per cent of the crop silking, compared to the five-year average of six per cent. Soybean ratings were unchanged at 66 per cent, while 94 per cent of the crop was emerged, 17 per cent blooming and three per cent setting pods, within typical levels at this time of year. Spring wheat and winter wheat ratings declined one point at 53 per cent and 48 per cent, respectively. Emergence for the spring wheat crop was at 96 per cent, while 38 per cent was headed. The harvested amount for winter wheat was 37 per cent, five points below normal.
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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. House of Representatives are expected to vote on President Donald Trump’s tax and spending cuts bill on Wednesday after surviving a 51-50 vote in the Senate on Tuesday, which was decided by the tiebreaking vote of Vice President JD Vance. The bill has some opposition in Republican circles, but those who are hesitant may end up supporting the president due to political pressure. Democrats are against the bill largely due to cuts in Medicaid.
– The U.S. Labor Department reported on Tuesday that job openings rose month-to-month by 400,000 in May at 7.8 million, despite economists expecting a decline of 100,000. Openings were reported at hotels, restaurants and finance companies. While the number of people quitting their jobs rose slightly (a positive sign in job markets) and layoffs fell, hiring also fell in May.
