By Glen Hallick
Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- The trade war between the United States and China continued to heat up on Tuesday, as the latter responded to President Donald Trump’s threat to sharply increase in levies on its imports. After the White House clarified that the president wasn’t going to pause his array of global tariffs for 90 days, Trump threatened China with an additional 50 per cent duty on top of the tariffs already in place, should Beijing not cancel its 34 per cent retaliatory tariffs announced last week. China said Trump’s latest actions amounted to “bullying.”
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- The U.S. Department of Agriculture issued its first crop progress report of 2025, showing corn planted at two per cent complete, spring wheat planted was at three per cent finished, and winter wheat headed reached five per cent with them matching their five-year averages. The winter wheat rated 48 per cent good to excellent, down from 56 per cent this time last year.
- Soybean and Corn Advisor’s Michael Cordonnier held his estimates of Brazil and Argentina soybean production at 169 million and 48 million tonnes, respectively. Also, he left his calls on Brazil corn output at 122 million tonnes and Argentina corn at 46 million. Meanwhile, ahead of the USDA’s supply and demand report on Thursday, the average trade guesses for South American soybeans are 48.79 million tonnes for Argentina and 169.11 million for Brazil. For corn, the trade pegged Argentina at 49.30 million tonnes and Brazil at 125.91 million.
- Reuters reported on Tuesday that Canadian farmers are concerned that Trump’s tariffs could impact the cost of agricultural machinery. With that, sales of new tractors, combines and other farm equipment have slumped. As well manufacturers started to reduce production, including Case IH laying off hundreds of workers.
