The following is a glance at the news moving markets in Canada and globally.
– United States President Donald Trump and Congress failed in a last-minute attempt to keep government programs and services running, causing the first U.S. government shutdown in more than six years starting today. A vote to extend government funding by seven weeks on Tuesday failed to receive the 60 votes necessary in the Senate after Democrats said it would vote against it if health care demands weren’t met. Democrats claim Republicans refused to negotiate on expanded Affordable Care Act tax credits. Thousands of government workers are expected to be furloughed or fired.
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Glacier FarmMedia – The following is a glance at the news moving markets in Canada and globally. – Agriculture…
– The U.S. Department of Agriculture released their quarterly grain stocks as of Sept. 1 report on Tuesday. Corn stocks were reported at 1.532 billion bushels, above pre-report estimates but 13 per cent less than last year. Soybean stocks were 316.5 million bushels, down eight per cent from one year ago, while wheat stocks were 2.12 billion bushels, up six per cent from last year.
– In a speech to military generals in Quantico, Va. on Tuesday, Trump remarked that Canada should join the U.S. as the 51st state to become part of the Golden Dome missile defence system for free. He also claimed there was an influx of people and investments from Canada and other countries moving to the U.S. due to tariffs, citing automobile plants as an example. Trump previously said it would cost Canada US$71 billion to become part of the Golden Dome system.
– Canada’s manufacturing sector contracted for the eighth straight month in September. The S&P Global Canada Manufacturing Purchasing Managers’ Index dropped from 48.3 in August to 47.7, with a value below 50 indicating contraction. While output and new orders also declined, the report added that input costs and selling prices were rising.
