Glacier FarmMedia – The following is a glance at the news moving markets in Canada and globally.
– The United States Department of Agriculture will release on Friday its November World Agricultural Supply and Demand Estimates at 11 a.m. CST. Last month’s release was cancelled due to the U.S. government shutdown, adding to the uncertainty in the upcoming figures. U.S. corn and soybean production are expected to show slight declines compared to the September report, but ending stocks, including those for wheat, are set to show small increases. The USDA will also release its daily export sales report today for the week ended Nov. 13.
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Glacier FarmMedia – The following is a glance at the news moving markets in Canada and globally. – The…
– The U.S. announced on Thursday it has signed new trade deals with Argentina, Guatemala, El Salvador and Ecuador. While reciprocal tariffs of 15 per cent will remain for Ecuador and 10 per cent for the three other countries, products such as coffee and bananas that “cannot be produced in sufficient quantities in the U.S.” will be exempt from the import taxes. The U.S. and Argentina also said they “have committed to improved, reciprocal, bilateral market access conditions for trade in beef.” The agreements will be signed within the next two weeks.
– Statistics Canada reported on Friday that manufacturing sales improved by 3.3 per cent in September to C$72.1 billion, the highest level since February. Sales rose in 14 of 21 subsectors, including transportation equipment at 9.2 per cent and the petroleum and coal subsector at 5.3 per cent. Wholesale sales, which exclude petroleum products, hydrocarbons, grains and oilseeds, were up 0.6 per cent in sales and volume.
