By Glen Hallick
Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- Canadian Prime Minister Mark Carney spoke with Chinese Premier Li Qiang on Friday and among the topics they discussed was trade. Among the tariffs the two countries have on each other include China’s has 100 per cent levies on imports of Canadian canola oil and meal, as well as peas, while Canada has 100 per cent surcharges on Chinese electric vehicles. China said it’s willing to work with Canada to resolve trade issues.
Read Also
Global Markets: Carney ‘will not accept a bad deal’
Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally. –…
- Carney has also been speaking with U.S. President Donald Trump, reports said on Thursday. While the specifics of the conservations by phone and text were not made public, reports said the two leaders discussed reducing tariffs, as well as new economic and security deals. Carney’s discussions with Trump and Li come ahead of the G7 summit in Kananaskis from June 15 to 17.
- Unemployment in Canada edged up to seven per cent in May, Statistics Canada reported on Friday. That marked a nine-year high outside of the COVID-19 pandemic. StatCan said employment growth was virtually unchanged last month while the country’s population increased. The federal agency also noted the effects of United States tariffs were starting to have a negative effect on Canadian employment levels.
- The Rosario Grain Exchange said on Thursday that Argentina’s soybean harvest was almost 89 per cent complete, with yields better than expected. However, progress has been slowed by wet conditions, the corn harvest (44 per cent finished) and wheat planting (24 per cent done). The exchange pegged the soybean harvest at 50 million tonnes and that for corn at 49 million.
- France reported on Friday that its soft wheat rated 69 per cent good to excellent as of June 2, down one point from the previous week. The country’s barley also dipped a single point at 73 per cent good to excellent, while its corn crop held at 85 per cent, with 99 per cent of it planted.
