By Glen Hallick
Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- A comprehensive strategic partnership between Canada and Mexico was reached on Thursday. Canadian Prime Minister Mark Carney joined Mexican President Claudia Sheinbaum in Mexico City to sign the agreement. The deal includes measures on infrastructure, rail and energy corridors, crime and the environment. As well, Minister of Agriculture and Agri-Food Heath MacDonald will be in Mexico next month for further discussions on ag-related trade.
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By Glen Hallick Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada…
- United States President Donald Trump and Chinese President Xi Jinping reportedly spoke on Friday to finalize a deal that would see TikTok’s U.S. assets transferred to U.S. owners. The agreement would end years of political maneuvering over concerns TikTok’s parent company, ByteDance, being close to Chinese intelligence agencies. Also, the deal is said to pave the way for further China/U.S. trade agreements.
- China has purchased up to 540,000 tonnes of canola from Australia, Reuters reported on Friday. This comes after the two countries resolved their trade differences and with China imposing stiff tariffs on Canadian canola seed, oil and meal.
- Retail sales in Canada dropped 0.8 per cent to C$69.6 billion during July, Statistics Canada reported on Friday. There were declines in eight of the nine subsectors, including core retail sales, which excludes gasoline stations, fuel vendors, motor vehicle dealers and parts dealers, pulled back 1.2 per cent in July.
- Conab, Brazil’s equivalent of the U.S. Department of Agriculture, said on Thursday the country’s 2024/25 soybean harvest reached 171.47 million tonnes and the next crop was projected at 177.67 million. Conab said the country’s total corn harvest was 139.70 million tonnes and forecast 2025/26 production to dip to 138.28 million.
