Glacier FarmMedia – The following is a glance at the news moving markets in Canada and globally.
– Up to 400,000 tonnes of canola meal are sitting in warehouses next to Chinese ports with importers struggling to re-sell them, sources told Reuters. An executive with one of the trading companies that imports canola meal said it is looking to sell their cargoes to southeast Asia or South Korea at a discount. The value of the canola meal is up to US$120 million, but traders said they are selling it for 30 per cent below value.
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Glacier FarmMedia – The following is a glance at the news moving markets in Canada and globally. – Saskatchewan Premier…
– Russia and Ukraine exchange 84 prisoners on Thursday, the day before Russian President Vladimir Putin and United States President Donald Trump meet in Alaska to discuss an end to Russia’s invasion of Ukraine. The prisoner swap was just one of many to occur this year and they were the only result during negotiations between Russia and Ukraine in Istanbul between May and July. Ukrainian President Volodymyr Zelenskyy was not invited to take part in the talks in Alaska.
– The U.S. National Corn Growers Association called on Congress and the Trump administration to pass the National Consumer and Fuel Retailer Choice Act, which would allow E15 ethanol-blended gasoline to be sold permanently nationwide. Corn growers, who are facing low prices due to projected high yields and a large crop, said passing the bill would add two billion bushels of demand. Some growers said local elevator prices will drop below US$3 per bushel at harvest.
– John Deere reported a lower third-quarter profit and tightened its annual profit forecast on Thursday. The company’s Q3 net income was reported at US$1.29 billion, down from US$1.73 billion last year. It also cut the higher end of its annual profit forecast by US$250 million at US$5.25 billion. An analyst said tariff uncertainty and lower commodity prices were to blame for the decline.
