By Glen Hallick
Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- Reuters reported on Thursday that China blocked Canada’s request for a dispute panel to review additional import duties by China on agricultural and seafood products at the World Trade Organization. During a special meeting of the Dispute Settlement Body, Chinese officials said Canada can raise the matter again at the next meeting on June 23. Since March, China has imposed 100 per cent levies on Canadian canola oil and meal as well as peas, plus 25 per cent duties on seafood and pork.
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Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally. – Canadian…
- Canada’s overall trade deficit increased to C$7.5 billion in April, Statistics Canada reported on Thursday. That was comprised of a record merchandise trade deficit of C$7.1 billion that month, while that for services narrowed to C$400 million. StatCan said there was a 15.7 per cent drop in trade with the United States, for the third consecutive monthly decline.
- S. President Donald Trump and Chinese President Xi Jinping spoke to each other on the phone on Thursday, discussing trade matters. It was their first conversation since Jan. 17. Trump’s sharp hikes in tariffs on U.S. imports from China, and the latter’s retaliation strained already bad relations between the two countries.
- The U.S. Department of Agriculture issued its export sales report for the week ended May 29, which included net reductions of 49,100 tonnes of old crop wheat, but net sales of 444,900 tonnes of new crop. Corn sales were 942,300 tonnes of old crop and 160,100 tonnes of new crop. Soybeans came to 194,300 tonnes of old crop and 3,500 of new crop.
- Strategie Grains reduced its call on European Union rapeseed production in 2025/26 from 19 million tonnes to 18.6 million due to dry weather in some regions. Also, the consultancy trimmed 100,000 tonnes each on its outlooks for sunflowers now at 10.4 million, and soybeans at three million tonnes.
