By Glen Hallick
Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- Statistics Canada reported on Thursday that the value of the country’s farm sector equity by the end of 2024, increased 4.9 per cent at C$832.5 billion. StatCan said total liabilities increased 14.4 per cent while total assets were up 6.3 per cent. There were gains in farm equity in all provinces with Saskatchewan leading the way at 9.8 per cent growth.
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- StatCan also reported on Thursday that the country’s unemployment rate rose to 6.9 per cent April from 6.2 per cent the previous April. The federal agency said the number of employment insurance recipients grew by 17,000 in April, bringing the total to 520,000.
- As Israel and Iran pressed their attacks on each other for a seventh day, on Thursday, an Iranian missile struck a hospital in Beersheba. Reports said there were no serious injuries as that part of the hospital had been evacuated. Meanwhile, Israel hit a heavy water reactor in Iran.
- The United States Department of Agriculture has postponed its weekly export sales report to Friday due to the Juneteenth holiday. Ahead of the report, trade expectations place soybeans at zero to 400,000 tonnes of old crop and zero to 200,000 tonnes of new crop. Soymeal was pegged at 150,000 to 450,000 tonnes and soyoil at zero 32,000 tonnes. U.S. corn is expected to come in at 600,000 to 1.2 million tonnes of old crop and zero to 200,000 of new crop.
- Japan-based Nippon Steel became the sole owner of U.S. Steel on Wednesday in a US$14.1 billion deal. However, reports said the U.S. government retains a say in key decision-making and the U.S. president can veto moves to idle plants, cut production or staffing levels.
