Glacier FarmMedia — The following is a glance at the news moving markets in Canada and globally.
- Prime Minister Mark Carney’s Liberal government released their first budget on Tuesday. It included about C$1 trillion in investment and posts a deficit over C$78 billion. The “Canada Strong” budget was touted as a “plan to transform our economy from one that is reliant on a single trade partner, to one that is stronger, more self-sufficient, and more resilient to global shocks” in a federal news release.
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- State and mayoral elections held across the United States on Tuesday saw the Democratic Party dominate in what was largely seen as a referendum on President Donald Trump. Democrat governors were elected in Virgina and New Jersey, while results of ballot measures across the country also favoured Democrats. Zohran Mamdani, a self-described democratic socialist, won the New York City mayoral race over Trump-endorsed independent Andrew Cuomo.
- Bunge Global released quarterly earnings data on Wednesday, showing the agribusiness topped estimates as the acquisition of Viterra boosted oilseed processing volumes. Speaking to investors, Bunge CEO Greg Heckman said the company expected increased rapeseed exports out of Australia, due to the ongoing trade dispute between Canada and China.
