Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
– Canadian Prime Minister Mark Carney will brief Canada’s premiers on Tuesday about the federal government’s ongoing trade negotiations with the United States. The premiers are taking part in a three-day summit in Huntsville, Ont. to discuss trade and other topics. Carney met in Ottawa on Monday with four U.S. Senators, all members of the Senate Committee on Finance, to find solutions before U.S. President Donald Trump imposes tariffs on Canadian goods starting Aug. 1. Carney described the 45-minute meeting as “good” while one senator said the PM was open to a “quota agreement” for some Canadian goods entering the U.S.
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– U.S. Treasury Secretary Scott Bessent said this morning he will meet with his Chinese counterpart next week to discuss an extension of the Aug. 12 deadline before the U.S. levies tariffs on Chinese goods. While Bessent said negotiations were “constructive”, he will warn China about buying sanctioned Russian and Iranian oil as well as their efforts to support Russia in its invasion of Ukraine. Bessent also said there was bipartisan support to imposing tariffs on all goods coming from countries which buy Russian oil.
– Brazilian firm Safras and Mercado released its first estimate for the country’s 2025-26 soybean crop on Monday, estimating production at a record 179.87 million tonnes, due to larger-than-expected crops in Mato Grosso and Mato Grosso do Sul. Exports were projected to be 104 million tonnes while crushing would be at 57 million.
– Three low-pressure fronts will bring rain and precipitation to Australia’s southern states as well as Queensland this week, relieving drought conditions in growing areas. At least 20 millimetres will fall across the country’s agricultural areas while the city of Adelaide will see between 50 to 80 mm. On Sunday, up to 35 mm fell on the Western Australian coast and up to 22 mm were seen in the state’s wheat belt.
