By Glen Hallick
Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- There was a cordial meeting between Canadian Prime Minister Mark Carney and United States President Donald Trump at the White House on Tuesday. Although a deal wasn’t reached, the groundwork was laid for future trade agreements pertaining to steel, aluminum and energy. The latter included reviving the Keystone XL pipeline. Also, Canada-U.S. Trade Minister Dominic LeBlanc and Foreign Affairs Minister Anita Anand have remained in Washington for further meetings.
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- After two days of talks, outgoing French Prime Minister Sebastien Lecornu said there’s a “willingness to have budget for France before Dec. 31.” Lecornu resigned on Monday, citing that the political parties in the National Assembly were disinterested in co-operating. However, the Socialist Party indicated it wouldn’t support the proposed budget, but it wouldn’t force parliamentary elections.
- Gold continued to push above US$4,000 per ounce on Wednesday after breaking through that window on Tuesday. Price increases for gold are most often aligned with instability. Reports said that includes weakness in the U.S. dollar, the U.S. government shutdown, geopolitical uncertainty, expectations of further interest rate cuts, solid central bank buying, and inflows into gold exchange-traded funds.
- Statistics Canada issued an update grain stocks as of July 31 report, showing corn for grain and soybeans. Total corn for grain stocks were nearly 1.04 million tonnes compared to almost two million tonnes at the end of July 2024. Those for soybeans slipped to 505,000 tonnes in July from 552,000 a year ago.
