Global Markets: Trump shifts stance on crop insurance

By Commodity News Service Canada
WINNIPEG, Jan. 9, 2018 (CNS) – The following is a glance at the
news moving markets in Canada and globally.
United States President Donald Trump told farmers in
Tennessee at the American Farm Bureau’s annual convention on
Monday he supports crop insurance, signaling a possible shift
from his proposals last year to shrink a program that many
farmers rely on for funding their operations. Last May Trump
angered farm groups by cutting US$46.54 billion in federal
agricultural funding, mostly by capping the amount the

government chips in toward crop insurance.
The Chief Executive Officer of the Royal Bank of Canada,
Dave McKay, said Tuesday at a Canadian Bank CEO conference in
Toronto he believes the chances of the North American Free Trade
Agreement being scrapped are increasing.
Canadian housing starts fell in December, as expected, as a
sharp decline in multiple unit urban starts offset a rise in
single-detached starts, according to data from the Canadian
Mortgage and Housing Corporation. Multiple urban starts,
typically condos, fell by 22 per cent in December, while single-
detached urban starts rose by 4.7 per cent.

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