Glacier FarmMedia — The following is a glance at the news moving markets in Canada and globally.
- Tsunami warnings triggered by a Russian earthquake were being downgraded Wednesday morning. The 8.8 magnitude quake in the Pacific Ocean near eastern Russia’s Kamchatka region sent tsunami waves towards Russia, Japan, Hawaii, and the West Coast of North America. In British Columbia, coastal residents remained under a tsunami advisory, with people urged to avoid shorelines and beaches.
- The United States will impose a 25 per cent tariff on all goods from India, with an additional import tax penalty because of India’s purchases of oil and military equipment from Russia.
- In other trade news, a deadline for the U.S. to reach a deal with China was pushed back for 90 days after a meeting between the countries in Sweden.
- Midwestern weather conditions remain relatively favourable for crop development on Wednesday, keeping soybeans and corn futures in Chicago under pressure. Wheat was also lower, although news Bangladesh had purchased 700,000 tonnes of U.S. wheat lent some support.
