Glacier FarmMedia – The following is a glance at the news moving markets in Canada and globally.
– After Ukraine celebrated its Independence Day on Sunday, Russia accused the country of drone attacks at a nuclear power plant overnight in the western Kursk region. Russian officials said several power and energy facilities were targeted in the attacks. A port in Ust-Luga, located in Russia’s Leningrad Oblast near a major fuel export terminal, was also attacked. On Sunday, Canadian Prime Minister Mark Carney joined Ukrainian President Volodymyr Zelenskyy for Independence Day celebrations in Kyiv, promising an additional C$2 billion in new military assistance for Ukraine and said Canada is considering sending troops to Ukraine as part of a re-assurance force.
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– Carney also met with Polish Prime Minister Donald Tusk in Warsaw on Monday, announcing stronger ties in trade, defence and energy. The two countries will start conducting annual bilateral meetings and encourage industrial partnerships. A 2017 deal doubled trade between Canada and Poland, but Canada is now operating with a trade deficit.
– Negotiations between Canada Post and the Canadian Union of Postal Workers will resume today. After Friday’s meetings were delayed, a Canada Post spokesperson said the Crown corporation is reviewing CUPW’s offers and is in regular contact with the union through federal mediators.
– The Pro Farmer crop tour projected a record 16.204 million-bushel corn crop in the United States in 2025 due to favourable weather this summer. However, production will fall short of the U.S. Department of Agriculture’s estimate of 16.742 billion bu. as plant disease and heat stress reduced yields in across the farm belt. Pro Farmer also said Friday it expects a record 4.246 million-bu. U.S. soybean crop (USDA at 4.292 billion), despite dry conditions in parts of the eastern Midwest and the presence of disease in Iowa.
