Markets
Dry weather early this month in Argentina and southern Brazil shaved down soybean yield hopes while crops in central and northern Brazil enjoyed ample moisture.
Markets
Big South American soy crop still expected, despite setbacks
Optimistic production forecasts are receding, but most still expect record soybean production from South America
Slight increase expected for durum acres
SWIFT CURRENT – Marlene Boersch isn’t buying what Agriculture Canada is selling. In its Outlook for Principal Field Crops, published in January, the department forecast a five per cent drop in durum wheat acres – going from 6.35 million seeded acres in 2024 to 6.05 million this year. Those estimates are too pessimistic, said Boersch, […] Read more
U.S. tariffs on Canada delayed until March
Trudeau and Trump reach deal to postpone trade war
Glacier FarmMedia – A looming trade war between Canada and the United States set to begin Feb. 4 will be postponed for at least another month, Prime Minister Justin Trudeau announced via social media late Monday, Feb. 3. Impending 25 per cent tariffs on Canadian imports to the U.S. and retaliatory Canadian measures were set […] Read more
Trump tariffs mean Canadian whisky importers may pass costs to Americans
LONDON/NEW YORK (Reuters) – Global makers of alcoholic drinks like Diageo are caught in the cross-fire of a major trade war as U.S. tariffs deal a hefty blow to an industry already struggling with falling sales. Key brands like Don Julio tequila and Jack Daniel’s whiskey from producers like Diageo and Brown-Forman could become more […] Read more
ICE canola futures rose on the hope that tariffs could be avoided
WINNIPEG, Manitoba (Reuters) – ICE canola futures reversed course from weakness in the overnight market to steadily rise Monday on optimism U.S. tariffs can be avoided. • March canola settled up $2.40 at $640.50 per metric ton. Other contract months also rose. Follow all our coverage of the tariffs situation here • “It’s pretty impressive […] Read more
Mexico, U.S. reach deal to delay tariffs for one month
Trudeau and Trump to speak again later today
MEXICO CITY/WASHINGTON/BRUSSELS (Reuters) – U.S. President Donald Trump paused new tariffs on Mexico for one month after Mexico agreed on Monday to reinforce its northern border with 10,000 National Guard members to stem the flow of illegal drugs. The agreement also includes a U.S. commitment to prevent trafficking of high-powered weapons to Mexico, Mexican President […] Read more
White House says Trump to impose tariffs on Canada, others Saturday
UPDATED: February 3, 2025 – 1000 CST – list of items Canada will be applying retaliatory tariffs on – WASHINGTON (Reuters) – U.S. President Donald Trump on Saturday will implement tariffs of 25 per cent on Canadian and Mexican imports and 10 per cent on Chinese goods with immediate effect, White House spokesperson Karoline Leavitt […] Read more
Geopolitics and uncertainty expected to shape the future
Export Development Canada official highlights key challenges facing the world, from U.S. spending to global instability
While 2024 wrapped up with a lot of anticipation, 2025 looks increasingly uncertain. That was the message from Ross Prusakowski, deputy chief economist with Export Development Canada, during the Canadian Soybean Harvest Update held late last month. Much of his presentation focused on the U.S. economy and its substantial global influence, the impacts of geopolitics […] Read more
Predicting the future of tariffs is not an easy thing to do
If you make your living as a forecaster of markets, nothing will humble you as much as dealing with political uncertainty. Agriculture markets have had their fair share of uncertainty from the political arena in the past decade. The Meng Wanzhou situation sideswiped the canola market in 2018 and 2019, which wasn’t on any analyst […] Read more
Trump-effect volatility will be a perennial market mover
On-again, off-again tariff talk kept agricultural markets on edge with the inauguration of U.S. President Donald Trump. Living up to his name, the president’s whims and proclamations have a tendency of trumping anything else going on, and the early days of the new U.S. administration promised more of the same. While the initial flurry of […] Read more
