Glacier FarmMedia COVID-19 & the Farm

Global Markets: Canadian soybeans also facing Chinese hurdles

By MarketsFarm

WINNIPEG, May 17 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– Brexit talks in the United Kingdom between Theresa May’s Conservatives and Jeremy Corbyn’s opposition Labour party have reportedly reached a stalemate with no agreement, according to reports.

– Canadian soybeans are facing the same hurdles as canola moving to China, with increased inspections from custom authorities limiting sales the past few months, according to Soy Canada. China had been by far the largest destination for Canadian soybeans earlier in the crop year, with sales by the end of March of just over three million tonnes roughly double what moved the previous year.

– As tensions between Iran and the United States ramp up, Iran has described the U.S. escalation as “unacceptable and uncalled for.” Iran’s Foreign Minister Javad Zarif said the country would not hold talks with the U.S., but would proceed with caution given recent moves by the U.S. to remove diplomatic staff from neigbouring Iraq and increasing military presence in the region.

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