Glacier FarmMedia COVID-19 & the Farm

Global Markets: More reports of African Swine Fever across Asia

By MarketsFarm

WINNIPEG, Sept. 23 (MarketsFarm News) – The following is a glance at the news moving markets in Canada and globally.

– South Korea, the Philippines, and China have reported additional cases of African Swine Fever. A total of 12 villages in the Philippines have reported cases of the disease since Sept. 9. South Korea has reported three cases in the past week, and China has reported one new case since the country’s hog herd shrunk significantly earlier in the year. The disease is highly contagious, has no cure or vaccine, and is a significant threat to global soybean demand.

– The Canadian energy sector has received a boost from the drone attack on Saudi Arabian facilities last week. Most notably, petroleum natural gas company Canadian National Resources gained 13 per cent last week. Benchmark oil prices jumped by nearly 15 per cent following the attack, though has settled down since then. Analysts are predicting a “risk premium” on crude oil prices following the strike. Gains in oil mean gasoline prices in Canada will likely increase in weeks to come.

– The United Kingdom’s opposition Labour Party will vote on the part’s Brexit policy today. Prime Minister Boris Johnson is currently in New York, meeting with European leaders at the United Nations General Assembly. Meanwhile, the Supreme Court will rule on Johnson’s suspension of Parliament on Tuesday.


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