Global Markets: Trump pauses tariffs on some Chinese high-tech goods

Glacier FarmMedia | MarketsFarm — The following is a glance at the news moving markets in Canada and globally.

• Tariff news over the weekend saw United States President Donald Trump exempt tariffs on some high-tech goods from China, although the message quickly shifted, and Trump said the levies would still be implemented eventually.

• India and the U.S. have finalized terms of reference for talks over the first phase of a bilateral trade deal, with Indian officials expressing confidence that a ‘win-win’ deal could be possible.

• Grain and oilseed markets in the United States were mixed Monday morning. Wheat futures were down across the board, while soybeans and corn were trading within a few cents of unchanged. The Chicago Board of Trade is scheduled to launch its own spring wheat futures today, providing competition to the Minneapolis spring wheat futures now traded on the MIAX platform.

• Russian wheat export prices dipped over the past week as new crop weather conditions improved, according to reports out of the country. Production estimates our of Russia are varied, with some forecasters raising their production and export estimates and others revising them downward.

• Malaysian palm oil was weaker Monday amid the escalating trade tensions between China and the U.S.