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Mexico becomes first country to ratify USMCA deal

Mexico City | Reuters — Mexico on Wednesday became the first country to ratify the United States-Mexico-Canada Agreement (USMCA) agreed late last year to replace the North American Free Trade Agreement (NAFTA) at the behest of U.S. President Donald Trump. By a vote of 114 in favour to four against, Mexico’s Senate backed the trade […] Read more

Canadian Financial Close: Canadian dollar strong along with oil, stocks

By MarketsFarm WINNIPEG, June 19 (MarketsFarm) – The Canadian dollar was stronger at Wednesday’s close, following a generally positive global trade sentiment and strong oil prices. The Canadian dollar closed at US$0.7527 or US$1=C$1.3289, up from Tuesday’s close of US$0.7466 or US$1=C$1.3394. Stock indexes were stronger after the United States Federal Reserve left its key […] Read more

North American Grain/Oilseed Review: Weather forecast, Chicago losses bring down prices By Glen Hallick, MarketsFarm WINNIPEG, June 19 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were weaker on Wednesday, due to the weather forecast and spillover from the Chicago Board of Trade. Showers and thundershowers have been forecast for most of the Prairies through […] Read more

wheat farmers

USMCA ratification bill amends Canada Grain Act

U.S. complaints that Canada discriminates against its wheat will be addressed, if Canadian legislation to ratify the updated North American Free Trade Agreement becomes law. Bill C-100, the implementing legislation for the United States-Mexico-Canada Agreement (USMCA), received first and second reading in the House of Commons May 29 and last Tuesday (June 11) respectively. It […] Read more

ICE canola midday: Rain in forecast bringing down prices

By Glen Hallick, MarketsFarm WINNIPEG, June 19 (MarketsFarm) – ICE Futures canola contracts were significantly lower at midday Wednesday, with bids down C$2 to C$5 per tonne. That’s because rain has been forecast for across most of the Prairies, said a Winnipeg-based trader, noting “rain makes grain.” The trader said he spoke with several farmers […] Read more

Global Markets: Trans Mountain pipeline expansion proceeding

By MarketsFarm WINNIPEG, June 19 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – As widely expected, the federal government announced it’s proceeding with the Trans Mountain Pipeline Expansion project. Prime Minister Justin Trudeau stated on Tuesday that construction on the C$7.4 billion project is scheduled to […] Read more