Global Markets: No legal recreational pot in Canada until at least August

By Commodity News Service Canada
WINNIPEG, Feb. 16, 2018 (CNS) – The following is a glance at the
news moving markets in Canada and globally.
Farm Equipment maker Deere & Co reported a 23 per cent jump
in first-quarter revenues Friday as its key markets improved,
but recorded a net loss after a charge related the United States
tax reform legislation. Revenues rose to US$6.91 billion in the
quarter ending Jan. 28 from US$5.63 billion last year. Total
equipment sales rose 27 per cent to US$5.97 billion.

Canadians will have to wait until at least early August,
and maybe as late as early September, to legally purchase
recreational marijuana. The Senate will hold a final vote by
June 7 on Bill C-45, assuming it is passed royal assent would
then follow immediately. Health Minister Ginette Petitpas Taylor
has said provincial and territorial governments will then need
eight to 12 weeks to prepare for retail sales.
Foreign investment in Canadian securities dipped slightly
in December following five strong months, however international
demand over the year was high enough to set an annual record,
Statistics Canada said Friday. Non-resident investors sold a net
C$1.97 billion in Canadian securities. Canadians bought a record
US$21.99 billion in international securities in December.

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