Global markets: US farm loan program runs out of cash

By Commodity News Service Canada

WINNIPEG, July 26 – The following is a glance at the news moving markets globally.

US FARM FINANCIAL ASSISTANCE PROGRAM RUNS OUT OF CASH
An American farm loan program has run out of funds due to the high volume of requests for financial assistance, according to reports on Tuesday.

The United States Department of Agriculture is looking for supplemental income until other sources become available. This year’s agricultural downturn is one of the worst in ten years, market watchers say.

US FEDERAL RESERVE EXPECTED TO HOLD RATES STEADY
US Federal Reserve officials are expected to hold interest rates steady following this month’s policy meeting, analysts said on Tuesday.

Fed officials are meeting from July 26 to the 27.

CHINA’S GOLD IMPORTS DROP IN JUNE
China, the biggest global gold consumer, bought a lower amount of gold in June, according to reports on Tuesday.

Purchases dropped to 68.7 metric tonnes in June compared with 101 tonnes in May, data out of the country said on Tuesday.

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