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File photo of Deputy Prime Minister Chrystia Freeland in the House of Commons in Ottawa on March 9, 2020. (Photo: Reuters/Blair Gable)
Markets

Parliament hustles through CUSMA ratification

Implementing bill passes before Commons adjourns until April 20

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Ottawa | Reuters — Canada’s Parliament rushed through ratification of the new Canada-U.S.-Mexico (CUSMA) trade pact on Friday before taking a three-week break to help stop the spread of the coronavirus, a top government official said. Canada was the last of the three signatories to formally adopt the pact, prompting congratulations from the United States
(Kat72/iStock/Getty Images)
Crops, Markets

Feed weekly outlook: Seasonal restrictions underpin grains

Coronavirus fallout being watched

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MarketsFarm — Seasonal weight restrictions and spring road bans are providing some underlying support for feed grain bids in Western Canada, with the COVID-19 coronavirus outbreak also being followed closely. “Winter weights are coming off, which is restricting the areas (feedlots) can pull from,” said Allen Pirness, of MarketPlace Commodities in Lethbridge, adding “there’s a
CBOT May 2020 wheat with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets

U.S. grains: Wheat firm, corn flat as financial markets steady

CBOT soybean futures sag

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Chicago | Reuters — U.S. wheat futures closed fractionally higher on Friday and corn ended flat, stabilizing as wider financial markets regained some ground after plummeting on fears of the economic fallout from the global coronavirus outbreak. But soybean futures fell, hitting life-of-contract lows as crop weather in South America improved, bolstering expectations of large
CME April 2020 lean hogs with 20-, 50- and 100-day moving averages. (Barchart)
Livestock, Markets

U.S. livestock: Lean hogs, cattle limit down on coronavirus fears

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Chicago | Reuters — U.S. lean hog futures fell their expanded daily limit on Friday on fears that the coronavirus pandemic could curb consumer demand for meat and threaten the workforce at slaughterhouses, traders said. “The germophobia is in full force,” said Don Roose, president of Iowa-based U.S. Commodities. Traders are considering that more widespread
Canadians should brace for a major effect on food supply chains worldwide.
Comment, Op/Ed, Other

Comment: The fine art of panic buying

Supply chains will be disrupted, but in chaos is also opportunity

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Reports on how the COVID-19 outbreak is affecting global supply chains and disrupting manufacturing operations around the world are increasing daily, and these effects may not yet have reached their peak, at least not in North America. This may happen, however, over the next few weeks. Grocers and food retailers are likely engaging their vendors
CBOT May 2020 corn with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets

U.S. grains: Corn, soy drop to six-month lows

Wider markets sell-off continues

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Chicago | Reuters — U.S. corn and soybean futures fell to six-month lows on Thursday as another rout on Wall Street underscored uncertainty about economic fallout from the coronavirus pandemic as well as demand for agricultural commodities, analysts said. Wheat futures followed the weak trend. Chicago Board of Trade May corn settled down 8-3/4 cents
An image created by Nexu Science Communication, together with Trinity College in Dublin, shows a model structurally representative of a betacoronavirus, the type of virus linked to COVID-19. (Nexu Science Communication via Reuters)
Markets

Fraser: What will be the long-term impact of COVID-19?

Analysis: A pandemic runs the risk of driving nations further apart

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As developments around the COVID-19 coronavirus change rapidly, I can’t help but speculate on the longer-term effects of it. By now, much has been made of the economic impact it — alongside the Saudi Arabia-Russia oil trade war — will have on global economies. While it’s guesswork to estimate the total impact without knowing how
Empty shelves out of stock of pasta are pictured in a supermarket in London, England, March 6, 2020.
Markets, News

Fear is the price killer in commodity markets

COVID-19 | Cuts in key interest rates helped slow the declines in futures

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There’s no doubt that the COVID-19 coronavirus is having a tremendous effect on commodity markets. Although Canada and the United States have a mere fraction of the reported cases and deaths, fears toward COVID-19 have generated sharp losses in North American markets. There was something of a reprieve this week as the U.S. Federal Reserve
An image created by Nexu Science Communication, together with Trinity College in Dublin, shows a model structurally representative of a betacoronavirus, the type of virus linked to COVID-19.
Comment, Other

Comment: The end of coronavirus is nowhere in sight

COVID-19's economic impact is hitting hard

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In just one, unwelcome week, the coronavirus drained US$3.6 trillion from the U.S. stock market, clipped Apple shareholders for US$220 billion, and sent millions of Americans to stores to buy every face mask, surgical glove, and gallon of bleach they could get their now-sanitized hands on. It’s what we do; we panic first and ask

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