GFM Network News


U.S. grains: Soybeans climb as China trade talks progress

July wheat down over four per cent on week

Chicago | Reuters — Chicago soybean futures gained on Friday as U.S. trade talks with China continued, invigorating hopes the top soybean importer would reach earlier export estimates. Wheat fell as the U.S. winter wheat harvest progressed, while corn inched higher on technical positioning. The most active soybean futures on the Chicago Board of Trade

U.K. aims to join Trans-Pacific Partnership

London | Reuters –– The United Kingdom announced on Wednesday it would pursue accession to a revamped version of the Trans-Pacific Partnership. “Today we’re announcing our intent to pursue accession to CPTPP, one of the world’s largest free trading areas,” Trade Secretary Liz Truss said. The British government said joining CPTPP would help the U.K.


Huawei extradition ruling could unleash more Chinese backlash

More punitive trade measures expected

Ottawa | Reuters — A British Columbia court ruling that could permit the extradition of a senior Huawei executive to the U.S. leaves Canada vulnerable to further retaliation from Beijing, analysts said. Huawei chief financial officer Meng Wanzhou on Wednesday lost a challenge to a U.S. bid to extradite her to face bank fraud charges,

Trump floats halt to U.S. cattle imports as pandemic hurts ranchers

'We have a lot of cattle in this country'

Washington/Chicago | Reuters — U.S. President Donald Trump said on Tuesday the United States should consider terminating trade deals under which it imports cattle as he looks to help U.S. ranchers hit hard by the coronavirus outbreak. The United States imports cattle from Mexico and Canada to supplement domestic supplies at lower prices and to



CUSMA pact to take effect July 1, USTR says

Washington | Reuters — U.S. Trade Representative Robert Lighthizer on Friday said he has notified Congress that the new U.S.-Mexico-Canada trade agreement will take effect on July 1, a month later than initially proposed. In a statement, Lighthizer said both Mexico and Canada had taken measures necessary to comply with their commitments under the U.S.-Mexico-Canada


Ag industry a potential ‘bright spot,’ post-pandemic

Agriculture could lead economic rebuild, ATB official says

Alberta’s ag sector will be key in rebuilding the province’s economy once the pandemic is over, says the director of research for economics at ATB Financial. “Overall, I think one of the bright spots in a really dark economic situation in the province is our agriculture and agri-food sector,” Rob Roach said. “It’s still producing.


CBOT weekly outlook: Bargain buying lifts some commodities

MarketsFarm — Despite an ever-changing economic environment due to the global COVID-19 pandemic, ag commodity prices may be sheltered from the worst bearish sentiments. “Global import businesses have taken off this week due to lower commodity prices,” said Terry Reilly of Futures International in Chicago. “If we do see an economic slowdown, we’ll probably see

U.S.-Canada border to temporarily close to nonessential travel

Washington/Ottawa | Reuters — The U.S.-Canada border will close to nonessential traffic, U.S. President Donald Trump tweeted on Wednesday, saying details on the move would be announced later but that it would not affect trade between the two countries. “We will be, by mutual consent, temporarily closing our Northern Border with Canada to non-essential traffic.