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2020 CANADIAN ORGANIC STANDARDS PASS FINAL VOTE

The Organic Federation of Canada (OFC) has announced that the final vote of the Technical Committee on Organic Agriculture on the proposed amendments to the Canadian Organic Standards has been returned, and all members of the Technical Committee unanimously voted yes!
 
In their latest update, the Organic Federation of Canada (OFC) shared:
 
“The draft submitted to the vote will be referenced by the Safe Food for Canadians Regulations when it is published by the Canadian General Standards Board this fall….
 
“After the publication of the 2020 Standards, operators will have one year to adjust their practices to comply with the revised requirements….
 
“The OFC is pleased with the unanimous vote of the voting members; the 706 comments received during the public review conducted in the summer of 2019 helped to resolve many ambiguities and build consensus on the most contentious issues. The OFC has published numerous articles on the controversial issues that have fueled the working groups’ discussions; some of these issues will likely return in the 2025 round of review work.”
 
This final vote marks the culmination of two years of work by members of the Technical Committee and working groups, who analyzed change requests and hundreds of public comments, as well as recommending best ecological practices in Canadian organic production.
Source : Organic Council of Ontario

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U.S.-China Trade “Truce” + U.S. Fed Cuts Rates Again

Video: U.S.-China Trade “Truce” + U.S. Fed Cuts Rates Again


The market was hoping for a US-China trade deal, but we got a trade “truce” for now from the keenly awaited Trump-Xi meeting at the APEC Summit.
China commits to minimum purchase commitments of 12 MMT of U.S. soybeans during the “current season” and a minimum of 25 MMT annually through 2028.
U.S. Treasury Sec Bessent said other Asian countries have agreed to buy additional 19 MMT of US soybean.
Soybean futures trading above $11 now- they normally tend to rally to $12.
As expected, US Fed cuts interest rates by -0.25% again in October to 3.75%–4.00%. No further cuts promised for this year but trade looking out to the Dec FOMC.
The Bank of Canada cut interest rates to 2.25% but raised concern over trade war damage.
Soy meal futures, remarkably, have had 14 consecutive higher close sessions. A bull market in soybeans is a bull market in soy meal!
Cattle futures lower as funds unwind out of cattle for now due to Trump headlines and objective to lower beef prices.
All major stock indices climb to new record highs. It was Mag 7 reporting week, which had mixed results. But we now have the first $5 trillion company in Nvidia!