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Manitoba Agriculture Applauds Successful Effort to Conclude CPTPP Negotiations

 
Manitoba's Agriculture Minister applauds the efforts of those involved in the successful conclusion of efforts aimed at creating a new Trans-Pacific free trade agreement.
 
On Tuesday the 11 nations participating in negotiations aimed at creating a Trans-Pacific free trade agreement announced a deal had been struck and will be officially signed in early March.
 
Ralph Eichler, Manitoba's Minister of Agriculture, says Manitoba sees the Comprehensive Progressive Trans-Pacific Partnership as a substantial benefit for Canada and for Manitoba even without the U.S. participating.
 
Ralph Eichler-Agriculture Minister Manitoba:
 
The CPTPP countries represent a market of about 494 million people, a combined GDP of 10.2 trillion and close to 13.6 of the world economy so successful implementation of the CPTPP with Canada as a founding signatory is vital to Manitoba.
 
As you know, for Agriculture in particular, it gives us access to the Japanese market which is key for beef, pork, canola oil and wheat.
 
Japan is our largest customer when it  comes to our Manitoba pork which is strong.
In 2016 46 percent of Manitoba pork exports, worth 425 million went to Japan alone.
This is a huge step for us, we're excited about this opportunity and looking to expand our markets even more as a result of this agreement.
 
Source : Farmscape

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Will the 2025 USDA December Crop Report Be a Market Mover/Surprise?

Video: Will the 2025 USDA December Crop Report Be a Market Mover/Surprise?


Historically, the USDA December crop report is a non-event or another dud report as the USDA reserves any final supply changes to the final report in January of the following year in this case 2026. But after the longest U.S. government shutdown in history at 43 days and no October crop report will they provide more data/surprise and make an exception?
Our China U.S. soybean purchase tracker is now at 26.6% or a total of 3.2 mmt but for traders it’s taking too long to unfold.
The final Stats Canada production report was bearish canola and wheat projection a record crop in both (it adds to the global glut of supplies) and bullish local corn and soybean prices in Ontario/Quebec thanks to a drought. It will not help the fund flow short-term, the USDA may need to offset it?
A U.S. Fed interest rate cut of another 25-basis point next Wednesday (probability 87.1%) could help fund flow and sentiment in stock and ag commodities into year end.
More inflows into Bitcoin this past week saw prices rebound back above 90,000 with support at 82,000 and resistance at 96,000.
A V-shaped bottom in cattle suggest the lows are in after Mexico reported another new world screwworm case. Lower weights, seasonal demand and higher U.S. beef select/choice values with a continued closure of the Mexican border to cattle will result in a resumption of higher cattle futures into yearend.
Australia is expected to produce its 3rd largest wheat crop ever at 36 mmt adding to the global glut of supplies.
Reports of ASF in hogs in Spain the largest pork exporter in Europe could see the U.S. win more pork export business long-term.
If the rains verify into next week of 3-5 inches for Brazil it would go a long way to fixing the dry regions from the last 2-months, but the European weather model has been wrong for the past 2-months!
Natural gas futures are surging to the 3rd price count as frigid hold temps set in.
CDN $ is also surging to end the week on a very resilient economy and better employment numbers suggesting no interest rate cuts next week.
Finally, the CFTC report showed funds were net buyers of soybeans but sellers of corn, canola and wheat. In real time the funds have gone back to selling as they take some profits.