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SCOC Carbon Tax Case Continues

Saskatchewan began arguing its carbon tax reference case before the Supreme Court of Canada
yesterday.
 
The case which continues today is the first case to be argued in person before the SCOC
since the start of the COVID pandemic.
 
Lawyers for the Saskatchewan and Ontario governments faced some tough questions from
the Supreme Court Justices.
 
At issue is whether Ottawa has the constitutional right to implement the Federal
Carbon Tax on the Provinces as part of its plan to fight climate change.
 
The Province's lawyers argued the power lies with the provinces and that Ottawa should not be allowed to override it,
while Federal lawyers argued the case is more about climate change.
 
The hearings are expected to wrap up before the Supreme Court on Wednesday while deliberations on
the case are expected to take several months.
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Did Bears Win Thanksgiving, Will Bulls Get Christmas?

Video: Did Bears Win Thanksgiving, Will Bulls Get Christmas?


Did the bears win Thanksgiving (although this week had green on the screen), and will the bulls get Christmas? Bears won thanksgiving thanks to a USDA Nov crop report dud that stalled the bullish grain momentum for a brief period. But a bullish lower yield surprise in the Dec crop report could reignite the rally.
2026 U.S. winter wheat planting is nearly complete at 97% while crop conditions improved by 3 points to 48% good-to-excellent. US corn & soybean harvest is complete.
High corn demand, which is off the chart, and more Chinese soybean demand could support a Christmas rally.
Nasdaq had it’s worst November since 2011.
A U.S. Fed rate cut in December will help fund flow and sentiment.
Bitcoin held a long-term support at 80,000 and that's positive for fund flow and sentiment. It should help stock prices and Ag as we go into December.
Fertilizer prices continue to climb as we look ahead to 2026. Farmers may rely more on the nutrients that they already have in their soils.
South American Weather remains critical as the soybean reproductive stage starts from late Nov to late Feb depending on planting date.
Will a Russia-Ukraine peace deal happen by year-end?
CFTC data as of showed more managed money fund sell-off as of October 14th.