Farms.com Home   News

WTO Hears US Appeal On COOL

Canadian, US and Mexican officials appeared before the WTO’s Appellate Body this week in Geneva.
 
The US is hoping the panel will overturn previous rulings against COOL by the WTO, If the U.S. loses the appeal, Canada would be in a position to launch retaliatory tariffs.
 
John Masswohl the CCA’s Director of International Relations says they expect the panels written decision to be released to all parties in late April.
 
"Once that final report is public and adopted by the WTO, then Canada and Mexico will be in a position to request authority to retaliate. Thought there would be a little bit of an arbitration, the authorized amounts, how much trade can we put tariffs on, that probably takes us to about July that Canada would be in that position to put those tariffs on."
 
Masswohl says this was the last kick at the can for the U-S to prevent retaliatory measures, adding that  Canadian officials who have been arguing the case for us have done a tremendous job.
 
He's confident the Appellate Panel will uphold the previous rulings.
 

Trending Video

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.