Economic policy changes also drove market activity. The US Federal Reserve reduced rates for the first time in nine months, with further cuts likely. These moves fueled stock market gains, with major US indexes sharply higher to new record levels. Lower rates may eventually increase commodity investment, though effects will take time.
The Bank of Canada cut rates for the eighth time to 2.5 percent, with more cuts possible by year end.
The team noted a new US framework trade agreement with Taiwan worth $10 billion over four years. While positive, it is not seen as a major shift compared to existing trade volumes.
Statistics Canada raised production estimates for canola and wheat, with canola possibly reaching 21 million metric tons by December.
Meanwhile, drought continues to stress US Midwest and Ontario crops, while South America expects favorable rains for soybean planting.
In livestock, the USDA’s latest Cattle on Feed report showed tight supplies.
Butter futures fell to their lowest level in nearly three years due to strong seasonal production.
Agostino and Gopal emphasized that farmers must stay alert to these changing trade, weather, and market conditions to protect profits and plan harvest strategies.
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