PALMOILMAGAZINE, TORONTO — A range of global developments is influencing commodity and financial markets today, from weather forecasts in Asia to renewed trade tensions between China and the United States.
In India, the government has forecast above-average monsoon rainfall for the second consecutive year—a welcome signal for farmers who rely heavily on the June-to-September rainy season to sustain agricultural output. Ample rainfall is expected to boost yields, especially for rice and other grains dependent on natural irrigation.
According to Palmoilmagazine.com, citing MarketsFarm on Thursday (April 17, 2025), U.S. wheat futures continued to weaken on Tuesday morning, extending the previous day’s downward trend. The condition rating for U.S. winter wheat dropped by one percentage point in the “good to excellent” category, now standing at 47 percent. Meanwhile, spring wheat planting has reached 7 percent, in line with historical averages.
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In another development, trade tensions between China and the U.S. have flared up once again. Reports indicate that Beijing has instructed domestic airlines to halt new orders for Boeing aircraft—a move widely seen as an escalation in the ongoing trade war. This has put downward pressure on soybean futures, while corn prices also dipped after a modest early gain.
From Southeast Asia, Malaysian palm oil prices saw a decline, driven by expectations of rising production and weaker prices for other vegetable oils in global markets. Despite maintaining its crude palm oil export tax at 10 percent, the Malaysian government has lowered its reference price as of Tuesday.
In Canada, meanwhile, Statistics Canada reported a drop in annual inflation to 2.3 percent in March, down from 2.6 percent the previous month. The easing inflation rate may open the door for the Bank of Canada to consider more accommodative interest rate policies. (P2)
