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Canadian Crop Hail Association Releases Latest Report

Thunderstorms seemed to be a regular occurrence across the Prairies lately.
 
There was more storm activity over the weekend in all three provinces including reports of three tornadoes touching down in Southern Saskatchewan and softball-sized hail on Saturday. 
 
Storm damage is keeping hail adjusters busy, in the last two weeks in June, the Canadian Crop Hail Association reported 100  hail claims.
 
CCHA President Rick Omelchenko says they've been hearing about pea to quarter-sized hail being reported in multiple storms.
 
 "There's been some really, really heavily hit areas, but it's been spotty.  There's really no definite areas in particular right now, its right across the prairies Saskatchewan, Manitoba, and Alberta."
 
He says when it comes to the recent thunderstorms there's a real cycle of activity.
 
"Every day or every second day we're getting reports that hail hits somewhere. and it's been extreme in some places like not really vast across all the provinces like they used to be.  There's little pockets stirring up and with all this heat and moisture in the air, it's going to keep happening."
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Markets Continue to Chase Chinese Trade Headlines

Video: Markets Continue to Chase Chinese Trade Headlines


The U.S./China trade war has escalated after Trump threatened to slap 100% Tariff on China by Nov. 1 after China placed some export restrictions on rare earth minerals.
But Trump overstepped/overreacted but the meeting with Xi at the end of the month was still on even after Trump threatened China with an embargo on used cooking oil. The U.S./China were going to meet and talk about trade issues today ahead of the meeting with Xi/Trump in South Korea.
Despite the increased tensions and noise both the corn and soybean futures held support at $4.10 and $10 with a corrective bounce higher on news that U.S. corn yields are a concern.
U.S. soybean prices are $0.90 to $1.50 cheaper than Brazil.
News that China was willing to remove the tariffs on Canada if Canada would lift the 100% levies on Chinese EV vehicles sent funds short covering in canola futures. Canadian and Chinese met on Friday to discuss ag issues like canola and meat.
Stocks fell on the increased rise in tensions with the U.S./China and concerns over bad regional loans, but investors shake off the news on strong Q3 earnings from the big U.S. banks.
Wheat continued to trade to new 5-year lows while cattle were breaking out to new record highs as Trump was working his magic on lower U.S. beef prices.
U.S. crude oil continued its trend lower as did Bitcoin.