2025-06-30 21:33

Phased reopening to start July 7 with Douglas, Arizona as lowest risk entry point Ports in New Mexico and Texas to reopen in coming weeks, USDA evaluates conditions CHICAGO, June 30 (Reuters) - The U.S. Department of Agriculture announced on Monday a phased reopening of cattle, bison and equine imports from Mexico following a prolonged closure over the damaging pest New World screwworm. Ports will reopen in phases as early as July 7, beginning with Douglas, Arizona, which the USDA said is the lowest risk entry point due to its location and the "long history of effective collaboration" between officials in Sonora and USDA's Animal and Plant Health Inspection Service. Sign up here. The southern U.S. border was closed to imports of the animals on May 11 after screwworm, a species of fly that has been eradicated in the U.S. for decades, had been moving northward in Mexico. Additional ports in New Mexico and Texas may be reopened in coming weeks. The pest can infest livestock and wildlife and carry maggots that burrow into the skin of living animals, causing serious and often fatal damage. As part of the country's effort to fight screwworm encroachment, the USDA announced plans on June 18 to open a sterile fly dispersal facility in Texas, and invested $21 million in updating a plant in Mexico to produce sterile flies. "We have made good progress with our counterparts in Mexico to increase vital pest surveillance efforts and have boosted sterile fly dispersal efforts," USDA Secretary Brooke Rollins said in a statement. "We are continuing our posture of increased vigilance and will not rest until we are sure this devastating pest will not harm American ranchers," she said. The port in Columbus, New Mexico, may reopen on July 14, followed by Santa Teresa, New Mexico, on July 21, Del Rio, Texas, on August 18 and Laredo, Texas, on September 15, the USDA said. The agency added that it will evaluate conditions after each reopening to ensure that the enhanced control measures are working. Mexico's government later issued a statement saying its agriculture minister, Julio Berdegue, requested some of the deadlines for reopening be accelerated and said Rollins had agreed to review them. Mexico said it will ban the movement of livestock without proof of inspection and treatment for screwworm from affected areas to central and northern Mexico starting July 7. There would also be a bilateral technical meeting on Tuesday to follow up on the agreements, Mexico's government said in its statement. https://www.reuters.com/world/americas/usda-announces-phased-reopening-mexican-cattle-imports-after-screwworm-closure-2025-06-30/

2025-06-30 21:07

NEW YORK (June 30) - TRADING DAY Making sense of the forces driving global markets Sign up here. By Lewis Krauskopf, Markets Reporter Jamie is enjoying some well-deserved time off, but the Reuters markets team will still keep you up to date on what moved markets. Today we're closing the books on a turbulent first half of 2025. Trade, which has been the propelling story for markets this year, was once again a key driver on Monday. I'd love to hear from you, so please reach out to me with comments at [email protected] , opens new tab Today's Key Market Moves Today's Key Reads Ending first half on a record high note A tumultuous first half of the year for Wall Street closed on Monday with stocks on a roll, as the S&P 500 and Nasdaq again minted records. The two indexes built on gains after ending on Friday at record highs for the first time in months. The Dow was also in striking distance of a record peak, closing about 2% from the blue-chip index's milestone. As it has for months, trade news continued to be a dominant theme for markets. The United States said it would resume trade negotiations with Canada after Ottawa halted plans to begin collecting a new digital services tax targeting U.S. technology firms just hours before it was due to start. The digital levy had caught the ire of President Trump last week, prompting the U.S. to cancel trade talks with Canada. Focus was also on a looming July 9 deadline, the end of a pause on many of Trump's harsher trade tariffs. Treasury Secretary Scott Bessent warned countries may not get extensions of that deadline, even if - as he suggested previously - they are negotiating in good faith. The dollar continued to struggle on Monday, another theme for the year so far. The greenback marked its sixth straight month of losses against a basket of major currencies and the euro hit its highest level against the dollar in nearly four years. Another first-half topic likely not going away anytime soon? Trump pressuring Federal Reserve chair Jerome Powell to lower interest rates. White House reporters were told on Monday that Trump sent a handwritten note to Powell urging him to ease rates, the latest complaint the president has levied against the central bank chief. To some extent, the pressure may be seeping into markets. Fed funds futures have indicated investors expect nearly three cuts this year, more than they did a few weeks ago. Treasury yields continued their recent descent, with the benchmark 10-year yield around 4.23%. Elsewhere in Washington, Senate Republicans were trying to get Trump's sweeping tax-cut and spending bill over the line. Trump wants his fellow Republicans to get it passed before the July 4 Independence Day holiday, but there are divisions within the party about its expected $3.3 trillion hit to the nation's debt pile. Investors also were turning attention to economic data in the holiday-shortened week, with the monthly U.S. jobs report due on Thursday. What could move markets tomorrow? Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles , opens new tab, is committed to integrity, independence, and freedom from bias. Trading Day is also sent by email every weekday morning. Think your friend or colleague should know about us? Forward this newsletter to them. They can also sign up here. https://www.reuters.com/world/americas/global-markets-trading-day-graphic-2025-06-30/

2025-06-30 21:02

S&P, Nasdaq end quarter with double-digit gains Banking shares rise after Fed's stress test Indexes up: Dow 0.63%, S&P 0.52%, Nasdaq 0.48% NEW YORK, June 30 (Reuters) - The S&P 500 and Nasdaq reached record closing highs on Monday, capping their best quarter in over a year as hopes for trade deals and possible rate cuts eased investor uncertainty. Both indexes ended the quarter with double-digit gains. The S&P 500 gained 10.57% during the period, the Nasdaq rose 17.75%, and the Dow climbed 4.98%. The Russell 2000 Small Cap index rose 8.28% in the quarter. Sign up here. Still, the three main indexes posted their weakest first-half performances since 2022, as the uncertainty around trade policy has kept investors wary during the year, with tensions peaking after President Donald Trump disclosed widespread tariffs on April 2. Trade deals with China and the UK have fueled optimism that an all-out global trade war can be minimized, with hopes for more deals to be reached before Trump's July 9 trade deadline. The end of the quarter was also influenced by managers tweaking their portfolios to look more attractive at quarter-end. "Animal spirits seem to have taken hold here," said Roy Behren, co-president of Westchester Capital management fund. "It is also quite common for the last couple of days of a quarter to see strength because of the window dressing." On Sunday, Canada scrapped its digital services tax targeting U.S. tech firms, just hours before it was due to take effect, in a bid to advance stalled trade negotiations with the United States. But U.S. Treasury Secretary Scott Bessent warned on Monday that countries could still face sharply higher tariffs on July 9 even if they are negotiating in good faith, and any potential extensions will be up to Trump. Meanwhile, U.S. Senate Republicans will try to pass Trump's sweeping tax-cut and spending bill, despite divisions within the party about its expected $3.3 trillion hit to the $36.2 trillion national debt. Trump wants the bill passed before the July 4 Independence Day holiday. Key economic data releases this week include monthly non-farm payrolls and the Institute for Supply Management's survey on manufacturing and services sectors for June. Several U.S. central bank officials including Federal Reserve Chair Jerome Powell are scheduled to speak later this week. A raft of soft economic data and expectations that Trump will replace Powell with someone dovish have pushed up bets of rate cuts from the Fed this year. On Monday, nine of the 11 S&P indexes closed up. The Dow Jones Industrial Average (.DJI) , opens new tab rose 275.50 points, or 0.63%, to 44,094.77, the S&P 500 (.SPX) , opens new tab gained 31.88 points, or 0.52%, to 6,204.95 and the Nasdaq Composite (.IXIC) , opens new tab gained 96.28 points, or 0.48%, to 20,369.73. Shares of big U.S. banks rose after most cleared the Federal Reserve's annual "stress test," paving the way for billions in stock buybacks and dividends. Leading the S&P 500 were Hewlett Packard Enterprise (HPE.N) , opens new tab, up 11.1 %, First Solar (FSLR.O) , opens new tab up 8.8 %,and Juniper Networks (JNPR.N) , opens new tab up 8.45 %. "The current rally was driven by few heavyweight stocks that drove indexes up, giving the market a sense of optimism despite rising deficit and unresolved policy issues," said Cole Smead, CEO and portfolio manager of Smead Capital Management. "The stock market doesn't seem to care at all, people think this party is going to go on forever," he said. "I think this game is over. It's just a matter of when and how bad it gets." Volume on U.S. exchanges was 17.12 billion shares, compared with the 18.23 billion average for the full session over the last 20 trading days. https://www.reuters.com/business/sp-500-nasdaq-futures-climb-record-highs-trade-optimism-2025-06-30/

2025-06-30 20:50

SAO PAULO/MONTREAL, June 30 (Reuters) - Brazil's energy minister on Monday said a UN decision to recognize the environmental benefits of multicropping in producing Sustainable Aviation Fuel (SAF) was a victory for the South American country, where farmers often grow more than one crop on the same land. The celebrations in Brazil follow reports earlier this month from Reuters which revealed that, according to two sources, the United States was planning to object to the recommendation during a review by the International Civil Aviation Organization's (ICAO) 36-member council. Sign up here. "This victory at the ICAO is further proof that Brazil is the great leader in the global energy transition, and we are leading with sustainable, fair and inclusive solutions," Brazil's Minister of Mines and Energy, Alexandre Silveira, said in a statement. The ICAO took the decision to recognize the benefits of multicropping for producing SAF on Friday June 27, according to Brazil's government. The ICAO was not immediately available to comment. The U.S. State Department declined to comment. In March, State Department spokesperson Tammy Bruce said the recommendation would penalize U.S. producers and give Brazil unfair advantages over the rest of the world, saying it would award a lower carbon score to multicropping, or farming when two or more crops like corn and soy are grown on the same land, a common practice Brazil. https://www.reuters.com/sustainability/brazil-celebrates-un-recognition-environmental-gains-multicropping-jet-fuel-2025-06-30/

2025-06-30 20:43

LONDON, June 30 (Reuters) - It may be the top seed at Wimbledon but even the reigning king of strawberries knows the crown sits lightly. The Malling Centenary berry has reigned supreme since being introduced at The Championships in 2016, sweetening summer rituals and picnics alike at the All England Club. Sign up here. Yet in the fields and labs, a new crop of challengers is ripening. In the high-stakes world of soft fruit supremacy, flavour, firmness and fame are all up for grabs. The Malling Centenary variety is known for its sweetness, “heart-shaped” size, and quality of taste, according to Joe Furber, Food and Drinks Operations Manager at Wimbledon. Weeks of sunshine and a "bumper crop" in the UK have helped produce an excess of strawberries, meaning Furber expects around 2.5 million of them, or 5,000 tonnes, alongside 13,000 litres of cream to be consumed during the Wimbledon fortnight. This year, a portion of 10 Malling Centenary strawberries with cream costs two pounds and seventy pence ($3.70) after the first price increase (20 pence) since 2010. The strawberries are grown in polytunnels by Hugh Lowe Farms, a family-owned business in Kent, just 31 miles from the All England Club, picked and delivered each morning at 8:30am. “Their best time aligns perfectly with the championships, which is quite fortuitous, which is a big part of why they were chosen,” Furber said. But like every champion, it cannot afford to rest on its laurels as contenders lurk to seize the strawberry crown. The Summer Berry Company, based at Groves Farm near Chichester, told Reuters the variety landscape is becoming increasingly competitive and that it has reduced its production of Malling Centenary over the years. “I love Malling Centenary, I’m in no way saying it’s a bad variety. I’m just saying that there’s a new generation of varieties we’re bringing to the market,” Commercial Director Jack Darnes said. Summer Berry, which uses robotics and artificial intelligence technology to help with the harvesting process, grows varieties including Fandango, Karima and Florice, which Darnes said are larger and sweeter. “With Malling Centenary three or four days later they’re still okay, with the new varieties you can survive even longer - six to seven days. So it’s reducing waste, it’s a better product for the end consumer,” he said. “We hope one day there’s going to be a new summer berry variety that people at Wimbledon are going to be consuming even better than Malling Centenary,” he added. Malling Centenary does not suffer the same fate as its predecessor, the Elsanta Variety, which, according to Darnes, is no longer produced in the UK. The UK produces 120,000 tonnes of strawberries each year, generating retail sales of up to 700 million pounds, said Darnes. The global market is estimated at about 10,000,000 tonnes, with a value of $20 billion, according to German agriculture company Bayer. ($1 = 0.7289 pounds) https://www.reuters.com/sports/tennis/wimbledons-strawberry-champion-faces-rivals-its-crown-2025-06-30/

2025-06-30 20:29

Charter would allow Circle to manage reserves, provide custody If approved, Circle would become second crypto firm with charter Move follows blockbuster IPO earlier this month June 30 (Reuters) - Stablecoin firm Circle (CRCL.N) , opens new tab is applying to create a national trust bank in the U.S., a major move after its blockbuster IPO valued the company at nearly $18 billion earlier this month. If the charter is granted by the U.S. Office of the Comptroller of the Currency, it would enable Circle to act as a custodian for its own reserves and hold crypto assets on behalf of institutional clients. Unlike traditional banks, the license would not allow Circle to take cash deposits or make loans. Sign up here. "Circle has long sought to seek the highest standards of trust, transparency, governance, compliance," CEO Jeremy Allaire told Reuters in an interview. "Becoming a publicly traded company is a significant part of that, becoming a national trust company is again a continuation of that." Circle's national trust bank entity would be called First National Digital Currency Bank, N.A. Crypto platform Anchorage Digital is currently the only digital asset company with a national trust bank charter. Circle issues the dollar-pegged stablecoin USDC. Stablecoins, a type of cryptocurrency designed to maintain a constant value, usually a 1:1 dollar peg, are commonly used by crypto traders to move funds between tokens. Their use has grown rapidly in recent years, and proponents say that they could be used to send payments instantly. Stablecoins are backed by assets such as U.S. dollars and short-term Treasury bills in order to maintain their peg to the dollar. Currently, Circle's reserves -- short-dated U.S. Treasury bills, overnight U.S. Treasury repurchase agreements and cash -- are held in custody at BNY (BK.N) , opens new tab and managed by BlackRock (BLK.N) , opens new tab. The new entity would manage Circle’s USDC reserves, although some reserves will continue to be held at major banks, Allaire said. The license would also allow Circle to provide custody services for digital assets on behalf of institutional customers. However, Allaire said it will focus on providing custody for assets like stocks and bonds that are represented via a token on a blockchain network, over traditional cryptocurrencies like bitcoin and ether. GOING MAINSTREAM The move from Circle comes as Congress gets closer to passing a bill to create a federal regulatory framework for stablecoins. If signed into law, the bill would require tokens to be backed by liquid assets and for issuers to publicly disclose the composition of their reserves on a monthly basis. The Senate passed the bill earlier this month, and the House of Representatives is poised to pass the legislation early this summer. U.S. President Donald Trump is expected to sign the bill into law. He has sought to overhaul cryptocurrency regulation after courting cash from the industry during his presidential campaign. Once signed into law, the bill could pave the way for more traditional financial institutions and retailers to incorporate stablecoins into their businesses, experts and analysts say. Circle is preparing for that eventuality, Allaire said. "We're going from the early-adopter phase of this technology into the mainstream," said Allaire. "As a public company, and now, hopefully if we are successful in getting approval from the OCC as a national trust, that will give us a foundation that the world's leading institutions are going to be comfortable building on." Wall Street brokerages began coverage of Circle on Monday with broadly bullish ratings, although some analysts voiced concerns about its elevated valuation given that the stock has more than doubled since its market debut. Barclays, Bernstein, Canaccord Genuity and Needham launched coverage with the equivalent of "buy" ratings and price targets above $200, while JPMorgan and Goldman Sachs had more bearish outlooks. https://www.reuters.com/sustainability/boards-policy-regulation/circle-applies-us-trust-bank-license-after-bumper-ipo-2025-06-30/