China’s canola meal futures have been falling ahead of Prime Minister Mark Carney’s trip to Beijing, where he and President Xi Jinping are set to discuss trade issues such as the punishing tariffs China has put on the key Canadian crop—and the duties Ottawa has placed on Chinese EVs. (The Logic)

Talking point: Last year, China imposed 100 per cent tariffs on Canadian canola oil and canola meal—and then 75.8 per cent duties on canola seed—in apparent retaliation after Ottawa followed the U.S. in slapping steep duties on Chinese-made electric vehicles, steel and aluminum. Bloomberg reported Tuesday that during Carney’s visit China will propose easing off canola in exchange for similar moves on EVs. In a briefing Canadian government officials gave reporters Monday on the condition they not be named, they said they hoped for progress but didn’t promise a quick result. Still, canola meal futures on the Zhengzhou Commodity Exchange Tuesday were at their lowest point since last October.