Global Markets: 25 million tonnes of grain stuck in Ukraine

By MarketsFarm

WINNIPEG, May 6 – The following is a glance at the news moving markets in Canada and globally.

– An estimated 25 million tonnes of grain are stuck in Ukraine and unable to be exported due to infrastructure challenges and blocked Black Sea ports caused by the Russian invasion of the country, according to an official with the United Nations Food and Agriculture Organization. The grain in storage could cause problems for the upcoming harvest in July and August if there is no room to put the new crop. Spoilage is another risk.

– Employers in the United States added 428,000 jobs in April, with the unemployment rate holding steady at 3.6 per cent, according to a report from the country’s Labor Department. The jobs data beat average pre-report expectations. Canadian employment data saw the unemployment rate edge down by 0.1 points, to come in at a record low of 5.2 per cent, according to Statistics Canada. An estimated 15,000 jobs were added in April.

– Amnesty International has found evidence of alleged war crimes in Ukraine, according to a report released by the organization on Friday. Investigators with the human rights group have been documenting allegations in the country since the start of the conflict, interviewing survivors and collecting evidence.

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