Compiled by Glen Hallick, MarketsFarm
WINNIPEG, June 3 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
– As global food prices eased back a little in May, they remained at near record levels, according to a report from the United Nations on Friday. The UN food price index saw prices ease back 0.6 per cent last month from April, which included vegetable oil prices declining 3.5 per cent. As well, the world body said farmers are facing steep input costs, meaning less use of fertilizers could deepen the food crisis next year. Following Russia’s invasion of Ukraine, global food prices soared 13 per cent in March.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
– Friday marked the 100th day since Russia launched its full-scale invasion of Ukraine. As the world widely expected Ukraine to surrender after a few weeks at most, the former Soviet republic ground the Russian onslaught to a standstill. That was due in part to a massive influx of Western military aid, primarily from the United States. After failing to take a number of Ukrainian cities, including the capital of Kyiv, Russian forces have now concentrated their efforts on the Donbas and Luhansk regions in the east, while holding much of Ukraine’s south.
– Voters in Canada’s most populous province of Ontario re-elected Doug Ford and his Progressive Conservatives a second majority mandate on Thursday evening. In receiving 40.8 per cent of the ballots, the PC’s upped their majority at Queen’s Park by six seats to 83. In a virtual dead heat in votes at about 23.8 per cent, the NDP won 31 seats to eight for the Liberals, with the Green Party retaining their lone seat. NDP leader Andrea Horwath announced her resignation after four elections, while Liberal leader Steven Del Duca failed to win his constituency and said he is also stepping down after one election.
