By Commodity News Service Canada
WINNIPEG, April 13 – The following is a glance at the news moving markets globally.
CHINESE EXPORTS GAIN, MARKETS UP
China’s exports increased to their highest level in more than a year in March, according to reports on Wednesday. The news propped up many stock and commodity markets in early activity.
The country’s exports—in yuan terms—increased by 18.7 per cent in March, compared with the same time frame the year prior.
US IMPORTS MORE CORN, DESPITE HIGH SUPPLIES
Despite ample supplies, and the expectation that an increased amount of corn will be seeded this year, the US is importing corn from places like Brazil and Argentina, market watchers say.
In many cases it’s cheaper to source the grain overseas.
US corn imports are expected to reach 50 million bushels this season, which is up 56 per cent from last season, the United States Department of Agriculture said in a report on Tuesday.
BANK OF CANADA SET TO RELEASE ASSESSMENT
The Bank of Canada is slated to release a monetary policy report later on Wednesday.
The report is expected to provide analysis on the effects increased federal spending—and resulting deficits—will have.