By Commodity News Service Canada
WINNIPEG, May 25 – The following is a glance at the news moving markets globally.
CHINA TO RAISE DOMESTIC FUEL PRICES
China will increase domestic gasoline and diesel prices starting Thursday, according to reports out of the country on Wednesday.
Gasoline prices will increase by 210 yuan, or C$42, per tonne, and diesel prices will increase by 200 yuan, or C$40, per tonne.
The anticipated increase will be the third the country has seen this year.
INDIA’S WHEAT EXPORTS UP WITH DROUGHT
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The origin of the wheat is expected to be Australian and French, and will be shipped between July and September.
Market watchers have raised their expectation for India’s wheat imports this year, with guesses between two and five million tonnes.
CANADIAN REALIZED FARM INCOME UP FROM PREVIOUS YEAR
Realized net farm income rose 9.2 per cent from 2014 to C$8.1 billion in 2015, following a 19.1 per cent rise the previous year. The gain in 2015 was the fifth in six years, Statistics Canada said in a report on Wednesday.
Realized net income is the difference between a farmer’s cash receipts and operating expenses, minus depreciation, plus income in kind.
