By Commodity News Service Canada
WINNIPEG, May 24 – The following is a glance at the news moving markets globally.
– Bond credit rating organization, Moody’s Investors Services has downgraded China’s credit ratings, according to reports on Wednesday.
The downgrade is China’s first in close to 30 years, analysts say.
– In Canadian data, realized net farm income rose 7.6 per cent in 2016 to C$8.8 billion. This marks the third consecutive year and the sixth time in seven years that realized net farm income has increased, 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.
Slightly lower operating expenses together with a small increase in farm cash receipts contributed to the gain in 2016.
– In a separate report, StatsCan said farm cash receipts for Canadian farmers totalled $16.1 billion in the first quarter of 2017, up 1.0 per cent from the same quarter a year earlier.