Global markets: Global import bill expected to fall in 2016

By Commodity News Service Canada

WINNIPEG, June 2 – The following is a glance at the news moving markets globally.

WORLD FOOD IMPORTS EXPECTED TO DROP ON THE YEAR
This year’s global food import bill is expected to fall to a seven-year-low, according to reports on Thursday.

The world’s imports have increased, market watchers say, but lower grain prices and freight rates have offset those gains.

US JOBLESS CLAIMS FALL
US jobless claims in the week ended May 28 dropped 1,000 to sit at a seasonally adjusted 267,000, according to reports out of the country on Thursday.

Analysts say no special influences contributed to the lower claims, but some states were estimated due to being closed for Memorial Day.

YEAR-OVER-YEAR GAINS CONTINUE IN CANADA’S RESIDENTIAL INVESTMENT
In the first quarter, total investment in residential construction rose 2.1 per cent compared with the same quarter in 2015 to C$26.1 billion. This marked the ninth consecutive year-over-year gain, Statistics Canada said in a report on Thursday.

According to StatsCan, the increase came from all components, except acquisition costs related to new dwelling units and semi-detached dwellings. Higher investment in apartment and apartment-condominium building construction (up 21.2 per cent to C$4.1 billion) was responsible for much of the advance at the national level.

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