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Global markets: Russia to ban US corn, soybeans

By Commodity News Service Canada

WINNIPEG, February 10 – The following is a glance at the news moving markets globally.

RUSSIA BANS CORN, SOYBEAN IMPORTS FROM US
Russia will be introducing a ban on corn and soybean imports starting on February 15, according to reports out of the country.

Concern about GMO products, and the potential for contamination were cited as causes of the ban.

PHILIPPINES’ EXPORTS FALL 5.6 PER CENT
Philippine’s merchandise fell for the ninth straight month in December, according to reports out of the country on Wednesday.

Throughout 2015 the country’s exports fell 5.6 per cent from the previous year.

JAPAN ASKS PHILIPPINES TO LIFT IMPORT BANS
Japanese officials have asked the Philippines to lift import restrictions on some agricultural products, according to reports on Wednesday.

The Philippines introduced bans on certain products after the Great East Japan Earthquake, which happened five years ago.

Officials from Japan say the country’s products are free from radioactive contaminants.

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