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Global markets: US import prices rise

By Commodity News Service Canada

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

– Import prices in the US were higher in April, according to reports out of the country on Wednesday, coming in above analyst expectations.

Last month, import prices in the US advanced 0.5 per cent, the country’s labour department said.

– Statistics Canada released its 2016 Census of Agriculture on Wednesday, the following are a few highlights.

Farm operators are slightly older and there are fewer farms in Canada than in 2011, but farms are, on average, larger and more area is devoted to crop production according to the results from the 2016 Census of Agriculture, StatsCan said.

According to the government agency, while total farm area edged down from 2011, the area dedicated to cropland rose to 93.4 million acres in 2016. Although urbanization may reduce cropland available in some areas, a net increase in cropland is attributable to a shift in land use. Farmers have converted land formerly used as pasture, summerfallow or other less productive land into productive area.

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