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Global Markets: Russia close to declaring emergency

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Published: June 3, 2024

By Phil Franz-Warkentin

 

Glacier FarrmMedia MarketsFarm – The following is a glance at the news moving markets in Canada and globally.

 

  • Russia is reportedly close to declaring a nationwide emergency after frost caused crop damage in May, the country’s agriculture minister Oksana Lut was quoted as saying in the country’s state-run news agency on Monday. Several individual regions have already declared emergencies, with many analysts lowering their calls on Russian grain production over the past few weeks.
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  • Claudia Sheinbaum was elected President of Mexico over the weekend, becoming the first woman to reach the country’s top job. Sheinbaum was the former mayor of Mexico City and has a PhD in energy engineering. She also becomes the first person of Jewish heritage to lead Mexico.

 

  • South Korea will suspend a 2018 military pact with North Korea in response from recent provocations from the North, including the launch of hundreds of balloons carrying trash to the South. The suspension of the agreement will allow South Korea to begin conducting military training near the border between the two countries once again.

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