Quebec man who threatened Trudeau, Legault online sentenced to 20 months in jail
A Quebec man who pleaded guilty to threatening Prime Minister Justin Trudeau and Premier François Legault has been sentenced to 20 months in jail.
Global prices for wheat and corn soared Tuesday after a major dam in Ukraine collapsed, renewing market fears about the fragility of the country's ability to ship food to Africa, the Middle East and parts of Asia as it fights a war with Russia.
Wheat prices gained 2.4% in early trading Tuesday on the Chicago Mercantile Exchange, to US $6.39 a bushel. The cost of corn rose more than 1%, to US $6.04 a bushel, and oats gained 0.73%, to US $3.46 per unit. Prices were higher earlier in the day but faded.
The destruction of the Kakhovka dam and hydroelectric power station, which sits in a Russian-controlled area on the Dnieper River, raised concerns about disruption to Ukraine's affordable supplies of wheat, barley, corn and sunflower oil getting to developing nations where people are struggling with hunger and high food prices.
"Anytime this war shows signs of getting further escalated, there's a lot of concern," said Joseph Glauber, senior research fellow at the International Food Policy Research Institute. "Markets react to that."
Ukraine and Russia are both major agricultural suppliers and the war's disruption to their exports worsened a global food crisis tied to droughts and other factors. Breakthrough agreements brokered by the U.N. and Turkey last year got food moving again through the Black Sea, but it's faced setbacks.
Russia briefly pulled out of the deal last year, has threatened to leave again, is accused of slowing shipments from Ukraine and has only agreed to renew the deal for two months at a time.
"People are going to be watching to see what happens with the agreement," said Glauber, former chief economist at the U.S. Department of Agriculture. "This reminds everyone that it's not just pro forma, that this could be a very serious development if indeed the agreement is broken."
There are massive agricultural fields in southern Ukraine where the dam burst, and while the collapse has endangered crops in the path of the floodwaters, Glauber says less wheat has been planted in that area because it's near the fighting and a lot is growing elsewhere.
The collapse has threatened drinking water supplies, with officials also warning of a looming environmental disaster -- pointing to oil escaping from the dam machinery and significant flooding.
Andrey Sizov, managing director of Black Sea agricultural markets research firm SovEcon, said the dam collapse looked "like a big escalation with dire consequences and huge headline risk."
"This could be just the start of the bull run," Sizov wrote on Twitter early Tuesday.
The wheat futures rally overnight and early Tuesday lost steam as the day progressed. As of around 3 p.m. ET, for example, the price of wheat was down to US $6.27 a bushel.
Wheat, vegetable oil and other food commodity prices have fallen from record highs last year after Russia invaded Ukraine -- thanks in part to the Black Sea grain deal -- but the relief in prices has not made it to markets, grocery stores and kitchen tables.
Citi commodities analysts called the dam breach a "reminder of lingering inflationary risk in the goods market."
It's possible temporary jumps in prices follow significant news events, like the dam collapse, analysts say.
But circumstances are key -- and expectations for food exports from Ukraine will likely "continue to diminish as we recognize that Ukrainian production will continue to be severely impaired because of the war," said Joe Janzen, assistant professor at University of Illinois Urbana-Champaign's College of Agricultural, Consumer and Environmental Sciences.
The supply of grain Ukraine is able to export is 40% lower than it was two years ago, Glauber said.
------
Bonnell reported from London.
A Quebec man who pleaded guilty to threatening Prime Minister Justin Trudeau and Premier François Legault has been sentenced to 20 months in jail.
Pius Suter scored with 1:39 left and the Vancouver Canucks advanced to the second round of the NHL playoffs with a 1-0 victory over the Nashville Predators on Friday night in Game 6.
The adorable trio of child actors from the 1993 classic comedy 'Mrs. Doubtfire,' which starred the late and great Robin Williams, are all grown up and looking back on their seminal time together.
The erstwhile group of senators and MPs studying the federal government's invocation of the Emergencies Act over the "Freedom Convoy" was supposed to present its findings in December. December of 2022, that is.
The Ukrainian village of Ocheretyne has been battered by fighting, drone footage obtained by The Associated Press shows. The village has been a target for Russian forces in the Donetsk region of eastern Ukraine.
A 60-year-old man and a 55-year-old woman killed in a wrong-way crash on Highway 401 earlier this week have been identified by the Consulate General of India in Toronto.
A delegation of the Palestinian militant group Hamas was in Cairo on Saturday as Egyptian state media reported "noticeable progress" in ongoing cease-fire talks with Israel while an Israeli official downplayed the prospects for a full end to the war.
Saing Chhoeun was locked out of his Charlotte, N.C., home on Monday as law enforcement with high-powered rifles descended into his yard and garage, using a car as a shield as they were met with a shower of gunfire from the direction of his neighbor's house.
A source close to singer Britney Spears tells CNN that the pop star is 'home and safe' after she had a 'major fight' with her boyfriend on Wednesday night at the Chateau Marmont in West Hollywood.
Alberta Ballet's double-bill production of 'Der Wolf' and 'The Rite of Spring' marks not only its final show of the season, but the last production for twin sisters Alexandra and Jennifer Gibson.
A British Columbia mayor has been censured by city council – stripping him of his travel and lobbying budgets and removing him from city committees – for allegedly distributing a book that questions the history of Indigenous residential schools in Canada.
Three men in Quebec from the same family have fathered more than 600 children.
A group of SaskPower workers recently received special recognition at the legislature – for their efforts in repairing one of Saskatchewan's largest power plants after it was knocked offline for months following a serious flood last summer.
A police officer on Montreal's South Shore anonymously donated a kidney that wound up drastically changing the life of a schoolteacher living on dialysis.
Since 1932, Montreal's Henri Henri has been filled to the brim with every possible kind of hat, from newsboy caps to feathered fedoras.
Police in Oak Bay, B.C., had to close a stretch of road Sunday to help an elephant seal named Emerson get safely back into the water.
Out of more than 9,000 entries from over 2,000 breweries in 50 countries, a handful of B.C. brews landed on the podium at the World Beer Cup this week.
Raneem, 10, lives with a neurological condition and liver disease and needs Cholbam, a medication, for a longer and healthier life.