Monday, May 18, 2009

Quick Overview

  • The U.S. Home Builders/Wells Fargo index of homebuilder sentiment rose from 14 to 16 in April.

  • (Reuters) - Treasury Secretary Timothy Geithner said on Monday that borrowing costs were falling as credit markets gradually thaw, but warned a painful period lies ahead for American consumers.

  • The USDA said:
    62% of corn was planted, down from the five-year average of 85%.
    25% of soybeans were planted, down from the five-year average of 44%.
    50% of spring wheat was planted, down from the five year average of 90%.
    42% of cotton was planted, down from the five year average of 53%.

  • Emirates Airline is predicting the recession in air freight will bottom out by end of May.

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