Wednesday, May 27, 2009

Quick Overview

  • The National Association of Realtors said existing home sales rose 2.9% MoM

  • Malaysia's GDP shrank a sharper-than-expected 6.2% in Q1

  • YoY Japan's export fell 38.1% in April, but rose 1.9% MoM

  • A survey of 45 forecasters found three-quarters expect the economic downturn to end by Q3

  • The USDA said:
    82% of the corn crop was planted, up from 62% last week. The five-year average for this date is 93%.
    48% of the soybean crop was planted, up from 25% last week. The five-year average for this date is 65%.
    79% of the spring wheat crop was planted, up from 50% last week. The five-year average for this date is 95%.
    61% of the cotton crop was planted, up from 42% last week.

  • Global oil demand is picking up, supported by higher consumption in China, so said Ali Naimi Saudi Arabia's oil minister – he is predicting $80 oil as economies recover.

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