Saturday, May 07, 2011

Quick Oveviewr

  • (Arlan Suderman) Historically, December corn has a strong tendency to take out the spring high when new-crop stocks are projected below a 50-day supply. I expect USDA to peg new-crop stocks closer to a 20-day supply on Wednesday.

  • Canada's unemployment rate fell 0.1% to 7.6 percent in April.

  • YoY France's budget deficit rose by 16.3% to 33.6 billion Euros (48.83 billion U.S. dollars).

  • The U.S. unemployment rate rose to 9.0% in April, and nonfarm payroll employment added 244,000 positions.

  • China became the main export destination of Argentine soya products in 2010 -- buying 83%.

  • Unilever (China) (UN) faces a fine of 2 million yuan (about 303,000 U.S. dollars) over statements of planned price hikes that enhanced the public's inflationary expectation and triggered panic buying. The fine, handed down by the Shanghai municipal pricing authority, came amid China's efforts to nail down runaway inflation that has spiked prices across the country.

  • Warren Buffett's Berkshire Hathaway Inc. said Friday that its first-quarter profit tumbled 58 percent from a year ago due to insurance losses from major disasters in Japan, New Zealand and Australia.

  • (Bloomberg) -- European Union officials may require Greece to provide collateral for aid as policy makers struggle to prevent the euro area’s first sovereign debt restructuring

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