Quick Overview

Canada's annual inflation rate in March met market expectations, rising to 2.3 percent from 2.1 percent in February, reinforcing beliefs that the Bank of Canada will raise interest rates in the second half of 2005.

Brazil's coffee crop will total 32.46 million 60-kilogram bags in 2005-06 (July-June), according to the latest estimate released by the National Commodities Supply Corp, on Friday. This compares to 38.7 million bags last year.

The USDA said that there were 10.87 million head of cattle on feed, up 1% from a year ago, but less than expected. March placements were down 2.8% and marketing’s were roughly the same as a year ago.

The USDA said that there were 81.3 million pounds of frozen bellies in storage, up 62% from a year ago.

The USDA said Frozen pork totaled 543.4 million pounds, up 21% from a year ago.

ED&F Man said that they still expect world demand for sugar to exceed production in the upcoming year.

The USDA said that there were 1.58 billion pounds of frozen orange juice concentrate in storage on March 31st, down 12% from a year ago.

An index of services in Japan contracted 1% in February after posting a big 2.4% gain in January.

Prime Minister Junichiro Koizumi apologized to China for Japan's wartime atrocities and expressed an interest in improving ties between the two countries.

GDP in the U.K. was up 0 .6% in the first quarter and up 2.8 YoY.

During week of April 16th Tonnage Volume for US railroads reached 33.3 billion ton-miles, up 4.7 percent from the same week in 2004.


Less than two hours before the close, The Wall Street Journal reported that the U.S. had warned China that North Korea could be preparing a nuclear-weapons test.

Earnings for Suezmax tankers in November reached a record of more than US$150,000 a day as global oil consumption grew faster than ship supply.