- During the first quarter the U.S. economy grew at its slowest pace in two years –renewing fears of stagflation.. The economy expanded at a 3.1 % annual rate as consumers and businesses were pinched by rising energy prices. Economist had expected a growth rate of 3.6%.
- The U.S. Census Bureau on Thursday reported U.S. March soybean crush totaled 149.7 million bushels, above the average analyst estimate of 148.7 million bushels.
- U.S. March soy oil stocks totaled 1.790 billion pounds, versus analysts
estimates of 1.779 billion pounds. Soy meal inventories totaled 251,744 tons versus the average analyst estimate of 316,700 short tons.
- The number of U.S. workers filing for initial unemployment benefits rose by 21,000 in the week ended April 23, reversing three straight weeks of declines, the Labor Department said Thursday
- Industrial production in Japan was down 0.3% in March
- The U.S. Department of Energy said that underground supplies of natural gas were up 73 billion cubic feet last week to 1.416 trillion cubic feet. Supplies are up 24% from a year ago.
- The Reserve Bank of India increased its overnight rate from 5.75% to 6.00%, citing rising inflation.
- The World Trade Organization ruled against European sugar subsidies today, saying that the subsidies violate their trade rules. The decision upheld a 2004 ruling that European sugar exporters are getting more in government handouts than allowed.
- The unemployment rate in Germany dropped from 12.5% to 12.0% in April. The number of unemployed fell from 5.18 to 4.97 million.
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