- U.S. Corn and soybeans are entering a critical part of the growing season, when the crops must become established. Most of Illinois received less than 40% of normal precipitation during the March-to-May period, causing moisture supplies to slowly vanish
- Factory orders in Germany were down 2.9% in April, weaker than expected.
- Year over Year Capital spending in Japan increased an impressive 7.4% in the first quarter.
- A Holstein cow in northern Japan has been confirmed as Japan's 20th case of mad cow disease.
- The Senate Energy and Natural Resources Committee approved its portion of energy legislation that would increase the use of biofuels such as biodiesel and ethanol.
- Australia, the world's second-biggest wheat exporter, cut its production forecast for the grain by 29 percent because of a drought in the country's southeast.
- Thailand’s economy shrank for the first time in four years in the first quarter of this year, as a drought parched crops and tourists stayed away after the Boxing Day tsunami.
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