Quick Overview

• The U.S. Labor Department said the unemployment rate remained at 4.7% in April. Nonfarm payrolls gained 138,000, less than expected.
  

• Average U.S. hourly earnings rose 0.5% in April and up 3.8% YoY.
  

• Canada's unemployment rate rose from 6.3% to 6.4% in April.
  

• The Sao Paulo sugarcane industry association estimated Brazil's 2006-2007 center-south sugarcane crop at 375 million tons, up from a previous estimate of 363 million tons.
  

• The Bush White House is urging Congress to remove the import tariff on ethanol. Farm-state lawmakers however say they're prepared to fight vigorously any attempt to remove the 54-cent tariff on imported ethanol even though demand for the additive is growing as refiners use more of it in gasoline.
  
  

• The 2006 Kansas Hard Red Winter Wheat Tour, estimated the state's crop at 319.2 million bushels, versus 380 million bushels last year.