Sunday, July 02, 2006

Quick Overview

  • U.S. personal incomes were up 0.4% in May and consumer spending was up 0.4%.

  • The University of Michigan's consumer sentiment index increased from 79.1 to 84.9 in June, more than expected.

  • The National Association of Purchasing Managers' index of Chicago business activity dropped from 61.5 to 56.5 in June.

  • The unemployment rate in Japan improved from 4.1% to 4.0% in May, the lowest in eight years. YoY Japan's consumer prices were up 0.6% in May.

  • YoY GDP growth in the U.K. was revised from an increase of 2.2.% to 2.3% in the first quarter

  • Germany's retail sales were down 2.2% in May, but up 1.9% YoY.

  • The USDA estimated U.S. planted acres this spring:
    79.4 million acres of corn, down 3% from a year ago, but up 2% from the March estimate.
    74.9 million acres of soybeans, up 4% from a year ago, but down 3% from the March estimate.
    57.9 million acres of (all) wheat, up 1% from a year ago and up 1% from the March estimate.
    15.3 million acres of cotton, up 7% from a year ago and up 5% from the March estimate.

  • The USDA reported U.S. grains stocks as of June 1st:
    4.36 billion bushels of corn, up 1% from a year ago.
    990 million bushels of soybeans, up 42% from a year ago.
    568 million bushels of all wheat, up 5% from a year ago.

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