Friday, May 04, 2007

Quick Overview

  • U.S. Unemployment rate rose from 4.4% to 4.5% in April with a gain of 88,000 jobs, the weakest monthly increase in more than two years. Nonfarm payrolls in February were revised up 23,000 while March's figures were reduced by 3,000.

  • Australia reduced its 2007 estimate of core inflation from 2.75% to 2.50%.

  • Brazil's Stock Market broke 50,000 for the first time.


  • Brazil expects to produce 5.34 billion gallons of ethanol (from sugar)in 2007, the most ever and up 13% YoY.

  • Brazil expects sugar production at 31.3 million tons in 2007-2008, up 5% YoY.

  • Kansas Wheat Quality Tour found surprisingly big crops, saying the wheat in western Kansas should more than make up for the yield losses from freeze-damaged wheat in traditionally high-yielding parts of the state. But how much damaged wheat will be harvested remains a wild card.

  • Crude palm oil's bull run is likely to continue for at least another decade, analysts predicted at an international vegetable oil conference.

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