Quick Overview

• U.S. Producer prices rose 0.7% in April and 3.2% YoY. Excluding food energy, prices were unchanged.
  

• U.S. Retail sales in April fell 0.2% MoM and rose 3.0% YoY.
  

• Producer prices in China were up 2.9% in April from a year ago, up from a 2.7% gain the previous month.
  

• Industrial production in India was up 12.9% YoY.

• Canada's unemployment rate unchanged at 6.1% in April.
  
  

• The USDA estimates 2007-2008 ending stocks of:
  Corn at 947 million bushels, up from 937 million bushels in 2006-2007.
  Soybeans at 320 million bushels, down from 610 million bushels in 2006-2007.
  Wheat at 2.216 billion bushels, up from 2.087 billion bushels in 2006-2007.
  Sugar at 1.34 million tons, down from 1.72 million tons in 2006-2007.
  Cotton at 6.4 million bales, down from 9.5 million bales in 2006-2007.

• The USDA's 2007-2008 world ending stocks estimate of:
  Corn is 90 million tons, down from 93 million tons in 2006-2007.
  Wheat is 113 million tons, down from 120 million tons in 2006-2007.
  Cotton at 50 million bales down from 55 million bales in 2006-2007.
  
• Even though US corn ending stocks are estimated to be above last year, the stocks to use ratio is likely to be lower, down to 7.6% from 8.1% for 2006/07.
  
  

• The USDA expects U.S. beef production to for 2008 up 6.7%.
  

• The USDA expects 2008 pork production to be up 0.8%
  

• The USDA estimates the Florida's orange crop at 131 million boxes and juice yield of 1.65 gallons a box at 42.0 degrees Brix.