Quick Overview

• The U.S. Home Builders/Wells Fargo index of homebuilder sentiment rose from 14 to 16 in April.
  

• (Reuters) - Treasury Secretary Timothy Geithner said on Monday that borrowing costs were falling as credit markets gradually thaw, but warned a painful period lies ahead for American consumers.
  

• The USDA said:
  62% of corn was planted, down from the five-year average of 85%.
  25% of soybeans were planted, down from the five-year average of 44%.
  50% of spring wheat was planted, down from the five year average of 90%.
  42% of cotton was planted, down from the five year average of 53%.

• Emirates Airline is predicting the recession in air freight will bottom out by end of May.