Quick Overview

• U.S. housing starts fell 13% MoM 54% YoY -- weaker than expected.
  

• YoY U.K. consumer prices rose 2.3% in April
  

• Construction output in the EU fell 2.1% MoM and 10.5% YoY
  

• Investor confidence in Germany rose from 13 to 31.1
  

• Arlan Suderman’s Farm Futures model suggests old-crop beans stocks will fall to 9-day supply. Market must ration demand to prevent that from occurring.

• China Shipping Container Lines rose 5.6% as Goldman Sachs said it was turning more positive on the transportation industry.
  

• China’s imports of iron ore, used in steelmaking, jumped 33% in April, setting a record for a third month, the customs office said.
  

• Japan's economy shrank a record 4.0% in Q1.
  

• Ahead of Friday's USDA cattle on feed report, Allendale Inc. sees the total number of cattle on feed down 2.9%, which would be the smallest May 1 total in four years.