Quick Overview

• U.S. unemployment rate rose from 8.9% to 9.4%. Non-farm payrolls fell a smaller than expected 345,000.
  

• Canada’s unemployment rate rose from 8.0% to 8.4% in May,
  

• Japan's capital spending fell 25.4%

• Shanghai monthly trade value rose 3.7% MoM, but fell 26% YoY
  
  

• (Spiegel) Germany's central bank, the Bundesbank, is reporting the country's economy will contract by 6.2 percent in 2009 as a result of the global economic crisis. A recovery is expected to start in 2010, but economists warn Germany will struggle at least until 2013.

• University of Illinois projects this year's corn crop at 11.3 bln bu on a yield of 148.6 bu per acre. That would require rationing. Arlan Suderman Farm Futures