Quick Overview

• Oppenheimer analyst Scott Burk said the very large crude carrier day rate was about $59,000 Friday, up from about $20,000 to $30,000 a few weeks ago.
  

• U.S. wholesale sales rose 0.8% MoM and 9.8% YoY
  

• U.S. Inventories rose 0.6% MoM but fell 7.4% YoY
  

• Canada's unemployment rate stayed at 8.2% in March,
  

• The USDA's 2009-2010 U.S. ending stocks estimate of:
  Corn was increased from 1.799 to 1.899 billion bushels.
  Soybeans remained at 190 million bushels.
  Wheat was reduced from 1,001 to 950 million bushels.
  Sugar was increased from 1.075 to 1.218 million tons.
  Cotton was reduced from 3.20 to 3.00 million bales.
  
  

• The USDA's 2009-2010 world ending stocks estimate of:
  Corn was increased from 140 to 144 million tons.
  Soybeans were increased from 61 to 63 million tons.
  Wheat was reduced from 197 to 196 million tons.
  Cotton was reduced slightly to 51 million tons.
  
  

• The USDA expects beef production to be down 1% in 2010
  
  

• The USDA expects pork production to be down 3% in 2010
  
  

• The USDA estimate's Florida's 2009-2010 orange crop up from 131 to 132 million boxes and the projected juice yield was raised from 1.53 to 1.56 gallons per box

• China ran its first monthly trade deficit in six years in March of $7.24 billion, down from a surplus of $7.61 billion in February. Customs official called the shortfall a blip.