Thursday, June 10, 2010

Quick Overview

  • U.S. jobless claims fell 3,000 to 456,000

  • The U.S. trade deficit rose to the highest level in more than a year, according to Commerce Department. Exports fell $1.0 billion to $148.8 billion in April while imports fell $0.8 billion to $189.1 billion.

  • Australia's unemployment rate improved from 5.4% to 5.2%

  • Japan's GDP rose 1.2% in Q1 and 4.2% YoY

  • Canada’s exports fell 1.0% while imports fell 2.2%

  • England kept the interest rate unchanged.

  • The ECB kept its interest rate unchanged

  • YoY China's exports rose 48.5% in May -- boosting hopes that global demand is recovering

  • The USDA's 2010-2011 U.S. ending stocks estimate for:
    Corn was lowered from 1.818 to 1.573 billion bushels.
    Soybeans were lowered from 365 to 360 million bushels.
    Wheat was reduced from 997 to 991 million bushels.
    Sugar was lowered from 844,000 to 764,000 short tons.
    Cotton was lowered from 3.0 to 2.8 million bales.

  • The USDA's 2010-2011 world ending stocks estimate for:
    Corn was lowered from 154 to 147 million tons.
    Soybeans were raised from 66 to 67 million tons.
    Wheat was lowered from 198 to 194 million tons.
    Cotton was lowered slightly from 50.1 to 49.6 million bales.
  • They expect beef production to be down 2% in 2010 and again, in 2011.
  • They expect pork production to be down 4% in 2010, but up 3% in 2011.
  • The USDA raised the 2009-2010 Florida orange crops from 132 to 134 million boxes -- Juice yield unchanged.

  • Container traffic at major ports in India for the April-May period increased by 21 % YoY.

  • The International Coffee Organization estimates world coffee production in 2010-2011 at 134 million bags and consumption at 134 million bags.

  • SEC Approves Halts for S&P 500 Stocks That Move 10%

  • (Bloomberg) -- The proportion of U.S. homeowners turning delinquent on mortgages backing the securities that roiled the global financial system has tumbled in the past three months, even after accounting for a typical seasonal improvement, according to RBS Securities Inc.

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