The International Monetary Fund came out and said the risk of a robust recovery have risen significantly as many governments struggle with debt.Naoyuki Shinohara was quoted After nearly two years of global economic upheaval,shockwaves are still being felt,as we have seen with recent developments in Europe and the resulting financial market volatility.
Shinohara went on to say The global outlook remains uncertain and the downside risks have risen significantly.Europes debt crisis could disrupt global trade,hurting demand for Asian exportsand sending hot money into the region of policymakers if they fail to act swiftly and appropriately, Shinohara told Reuters.
He continued to say that Asia has limited financial risks to the Euro zone economies,it's stronger growth prospects could attract more capital flows to the region and could lead to asset bubbles.Now that Obama has set a new low in job approval he has finally decided to meet with BP's chairman Carl-Henric Svanberg on Wednesday June 16th.That is five days from now.
Wow! Some leadership!This is an outrage and he can't blame Bush for his busy schedule of concerts with Paul Mc Cartney or a night at Ford's Theatre. When we have a major crisis as such the American people expect a Leader to be more hands on and tackle the problem head on and not threaten to fire people and polarize free trade but solve the problem.
I believe that people that voted for him have come to the realization that he is totally unqualified to be Commander in Chief. I still waiting for a Michael Moore movie blaming Wall Street for the debacle in the gulf. It's time to get real Americans and admit it is most definitely time for a change!Let's go to the bullpen.
In the electronic session the July Corn is trading at344 ¾ at this writing putting it up 1 ½ cents.The trading range is 345 ¼ to 342 ¾. Rains that moved through this morning and hot temps should be conducive to growing conditions.
This could pressure the market after yesterdays bullish Corn Report.After Retail Sales released and pressured stocks and rallied the dollar could add more pressure in the open out cry session.Any break in the dollar and rally in the stocks should be supportive.
On the Energy Front were trading lower and continue to remain bearish in the midst of all the economic uncertainty.
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