06/06/2025 Fear Of Missing Out, Celebrity Break-ups

On the Grains
The International Trade Report showed that the US trade deficit in April decreased by 55% from March to $61.6 billion. This marked the smallest trade deficit in 19 months. While some of that was expected, as companies had front-loaded imports ahead of the tariffs. China still accounted for a deficit of $19.7 billion, more on that below. The drop in the trade deficit in April has led economists to expect a boost to second-quarter GDP. However, caution is warranted as unemployment applications unexpectedly rose last week to the highest since October.