Wednesday, January 05, 2011

Quick Overview

  • U.S. payrolls expanded by 297,000 in December as companies boosted payrolls by the most since records began in 2001.

  • Record high food prices and the likelihood of further increases in the year ahead are raising the specter of a repeat of the food riots that broke out in 2007-08, a senior economist at the United Nation's Food and Agriculture Organization said Wednesday.

  • U.S. crude oil inventories fell 4.16 million barrels to 335.3 million last week.

  • China's 2010 corn output is estimated at 172 million metric tons, down 940,000 tons from the previous estimate.

  • The US Department of Agriculture's Buenos Aires bureau lowered its estimate of Argentine corn production by 1.0m tonnes.

  • the ISM index rose to 57.1% in December

  • (Bloomberg) -- The Pentagon underestimated the speed at which China has developed and fielded a ballistic missile that may be capable of hitting a maneuvering U.S. aircraft carrier, the head of Navy intelligence said today.

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