Thursday, March 10, 2011

Quick Overview

  • Monetary contraction by the EU has set off a fresh spasm of the Eurozone bond crisis


  • U.S. first-time jobless claims rise by 26,000


  • The USDA estimates:
  • US wheat ending stock at 843 million bushels vs 818 last month
  • US corn ending stocks at 675 million bushels, unchanged from last month. World ending stocks at 123.1 MMT
  • US soy carryout at 140 million bushels. World ending stocks 58.33 MMT.

  • The USDA increased its forecast for Florida's 2010-11 orange crop by four million 90-lb. boxes to 142 million boxes. Each box yields 1.57 gallons.


  • Moody's lowered Spain's bond ratings to Aa2 from Aa1


  • China posts $7.3 billion trade deficit in Feb.



  • (Dow Jones)--China is likely to re-enter the copper market as a more significant buyer of the metal in the second quarter, at a time when global supplies are forecast to be in a deficit of 500,000-600,000 metric tons.

  • The Bank of England has held rates at 0.5% for the 25th month in a row, despite inflation running at 4% - double the target rate.

  • U.S. foreclosure filings dropped to a 3-year low in February.

  • Reports of Saudi police firing on protesters added a new worry.

  • Starbucks (SBUX) is trading at an all time high.

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