Quick Overview

• The University of Michigan's preliminary index of sentiment declined to 78.7 from 84.7 in July.
  
  

• The Chinese central bank today raised its 1-year benchmark rate by 27 bp to 6.12% from 5.85%.
  
  

• YoY Germany's July producer price index was up 6.0% versus. 5.9% exp. -- just slightly below June's 24-year high of +6.1%.
  

• Canada's wholesale sales totaled C$41.5 billion in June, down 0.6% MoM, but up 5.5% YoY.
  

• The U.K. posted a record high budget surplus of 6.3 billion pounds in July.
  
  

• A Canadian ethanol plant is going on stream and anticipates to use 350 mt of feed wheat yearly.
  
  

• The USDA said there were 10.822 million head of cattle on feed, up 7.2% YoY.
  
  

• The Florida Department of Citrus said there were 83.4 million gallons of frozen orange juice in inventory, down 33% YoY.