Quick Overview

• The U.S. trade deficit rose to a record $68 billion in July on declining exports and soaring imports, the Commerce Department said Tuesday.
  

• The confidence of American consumers edged higher last week on falling gasoline prices, ABC News and The Washington Post said on Tuesday.
  

• Industrial production in India increased 12.4% YoY
  
  

• Consumer prices in the U.K. were up 2.5% in August.
  

• Canada's exports totaled C$38.5 billion in July, up 2.1% MoM, imports gained 3.1% to C$34.6 billion.
  

• YoY retail sales in China were up of 13.8% in August, more than expected.
  China's fixed-asset investment in August slowed to +21.5% YoY from +27.4% in July. In the year through August, fixed-asset investment rose +29.1% which was less than the consensus expectation of +30%.
  

• The USDA's 2006-2007 U.S. ending stocks estimate for:
  Corn was reduced from 1.232 to 1.220 billion bushels.
  Soybeans were increased from 450 to 530 million bushels.
  Wheat was reduced from 434 to 429 million bushels.
  Sugar was increased from 1.609 to 1.756 million tons.
  Cotton was reduced from 4.70 to 4.60 million bales.
  

• The USDA's 2006-2007 world ending stocks estimate for:
  Corn was reduced from 93 to 92 million tons.
  Soybeans were increased from 50 to 52 million tons.
  Wheat was reduced from 128 to 126 million tons.
  Cotton was reduced from 48 to 47 million bales.
  
  

• Canada’s canola stocks totaled 2.02 million tons, up 27% YoY.
  Canada's wheat stocks totaled 9.74 million tons, up 23% YoY.