Quick Overview

• MoM Canada's unemployment rate rose from 6.1% to 6.2% in January.
  

• The U.K.’s trade deficit for 2006 totaled 55.8 billion pounds -- the highest on record.
  

• Japan's machine orders in December were down 0.7 %, from a 3.8 % gain in November --not helping the Yen.
  
  

• Cocoa stocks at Nybot approved warehouses fell 22,761 bags
  to total 4.559 million bags.
  
  

• The USDA's U.S. 2006-2007 ending stock estimate for:
  Corn was unchanged at 752 million bushels.
  Soybeans were increased from 575 to 595 million bushels.
  Wheat was unchanged at 472 million bushels.
  Sugar was lowered from 1.801 to 1.695 million tons.
  Cotton was increased from 7.10 to 8.30 million bales. (stocks to use ratio 43%, the most in 18 years)
  

• The USDA's world 2006-2007 ending stock estimate for:
  Corn was raised from 86 to 88 million tons.
  Soybeans were increased from 56 to 57 million tons
  Wheat was lowered from 122 to 121 million tons.
  Cotton was raised from 52 to 53 million tons.
  

• The USDA's estimate of 2007 beef production was reduced from 26.70 to 26.64 billion lbs.
  The USDA's estimate of 2007 pork production remained at 21.65 billion pounds.
  

• The USDA ‘s estimate of the 2006-2007 Florida orange crop remained at 140 million boxes, projected yield was raised from 1.58 to 1.61 gallons a box, 42.0 degrees Brix.
  
  

• Mato Grosso’s soybean farmers reporting soybean rust so far this year has increased to 1,020, from 613 last year. This after 40 inches of rainfall over the last thirty days.