Quick Overview

• The Federal Reserve joined the European and Asian Central Banks to add cash ($19 billion) to the banking system.
  
  

• YoY Japanese wholesale prices rose 2.1 percent in July -- for the 41st straight monthly increase.
  
  

• The idea that Beijing might use its $1.33 trillion currency reserves as a bargaining chip in trade talks with Washington is (also) unsettling markets.
  
  

• The area of floating ice in the Arctic has shrunk more than in any summer since satellite tracking began in 1979, experts said.
  
  
  

• Japanese corporate failures rose 15.6% in July.
  
  
  

• The USDA's 2007-2008 U.S. ending stocks estimate for:
  Corn rose from 1.502 to 1.516 billion bushels.
  Soybeans fell from 245 to 220 million bushels.
  Wheat fell from 418 to 404 million bushels.
  Sugar rose from 1.377 to 1.388 million tons.
  Cotton fell from 5.90 to 5.80 million bales.
  
  

• The USDA's 2007-2008 world ending stocks estimate for:
  Corn fell from 108.4 to 102.2 million tons.
  Soybeans fell from 51.9 to 51.6 million tons.
  Wheat was fell 116.6 to 114.8 million tons.
  Cotton rose from 50.8 to 51.5 million tons.