Quick Overview

• The PCE deflator, a core measure of consumer prices, rose 1.8%.
  

• U.S. Personal incomes rose 0.3% in August and consumer spending rose 0.6%, more than expected.
  

• The U.S. Census Bureau said construction spending was up 0.2% from July's pace. YoY construction spending is down 3.3%.
  

• The Chicago purchasing-managers' index rose from 53.8 to 54.2
  

• GDP in Canada rose 9.2% in July and 2.5% YoY.
  

• YoY Japan’s household spending rose 1.6%
  YoY Japan’s Industrial production rose 3.4%.
  Japans unemployment rate rose from 3.6% to 3.8.
  YoY consumer prices in Tokyo fell 0.2%
  

• The USDA said that, on September 1, 2007:
  Corn stocks totaled 1.30 billion bushels, down 34% YoY.
  Soybean stocks totaled 573 million bushels, up 27% YoY.
  Wheat stocks totaled 1.72 billion bushels, down 2% YoY.
  

• The USDA said that all wheat production will total 2.07 billion bushels in 2007, down 2% from the August forecast.
  

• The International Grains Council cut its global wheat production forecast from 607m tonnes to 601m tonnes and cut its estimate for Australian output to 13.5m tons.