Quick Overview

• Turkey is serious about sending troops into northern Iraq to hunt down Kurdish separatist rebels hiding there and is not bluffing, a senior minister said.
  
  
  
  

• The dollar fell to a 33-year low against the Canadian, hit a record low ageist the Euro, a poor housing market, so-so corporate earnings, oil prices at $90 -- and Wall Street took a hit.
  
  

• U.K.'s GDP rose 0.8% QoQ and up 3.3% YoY
  

• Canada’s consumer prices rose 0.2% MoM and 2.5% YoY
  
  
  

• USDA's Keith Collins believes US corn acreage will decline in the coming year to 87 million, cotton to 10 million. Collins estimates US wheat plantings at 64 million acres, soybeans at 70 million - both increases from the previous year.
  
  

• There is talk that Russia will increase its export duty on wheat to 30%. Currently Russia plans a 10% duty on wheat exports to take effect next month.
  
  

• The USDA said there were 10.967 million head of cattle on feed on October 1st, down 3.7% YoY. Placements rose 9% YoY and marketing’s fell 3%.
  
  

• The USDA attaché expects Brazil’s sugar production in 2007-2008, up 2%. He also expects Brazil’s ethanol production up 16%.
  

• YoY the U.S. cocoa grind, at 94,179 tons, fell 14%.