Quick Overview

• GDP in South Korea rose 5.5% QoQ
  

• Canada’s consumer prices rose 0.1% in December, 2.4% YoY
  

• Japan's consumer prices rose 0.7% YoY
  

• IGC estimates corn demand at 770 ml tons, and production at 765 ml tons in the 12-month through June.
  

• Argentina lowered it’s corn production estimate to 21 ml tons from 22.
  

• ICO estimates coffee production at 116 million bags and consumption at 123 for 2007-08.
  

• F.O. Licht, lowered it’s estimate for world sugar production this year by 0.5%. It estimates production at 169.1 ml tons, down from an October estimate of 169.9.
  

• The IGC estimates the 2008/09 world wheat crop at a record 642 million tons. That'd be up 6.6% from the 2007/08 crop.
  
  

• Platinum futures hit all-time highs and gold futures set fresh life-of-contract highs, on power-supply shortages in South Africa.

• The rumor of the day is that the almost daily imports of corn by South Korea are actually Chinas.