Quick Overview

• China approved stimulus plan worth nearly $600 billion through 2010 to boost domestic demand.
  

• Japan's machinery orders rose 5.5% in September.
  

• U.K.'s producer prices fell 1.0% in October
  

• Canada's new home starts fell 3% MoM.
  

• The USDA's 2008-2009 U.S. ending stocks estimate for:
  Corn was increased from 1.088 to 1.124 billion bushels.
  Soybeans unchanged at 205 million bushels.
  Wheat was increased from 601 to 603 million bushels.
  Sugar was increased from 656,000 to 907,000 tons.
  Cotton unchanged at 6.20 million bales.
  

• The USDA's 2008-2009 world ending stocks estimate for:
  Corn was increased from 106 to 110 million tons.
  Soybeans were reduced, from 54.3 to 54.1 million tons.
  Wheat was increased from 144 to 145 million tons.
  Cotton was increased from 55 to 57 million tons.
  

• The USDA estimates Brazil’s and Argentina's soybean production up 3%, down from last month's estimate of up 5%.