Monday, January 12, 2009

Quick Overview

  • Russia will resume pumping gas to third countries via Ukraine from Tuesday morning, the EU says.

  • The FDIC pushed the more than 5,000 banks it regulates to provide information on how they are using billions of dollars in taxpayer aid.

  • The USDA's 2008-2009 ending stocks estimate for:
    Corn was raised from 1.474 to 1.790 million bushels.
    Soybeans were raised from 205 to 225 million bushels.
    Wheat was increased from 623 to 655 million bushels.
    Sugar was increased from 961,000 to 1,072,000 tons.
    Cotton was dropped from 7.1 to 6.9 million bales.

  • The USDA's 2008-2009 world ending stocks estimate for:
    Corn was increased from 124 to 136 million tons.
    Soybeans were unchanged at 54 million tons.
    Wheat was raised from 147 to 148 million tons.
    Cotton unchanged at 59 million tons.
    The USDA said 42.1 million acres of winter wheat were planted last fall, down 9% YoY

  • Corn fell the exchange limit in Chicago and soybeans and wheat also plummeted on the news.

  • As of December, the USDA said there were:
    10.1 billion bushels of corn stocks, up 2% YoY.
    2.28 billion bushels of soybean stocks, down 4% YoY.
    1.42 billion bushels of wheat stocks, up 26% YoY.

  • The USDA lowered its guess of the Florida orange crop from 165 to 162 million boxes, but increased the projected juice yield from 1.58 to 1.62 gallons per box.

  • Medical officials said the Palestinian death toll in the offensive Israel began 17 days ago had risen past 900 and included at least 380 civilians.

No comments: