Quick Overview

• Japan's consumer confidence improved from 26.2 to 26.4
  

• Australia’s business confidence fell from -20 to -32
  

• The USDA estimates U.S. 2008-2009 ending stocks of:
  Corn unchanged at 1.790 billion bushels.
  Soybeans lowered from 225 to 210 million bushels.
  Wheat unchanged at 655 million bushels.
  Sugar was reduced from 1.072 to 1.066 million tons.
  Cotton was raised from 6.90 to 7.70 million bales.
  

• The USDA estimates 2008-2009 ending stocks of:
  Corn was raised from 136 to 137 million tons.
  Soybeans were reduced from 54 to 50 million tons.
  Wheat was raised from 148 to 150 million tons.
  Cotton was raised from 59 to 62 million tons.
  
  

• The USDA lowered 2009 beef production estimate from 26.54 to 26.11 million pounds
  

• The USDA reduced its estimate of pork production from 23.035 to 22.980 million pounds
  

• The USDA lowered its estimate of the 2008-2009 Florida orange crop from 162 to 158 million boxes and juice yield from 1.62 to 1.61 gallons per box.