Quick Overview

• The National Association of Realtors index of pending home sales rose 1.0% in December and 10.9% YoY
  

• YoY Producer prices in the EU fell 2.9%
  

• Debt-hit Greece should not be bailed out, one of the founders of Europe's euro currency has warned.
  

• China’s government, seeking to stem property speculation, told banks to raise interest rates on “third” mortgages and demand bigger down payments.
  

• China's Cotton Association estimated that cotton plantings will be down 5% this year.
  

• (Bloomberg) -- Raw sugar prices probably will decline from a 29-year high this year as a “huge increase” in production driven mainly by Brazil may balance the market, according to German research company F.O. Licht.

• Global sugar production will trail demand by 8 million metric tons, more than forecast, F.O. Licht said.
  

• Swiss lawmaker compares Germany's attempts to get hold of data on cross-border tax evaders to bank robbery.
  

• Cement, coal and industrial metals producers across Asia will benefit in coming years from a massive push by India to overhaul its infrastructure, a fund manager at JPMorgan Asset Management said.
  

• Copper prices are set to plunge as speculators unwind positions and global inventories expand, according to David Threlkeld, president of metals trader Resolved Inc.

• Fortis bank estimates the cocoa stock to use ratio at 35% at the end of 2010-11.