- MoM U.S. home foreclosures rose nearly 4% in July to a total of 325,229, marking the 17th consecutive month with a foreclosure activity total exceeding 300,000, according to RealtyTrac.
- Pro Farmer Midwest Crop Tour said it pegged the 2010-11 U.S. crops at 3.5 billion bushels, above USDA's August estimate of 3.4 billion.
- Statistics Canada exceeded expectations by estimating the 2010-11 all-wheat crops at 22.7 million tons.
- Rain is expected in Russia’s northern crop areas during the next 10 days.
- Russia, hit by a record drought that has destroyed a quarter of its crops, has no plans to import grains this year, the agriculture ministry said Friday. On Thursday, the Vedomosti daily, citing a source close to the top of the agriculture ministry, said Russia could import at least five million tons of grain, mainly from Kazakhstan..
- Brokers said 15 ships were chartered to export mainly grains cargoes from the U.S. Gulf in recent days, rising from a four-week average of seven vessels.
- Singapore’s minister for Finance and Transport Lim Hwee Hua said on Friday this is the first time that Asia has led a global recovery, and the turnaround in the region is more entrenched, and has progressed further than that of the advanced economies.
- Thailand's Prime Minister Friday said he is confident the export sector would help lift GDP growth in 2010 to at least 7% YoY.
- (FT)The US Department of Agriculture on Thursday relaxed regulations on sugar import quotas, citing “increased tightness in the US raw sugar market”. The government agency predicts US sugar inventories will next year fall to the lowest in at least 40 years while the International Sugar Organisation expects this year to see the lowest global stocks of the sweetener in 20 years.
- The U.S. federal budget deficit will surpass $1.3 trillion in 2010 and is expected to be the second largest shortfall in the past 65 years, the Congressional Budget Office estimated Thursday.
- (Business News Americas) South American crude steel production totaled 21.3Mt in the first half, an increase of 33.2% year-on-year, according to the latest figures from the World Steel Association. Production in June jumped 34.4% to 3.71Mt from 2.76Mt in the same month of 2009, the association said. Brazil, Latin America's largest crude steel producer, increased output 55% to 16.4Mt in H1, and 46.8% to 2.85Mt in June. North American production - which includes Mexico, Central America, Cuba and Trinidad & Tobago - rose 60.1% to 56.6Mt in the first half, while it showed a 55.2% increase to 9.87Mt in June. Global output soared 27.9% to 706Mt in H1 and 18% to 119Mt in June. China, the world's largest producer, increased output 21.1% to 323Mt in the first half and 9% to 53.8Mt in June. The capacity utilization ratio of the 66 countries reporting to worldsteel declined to 80.6% in June from 82% in May, but registered an increase of 8.3 percentage points compared to June 2009.
- Hangzhou Iron & Steel Co., a major Chinese steelmaker, said Saturday its net profit in the first half of the year surged 596.33 % YoY
- Brokers said that capesize ship chartering activity had been driven by Chinese iron ore imports from Australia and Brazil after Karnataka, India's second-largest ore producing state, banned exports from 10 of its ports last month.
- Daily consumption of oil in the U.S. declined 5% to 18.7 million barrels over a 10–year period ending in 2009, according to the U.S. Energy Information Administration. By contrast, China's daily oil consumption increased 73% to 8.2 million barrels over the same period.
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