Quick Overview

• The IGC cut by 5m tonnes, to 824m tonnes, its forecast for the global corn harvest in 2010-11.The IGC raised by 4m tonnes to 12m tonnes its forecast for the shortfall in corn production.
• The IGC raised by 1m tonnes, to 13m tonnes, its estimate of the shortfall in wheat production.

• YoY Colombia’s economy grew 4.5% in Q2

• EU consumer confidence in the 27-nation bloc stood at minus 11.8 in September, lower than minus 11.2 in August.

• U.S. sales of existing single-family homes and condos rose 7.6% in August to 4.13 million, the National Association of Realtors reported Thursday.

• The U.S. Conference Board said its leading economic index -- a composite gauge of ten indicators including weekly jobless claims, stock prices and the money supply -- rose 0.3% in August, after a 0.1% increase in July.

• Weekly U.S. jobless claims rose 12,000 to 465,000

• McDonald's boosts quarterly dividend by 11%

• India’s farm minister came out against the government’s proposed limits on cotton exports.

• (Bloomberg) -- Commodities have a “constructive” outlook, with supply constraints set to become a more dominant theme in the fourth quarter, Barclays Capital said. Demand for coal, aluminum, coffee, copper, crude oil, corn, sugar and soybeans probably will climb to a record this year, analyst Kevin Norrish said.