Friday, October 08, 2010

Quick Overview

  • The U.S. posted a $1.29 trillion budget deficit for the fiscal year that ended September 30

  • The USDA pegged corn production at 12.664 billion bushels, down from 13.160 billion last months and 147 million bushels below trade estimates. Corn yields were pegged at 155.8 bpa. Corn ending stocks fell to 902 million bu, down from 1.708 million last year .These numbers s represent 57.8 days of supply -- the second tightest in the past 35 years.
  • The USDA pegged wheat stocks at 853 million bushels down from 902 million last month
  • The USAD pegged the soybean crop at 3.408 billion bushels and a yield of 44.4bpa. That's down from 3.483 billion and 44.7bpa last month. Ending stocks are now at 265 million down from 350 million last month.

  • The U.S. economy lost 95,000 nonfarm jobs in September.

  • The Fed faces a difficult decision at next month's policy meeting on whether to offer further stimulus to a U.S. economy that is still growing but only slowly, St. Louis Fed President James Bullard said.

  • Ukraine will limit grain exports for the rest of this year, but needs a few days to clarify.

  • Indonesia, the world’s third-largest rice producer, may have to import 300,000 metric tons of the grain, the first bulk purchase since 2007, to meet an expected shortfall in government supplies, Bulog executives said.

  • (Bloomberg) Las Vegas Strip gambling revenue jumped 21% in August, showing the biggest U.S. casino city is emerging from a record slump.

  • Brazil will harvest 3.2% less sugar cane than previously estimated in the year that began May 1, the U.S. Department of Agriculture said.

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