Quick Overview

• The U.S. Department of Agriculture lowered its projection for the U.S. corn end of year supplies 70 million bushels to 675 million = BULLISH 18.2-day supply.
• The USDA estimated world corn ending stocks at 122.51 million metric tons, down from 127 million reported in January = a 37-year low
• USDA projected 2010-11 soybean ending stocks of 140 million bushels, unchanged from the January estimate.

• USDA U.S. Carryout
• Soybeans 0.140
• Corn 0.675
• Wheat 0.818
• Cotton 1.90
• Rice 52.8

• USDA World Carryover
• Wheat 177.8
• Corn 122.5   = 54.3-day supply, tightest in the last 37 years
• Soybeans 58.2
• Cotton 42.8
• Rice 93.9

• The USDA cut by 1% to 8.70m tonnes its forecast for the US orange crop.  Juce yield was cut 2% to 1.57 gallons per box

• Coke said it earned $5.77 billion, or $2.46 a share, up from $1.54 billion, or 66 cents a share, in the same quarter of 2009.

• Corporate insiders continue to sell  more of their companies' shares than they purchase.

• Disney said it earned $1.33 billion, or 68 cents a share, in the period ended Dec. 31, compared with a profit of $844 million, or 44 cents, in the same quarter a year earlier.

• (Bloomberg) -- Deutsche Boerse AG is in advanced talks to buy NYSE Euronext

• (Blomberg) -- At least two members of the Federal Open Market Committee may vote against extending a stimulus program if the pace of U.S. economic growth climbs, according to Pacific Investment Management Co.’s Anthony Crescenzi.