Quick Overview

• The U.S. National Association for Business Economics (NABE) cut projections for U.S. economic growth in 2011 and 2012 to 1.7%t this year, down from its May prediction of 2.8 percent.

• The IMF releases nearly 4 billion Euros of rescue funding to Portugal.

• The USDA estimates the U.S. Corn crop at 12.497 billion bushels and a yield of 148.1 bushels per acre.

• The USDA estimates soybean production at 3.085 billion bushels and a yield of 41.8 bushels per acre.

• Indian industrial production showed tepid growth of 3.3% in July down from 8.8% MoM.