- The Total U.S. Cow inventory of 39.7 million and beef cow count of 30.5 million are both the smallest ever for the July inventory report, which started in 1973. Te sharp rise in feed prices is negative short term for cattle. The herd liquidation should however be bullish in future month. Keep an eye on the charts!
- Regarding corn and beans Arlan Suderman says, “I still don't think the trade fully grasps the significance of this year's losses, but I'm seeing a few signs that it is beginning to realize that we're dealing with something significant this time. The bottom line is the market can't fully deal with the rationing job at hand until it accepts the fact that this year's drought is a really big deal of historical significance”.
- Corn and bean prices have hit new highs - as the drought persists.
- Slow monsoon threatens India crops..
- China has released a plan for the development of its new strategic industries from now to the end of 2015, according to a latest statement released by the State Council. The seven new strategic industries include energy conservation and environment protection, new information technology, biology, high-end equipment manufacturing, new materials, new energy and new-energy cars, according to the plan. The seven industries will maintain an average growth rate of more than 20 percent during the 2011-2015 period, the plan said.
- Spain said it’s economy would shrink by 0.5% in 2013 instead of growing 0.5%.
- The yield on Spain’s bonds topped 7%.
- U.S. retail sales fell 0.5% in June.
- California’s Public Employees Retirement System managed to achieve a 1% return on its money - a bit less than the 7.5% target.
- U.S. June housing starts hit a 760,000 annual rate -- highest level since October 2008.
- The Reykjavík District Court has ruled that Valitor, formerly known as VISA Iceland, violated contract laws by blocking credit card donations to Wikileaks, according to a press release posted on the whistleblowers' Twitter account.
- Cameron doesn't 'see a time' when the government's austerity program will end and is poised to extend public spending cuts until 2020
- Crude oil stocks decreased 0.8 million barrels
Gasoline stocks decreased 1.8 million barrels
- Distillate stocks increased 2.6 million barrels
- Ethanol stocks rose to 19.6 million barrels
- EBay’s net income rose to $692 million (53 cents per share) vs. $283.4 million (22 cents per share). This is a more than a twofold rise YoY. Revenue rose 23.1% to $3.4 billion YoY.
- YUM revenue rose 12% -- same-store sales were up 10% in China.
- Confcommercio said that Italy's fiscal burden has reached on average 55% of taxpayer’s incomes this year, ranking first in the world followed by Denmark (48.6 percent), France (48.2 percent) and Sweden (48 percent). Italy not only ranks above the European average, but also is much higher than Japan (30.6 percent) and the United States (26.3 percent), the report also noted.
No comments:
Post a Comment