- U.S. personal consumption rose 0.5% in August, while personal income rose 0.1%.
- Consumption accounts for about 70% of U.S. overall economic activities.
- U.S. savings rate, or personal savings as a percentage of disposable personal income, edged down to 3.7 percent from 4.1 percent in July.
- U.S Consumer sentiment rose to 78.3 -- highest level in 4 months
- U.S. GDP grew at an annual rate of 1.3%, down from its previous estimate of 1.7%
- Christophe de Margerie, Totals CEO, says the risk of drilling in the arctic are simply too high.
- U.S. August new home sales fell 0.3% to 73,000 annual rate.
- The S&P/Case-Shiller index of property values in 20 cities increased 1.2 percent from July 2011, the biggest 12-month advance since August 2010, a report from the group showed today in New York. The median forecast of 23 economists surveyed by Bloomberg called for a 1.1 percent gain.
- (FARM FUTURES) Russia has suspended the import of Monsanto genetically modified (GMO) corn, due to a study done by a university in France that claims the corn causes cancer.
- Many scientists and nutritionists are skeptic over the results of the study.
- Agriculture is the direct driver of roughly 80 percent of tropical deforestation, while logging is the biggest single driver of forest degradation, says a new report funded by the British and Norwegian governments.
- (Reuters) - Hog producer Prestage Farms Inc and two other livestock companies in North Carolina have signed deals to import 750,000 metric tons (826733.48 tons) of corn from Brazil.
- Rabobank has revised upwards its projected sugar surplus for 2012/13 from 4.6 mln mt to 5.2 mln mt
Reuters -
- Brazil and the US are working together to promote the use of ethanol in a collaboration that could revolutionize global markets.
- Brazil to raise ethanol blend to 25% in 2013.
- Oil World thinks the US bean harvest will not be large enough to meet global demand until to the new South America harvest in early 2013. They say, it is possible in theory, the US will become a major importer of soybeans and soy meal from April 2013.
- Yum approved an 18% increase in dividends.
- McDonald's (MCD) increased its quarterly dividend by 10%
- The Dow transports, as everyone who is paying attention already knows, are seriously lagging the Dow industrials.
- (Spiegel) Most in Germany agree that former Chancellor Helmut Kohl was a primary advocate of European unity. This week, as the country celebrates the 30th anniversary of his first election to the Chancellery, the father of German reunification urged his fellow conservatives to fight for the common currency he helped introduce.
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