QUICK OVERVIEW

• Purchases of new U.S. homes fell 13.4 % in July, the most in more than three year.

• Consumer confidence in both the euro area and the European Union (EU) rose in August, from minus 17.4 in July to minus 15.6.

• German economy expanded by 0.7% in Q2 of 2013 compared with the previous.

• QoQ Britain's GDP rose by 0.7 % Eurozone PMI rises to 51.7 in August

• Soybeans are focused on current weather forecasts (dry) and the perceptions that US production potential is sliding. More upside potential exists, but it is based on weather development.

• On 8/12/13 Kochi Japan hit 41C (105.8F). That's the hottest temperature ever recorded in Japan.

• India’s July exports rose 11.6% YoY

• The Singapore-based Cocoa Association of Asia said that processing rose 2% to 153,792 metric YoY. Analysts and traders expected a decrease.
• The European Cocoa Association said on July 15 that grindings rose 6.1% in Q2. Cocoa Demand will exceed output by 119,000 metric tons in the 12 months starting in October, the first shortage in four years, according to Macquarie Group. However, hedge fund bets on higher prices are near a five-year high..

• The World Gold Council sees Q2 Global gold demand at 856.3 tons - down 12% YoY to a 4-year low on liquidation from gold ETFs.

• (Spiegel) Most in Britain seem unconcerned about the mass surveillance carried out by its intelligence agency GCHQ. Even the intimidation tactics being used on the Guardian this week have caused little soul-searching. The reason is simple: Britons blindly and uncritically trust their secret service.