Next Update April 13

Most everything should be up to date by late Friday

QUICK OVERVIEW

• U.S. business inventories rose 0.4 % in January 
• U.S. federal government runs 193.5 bln USD deficit in February 
• U.S. initial jobless claims drop to three-month low

• Eurozone to saty becalmed: The current rates of inflation, unemployment and the rate of growth in the Eurozone look set to prevail for the next couple of years –economists. 

• Growth in China's retail sales slowed to 11.8% YoY in the first two months of the year 

• USDA estimates world soybean stocks at 70.64 mmt vs trade expectations of 71.46 and 73.01mmt previous month. 
• USDA puts soybean stocks at 145 mln bu vs trade expecting of 141 and 150 previous month.
•  USDA estimates World corn stocks at 158.47 mmt vs trade expectations of 156.27 and 157.3 mmt last month. 
• USDA has corn ending stocks at 1.456 billion bus vs trade expecting 1.488 bln; 1.481 last month 

• (Telegraph) Japan's first new geothermal power plant in 15 years to open next month: A new chapter in Japan's energy industry begins when a new geothermal power plant taps into the nation's famed seismic activity - opening the floodgates for dozens of similar projects across the country. 

• General Motors said that it had received reports of a safety defect in its cars as early as 2001 — three years earlier than previously disclosed. 

• Qualcomm announced a $5 billion increase to its share repurchase plan and a 20% dividend boost. 

• (Reuters) - The richest Americans are increasing their ranks and putting the recession of 2008 and 2009 behind them, according to an annual study by the Chicago-based Spectrem Group. Total millionaire households in the United States jumped to more than 9.6 million according to Spectrem, an increase of more than 600,000 over the previous year. That is the highest level since the research group started measuring in 2004.Those who have more than $5 million grew to 1.24 million. The 2014 Affluent Market Insights Report aggregates monthly surveys by Spectrem that reach more than 12,000 investors in total. The richest of these rich, or ultra-rich, who have more than $25 million in investable assets (not including a primary residence), increased by 57 percent through the end of 2013, and now number 132,000, up from 84,000 in 2008. 
• (Bloomberg) More than three-quarters of Americans say the bull market has had little or no effect on their financial well-being, according to a Bloomberg National Poll. Seventy-seven percent of respondents dismissed the S&P 500’s gains since the financial crisis, according to the poll, taken March 7-10. Barely one in five -- 21 percent -- said the market’s gains have made them “feel more financially” secure. 

• Buffett’s Berkshire urged shareholders to vote “against” a proposal that it set goals for its energy businesses to reduce greenhouse gas and other emissions. Similar proposals failed in 2011 and 2013.

QUICK OVERVIEW

• (Bloomberg) The London gold fix, the benchmark used by miners, jewelers and central banks to value the metal, may have been manipulated for a decade by the banks setting it, researchers say. 

• YoY Australia’s Gold production rose 18 metric tons to 273 tons in 2013, the highest annual output since 2003, Melbourne-based Surbiton said. 

• Lower Sugar output in Brazil and India, the second-biggest producer, may spur the first global deficit in five years, F.O. Licht said. 
• Macquarie estimates Sugar production costs in Asia Pacific, Australia and South Africa at 16 cents a pound or more; in Thailand and Central America at at least 18 cents a pound; in Brazil at 17-19 cents a pound; and in the European Union and India at 20-22 cents a pound.

• Eurozone inflation stable at 0.8% in February 

• Eurozone unemployment rate at 12 % in Jan. 
• Eurozone economy grew 0.3 % in Q4

• India's economic growth slows to 4.7% in Q4 
• India’s inflation in Jan. fell to 5% 
• The Indian state of Rajasthan has barred foreign direct investment in supermarkets 
• India plans to withdraw from talks with Vodafone Group Plc to resolve a nearly $2 billion tax dispute. 
• Finnish handset major Nokia warned that its Chennai (India) factory may shut down unless a Rs 21,153 core tax issue is resolved.

• Italy's unemployment rate rose to 12.9% 
• Italy's economy grew by 0.1% in Q4 

• The preliminary reading of the U.S. consumer sentiment index in February held steady at 81.2 
• U.S. industrial production fell 0.3% in January the first decline since July 2013 due to severe weather. 
• Chicago PMI unexpectedly accelerates in February to 59.8 

• Japan's unemployment rate stands at 3.7% in January 
•  Japan's consumer prices rose 1.3 % in January   

• British construction output rose 1.3% in 2013 

• January inflation rose by 0.2 % in Spain 

• Australia's unemployment rate rose to 6.0 % in Jan.

• China's inflation rose 2.5 % in January 
•  China's January PPI fell 1.6% 

• Global soybean ending stocks rose to 73.01 mmt, up from 72.33 mmt in January and above trade expectations of 72.67 mmt 
• Global corn stocks fell to 157.30 mmt, down from 160.23 last month and trade expectations of 159.60 mmt 

• Warren Buffett's Berkshire Hathaway Inc added to his stake in financial giant Goldman Sachs.

•  Kimberly-Clark Corporation (KMB) raised its Quarterly dividend 3.7% to $.84 per share, up from $.81 per share in 2013. This is the 42nd consecutive year Kimberly-Clark has raised its dividend and the 80th straight year the company has paid dividends.