- More than 61 feet of snow has fallen in the 400-mile-long Sierra Nevada mountain range this season, second only to the 1950-51 season when a total of 65 feet fell, according to records kept by the California Department of Transportation.
- China to build cotton reserves to encourage output. The announcement comes as farmers across China are becoming increasingly concerned that cotton prices could tumble from historic highs
- (FT) US farmers, reaping record receipts for crops this year, are also harvesting $10.6bn in government payments.
- Danish unemployment was 4.0% in February, down from a revised figure of 4.1% in January.
- French budget deficit reached 7% of GDP in 2010, pushing up the country's debt-to-GDP ratio to 81.7%. France has said it will cut the deficit to 4.6% of GDP in 2012 and to the agreed EU limit of 3% of GDP by 2013.
- (Bloomberg) -- Essar Group exercised an option to sell a 33 percent stake in Indian joint venture Vodafone Essar Ltd. to partner Vodafone Group Plc (VOD) for $5 billion, Vodafone said.
- (Bloomberg) -- Radiation “far below” levels that pose a risk to humans was found in milk from California and Washington, the first signs Japan’s nuclear accident is affecting U.S. food, state and Obama administration officials said.
- (Bloomberg) -- Coffee, sugar and cocoa prices will rise five- to 10-fold by 2014 because of shortages that will mean consumers getting “swamped” by food inflation, according to Superfund Financial.
- The speculation that an estimated 500,000 to 1 million tons of copper is hidden from the market in China is likely inflated -- so says Commerzbank.
- (Dow Jones) The USDA's lower-than-expected estimate for corn inventories as of March 1 fuels fears that season-end supplies will drop to a record low. Government could slash 50M-75M bushels from the latest season-end supply estimate of 675M in a crop report next week, says Rich Nelson at Allendale. Season-end supplies are already at a 15-year low, representing 18 days worth of corn, he notes.
- New orders for U.S. manufactured goods fell by 0.1% in February
- The Chicago PMI fell to 70.6% in March from 71.2% in February
- First-time U.S. jobless claims drop 6,000 prior week's total revised up to 394,000
- Chinas Purchasing Managers’ Index rose to 53.4 in March from 52.2 in February