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Treasury Plan Buoys Markets

March 24, 2009
By: Roger Bernard, Farm Journal Policy and Washington Editor

Snapshot of news and events for today

Quick links

* Financial markets

* Ag futures

* USDA reports this week

* NWS forecast

* Major media

* Ag media

* Political humorists

Financial markets Major world indicators

Japanese trading...

  • The 225-issue Nikkei Stock Average gained 272.77, or 3.3 percent, to 8,488.30.

  • The dollar was at 98.45 yen from 97.10 late Monday in New York.

Monday's U.S. Markets...

  • The Dow Jones Industrial Average rose 497.48, or 6.8 percent, to 7,775.86 -- its fifth biggest point gain in history. The close was its highest finish since Feb. 13, biggest point gain since Nov. 13 and biggest percentage gain since Oct. 28. The Nasdaq Composite Index rose 98.50, or 6.8 percent, to 1,555.77.
  • The 10-year Treasury note yield rose to 2.68 percent from 2.64 percent late Friday.

  • The dollar was at 97.05 yen from 95.90 yen while the euro was at $1.3649 from $1.3560 late Friday.

Ag futures Yesterday's action and

overnight indicators

What happened the prior trading day...

  • Corn: Futures faded into the close to finish mostly 2 to 3 cents lower and on session lows.
  • Soybeans: Futures opened sharply higher, but trimmed gains to finish 2 to 4 cents higher.

  • Wheat: Futures opened slightly higher on help from outside markets and neighboring pits, but as profit-taking set into the grain markets, wheat turned mixed. Chicago wheat finished marginally lower.
  • Cotton: Futures rallied into the close to finish 95 to 115 points higher for the day.
  • Lean Hogs: Lean hog futures opened mixed, but around midday sharply extended losses. Futures closed $1.10 to $1.50 lower in all but the far-deferred contracts which closed slightly lower.
  • Live Cattle: Live cattle futures closed higher.

Scheduled USDA Reports & Summaries This Week

Agricultural Marketing Service = (A)

Census Bureau = (CB)

Economic Research Service = (E)

Farm Service Agency (FSA)

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