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Asian Markets Decline

October 27, 2008
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 shed 486.18 points, or 6.4 percent, to close at 7,162.90 -- its lowest close since October 1982.

  • The dollar bought 93 yen in Japanese trading.

Friday's U.S. Markets...

  • The Dow Jones Industrial Average fell 312.30, or 3.59 percent, to 8,378.95 -- its lowest close since April 25, 2003, and off 5.35 percent for the week. The Nasdaq Composite Index fell 51.88, or 3.23 percent, to 1,552.03 -- down 9.31 percent for the week.
  • The 10-year Treasury note lost 1 11/32 points, or $13.4375 for every $1,000 invested, to yield 3.697 percent. The two-year note's yield rose to 1.55 percent, just above the federal-funds target rate of 1.5 percent. 

  • The dollar was at 94.60 yen from 96.98 yen, while the euro was at $1.2585 from $1.2901 late Thursday.

Ag futures Previous day's action and

overnight indicators

What happened the prior trading session...

  • Corn: Futures closed mostly 16 to 17 cents lower.
  • Soybeans: Futures continued to face pressure from growing economic worries.

  • Wheat: Futures finished mostly around 6 to 8 cents lower at all three exchanges.
  • Cotton: Futures posted very sharp losses Friday to extend the recent price plunge.
  • Lean Hogs: Lean hog futures saw a choppy week of price action in which futures posted slight overall gains for the week.
  • Live Cattle: Live cattle futures plunged to new contract lows Friday to close with very sharp losses for the week.

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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