|Financial markets||Major world indicators|
- The 225-issue Nikkei Stock Average fell 1.9 percent to 11,154.76.
Wednesday's U.S. Markets...
- The Dow Jones Industrial Average ended 19.59 points lower, off 0.2 percent, at 10,831.07. The Nasdaq Composite Index fell 22.48, or 1.07 percent, to 2,069.40.
- The 10-year Treasury note rose 22/32, pushing the yield down to 3.738 percent, compared to 3.831 percent.
- The dollar fell to 106.05 yen, down from 106.35 yen while the euro was at $1.4008, compared to $1.4076 late Tuesday.
|Ag futures||Yesterday's action and |
- Overnight trade: Check the link for updated prices and/or settlements.
What happened yesterday...
- Corn: Futures closed 2 1/2 to 4 1/2 cents lower to do more chart damage.
- Soybeans: Futures retreated from session highs late to close mostly 7 to 8 cents higher and in the middle of today's range.
- Wheat: Futures ended 9 to 10 cents lower in Chicago, mostly 5 to 9 cents lower in Kansas City and mostly 7 to 9 cents lower in Minneapolis.
- Cotton: Futures closed around 100 points higher in all contracts on support from short-covering.
- Lean Hogs: Lean hog futures finished lower in all but the April contract, which was 30 cents higher.
- Live Cattle: Live and feeder cattle futures closed mixed on late-session short-covering after a weaker start.
Agricultural Marketing Service = (A)
|Overview||Other reports affecting agriculture|
|Major media||Links to top news reports |
with potential U.S. ag impact
Wall Street Journal (subscription to site required for access)
- Fed Considers Rate Cut as Recession Fears Mount The paper says the Fed is weighing whether or not to cut interest rates and notes that several economic indicators were flashing negative signs. Futures markets are now pricing in a rate cut of a quarter point by the end of October.
SEC Extends 'Short' Ban as Bailout Advances
All Revved Up With No Place to Borrow
EU Is Divided on Crisis Measures
Obama, McCain, in a Rarity, Cast Votes
McCain Warns of Economic 'Disaster'
Vote Presses Lawmakers at Home
U.S. Auction-Rate Investigation Picks Up Steam
Momentum Gathers to Ease Mark-to-Market Accounting Rule
Euro Zone Unemployment Rises as the Economy Sags
Auto Sales Succumb As Credit Grows Tight
In a Down Market, Many Fund Managers Were Down Even More
Credit-Default Swaps Get Messier
Goldman, Morgan Rewrite Playbooks
- Senate Vote Gives Bailout Plan New Life Passage Gets Boost From Tax Breaks; Back to the House While the Senate voted 74-25 in favor of the modified package, some fear that too many things were added to the bill and that still makes it uncertain it will pass the House. The latter is expected to take up the plan on Friday.
- Farmer Mac Rescued by Lenders Group Injects $65 Million, Lifts Capital Above Minimum Level; CEO Edelman Departs Losses in its investment portfolio prompted a rescue of Farmer Mac and a new temporary CEO. The move comes despite the bank's loans being in decent shape: The delinquency rate on the $9.5 billion in farm and rural loans under Farmer Mac's umbrella is the lowest in its history. Most of the new capital came from the five banks in the Farm Credit System.
- Melamine Discovered in More Milk Products. Fifteen more Chinese dairy companies were found to have produced products that contain the chemical melamine. In the U.S., Connecticut consumer protection commissioner said Wednesday that tests found melamine in White Rabbit Creamy Candy, a product imported from China and found in stores in the state.
New York Times (registration to site required)
- Senate Passes Bailout Plan; House May Vote by Friday The Senate approval of the plan came as the package had provisions added to it, including an increase the deposit insurance and including $150 billion in tax breaks for individuals and businesses. Some House Democrats and Republicans who voted against the initial package indicated changes made in the Senate plan may prompt them to reconsider their positions.
Small Businesses Feeling the Chill
Deposit Plan Will Cost Banks More
Buffett's Bet on G.E.: Almost as Good as a Bailout
36 Hours of Alarm and Action as Crisis Spiraled
Poll Finds Obama Gaining Support and McCain Weakened in Bailout Crisis
Crisis Puts Tax Moves Into Play
SEC Extends Ban on Short-Selling
European Officials Debate Need for a Bailout Package
- More Candy From China, Tainted, Is in U.S. Connecticut removed White Rabbit Creamy Candy, produced in China, from store shelves -- it has already been recalled from stores in Britain and many Asian countries.
- Senate Approves Bailout House to Take Up Bill With Added Tax Breaks, Higher FDIC Limits The plan now includes the extension of an array of tax breaks worth $108 billion to businesses and families next year. It would also temporarily increase the limit on federal insurance for bank deposits to $250,000 from $100,000.
Wind and Solar Tax Credits Could Ride Into Law in Bailout Bill
Europe Beginning to Realize Its Lenders Share in the Blame
Obama, McCain Stand United In Pressing Hard for Rescue
Waiting On Fed To Make A Move
Wary Depositors Take Charge of Accounts
America's Second Chance
|Ag media||Monitoring the countryside|
Omaha World-Herald (Nebraska)
- Midwest economy stagnant in survey The Midwest economy treaded water in September and there's a possibility that it could slip into negative territory. The article highlights other findings of the economic survey of Iowa, Nebraska and other states.
|Laughing with, not at||From political humorists|
David Letterman: "McCain wants the presidential debate postponed until after the big government bailout, you know. Sarah Palin wants the vice presidential debate postponed until after the election. But that's a different deal.”
Conan O'Brien: "Yesterday, President Bush telephoned both John McCain and Barack Obama to discuss the current financial crisis. … Yeah, the entire conversation consisted of Bush yelling ‘suckers,' and hanging up.”
Conan O'Brien: "Because of the financial crisis, John McCain says he may not appear at the presidential debate on Friday. So Ralph Nader has offered to fill in for him. … That's true.” However, "Nader is insisting that McCain work his shift at Kinko's.”