|Financial markets||Major world indicators|
- The 225-issue Nikkei Stock Average fell 1.8 percent, or 223.81 points, to close at 12,400.65.
Monday's U.S. Markets...
- The Dow Jones Industrial Average finished 290.43 points higher, or 2.6 percent, to close at 11,510.74. This was the Dow's biggest one-day gain in a month. The Nasdaq Composite Index edged up 0.6 percent, or 13.88 points, to 2,269.76.
- The 2-year Treasury note were up 2/32 to yield 2.289 percent. The benchmark 10-year note was up 16/32 to yield 3.648 percent.
- The dollar traded at 108.08 yen from 107.22 yen, while the euro was at $1.4145, while it was at $1.4233 late Friday.
|Ag futures||Yesterday's action and |
- Overnight trade: Check the link for updated prices and/or settlements.
What happened yesterday...
- Corn: Futures closed narrowly mixed, keeping an eye on outside markets.
- Soybeans: Futures favored a firmer tone through the day, closing 14 1/2 to 16 1/4 cents higher.
- Wheat: Futures closed weaker, pressured by strength in the dollar.
- Cotton: Futures closed weaker, pressured by strength in the dollar.
- Lean Hogs: Lean hog futures closed slightly to moderately lower, extending losses ahead of the closing bell to post a low-range close.
- Live Cattle: Live cattle futures closed steady to firmer amid short-covering, with feeders favoring a firmer tone in mixed trade.
Agricultural Marketing Service = (A)
Broiler Hatchery (N)
World Agricultural Supply and Demand Estimates (W)
|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)
- Mortgage Bailout Is Greeted With Relief, Fresh Questions The bailout of Freddie Mac and Fannie Mae bolstered U.S. financial markets on Monday but it also spurred additional concerns and questions about the health of the U.S. economy. The article also revealed that foreign officials had been "bombarding" U.S. officials for more details on the health of the two mortgage agencies.
Rescue Risks Setting Stage For New Woes
Bailout Hits U.S. Agenda
Mortgage Titans' Future Thrust Into Partisan Debate
Home-Loan Banks Draw Focus Amid Rescue Plan
Holders Have Little Chance to Win Relief
U.S. Plan Serves as Template For China to Bolster Its Markets
Fannie Mae's Patron Saint Editorial.
We'll Protect Taxpayers From More Bailouts Op-ed item by Republican presidential nominee John McCain and vice presidential nominee Sara Palin.
- Survey of Hedge Funds Finds 35% Lost Assets A survey of the largest hedge-fund firms showed 35% of them lost assets in the first six months of the year. The decline is the second time hedge funds lost investors' money in the first half of a year since Hedge Fund Research started gathering data on the industry in 1990.
New York Times (registration to site required)
- Mortgage Giants' Future: A Rebuild or a Teardown? Now that the government has stepped in and taken over Fannie Mae and Freddie Mac, the focus has shifted to the future of the mortgage guarantee firms. Three camps are emerging: Those who want the two as a government entity, those who want them to stay as they are and those who want to do away with them completely.
Rescue of Mortgage Giants Displays Paulson's Clout
Stocks Soar on Takeover Plan
Who Else Can Pile On for a Federal Rescue?
The Bailout's Big Lessons Editorial.
- Administration Decided in Late August That Takeover Was Needed The report says President Bush was advised of the need to bailout Fannie Mae and Freddie Mac in late August, dashing hopes that the two mortgage giants would be able to weather the housing downturn.
Market Welcomes Takeover
Asia Breathes Deep Sigh of Relief
As Rates Dip, Calls to Banks Pick Up
Ousted Fannie, Freddie CEOs Could Still See Big Paydays
Mr. Paulson's Bailout Editorial
|Ag media||Monitoring the countryside|
Fargo Forum (North Dakota)
- Farmers Union group lobbying in Washington Some North Dakotans are among those taking part in the National Farmers Union fly-in lobbying effort in Washington.
Omaha World-Herald (Nebraska)
- Nebraska governor to declare September 'Renewable Fuels Month' The state's governor will make the declaration as part of Husker Harvest Days.
Des Moines Register (Iowa)
- Biofuels' future unsettled: Technology will enable higher yields from corn, but other concerns remain Competition in the seed industry will help make predictions that corn yields can double in 20 years a reality, thus providing plenty of corn for the production of food and biofuels, according to an official with Monsanto.
|Laughing with, not at||From political humorists|
Jay Leno: "As you know, several times, McCain talked about serving his country in Vietnam, which is a nice change after 16 years and two presidents who could never quite explain how they got out of serving their country in Vietnam."
Jay Leno: "Actually," some "Republicans are not that thrilled with the speech. In fact, the rumor is Sarah Palin is thinking of dropping him from the ticket."
Jay Leno: "You know, when Governor Palin was giving her speech the other night," the "teleprompter broke and she had to keep going from memory." That "happened to Joe Biden once," but "with him, he talked so long, the teleprompter" shot "itself."
Jay Leno: "Well, here's a little known fact from the Republican convention. This is kind of interesting. You know the confetti they dropped at the end?" That "was made from the actual Constitution of the United States."
Conan O'Brien: "During John McCain's speech last night, an anti-Republican heckler began yelling at him. Yeah. Officials removed the man and immediately gave him a job at MSNBC."