Fannie & Freddie Bailout Still Dominates News

September 8, 2008 07:00 PM
 
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 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 indicators

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.

Scheduled USDA Reports & Summaries This Week

Agricultural Marketing Service = (A)
Census Bureau = (CB)
Economic Research Service = (E)

Farm Service Agency (FSA)

Foreign Ag Service = (F)

National Agricultural Statistics Service = (N)

World Agricultural Outlook Board = (W)

Monday

Tuesday

Wednesday

Thursday

Friday

Sept. 8

Grain Inspections (A)
Crop Progress (N)

 

9

Weather - Crop Summary (N)

10

Broiler Hatchery (N)

11

U.S. Export Sales (F)
Latest U.S. Agricultural Trade Data (E)

12

World Agricultural Supply and Demand Estimates (W)
Crop Production (N)
Cotton Ginnings (N)
Dairy Products Prices (N)
Cotton: World Markets and Trade (F)
Grains: World Markets and Trade (F)
World Agricultural Production (F)
Oilseeds: World Markets and Trade (F)
Livestock and Meat Trade Data (E)
Tropical Products: World Markets and Trade (F)
Turkey Hatchery
(N)
Peanut Prices (N)
U.S. Agricultural Trade Data Update (E)
Season-Average Price Forecasts(E)


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.
    Related items:
    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)

Washington Post

Ag media Monitoring the countryside

Fargo Forum (North Dakota)

Omaha World-Herald (Nebraska)

Des Moines Register (Iowa)

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."


Back to news

Comments

 
Spell Check

No comments have been posted to this News Article

Corn College TV Education Series

2014_Team_Shot_with_Logo

Get nearly 8 hours of educational video with Farm Journal's top agronomists. Produced in the field and neatly organized by topic, from spring prep to post-harvest. Order now!

Markets

Market Data provided by QTInfo.com
Brought to you by Beyer
Close