H1N1 Flu Virus & Chrysler Bankruptcy Top News Flow

April 30, 2009 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 rose 149.11 points, or 1.7 percent, to 8,977.37 -- its highest close in nearly four months.

  • The dollar was at 99.34 yen from 98.85 yen late Thursday in New York.

Thursday's U.S. Markets...

  • The Dow Jones Industrial Average fell 17.61, or 0.2 percent, to 8,168.12 Thursday -- still up 7.4 percent for April but down 42 percent from its Oct. 2007 peak. The Nasdaq Composite Index rose 5.36, or 0.3 percent, to 1,717.30.  using traditional agricultural land to grow bioenergy crops instead could contribute between 13-52 per cent of the EU's 20 per cent GHG reduction target.
  • The 10-year Treasury note yield rose to 3.124 percent from 3.096 percent Wednesday.

  • The dollar was at 98.62 yen, up from 97.48 yen late Tuesday, while the euro was at $1.3230, off from $1.3250.

Ag futures Yesterday's action and
overnight indicators

What happened the prior trading day...


  • Corn: Futures favored gains through the day, but saw a choppy day of trade. Futures closed marginally to 3 1/4 cents higher.
  • Soybeans: Futures extended early gains to further improve the near-term technical makeup of the market.

  • Wheat: Futures saw a choppy day of trade, but generally favored gains. Chicago wheat closed 3 to 5 cents higher, with Kansas City up 3 to 6 cents and Minneapolis up 2 to 5 cents.
  • Cotton: Futures closed 65 to 101 points higher, finding spillover from strength in the soybean pit.
  • Lean Hogs: Lean hog futures closed lower in all but the December contract, which closed 70 cents higher.
  • Live Cattle: Live and feeder cattle futures closed slightly lower in all but the front-month contracts, which expired firmer.

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

April 27

Grain Inspections (A)
Poultry Slaughter (N)
Crop Progress (N)

28

Weather - Crop Summary (N)
U.S. and Canadian Hogs (N)

29

Broiler Hatchery (N)

30

U.S. Export Sales (F)
Agricultural Prices
(N)
Egg Products (N)
Peanut Stocks and Processing (N)
Grain Stocks Historical Track Records (N)
Crop Production Historical Track Records (N)

May 1

Dairy Products Prices (N)
Peanut Prices
(N)
Commodity Costs and Returns Data (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)

  • Chrysler Pushed Into Fiat's Arms Italian Car Maker, UAW Main Owners; Obama Pledges Brief Stay in Bankruptcy; Creditors Take Hit Chrysler's Chapter 11 filing would be the sixth-largest ever and envisions a partnership between Fiat and the United Auto Workers union.
    Related item:
    Slump, Debt Dashed Bid to Turn Around a U.S. Icon
    U.S. Tactics Spark Worries Over Lenders' Rights
    Chrysler Bankruptcy Judge Handled Enron, WorldCom

  • Germ Sleuths Stalk Origin of Killer Flu The item looks at how things unfolded last week relative to cases of the flu virus that was first found in Mexico. The latest virus, now dubbed A/H1N1, is an unusual hybrid of pig, bird and human flu bugs.
    Related item:
    Virus Keeps Spreading, but Alert Stays at Phase 5
    In California, Cases Suggest Border Origin
    Deadlier Strain Would Overwhelm Health Systems
    Biden's Remarks Derail President's Temperate Message

  • Justice Souter to Retire From Court Souter was appointed to the court in 1990 and has been viewed as being one of the more liberal members of the panel. The situation sets up potential for the first Supreme Court nomination by President Obama, and most of the potential names floated in the article are women.
  • Japan Braces for Protracted Stretch of Deflation Tokyo Forecasts Two Years of Declining Consumer Prices; U.S., EU and China Also Feel Effects of Lower Food and Energy Costs. The Bank of Japan on Thursday forecast declining prices for the next two fiscal years, and declining prices can lead consumers to further cut back their spending.
  • Kellogg Profit Edges Higher, With Help From Cereal Sales The company reported higher North American sales, helped by their cereal business, but noted a downturn in peanut butter related products.

New York Times (registration to site required)

Washington Post

Ag media Monitoring the countryside

Fargo Forum (North Dakota)

  • Planting starts late in region Delays likely to hurt yields, profit margins The wet and cool condition in the region have farmers sitting and waiting instead of being in the fields putting crops in the ground or getting fields ready.

Wichita Eagle (Kansas)

Des Moines Register (Iowa)

Laughing with, not at From political humorists

David Letterman: "President Obama is celebrating his first 100 days in office. ... This guy has really had quite a lot to deal with. I mean, let's take a look at the list: recession, two wars, swine flu, runaway Air Force One. Crazy."

David Letterman: "President Obama's approval rating is 68%. Well, that was before he decided to attack New York."


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