North Korea Nuke Test Riles World

May 25, 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 fell 36.19 points, or 0.4 percent, to 9,310.81.

  • The dollar was at 94.79 yen from 94.84 yen.

Friday's U.S. Markets...

  • U.S. Markets were closed Monday for the holiday.
  • The Dow Jones Industrial Average ell 14.81, or 0.2 percent, to 8,277.32. The Nasdaq Composite Index lost 3.24, or 0.2%, to 1,692.01. For the week the Dow was up 0.10 percent and the Nasdaq rose 0.71 percent.
  • The 10-year Treasury note yield rose to 3.46 percent from 3.37 percent late Thursday.

  • The dollar was at 94.81 yen. up from 94.30 yen late Thursday while the euro was at $1.4004, from $1.3905, the dollar's lowest level since Dec. 30, 2008.

Ag futures Yesterday's action and
overnight indicators

What happened the prior trading day...

  • Corn: Futures closed off daily highs, but still posted solid gains amid weather concerns and help from outside markets.
  • Soybeans: Futures July and August soybean futures finished lower, while new-crop futures closed higher. For the week, soybean futures extended the strong price rally.

  • Wheat: Futures posted gains in the teens Friday and solid advances for the week.
  • Cotton: Futures were choppy last week following the prior Friday's sharp decline.
  • Lean Hogs: Lean hog futures posted corrective gains ahead of the long holiday weekend.
  • Live Cattle: Solid gains to finish the week (in all but June which closed steady) resulted in weekly gains for live cattle futures.

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)






May 25



Grain Inspections (A)
Poultry Slaughter (N)
Monthly Milk Cost of Production (E)

Crop Progress (N)


Weather - Crop Summary (N)
Broiler Hatchery (N)


Dairy Products Prices - Annual (N)
Peanut Stocks and Processing (N)
Dairy Products - Ann. (N)
Outlook for U.S. Agricultural Trade (F)
Sugar and Sweeteners Outlook (E)


U.S. Export Sales (F)
Dairy Products Prices (N)
Agricultural Prices (N)
Milk Disposition and Income Final Estimates 2003-2007 (N)
Poultry Production and Value Final Estimates 2003-2007 (N)
Poultry - Production and Value (N)
Milk - PDI (N)
Meat Animals Production, Disposition, and Income Final Estimates 2003-2007 (N)
Egg Products Meat Animals - PDI(N)
Fruit and Tree Nuts Outlook(E)
Peanut Prices

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)

  • Korean Blast Draws Outrage U.N. Security Council Quickly Condemns Declared Nuclear Test by Pyongyang The UN Security Council met Monday and condemned the North Korean action, calling on the country to live up to terms of of a Security Council resolution on the matter. President Obama called for a "coordinated" international response to the development.
    Related items:
    North's Test Rattles South Koreans Mourning Roh
    Korea's Obama Test
  • CEOs Urge Clarity In Emissions Pact Leaders of a host of countries gathered in Copenhagen for a summit on climate issues and were warned that those seeking to thwart shifts on greenhouse gas emissions were out of step with the rest of the world. Business leaders also called for specific and definitive targets to be established in order for them to make decisions and investments to meet such goals.
  • Obama Aims to Sway Midterm Elections The article assesses the potential scenarios that could play out in next year's midterm elections and notes the White House is seeking to maintain Democratic majorities in Congress and hopefully build on those. In the Senate, the item notes Republicans have more seats considered "competitive" in the 2010 balloting.
  • Farmers Across Europe Protest Low Milk Prices Dairy farmers have seen their prices drop by 50% in the past year and they are at times forced to sell milk at less than the cost of production. EU farm ministers are meeting to see what kind of response they should take to the situation.

New York Times (registration to site required)

Washington Post

Laughing with, not at From political humorists

Jay Leno: "Happy Memorial Day, everybody. ... As you know, the banks were all closed today. And tomorrow, surprisingly, some of them may actually reopen."

Jay Leno: "I can't believe...Dick Cheney keeps giving speech. He's appearing on TV news shows. It's like he thinks he is still president, you know?"

Jimmy Fallon: "Have you heard about North Korea? They've detonated an underground nuclear weapon today, so I guess they'll be ready if they're ever attacked by gophers."

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