Snapshot of news and events for today
||Major world indicators
- The 225-issue Nikkei Stock Average rose 110.49 points, or 1.5 percent, to 7,568.42
- The dollar was at 97.36 yen from 98.27 yen.
Thursday's U.S. Markets...
- The Dow Jones Industrial Average fell 88.81, or 1.2 percent, to 7,182.08. The Nasdaq Composite Index fell 33.96, or 2.4 percent, to 1,391.47.
- The 10-year Treasury note yield rose to 3 percent from 2.93 percent late Wednesday.
- The dollar was at 98.35 yen from 97.54 yen, while the euro was at $1.2739 from $1.2713 late Wednesday.
||Yesterday's action and
What happened the prior trading day...
- Corn: Futures saw a two-sided day of trade, finishing mostly around a penny lower and near session lows.
- Soybeans: Futures futures posted a highly choppy day of trade, finishing near session lows. Nearbys closed 8 to 11 cents lower, with deferreds mixed.
- Wheat: Futures saw a choppy day of trade, but finished lower on spillover from neighboring corn and soybean pits.
- Cotton: Futures posted slight to moderate gains, supported by outside markets.
- Lean Hogs: Lean hog futures saw a choppy day of trade, finishing 5 to 27 cents lower.
- Live Cattle: Live cattle futures remained in positive territory through the day, with live cattle posting a mid-range close and feeders posting a high-range close.
||Other reports affecting agriculture
||Links to top news reports
with potential U.S. ag impact
Wall Street Journal (subscription to site required for access)
- Obama Budget Pushes Sweeping Change $3.6 Trillion Plan Would Raise Taxes Sharply on the Affluent, Open Battles on Health, Education; The 'Trickle Up' Agenda The Obama budget plan shifts dramatically from prior budget plans and targets more affluent taxpayers and includes a start toward a national health insurance plan. eliminating cotton storage payments, estimated to save $570 million over 10 years and $279 million over five years; -- cutting the subsidy to farmers and insurers for crop insurance via a fee increase (savings would begin in 2011 and total $2.1 billion over five years, $5.2 billion over 10 years
Government Sets 'Placeholder' for More Bank Losses
Business Braces for a Big Hit
The Wealthy Lose Out as Many Others Gain
Carbon Trading to Raise Consumer Energy Prices
Mortgage Deduction Looks Less Sacred
Blueprint Finds Support, Unease on Capitol Hill
Rosy Assumptions Hold Down Deficit
U.S. Would Take Over Federal Student Loans
The Obama Revolution Editorial
An Inconvenient Tax Editorial
- UK, U.S. Expand Bank Rescue Bids An agreement between the government and Citibank is expected to be announced today that would keep the bank afloat, while Europe was close to a deal to keep the Royal Bank of Scotland in business as well.
Red Ink Clouds Role of Fannie, Freddie
Regulators Missed Woes at IndyMac
Data Signal Deepening Recession
- Safeway Says It Will Push Its Labels If Brands Fail to Cut Prices for Foods If food makers don't start reducing prices on their products, grocery firm Safeway says it will start pushing its own store brands more. Officials of the firm are criticizing food companies for not lowering prices in the wake of declining input prices.
New York Times (registration to site required)
||Monitoring the countryside
Des Moines Register (Iowa)
|Laughing with, not at
||From political humorists
David Letterman: Top Ten Things Hillary Clinton Wants To Accomplish On Her Trip Overseas Top Ten 10. Exchange U.S. dollars for currency that's worth something 9. Win respect defeating Japan's top-ranked sumo wrestler 8. Shift world's perception of America from "hated" to "extremely disliked" 7. Personally thank all of her illegal campaign donors 6. Three words: stylish Indonesian pantsuits 5. Visit burial site of revered Chinese military leader, General Tso 4. Get drunk with that Japanese finance minister guy Convince 3. China to switch from lead-tainted products to mercury-tainted products 2. Catch Chinese screening of Benjamin Button entitled "The Strange Adventures of Freaky Grandpa Baby" 1. Pick up carton of duty-free smokes for Obama