Second Installment of TARP Approved

January 15, 2009 06:00 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 added 206.84 points, or 2.6 percent, to 8,230.15.

  • The dollar stood at 90.41 yen, up from 89.92 yen.

Thursday's U.S. Markets...

  • The Dow Jones Industrial Average rose 12.35, or 0.15 percent, to 8,212.49. The Nasdaq Composite Index rose 22.20, or 1.49 percent, to 1,511.84.
  • The 10-year Treasury note yield was unchanged at 2.20 percent from late Wednesday.

  • The dollar was at 89.839 yen from 89.06 yen, while the euro was at $1.3154, compared with $1.3160 late Wednesday.

Ag futures Yesterday's action and
overnight indicators

What happened the prior trading day...


  • Corn: Futures closed mostly around a penny lower, which was a mid-range close.
  • Soybeans: Futures closed mostly 20 to 23 cents higher, which as a mid- to low-range close.

  • Wheat: Futures saw two-sided trade, but favored a weaker tone.
  • Cotton: Futures extended gains into the close to finish sharply higher.
  • Lean Hogs: Lean hog futures closed 10 cents to $1.15 lower, with deferreds leading losses.
  • Live Cattle: Live cattle futures saw a choppy day of trade, but in the end live cattle closed steady to $1.00 higher, with nearbys leading gains.

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

Jan. 12

World Agricultural Supply and Demand Estimates (W)
Cotton Ginnings (N)
Crop Production (N)
Grain Stocks (N)
Winter Wheat Seedings (N)
Rice Stocks (N)
Crop Production Annual Summary (N)
Cotton: World Markets and Trade (F)
Grains: World Markets and Trade (F)
Oilseeds: World Markets and Trade (F)
World Agricultural Production (F)
Grain Inspections (A)
Season-Average Price Forecasts
(E)

13

Weather - Crop Summary (N)
Oil Crops Outlook (E)
Rice Outlook (E)
Latest U.S. Agricultural Trade Data (E)

14

Wheat Outlook (E)
Feed Outlook (E)
Livestock and Meat Trade Data (E)
Broiler Hatchery (N)
Aquaculture Data (E)
U.S. Agricultural Trade Data Update
(E)

15

U.S. Export Sales (F)
Potato Stocks (N)
Turkey Hatchery (N)

16

Dairy Products Prices (N)
Meat Price Spreads (E)
Farm and Ranch Safety Survey (N)
Milk Production (N)

Peanut Prices (N)


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)

  • Stimulus Package Unveiled $825 Billion Plan Includes Business Tax Breaks; Senate Releases Cash for Bank Rescues The package as introduced right now includes some ag-related provisions, including those that help small businesses and target projects to rural areas on broadband access. The package would amount to 3% of U.S. GDP over 2 years. However, provisions in the package are expected to change as Congress works on the plan.
    Related item:
    TARP Funds' Second Half Set for Release as Senate Signs Off on Request
    Big Holders of GM Debt Form Group to Negotiate

  • ECB Cuts Rates to 2%, Matching '05 Low The action marked the fourth cut in as many months by the European Central Bank. However some think additional rate cuts are in the cards, saying the ECB has likely underestimated the depth of the economic woes in Europe.
    Related item:
    European New-Car Sales Hit 15-Year Low

  • Europe's Big Three Toughen Stance on Gas Germany, France and the UK all are pressing Russia and Ukraine harder to resolve the dispute between the two that has seen natural gas supplies to Europe be severely disrupted. Their actions are aimed at resuming the flow, warning Russia that relations could be damaged if the situation lingers.
  • Russia Is Trying to Get Gas to Europe Ukraine is the obstacle. Op-ed item by Alexander Medvedev, deputy chairman of Gazprom and director general of Gazprom Export. The writer says the blame in the natural gas cutoff for Europe lies with Ukraine, not Russia, and says that Ukraine is violating terms of agreements signed to get gas to Europe.

New York Times (registration to site required)

Washington Post

Ag media Monitoring the countryside

Des Moines Register (Iowa)

Laughing with, not at From political humorists

Jay Leno: "At his confirmation hearing, Attorney General Nominee Eric Holder said as far as he is concerned, waterboarding is torture. And Treasury secretary" nominee "Tim Geithner said, 'So is paying taxes.'"

David Letterman: "Bush will leave January 20th. Yes. Will it never get here?"

Jimmy Kimmel: "Much of the country is frozen tonight," and in "some states, the snow is up to the top of the foreclosure signs."


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