Snapshot of news and events for today
||Major world indicators
- The 225-issue Nikkei Stock Average rose 18.35, or 0.2 percent, to close at 8,726.34.
- The dollar was at 96.55 yen from 97.17 yen.
Friday's U.S. Markets...
- The Dow Jones Industrial Average rose 119.23, or 1.5 percent, to 8,076.29 -- but was down 0.7 percent for the week. The Nasdaq Composite Index rose 42.08, or 2.6%, to 1,694.29 -- up 1.3 percent for the week.
- The 10-year Treasury note yield was up to 2.99% from 2.93% late Thursday.
- The dollar was at 97.13 yen from 97.92, while the euro was at $1.3243 from $1.3139 Thursday.
||Yesterday's action and
What happened the prior trading day...
- Corn: Futures closed lower today to end virtually unchanged for the week.
- Soybeans: Futures posted a choppy week of trade and for the first week in over a month, didn't move above the previous week's high.
- Wheat: Futures ended the week choppy, although Chicago favored gains on spillover from soybeans.
- Cotton: Futures closed higher Friday and for the week, extended the recent price rally.
- Lean Hogs: Lean hog futures ended the week with a gap lower open and ended near weekly lows.
- Live Cattle: Live cattle futures ended near weekly lows, pressure by concerns about a near-term high being posted in the cash cattle and beef product markets.
||Other reports affecting agriculture
||Links to top news reports
with potential U.S. ag impact
Wall Street Journal (subscription to site required for access)
- Flu Fears Spur Global Triage The swine flu cases that have cropped up in the U.S. and Mexico have prompted a global response, with trade halts on pork and efforts on the human side of the equation. The U.S. government announced it would question or test ill travelers arriving from areas with confirmed swine-flu cases.
Airlines, Agencies Step Up Vigilance
U.S. Mobilizes as 20 Cases Confirmed
Science Races to Parse New Virus
Mexicans Hide Out to Avoid Infection
What It Is and What to Do: A Primer
- Obama Aims for a Global Consensus The Obama administration this week hosts "Major Economies Forum on Energy and Climate," a forum in Washington, as it seeks to try and get a unified action plan globally on the issue of climate change.
- Developing Nations Try to Build Long-Term Leverage at the IMF Brazil, Russia, India and China are all pushing for the IMF to issue bonds as they seek to have a bigger role in the global agency.
Along With New Money, IMF Gets Politically Perilous Tasks
- Strengthen U.S.-China Trade Ties Now is no time for protectionism. Op-ed item by Chen Deming, minister of commerce for the People's Republic of China. The writer notes the significant economic and trade ties between the U.S. and China, but notes that recent actions on trade are potentially souring that relationship, something which isn't advisable in the current economic climate.
- Chrysler, UAW Amend Labor Pact to Cut Costs. Chrysler and the UAW reached a deal on a labor agreement which should let the negotiations move forward between Chrysler and Fiat.
Car Dealers' Next Headache: Inventory Loans
Tax Credit Is Possible To Aid Auto Retirees
New York Times (registration to site required)
||Monitoring the countryside
Fargo Forum (North Dakota)
- Milking cows udderly simple for farmer The use of robots to milk cows has meant that they can be milked at any time during the day, and has made even tracking milk production easier. Eight Minnesota farmers have installed the robotic milking systems now.
Wichita Eagle (Kansas)
- Milk labeling likely to stay the same From Saturday's editions. State lawmakers admit they're not likely to be able to override the veto of milk labeling legislation that would have put stricter rules in place.
Des Moines Register (Iowa)
|Laughing with, not at
||From political humorists
David Letterman: "Here's a name out of the past." He used "to be governor of the state of New York." Eliot Spitzer, "does that ring a bell? ... Listen to this, according to a new poll, two out of three New Yorkers would like to have...Spitzer back as their governor. I mean sure, two out of three New Yorkers are hookers."
David Letterman: "Do you know who is in town?" One of the Somali pirates is "on trial here in the United States." But he is not just in court. No, this pirate is "everywhere." For example, this weekend, "he's hosting 'Saturday Night Live.' Monday, he's attending the Tribeca Film Festival. Tuesday, he's going to launch his new fragrance. Wednesday, he's having lunch with Ruth Madoff. And Thursday he's going to hijack the Staten Island Ferry, so he's got a big, full schedule."