The Week Ahead: Oct. 8-14, 2012

October 8, 2012 01:23 AM

via a special arrangement with Informa Economics, Inc.

USDA reports | VP debate

NOTE: This column is copyrighted material, therefore reproduction or retransmission is prohibited under U.S. copyright laws.

The U.S, government is out on holiday today (Columbus Day), and the rest of the week shows a relatively light schedule. Key events are Thursday's spate of key USDA reports including crop and supply/demand estimates, and Thursday's debate between the vice presidential candidates.

There are some important economic indicators coming from the government. On Wednesday comes the Federal Reserve's Beige Book report and the US Treasury budget statement. The Congressional Budget Office (CBO) announced last week that they calculated the FY 2012 deficit at $1.1 trillion so we’ll see how the Treasury Dept. counts up the red ink. Thursday has the weekly Jobless Claims data and International Trade figures. The week closes out with the Producer Price Index and Consumer Sentiment figures.

For agriculture, the holiday delays some weekly data – Crop Progress will come out on Tuesday while Weekly Export Sales figures will arrive Friday morning. But the major focus next week will be on Thursday when the monthly Crop Production and Supply/Demand data are released.

Congress remains on their pre-election break with a lame-duck session on tap following the Nov. 6 elections.

Key events and reports this week include:

Monday, Oct. 8
US Holiday: Columbus Day. Banks & bond market closed, stocks open.
EU: Group of 17 European Union finance ministers meets in Luxembourg. The agenda includes the European Stability Mechanism, which becomes operational today.

Tuesday, Oct. 9
FDIC board finalizes a rule for annual stress tests for state-chartered banks with at least $10 billion in assets.
European Central Bank President Mario Draghi speaks at a public hearing at the European Parliament in Brussels.
Energy reports:
Weekly National Petroleum Report (API).
Economic reports: NFIB Small Business Optimism Index | ICSC-Goldman Store Sales.
USDA reports: Export inspections (AMS) | Crop Progress (NASS).

Wednesday, Oct. 10
Oil report: OPEC publishes its monthly oil-market report.
Energy reports: Weekly Petroleum Status Report (EIA) | Weekly ethanol plant production (EIA).
Economic reports: Weekly mortgage applications (Labor Dept.) | MBA Purchase Applications | Wholesale Trade | Beige Book (Federal Reserve) | Treasury Budget.
reports: Broiler Hatchery (NASS)

Thursday, Oct. 11
Debate: Vice President Joe Biden and Rep. Paul Ryan will debate in Danville, Ky.
MF Global: A Manhattan bankruptcy judge will review a deal to let the U.S. broaden its probe of MF Global Holdings.
Federal Reserve Vice Chairman Janet Yellen speaks in Tokyo on Japan's position in the global economy.
Transportation: Weekly Traffic of Major Railroads (Assn. Of American Railroads) | Grain Transportation Report (AMS).
Energy reports: Weekly US underground natural gas stocks (EIA).
Economic reports: Jobless Claims (Labor Dept.) | Weekly Mortgage Rates (Freddie Mac) | ICI weekly money market mutual fund data | International Trade | Import and Export Prices.
USDA reports: Cotton, Grains, Oilseeds, and World Agricultural Production Data (FAS) | Crop Production (NASS) | Cotton Ginnings (NASS) | World Agricultural Supply and Demand Estimates (WAOB) | World Agricultural Production (FAS) | Oilseeds: World Markets and Trade (FAS) | Grains: World Markets and Trade (FAS) | Cotton: World Markets and Trade (FAS) | Season-Average Price Forecasts (ERS) | Latest US Agricultural Trade Data

Friday, Oct. 12
Energy: Monthly Petroleum Statistical Report (API).
Economic reports: Producer Price Index | Consumer Sentiment.
USDA reports: Export Sales (FAS) | Livestock and Poultry: World Markets and Trade (FAS) | Livestock and Meat Trade Data (ERS) Peanut Prices (NASS) | U.S. Agricultural Trade Data Update (ERS) Cotton and Wool Outlook (ERS) Rice Outlook (ERS).


NOTE: This column is copyrighted material, therefore reproduction or retransmission is prohibited under U.S. copyright laws.


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