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Friday, November 20, 2009U.S. Economy
Grains and Cotton
You have to admit, this is impressive: March cotton closed up 1.07 cents at 74.04, the highest close in fourteen months with help from a wet fall and weak U.S. dollar. Livestock
After the close, the USDA said that there were 11.134 million head of cattle on feed on November 1st, up 1.5% from a year ago and roughly as expected. Placements in October were up 1% while marketings were down 3%. After the close, the USDA said that there were 37.0 million pounds of frozen pork bellies in storage on October 31st, up 71% from a year ago and more than expected. Frozen pork supplies totaled 520 million pounds, down 1% from a year ago and less than expected. February hogs closed up 1.10 at 64.37, helped by profitable packer margins. After the close, the USDA estimated this week's beef production at 492.8 million pounds, down .5% from a year ago. Pork production was estimated at 475.3 million pounds, down 1.1% from a year ago. Lumber
Sugar
Orange juice
Metals - Another New High for Gold
Currencies
The Bank of Japan met today and kept its interest rate unchanged at .1%, as expected. The Bank also upgraded its assessment of the economy, thanks to an increase in exports. The December yen ended up .0005 at 1.1242. How's Your Trading? Today's news might be interesting, but did it help your trading? For more practical insights, read the chart comments in "The Markets" section. Don't miss out... Have our daily futures news emailed to you everyday. Sign up at the top of the left-hand column. (Possible) Market-Moving News of 2009:November 3 - IMF sells 200 tons of gold to the Reserve Bank of India. Gold hits new record high. October 30 - Japan's unemployment rate improved from 5.5% to 5.3% in September, the best in four months. October 29 - Chinese officials agreed to end their six-month ban on U.S. pork imports. October 9 - USDA: Florida's 2009-2010 orange crop estimate at 136 million boxes, less than expected. October 9 - Canada's unemployment rate unexpectedly improved from 8.7% to 8.4% in September, the first decline since last fall. October 8 - ICSG est.: World copper production surplus of 539,000 tons in 2010, up from their April estimate of 400,000 tons. September 18 - USDA: 492,529 acres of commercial orange trees in Florida, down 1% from a year ago and the lowest total since 1986. September 11 - First mention of severe drought conditions affecting China's corn crop. August 21 - This week, Warren Buffett, Joseph Stiglitz, and PIMCO's El Erian all made negative comments about the U.S. dollar. August 19 - The World Gold Council said that central banks bought 14 tons of gold in the second quarter of 2009 - "the first net purchase by central banks for a considerable length of time." August 13 - France and Germany surprise markets with .3% positive growth in the second quarter. August 7 - First improvement in the U.S. unemployment rate since April of 2008. July 27 - U.S. new home sales up 11% in June, much better than expected. July 24 - Lowest U.S. cattle inventory in 36 years and lowest cattle on-feed available in 10 years. June 30 - USDA: 87.04 million planted corn acres, +1% from a year ago, the second most acres since 1946, and much more than expected. May 26 - India bans futures trading in sugar contracts. May 21 - USDA estimates that 2009-2010 world ending stocks of sugar will total 19% of annual use, the lowest in 16 years. May 4 - China's manufacturing index confirms first expansion in nine months. April 27 - World Health Organization declares swine flu outbreak an international health emergency. April 22 - China imports record high 296,843 tons of copper in March. March 18 - Fed will buy $300 billion in Treasuries and $750 billion of mortgage securities. March 10 - Surprise profit at Citigroup. At the end of the day,
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