MONDAY OUTLOOK: WASDE REPORT

Today was the much-watched USDA crop production and World Agricultural Supply & Demand Estimates report and they surprised investors a bit by trimming the forecast for the record-breaking harvest in corn .  The estimate for the domestic harvest was cut to 14.48bn bushels, a forecast it said was “68m bushels lower, but still a record.”  Wheat supplies were also decreased about 10 million bushels based off the lowered global wheat consumption but soybeans heeded a larger-than-expected supply estimate. You can read the full report here.   

 

Tuesday:

 

U.S. Banking Holiday – Veterans Day

 

 

Wednesday:

 

Philadelphia Federal Reserve Bank President Charles Plosser speech 3:00 AM

 

U.S. Bank Reserve Settlement 7:00 AM ET

 

 

Thursday:

 

Minneapolis Federal Reserve Bank President Narayana Kocherlakota speech 2:45 AM ET

 

Philadelphia Federal Reserve Bank President Charles Plosser speech 12:30 PM ET

 

 

Friday:

 

U.S. Export Sales 7:30 AM CT

 

St. Louis Federal Reserve Bank President James Bullard speech 9:00 AM ET

 

Links:

 

China is building infrastructure to establish new trade, transport to Europe (The Wall Street Journal)

 

“Ripe for Disruption”: How startups are impacting Chicago’s derivatives industry (Financial Times)

 

China’s stock markets change forever next week (MarketWatch)

 

The Fed mollifies its hawks but now its doves are fretting (The Economist)

 

Fewer CFTC cases will see Federal Court (The Wall Street Journal)

 

A sharp drop in energy bond prices has pushed yields to their highest level in more than one year (Financial Times)

 

Republicans have votes to force Keystone XL approval (Fuel Fix)

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