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Crop Watch corn and soybean fields rose again last week as seasonably cool temperatures dominated, outweighing some of the underwhelming rainfall totals in western areas. Cool weather should dominate this week, favorable for corn pollination, which is currently under way in at least seven of the 11 corn fields. Average corn yield starts at 3.95 versus 4.07 in the same week last year and 3.86 in the same week in 2021. The North Dakota corn is in Griggs County and the soybeans are in Stutsman County. Photos of the Crop Watch fields can be tracked on my Twitter feed using handle @kannbwx.

Persons: ’, Karen Braun, Matthew Lewis Organizations: U.S . Crop, U.S . Department of, Crop, Indiana, The North, Reuters, Thomson Locations: NAPERVILLE , Illinois, U.S, Iowa, Illinois, Ohio, Minnesota, North Dakota, Nebraska, South Dakota, South Dakota , Kansas, Nebraska , Kansas, The, The North Dakota, Kingsbury , South Dakota, Freeborn , Minnesota, Burt , Nebraska, Rice , Kansas, Audubon , Iowa, Cedar , Iowa, Warren , Illinois, Crawford , Illinois, Tippecanoe , Indiana, Fairfield , Ohio, Griggs County, Stutsman County

☆ San Francisco Fed president: Silicon Valley Bank’s failure wasn’t our fault
▼ + stars: | 2023-07-10 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

Washington, DC CNN —Silicon Valley Bank failed because regulators were far too slow to take action, San Francisco Federal Reserve Bank President Mary Daly said Monday in her first extended remarks about the collapse. SVB operated in Daly’s district before the regional bank’s stunningly rapid failure in March, but she noted she doesn’t have a supervising role. Daly said the supervisors at the San Francisco Fed simply report issues to the Fed’s Board of Governors, which is ultimately responsible for fixing any regulatory issues. “My job is to support the supervision that the vice chair of supervision has set out, so how do I do that? The possibility of a rate hike in September remains unclear, though Powell said he wouldn’t take consecutive rate hikes off the table.

Persons: Mary Daly, SVB, ” Daly, Michael Barr, Democratic Sen, Elizabeth Warren, Daly, Jerome Powell, Warren, ”, Barr, it’s, It’s, Powell, Loretta Mester, Mester, “, Raphael Bostic, ” Bostic, ” — CNN’s Elisabeth Buchwald Organizations: DC CNN, Valley Bank, San Francisco Federal Reserve Bank, Brookings Institution, Signature Bank, First Republic Bank, Democratic, San Francisco Fed, Fed’s, of Governors, Fed, San Francisco, Cleveland Fed, University of California, Atlanta Fed, trickling, Cobb County Chamber of Commerce Locations: Washington, Daly’s district, Washington ,, San Francisco Fed, San Diego, Cobb County, Atlanta

☆ A millennial couple earning 6 figures pay $60,000 a year for childcare. It's their biggest financial burden.
▼ + stars: | 2023-06-27 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +6 min

Like many millennials, Connell faces a more expensive version of parenthood than past generations. "One of the reasons we actually have an au pair is because day care kept shutting down." She added that no day care would be able to take on their youngest until April. "It's an additional $20,000 to $30,000 for her for that extra year of childcare," Connell said. "People are always so shocked to find out what we pay for day care," she said.

Persons: Paige Connell, Connell, —, Connell isn't, Annie E, Gen Zers, Zers, millennials, Paige Connell Connell, couldn't Organizations: Service, Casey Foundation, Deloitte Locations: Massachusetts

☆ Judge blames George Santos for personally feeding 'media frenzy' into his mysterious bail sponsors before making their names public
▼ + stars: | 2023-06-22 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +6 min

A federal judge disclosed the identities of George Santos's bail sponsors: His dad and aunt. Santos was personally responsible for giving reasons to unseal their names, a judge wrote. He personally fueled the "media frenzy" cited to keep their identities private, according to the judge. US District Judge Joanna Seybert commented on Santos's conduct in an order issued on Tuesday and unsealed on Thursday, along with the bail sponsors. Santos personally fed that frenzy by speaking to members of the media following his May arraignment in federal court on Long Island, Seybert wrote in her ruling.

Persons: George Santos's, Santos, —, George Santos, Joanna Seybert, Gercino Antônio dos Santos, Elma Santos Preven, Joseph Murray, Seybert, Defendant's, you'll, Anne Shields, Shields, Lokman Vural, Santos's, Suretors, he'd Organizations: Service, Republican, Congressional, US, Defendant, Congress, Anadolu Agency, Getty Locations: York, Long, Central Islip

NEW YORK, June 20 (Reuters) - Oil futures fell about 2% in choppy trading on Tuesday on forecasts for slower growth of oil demand in China, the world's second-biggest oil consumer, and disappointment with the size of cuts in China's key lending rates. "Oil traders may need to see a materialised strong economic rebound in China to improve their outlook on oil demand," said Tina Teng at CMC Markets in Auckland. Higher interest rates ultimately increase borrowing costs for consumers, which could reduce oil demand by slowing economic growth. A stronger dollar makes crude more expensive for holders of other currencies, which can reduce oil demand. On the supply side, Iran's crude exports and oil output have hit new highs this year despite U.S. sanctions.

Persons: Brent, Edward Moya, Tina Teng, Thomas Barkin, Scott DiSavino, Noah Browning, Katya Golubkova, Andrew Hayley, David Goodman, Matthew Lewis Organizations: YORK, . West Texas, CMC Markets, China, Administration, Customs, . Federal Reserve, Richmond Fed, U.S ., Organization of, Petroleum, Thomson Locations: China, U.S, Auckland, Russia, New York, London, Tokyo, Beijing

☆ Oil rises as Chinese economic indicators offer mixed picture
▼ + stars: | 2023-06-20 | by ( Noah Browning | ) www.reuters.com time to read: +2 min

U.S. West Texas Intermediate (WTI) crude for July was down 3 cents from Friday's close at $71.75. The more active WTI crude contract for August delivery was up 10 cents from Friday at $72.03 per barrel. There was no settlement in the WTI contract on Monday due to a public holiday in the United States. "Oil traders may need to see a materialised strong economic rebound in China to improve their outlook on oil demand," said Tina Teng, a markets analyst at CMC Markets in Auckland. Higher interest rates reduce appetite for spending and can drive down oil demand.

Persons: Brent, Tina Teng, Katya Golubkova, Andrew Hayley, Kim Coghill, Jason Neely, Louise Heavens Organizations: . West Texas, CMC Markets, China National Petroleum, Organization of, Petroleum, Thomson Locations: China, United States, Auckland, Russia, Moscow, Tokyo, Beijing

TOKYO/BEIJING, June 20 (Reuters) - Oil prices slipped on Tuesday after China cut benchmark lending rates less than some expected, sowing further concern over the oil demand outlook in the world's largest crude importer. U.S. West Texas Intermediate (WTI) crude for July was down 99 cents from Friday's close at $70.79. The more active WTI crude contract for August delivery was down 71 cents from Friday at $71.22 per barrel. "The rate cuts ... were widely expected, hence it did not offer a bullish push to the oil markets," said Tina Teng, a markets analyst at CMC Markets in Auckland. "Oil traders may need to see a materialized strong economic rebound in China to improve their outlook on oil demand," Teng said.

Persons: Brent, Tina Teng, Teng, Jerome Powell, Katya Golubkova, Andrew Hayley, Jamie Freed, Tom Hogue Organizations: . West Texas, CMC Markets, European Central Bank, . Federal, Organization of, Petroleum, OPEC, JPMorgan, Thomson Locations: TOKYO, BEIJING, China, United States, Auckland, Russia, Moscow, OPEC, Nigeria, Iran, Venezuela, Tokyo, Beijing

☆ Oil prices mixed ahead of China lending benchmarks decision
▼ + stars: | 2023-06-20 | by ( ) www.cnbc.com time to read: +2 min

Oil prices were mixed on Tuesday ahead of a decision on lending benchmarks by China, with the world's second-largest economy widely expected to cut key rates to shore up a slowing recovery. U.S. West Texas Intermediate (WTI) crude CLc1 was unchanged at $71.29 and there was no settlement on Monday due to a public holiday in the United States. The WTI crude contract due on July 20 was down 58 cents to $71.35 per barrel. On the supply side, Iran's crude exports and oil output have hit new highs in 2023 despite U.S. sanctions. The bank cut its average estimate for the price of Brent to $81 per barrel this year from an earlier $90 a barrel forecast.

Persons: Brent, Jerome Powell Organizations: . West Texas, ANZ Research, U.S, European Central Bank, . Federal, Organization of, Petroleum, OPEC, JPMorgan Locations: China, United States, Russia, Moscow, OPEC, Nigeria, Iran, Venezuela

☆ Four alarming charts that show just how extreme the climate is right now
▼ + stars: | 2023-06-17 | by ( Rachel Ramirez | ) edition.cnn.com time to read: +8 min

Record high levels of carbon pollution in the atmosphere and record low levels of Antarctic ice. Several all-time heat records were also broken earlier this month in Siberia, as temperatures shot up above 100 degrees Fahrenheit. In 2022, the world’s oceans broke heat records for the fourth year in a row. In late February, Antarctic sea ice reached its lowest extent since records began in the 1970s, at 691,000 square miles. The decline in sea ice also poses severe harm to the continent’s species, including penguins who rely on sea ice for feeding and hatching eggs.

Persons: Brian McNoldy, vZ9eKEs22b, we’re, ” Jennifer Marlon, “ We’ve, – we’ve, Ted Scambos, “ We’re, Phil Reid, El, Climatologist Maximiliano Herrera, “, El Niño, ” Herrera, ” Scambos, Reid, Scambos, there’s, Rick Spinrad, ” Organizations: CNN, University of Miami Rosenstiel School of Marine, Yale School of, University of Colorado -, National Weather Service, Australian, of Meteorology, National Oceanic, Atmospheric Administration, Atlantic, NOAA, Scripps Institution of Oceanography, University of California, Industrial Locations: University of Colorado - Boulder, Canada, United States, Siberia, Central America, Texas, Louisiana, Puerto Rico, Asia, China, El, California, Pacific, San Diego

☆ DeSantis campaign tells nervous donors in leaked audio that voters will care more about a recession and Biden's age than the governor's anti-abortion record
▼ + stars: | 2023-05-27 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +6 min

Leaked audio from FloridaPolitics.com revealed that donors were concerned about DeSantis' abortion ban. The DeSantis campaign shared talking points with fundraisers over how to discuss the issue. Ron DeSantis campaign strategy as he kicks off his early state voting tour next week. Toward the end of the conversation, however, he acknowledged, "I totally understand how difficult that is when you're talking to a pro-choice donor." "I don't think if you're talking to a pro-choice voter you skip over it," he said.

Kilicdaroglu, chair of the secularist Republican People's Party (CHP), received 44.9% in what was seen as the biggest electoral challenge to Erdogan's 20-year rule. A third candidate, nationalist Sinan Ogan, obtained 5.17% and both Erdogan and Kilicdaroglu are expected to seek his endorsement in negotiations this week. Turkey hosts the world's largest refugee population of around 4 million, according to official figures. Supporters of Kemal Kilicdaroglu, presidential candidate of Turkey's main opposition alliance, rally outside the Republican People's Party (CHP) headquarters on election night in Ankara, Turkey May 14, 2023. In Wednesday's video, Kilicdaroglu also accused Erdogan of cooperating with the network Ankara accuses of orchestrating a 2016 coup attempt.

☆ Homebuilder sentiment pulls out of negative territory for the first time in nearly a year
▼ + stars: | 2023-05-16 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +3 min

It's the fifth straight month of gains and the first reading of builder sentiment since July that wasn't negative, which would be a reading below 50. With mortgage rates now double what they were a year and a half ago, some potential sellers may be reluctant to trade to another home at a higher rate. Homebuilders also drew more buyers by offering incentives, like buying down mortgage rates. Sentiment in the Midwest rose 2 points to 39. In the South, it increased 3 points to 52, and in the West moved 3 points higher to 41.

☆ While Asia markets may cheer a Fed pause, watchers are split on growth prospects
▼ + stars: | 2023-05-08 | by ( Jihye Lee | ) www.cnbc.com time to read: +4 min

Ping Shu | Moment | Getty ImagesWhile a pause in the U.S. Federal Reserve's rate-hike cycle would lead to stronger Asian currencies, the region's recent earnings and disappointing Chinese economic data leave watchers split on the growth outlook. Stock Chart Icon Stock chart iconA Fed pause could boost U.S. stocks, but its effect on regional growth in Asia may not be as straightforward. Nomura's equity strategists kept their views for Asia-Pacific stocks unchanged despite the likelihood of a potential Fed pause, maintaining its year-end target for MSCI Asia ex-Japan. "Nonetheless, in our base case, we do not expect a meaningful decline in Asian stocks. "Asian investors' big worry surrounds China," he said, pointing to the "unsustainability of consumption rebound, especially against the backdrop of persistently high youth unemployment levels."

☆ World food prices rise for first time in a year, UN food agency says
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +2 min

The Food and Agriculture Organization's (FAO) price index, which tracks the most globally traded food commodities, averaged 127.2 points last month against 126.5 for March, the agency said on Friday. "As economies recover from significant slowdowns, demand will increase, exerting upward pressure on food prices," said FAO Chief Economist Maximo Torero. While the meat index rose 1.3% month-on-month, dairy prices dipped 1.7%, vegetable oil prices fell 1.3% and the cereal price index shed 1.7%, with a decline in world prices of all major grains outweighing an increase in rice prices. World cereal utilisation in the 2022/23 period was seen at 2.780 billion tonnes, FAO said, down 0.7% from 2021/22. World cereal stocks by the close of the 2022/2023 seasons are expected to ease by 0.2% from their opening levels to 855 million tonnes.

☆ Wall St stocks, dollar gain with data; Fed, earnings in the wings
▼ + stars: | 2023-05-01 | by ( Sinéad Carew | ) www.reuters.com time to read: +4 min

Also, weaker Chinese manufacturing data was outweighing support from OPEC+ supply cuts slated for this month. In currencies, the dollar index rose 0.383%, with the euro down 0.45% to $1.097. In Treasuries, yields on benchmark 10-year notes were up 9.7 basis points to 3.549%, from 3.452% late on Friday. The yield on the 2-year note was last was up 7.3 basis points at 4.1366%. Gold gave up all of its gains in volatile trading after the better-than-expected U.S. manufacturing data.

[1/3] Tesla's new electric semi truck is unveiled during a presentation in Hawthorne, California, U.S., November 16, 2017. REUTERS/Alexandria Sage/File Photo/File PhotoSan Francisco, April 6 (Reuters) - Tesla Inc (TSLA.O) said it plans to expand the use of cheaper, iron-based batteries to a version of its Semi heavy electric trucks and an affordable electric vehicle. Tesla last December started to deliver its Semi electric trucks with a longer, 500-mile driving range per charge and which use nickel-based batteries. Currently, Tesla uses nickel-based batteries for most of its Model 3 and Model Y vehicles sold in the United States. Tesla's South Korean supplier, LG Energy Solution (373220.KS), said it plans to build LFP batteries at its proposed Arizona factory.

☆ Lack of home listings is taking a toll on mortgage demand
▼ + stars: | 2023-04-05 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

Mortgage rates fell last week, but demand for home loans didn't move higher as a result. Other aspects of today's housing market are outweighing the benefit of lower mortgage rates right now, namely a lack of supply. Mortgage applications to purchase a home, however, dropped 4% last week compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. "Although the mortgage rate for conforming balance loans declined by five basis points over the week to 6.40%, the mortgage rate for jumbo loans increased by nine basis points to 6.36%," added Fratantoni. The refinance share of mortgage activity decreased to 28.6% of total applications from 29.1% the previous week.

☆ UBS salvages most value from Credit Suisse wreck
▼ + stars: | 2023-03-19 | by ( Liam Proud | ) www.reuters.com time to read: +4 min

Meanwhile the government will cover up to 9 billion Swiss francs of losses, such as markdowns on Credit Suisse assets, past a certain threshold. A UBS takeover is preferable to the Swiss government nationalising Credit Suisse or winding it down. Follow @liamwardproud on TwitterCONTEXT NEWSUBS will rescue Credit Suisse in a deal worth about 3 billion Swiss francs, Swiss authorities and the two banks said on March 19. Shareholders in Credit Suisse will get one new UBS share for every 22.48 shares they currently hold. Based on UBS’s closing price on March 17 the offer values Credit Suisse shares at 0.76 Swiss francs each, well below the last closing price of 1.86 Swiss francs.

NEW YORK, March 17 (Reuters) - Whipsawed U.S. stocks have gained an unexpected ally in recent days - a historic plunge in bond yields. The volatility in fixed income markets has unsettled investors, and falling yields can reflect expectations that the Fed will cut rates because of a hit to growth. The index finished up 1.4% for the week, with strength in technology stocks outweighing sharp declines in bank shares. Tech stocks vs US bond yieldsThe near-term trajectory of yields will likely hinge on next week's Federal Reserve meeting. The S&P 500 trades at 17.5 times forward earnings estimates compared to its historic average P/E of 15.6 times, according to Refinitiv Datastream.

☆ U.S. FDA advisers vote in favor of full approval for Pfizer's COVID pill Paxlovid
▼ + stars: | 2023-03-16 | by ( ) www.reuters.com time to read: 1 min

Companies Pfizer Inc FollowMarch 16 (Reuters) - Advisers to the U.S. health regulator on Thursday voted in favor of recommending a full approval for Pfizer's (PFE.N) COVID-19 pill Paxlovid in adults at high risk of progression to severe disease. The Food and Drug Administration's panel of external advisers voted 16-to-1 in favor of the drug's benefits outweighing its risk for some adults with mild-to-moderate COVID-19. Reporting by Leroy Leo and Khushi Mandowara in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

☆ SVB Bust Won’t Go Big in Japan—Probably
▼ + stars: | 2023-03-13 | by ( Jacky Wong | ) www.wsj.com time to read: +1 min

The fall of SVB has put a spotlight on losses in banks’ bond portfolios caused by rapidly rising interest rates in the U.S. and abroad. Japan is a big owner of foreign government bonds. The Silicon Valley Bank debacle has highlighted the risks posed by rising interest rates—but the country’s financial institutions will likely avoid similar fallout despite mountainous Treasury holdings. Japan is the top foreign owner of the U.S. Treasury bonds—outweighing even China—with total holdings of nearly $1.1 trillion. Japan’s foreign currency reserves account for much of it—it has nearly $1 trillion in foreign securities—but financial institutions make up much of the rest.

☆ 3 in 4 women say they're unprepared for a recession in the coming year—here's how they're protecting their money
▼ + stars: | 2023-03-08 | by ( Kamaron Mcnair | ) www.cnbc.com time to read: +2 min

That could explain why women — who still earn less, on average, than men — are more worried than men that a recession is coming, according to a recent Bankrate survey. Not only are 74% of women (compared to 65% of men) worried about an economic downturn, but nearly half of women say they're unprepared if the U.S. does enter a recession this year, Bankrate found in a survey of nearly 2,400 adults. Recessions can affect people differently regardless of gender, but Bankrate found several indications that women are at greater risk of facing trouble if a recession happens. Many women are taking steps to avoid potential disaster. "Putting as little as $10 or $20 away weekly in a savings account can make a significant difference over time," Gailey says.

☆ Upbeat earnings help FTSE 100 rebound from last week's selloff
▼ + stars: | 2023-02-27 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

SummarySummary Companies Bunzl, Associated British Foods up after resultsRolls-Royce top of FTSE 100 after price target raiseFTSE 100 up 0.8%, FTSE 250 adds 0.4%Feb 27 (Reuters) - The UK's FTSE 100 rose on Monday after upbeat earnings reports from Associated British Foods and Bunzl helped pull the index up from last week's battering on worries about high U.S. interest rates. The blue-chip FTSE 100 (.FTSE) rose 0.8%, after recording its worst weekly performance so far this year as hotter-than-expected U.S. consumer spending data on Friday sparked a selloff on both sides of the Atlantic. Primark owner Associated British Foods (ABF.L) climbed 1.3% after raising its outlook for the full year 2022-23 for the clothing retailer. The FTSE 100 has had a stellar start to the year so far, rising 6.4% as strong earnings and a steady rise in commodity prices helped the index outperform major global peers, outweighing a gloomy economic outlook. The more domestically-inclined FTSE 250 midcap index (.FTMC) rose 0.4%, with a near 16% slump in shares of Dechra Pharmaceuticals(DPH.L) capping gains.

☆ Dollar General, Family Dollar, and Dollar Tree are taking over the US with more new stores than any other retailer — and it reveals a shift in how Americans are shopping
▼ + stars: | 2023-01-03 | by ( Ben Tobin | ) www.businessinsider.com time to read: +2 min

Dollar General announced more than 1,000 store openings in 2022, per company Coresight Research. Other companies that opened many stores in 2022 include Aldi, Ross Dress For Less, and Five Below. And discount stores have reaped the benefits: Dollar General's stock soared to an all-time high in November 2022, for example. With so many people looking to save money, discount stores led the pack for retailers in opening new locations next year. Dollar General — 1,024 storesDollar General.

☆ South Korea December exports to fall for third month as China demand still weak: Reuters poll
▼ + stars: | 2022-12-28 | by ( Jihoon Lee | ) www.reuters.com time to read: +2 min

"South Korea's exports are under pressure from declining exports to China, where the economy still remains sluggish even after easing of its COVID-19 restrictions, and weak sales of IT products, mainly semiconductors," said Park Sang-hyun, chief economist at HI Investment and Securities. "Moreover, global economic slowdown is materialising, so exports are likely to continue the falling trend for the time being." China has eased some of its most stringent restrictions to fight COVID-19 since last month. During the first 20 days of December, South Korea's exports shrank 8.8% from the same period a year ago. Those to China dropped 25.5%, outweighing gains in U.S. and EU-bound shipments, in likely the seventh consecutive falling month.

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