Wednesday, January 12, 2011

Beige Book Release (Click to view)

"Reports from the twelve Federal Reserve Districts suggest that economic activity continued to expand moderately from November through December. Conditions were said to be improving in the Boston, New York, Philadelphia, and Richmond Districts. Activity increased modestly to moderately in the Cleveland, Atlanta, Chicago, St. Louis, Kansas City, and Dallas Districts. The economy of the Minneapolis District "continued its moderate recovery," while that of the San Francisco District "firmed further" in the reporting period leading up to the close of 2010. Conditions were generally said to be better in Districts' manufacturing, retail, and nonfinancial services sectors than in financial services or real estate." (Source: Federal Reserve Beige Book)







This Week in Petroleum (Click to view)



Refinery Output                 12/31/2010  1/7/2011   Chg    4 Week Avg
Percent Operable Utilization 88              86.4         -1.6     87.48

Stocks
Commercial                        335,266     333,112     -2154   337,123
Total Motor Gasoline           218,146     223,227     +5081   218,351
Jet Fuel                               44,088      44,094           6      43,929
Distillate Fuel Oil                 162,107     164,759      +2652 162,135

Days of Supply                  12/31/2010      1/7/2011  Chg   4 Week Avg
Crude Oil                            22.4              22.4         0      23
Gasoline                             23.7              24.6       0.9     24
Jet Fuel                              30.2              30.9       0.7    31
Distillate Fuel                      41.7               43         1.3    42

Demand 
Total                              19,117      19,018    -99   19,740
Gasoline                           8,853        8,819    -34    9,071
Jet Fuel                            1,376        1,487  +111  1,425
Distillate Fuel                    3,735        3,569  - 166    3,836


USDA Supply/Demand (Click to view)

Corn Production 12,447 Yield 152.8 (Carryout 745 vs 779 Est)
Soybeans Production 3,329 Yield 43.5 (Carryout 140 vs 156 Est)
Wheat Production 1,782 (Carryout 858 vs 849 Est)


Grain Stocks: (Click to view)
Corn Stocks Down 8 Percent from December 2009

Soybean Stocks Down 3 Percent
All Wheat Stocks Up 8 Percent
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The contents of any third-party letters/reports above do not necessarily reflect the opinions or viewpoint of G. Scott Hinton. They are provided for informational/educational purposes only.All sites refered to or displayed on this blog are available to anyone free of charge. The content of any message or post by G. Scott Hinton anywhere on this site is not to be construed as constituting market or investment advice. Such is intended for educational purposes only. Individuals should always consult with their own advisors for specific investment advice. This information is not to be construed as an offer to sell or a solicitation or an offer to buy commodities herein named. The risk of trading futures and options can be substantial.