Soybeans Rise in Chicago on Risk Fungal Disease May Threaten Midwest Crops

(Bloomberg) -- Soybean prices in Chicago rose on
speculation a deadly fungus threatens to spread into the
Midwest, damaging the second-biggest U.S. crop.

Asian soybean rust was confirmed last week in two counties
in southern Oklahoma, the most northern infestation of the
disease, which can destroy as much as 80 percent of infected
fields. Iowa State University said in a report last week there
is a 40 percent chance in the next 30 days that the fungus will
reach Iowa, the biggest grower.


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Canada homeowners less sensitive to rates-study

(Reuters) - "Recent financial innovation is playing a prominent role in
redefining the consumer and housing cycle in Canada and thereby
making the Bank of Canada's job more difficult," Derek Holt,
assistant chief economist at RBC, wrote in the report.




Ottawa began deregulating the mortgage insurance market
last year -- a latecomer to the process compared to other
countries. In June 2006, the national housing agency began
offering mortgage insurance for interest-only loans and for
amortizations of up to 35 years. Bank of Canada Governor David
Dodge initially opposed the changes, saying they could drive up
prices further in the already overheated housing market.


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Chile retail sales accelerate to 6.5 pct in June

(Reuters) - "The result, which implies an acceleration in the growth
rate and in retail sales, is associated with strength in
consumer spending and sustained growth."




CNC said despite the pickup, growth in the first half of
the year was below that of last year's 3.5 percent


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Most U.S. Stocks Drop on Lending Conern; Energy Shares, Exxon Mobil Fall

(Bloomberg) -- Most U.S. stocks declined, dragging
European shares lower, after a German bank's losses from
subprime mortgages spurred concern rising defaults will reduce
lending and end the boom in leveraged buyouts.

Financial shares fell to a 10-month low after Germany's
IKB Deutsche Industriebank AG said it scrapped an earnings
forecast because of ``massive uncertainty'' in the markets.
Exxon Mobil Corp., the world's largest energy producer,
retreated on a drop in oil prices from an almost one-year high.


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CORRECTED: RadioShack posts profit but sales weaken

(Reuters) - "The sales performance continues to be weak," said Tiffany Co, a director in the retail group with Fitch Ratings. She said declining sales would eventually cut into profitability.




Sales fell 15 percent to $934.8 million, short of analysts' estimates of $983.6 million. Sales at stores open at least a year, a key measure of retail performance, dropped 8.9 percent. RadioShack cited weaker wireless sales and the closure of 481 stores in 2006.


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Turkish Stocks Fall for Fifth Day, Led by Koc, Akbank Shares; Migros Gains

(Bloomberg) -- Turkey's benchmark stock index
dropped for a fifth day, its longest losing streak in seven
months. Koc Holding AS and Akbank TAS paced the decline.

The ISE National 100 Index lost 102.69, or 0.2 percent, to
51,459.22 in Istanbul as 50 shares fell, 30 rose and 20 were
unchanged. That is the longest run of declines since the six
trading days ended Jan. 10.


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UPDATE 1-Turkey's Akbank H1 net profit soars 35 pct

(Reuters) - Akbank, part-owned by Citigroup , turned a net profit
of 1.2 billion lira , it said in a statement.




Total loans grew 17.4 percent from the end of last year to
35.6 billion lira, with consumer loan growth of 19 percent.


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