Top 5 Things to Watch

Flooding, Hot Weather, Annual Acreage Report, Possible SCOTUS Decisions

(DTN/Progressive Farmer graphic)

OMAHA (DTN) -- Here are the Top 5 things the DTN Newsroom is tracking for the week of June 23, the first full week of summer. Watch for coverage of these and other topics through the week on our subscription platforms as well as on Note that all report release times are Central Daylight Time (CDT) unless otherwise noted.

1. Summer heat, floods from heavy rains: Parts of the Upper Midwest are dealing with flooding from heavy rains from a stalled front this past week. Governors in Minnesota, Iowa and South Dakota declared disasters during the weekend. See DTN story about the floods at…). We'll continue to watch those areas. Downstream flooding is also expected this week in Iowa and Nebraska along the Missouri River. We're also watching a frontal boundary that will move through these flooded areas Monday and Tuesday with scattered showers with another coming through Thursday and Friday. Showers and thunderstorms may be hit-or-miss, but any hits would only prolong the damage. South and east of the front, summer has kicked off with hot weather and rapid decrease in soil moisture, and a flash drought becoming more of an issue across a wide expanse of the Midwest. See more about the hot weather this summer at….

2. Acreage reports: On Friday, June 28 we'll have the USDA annual Acreage and June 1 Grain Stocks report, which hits DTN products right after 11 a.m., and we'll have follow-up analysis through the morning. DTN's free webinar, with DTN Lead Analyst Todd Hultman, will discuss both reports at 12:30 p.m. You can register for that free event here:…. Hultman's preview of the reports will be out Wednesday, June 26.

3. SCOTUS rulings?: DTN is keeping a close eye on the Supreme Court to see if any rulings will be made by the end of the week on some key cases with an ag impact.

4. National Wheat Foundation tour: DTN Crops Editor Jason Jenkins will be attending a farm tour organized by the National Wheat Foundation on Tuesday; the event will cover a range of topics, from conservation practices to farm programs to crop insurance.

5. Economic reports to watch: Monday has no government economic reports. At 10 a.m., is Grain Inspections, and at 2 p.m. Poultry Slaughter numbers. At 3 p.m. is the USDA NASS weekly Crop Progress report. CFTC will update its Commitment of Traders report on Monday -- it was delayed due to the Juneteenth holiday that was on June 19. Tuesday starts 8 a.m. with the Case-Shiller Home Price Index, followed 9 a.m. by the consumer confidence index report. On Wednesday, at 9 a.m. is New Home Sales, 9:30 a.m. is EIA's Weekly Petroleum Status, including ethanol, and at 2 p.m., Broiler Hatchery report is released. Thursday is a busy day: at 7:30 a.m. is Grain Export Sales, Initial Jobless Claims, 1st Q GDP, and Durable Goods reports; at 9 a.m. Pending Home Sales, then at 10:30 a.m. is Weekly Economic Index. At 2 p.m. is the Hogs and Pigs report. Friday sees at 7:30 a.m. the Personal Income and Spending and PCE Index; 9 a.m. the Consumer Sentiment is released. At 11 a.m. the USDA annual Acreage and June 1 Grain Stocks report is released, and at 2 p.m. Agricultural Prices followed at 2:30 p.m. the CFTC Commitment of Traders report.

Bonus DTN content: Want to know more about the 2024 cattle market? If you missed the recent DTN Ag Summit Webinar or would like to relisten to DTN Livestock Analyst ShayLe Stewart's presentation, you can hear it on the most recent Field Posts podcast at…. Check out our other podcasts also at that site.

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