Top 5 Things to Watch

By DTN Staff

OMAHA (DTN) -- Here are the Top 5 things the DTN Newsroom is tracking for the week of May 4. Watch for coverage of these and other topics through the week on our subscription platforms as well as on www.DTNPF.com.

Note that all report release and webinar times are Central Daylight Savings Time unless otherwise noted.

1. Details, details: A sneak peek at first budget of the current administration hit late last week, with "details to come" according to White House spokespersons. Ag Secretary Brooke Rollins is expected to testify before Congress on the USDA budget Wednesday.

2. Mr. Carney comes to Washington: Wasting no time, newly elected Canadian Prime Minister Mark Carney is scheduled to meet with U.S. President Donald Trump on Tuesday. Will it be a conciliatory step toward trade resolution for the two ag trade partners, or a battle of wills (and will nots)?

3. Will Powell have willpower?: Of course, Fed Chairman Jerome Powell isn't omnipotent in interest rate decisions; rate changes are set by a vote of the full Fed board of governors. But there's sure to be a lot of commentary around the Federal Reserve's Open Market Committee meeting May 7. Most analysts expect little or no change, though pressure to cut rates has been strong from the White House.

4. View From the Cab profile: This week we'll give you a glimpse of one of our current View from The Cab series farmers, Ethan Zoerb of Nebraska. If you missed the profile on our other current series participant, Alabama's Stuart Sanderson, you can find that here: https://www.dtnpf.com/….

5. Economic reports for the week: Monday, at 8:45 a.m. S&P Final Services PMI data is released, at 10 a.m. the latest Grain Inspections reports are due. At 2 p.m. the Multivariate Core Trend Inflation data is released, then at 3 p.m. we'll have the latest USDA NASS Weekly Crop Progress report, including DTN analysis. Tuesday at 7:30 a.m. is the release of U.S. Trade Deficit numbers for March. At 2 p.m. Dairy Products and county estimates for corn, soybeans and sorghum are out. Wednesday at 9:30 a.m. we'll see EIA's Ethanol production and stocks, then at 1 p.m. the Fed monetary committee meets, followed by Chairman Powell's press conference. At 2 p.m. the Broiler Hatchery and Consumer Credit reports are due. Thursday starts with several reports at 7:30 a.m., Grain Export sales, Initial Jobless Claims and U.S. Productivity. At 9 a.m. the latest Wholesale inventories numbers are revealed, with the Weekly Economic Index at 10:30 a.m. At 2 p.m. we'll see Slaughter Weekly reports. Friday at 2 p.m. is the Agricultural Chemical Usage-Field Crops report, and at 2:30 p.m. the CFTC's weekly Commitment of Traders report.

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