Top 5 Things to Watch

Grain Acreage and Stocks Reports Monday, Markets Closed Friday

(DTN/Progressive Farmer graphic)

OMAHA (DTN) -- Here are the Top 5 things the DTN Newsroom is tracking for the week of June 29. 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. Grain Stocks start week: Monday is the USDA annual Acreage and Quarterly Grain Stocks reports, with our flash report hitting DTN products right after the 11 a.m. data release. We'll have follow-up analysis through the morning leading up to our free live webinar discussing the report details and market reaction. Join DTN Lead Analyst Rhett Montgomery for an insightful review of latest USDA numbers at 12:30 p.m. As always, there will be ample time for questions. You can register for that free event here: https://ag.dtn.com/….

2. Markets closed Friday: U.S. commodity and stock markets will be closed for the July 4 Independence Day holiday. DTN market commentary will renew with late weekend quick take the evening of July 6 and our full schedule of market coverage starting with Early Word Grains report July 7. DTN Six Factors Strategy updates will be delayed until July 7 to allow for CFTC Commitment of Traders data, which will pause its usual Friday afternoon release due to Independence Day. Celebrate safely!

3. Will bears hold sway?: Bigger-than-expected Brazil corn production estimates, along with generally good crop growing weather and relatively normal export markets all add up to continued bearish pressure on major commodity markets. We'll watch through the week for any changes to the trend that's pushed corn and soybean contracts to new lows. Monday's Grain Stocks report could be a chance for an adjustment, but feelings are it could be neutral to bearish as well.

4. Cool, rain stays scattered: Another system moving through the Canadian Prairies will bring scattered showers to northern areas during the weekend. The front will sweep through most of the country this week, bringing chances of showers across the country. If the front stalls near the Gulf Coast those rain chances increase; if it moves through, chances are less. The U.S. Drought Monitor continues to improve, good news for most crop production areas except for too-wet areas in the South. For the latest thoughts on June and July forecasts, see our Ag Weather Forum here: https://www.dtnpf.com/….

5. Economic reports to watch: On Monday, at 8:45 a.m. Chicago Business Barometer PMI data are released, at 10 a.m. we'll have Grain Inspections reports followed by USDA Acreage and Grain Stocks report at 11 a.m. At 3 p.m. we'll have the USDA NASS weekly Crop Progress report including DTN analysis. Tuesday also kicks off at 8:45 a.m. with the S&P Manufacturing PMI for June. At 9 a.m. we'll see Construction Spending, Job Openings (JOLTS) and ISM Manufacturing numbers. At 2 p.m. the latest Fats and Oils and Grain Crushing reports are due. Wednesday reports begin at 7:15 a.m. with ADP Employment, then at 9:30 a.m. we'll see EIA weekly petroleum report including ethanol. At 2 p.m. Broiler Hatchery data is released. Thursday at 7:30 a.m. Grain Export Sales, Initial Jobless Claims, U.S. Employment report and Unemployment Rate, Hourly Wages, U.S. Trade Deficit for May are all released. At 8:45 a.m. the S&P Final Services PMI is out, followed by Factory Orders at 9 a.m. and Weekly Economic Index at 10:30 a.m. At 2 p.m. the latest Dairy Products and Slaughter Weekly reports hit. Friday, no reports due to Independence Day holiday.

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