Top 5 Things to Watch
Uncertain Weather, Market Response to Fed Interest Rate Decision
OMAHA (DTN) -- Here are the Top 5 things the DTN Newsroom is tracking for the week of August 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 times are Central Daylight Time (CDT) unless otherwise noted.
1. Weather Models Shrug: Things look a bit uncertain for much of farm country next week. A front could bring scattered showers and a brief cool down to many areas, but where it stalls and for how long leads to an uncertain temperature forecast. Northern Plains should be warm to hotter than normal, the Delta region appears hot and drier. There's a chance of cooler, wet weather in the Canadian Prairies, which would benefit drought-stressed crops.
2. Stock Market Responses: We'll watch through the week on how markets respond to the Fed's decision to hold the ground, for the moment, on interest rates. As more indicators show improvement in inflation and some stability in the economy, as DTN Editor Emeritus Urban Lehner notes in his current An Urban's Rural View, it's getting tougher not to lower rates. Will the market begin to bake in a rate drop over the next few weeks? We'll be watching. To read Lehner's thoughts about September rate cuts, go here: https://www.dtnpf.com/…. DTN Lead Analyst Todd Hultman also weighs in on the Fed decision, and its influence on commodity prices and farm expenses, in the most recent Todd's Take column, found here: https://www.dtnpf.com/….
3. Land Rate Numbers: It's time for USDA to update land and rental rate numbers, and we'll be digging into the trends.
4. Veepstakes and Ag: Like most of the nation we'll be watching for the reveal of choice for the Democratic Vice President candidate, to see how that lineup squares off against the GOP ticket and explore any signs of what that means for farming, trade and agriculture in general.
5. Economic Reports This Week: A lighter week for economic, trade and other reports. Monday, we start at 8:45 a.m. with S&P Final Services PMI, at 10 a.m. is the Grain Inspections numbers and at 2 p.m. the latest Dairy Products report is released, followed by the 3 p.m. release of the latest Crop Progress report. Tuesday, we'll only have the U.S. Trade Balance report at 7:30 a.m. Wednesday starts with the 9:30 a.m. release of EIA Weekly Petroleum Status, including ethanol production and stocks. At 11 a.m. are the Livestock and Meat International Data, and Consumer Credit and Broiler Hatchery reports at 2 p.m. Thursday numbers include the 7:30 a.m. Grain Export Sales and Initial Jobless Claims, the 9 a.m. release of Wholesale Inventories and the 9:30 a.m. Weekly Economic Index announcement. Friday we'll have the 2:30 p.m. CFTC Commitment of Traders report.
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