Top 5 Things to Watch
Rain Systems, Grain Mergers and Trade Disputes
OMAHA (DTN) -- Here are the Top 5 things the DTN Newsroom is tracking for the week of June 11. Watch for coverage of these and other topics through the week on our subscription platforms as well as on DTNPF.com.
1. Weather systems get active: A persistent upper-level ridge of high pressure has dominated Canada for quite some time now, putting a lid on the jet stream and directing it northward. That has kept conditions rather stagnant for the last several weeks, focusing rain into the Plains states instead of the Corn Belt. DTN meteorologists expect that ridge to fall apart, creating a more "active" weather pattern that should gin up thunderstorms across more of the U.S. in the coming weeks. For details on the forecast see DTN Ag Meteorologist John Baranick's blog here: https://www.dtnpf.com/….
For continuing updates on how these systems, and weather around the globe, are expected to influence markets this week, check out our daily Market Weather Outlook video here: https://www.dtnpf.com/….
2. Brazil corn crop in crosshairs: USDA raised Brazil's current corn production expectations by 2 million metric tons in its June 9 report. But cool weather and frost potential looms, potentially taming those yield increases. (See https://www.dtnpf.com/…). We'll keep an eye on temperatures and weather reports from that country. For our full report on the latest World Agricultural Supply and Demand Estimates (WASDE), see DTN Senior Analyst Dana Mantini's comments here: https://www.dtnpf.com/….
3. Grain mergers: We'll be continuing to follow the commentary around the proposed merger of grain giants Viterra and Bunge. Already the Wheat Growers Association in Canada has expressed concern over the grain sourcing share the combined company would have.
4. Cattle under stress: Whether hot and dry, or torrential storms, the coming weather patterns are adding to livestock stress. Watch for our coverage on what to look for, and what to do, if conditions get tough on your herd.
5. Reports to watch: This week sees a number of market-critical commodity and economic reports that we'll either be reporting on directly or including in our commentary and analysis through the week. Monday we'll have USDA's weekly grain export inspections and the Crop Progress report. Tuesday sees the U.S. consumer price index for May announced at 7:30 a.m. CDT, and the Federal Reserve begins its two-day meeting. Wednesday we'll have the U.S. producer prices for May, the Energy Department's weekly inventory and a Fed rate announcement at 1 p.m. CDT. Thursday's news is packed with government reports: The USDA weekly export sales report, weekly U.S. jobless claims, U.S. retail sales and another update of U.S. Drought Monitor -- all at 7:30 a.m. U.S. industrial production rings in at 8:15 a.m., followed by U.S. Energy Department's natural gas storage at 9:30 a.m. and the USDA Livestock, Dairy and Poultry outlook at 2 p.m. All times CDT. Friday sees that latest U.S. index of consumer sentiment at 9 a.m.
Be sure and watch for the latest news at www.dtnpf.com, and follow and like our Facebook page at www.facebook.com/dtnprogressivefarmer
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