OMAHA (DTN) -- Here are the Top 5 things the DTN Newsroom is tracking for the week of Nov. 12. Watch for coverage of these and other topics through the week on our subscription platforms as well as on www.DTNPF.com.
Note: All times listed below are in Central Standard Time (CST) unless otherwise mentioned.
1. Ag Summit launch: Watch DTN pages and the November Progressive Farmer magazine for announcements on the 2023 DTN Virtual Ag Summit, December 5-6. We'll have sessions on a number of business-critical topics from changing farmland values to finances, interest rates and global economics. To register for the Summit, go here: https://dtn.link/…
2. Southern rains won't fix low rivers. Warm weather may break some records this week, then cooler weather should bring scattered rains. But they're unlikely to significantly change low river levels in the Mississippi value, which we'll continue to track.
3. Markets swing on record estimate: Grain markets had mostly been watching South America crop conditions until the November WASDE report hit, with USDA's expectation of a new US average corn yield record of 174.9 bushels per acre, besting the 2016 number. We'll be watching what catches the trade's attention throughout the week. For our latest WASDE review, from DTN Grains Analyst Dana Mantini, here: https://www.dtnpf.com/…. For a full podcast on the report, and market expectations in the coming weeks, check out Episode 171 of our Field Posts podcast, featuring lead analyst Todd Hultman, here: https://www.dtnpf.com/….
4. Dicamba ruling imminent: We reported on Friday that lawyers expect a new EPA ruling on dicamba use (https://www.dtnpf.com/…), which may be out by the time you read this. The Center for Biological Diversity, National Family Farm Coalition, Pesticide Action Network and the Center for Food Safety filed the lawsuit over dicamba's drift potential in December 2020. Sources tell DTN the goal has been to have new dicamba rules ahead of the 2024 season.
5. Economic reports to watch: On Monday the USDA weekly report of grain export inspections is set for 10 a.m., followed by a release of the federal budget for October at 1 p.m. and USDA's Crop Progress report at 3 p.m.
Tuesday features the U.S. Labor Department's consumer price index for October at 7:30 a.m.
Wednesday sees the U.S. producer price index and retail sales reports for October at 7:30 a.m. At 9:30 a.m. the U.S. Energy Department's weekly inventory report will be out with updated data after last week's absence due to system upgrades. The National Oilseeds Processors Association will have an estimate of members' soybean crush later Wednesday morning, and at 2 p.m., USDA will have new cost of production forecasts for 2023.
Thursday starts with USDA's weekly export sales report at 7:30 a.m., the same time as U.S. weekly jobless claims and an update of the U.S. Drought Monitor. U.S. industrial production is set for 8:15 a.m., followed by the Energy Department's report on natural gas storage at 9:30 a.m. At 2 p.m., USDA will have its Livestock, Dairy and Poultry Outlook.
Friday we'll watch U.S. housing starts report for October, due at 7:30 a.m. and USDA's monthly cattle on-feed report for November 1, set for 2 p.m.
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