Top 5 Things to Watch
More Wet Weather, Cyberattack Recovery, Holiday Market Break
OMAHA (DTN) -- Here are the Top 5 things the DTN Newsroom is tracking for the week of June 30. 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. Independence Day market holiday: U.S. Markets will be closed Thursday; we'll resume market coverage, including our daily videos, early Friday morning. Canadian markets also will be closed on Canada Day on July 1.
2. Flooding updates, hurricane develops: More rain is expected through the week, which may be bad for areas already dealing with flooding, but good for areas that had been dry. DTN models increase rain chances with every fresh run. For Crops Technology Editor Pam Smith's look at crop survival under flood conditions, and other coverage on what to do about flooded areas, see her blog posts at https://www.dtnpf.com/… and https://www.dtnpf.com/…. We're also watching what might be the U.S. impact of the first hurricane of the season in the Atlantic Ocean -- Hurricane Beryl rapidly strengthened from a tropical depression on Friday to a Category 3 hurricane by Saturday evening as it heads towards the Caribbean. The major hurricane is currently forecast by the National Hurricane Center to become an "extremely dangerous" Category 4 hurricane when it hits the Windward Islands.
3. More on SCOTUS rulings: We'll continue to dig into how the latest Supreme Court decisions may influence farm and agricultural interests. For our first look at June 28 rulings, see here: https://www.dtnpf.com/… and DTN Ag Policy Editor Chris Clayton's blog at https://www.dtnpf.com/….
4. Cyberattack recovery: We're continuing to follow the slow recovery of thousands of automobile and farm equipment dealerships in the U.S. and Canada that were affected when CDK Global was hit with a ransomware cyberattack on June 19. The dealerships use CDK's software system in their businesses. Farmers were affected after these companies were forced to shut down their computers after the attack and do everything manually temporarily. See our story https://www.usatoday.com/….
5. Economic reports to watch: Monday, at 8:45 a.m. the S&P Manufacturing PMI is out. At 9 a.m., Construction Spending and ISM Manufacturing reports hit. Grain Inspections come out at 10 a.m., 2 p.m. brings the Grain Crushings and Co-products, and Fats and Oils report. At 3 p.m. we'll have the USDA Nass Crop Progress Report, where many will be looking at crop conditions from the areas of flooding and heavy rainfall recently. Tuesday is a light day, with only the 9 a.m. Job Openings report to consider. Wednesday makes up for that, starting with the 7:15 a.m. ADP Employment figures, 7:30 a.m. Initial Jobless Claims and U.S. Trade Deficit reports. At 8:45 a.m. the S&P Services PMI is out, followed by 9 a.m. release of Factory Orders. At 9:30 a.m. we'll see the EIA Weekly Petroleum Status, including ethanol numbers. At 1 p.m. there is the anticipated release of the Minutes of June FMOC (Fed) meeting. At 3 p.m. we'll see the latest Broiler Hatchery and Dairy Products numbers. Thursday, July 4, there are no economics reports and markets are closed. Friday hopefully everyone rejoins the markets with all fingers accounted for. At 7:30 a.m. we'll have Grain Export Sales, U.S. Unemployment, Unemployment Rate and Hourly Wages figures. At 2:30 p.m. we'd normally see CFTC Commitment of Traders reports, but that may be delayed until Monday due to the holiday break. The weekly update of U.S. Drought Monitor Map could also be delayed.
Bonus DTN content: DTN Crops Editor Jason Jenkins talks to Field Posts Podcast Host Sarah Mock about soybean cyst nematode and dives deep into the current state of SCN management across the country. He discusses the damage these pests do, how to assess your fields, and next steps growers can take to get a handle on populations and possible treatment methods. You can hear it on the most recent Field Posts podcast at https://www.dtnpf.com/…. Check out our other podcasts also at that site.
Watch for the latest news at www.dtnpf.com, and follow and like our Facebook page at www.facebook.com/dtnprogressivefarmer. You can find our news on Instagram as well. Give us a follow @dtn.agnews
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