Top 5 Things to Watch

By DTN Staff

OMAHA (DTN) -- Here are the Top 5 things the DTN Newsroom is tracking for the week of July 7. 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. Hurricane and floods: As of early Sunday morning, Tropical Storm Beryl was forecast to intensify as a hurricane again as it moves through the Gulf of Mexico, especially right before landfall early Monday morning on the Texas coastline. The National Weather Service stated after it moves inland, Beryl will accelerate farther northeastward and become a post-tropical cyclone. Heavy rainfall of 5-10 inches is expected, with localized amounts up to 15 inches, across parts of mid to upper Texas Gulf Coast and eastern Texas starting Sunday through Monday night, leading to flooding concerns. Beryl's rainfall is then projected Monday into Tuesday to be 3-5 inches for parts of the Lower and Middle Mississippi Valley. The exact track is a bit uncertain for this week, although at this time Beryl appears to then go through the Ohio River Valley and then the northeast. Depending on the path, the National Weather Service said this could lead to flash flooding in areas of the Corn Belt that already had several inches of rain in the last few days, or have a more heavy impact on the Missouri and Mississippi Rivers and tributaries. Southern portions of the Missouri River and tributaries are already continuing to rise as floodwaters move south from the Dakota/Minnesota and Nebraska/Iowa areas. Meanwhile, much of the West is under heat advisories or excessive heat warnings, with scorching triple-digit temperatures lasting into early this week. Hot weather is forecast to spread through the week across the northern tier of states while the South-Central stays on the milder end of temperatures.

To find more weather conditions and your local forecast from DTN, head over to https://www.dtnpf.com/…

2.Strategy updates delayed: Due to the Independence Day holiday schedule, which delayed the CFTC Commitment of Traders report, the DTN Six Factors Strategies will get their full weekly update Monday afternoon. That CFTC data is a critical piece of our tracking of noncommercial traders, or "specs" activity, which is one of the six key market factors in our analysis. Don't have access to our Six Factors view? Become a DTN subscriber here: https://www.dtn.com/…

3. WASDE Friday: July 12 is the July Crop Production and World Agricultural Supply and Demand Estimates (WASDE) reports. Watch midweek for our preview of the reports, as soon as market analyst expectations reports are in. There we'll review the numbers traders expect to see and add our own analysis. WASDE report coverage begins Friday right after the 11 a.m. reports release, and we'll have updates throughout the morning. Our free webinar on the reports, featuring DTN Lead Analyst Todd Hultman, goes live at 12:30 p.m. You can register for that webinar, including a question-and-answer session at the end, by going here: https://www.dtn.com/…

4. Crop Progress Monday: We'll pay special attention to this Monday's USDA NASS weekly Crop Progress report to see how rains, dryness and flooding have affected various crops, and we'll also see the latest on the 2024 wheat harvest.

5. Economic reports to watch: Monday we'll see the 9 a.m. release of Grain Inspections. At 10 a.m. we expect the Survey of Consumer Expectations, followed by 2 p.m. release of Consumer Credit and U.S. Ag Trade Update from ERS. At 2:30 p.m., the delayed CFTC Commitment of Traders report is out (with our Six Factors Strategies update soon following). At 3 p.m. we'll have the USDA weekly Crop Progress report, with our analysis of that soon after.

There are no official economic or markets reports Tuesday. Wednesday sees 9:30 a.m. Wholesale Inventories and the EIA Weekly Petroleum Status report, including ethanol production and stocks. At 2 p.m. we'll see latest Broiler Hatchery numbers. Thursday markets will reflect on 7:30 a.m. Grain Export Sales, Initial Jobless Claims, Consumer Price Index (CPI) and Core CPI. At 10:30 a.m., the Weekly Economic Index hits. At 1 p.m. we'll see monthly U.S. Federal Budget numbers. Friday starts with 7:30 a.m. release of Producer Price Index (PPI) and the Core CPI. At 9 a.m. we'll see the Consumer Sentiment report. At 11 a.m., the USDA Crop Production report and July WASDE is out, followed by 2:30 p.m. release of the CFTC's Commitment of Traders report.

Bonus DTN content: DTN Ag Policy Editor Chris Clayton talks to Field Posts Podcast Host Sarah Mock about what we're likely (and not likely) to see in terms of agricultural policy making before November, and what the candidates are promising might be in store for the term that follows. Clayton digs into the current Farm Bill language that passed out of the House Ag Committee, reactions from the industry and the Secretary of Agriculture, and discusses this bill's chances in the lame duck session later this year. He also discusses the evolving partisanship in the House and Senate Ag Committees, and how shifting majorities in Congress could affect ag policy going forward. Finally, he'll tackle the latest Supreme Court decision on Loper vs. Raimondo, and how the end of Chevron Deference might gum up the works in ag production for years to come. Then he'll check in on new OSHA heat rules, the purchase of an Illinois grain facility by Chinese interests, and so much more. 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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