Top 5 Things to Watch
Warmer Weather Brings Mud, Flood Potential
OMAHA (DTN) -- Here are the Top 5 things the DTN Newsroom is tracking for the week of Feb. 23. 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 Standard Time unless otherwise noted.
1. USDA Annual Outlook Forum: The annual USDA Outlook Forum, which sets the tone for the agency's year ahead, is Feb. 27-28. We'll have reporting from the event, including the 2025 Agricultural Economic and Foreign Trade Outlook from USDA Chief Economist Seth Meyer.
2. Corn flips to May: This week the May corn futures contract replaces the March contract as the reference board for cash corn trade. The 20-day moving average for the May contract was 5.03 1/2. The DTN National Corn Index, based on actual cash corn bids from around the country, closed last week near $4.61.
3. Warmer winter weather: Relief is coming from frigid conditions. But the rapid flip in temperatures for some areas brings the chance of flooding and the challenge of mud to parts of the country. Our latest forecasts on that can be found in the Ag Weather Forum blog here:https://www.dtnpf.com/…
4. South America improves: Crop conditions south of the equator continue to be the driver in grain markets. While Brazil's safrinha (second-season) corn crop is late, it looks like planting could catch up this week. See the blogs by DTN meteorologists on the latest South American conditions at https://www.dtnpf.com/….
5. Economic reports for the week: Monday the Grain Inspections data is out at 10 a.m., followed by 2 p.m. Chicken and Eggs report. Tuesday at 8 a.m. the Food Price Outlook and S&P Case-Shiller Home Price Index reports are due. At 9 a.m. we'll see latest Consumer Confidence numbers. Wednesday there is the 9 a.m. New Home Sales report and the 9:30 a.m. release of EIA Weekly Petroleum status, including ethanol. At 2 p.m. we'll see both Broiler Hatchery and lates Crop Values data. Thursday starts at 7:30 a.m. with Grain Export Sales, Initial Jobless Claims, Durable Goods Orders and 4th Quarter GDP data. At 8 a.m. the Outlook for Agricultural Trade figures are released (and USDA economists discuss them at the Ag Outlook Forum) At 9 a.m. we'll see Pending Home Sales, followed by 10:30 a.m. release of the Weekly Economic Index. At 2 p.m. we'll see Slaughter Weekly data. Friday at 7:30 a.m. is the release of Personal Income and Spending, PCE and Core PCE Index numbers, plus the latest U.S. Trade Balance and Retail and Wholesale Inventories data. Existing Home Sales numbers are due at 9 a.m., along with Consumer Sentiment data. At 2 p.m. is Livestock and Meat Domestic Data, Agricultural Prices, Egg Products and Poultry Slaughter. At 2:30 p.m. the CFTC's Commitment of Traders report hits.
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