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Top 5 Things to Watch
Sunday, July 21, 2024 4:56AM CDT

OMAHA (DTN) -- Here are the Top 5 things the DTN Newsroom is tracking for the week of July 21. 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. Policy stagnation has real costs: Can Congress create and pass a farm bill in what counts for a functioning government these days? We'll stay on it. For an excellent take on the potential real costs of kicking the FB can down the gravel lane, see Ag Policy Editor Chris Clayton's latest blog here: https://www.dtnpf.com/…. If your living for the next couple of years depends on the sale of commodity crops, perhaps share it with your representatives.

2. Crop condition angst: It may seem like a stuck record, but crop reports are the seasonal tune this time of year. Attention is on crop condition, both from official USDA numbers (USDA NASS weekly Crop Progress are released Monday 3 p.m.) and unofficial field reports. Usually, regional flooding or even severe storms are horrible for a specific area, but usually don't put pressure on the overall crop. Add up enough of those spots, however, particularly in key corn and soybean producing areas, and it pays to pay attention. We'll be doing just that as the week progresses.

3. Severe weather eases slightly: We're expecting to see a break from the severe weather for a lot of the Corn Belt, though the South, particularly Alabama, may see storms. The next ridge to the west will raise temperatures in northern Midwest, so it will be warmer in Minnesota and Wisconsin, with slightly lower temperatures in the Central United States. For Canada, the ridge spells continued dryness in the southern Prairies and east until the next trough can move deeper into the Prairies, likely not until the July 26 weekend. After the trough passes through, longer-range forecasts have the heat ridge returning for the end of July and early August. The U.S. Corn Belt is generally in good shape in terms of soil moisture, thought excess moisture and damage from earlier floods remain issues in isolated areas.

4. Tar spot spreads: The disease of the year so far, tar spot, is showing up in an increasing number of fields. We'll be watching it and the possibility of aphids in key areas.

5. Economic reports to watch: Monday, latest grain inspections numbers are at 10 a.m. At 2 p.m. we'll see U.S. Bioenergy Statistics, and the USDA NASS weekly Crop Progress report, and our analysis of it, at 3 p.m. Tuesday starts with Existing Home Sales at 9 a.m. At 2 p.m. USDA releases Poultry World Markets and Trade figures, Chicken and Egg Production and Milk Production. Wednesday starts with 9 a.m. New Home Sales figures, then 9:30 a.m. release of EIA Petroleum Status, including ethanol. At 2 p.m. we'll see the latest Broiler Hatchery figures. Thursday kicks off at 7:30 a.m. with Grain Export Sales, Initial Jobless Claims, Second Quarter GDP, Durable Goods Orders, U.S. Trade Balance and Retail and Wholesale Inventories. Friday sees the 7:30 a.m. release of Personal Income and Spending and PCE Index for June. At 9 a.m. we'll see Consumer Sentiment figures. Then at 2 p.m. is the latest Farm Production Expenditures and the 2:30 p.m. CFTC Commitment of Traders report. Are the short-sellers still hanging on?

Bonus DTN content: DTN Environmental Editor Todd Neeley talks to Field Posts Podcast Host Sarah Mock about the Renewable Fuel Standard delays, the announced levels that have led to a few biodiesel plant closures, and updates out of California on E-15 that might provide some relief in an uncertain market. He'll also dive into the current state of play for SAF, digging into the potential opportunity, the timeline, and what technologies and policies are still needed to make the market a reality. He also digs into how the recent Supreme Court decision on Chevron deference might affect the biofuels space.

You can hear 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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