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Top 5 Things to Watch 04/27 05:02
More Scattered Rains With Possible Severe Weather, Tariff Talks Continue
We'll watch more expected scattered showers across many crop areas, which
many farmers may be willing to park the planter in exchange for needed soil
moisture.
By DTN Staff
OMAHA (DTN) -- Here are the Top 5 things the DTN Newsroom is tracking for
the week of April 27. Watch for coverage of these and other topics through the
week on our subscription platforms as well as on http://www.DTNPF.com.
Note that all report release and webinar times are Central Daylight Savings
Time unless otherwise noted.
1. Some drought relief, but not everywhere: A ridge will move into the West
late next week. Disturbances around the ridge will keep precipitation patterns
active. Multiple systems and fronts will continue to move through the Midwest
to close out April and start May in a busy overall pattern that could limited
planting in areas. A system on Monday and Tuesday may produce widespread severe
weather. Several more days of widespread showers and thunderstorms are forecast
for the Central and Southern Plains that will likely bring more rainfall to
needed areas, but also with potential for severe weather and delays to
planting. Temperatures may briefly fall behind the system, but should rise
across the Plains for later next week and weekend, particularly across the
north.
2. Wheat recovery awaits: Many wheat areas can use rainfall, particularly
South Dakota and Nebraska areas with 40% of the crop rated poor to very poor.
New crop prices continue to be stagnant, partially due to lower export bookings.
3. Tariff talks, or not: We're watching the conflicting reports on whether
the United States and China are actually in talks about lessening trade
tariffs, while reports grow that the U.S. and Japan are close to a trade deal.
4. U.S./Canada Relations skid: Trade news from the north is less positive as
reports increase of Canada efforts to find domestic or non-U.S. suppliers for
goods, while borders show a drop in truck crossings. Vacation areas in the U.S.
report a drop in Canadian tourist business. We're also watching the results of
Monday's election in Canada which will eventually determine whether the Liberal
Party and its leader, Prime Minister Mark Carney, remain in power.
5. Economic reports for the week: Monday we'll see 10 a.m. release of Grain
Inspections data and at 3 p.m. we'll have the latest weekly Crop Progress
report, including DTN analysis. Tuesday, 7:30 a.m. is release time of U.S.
Trade Balance, Retail and Wholesale Inventories data. At 8 a.m. the S&P
Case-Shiller Home Price Index is due, followed by the 9 a.m. release of
Consumer Confidence data. At 1 p.m. the latest Livestock and Meat Domestic Data
and Poultry Production reports. Wednesday reports start at 7:15 a.m. with ADP
Employment data. The latest Gross Domestic Product data is out at 7:30 a.m., as
is Personal Income and Spending numbers. At 9 a.m. is PCE and Core PCE Index
data for March. At 10 a.m. is the EIA Weekly Petroleum report, including
ethanol. At 2 p.m. Agricultural Prices and Poultry Hatchery numbers are out.
Thursday reports begin at 7:30 a.m. with Grain Export Sales and Initial Jobless
Claims numbers. At 8:45 a.m. is the S&P Final Manufacturing PMI. At 9 a.m.
Construction Spending data. At 1 p.m. is Commodity Costs and Returns figures,
then at 2 p.m. comes Fats and Oils, Flour Milling Products, Grain Crushings and
Slaughter Weekly data. Friday at 7:30 a.m. is U.S. Employment Report for April,
the Unemployment Report and Hourly Wages figures. At 9 a.m. is Factory Orders
data, then Weekly Economic Index at 10:30 a.m. At 2:30 p.m. is CFTC's
Commitment of Traders Report.
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https://www.dtnpf.com/agriculture/web/ag/videos/field-posts-podcasts,
https://www.buzzsprout.com/1019197/episodes and they're also available on
podcast hosting sites such as Apple Podcasts and Spotify.
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