OMAHA (DTN) – Here are the top 5 things the DTN Newsroom is tracking the week of November 19th. Look for coverage of this and other topics throughout the week on our subscription platforms and at www.DTNPF.com.
Note: All times listed below are in Central Standard Time (CST) unless otherwise noted.
1. Short Thanksgiving Market Week: As we collect stories for the week, families across the country are gathering to give thanks for 2023. We hope that it was a positive year for our readers and their families, despite the many challenges the year brought with it. DTN’s holiday coverage schedule will be as follows: Markets will open and close as usual on Wednesday, we will have normal market closing videos and six-factor strategy updates for DTN subscribers. On Thursday, US markets are closed but Canadian markets are open, so Canadian DTN analyst Cliff Jamieson will have some more market updates. On Friday, grain and livestock futures markets open at 8:30 a.m.; We will post comments on Early Word Grains and Before the Bell Grains the morning before opening. Most grain and livestock futures markets close at 12:30 p.m. We will not have video of the market closings this afternoon and the CFTC will not release updated position data until November 27th.
2. Ag Summit Reminder: There is still time to register for the 2023 DTN Virtual Ag Summit on December 5-6. We will hold sessions on a range of business-critical topics, including interest rates, changing farmland values and global economics. To register for the summit, go here: https://dtn.link/….
3. Holiday Cold Snap: Rainy weather over the weekend of November 18 will bring colder air for the holiday and the following weekend. DTN Ag meteorologist John Baranick notes that temperatures could be even lower than current estimates. He adds that the decline is likely to continue until the first few days of December, when temperatures are expected to be milder. El Nino typically means a mild December in the U.S., and Baranick says the weather models have a very “El Niño look” at least through the middle of the month. This is not good news for winter wheat.
4. South America to watch: Traders continue to monitor weather and crop conditions in South America, particularly Brazil. Conditions are expected to become wetter there in the south and drier in the northern states. Argentina has experienced erratic rainfall recently, but is still in much better shape than in 2022.
5. Economic Reports to Watch: Monday – The U.S. Leading Indicators Index will be released at 9 a.m., followed by the USDA weekly grain export inspections report at 10 a.m. and crop progress at 3 p.m. On Tuesday the report on October US existing home sales will be released at 9 a.m. The minutes of the last FOMC meeting will be released at 1 p.m. Weekly U.S. jobless claims and durable goods orders for October will be released at 7:30 a.m. on Wednesday. At 9:30 a.m. the U.S. Department of Energy’s weekly inventory report is released, followed by natural gas storage at 10 a.m. and the USDA’s monthly cold storage report at 2 p.m. The US futures markets will be closed on Thursday for Thanksgiving. USDA weekly export sales are released at 7:30 a.m. on the shortened market day Friday
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