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Crop Rebound, Pipelines All on Tap This Week

Here are the Top 5 things the DTN Newsroom is tracking for the week of Aug. 20. Watch for coverage of these and other topics through the week on our subscription platforms as well as on DTNPF.com.

1. Rebound crop: There seems little letup on the ongoing discussion on how well the 2023 corn and soybean crops have rebounded following recent rains. We'll continue to have reports from the field as we track grain fill and pod set, leading up the USDA's next World Agricultural Supply and Demand Estimates (WASDE) report Sept. 12. If you participated in our DTN Summit Series event Aug. 15, you know Gro Intelligence added a bit to the 177-bushel-per-acre average estimate on corn revealed during our Digital Yield Tour the week prior. Will those yields hold through August? Stay tuned.

2. Weather: The wall of hot weather taking hold across the country will be the most-watched weather factor, but we're also tracking Hurricane Hilary as it moves onto the West Coast and potentially up into the Pacific Northwest and Idaho, and on into the Canadian Prairies. An early view on the hurricane can be found in our Ag Weather Forum blog; watch for updates in that space as well. DTN Ag Meteorologist John Baranick's take is here: https://www.dtnpf.com/….

3. Pipeline dreams: Tuesday marks the beginning of hearings on the Summit Carbon Solutions pipeline, which is proposed to cross Iowa and into North Dakota. Summit wants to pipe carbon dioxide to be injected into the Bakken geology formation. The Iowa Utilities Board will hold a hearing in Fort Dodge to discuss the pipeline's permit, including Summit's request for eminent domain rights on parcels of land that have not signed easements.

4. Broadband update: USDA scheduled an update on its investments in rural broadband, something we watch closely here at DTN. We should have results of the latest report early in the week.

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U.S.-China Trade “Truce” + U.S. Fed Cuts Rates Again

Video: U.S.-China Trade “Truce” + U.S. Fed Cuts Rates Again


The market was hoping for a US-China trade deal, but we got a trade “truce” for now from the keenly awaited Trump-Xi meeting at the APEC Summit.
China commits to minimum purchase commitments of 12 MMT of U.S. soybeans during the “current season” and a minimum of 25 MMT annually through 2028.
U.S. Treasury Sec Bessent said other Asian countries have agreed to buy additional 19 MMT of US soybean.
Soybean futures trading above $11 now- they normally tend to rally to $12.
As expected, US Fed cuts interest rates by -0.25% again in October to 3.75%–4.00%. No further cuts promised for this year but trade looking out to the Dec FOMC.
The Bank of Canada cut interest rates to 2.25% but raised concern over trade war damage.
Soy meal futures, remarkably, have had 14 consecutive higher close sessions. A bull market in soybeans is a bull market in soy meal!
Cattle futures lower as funds unwind out of cattle for now due to Trump headlines and objective to lower beef prices.
All major stock indices climb to new record highs. It was Mag 7 reporting week, which had mixed results. But we now have the first $5 trillion company in Nvidia!