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May WASDE, A North Dakota View and Weather

Here are the Top 5 things the DTN Newsroom is tracking for the week of May 7. Watch for coverage of these and other topics throughout the week on our subscription platforms as well as on DTNPF.com.

1. May Grains Report, WASDE on Friday: The latest World Agricultural Supply and Demand (WASDE) report drops at 11 a.m. CDT. This is the month when USDA shifts crop years, so there is typically a bit of adjusting to production numbers. DTN Lead Analyst Todd Hultman will have a report preview ahead of the actual report; he will hold an hour-long webinar discussing the report's effect on markets at 12:30 CDT on Friday. To register for the webinar, go here: https://www.dtn.com/….

2. Global water issues: Farm leaders from around the world are gathering in Lincoln, Nebraska for the 2023 Water For Food Global Conference. We'll cover the event which tackles issues around the ongoing conflict between urban and rural/farm uses of water, and the challenges brought on by climate change, soil degradation, water access and economic disparity.

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A Reopening of the Strait of Hormuz is Bearish Long Team Diesel/Fertilizer!

Video: A Reopening of the Strait of Hormuz is Bearish Long Team Diesel/Fertilizer!


The Iran/U.S. peace deal and the reopening of the Strait of Hormuz is bearish farm diesel prices and fertilizer.
A peak in crude oil = a peak in soy oil futures + a peak in canola futures short-term.
The SpaceX IPO increased Elon Musk’s net worth by $300 billion in 1 day more than what Warren Buffet made in his entire lifetime! WOW!
The NEW Fed chairman Kevin Warsch was too hawkish and hates providing guidance and visibility on interest rates. U.S. $ Index breaks above $100.
Cattle on Feed BULLISH!
S&P Global shock- the U.S. could lose 30 million corn acres by 2050. They say we need E15 mandated now!
China has started buying U.S. soybeans, but we need more volume.