The Week Ahead: May 7-13, 2012

May 7, 2012 12:49 AM

Monday, May 7
Congress returns:
Both chambers return from another recess to deal with the same issues – budget/appropriations, surface transportation issues, energy, and a new farm bill.
Markets closed in the U.K.
Russia: Vladimir Putin is sworn in as president of Russia.
Syria: The country holds parliamentary elections under the constitution announced in February by Bashar al-Assad, the president, whose armed forces have been engaged in a violent crackdown on opponents of his rule.
Animal health and food safety: Panel discussion. National Coalition for Food and Agricultural Research hosts a discussion titled "The Direct Relationship between Animal Health and Food Safety Outcomes." Link
Alternative to budget sequester: Committee markup. House Budget Committee will mark up pending legislation, HR 4966 — Sequester Replacement Act of 2012.
Economic reports: Selected Interest Rates (Federal Reserve) | Consumer Credit.
USDA reports: Export inspections (AMS) | Crop Progress (NASS).

Tuesday, May 8
Primaries are held in North Carolina, Indiana and West Virginia: The big one is in Indiana which will see if longtime GOP Sen. Dick Lugar can win the primary against now-favored opponent Richard Mourdock.
Treasury, ITC nominations: Committee confirmation hearing: Senate Finance Committee (confirmation hearing on pending nominations. Nominations: Mark J. Mazur to be assistant secretary of the Treasury for tax policy; Matthew S. Rutherford to be assistant secretary of the Treasury for financial markets; Meredith M. Broadbent to be a member, US International Trade Commission.
Federal Reserve overhaul proposals: Subcommittee hearing. House Financial Services — Subcommittee on Domestic Monetary Policy and Technology hearing on pending legislative proposals that would overhaul the Federal Reserve System.
2012 Farm Bill - Specialty crop and nutrition programs: Subcommittee hearing. House Agriculture — Subcommittee on Nutrition and Horticulture hearing on portions of the 2012 farm bill, focusing on specialty crop and nutrition programs.
Commerce and trade with Asia-Pacific region: Subcommittee hearing. House Homeland Security — Subcommittee on Transportation Security titled "Building Secure Partnerships in Travel, Commerce and Trade with the Asia-Pacific Region."
Highway bill: Conference committee. House and Senate conferees will meet to consider legislation that would reauthorize federal highway programs. The Senate requested a conference and appointed conferees April 24. (The Senate amended the text of HR 4348 to contain the text of the Senate-passed bill - S 1813.) The House agreed to a conference and appointed conferees April 25.
Energy reports: Weekly National Petroleum Report (API).
Economic reports: ICSC-Goldman Store Sales | NFIB Small Business Optimism.

Wednesday, May 9
Markets closed in Russia.

Biofuels: The World Biofuels conference opens in Seville, Spain (until May 10), focusing on integrating such fuels into mainstream markets as well as technical and policy issues relevant to the industry.
'American Energy Initiative': Subcommittee hearing. House Energy and Commerce — Subcommittee on Energy and Power hearing. Topic: Environmental and Grid Reliability and Hydropower Development. Agenda: HR 4273 — Resolving Environmental and Grid Reliability Conflicts Act of 2012.
OMB nomination: Committee confirmation hearing. Senate Homeland Security and Governmental Affairs Committee confirmation hearing on the nomination of Joseph G. Jordan to be administrator, Office of Federal Procurement Policy, Office of Management and Budget.
Lending and investment by small banks: Subcommittee hearing. House Financial Services — Subcommittee on Financial Institutions and Consumer Credit focusing on the impact of provisions of the Dodd-Frank Act relating to the regulation of lending and investment activities of small banks.
Offshore oil drilling: Committee oversight hearing. House Natural Resources Committee oversight hearing titled "Evaluating President Obama's Offshore Drilling Plan and Impacts on Our Future."
Impact of high gas prices on small businesses: Committee hearing. House Small Business Committee.
U.S. foreign policy in the Middle East: Subcommittee hearing. House Foreign Affairs — Subcommittee on Middle East and South Asia hearing titled "Assessing US Foreign Policy Priorities and Needs Amidst Economic Challenges in the Middle East."
Energy reports: Weekly Petroleum Status Report (EIA) | Weekly ethanol plant production (EIA).
Economic reports: MBA Purchase Applications | Wholesale Trade.
USDA reports: Broiler Hatchery (NASS)

Thursday, May 10
Federal Reserve: Fed Chairman Ben Bernanke speaks at the Chicago Fed's conference on bank structure and competition.
Bank of England is expected to hold interest rates steady.
Developing unconventional energy resources: Subcommittee hearing. House Science, Space and Technology — Subcommittee on Energy and Environment.
2012 Farm Bill - Credit programs: Subcommittee hearing. House Agriculture — Subcommittee on Department Operations, Oversight and Credit.
Energy reports: Weekly US underground natural gas stocks (EIA).
Economic reports: Jobless Claims (Labor Dept.) | Weekly Mortgage Rates (Freddie Mac) | ICI weekly money market mutual fund data | International Trade | Import and Export Prices | Treasury Budget.
Transportation: Grain Transportation Report (AMS).
USDA reports: Export Sales (FAS) | | Latest US Agricultural Trade Data (ERS) | Crop Production (NASS) | World Agricultural Supply and Demand Estimates (WAOB) | Cotton, Grains, Oilseeds, and World Agricultural Production Data (FAS) Cotton: World Markets and Trade (FAS) | World Agricultural Production (FAS) | Grains: World Markets and Trade (FAS) | Oilseeds: World Markets and Trade (FAS) Season-Average Price Forecasts (ERS).

Friday, May 11

Chinese data on inflation, including the consumer-price index and producer-price index, are expected.
SEC Chair Mary Schapiro addresses the Investment Company Institute.
Italy auctions treasury bills.
EU economic forecast: The European Commission in Brussels publishes its spring economic forecast for 2012-13 for all 27 EU nations, plus the EU and euro area aggregates.
Economic reports: Producer Price Index | Consumer Sentiment.
USDA reports: Livestock and Meat Trade Data (ERS) | Peanut Prices (NASS) | US Agricultural Trade Data Update (ERS) | Oil Crops Outlook (ERS) | Rice Outlook (ERS) | Cotton and Wool Outlook (ERS).


NOTE: This column is copyrighted material, therefore reproduction or retransmission is prohibited under U.S. copyright laws.






Back to news


Spell Check

No comments have been posted to this News Article

Corn College TV Education Series


Get nearly 8 hours of educational video with Farm Journal's top agronomists. Produced in the field and neatly organized by topic, from spring prep to post-harvest. Order now!


Market Data provided by
Brought to you by Beyer