This Week to Determine If Congress Can Reach Accord on Another Aid Package

Posted on 09/28/2020 4:57 AM

Senate gearing up for hearings, vote on Supreme Court nominee Amy Coney Barrett


Washington Focus


Both chambers are taking Monday off for Yom Kippur. When the Senate returns Tuesday, it will vote on a motion to invoke cloture on a short-term spending bill (HR 8337).


Hopes for another coronavirus/stimulus package continue, even as lawmakers remain far apart on the price tag. House Democrats are putting together a $2.4 trillion package, a tally still too high to gain support from congressional Republicans or the White House.


     House Speaker Nancy Pelosi (D-Calif.) and Treasury Secretary Steven Mnuchin spoke on the phone Friday after signaling that they wanted to restart aid negotiations, and they “agreed to continue their conversation in the days ahead,” according to Drew Hammill, Pelosi’s spokesman. "I trust Secretary Mnuchin to represent something that can reach a solution and I believe we can come to an agreement," Pelosi said Sunday on CNN's State of the Union. "However, at some point, the public is going to have to see why $2.2 [trillion] or, now, $2.4 — perhaps — trillion dollars is necessary. Because the president's denial of the virus and just resistance to doing anything to crush it has made matters worse in so many ways."


     The U.S. airline sector will be closely watched to see if a government relief package arrives before Oct. 1. While airlines have already lowered their headcount through voluntary retirement programs, and some are holding off on furloughing pilots, weak fall booking trends make at least some job cuts likely, putting pressure on lawmakers and the White House for additional aid.


The Senate no later than Wednesday will consider and very likely pass the House-passed version of the stopgap spending bill to fund the government through Dec. 11. Election results, if known by that date, will determine the lame-duck session.


The first of three presidential debates takes place Tuesday (Sept. 29) in Cleveland. The other two are Oct. 15 in Miami, and Oct. 22 in Nashville, Tenn. The vice-presidential debate is Oct. 7 in Salt Lake City, Utah.


     They all start at 9 p.m. ET and will run 90 minutes without commercial interruption.


     Moderators: Fox News anchor Chris Wallace is the first presidential debate moderator; Steve Scully, a senior executive producer and political editor of C-Span Networks, is the second; and Kristen Welker, an anchor and White House correspondent for NBC News, is the final moderator. The vice-presidential debate will be moderated by Susan Page, the Washington bureau chief of USA Today.


    The first and third presidential debates will be divided into six segments, each on topics to be selected by the moderator and announced at least one week before the debate. The second presidential debate will be a town-hall style meeting in which the candidates will field questions from Florida voters.


     Wallace selected the topics for the first debate, which include:


     • Candidates’ records
     • Supreme Court
     • Covid-19
     • Economy
     • Race and violence
     • Integrity of the election


President Trump on Saturday nominated federal appeals court Judge Amy Coney Barrett of Indiana to succeed Justice Ruth Bader Ginsburg. Barrett spent 16 years as a legal academic before President Donald Trump appointed her to a federal appeals court in 2017. Barrett, born in 1972, was a law professor at the University of Notre Dame in Indiana, where she went to law school. She is the first Indiana woman to sit on the 7th Circuit, which is based in Chicago and covers Indiana, Illinois and Wisconsin. And if confirmed, she would be only the fifth female Supreme Court justice, and would join two female justices currently on the high court. Barrett was born and raised in Louisiana. She and her husband, Jesse, a former assistant U.S. attorney in Indiana, have seven children, including two children adopted from Haiti and one special needs child. The new justice will push the court further right, extending the majority of conservatives to 6-3, and possibly entrenching a right-leaning court for decades.

     President Trump wants another judge installed before the Nov. 3 election in case a dispute over the results lands before the court, telling reporters at the White House: “I think this will end up in the Supreme Court. And I think it’s very important that we have nine justices.”


     Timeline for Barrett: Because Barrett has already been vetted, her nomination can move quickly. Sen. Lindsey Graham (R-S.C.), who leads the Senate Judiciary Committee, the panel tasked with vetting judicial nominees, said four days of confirmation hearings will begin Oct. 12 and that the committee should clear Barrett's nomination by Oct. 26. That would leave the full Republican-led Senate with roughly a week to confirm Barrett in the final days of the presidential campaign. Election Day is Nov. 3. “There’s plenty of time,” Sen. John Kennedy (R-La.), another member of the Judiciary Committee, said. Senate Minority Whip Dick Durbin (D-Ill.) said Sunday that the Democrats can “slow” the Supreme Court confirmation of Barrett “perhaps a matter of hours, maybe days at most.”


     The first day of the hearings will feature opening statements from members of the panel and Barrett. After that, senators will be able question Barrett about her stance and beliefs on a host of issues that could come before the high court. Then, testimony will be provided by legal experts and those who know Barrett. Graham, speaking on Fox News on Saturday, said after the week of hearings, her nomination will be held in the committee for one week — consistent with the committee's procedures — before passing the nomination to the full Senate. Next week, Barrett is scheduled to meet one-on-one with members of the Senate. These meetings will allow senators to both question Barrett on her opinion on issues and give them the chance to get to know the nominee.

     Senate Majority Leader Mitch McConnell (R-Ky.) previously noted Justice John Paul Stevens was approved by the Senate 19 days after the White House formally sent his nomination in 1975 and Justice Sandra Day O'Connor's nomination took only 33 days to be approved by the body in 1981. "The Senate has more than sufficient time to process a nomination. History and precedent make that perfectly clear," he said. The average length of a Supreme Court nomination since 1975 has been 70 days from the submission of the nomination to a final Senate vote.


Hearings and Events This Week


House Oversight and Reform questions drug company CEOs on Wednesday and Thursday on high drug prices. Also on Thursday, Senate Commerce marks up subpoenas for Facebook's Mark Zuckerberg, Twitter's Jack Dorsey and Google and Alphabet's Sundar Pichai to testify. And on Friday, Health and Human Services Secretary Alex Azar will testify before House Oversight on the pandemic response.


Monday, Sept. 28

     • Ag Outlook Forum by Agricultural Business Council of Kansas City and Agri-Pulse. Speakers at the Kansas City event include Gregg Doud, the U.S. Trade Representative’s chief agricultural trade negotiator; Deputy Agriculture Secretary Steve Censky; USDA Chief Economist Rob Johansson; and former USDA Secretary Tom Vilsack.
     • Supreme Court. CQ RollCall and FiscalNote virtual discussion about likely outcomes for the push to fill the late Supreme Court Justice Ruth Bader Ginsburg's seat and impacts for organizations and industries, part of the "State of the Supreme Court" series.

     • U.N. German Marshall Fund of the United States virtual discussion on "Reinforcing Multilateralism: The U.N. at 75."

     • Tibet. Center for Strategic and International Studies webcast on "The Geopolitical Significance of Tibet in the Context of India, China and the U.S."

     • Presidential debates. Brookings Institution webinar on "Do Presidential Debates Matter?"

     • Cybersecurity. The Organization of American States (OAS) virtual Cybersecurity Symposium, with former Homeland Security Secretary Kirstjen Nielsen delivering remarks.

     • 2020 elections. New Institute news conference on "The Next Target: America - The Fraudulent Election in South Korea, China's Meddling, and Implications for the Upcoming U.S. Presidential Election in November 2020."

     • Law enforcement. Center for Security Policy (CSP) virtual discussion on "Restoring Law & Order: Law Enforcement Options for Responding to Today's Insurrectionists."

     • Covid-19. National Press Club virtual discussion with NIH Director Francis Collins on "the latest Covid-19 therapeutic and vaccine developments, and how the agency is helping to promote research and engagement in communities hardest hit by Covid-19."

     • Covid-19 and the EU. George Washington Elliott School of International Affairs virtual discussion with German Ambassador to the United States Emily Haber on the impact of Covid-19 on Germany and the European Union.

Tuesday, Sept. 29

      • First of three presidential debates between president Donald Trump and former vice president Joe Biden takes place at Case Western Reserve University in Cleveland.
      • Federal Reserve. New York Fed President John Williams speaks at the 2020 Treasury Market Conference, with Fed Vice Chair Richard Clarida to also participate along with SEC Commissioner Elad Roisman and CFTC Chairman Heath Tarbert.

      • China issues. Johns Hopkins University Paul H. Nitze School of Advanced International Studies (SAIS) sixth annual virtual China-Africa Research Initiative conference.

      • Energy issues. United States Energy Association (USEA) webinar on "Geothermal Innovation for Economic Growth in East Africa."

      • Spent nuclear fuel. Henry L. Stimson Center webinar on "What is the Status of Spent Nuclear Fuel Globally?"

      • Ex-Im on medical supplies. Export-Import Bank (Ex-Im) meeting by teleconference of the Board of Directors to discuss the extension of the Special Delegated Authority and EXIM actions to address urgent under-supply of medical supplies.

      • Covid and Trans-Atlantic economies. Brookings Institution webinar on "Rehabilitating our Trans-Atlantic Economies After Covid-19."

      • Shale conference. Marcellus Shale Coalition virtual 2020 Shale Insight conference with keynote remarks from Energy Secretary Dan Brouillette.

      • National security. Washington Post Live webinar with former National Security Adviser H.R. McMaster, author of “Battlegrounds: The Fight to Defend the Free World.”

      • Financial issues. House Financial Services Task Force on Artificial Intelligence Subcommittee hearing on "License to Bank: Examining the Legal Framework Governing Who Can Lend and Process Payments in the Fintech Age."

      • U.S. manufacturing. Hudson Institute and Indiana University's Manufacturing Policy Initiative webinar on "Strengthening U.S. Manufacturing: Restoring the Industrial Commons."

      • U.S./Iran. Johns Hopkins University Paul H. Nitze School of Advanced International Studies (SAIS) virtual lecture on "Iran and the U.S. — A Critical Juncture."

      • U.S. foreign policy. Carnegie Endowment for International Peace webinar on "U.S. Foreign Policy at the Presidential Debate."

      • USMCA. Woodrow Wilson Center's Mexico Institute webcast on "USMCA: Mexico's Perspective on Labor Provisions and Mexico's Labor Reforms."

      • Cities and Covid-19. Urban Institute webinar on "State of the Cities 2020: Leading Through a Pandemic."

      • Police cameras. House Natural Resources Oversight and Investigations Subcommittee hearing on "Police Cameras at the Department of the Interior: Inconsistencies, Failures, and Consequences.

      • Autonomous vehicles. National Academy of Sciences, Engineering, and Medicine (NAS) webinar on "Capacity Impacts of Connected and Autonomous Vehicles (CAVs)," focusing on the impacts of CAVs on freeways and arterials under varying market penetration rates.

      • Voting by mail. American Bar Association virtual discussion on "Access to the Vote: The Ballot and the Mailbox."

      • China Belt and Road initiative. Center for Strategic and International Studies book discussion via webcast on "The Emperor's New Road: China and the Project of the Century."

      • Financial stability. University of Maryland Center for Financial Policy virtual discussion on "the progress on financial stability analysis and data needs since the 2008 financial crisis, what additional gaps the current crisis reveals and the key issues going forward."

      • Census and Covid-19. Urban Institute virtual discussion on "Responding to the Covid-19 Crisis: Mitigating the Risks of a 2020 Census Undercount."

      • Immigration reform. Bipartisan Policy Center webinar on "Immigration Systems in Transition: Lessons for U.S. Immigration Reform from Australia and Canada."

      • SBA meeting. Small Business Administration (SBA) meeting by teleconference of the National Small Business Development Centers Advisory Board to discuss Advisory Board FY 2021 priorities and gain feedback from the Small Business Development Center State Directors.

Wednesday, Sept. 30

     • Federal Reserve. St. Louis Fed 2020 Community Banking in the 21st Century Research and Policy Conference, including remarks from Fed Governor Michelle Bowman.

     • Antitrust issues. Senate Judiciary Antitrust, Competition Policy and Consumer Rights Subcommittee hearing on "Oversight of the Enforcement of the Antitrust Laws."

     • Future of food. U.S. Chamber of Commerce (virtual "Fast Forward Summit" on "private-sector innovations across various industries that are redefining the future and driving us forward," including on the “Future of Food.”

     • U.S. and TPP. Washington International Trade Association webinar on "Reengaging the Asia-Pacific on Trade: A TPP (Trans-Pacific Partnership) Roadmap for the Next Administration."

     • Transportation fuels. Center for Strategic and International Studies webcast on "Innovation in Transportation Fuels."

     • Asia strategy. Heritage Foundation webinar on "A New Vision for Central Asia: How U.S. Agency for International Development (USAID) is Implementing President Trump's Asia Strategy."

     • China/Africa research. Johns Hopkins University Paul H. Nitze School of Advanced International Studies sixth annual virtual China-Africa Research Initiative conference.

     • Covid-19 and development. Center for Global Development webinar on "Covid-19 and Development."

     • Assessing first presidential debate. German Marshall Fund of the United States webinar on "All Eyes on Trump and Biden — A Readout of the First TV Debate."

     • Trusted Traveler Programs. House Homeland Security Border Security, Facilitation, and Operations Subcommittee hearing on "Examining DHS' Management of Trusted Traveler Programs."

     • Drug prices. House Oversight and Reform Committee hearing on "Unsustainable Drug Prices: Testimony from the CEOs."

     • LNG standards. United States Energy Association webinar on "Use of International Standards in Liquid Natural Gas (LNG) Markets," focusing on the U.S./Asia gas partnership.

     • Asian energy independence. George Washington University Elliott School of International Affairs webinar on "The Quest for Europe and Eurasia's Energy Security and Independence: Why it Matters to America."

     • Small businesses and the food system. House Small Business Committee hearing on "How Covid-19 is Impacting Small Businesses Across the Food System."

     • U.S. global leadership. Atlantic Council virtual discussion on "the future of U.S. global leadership."

     • China and Tibet. Congressional-Executive Commission on China virtual hearing on "The Human Rights Situation in Tibet and the International Response."

     • Shale issues. Marcellus Shale Coalition virtual 2020 Shale Insight conference with remarks from Senate Energy and Natural Resources Ranking Member Joe Manchin (D-W. Va.).

     • National broadband network. National Telecommunications and Information Administration meeting by teleconference of the FirstNet Authority Board and Board Committees on the building, deployment, and operation of a nationwide interoperable public safety broadband network.

     • Global crises. House Science, Space and Technology Environment Subcommittee hearing on "Coping with Compound Crises: Extreme Weather, Social Injustice, and a Global Pandemic."

     • Covid vaccine. House Energy and Commerce Oversight and Investigations hearing on "Pathway to a Vaccine: Ensuring a Safe and Effective Vaccine People Will Trust."

     • Low carbon and small businesses. Environmental and Energy Study Institute webinar on "Low Carbon Small Business and Post-Covid Recovery," as part of the "Workforce Wednesdays: Policies and Programs for a Strong, Low-Carbon Covid-19 Recovery" series.

     • Space economics. Atlantic Council webinar on "Space Economics: Building Sustainable Space Infrastructure," focusing on the commercialization of space and the role of private companies.

     • U.S. manufacturing. Hudson Institute and Indiana University's Manufacturing Policy Initiative webinar on "Strengthening U.S. Manufacturing: Spurring Innovation."

     • Apparel industries. National Association of Foreign-Trade Zones virtual discussion on "FTZs: Supporting Essential Industries — Apparel."

     • Terrorism and U.S. election. Center for Strategic and International Studies webcast on "Domestic Terrorism and the U.S. Presidential Election."

     • 2020 elections. Bipartisan Policy Center webinar on "Worst Case Scenarios: Election 2020."

Thursday, Oct. 1

     • Carbon credits. Bipartisan Policy Center webinar, “Tapping into Markets for Farm and Forest Carbon Solutions.”
     • Federal Reserve. New York Fed President John Williams delivers remarks.

     • Supply chains. Senate Armed Services Readiness and Management Support Subcommittee hearing on "Supply Chain Integrity."

     • U.S. lobster trade. International Trade Commission hearing by teleconference on "Lobsters: Effects of the Canada/EU Trade Agreement on the U.S. Industry."

     • Conservation programs. House Agriculture Conservation and Forestry hearing on "Challenges and Successes of Conservation Programs in 2020."

     • USAID. Center for Strategic and International Studies (webcast on "U.S. Agency for International Development (USAID) and the Indo-Pacific Strategy: Covid-19 Disruptions and Next Steps."

     • Grid resiliency. Atlantic Council webinar on "Securing the Energy Transition: Innovative Cyber Solutions for Grid Resiliency."

     • Data and cybersecurity threats. United States Energy Association virtual discussion on "data protection considerations, best practices and legal/regulatory frameworks in an era of smart grids and sophisticated cybersecurity threats," part of the Digitalization and Cybersecurity in the Energy Sector series.

     • Drug prices, part two. House Oversight and Reform Committee hearing on "Unsustainable Drug Prices: Testimony from the CEOs."

     • PPP and EIDL. House Small Business Investigations, Oversight and Regulations Subcommittee hearing on "Preventing Fraud and Abuse of PPP (Paycheck Protection Program) and EIDL (Economic Injury Disaster Loan): An Update with the SBA Office of Inspector General and the Government Accountability Office.

     • Shale issues. Marcellus Shale Coalition virtual 2020 Shale Insight conference with a session on "ESG (environmental, social and governance) in the Oil and Gas Industry.”

     • Clean energy. House Energy and Commerce Energy Subcommittee hearing on "Generating Equity: Improving Clean Energy Access and Affordability."

     • Social media subpoenas. Senate Commerce, Science and Transportation Committee considers authorization to subpoena the attendance of a witness for purpose of a hearing to Jack Dorsey, CEO of Twitter; authorization to subpoena the attendance of a witness for purpose of a hearing to Sundar Pichai, CEO of Alphabet Inc.'s Google; and authorization to subpoena the attendance of a witness for purpose of a hearing to Mark Zuckerberg, CEO of Facebook.

     • Iran nuclear energy. Arms Control Association webinar on "The Future of the Iran Nuclear Deal and the Nuclear Nonproliferation Treaty."

     • Environmental justice. House Natural Resources Committee hearing on HR 5986, the "Environmental Justice for All Act."

     • Voting challenges. Brennan Center for Justice first of a two-day virtual symposium on "Voting Representation: New Issues and Challenges."

     • U.S. manufacturing. Hudson Institute virtual discussion on Strengthening U.S. Manufacturing: Enhancing Resilience."

     • China issues. Johns Hopkins University Paul H. Nitze School of Advanced International Studies webinar on "China's Western Horizon."

     • House rule changes. House Rules Committee hearing on "Proposed Rules Changes for the 117th Congress."

     • Antitrust issues. House Judiciary Antitrust, Commercial and Administrative Law Subcommittee hearing on "Proposals to Strengthen the Antitrust Laws and Restore Competition Online."

     • Carbon capture issues. United States Energy Association virtual discussion on "CCUS (carbon capture, utilization and storage) Tax Strategies, Opportunities, Roadblocks, Hurdles and Solutions."

     • Climate change and the U.S. financial system. House Select Climate Crisis Committee hearing on "Creating a Climate Resilient America: Strengthening the U.S. Financial System and Expanding Economic Opportunity."

     • 2020 election issues. Council on Foreign Relations virtual Election 2020 U.S. Foreign Policy Forum focusing on challenges awaiting the winner of the 2020 election.

     • Future of food. Federalist Society for Law and Public Policy Studies webinar on "The Future of Our Food."

Friday, Oct. 2

     • Covid and global food supply chains. Center for Strategic and International Studies webcast on "Global Food Supply Chains: An Early Assessment of Covid-19 Impacts."

     • Foreign policy and climate policy. Woodrow Wilson Center webcast on "21st Century Diplomacy: Foreign Policy is Climate Policy."

     • China and the environment. Woodrow Wilson Center's China Environment Forum webcast on "China's Coercive Environmentalism."

     • HHS Covid response. House Oversight and Reform Coronavirus Crisis Subcommittee hearing on the Health and Human Services Department's response to the coronavirus crisis with HHS Secretary Alex Azar.

     • Covid vaccine. Center for Global Development webinar on "Covid-19 Vaccine Predictions: Estimating the Time Before We Approve Efficacious Covid-19 Vaccines."

     • Trade issues. Center for Strategic and International Studies webcast on "Preparing the Workforce for 2030: A Pillar of Trade Leadership."

     • 2020 elections. Aspen Institute webinar on "The Day After: Preparing for a Contested Election."

     • CFIUS issues. Center for Strategic and International Studies webcast on "Committee on Foreign Investment in the United States (CFIUS) Modernization: Where Are We Today?"


Economic Reports and Fed Speakers for the Week


On Friday, the September jobs report arrives, with the unemployment rate expected to land at 8.2% after 880,000 jobs are added vs. the 1.37 million job added in August.


Monday, Sept. 28

     • Federal Reserve Bank of Dallas releases its Texas Manufacturing Outlook survey for September. The consensus estimate is for an 8.3 reading, roughly even with the August figure.

Tuesday, Sept. 29

     • Conference Board releases its Consumer Confidence Index for September. Economists forecast a 90 reading, higher than August’s 84.8. The postpandemic high for the index was 91.7 in July.
     • International Trade in Goods
     • Wholesale Inventories
     • S&P Corelogic Case-Shiller HPI
     • Federal Reserve. New York Fed President John Williams speaks at the 2020 Treasury Market Conference, with Fed Vice Chair Richard Clarida to also participate along with SEC Commissioner Elad Roisman and CFTC Chairman Heath Tarbert.

Wednesday, Sept. 30

     • MBA Mortgage Applications
     • ADP releases its National Employment Report for September. The economy is expected to add 625,000 private-sector jobs, up from 428,000 in August. Since shedding almost 20 million jobs in March and April, 43% of that total, or 8.5 million jobs, have been regained, according to ADP.
     • Bureau of Economic Analysis (BEA) reports its final estimate for second-quarter gross domestic product. The economy is forecast to have shrunk at an annual rate 31.7%, which would be unchanged from the BEA’s second estimate released in late August.
     • National Association of Realtors releases its Pending Home Sales Index for August. Consensus estimate is for a 2.3% rise, a deceleration from July’s 5.9%. Home sales are in the midst of a V-shape recovery, with sellers seeing their homes going under contract in record time, according to Lawrence Yun, the NAR’s chief economist.
     • Institute for Supply Management releases its Chicago Purchasing Managers’ Index for September. Economists forecast a 52.1 reading, slightly higher than August’s 51.2.
     • Federal Reserve. St. Louis Fed 2020 Community Banking in the 21st Century Research and Policy Conference, including remarks from Fed Governor Michelle Bowman.
     • China’s official purchasing managers index for manufacturing is expected to show factory activity expanded for the seventh straight month in September. Economists said manufacturers have sped up production to avoid shipment delays in the event buyers experience a return of Covid-19 this winter.

Thursday, Oct. 1

     • U.S. jobless claims have steadied at an elevated level in recent weeks, suggesting a slowdown in the labor market’s recovery. Economists expect only a slight decline in the number of applications for unemployment benefits during the week ended Sept. 26, underscoring continued labor-market disruption and a historically high number of layoffs.
     • BEA reports personal income and spending for August. Income is expected to decline 2.8% month over month, while consumption is seen rising 0.9%. This compares with gains of 0.4% and 1.9%, respectively, in July.
     • The Institute for Supply Management’s September purchasing managers index for manufacturing is likely to reflect a strong rebound in factory activity amid a slow global recovery and strong domestic demand for autos, electronics and other goods.
     • PMI Mfg. Index
     • Construction Spending
     • Fed Balance Sheet
     • Money Supply
     • Federal Reserve. New York Fed President John Williams delivers remarks.
     • The Bank of Japan’s tankan corporate sentiment survey for the third quarter is expected to improve, reflecting a gradual resumption of economic activity. In the second quarter, sentiment among Japan’s large manufacturers deteriorated to its lowest level in 11 years and even a significant gain will still show that more companies say business conditions are unfavorable than favorable.
     • The number of workers covered by Europe’s furlough schemes has been declining since lockdowns were eased, but without causing a surge in the number of people without jobs. That trend likely continued in August, with figures released by the European Union’s statistics agency expected to show that the jobless rate rose to 8.1% from 7.9% in July.

Friday, Oct. 2

     • Bureau of Labor Statistics releases the jobs report for September. Nonfarm payroll employment is expected to rise by 932,500, after August’s 1.37 million gain. The headline unemployment rate is seen edging down to 8.2% from 8.4%.
     • Consumer Sentiment
     • Factory Orders
     • Consumer prices in the eurozone were lower than they were a year earlier in August, and figures to be released by the European Union’s statistics agency are expected to show that they remained so in September, increasing the likelihood that the European Central Bank will have to provide further stimulus if it is to meet its inflation target.


Key USDA & international Ag & Energy Reports and Events


Traders expect USDA to increase the 2019 soybean crop by 33 million bu. in the Sept. 30 Grain Stocks Report. Pro Farmer expects a bigger increase, which would push Sept. 1 soybean stocks higher than most traders anticipate. Sept. 1 corn stocks are also likely to be higher than the average pre-report estimate, Pro Farmer predicts, as fourth-quarter feed use has never topped the third quarter, as USDA’s current 2019-20 feed and residual use estimate implies. Traders expect USDA to trim the 2019 corn crop estimate by 10 million bu., though September revisions to the previous year’s crop are rare. Besides Sept. 1 wheat stocks and implied first-quarter use, USDA will also issue its final 2020-crop wheat estimate, though only a minor revision is expected.


Monday, Sept. 28


          Ag reports and events:

  • Export Inspections
  • Crop Progress
  • Livestock & Meat Domestic Data
  • Egg Products
  • Peanut Stocks and Processing
  • EU weekly grain, oilseed import and export data
  • FT Commodities Global Summit (Sept. 28-30)
  • Earnings: Louis Dreyfus

          Energy reports and events:

  • FT Commodities Global Summit will focus on the climate crisis

Tuesday, Sept. 29


          Ag reports and events:

  • Fruit and Tree Nut Outlook

          Energy reports and events:

  • API weekly U.S. oil inventory report

Wednesday, Sept. 30


          Ag reports and events:

  • Broiler Hatchery
  • Grain Stocks
  • Small Grains Summary
  • Per capita consumption of selected cheese varieties
  • Agricultural Prices
  • Roundtable on Sustainable Palm Oil virtual discussion on seasonal haze
  • Malaysia Sept. 1-30 palm oil export data
  • Holiday: South Korea

          Energy reports and events:

  • EIA weekly U.S. oil inventory report
  • U.S. weekly ethanol inventories

Thursday, Oct. 1


          Ag reports and events:

  • Weekly Export Sales
  • Commodity Costs and Returns
  • Milk Cost of Production
  • Cotton System
  • Fats & Oils
  • Grain Crushings
  • Port of Rouen data on French grain exports
  • International Cotton Advisory Committee releases monthly world outlook
  • Holiday: China, Hong Kong, South Korea

          Energy reports and events:

  • EIA natural gas storage change

Friday, Oct. 2


          Ag reports and events:

  • CFTC weekly commitments of traders report
  • Peanut Prices
  • FranceAgriMer weekly update on crop conditions
  • Holiday: China, Hong Kong, India, South Korea

          Energy reports and events:

  • Baker Hughes weekly U.S. oil/gas rig counts



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