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DTN Oil
Posted by Brian L. MilneOil futures on the New York Mercantile Exchange and Brent crude on the Intercontinental Exchange rallied during the final session of the first quarter, with bullish macroeconomic data accelerating an advance after contracts reversed off technical support points midweek.
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Farm Life
Even though the wildfires in the Texas Panhandle are contained, ranchers still need to assess feed and water for livestock to ensure their safety.
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What DTN Is Watching
USDA's weekly export sales will be out at 7:30 a.m. CDT, the same time as weekly U.S. jobless claims, an update of first-quarter U.S. GDP and an update of the U.S. Drought Monitor. The Energy Department's weekly natural gas storage report is at 9:30 a.m. USDA's Prospective Plantings survey and report of March 1 Grain Stocks will be out at 11 a.m., followed by USDA's quarterly Hogs and Pigs report at 2 p.m.
WeatherA system that is moving through the Pacific Northwest will be moving into the Northern Plains and Canadian Prairies on Thursday, producing areas of scattered showers, mostly as snow. Quieter conditions are expected elsewhere as temperatures start to rise ahead of the inbound system. Snow cover will limit some of the warming in the Upper Midwest and surrounding areas.
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