A.M. Grain Market Commentary for 3/14/2013

Morning Comments 3/14/2013

Thursday, March 14, 2013, 8:29 am
Submitted by: Kyle Lehman

News this morning has been few and far between which has the markets chopping around steady to down a couple. No big surprises in this week’s export sales; corn exports came in at 11.1 mln bu within expectations of 10-22 mln. Soybean sales were 24.17 mln slightly below expectations of 30-42 mln but well ahead of USDA pace. Wheat exports came in above the estimate of 13-22 mln at 32.65 mln which has wheat the only grain trading higher.

*Tomorrow’s forecasted high of 56 in Des Moines has some people anxious for spring. Just an FYI the high of 56 for tomorrow (3/15) happens to be 25 degrees less than last years high of 81 for 3/15/12. So far this month the average temperature for march has been below normal and almost opposite of last years record high March temperatures. The chart below indicates the month of March last year averaged a high of 66.8 degrees for the month and this year the current pace is 35.8 degrees well below the 49 degree historical average.

Outside markets are a touch bearish this morning as the dollar makes new highs on worsening European financial outlooks while crude and metals trade lower.

Corn down 1

Beans down 5

http://www.fccoop.com/markets/commentary_detail.cfm?CommentaryID=1636

Prepare for summer drought now Iowa, experts advise

Prepare for summer drought now Iowa, experts advise | Local News - KCCI Home

DES MOINES, Iowa —State officials said Thursday that they are putting out the warning now for Iowans to prepare for another summer of drought ahead.

Read more: http://www.kcci.com/news/central-iowa/Prepare-for-summer-drought-now-Iowa-experts-advise/-/9357080/18554762/-/n51lonz/-/index.html#ixzz2L032mUxm

Despite the rain and snow we've received this winter, things haven't improved much, officials said.
Officials with the Iowa Department of Natural Resources said northwestern Iowa is the driest and will suffer the most as the drought continues. But even if it ends, there will likely be water shortages in areas all over the state.

Officials said water conservation is the key.

"All of us need to learn to live more lightly and not waste," said Cathleen Bascon of the Cathedral Church of St. Paul in Des Moines.

The church turned its parking lot into a rain garden. Originally the plan was to deal with flooding, but there have been other benefits.

"The water filters in, down and is retained and shot over to the gardens," said Bascom.

The rain garden proved extremely useful even in a year without much rain. "We retain it and use it for the water to water the plants," said Bascom.

Experts at the Statehouse Thursday discussed the drought outlook for 2013.

Read more: http://www.kcci.com/news/central-iowa/Prepare-for-summer-drought-now-Iowa-experts-advise/-/9357080/18554762/-/n51lonz/-/index.html#ixzz2L02x5uA7