Grains continue to follow the outside markets. The US dollar has rallied to an 8 month high. The Federal Reverse raising interest rates a quarter of a percent yesterday was somewhat of a surprise. The USDA Outlook Form acre guesses for the up coming planting season were in line with other groups forecast. Ideal weather for crop production and harvest in SA should continue to weigh on our prices. China is coming off of holiday next week. It will be interesting to see if they will continue to source beans from US or SA. Export figures released this morning were average or slightly below and nothing to write home about. Look for a sideway to lower trading range in both corn and beans. The next USDA report will be released on March 10th.
The Iowa Department of Transportation’s Office of Motor Vehicle Enforcement has pushed through the legislation a new audit program for intrastate (Within the State of Iowa) commercial motor carriers. This new program requires all motor carriers operating in Iowa to display their company or farm operation name and USDOT registration number on their vehicles. This includes all straight trucks and semis owned and operated by farmers. According to MVE chief Dave Lorenzen, “This concept is similar to the driver’s license system where the DOT may take corrective actions toward a person that has an excessive number of moving violations or some critical violation. Given the large number of commercial motor vehicles registered in Iowa, it makes sense, and is the best and most efficient us of our resources, to direct enforcement efforts to carriers that are having problems.” It sounds to like the DOT is will be profiling the trucking industry. To obtain a USDOT number you can call 800-832-5660 or go to the FMCSA web page http://safer.fmcsa.dot.gov and fill out an application on line. There is no cost to you for this number. Additional information about the new registration requirement is available on the Iowa DOT’s web site at www.iowadot.gov/usdotnumbers.html.
Remember to check your grain bins! We are offering FREE price later for corn. Due to current soybean inventories at the elevator we can’t offer the free service for any soybean bushels.
Fiscal year 2009 patronage checks will be mailed out around the first of March. The check amount will be for 25% of your earned patronage from last year. Thank you for your support! Have a great weekend!
Bob
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