AgDay Daily Recap - March 5, 2018

March 5, 2018 02:57 AM
 
AgDay

TODAY ON AGDAY
MARCH 5, 2018

HEADLINES

"I THINK THERE'S A REAL RISK OF A TRADE WAR BREAKING OUT". CONCERN IN AGRICULTURE AROUND POTENTIAL NEW TARIFFS FROM THE WHITE  HOUSE. PLUS, CAN THESE SOYBEAN PRICES LAST? MACHINERY PETE HAS SOME RED HOT PRICES FROM NORTH DAKOTA. AND MUSH...THE IDITAROD TAKES OFF IN ALASKA. AGDAY - BROUGHT TO YOU BY THE CHEVY SILVERADO, THE MOST DEPENDABLE, LONGEST-LASTING FULL  SIZE PICKUPS ON THE ROAD.

CHINA AND POSSIBLE TRADE WAR
GOOD MORNING I'M CLINTON GRIFFITHS. PRESIDENT TRUMP'S THREAT TO  IMPOSE TARIFFS ON STEEL AND ALUMINUM SET-OFF IMMEDIATE AND TERSE  RESPONSE FROM LAWMAKERS HERE AT HOME...AND FROM TRADING PARTNERS  ABROAD. HERE IN FARM COUNTRY, AG GROUPS ARE CONCERNED THAT AGRICULTURAL  PRODUCTS WILL BE THE FIRST TO BE TARGETED BY OTHER COUNTRIES WHO  RETALIATE AGAINST THE U-S. EVEN AG SECRETARY SONNY PERDUE ADMITTING IT IS A CONCERN. "TARIFFS ARE BEING CONSIDERED ON CHINA. YOU ALSO KNOW THAT TYPICALLY WHENEVER THAT  HAPPENS AGRICULTURE IS ALWAYS THE TIP OF THE SPEAR. SO THERE'S REASON FOR ANXIETY.” FARM GROUPS ALSO WARNING THAT ANY ACTION TO IMPOSE TARIFFS IS LIKELY  TO ESCALATE SIMMERING TENSIONS WITH CHINA AND OTHER U.S. TRADING  PARTNERS. CONCERNS IN FARM COUNTRY NOT DISSUADING THE PRESIDENT FRIDAY. PRESIDENT TRUMP TWEETING ON FRIDAY MORNING THAT "TRADE WARS ARE  GOOD AND EASY TO WIN". BUT HIS COMMENTS ARE BRINGING HARSH CRITICISM FROM SOME REPUBLICANS  AND MANY AG GROUPS. SURROUNDED BY STEEL AND ALUMINUM EXECUTIVES, LAST WEEK, PRESIDENT  TRUMP SAID HE WILL IMPOSE TARIFFS ON THOSE METAL IMPORTS IN RESPONSE  TO WHAT HE CALLED DECADES OF UNFAIR TRADE POLICIES. THE PENALTIES ARE 25-PERCENT ON STEEL AND 10-PERCENT ON ALUMINUM. THE PRESIDENT SAID COUNTRIES, LIKE CHINA, ARE DUMPING STEEL IN THE U-S AT  UNFAIR PRICES. JOHN FEERIOLA, NUCOR:  " ALL WE WANT IS A LEVEL PLAYING FIELD. AND TODAY WE'RE NOT GETTING  THAT, THE CHEATING IS PHENOMENAL, THE AMOUNT OF CIRCUMVENTION THAT TAKES PLACE, IS  INCREDIBLE.""WHEN IT COMES TO A TIME WHEN OUR COUNTRY CAN'T MAKE ALUMINUM AND STEEL AND  SOMEBODY SAID IT BEFORE AND I WILL TELL YOU, YOU ALMOST DON'T HAVE MUCH OF A COUNTRY.  BECAUSE WITHOUT STEEL AND ALUMINUM YOUR COUNTRY IS NOT THE SAME. AND WE NEED IT , WE  NEED IT EVEN FOR DEFENSE."BUT CRITICS OF SUCH A MOVE FEAR THAT OTHER COUNTRIES WILL RETALIATE  WITH THEIR OWN TRADE PENALTIES. ...ARGUING THAT SANCTIONS ON IMPORTS WILL DRIVE UP PRICES AND HURT U.S.  AUTOMAKERS AND OTHER COMPANIES THAT USE STEEL OR ALUMINUM. ACCORDING TO THE INTERNATIONAL TRADE ADMINISTRATION THE UNITED  STATES IS THE WORLD'S NUMBER ONE IMPORTER OF STEEL. IT RUNS WELL AHEAD OF THE NUMBER TWO AND THREE IMPORTERS - GERMANY  AND SOUTH KOREA. THE U-S SOURCES STEEL FROM ONE-HUNDRED-TEN COUNTRIES AND  TERRITORIES, WITH CANADA LEADING THAT LIST. IT ACCOUNTS FOR NEARLY 20- PERCENT OF THE STEEL COMING INTO THE COUNTRY. CHINA BARELY CRACKS THE TOP TEN LIST, ACCOUNTING FOR ABOUT THREE  PERCENT. YET, MUCH OF THE TALK OF TARIFFS AND RETALIATION CONCERN FOCUSES ON  CHINA. AND FOR GOOD REASON. OF THE 128 BILLION DOLLARS IN AGRICULTURAL GOODS IMPORTED INTO CHINA  EACH YEAR, ABOUT A THIRD IS SPENT ON OILSEEDS, SUCH AS SOYBEANS. "I THINK IT WOULD BE PRETTY REASONABLE TO ARGUE THAT IF THERE'S A SIGNIFICANT PRICE INCREASE IN  STEEL AND ALUMINUM WE WILL SEE THAT PASS THROUGH AND TRACTOR PRICES CAN BUY AND PRICES DROP  PRICES. THE CHINESE I THINK THEY'RE NOT NECESSARILY GOING TO RETALIATE AGAINST THESE TARIFFS  ACROSS THE BOARD. I THINK THEY'RE GOING TO SELECTIVELY PICK COMMODITIES IN AGRICULTURE IN  PARTICULAR WHERE THE A LARGE CHUNK OF THE PRESIDENT'S BASE COMES FROM AGRICULTURAL STATES  THAT PRODUCE THOSE COMMODITIES."OVERSEAS, THE PRESIDEN'TS WORDS BROUGHT A STINGING REBUKE FROM THE  PRESIDENT OF THE EUROPEAN COMMISSION.  EU'S JEAN-CLAUDE JUNCKER DENOUNCING THE PLAN AS "A BLATANT INTERVENTION TO PROTECT U.S.  DOMESTIC INDUSTRY.". THE E-U PROMISED RETALIATORY ACTION. THE CHINESE COMMERCE MINISTRY EXPRESSED  "GRAVE CONCERN." THE  MINISTRY SAID BEIJING HAS SATISFIED ITS TRADE OBLIGATIONS AND APPEALED  TO WASHINGTON TO SETTLE DISPUTES THROUGH NEGOTIATION. CANADA - THE LARGEST SOURCE OF STEEL AND ALUMINUM IMPORTS IN THE U-S - SAID IT WOULD "TAKE RESPONSIVE MEASURES" TO DEFEND ITS TRADE  INTERESTS IF RESTRICTIONS WERE IMPOSED ON CANADIAN STEEL AND  ALUMINUM PRODUCTS.

AG EXPORT RISK
U.S. FARMERS ARE STILL ON HIGH ALERT FOLLOWING THE PRESIDENT'S  ANNOUNCEMENT.  BETSY JIBBEN JOINS US WITH MORE FROM THE AG INDUSTRY. CLINTON WE EXPECT MORE DETAILS FROM THE PRESIDENT THIS WEEK ON THE  ISSUE OF TARIFFS. ALL WHILE, THE AG INDUSTRY VOICES CONCERN -- SAYING - HOLD ON, WE DON'T  WANT RETALIATORY  TARIFFS OR A TRADE WAR.  "LOTS OF TIMES WHEN A COUNTRY DECIDES TO RETALIATE ON SOMETHING,  THEY PICK ON AN AGRICULTURAL PRODUCT. AND THAT WILL HAPPEN THIS TIME."BOLD WORDS FROM THE AG. INDUSTRY - "WE'VE HEARD THE CHINESE SAY DIRECTLY, THAT THEY WOULD RETALIATE AGAINST AMERICAN  SOYBEAN IMPORTS TO THAT COUNTRY. THAT'S A HUGE DEAL."WARNING TO NOT START A TRADE DISPUTE WITH AMERICAN ALLIES THAT  INCLUDES A HUGE MARKET AND A BIG BUYER OF U.S. PRODUCTS - CHINA. "THEY BUY MORE OF OUR BEANS THEN THE REST OF THE WORLD COMBINED TO THE TUNE OF 14  BILLION DOLLARS LAST MARKETING YEAR. THAT'S A LOT OF BEANS." SOYBEANS AREN'T THE ONLY ONES - THE NATIONAL ASSOCIATION OF WHEAT GROWERS SAYING - ITS "EXTREMEMLY DISAPPOINTED IN THE DECISION ANNOUNCED" AND "WE HAVE  REPEATEDLY WARNED THAT THE RISKS OF FRETALIATION AND ITS POTENTIAL  CONSEQUENCES FOR AGRICULTURE.  THIS ALL COMES DURING A TIME WHEN WHEN THE CHINESE GOVERNMENT  LAUNCHED AN INVESTIGATION ON U.S. SORGHUM FOR BOTH COUNTERVEILING  DUTIES AND ANIT DUMPING. "IS THE U.S. ILLEGALLY DUMPING? TIM: NO WE ARE NOT. I THINK THE RECORD WILL  CLEARLY SHOW THAT OVERTIME. AND THIS IS THE FIRST TIME OUR INDUSTRY HAS EVER BEEN ACCUSED OF  ANYTHING LIKE THIS. 24 WE WILL CONTINUE TO WORK AND DOCUMENT THAT AS THE PROCESS MOVES  FORWARD." NOW, MANY HOPE ANOTHER INDUSTRY IS NOT TARGETED NEXT DUE TO STEEL  AND ALLUMINUM  "IS SOY THE NUMBER ONE TARGET?  THAT'S CERTAINLY THE WORD. I THINK IT VERY EASILY COULD BE JUST BECAUSE WE SEND SO MANY  SOYBEANS THAT WAY. YOU LOOK AT COTTON, WE SEND A LOT OF COTTON TO CHINA TOO.MINISTRY OF AGRICULTURE DATA SHOWS  CHINA'S IMPORTS OF AG PRODUCERS WERE VALUED AT NEAR 126 BILLION  DOLLARS DURING 2017. THAT'S UP 12.8 PERCENT FROM THE PREVIOUS YEAR.  COTTON IMPORTS TOTALED 2.36 BILLION AND ROSE BY 32.7 PERCENT - DESPITE A POTENTIAL TRADE WAR COTTON EXPERTS SAY CHINA HAS A STOCKPILE OF COTTON BUT THE COUNTRY  STILL NEEDS TO IMPORT PRODUCT.  "THEY HAVE STOCKS BUT THEY STILL NEED TO. THEIR PRODUCTION COMPARED TO WHAT THEY ARE  PRODUCING AND THEIR USE; THEIR PRODUCTION IS FAR LESS THAN THEIR USE AND EVEN THOUGH THEY ARE  GETTING RID OF THEIR STOCKS, THERE ARE OPPORTUNITIES TO MOVE COTTON TO THAT AREA.  THEY WILL NEED  TO HAVE COTTON IMPORTED."THE PRESIDENT  ACTIVE ON TWITTER - SAYING PRODUCTS NEED TO BE TAXED  THE SAME BETWEEN COUNTRIES.  HE SAYS "WE WILL BE SOON BE STARTING RECIPROCAL TAXES SO THAT WE WILL  CHARGE THE SAME THING AS THEY CHARGE US." AND THE TRADE DISCUSSION CONTINUES. NAFTA NEGOTIATIONS WERE UNDERWAY DURING THE PRESIDENT'S REMARKS ON  STEEL AND ALUMINUM. REUTERS REPORTING FRIDAY THAT NAFTA NEGOTIATORS MAY HAVE HOLD  SEPARATE MEETINGS TO DISCUSS THE AUTO INDUSTRY GIVEN THESE NEW  REVELATIONS.THE THREE COUNTRIES CONTINUE TO DISAGREE ON THE U.S. DEMAND THAT  LARGER PORTION OF NORTH AMERICAN AUTO PARTS AND COMPONENTS COME  FROM THE U.S.

CROP COMMENTS
CINDI CLAWSON JOINS US THIS MORNING FOR A LOOK AT CROP COMMENTS.  CINDI! GOOD MORNING, CLINTON.  LET'S START OFF IN ALBANY, MISSOURI  JESS ROLVES SAYS THE BEST NAPS ARE WITH FULL BELLIES ON SOFT BED! WELL, THE U.S. DROUGHT MONITOR SAYS THERE ARE PLENTY OF DRY PLACES IN  MISSOURI. NEARLY 90 PERCENT OF THE STATE IS ABNORMALLY DRY.  HEADING OVER TO OSAGE COUNTY, OKLAHOMA. NICK WILSON  SHOWING US A  PICTURE  OF HIS 'OFFICE VIEW' - HE SAYS IT'S THAT TIME OF YEAR FOR SOME MUD.  AGAIN, THE U.S. DROUGHT MONITOR SAYS 66 PERCENT OF THE STATE IS IN A  MODERATE DROUGHT. NEARLY 44 PERCENT OF THAT IS SEVERE AND 33 PERCENT  EXTREME.  AND TALKING ABOUT RAIN AND MUD. WELL YOU KNOW YOU COULD DEFINITELY SEE WHERE WE HAD A LOT  OF RAIN IN THE EASTERN HALF OF THE COUNTRY OVER THE LAST WEEK ESPECIALLY AS YOU GET DOWN INTO  THE SOUTHERN UNITED STATES TENNESSEE PARTS OF MISSISSIPPI. VERY HEAVY RAIN BUT THAT'S  STRETCHED ALL THE WAY UP INTO PARTS OF THE NORTHEASTERN UNITED STATES AS WELL. SO OBVIOUSLY  WE'VE HAD A LOT OF FLOODING IN MUCH OF THE EASTERN PART OF THE COUNTRY OVER THE PAST WEEK AND  A HALF TO TWO WEEKS. WELL THAT'S A LOOK AT SOME OF YOUR NATIONAL FORECASTS OF MORE COMING UP  IN A FEW MINUTES. BUT NOW HERE ARE SOME HOMETOWN TEMPS

TEASE
WHEN WE COME BACK, CAN THE SOYBEAN MARKET SUSTAIN IT'S RECENT RALLY. AND LATER...MACHINERY PETE. STAY TUNED FOLKS. COMING UP WE'RE GOING TO TAKE YOU TO SOUTHEAST NORTH DAKOTA FOR TWO RED  HOT AUCTIONS LAST WEEK. AND THESE MUSHERS AND THEIR COMPANIONS FACE SOME OF THE MOST  TREACHEROUS WINTER WEATHER POSSIBLE AS THEY TREK THE  ALASKA WILDERNESS. BUT THIS YEAR THE IDITAROD HAS NEW OBSTACLES TO  OVERCOME. DETAILS AS WE HEAD IN THE COUNTRY.

FLOOR OF THE CME
IN AGRIBUSINESS IT WAS A MIXED DAY FRIDAY IN THE GRAIN MARKETS. LET'S SEE  HOW THE COMMODITY MARKETS ENDED THE WEEK.... FROM THE FLOOR OF THE  CME. WHEAT REALLY PULLED BACK TODAY IT SEEMS LIKE THE NEW HIGH DEFINITELY SPARKED THAT PROFIT  TAKING AND WE'D HIT ITS HIGHEST NUMBERS SINCE LAST AUGUST. SO IT WAS REALLY REALLY STRONG  MARKET BUT THERE. BUT IN SPITE OF THE FACT THAT WE'RE DOWN 16 CENTS WE'RE STILL UP 10 PERCENT  ON THE WEEK. SO WEEKS WE'VE STILL LOOKS VERY STRONG. SOYBEANS WERE REALLY FIRM THE MARKET  OPEN AND TRADED A LITTLE BIT HIGHER BUT THAT THE ARGENTINE SOY CROPS ARE STILL THREATENED BY THE  SEVERE DROUGHT THAT'S HAPPENING DOWN IN SOUTH AMERICA AND IT SEEMS THAT THE FUTURES REALLY  JUMPED OUT TO A BRAND NEW HIGH AT TEN EIGHTY TWO AND A HALF BUT IT DIDN'T HOLD YOU KNOW  DEFINITELY SPARKED SOME SELLING IN PROFIT TAKING HERE AT THE END OF THE WEEK TODAY CAROL WAS  WEAKER. IT SEEMS THAT FUTURES JUST SLOWLY CARVING OUT ANOTHER NEW LOW. WE HAVEN'T SEEN  THESE PRICES SINCE LATE JANUARY JUST A COUPLE OF MONTHS AGO. BUT IT'S YOU KNOW BEEF  PROCESSORS AND THE RANCHERS ARE REALLY ENDING THE WEEK WITH A FIZZLE AND SEEMED LIKE THE  MARKET TRIED TO RALLY A LITTLE BIT BUT JUST COULDN'T GET ANYTHING GOING. THAT'S ALL FROM THE FLOOR AT  THE CME GROUP HERE IN CHICAGO VIRGINIA MCGATHEY

AGRIBUSINESS
WELL WE'VE FOUND BRIAN DOHERTY STUART PETERSON DID TALK ABOUT THIS SOYBEAN RALLY AND I THINK BRIAN THE QUESTION IS HOW LONG WILL THIS HANG AROUND AND WHAT SHOULD WE BE DOING RIGHT NOW.  GREAT. GREAT QUESTION. LET'S GO BACK A MONTH TO LITTLE OVER A MONTH AGO SOYBEAN MEAL HAS  LED THIS RALLY. IT'S IN INCREASE IN VALUE 25 PERCENT IN A MONTH. SO JUST IMAGINE OF COURSE IT  COULD DO THAT RIGHT. IT'S BEEN WHAT I CALL A DISPLACEMENT RALLY THAT IS ARGENTINA'S HAD SOME  DRIER WEATHER CONCERNS SO THERE IS CONCERN ABOUT THEIR CROP SIZE. THE MARKET QUICKLY REFLECTS  ON THE IDEA THAT HEY ARGENTINA IS THE LARGEST EXPORTER OF SOY MEAL IN THE WORLD. IN FACT THE  NEXT LARGEST IS BRAZIL AND ARGENTINA MORE THAN DOUBLES BRAZIL. RIGHT. SO MIEL BLOWS UP THE  FUNDS WHO ARE SHORT BEANS TO A RECORD AMOUNT ABOUT SIX WEEKS AGO. RAPIDLY REVERSE  POSITIONS THAT ARE NO LONGER. SO THIS HAS BEEN NOT ONLY A SHORT COVER RALLY AND FUND BUYING  RALLY. IT'S BEEN A REAL DISPLACEMENT RALLY. THE THING WE CAN'T REALLY GET OUR HANDS AROUND YET IS  THE IDEA OF WHAT ARGENTINA MAY BE LOSING IN YIELD OR BUSHELS. BRAZIL MAY BE PICKING UP RIGHT  OR OTHER PARTS OR OTHER PARTS OF THE SOUTH AMERICA MAY BE SEEING GREAT YIELDS. WELL YEAH  PARAGUAY AND OTHER PLACES. SO WHAT DO WE DO. DO WE ARE WE PROTECTING OURSELVES OR ARE  WE TAKING ADVANTAGE OF THIS WHAT ARE WE DOING. WELL I THINK HE GOT TO WHEN YOU HAVE BIG  CARRY OUT AND HERE HERE'S THE FACTS. IN FEBRUARY THE USDA CAME OUT LOWERED ARGENTINA TWO  MILLION METRIC TONS RAISED BRAZIL 2 MILLION. SO YOU GOT TO WASH IN SOUTH AMERICA LOWERED U.S.  EXPORTS INCREASE US CARRY OUT 60 MILLION BUSHELS. THAT'S A BIG INCREASE. SO WE'VE GOT A VERY  ABUNDANT SUPPLY ON THE BOOKS RIGHT NOW AND IT'S UNLIKELY THAT AT THESE PRICES WE'RE GOING TO  ATTRACT NEW NEW CROP ACRES TO BEANS. WE THINK MAYBE A MILLION MORE ACRES SO THE DOWNSIDE  COULD BE PLENTIFUL FOR BEANS IN PARTICULAR IN THE SHORT TERM. ARGENTINA WHERE TO GET SOME RAIN  SO SOYBEANS DEFENDED BY PUT'S FOR FOR NEW CROP YOU MAY EVEN CONSIDER SHORT DATED PUT  SPEND LESS ON TIME VALUE BUT GET ABOVE 55 53 DAYS WITH THE SHORT DATA PUT. OKAY SO  SOMETHING TO WATCH AS WE GET INTO THE SPRING PLANTING I MEAN THIS SEEMS LIKE SO MANY  MOVING PARTS BUT LOOKING AT THE PRICE RIGHT NOW. NOT A BAD OPPORTUNITY. NOT A BAD OPPORTUNITY  JUST YOU KNOW I'M NOT A BEAR. BUT BUT KEEP THIS IN MIND WHEN BEANS TUMBLE IT'S THEIR WICKED  AND THEY'RE UNFORGIVING AND THEY'LL LOSE A DOLLAR IN A WEEK. SO IF YOU TAKE ABOUT A 10 OR 15  PERCENT DROP OFF THE HIGHS THAT COULD PUT NEW CROP BEANS DOWN TO NINE DOLLARS OR LESS. VERY  TYPICAL WOOL SO JUST BEAR IN MIND THAT THAT'S WHAT'S IN STORE IF IF THINGS GO BEARISH. ALL RIGHT.  APPRECIATE IT BRIAN. THANKS SO MUCH. WE'LL BE BACK WITH MORE AS JUST A MINUTE  AGDAY - BROUGHT TO YOU BY RAM COMMERCIAL - AMERICA'S LONGEST-LASTING HEAVY DUTY  PICKUPS.

WEATHER
WE'LL COME BACK AGDAY HERE WITH CINDY CLAWSON LOOKING AT THE JET STREAM FOR THE WEEK IN  SYRIA. IT LOOKS LIKE WE'RE KIND OF STARTING ANOTHER PATTERN HERE AS FAR AS THE TROUGH GOES HERE.  WE'RE GOING TO SEE THAT KIND OF REALLY FAVORING THE EASTERN UNITED STATES AS WE TAKE A LOOK AT  THE MAP YOU'LL SEE THAT WE HAVE A TROUGH HERE IN THE NORTH CENTRAL KIND OF NORTHWEST OF THE  UNITED STATES BUT THAT'S GOING TO MOVE TO THE EAST AND THEN KIND OF STICK AROUND THE EASTERN  PART OF THE COUNTRY ESPECIALLY THE NORTHEAST AS WE GET INTO THE MID WEEK AND THEN JUST KIND OF  REINFORCING SHOTS OF COOLER AIR AND I WILL START OFF WARMER BUT IT WILL END OFF ON A COOLER NOTE AS  WE GET TOWARDS THE END OF THE WEEK WHILE WE SEE SOME WARMER TEMPERATURES IN THE WESTERN  UNITED STATES HEADING INTO THE WEEKEND. WE DO SEE A BIG WARM UP THOUGH FOR MUCH OF THE  WESTERN HALF OF THE UNITED STATES. NOW AS A WHOLE WE ARE LOOKING AT ABOVE NORMAL TEMPERATURES IN THE NORTHEAST BELOW NORMAL IN THE SOUTHEAST AS WELL AS IN THE NORTHWESTERN  UNITED STATES INCLUDING PARTS OF THE NORTHERN PLAINS. LOOKS LIKE A FAIRLY WARM TEMPERATURES  IN AND AROUND THE FOUR CORNERS REGION AS WE TAKE A LOOK AT THE PRECIPITATION EXPECTED THIS  WEEK. WE ARE LOOKING AT ABOVE NORMAL FOR PARTS OF THE EAST COAST INTO THE NORTHEAST INTO THE  SOUTHEAST AS WELL. AND ALL ALONG THE WEST COAST AS WELL. WE ARE EXPECTING TO SEE BELOW  NORMAL FOR CETACEAN THIS WEEK RIGHT ON DOWN THE NATION'S MIDSECTION RIGHT ON DOWN THROUGH  THE PLAINS DOWN INTO THE NORTHERN PARTS OF MEXICO AS WELL. MUCH OF THE CORN BELT ESPECIALLY  THE EASTERN CORN BELT IS EXPECTING TO SEE FAIRLY NORMAL PRECIPITATION AS WE HEAD RIGHT ON  THROUGH THE WEEK. WHAT ABOUT THE FURTHER LOOK INTO THE FUTURE THE 30 DAY TEMPERATURES A LOT  OF FOLKS REALLY STARTING TO PAY ATTENTION TO THIS AS WE START TO GET INTO SPRING PLANTING TIME  BELOW NORMAL TEMPERATURES FOR MUCH OF THE GREAT LAKES AREA. MUCH OF THE CORN BELT ALL THE  WAY INTO THE NORTHWESTERN UNITED STATES AND WE'LL SEE THOSE WARMER TEMPERATURES HANGING  OUT ALONG THE SOUTH INTO FLORIDA INTO TEXAS AND THEN OVER INTO THE FOUR CORNERS REGION  PRECIPITATION THAT'S A BIG ONE WE'RE WATCHING AND WE'RE LOOKING AT ABOVE NORMAL FOR MUCH OF  THE CENTRAL EASTERN CORN BELT TO THE MID-ATLANTIC DOWN TO THE GULF COAST STATES. ALSO A BIT ON  THE WET SIDE ALONG THE WEST COAST. WE'RE GOING TO KEEP THOSE CONDITIONS DRY AS YOU GET INTO  THE FOUR CORNERS REGION PARTS OF THE PLAINS STATES AS WELL SOME OF THOSE AREAS ARE ALREADY  VERY DRY AND WILL BE JUST A LITTLE BIT ON THE DRY SIDE IN THE FAR NORTHEAST AS WELL BUT FAIRLY  NORMAL IN THE UPPER MIDWEST AND INTO THE NORTHERN PLAINS. THAT'S A LOOK AT YOUR NATIONAL  FORECAST. NOW LET'S CHECK ON THE WEATHER WHERE YOU LIVE. ELY NEVADA PLENTY OF SUNSHINE FOR  YOU TODAY WITH A HIGH TEMPERATURE OF 34 DEGREES. CLINTON INDIANA RAIN IS LIKELY FOR YOU.  MAYBE A FEW FLAKES MIXING IN EARLY WITH A HIGH OF 50 DEGREES. DOUGLAS GEORGIA. LOTS OF  SUNSHINE TODAY

TEASE
UP NEXT A RED HOT GREG PETERSON! OR AT LEAST SOME PRETTY INTERESTING SALES AT RED AUCTIONS IN NORTH  DAKOTA. AND LATER - A RACE THAT PITS MAN AND DOG AGAINST SOME OF THE FIERCEST  WINTER WEATHER IMAGINEABLE IS NOW UNDERWAY IN ALASKA.  BUT NOW IT  FACES SOME NEW CHALLENGES.

MACHINERY PETE
MACHINERY PETE IS ALWAYS READY FOR A GOOD AUCTION. TODAY HE TELLS US ABOUT A RECENT IMPRESSIVE SALE IN NORTH DAKOTA. GREG. WELL I KEEP TALKING ABOUT HOW THIS MARKET IS ALL ABOUT CONDITION AND REGARDLESS OF THE HOURS IF  IT'S IN GOOD SHAPE THESE TRACTORS ARE REALLY SELLING WELL FOLKS. MORE PROOF CAME LAST WEEK ON A  PAIR OF AUCTIONS BY OUR FRIENDS AT THE STEFFES GROUP. BOTH OF THESE AUCTIONS WERE FARM SALES  IN SOUTHEAST NORTH DAKOTA. NOW LAST WEDNESDAY. THIS VERY NICE 2007 JOHN DEERE 8430  4547 HOURS ON IT SOLD FOR A HUNDRED THIRTEEN THOUSAND DOLLARS. THAT'S A VERY STRONG PRICE IN  FACT. I LOOKED IN OUR MACHINERY PETE AUCTION PRICE DATA AND IF WE ISOLATE A 2007 MODEL WITH  OVER 4000 HOURS THIS IS THE SECOND HIGHEST ONE EVER. NOW THE NEXT DAY AGAIN SAME AREA  SOUTHEAST NORTH DAKOTA ANOTHER FARM AUCTION WAS RED EQUIPMENT AND A PAIR OF TRACTORS SOLD  VERY WELL. HERE'S A PICTURE OF THE 2011 CASE IH 45 QUAD TRAC. SIXTEEN HUNDRED THIRTY FIVE  HOURS ON IT WENT FOR 233000 DOLLARS. SECOND HIGHEST AUCTION PRICE EVER ON A 45 QUADTRAC.  NOW THE ONLY ONE ACTUALLY ON A SALE I COVERED IN EAST CENTRAL NORTH DAKOTA ALL THE WAY BACK  ON DECEMBER 7TH 2011. HERE'S A PICTURE OF IT. IT WAS A 2010 MODEL 840 HOURS ANOTHER SALE  BY THE STEFFES GROUP AND IT BROUGHT 280 THOUSAND DOLLARS. NOW ALSO LAST THURSDAY THIS 2004  CASE IH MX210 TWENTY EIGHT HUNDRED TWENTY SEVEN HOURS ON IT SOLD FOR SEVENTY ONE  THOUSAND DOLLARS HIGHEST AUCTION PRICE IN 27 MONTHS.

TEASE
STILL TO COME THE FAMED IDITAROD DOG RACE IS NOW UNDERWAY....BUT IT  FACES ADDITIONAL SCRUTINY THIS YEAR. DETAILS WHEN WE COME BACK.

IN THE COUNTRY
IN THE COUNTRY - SPONSORED BY KUBOTA.  TRACTORS, HAY TOOLS, UTILILTY VEHICLES, MOWERS AND  MORE.  VISIT KUBOTA.COM TODAY. DOGS TEAMS ARE "OFF AND RUNNING" IN THE FAMED IDITAROD RACE IN ALASKA. BUT THE RACE - APPROACHING ITS 50TH YEAR - IS FACING SOME BIG BUMPS IN  THE ROAD. AMONG THE MULTIPLE PROBLEMS FACING ORGANIZERS: A DOPING SCANDAL, THE  LOSS OF A MAJOR SPONSOR AND PRESSURE FROM ANIMAL RIGHTS ACTIVISTS TO  END THE EVENT. THE IDITAROD'S BOARD DISCLOSED IN OCTOBER THAT FOUR DOGS BELONGING  TO FOUR-TIME WINNER DALLAS SEAVEY TESTED POSITIVE FOR A BANNED  SUBSTANCE. THE ORGANIZATION SAID IT COULDN'T PROVE SEAVEY ADMINISTERED THE DRUGS  TO HIS DOGS AND DIDN'T PUNISH HIM. BUT THE RULES ON DOPING HAVE NOW  BEEN CHANGED TO HOLD MUSHERS LIABLE. "WE THINK WE'VE FIGURED OUT THE BEST PATH FORWARD IN TERMS OF  CHANGING A RULE RELATIVE TO OUR DRUG TESTING PROGRAM THAT WILL MAKE THINGS MUCH EASIER TO  MANAGE GOING FORWARD.""FROM THE VERY BEGINNING, HE HAS MAINTAINED THAT HE DID NOT ADMINISTER ANY BANNED SUBSTANCES TO HIS DOGS. HE'S MAINTAINED THAT HE DID NOT VIOLATE ANY RULES WITH REGARD TO ANY BANNED SUBSTANCES."RACE OFFICIALS DISPUTE THE CONTENTION AND BLAME ACTIVISTS FOR USING  MANIPULATIVE INFORMATION TO PRESSURE CORPORATE SPONSORS LIKE WELLS  FARGO, A LONGTIME BACKER, TO SEVER TIES TO THE IDITAROD. REGARDLESS, RACE OFFICIALS ARE CONFIDENT THE EVENT WILL GO ON FOR  MANY YEARS TO COME.

CLOSE
THAT'S ALL THE TIME WE HAVE THIS MORNING. WE'RE GLAD YOU TUNED IN.  FOR ALL OF US AT AGDAY I'M CLINTON GRIFFITHS. HAVE A GREAT DAY. AGDAY - BROUGHT TO YOU BY RAM COMMERCIAL - AMERICA'S LONGEST-LASTING HEAVY DUTY  PICKUPS.

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