Evening Report (VIP) -- November 11, 2013

November 11, 2013 08:50 AM

FAVORABLE WEATHER CONTINUES IN HRW WHEAT BELT... Meteorologist Gail Martell of MartellCropProjections.com says Kansas has received abundant rain during fall, with 5.8 inches accumulating since Sept. 1 -- 23% above normal. She says more regular rainfall has promoted generation and high plant populations and crop conditions above last year's levels.

"Wet weather in November may be linked to an emerging El Nino signal. The El Nino is the rain maker, while La Nina produces drought in the U.S. heartland. The Climate Prediction Center has hinted a full fledged El Nino may emerge by spring, suggesting cool upper Midwest temperatures and wetness in the eastern Midwest farm belt," she notes. Click here for related maps.


UKRAINE GRAIN EXPORTS REMAIN WELL ABOVE YEAR-AGO... Ukraine's grain exports rose to 10.8 MMT from July 1 to Nov. 11 thanks to an increase in wheat shipments, the country's ag ministry reports. This represents a 10.3% increase over this period last year. The ministry says it expects exports between 26 MMT to 30 MMT for 2013-14, which compares to exports of 23 MMT the previous marketing year.


CANADIAN RAIL CAR SHORTAGE CAUSES FREIGHT PRICE SURGE... The harvest of record-setting crops in Canada this year has overwhelmed the shipping industry, creating a shortage of grain cars and pushing freight prices sharply higher. Burlington Northern and Sante Fe (BNSF) say the upgrading of track has slowed average train speeds and further tightened supplies. The two major carriers for the country, Canadian National Railway Co. and Canadian Pacific Railway Ltd., are each providing 5,000 to 5,500 cars each week, but demand is for more than double that amount. USDA's Ag Marketing Service (AMS) says this has pushed non-shuttle bids and multi-car shuttle train rates sharply higher this week.


HOURS OF SERVICE WAIVERS EXTENDED TO MEET LP DEMANDS... Pro Farmer Inputs Monitor Editor Davis Michaelsen reports Hours of Service waivers have been extended in several Midwest states to meet LP demand. Hours of Service Waivers allow delivery truck drivers to stay on the road longer in times of emergency, and this year, waivers have been on the books since as early as October 23. News comes today that Illinois, Indiana, Iowa, Minnesota and Wisconsin will extend Hours of Service Waivers.

"Propane supplies remains strong, however and as drivers and suppliers scramble to answer heavy on-farm demand, the overtime has started to show up in retail LP pricing. Waivers in Iowa, Wisconsin and Montana will last through the end of this week while other states will be under waivers until after Thanksgiving," reports Michaelsen. Read more here.

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