01-19-2011 10:22 AM
Just saw a report from the National Weather Service indicating flooding in the Red River Valley in ND and MN is very likely this spring.
"Major flooding is expected on all forecast locations on the mainstem of the Red River of the North and on many forecast locations on its Minnesota and North Dakota tributaries," according to the NWS report issued Tuesday. "Wet soils before freeze-up...high river base flows...above-normal snow water in the southern snowpack and expected cooler and wetter spring have increased the probabilities of significant flooding in the Red River basin."
So, just more fuel for the bulls, or is it too early for the market to take that into account just yet? Marketeye, anybody on the Floor chattering about this yet?
01-19-2011 10:51 AM
In his speech at Ag Connect, Al Kluis mentioned that the vast amounts of snow coverage will be a flood concern this spring. I'm not surprised this early warning is out. The bullish fundamentals are lined up like grain trucks in Eddyville, Iowa. Right Ray?
01-19-2011 03:39 PM
Wow, I just talked to a meteorologist with the NWS office in Grand Forks, and he said some county officials are already filing paperwork for disaster declarations...for flooding that's 2 or 3 months away. Sounds like it could really be serious.
01-19-2011 06:37 PM
You bet Mike.....these southern Iowa farmers are really adapting well to a cold Iowa winter....
444 trucks today....about 430,000 bushels