Y101.3 FM Sioux City

Missouri Governor Mike Parson has extended Missouri’s drought alert through and executive order.  The announcement comes at the recommendation of the state’s Drought Assessment Committee, which met earlier this month.  The alert was put into place in July and an extension allows the committee to continue supporting those affected by the drought. In a statement, the governor said it’s important resources, like water, are available for farmers and ranchers that need them and to help with barge traffic on the river. ...     

At the Chicago Mercantile Exchange, live and feeder cattle are lower ahead of the week’s direct business.  December lives closed $.50 lower at $152.57 and January feeders closed $1.42 lower at $176.87.  Direct cash cattle trade activity is off to a typically quiet start to the week.  Bids and asking prices have yet to be established.  Showlists this week are mixed – higher in Kansas, but lower in Texas and Nebraska/Colorado.  Significant trade volume isn’t expected to develop until midweek or later.  ...     

A farmer in northwest Minnesota is locking in inputs for 2023. Austen Germolus of Borup grows corn, soybeans, wheat, and barley. “With fertilizer prices being high, and not knowing what the future will bring, it’s been a good program to lock in some of those inputs.” He’s hearing chemicals might be more available next year, but seed will probably be more expensive. “So maybe getting a little bit of a discount by locking in early is probably not such a bad idea. ...     

The co-author of the Ocean Shipping Reform Act suggests the legislation is working as intended. U.S. Senator Amy Klobuchar says the bill has helped level the playing field since it was signed into law this summer. “Because it empowers the Maritime Commission to go after the shippers. We’ve seen some dramatic reductions in rates.” The Minnesota Democrat says in the last year, the cost of importing shipping containers dropped 84 percent and export costs have fallen more than 20 percent. ...