The Rural Voice, 1983-06, Page 27about 20% of new crop production
slept easily. Most US services and sharp
Ontario marketers were suggesting being
forward contracted on at least that
amount while Dec. futures were trading
over $3.00. As for old crop, cash holders
in Ontario are getting as much as $3.90 a
bushel, as a farm pick-up price, as this
market holds up in spite of the slump on
Chicago futures.
Soybeans: US acreage to be down 9%.
That's the official word from Washing-
ton. Earlier, the American Soybean
Association had reported that plantings
would be as much as 11 per cent below a
year ago. The acreage cut is good news
for soybeans. They need a supply
reduction, since Brazil's crop (now
almost all off) is 15.5 million metric tons.
World grain production to be down in the
1983-84 crop year: A preliminary estimate
from USDA on May 10th said the
upcoming world grain crop could be
down 2 per cent from a year ago, but with
65 per cent still not planted, it's hard to
say. World wheat should be down
marginally, coarse grain down 5 per cent,
rice up 2 per cent and a record, and
oilseeds down 2 per cent. It's important
that the bulk of reductions this year will
be in the U.S. ... a 25 per cent drop is
seen. This means that although world
supply s will continue to be burdensome,
carryovers on the North American conti-
nent will be easier to handle.
White beans: The 1982 Ontario crop is
sold. That welcome news came from the
Ontario Bean Producers Marketing Board
in late April. Manager Charlie Broadwell
said he was "confident" that the dismal
bean market has bottomed and the future
looks better. He noted that a carryover
from last year's U.S. crop of about 11/2
million bags exists, but said that
Michigan acreage this year could drop 30
per cent from 1982 levels.
1f culling of dairy cows starts, it could
pressure cattle prices. Overproduction of
dairy products in Canada and the U.S.
may eventually necessitate heavy culling
of cows. Some culling was seen in
Ontario in March. U.S. producers still
refuse to cut dairy production despite
efforts by lawmakers to impose fees. Roy
Budlong of Cattlefax warned producers
in an interview that if culling begins in
the U.S., non -fed slaughter supplies
could shave profits off beef; Gary Jones,
President of the Canadian Cattlemen's
Association, expressed similar views in
this country.
Use the next two years as a Grace
Period" for tougher times ahead...That
was the advice of Bill Helming, well
known U.S. Economist, speaking at a
Toronto outlook conference. Helming
predicted that the PIK program will boost
agricultural markets for awhile and the
FARM MARKET PERSPECTIVE
stock market will stay on its high flying
track for "a year, to a year and a half."
After that, "ominous world debts" and a
need to "write them off over time," will
turn our economy into deflation, predicts
Helming. Since deflation would mean
lower prices for commodities and land;
people should use the upcoming two
years to generate cash by selling
unnecessary land holdings and becom-
ing as "Liquid" as possible.
Western calf crop could be cut by
weather: A major spring snow storm in
early May hit parts of Alberta and
Saskatchewan. Cattlemen in the Cyprus
Hills and some other areas said some
small calves were suffering from hypo-
thermia.
A pair of farmers from Iowa got even
better press than Ontario survival asso-
ciation members. In a truly unique way of
expressing their financial concerns to the
government, they travelled to Washing-
ton on a tractor pulling a manure
spreader. In the spreader was an out-
house. The farmers accepted donations
of undershorts, which they mailed to
Washington to represent the hundreds of
farmers who "lost their rears in this
recession."
FIRST LINE
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Vigour Plus, as the name im-
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conditions. To provide informa-
tion on quality and potential
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Research results show a strong
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ONTARIO, CANADA
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Yes, we have Maple Amber
Contact:
JOHN HAZLITT, benmiller acres 524-7474
R.R.4 Goderich. N7A 3Y1
BEV HILL, Hill & Hill Farms Ltd. 482-3218
Varna, Ontario. NOM 2R0
HUGH SCOTT, H.J.A. Farms Ltd. 345-2886
R.R. 2 Staffa. NOK 1Y0
GORDON STRANG, Strang Farms 235-1466
R. R.3 Exeter. NOM 1S0
THE RURAL VOICE. JUNE 1983 PG. 25