The Rural Voice, 2001-11, Page 35(ALmAR)
Grain Markets
growers should be looking right now
at securing a decent seed supply.
Unless there is some major change
to market fundamentals, I do not see
the futures markets for corn or
soybeans doing any more than giving
us a typical post harvest rally. Last
year, futures prices gained strength
until the new year and those prices
have not been seen since. Right now
the commercials are long corn futures
to the extreme and prices should
move higher once harvest nears
completion in the U.S. Soybeans
could bounce to the $5 area on a
technical bounce, but supplies will
likely limit the move. It would take a
drought in South America to affect
supplies before prices would have
much chance of moving higher.
In Ontario, local markets for both
corn and soybeans should be good in
the coming year relative to last year.
However, this does not mean that
producers should hold on forever
hoping for higher prices. On a
positive note, it appears that fuel and
fertilizer costs will be lower in the
spring, so 2002 input costs should
drop. If grain prices do gain some
strength into the new year, producers
should look at contracting some 2002
production.
I realize that yields have not been
good for everyone this year and in
retrospect, producers locked in some
relatively low basis levels. I think
producers will persevere once again,
though they need to look ahead, plan
ahead and put marketing plans into
action. There will be some good
opportunities to take advantage of in
the coming months.0
information supplied by Dave Gordon,
LAC, Inc., Hyde Park, 519-473-9333.
Deadline for the
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NOVEMBER 2001 33