HomeMy WebLinkAboutThe Rural Voice, 2002-11, Page 41the way through the seed which is
chlorophyll that was trapped when
the plants shut down from drought. It
doesn't appear that this problem is
found outside of the southwest in
areas that received adequate rainfall.
Basis levels are very strong
especially in the London area and I
expect basis to stay strong throughout
the year. The quality and quantity of
food -grade export soys is much better
than last year, so fewer will need to
go into the crusher market. I think
Ontario will get to import levels early
in the new year.
I made a statement earlier that
tight producer holding is friendly to
prices in the short term but longer
term it is negative. When processors
or elevators need grain, basis levels
increase and as I've said many times,
sell when buyers are looking for
grain not when their needs have been
satisfied. Even though Ontario will
need to import corn and soybeans,
there is plenty of both to satisfy needs
well into the new year. Basis levels
are high partially because U.S. levels
are high but, don't expect this
strength to continue forever.
Corn growers in Huron, Perth, and
Oxford counties will see corn move
into the London area for awhile.
Yields in these areas are generally
very good and producers will have
more corn than normal to sell. It
would be prudent to at least sell this
extra production before basis levels
back off from today's levels.
Producers who try to sell at the
peak of the market generally fail and
end up selling as the prices fall.
Always sell into a rising market
because what goes up will come
down.
Prices right now are providing a
selling opportunity and growers need
to take advantage of the opportunity
no matter what happens to prices
later.0
The deadline
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December issue
of
The Rural Voice
is
November 20, 2002
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NOVEMBER 2002 37