The Rural Voice, 1992-05, Page 20COMMITTED TO QUALITY YOU CAN DEPEND ON
NOW
THERE
IS A
MANURE
PUMP
THAT
WILL
OUT
PERFORM fta-----11.1 HUSKY H6000
ALL LIQUID MANURE PUMP
OTHERS
HUSKY FARM EQUIPMENT LIMITED
ALMA, ONTARIO NOB 1A0 (519) 846-5329
BUTLER
AGRI-BUILDER
BUTLER
AGRI-BUILDER
• Distribution For Grain Bins And Aeration
Equipment — Agricultural And Commercial
• Dealer For Pre -Engineered Butler Buildings
DLit
AERATION EQUIPMENT
PRE -CAST SANDWICH WALLS
O��FOR AGRICULTURAL BUILDINGS
R E C A S T I N C
FRITZ
CONCRETE INC.
GENERAL CONTRACTING
DESIGN • BUILD • SERVICE
Chepstow, Ontario
Tel. (519) 366-2253
Fax (519) 366-2331
Charles Daniel
Equip. Sales Manager
Res. (519) 367-2816
Mobile (519) 741-6656
16 THE RURAL VOICE
GRAIN MARKETS
VULNERABLE TO
BAD WEATHER
The USDA released three reports
since March 31 that have had a pro-
found effect on the tone of the grain
markets. The corn stocks report was
bearish while the projected corn
planting was neutral and the result
was a rush by speculators to liquidate
their long position. The soybean
reports were neutral but, as a trader in
Chicago told me, there is no such
thing as a neutral report any longer:
it's either bullish or bearish.
CORN
During the first two weeks of
April, the drop in the corn market
was brutal with an 18 cent/bu drop on
May futures in a matter of days. In
the eyes of technical traders, major
areas of support were broken and the
market will now struggle until some
new direction is found from a change
in weather or a change in planting
intentions as we get on through the
spring. I still am of the opinion that
old crop is presently trading near to
the low end of its value. New crop
corn will likely trade more erratically
as weather and the resulting crop size
become topics of conversation.
In Ontario, basis levels streng-
thened once again to 20 cents over
May futures due specifically to lack
of producer selling. As farmers were
eyeing the $3/bu mark, the futures
suddenly fell off and selling ceased.
On form bids for corn strengthened to
the 28 to 30 cent range over May fu-
tures and representing a good return
to storage from a basis point of view
and if any more strength is realized, it
will have to come from the domestic
market because present levels are
above export values. In fact, with the
futures market dropping, shipments