The Rural Voice, 1992-06, Page 21Grain Markets
SOYBEANS
Soybean futures have actually been
the leader in market volatility over the
past weeks. With the corn crop virtu-
ally all planted, higher bean prices
will not buy more acres and as a re-
sult, soybeans will be vulnerable to
anything that will potentially reduce
production. In fact, the last USDA
report projected usage in 1992-93 at
two bu/acre more than the trendline
yield.
In Ontario, basis levels have gained
some more with old crop basis now in
a range of 55 cents to 85 cents over
July futures at elevators while new
crop basis levels range from 60 cents
to 65 cents over November futures.
It appears that acreage in Ontario
will not be reduced as much as with
corn and in fact may be close to last
year's acreage if, in fact, some cereal
grain acreage was switched to
soybeans.
Stocks of soybeans in Ontario are
disappearing at a very good pace and
carryout should be minimal.
FEEDGRAINS
Feed grain prices have had ups and
downs similar to the moves in corn,
soybean and wheat prices. There has
not been a great deal of demand for
Ontario grains, but the supply has also
been quite limited. One bright spot
was some short term demand for
barley from users in the eastern U.S.
However, local demand remains
subdued partially due to the price and
users' preference for Western barley.
Mixed grain and Ontario barley are
both selling for about $100/mt while
Ontario oats are selling for $100 to
$120/mt depending on quality.
It would appear that feed grain
acreage will be down this year if
reports we are hearing are true.
The market volatility seen over the
past few weeks due to weather con-
cerns seems to be a little premature
because the crops are barely planted.
Normally, futures markets start to
react in June and depending on how
real the weather concern is, may last
until early July or August. What we
have seen so far may be a fore-
shadowing of things to come.0
Information supplied by Dave Gordon,
LAC, Inc., Hyde Park, 519-473-9333.
don't miss it .. .
ONTARIO
perair
CONGRESS
• Over 200 exhibitors.
• Education.
• Innovations.
• Live animal display.
• Auctions.
• Entertainment.
• Judging and "Much Much More."
Stratford, Ontario
Coliseum & Fairgrounds
JUNE 25-26-27,1992
Ontario Pork Congress,
Box 61, Stratford, Ontario, 519-625-8811
Exhibits open Thursday & Friday only
Thursday, June 25 - 9 a.m. - 9 p.m.
Friday, June 26 - 9 a.m. - 4 p.m.
SATURDAY, JUNE 27 - FUNFEST DAY
"Activities All Day."
Si11`A?FOVD AGRICQI L2 URAL SOCIV1Y
Fairgrounds. Complex
20 Glastonbury Dr.
Stratford, Ontario
N5A 6T1
(519) 271-5130
(519) 271-5832
ONTARIO!
prim
'Th, T'a4, r/ Cunnr
JUNE 25 2692STRAT FORD
We are pleased to once again be hosting
the 1992 Ontario Pork Congress.
We extend a warm welcome to all
exhibitors & visitors.
Brian Gropp, Manager
JUNE 1992 17