The Rural Voice, 1992-07, Page 21Grain Markets
November futures reaching $6.50/bu
before dropping to the $6.10/bu area.
Right now, prices are trying to maintain
the $6.20/bu level and as with corn,
will be very vulnerable to the changing
weather patterns. With the reduced
acreage in the U.S., a good yield must
be guaranteed before prices will show
much weakness. If futures prices do
rise significantly, it will likely buy
more acres in South America this fall
which in turn would increase total
supplies.
In Ontario, old crop beans are being
shipped quickly and actually one of the
crushers can't keep ahead of supplies.
With the Canadian dollar staying near
83 cents, basis levels should stay
relatively firm. However, new crop
basis will be more vulnerable to curren-
cy exchange and the supply of beans.
Preliminary surveys indicate soybean
acreage may be unchanged from last
year, which should give the Ontario
crushers large supplies in the fall.
Basis levels in Ontario have
changed only slightly over the past
month with old crop at 60-65 cents over
July futures and new crop at 55-60
cents over the November futures.
FEED GRAINS
Ontario barley and mixed grain
seems to be readily available as produ-
cers clear out bins before harvest be-
gins. Mixed grain is selling for about
$100/mt while barley is trading in a
range of $95 to $100/mt. Ontario oat
prices are still in the $100 to $120
range depending on quality. Western
barley remains firm at $117/mt at the
bayports.
While soybean acreage in the U.S. is
down significantly, com acreage is up
about two per cent. In Ontario, the
reverse is true. Corn acreage may be
down about 15 per cent while soybean
acreage will remain stable.
Given these factors, good growing
conditions are needed for an adequate
soybean crop in the U.S. and for a corn
crop in Ontario. Since weather
forecasters can't predict the weather
accurately, traders are going to have a
difficult job over the next three to four
weeks trying to trade the markets.
Producers can simply set realistic
targets and be ready to sell when that
target is reached.0
Information supplied by Dave Gordon,
LAC, Inc., Hyde Park, 519-473-9333.
JIM'S FLYING SERVICE LTD.
Over 26.Years Experience ... Guaranteed Application
Spraying — Seeding — Fertilizing on all types of crops
Airfield 519-527-1606 or call Milton Dietz Ltd. 519-522-0608
Congratulations to Huron County Dairy Farmers
Sohn, Leona and Brian Oldfield
Brian Oldfield, John Oldfield, Hank Binnendyk, Huron Dairy
Equipment with one of the Oldfield Ayrshire calves.
The Oldfields were recently presented with a Surge Milk Quality
Master Award for exhibiting outstanding management in quality
control. The award, which consists of a stainless steel sign and
sterling silver lapel pin, is presented to a few elite North Ameri-
can farmers who produce milk with an average somatic cell count
of 100,000 or less for 12 months as well as a bacteria count
average of under 5,000. The Oldfield 45 cow Ayrshire herd
(179-173-186 BCA) had an average somatic cell count of 94,200
and an average bacteria plate count of 3200.
Exceptional producers of quality milk like the Oldfields, provide
consumers of dairy products with higher quality milk and milk
which tastes better and has a longer shelf life.
HURON DAIRY EQUIPMENT LTD.
R. R. 4, Seaforth, Ontario, NOK 1 WO SURGE
519-522-1935
JULY 1992 17