The Rural Voice, 1995-06, Page 20WHEAT AND GRAIN SPRAYING BY AIR
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• No ground
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about $173/mt, western oats at
$166/mt and western feed barley at
$155 to $160/mt.
Ontario barley is selling for about
$135/mt and decent quality oats are
worth about $120/mt. Mixed grain is
not being offered by producers right
now and there is some demand. If
producers have any feed grains still
stored on the farm and they expect to
sell rather than use it, they would be
well advised to start now to offer it
out. Don't wait until harvest has
begun.
In summary, several factors are
beginning to play out. Corn planting
in the U.S. is well behind normal
which could lead to more soybeans
being planted. Spring wheat acreage
also appears to be down which could
also lead to increased soy acreage.
All this on top of a 7 1/2 per cent
acreage set aside program for corn.
Because of these factors, I'm
remaining friendly to corn prices,
especially in the new crop. I think
there will be an excellent opportunity
to forward contract corn by early
summer. Typically, prices will go
high enough to ration usage and then
drop back. If this happens, producers
should be willing to sell some of their
production.
There could still be a weather -
induced soybean market as well, but
the likelihood of any substantial
strength is much less than with corn
prices.
ALERT!! Today (May 18) the
soybean market zoomed up 17
following limit moves by soy oil
prices. The U.S. is dropping tariffs
on soy oil shipments to China and
funds were quick to react. Export
sales for the year have now reached
the USDA estimate for the year. This
may be an opportunity to price some
sales but more likely there will be
some more gains. Corn futures,
however, did not react to the soybean
price rise. Corn prices moved slightly
higher in a manner that is quite
constructive. I think the move in
prices today could be a signal of
things to come.0
Information supplied by Dave Gordon,
LAC, Inc., Hyde Park, 519-473-9333.