The Rural Voice, 1995-09, Page 19Grain Markets
until harvest begins or possibly until
the crop is in the bin.
In Ontario, old crop basis levels
have remained quite flat for the past
month and it doesn't appear that basis
will change too much before new crop
harvest begins. There appears to be
corn still stored on farm in some areas
and there is still a good supply of
Michigan corn in position for the
Ontario market. New crop basis has
also held steady even though the crop
looks good. Most buyers have not
bought in their needs for the fall yet
and the feeling is that demand will be
quite good for Ontario corn. This
shouldn't preclude the fact that there
could be a weak spot in the middle of
harvest.
SOYBEANS
The last USDA report didn't
change the soybean picture too much
this time around. However, the lack of
change may have caught traders by
surprise as futures immediately traded
down 15 cents but recovered and now
support seems to be near the $6/bu
level. As this is being written, the Pro
Farmer tour of crops is taking place
and so far, Ohio looks to be average
but Indiana and Illinois will be lower
than the five-year average as far as pod
counts are concerned. Soybean pro-
duction in the U.S. should be average
to slightly below but prices will
definitely be determined by demand.
In other words, the supply should be
sufficient but export demand will be
critical.
In Ontario, the soybean crop looks
good and will probably mature earlier
than normal. Basis levels have held
steady for new crop and strong for old
crop. Last year there was concern that
the record crop of 1994 couldn't be
handled by our system but any fears
were quickly put to rest through the
export market. This year there
shouldn't be too many problems even
though a large amount of wheat is
filling storage space right now.
Old crop basis is sitting at $1.80
over September futures while new
crop is $1.60 over November futures.
With both domestic and export
demand remaining strong, cash prices
for soybeans should hold steady at the
very least.
REFORESTATION....
TREE PLANTING 6.-•
Plan now for spring of 1996!
Landowners owning a minimum of
two hectares of land can receive a 50%
grant for planting coniferous/hardwood
trees and shrubs through your
Conservation Authority's Conservation
Services Tree Planting Program.
Projects may be for planting marginal
lands, windbreaks, erosion control,
wildlife habitat, etc.
For more information, contact the
Conservation Authority in your area:
GREY SAUBLE
CONSERVATION AUTHORITY
vP� AVB(
R.R. #4
Owen Sound, Ontario N4K 5N6
(519) 376-3076
SAUGEEN VALLEY
CONSERVATION AUTHORITY
R.R. #1
Hanover, Ontario N4N 3B8
(519) 364-1255
AUSABLE BAYFIELD
CONSERVATION AUTHORITY
R.R. #3
Exeter, Ontario NOM 1S5
(519) 235-2610
4
RV
m+
SEPTEMBER 1995 15