The Rural Voice, 1996-02, Page 19Grain Markets
corn position held by speculators
needed to be liquidated. No market
can ever go in one direction without
correction and once REFCO started
to sell off their corn position, stop
orders were hit leading to a freight
train move downward. And, typical
of any market move, the selling was
overdone. The bright side of the
drop was the aggressive buying by
the commercial firms. They saw
this crop as an opportunity to get
some sales priced.
The soybean and wheat markets
were followers when the corn
market began to fall because the
corn market is currently the focus
of attention. My feeling is that just
as wheat and corn have been in bull
markets for the last 12 months,
soybeans will have their day in the
sun. If you look at long term
charts, both corn and wheat prices
have already reached the upper end
of historical data but soybean prices
have not moved past 1991 highs.
Overall, I think prices will
continue to remain strong,
especially for stored grain, and that
new crop prices will also strengthen
but at a slower rate. There will be
many good pricing opportunities
over the next few months. Make up
a marketing plan right now and
leave pricing orders with your local
elevator or buyer. There should
then be no reason for disappointing
crop returns in 1996.0
Information supplied by Dave
Gordon, LAC, Inc., Hyde Park,
519-473-9333.
Deadline for the
MARCH ISSUE
of
The Rural Voice
Is
February 21
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35-39 148.
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50-54 412.
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20 YR. TERM
AGE 25 1.36 1.21 1.14
30 1.36 1.30 1.23
35 1.65 1.61 1.56
40 2.28 2.27 2.26
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FEBRUARY 1996 15