The Rural Voice, 1997-05, Page 21the obvious answer will be to sell into
the export market.
The U.S. soybean market seems to
be acting much like the corn market
did last year. We've seen strong'
prices since last harvest but now we
need fresh news to advance the
strength further. Remember, last year
a cold wet spring was the push that
corn prices needed to reach the final
high. Soybeans will need something,
as yet unforeseen, to push the bubble
higher.
FEED GRAINS
The only constant in grain markets
this year is the western feed grain
scenario. Prices have remained quite
stable and firm. Western feed barley
is selling for about $167 to $170
while western feed wheat is trading
for $205. Ontario barley is trading off
farm at $150 to $155 as is mixed
grain. The price of western and local
feed grains make them too expensive
to displace corn from feed rations.
However, as I've said before, western
wheat may be included in rations as a
protein source throughout the coming
months.
The most common question we've
had posed in April regards where
prices are headed and I'm having a
hard time with predictions. It wasn't
as difficult at harvest time to predict
price direction for the winter as it is
right now. Corn prices have already
strengthened much quicker than we
thought earlier, so now we wonder if
the highs may not already be in. You
can hear both sides to the story but
the bottom line still has to be — are
you satisfied with the cash price. It is
human nature to aim for the highest
price but in reality, producers should
sell a portion several times a year.
After a price peak has been reached,
usually the seller's mindset changes
to one of hope. Most successful
marketers sell before the top is
reached and rarely try to hit the
absolute peak. Producers must
change their approach to marketing
and preset their price targets and time
targets to average out returns and
then don't deviate. Prices offered
today for both old and new crop
grains are well above cost of
production and prudent marketers
should already be on board.°
Information supplied by Dave Gordon,
LAC, Inc., Hyde Park, 519-473-9333.
Don Thompson
Financial
Consultant
Thank you to those who
visited us at the Seaforth
and Exeter Horne Shows.
Representing Trust
Companies, Banks
and Mutual Fund Companies.
Over 30 years in banking and taxation experience.
If your investments are underperforming your expectations.
Call us for a free no obligation second opinion.
Lawrence Beane
Manager
Y.I.S. Financial Inc..
YOUR INVESTMENT SHOPPERS
Lawrence M. Beane
Don Thompson
Offices in Clinton, Exeter and Grand Bend
1-888-235-9260
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