The Rural Voice, 1998-10, Page 19prices arc strong relative to corn, but
even though soybean prices do show
some carry into the winter months, it
appears that corn will have stronger
gains by the end of the year.
FEED GRAINS
Feed grain prices are at a premium
relative to corn prices with Ontario
barley selling for $105 to $110 per mt
— well below the price on the small
amount of western barley that is in
Ontario. The same is true for Ontario
feed wheat and quantum wheat. Both
are selling for well under western
feed wheat. Western feed wheat is
trading for about $170 while
comparable Ontario quantum wheat is
selling for $15 to $20 less. All of
these prices will limit usage unless
corn prices unexpectedly get stronger.
1 am still of the opinion that corn
and soybean prices will go lower in
the near future if only for a week or
two. The Canadian dollar has shown
some strength lately and as it goes
higher, basis levels will weaken in
Canadian funds. Basis levels for both
corn and soybeans are presently at or
near export levels and eventually they
will move higher to import levels,
although you may not sec much
change if the dollar continues its
ascent.
Producers should be looking ahead
and consider forward contracting
some of the 1999 production for a
couple of reasons. First, if you
believe the Canadian dollar will
continue strengthening, then today's
basis levels for 1999 will look good.
Combined with fairly strong futures
prices, producers can lock in some
profits. When one is looking that far
ahead, you don't want to be in a
position of worrying whether prices
will go higher than you sold. It's not a
matter of making a right decision, just
don't make the wrong decision.
If grain producers can make it
through harvest price lows without
having to sell any grain, they will be
rewarded in the future. Maybe not
with any big return, but you will be
able to lock in some good carry.
For the next few weeks, producers
need to stay focused on their
marketing and not make any rash
decisions — just be logical.°
Information supplied by Dave Gordon,
LAC, Inc., Ilyde Park, 519-473-9333.
Toll Free: 1-800-287-9553
Phone: (519) 364-7837
HANOVER, ONTARIO
ATTENTION
FARMERS!
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Branch Manager
235-4000
497 Main Street South
Exeter, Ontario NOM 151
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Norris Peever (Goderich) 524-6105
Bob McNaughton (Seaforth) 527-1571
McMaster Siemon (Mitchell) 348-9150
Barb Worden (Staffa) 345-2777
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Joe Uniac (Mitchell) 348-9012
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JOHN H. McNABB
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Jacking and replacement of
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John McNabb Jim Waechter
Ph: (519) 371-4521 Ph: (519) 366-2756
Fax: (519) 371-6815 Fax (519) 366-2600
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(Evenings)
Phil Smith 519-764-2898
Rick Beunen 519-631-2341
OCTOBER 1998 15
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