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14 THE RURAL VOICE
Grain Markets
selling for about $ I00 - $110 while
Ontario milling oats are trading for
$125 and feed oats at $ 100.
Western feed wheat is selling for
$170 but has been largely replaced in
rations by Ontario wheat at $135.
Unless corn prices improve
significantly, you can see that other
feedgrain will have a tough time
competing.
Since harvest is quickly coming to
an end, other fall work can be
finished up soon and producers will
have lots of opportunity to think and
plan. In the past, I've tried to tell
producers to avoid selling in the
throes of this harvest, but yields have
been so abnormally high that sales
have been made to move grain. Now
you need to take a long, hard look at
locking in some of today's forward
prices which are already beginning to
fade. Simply put, if we are to see
stronger prices later in the marketing
year, a large portion of the 1998
soybean and corn crops must be
exported. Ontario simply has too
much corn relative to Ontario's
consumption and it appears that
soybean crush in Ontario will be
down from last year. Right now, corn
bids for the winter months are well
above export levels which are being
dictated mainly by Quebec's offer of
corn for shipment in the winter
months.
With the Canadian dollar holding
under 65 cents U.S., producers should
not only look at forward contracting
some of the 1998 production but
should also address their 1999
marketing plans. I'm pleased to see
that some growers are selling a
portion of their 1999 production, but
it seems to be only the very astute
marketers who have done so to this
point. In fact, corn and soybeans have
already been traded for the 2000 crop
year, taking advantage of carry in the
futures market as well as a flat
Canadian dollar. Remember,
planning ahead can lead to good
marketing decisions.0
Information supplied by Dave Gordon,
LAC, Inc., Hyde Park, 519-473-9333.