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The Rural Voice, 1999-08, Page 52IGB GREY -BRUCE CONSTRUCTION LTD. R.R. 5 MILDMAY, ONTARIO Phone (519) 367-2372 Circular Tanks Fax (519) 367-2172 LARRY HOFFARTH (519) 364-4523 • Sandwich Walls • • Concrete Foundations • • Bunker Silos • • Crane Rental • • Excavation • JIM POECHMAN (519) 367-2910 48 THE RURAL VOICE Grain Markets losing bushels but soys are very resilient when cooler temperatures and moisture do arrive. As with corn, I think the soybean crop will get backed up if harvest weather approaches what we saw last year. FEEDGRAINS Western feed grain prices are beginning to show strength following the lead of corn. Western wheat is trading $165 and western barley is selling $138 to $140. Against these prices, new crop Ontario barley is very competitive in feed rations. Elevators are paying $90 to $95 delivered right off the field. As you may have gathered, I think speculators took the markets far too low for the time of year. Sure weather looked ideal for pollination and the USDA played right into their hands by increasing yields in their July report. A similar scenario was evident in 1991 when futures prices bottomed in early July. What followed that year was a weather market that took corn prices up by 50 cents and soybean prices by $I.20. This year the market will need weather news every day to duplicate that move. I do think that grains are more correctly priced at about $2.25 on December futures and soybeans at $4.70 on November given what we know right now. However, if corn and soybeans do yield close to trend line (i.e., corn 132 bu/acre and soys 38 bu/acre) I think you can expect prices to trend down into harvest time — but markets are quite volatile now and producers should have some opportunity to forward contract new crop soys and corn that need to be moved at harvest. For the portion of the crop that producers can store, there are some very attractive bids for the winter and spring months especially for corn. But, once again producers may want to lock in some prices soon. Let's hope that we get some timely rains over the rest of the summer and get some yields that will ease the pain of these relatively low prices.0 Information supplied by Dave Gordon, LAC, Inc., Hyde Park, 519-473-9333. OPEN HOUSE The Cardoza Family's New Beef Cow Facility August 28 11:00 a.m. - 4:00 p.m. Eii li:Ei New 56' x 100' Beef Cow & Calf • Hwy. 10 Features: to Owen Sound • Custom-built headrail and gates Holland Centre • Agri -foil insulation on the roof , X Cardoza Farm • Natural Ventilation Congratulations & Thank You to the Berkley Cardozas for choosing us as your General Contractor •Markdale Steve Stueet p#e Prestige Contracting Cargill, ON 519-366-9986 _,._..i. p 48 THE RURAL VOICE Grain Markets losing bushels but soys are very resilient when cooler temperatures and moisture do arrive. As with corn, I think the soybean crop will get backed up if harvest weather approaches what we saw last year. FEEDGRAINS Western feed grain prices are beginning to show strength following the lead of corn. Western wheat is trading $165 and western barley is selling $138 to $140. Against these prices, new crop Ontario barley is very competitive in feed rations. Elevators are paying $90 to $95 delivered right off the field. As you may have gathered, I think speculators took the markets far too low for the time of year. Sure weather looked ideal for pollination and the USDA played right into their hands by increasing yields in their July report. A similar scenario was evident in 1991 when futures prices bottomed in early July. What followed that year was a weather market that took corn prices up by 50 cents and soybean prices by $I.20. This year the market will need weather news every day to duplicate that move. I do think that grains are more correctly priced at about $2.25 on December futures and soybeans at $4.70 on November given what we know right now. However, if corn and soybeans do yield close to trend line (i.e., corn 132 bu/acre and soys 38 bu/acre) I think you can expect prices to trend down into harvest time — but markets are quite volatile now and producers should have some opportunity to forward contract new crop soys and corn that need to be moved at harvest. For the portion of the crop that producers can store, there are some very attractive bids for the winter and spring months especially for corn. But, once again producers may want to lock in some prices soon. Let's hope that we get some timely rains over the rest of the summer and get some yields that will ease the pain of these relatively low prices.0 Information supplied by Dave Gordon, LAC, Inc., Hyde Park, 519-473-9333.