The Rural Voice, 1987-11, Page 19MARKET UPDATE
previous year and 536 million bushels
two years ago. Ending stocks of 367
million bushels would be 18.3 per cent
of total usage compared with 21.3 per
cent a year ago and 28.5 per cent two
years ago. Historically, stocks are still at
relatively high levels, suggesting no
overall shortage of supply.
Technically, soybean futures re-
main in a sideways pattern with really
nothing on the horizon to indicate a
breakout from this pattem. Unless ex-
port sales exceed current projections,
the rising CCC resale price should con-
tinue to cap price rallies. Some prob-
lems with the South American crop
would probably be required for prices to
exceed that level this winter.
Corn — Local Basis
Cash prices for local corn have been
very weak because of good weather
conditions permitting rapid harvest, low
moisture content off the field, and stor-
age facilities filled beyond capacity.
Once harvest is complete, cash values
should show some strength. At this
time, there is no indication of any export
market development for this year's
crop. One might consider forward con-
tracting for the winter months.
Soybeans — Local Basis
The local basis is presently at the low
of the year. Yields are far in excess of
previous years. Crushing plants are
working to capacity, deliveries are slow,
and it is expected that pressure will
continue until harvest is well com-
pleted.0
The information herein is taken
from sources that we believe to
be reliable, but is not guaran-
teed by us as to accuracy or
completeness.
Ag -Com Trading Inc., located
in Exeter, is a cash grain mer-
chandising firm. Telephone
numbers are 235-2520 and 1-
800-265-7046.
Standandyield
The one word that describes Pioneer. brand hybrids
3851 (2600 heat units)
3949 (2650 heat units)
3902 (2700 heat units) NEW
at units
PIONEER HI -BRED LIMITED, CHATHAM, ONTARIO N7M 5L1
PIONEER. and SILA-BAC. Brand Products are sold subject to the terms and
conditions of sale which are part of the labelling and sale documents.
Pioneer and Sila-bac are brand names; numbers identify products. '`,sM trademark and
servacemark, registered or applied for, by Pioneer Hi -Bred Limited, Chatham, Ontario, Canada
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NOVEMBER 1987 17