The Rural Voice, 1988-05, Page 39GRAIN MARKETS
corn coming into Ontario, as Mich-
igan corn is 20 to 25 cents higher than
Ontario corn delivered into London.
Although initially beneficial to
Ontario corn producers, countervail-
ing duties have had the effect of taking
us out of any significant export mar-
kets. As a result, instead of a short
period of pain to remove excess corn
from the marketplace, we are experi-
encing a prolonged period of lower
than normal prices. A short crop in
1988 is probably required to turn the
Ontario market around.
Basis levels at Western Ontario
elevators are 10 to 20 cents over May
futures for old crop corn and 20 to 30
cents over December futures for new
crop. Basis levels for old crop may
show some improvement in May when
producers are doing field work, but
new crop basis likely will not change
until crop size and conditions are
known this summer.
FEED GRAINS
Western barley stocks remain high
and Ontario barley is plentiful but
prices are remaining firm relative to
corn values. It appears that much less
barley is being planted in Ontario and
15 per cent less in Western Canada.
Currently Ontario feed barley is
trading in the $88 to $90/mt. range
F.O.B. farm. New crop barley is
being contracted at $75 to $80/mt.
F.O.B. farm at harvest time.
Generally speaking, at this point
oilseeds have moved into a profitable
position for producers while corn and
feed grains are still relatively low-
priced although the future appears
positive, as evidenced by new crop
corn values.0
The information herein is taken
from sources believed to be reliable,
but accuracy and completeness are not
guaranteed.
Dave Gordon is a grain mer-
chandiser with London Agricultural
Commodities, Inc. in Hyde Park,
Ontario, telephone 519-473-9333 or
1-800-265-1885.
EST. 1873
hOWiCk MUTUAL INSURANCE COMPANY
Wroxeter, Ontario
NOG 2X0
Tel. (519) 335-3561
1-800-265-3033
For Farm, Residential,
Automobile and Commercial
insurance contact
the Howick Broker near you.
Brown Insurance Brokers, Palmerston 343-2663
Paul Brown General Insurance, Palmerston 343-2663
Cardiff & Mulvey Insurance, Brussels 887-6100
Elliott Insurance Brokers, Blyth
Gaiser-Kneale Insurance, Clinton
Exeter
Grand Bend
Hensall
Vern Hargrave Insurance, Dundalk
Johnson-Dadson Insurance, Listowel
Keil Insurance, Gorrie
Wingham
Bryan Lavis Insurance, Clinton
Lyons & Mulhern Insurance, Goderich
McDonagh Insurance, Lucknow
Teeswater
Milverton Insurance, Milverton
J.P. Uniac Insurance, Mitchell
Glenn Warren Insurance, Clifford
Hanover
Wylie Insurance, Gorrie
Harriston
523-4481
482-9747
235-2420
238-8484
262-2119
923-2244
291-2964
335-3525
357-2636
482-9310
524-2664
528-3423
392-6200
595-8108
348-9012
327-8041
364-4039
335-3193
338-3847
Over one hundred years
of continuous community service
MAY 1988 37