HomeMy WebLinkAboutClinton News-Record, 1978-01-19, Page 16PAGE 16--CLINTON NEWS -RECORD, THURSDAY, JANUARY 19, 1978
Stabilized corn prices are likely
Ontario grain corn
producers can expect
"substantial" stabilization
payments for their 1977 corn
crop, according to Morris
Huff, secretary of the Ontario
Grain Corn Council.
He 'told 'a third -day Far-
mers' Week audience at.
Ridgetown College of
Agricultural Technology last
week that the federal -
provincial stabilization
payment plans will set a price
for corn somewhere between
$2.35 and $2.45 a bushel.
The stabilization plans are
aimed at paying the 'farmer
the difference between what
he receives for his corn and
the average price from the
previous five years.
"Right now the price on the
1977 crop, is below $1.90 a
bushel and I don't foresee any
substantial gains," Huff said.
He warned producers that
before planning what to plant
this spring, they should take
into consideration present
corn prices and potential
stabilization payments.
Long -run corn production
in Ontario should increase
from this ,,year's record 150
million bushel crop to about
175 million bushels by 1985
and 200 million bushels before
1990, Huff forecast.
"If corn sweetener
production plans (announced
last week by the St. Lawrence
and Canada Starch com-
panies) materialize, . .in-
dustrial purchases of corn in
eastern Canada will approach
40 million bushels in the
1980's, about 10 to 15 million
bushels above 1977,-" he said.
Traditionally, Ontario corn
has been sold mainly as
livestock feed, but as in-
dustrial use increases along
with exports, Huff warned
that produccrc .'ill h:tv; to
Bean board close to filling
1977 contracts
The Ontario Bean
Producers' Marketing Board
is , closer to filling forward
contracts for the 1977 crop
than was expected, board
chairman Lloyd Taylor of
Elgin County said in an in-
terview last week.
The board last fall forward -
contracted 850,000 bags (100
pounds each), anticipating a
record 2.5 million -bag crop.
But heavy fall rains
devastated the crop and the
board found itself with fewer
harvested beans than it had
contracted.
Taylor said 800,000 bags are
accounted for in the elevators
and another 70,000 bags have
been reported by farmers.
However, many of the beans
are not top grade and it is
expected up to 150,000 bags
are not of canning quality.
Board manager Charles
Broadwell of London told the
Farmers' Week at the
agricultural college in
Ridgetown there are a
"subfs-tantial" number of
beans being held back by
farmers for planting this
spring.
"We feel there are over
100,000 bags being held
back," far more than the
required 60,000 bags,
Broadwell said, adding that
hybrid seed producers
already have made available
40,000 bags.
Broadwell said the farmers
are preventing the board
from meetings its contract
requirements.
British canners, Ontario's
largest market, have agreed
to accept discolored beans
with top grade taste and
texture instead of top grade
white beans, Broadwell said.
The discolored beans are
selling at a 50 -cent -per bag
discount. w
Broadwell said there is the
possibility some customers
will refuse to accept anything
other than the top grade white
bean.
Michigan, Ontario's major
competitor in foreign
markets, had a large crop
despite poor weather last fall,
Broadwell said, but like
Ontario has experienced bean
discoloration.
Ontario seed prices this
spring are expected to run
about $25 a bag, well under
$45 some producers paid in
Michigan, Broadwell said.
For the 1978 crop, the board
is going to establish a two -
pool grading system because
it anticipates some residual
quality problems, he said.
The number one pool will
involve only top -grade beans
in color, taste and texture.
The number two pool will
involve all other grades and
will be discounted.
Farmers owe banks 81 million
Bank loans to Ontario
farmers have doubled since
1973 and now exceed $1
billion, the Canadian
Bankers' Association said
last week.
In a review of banking
trends in Ontario, the
association said farm loans
increased by nearly $250
million or 28 percent during
the last year.
This compares with a total
increase of less than 22
percent for all provinces of
Canada during the same
period, the association said.
Ontario accounts for about
30 percent of the $3.58 billion
in bank farm loans across
Canada, it said. Banks
provide more than half of the
credit extended to the farm
sector.
In other lending categories,
there was also a strong rise in
home financing. The banks'
residential mortgage loans in
Ontario rose by 25 percent to
$3.81 billion from $3.04 billion
during the 12 months.
Total loans to businesses in
the province were up by about
16 percent while loans to
small businesses expanded at
a rate of 19.5 percent to $2.42
billion.
Loans to small/businesses
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and account for more than 90
percent of all individual
business loans by the banks,
the association said.
Personal loans increased to
$7.23 billion from $5.94 billion
during the 12 months.
Personal savings deposits
in Ontario rose to $18.99
billion from $15.81 billion.
The best gains among the
individual components of
personal savings were in non-
chequable deposits, up 20
percent to $9.40 billion, and
term deposits, which rose 31
percent to $6.28 billion.
The figures are the latest
available from the Bank of
Canada and cover the 12
months ended June 30, 1977,
-the association said.
improve the quality of their
corn through better har-
vesting . and drying
procedures.
Instead of processors and
elevators paying premiums
on high grade corn as they do
now, they will begin to
discount inferior quality corn
in the future, Huff suggested.
He also urged Ontario
producers to maintain a
steadier flow of corn to the
marketplace to prevent
periodic shortages and the
resulting loss of sales to the
U.S.
By forward contracting and
futures buying and selling,
farmers can better assure
themselves a profit margin
than if they hold their corn off
the market continually for an
unreasonably high price, Huff
said.
Iowa State University
economist Dr. Robert Wisner
said corn prices could rise to
the $2 a bushel level this
spring, but soybean prices
may drop slightly because of
larger supplies.
Wisner said corn prices
could go as high as $2.10 from
the present level of about
$1.90 but soybean prices could
drop from $5.60 a bushel to as
low as $5.25.
He was analysing the 1978
corn and soybean outlook for
the United States. However,
Canadian prices are set by
the American market
situation.
"With increased Soviet
(corn) import needs, the
price outlook is more en-
couraging, than expected
three or four months ago,"
said Wisner.
"But a major rise to
present price levels would
require either- an unex-
pectedly large increase in
U.S. corn feeding (for
livestock) or serious crop
problems in major world
grain -producing areas."
World feed grain use is
expected to decline 1.2 per-
cent from a year ago, he said,
but Russian imports are
expected to be double those of
last year because of Soviet
droughts.
However, increased Soviet
imports of North American
corn will be partially offset by
a sharp rise in 1977 West
European grain production.
This will likely result in
Europeans importing less
American corn, he said.
By, late 1978, corn prices
will, be influenced by an ex-
pected decline in U.S. corn
acreage, Wisner forecast.
Other influences would be
expected larger world corn
yield and a continued
levelling or drop in livestock
feeding.
The 1978 soybean price
outlook is based mainly on a
34 percent increase in 1977
from the previous year, 'he
said. About half the increase
will be offset by lower price
corn competition, said
Wisner.
With increased soybean oil
exports from Canada,
Europe. India and the
Mediterranean, U.S. soybean
oil exports are expected to
drop, he said.
A continuation of relatively
attractive price levels, should
result in increased planting in
1978, with land being shifted
from corn and cotton into
soybean production, said
Wisner.
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HUTCHINS WELDING
RR 2 CLINTON '
The Western Ontario Tractor Pullers Association held its annual banquet, trophy
presentation and dance at Saltford Valley Hall on Saturday evening. Almost 50 trophies
were presented to pullers in nine different classes. This year, a new award called the Mr.
Congeniality award, was given out to a puller voted for by the other pullers. Here, Mrs.
Murray Popp of Auburn, organizer of the banquet, awards the Mr. Congeniality trophy to
Harvey Holland of Clinton (right). Runner-up was Wayne Whalls of Sheddon. (staff photo)
I
news farm news
4
Plowmen's convention on
The Ontario Plowmen's
Association Convention will
be held at the Royal York
Hotel, Toronto, on February
13 and 14, 1978.
A United Trails coach will
leave from the Seaforth and
District High School at 7 a.m.
on Tuesday, February 14. If
required, a second bus will
leave Wingham at the same
time. Anyone with an interest
in travelling to the O.P.A.
Convention to support the
Huron County delegation in
their presentation, should
contact Bob Gibson in the
North (335-3277), Claire
Deichert in the South (236-
4130) , and the Agricultural
.Office. Clinton in central
Huron . (428-3428 or Zenith 7-
2800) by February 3.
If there is enough interes$
shown, arrangements will be
'made for a bus on Monday as
well. Please contact the same
people mentioned if you wish
to go on Monday.
Phone the Ontario Ministry
of Agriculture and Food,
Clinton, if you wish ac-
commodation at the Royal
York Hotel for Sunday or
Monday night. Please call
prior to February 3.
The program begins on
Monday, February 13, with
registration at 1 p.m. From
1:30 until 4 there will be a
discussion by Ed Starr,
director, O.P.A., about the co-
operative roles of the O.P.A.
and the local committee. This
will be very timely in-
formation. All committee
chairmen should try to be
there. In fact, this should be
considered a Command
Performance!
There will be an evening
banquet with entertainment
arranged by Miss Zena
Cheevers.
The Huron County
presentation will be on
Tuesday, February ,14,
beginning shortly before
noon. The Seaforth and
District High School Girls'
Band will be leading this
delegation in. Several from
this delegation will be
speaking, including chairman
Howard Datars, vice-
chairman Roy Pattison,
O.P.A. director and host
farme.,Jim Armstrong, as
well as the 1978 Huron County
Warden Gerry Ginn.
It has been requested that
the entire Huron delegation
remain in place while
agricultural representative
Don Pullen gives a short
address about Huron County.
The band will then lead the
entire delegation out.
Almost immediately
following will be the noon
luncheon. The Honourable
Wm Newman, Minister,'
Ontario Ministry of
Agriculture and Food, will be
the guest speaker.
Huron County will have a
hospitality suite,, as in
previous years. There will be
notices about the location in
the hotel.
The support of "great
masses" of people from
Huron County would be ap-
preciated at the Convention.
Farm receipts rise
Farm cash receipts for the
first 11 months of 1977 were
up from the corresponding
period in 1976, a reversal of a
downward trend that had
predominated for the most of
last year, Statistics Canada
said last week.
The statistics -gathering
agency said cash recepits
totalled $9.222 million from
January to November of 1977
compared to $9.205 million in
the same period in 1976.
Earlier in the year, farm
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35 MARY ST., CLINTON 482-9792
Open: Mon. -Fri. 5:00 - 6:00 p.m.: Saturday 5:00.12:00 noon.
cash receipts had trailed
behind the 1976 level.
Junior Farmers keep active
West Huron Junior , Far-
mers tried out their bowling
skills at the Lucknow Bowling
Alley on Tursday, December
29. After the bowling fun a
get-together was held .4.t Mel
Ritchies' place (past
president). The evening was
enjoyed by everyone.
The annual banquet and
dance was a success.
'he slide presentation on
Australia and New Zealand
given by Dixie Cameron was
very interesting and in-
formative.
Susan Irvin recently at-
tended a communications
41111116
retreat at Boyd's Con-
servation Area near Toronto.
Members are reminded of
the annual county meeting at
the Clinton high school on
January 23.
Your Voice
in
Clinton and Area
since 1865
CLINTON
NEWS -RECORD
UPI.-
HAD YOUR PUMP 46'
CHECKED LA TEL Y?
FAST EFFICIENT
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RE ASIJNARE E
BR/NG YOUR PUMP TO
74e Peon/6 peon
MINOR REPAIRS OR SE RVICE PUMP
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WHEN YOU ARE HERE. ASK TO
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WASHER WITH THE NEW
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SALES AND SERVICE
HIGHWAY 8, EAST OF CLINTON
_ PHONE:482-3418
10
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BUS TRIP
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CANADA
FAR SHOW
on
Wednesday, February 1
BUS LEAVES WALTON AT
8:00 A.M., DFPARTS FROM
TORONTO AT 6:00 P.M.
McGAVIN
FARM EQUIPMENT
Phone for Reservations...
Call 527-0245 or 887-6365
FRANKLIN
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1
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