The Rural Voice, 1985-09, Page 33tionable. As far as borrowing capaci-
ty is concerned, it is obvious that with
farm -asset values declining and with
increasing importance being placed
on cash flow, borrowing capacities
are somewhat restricted. Expansion
will likely occur in the hog industry,
but it will probably be somewhat
delayed.
JUST A WORD ABOUT ...
... THE OSTRICH APPROACH:
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Maybe this "hedging" stuff is for the
birds! Why not forget about
marketing the crop, and take your
chances in the fall — you can always
store your grain.
I don't agree!
In May, December corn futures
were trading in the 2.55 - 2.60 area.
December 2.50 PUT options were
about 9 cents. December corn is
presently trading in the 2.25
neighbourhood, and those December
2.50 PUTS are now worth about 26
cents. With 10,000 bushels of corn,
the hedge would have a value of
about $1,500. The situation with
beans is similar, except that beans
have fallen further, from the 5.90
area in May to the 5.15 area present-
ly. I can't think of too many pro-
ducers I know who can afford to
waste this type of money. After all,
how many ostriches have you seen
running successful farms!
The long and short
of Commodities.
Free from Bache.
Bache's "Weekly Commodity
Digest" is now longer — and
shorter. We've expanded it to
include coverage of all ma-
jor markets. including cur-
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metals, and interest
rate futures. It encom-
passes both fundamen-
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r
technical evaluations, plus a
longer -range viewpoint. And
we've shortened it, too. The
last page summarizes all this
information, plus support
and resistance
data and
Bache's recom-
mendations, all
laid out in
reference form. So
whether you're a
trader or a
hedger or both,
send for a free 4
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tion. Just call the
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us the coupon
4-......,....,.z.-..., .t....4.,..:".7", w? . v� —
a
�r ti
•�``� `��- r
Bache Securities Inc.
376 Richmond Street, Suite 200
London, Ontario N6A 3C7
(519) 673-3600
Watts Line 1-800-265-1570
Please send me a 4 week trial subscription of your
"Weekly Commodity Digest."
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ache
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Put it to work for you.
SEPTEMBER 1985 31
_J