The Rural Voice, 1991-11, Page 19Snowblowers
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NISA
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MEETINGS
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271-0280 or 1-800-265-8502.
Ontario
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GRAIN MARKETS
RECORD HARVEST
My comment this month will be very
brief as we are trying to contend with an
unbelievable corn and soybean harvest.
CORN
The basis levels for corn are reflecting
the crop size in certain parts of Ontario.
While the elevator basis in Chatham has
held at 20 cents under December futures,
basis in Woodstock has dropped to 25
cents under December, and 20 cents under
December in Huron and Perth. This is the
first time in my memory that the Wood-
stock basis has been lower than the
Chatham basis.
At long last, Ontario is back in the
export market with an announcement that
Russia has purchased Ontario corn. In
fact, we think that the USSR has bought
about 275,000 metric tonnes, and in addit-
ion to this, Morocco has bought 25,000
metric tonnes, and about 100,000 metric
tonnes is being shipped to the U.S. Next
month I will look at the supply/demand
scenario for Ontario given a larger than ex-
pected crop as well as the export situation.
Finally, basis levels in Ontario are be-
low export values. This should allow,for
improvement as soon as harvest is
complete.
SOYBEANS
Soybean basis levels dropped in res-
ponse to the heavy shipments to the crush-
ers over the past month. Soybean yields
have been excellent in many areas, and it
would appear the crop size will be around
45 million bushels. As I've said before,
the domestic crush uses about 31 million
bushels, so Ontario will have to export a
large portion of the crop. I don't see basis
levels strengthening in the near term be-
cause of the large stocks that are available
to be crushed.
FEED GRAINS
Feed grain prices have remained rela-
tively firm, especially when the price of
corn is considered. Ontario barley has
been selling in a range of $90 to $95 per
metric tonne, while mixed grain is in the
$75 to $80 area.
Next month, we should have a much
clearer idea as to the crop sizes in both
Ontario and the U.S., and also be able to
discuss the usage better than we can right
in the thick of harvest.0
Information supplied by Dave Gordon,
LAC, Inc.. Hyde Park, 519-473-9333.
Are You Receiving The Maximum
Benefit From Government Programs?
NISA and GST programs can all generate significant cash
flow to your farming operations. However, the reporting
requirements might seem overbearing to you.
We, at Ward & Uptigrove, in addition to providing our farming
clients with financial and taxation services, also ensure they
have complied with government forms to maximize their
refunds from all government programs.
If you believe you need assistance with maximizing your
returns from government programs, please call us.
Listowel
291-3040
Ward & Uptigrove Mitchell
Chartered Accountants 348-8412
NOVEMBER 1991 15