The Rural Voice, 1992-11, Page 21Grain Markets
will be replaced by western feed wheat
and coupled with the late harvest
which will shorten the crop year, corn
usage will likely be down from 1991-
92. It still appears that the Ontario
crop will be reduced by 15 per cent or
more from last year even though Stats -
can figures show a drop of only 8 1/2
per cent. If our crop is down by 15 per
cent, we will likely see some imports
of U.S. com in 1993.
SOYBEANS
Soybean harvest started out with a
bang in early October, but came to a
grinding halt when the rains hit right
after Thanksgiving. The early harvest-
ed beans have been a disappointment
and prospects for anything better likely
won't change with further harvest. The
harvest in the U.S. has progressed quite
well and although yields aren't fantas-
tic, they are higher than expected. To-
tal U.S. production was raised by 23
million bushels from the September re-
port, but as I stated earlier, the demand
for soy products is excellent and should
remain good throughout the winter
months.
Back to Ontario, Statscan has pro-
jected the soybean crop at 53 million
bushels, but most industry people
believe the crop is closer to 42 million
bushels. Considering the Ontario crush
should be 38 million bushels, the soy-
bean supply will be very tight in 1993.
Current basis levels for soybeans at
Ontario elevators range from 65 cents
to 75 cents over November futures.
This is higher than it was earlier in the
summer because of the drop in the
Canadian dollar, and with the dollar
trying to stabilize near 80 cents U.S.,
basis should not fluctuate too much.
Futures prices are trying to hold above
contract lows and trading between
$5.40 and $5.50 on the November
contract.
FEEDGRAINS
As I mentioned earlier, the abundant
supply of westem feed wheat will find
its way into feed rations in Ontario to a
larger extent than in previous years.
Because of the large supply of feed
wheat, prices are very competitive with
corn and certainly displaces barley.
Ontario barley is trading for about
$100/mt as are mixed grain and feed
oats. However, milling oats are priced
about $15 to $20 higher.
The next month will see most of the
MEQ°"
Snowblowers
Efficient Single Auger does the
work of two augers:
For Tractors up to 25 HP
51" Width or
60" Width
Manual or Opt.
Hyd. Hood Turn
For Tractors up
to 75 HP
75" Width or
87" Width
Hydraulic or Manual
Hood Turn
CALL US
For Your Local Dealer
519-699-4545
Fax # 519-699-4876
We have the Experience and
Specializing in:
❑ Farm and Municipal Drainage
❑ Open Trench or Plow Method
❑ Backhoe and Dozer Service
❑ Clay & Plastic Tile Installations
❑ Septic Systems Installed
For quality and service call
WAYNE COOK
R. R. 2, Zurich 519-236-7390
Drainage Tubing
PARKER & PARKER
Limited
NOVEMBER 1992 17