The Rural Voice, 1993-02, Page 191
Grain Markets
USDA numbers
cause shock
The latest USDA report, issued
January 12, 1993, shocked many
people with its large production
figures. However, if one looks at the
projected usage levels for corn and
soys, the situation begins to look a
little better. In fact, with estimates
for 1992 wheat production and
projected acreage for 1993, a
somewhat bullish scenario emerges.
CORN
USDA estimated a record 1992
crop of 9.48 billion bushels which
was a surprise to many pundits.
However, offsetting the production
figure is the fact that the total U.S.
corn supply of 10.58 billion bushels
is similar to half of the last 10 years.
As well, projected usage was set at a
record level mainly through
increased domestic feed and
industrial demand. As a result, the
projected carryover is lower than the
average of the past 10 years.
An interesting fact included in the
USDA stocks report indicated that,
as of December 1, 1992, one billion
bushels of corn stocks were still in
the field.
In Ontario, basis levels for corn
have weakened slightly this month
and grade discounts have widened in
an attempt to get the lower grades
moved. The relative amounts of
quality seem to break down roughly
into one-third grade 2 and 3, one-
third grade 4 and one-third grade 5
and lower. Much of the ownership
that elevators are holding consists of
grade 4 and 5 and they are trying to
either blend these grades up or sell
them off.
If you look at a supply/demand
for Ontario corn, it appears that
Sprayer Clinic
Location:
<HARDI>
MIV
Crop application experts
will be on hand 10 answer
your questions.
• Equipment
• Salety Ialom
• Sensible indleld practices and
• techniques
• Nozzle uIeclldn
• Sprayer calibration
Mark the date on your
calendar
JIM HARKNESS EQUIPMENT LTD. Date: FEBRUARY 2
R. R. 4, Harriston 338-3946 Time: 10:00 a.m. - sprays & application
1:00 p.m. - sprayers & operation
GOWLAND'S FARM EQUIPMENT LTD Date: FEBRUARY 2
Grand Valley 928-2001
Time: 1:30 p.m.
MILTON J. DIETZ LIMITED
R. R. 4, Seaforth 522-0608
Date: FEBRUARY 4
Time: 1:30 p.m. - call to register
REAVIE FARM EQUIPMENT
Hwy. 86 W., Lucknow 529-7995
Date: FEBRUARY 11
Time: Call for time
MIDWESTERN EQUIPMENT
(LISTOWEL) LTD.
R. R. 1 Listowel
291-2697
Date: FEBRUARY 15
Time: 1:00 p.m.
STANLEY FARM SUPPLIES
Teeswater 392-6825
Date: FEBRUARY 19
Time: 10:00 a.m.
McGAVIN FARM EQUIPMENT
Walton 887-6365
Date: FEBRUARY 24
Time: Call for time
BECKER FARM EQUIPMENT LTD. Date: FEBRUARY 26
Exeter 235-2121
Time: Call 235-2121
MULLIN'S FARM SERVICE
Chepstow 366-2325
Date: MARCH 9
Time: 1:00 p.m.
FEBRUARY 1993 15