The Rural Voice, 1993-12, Page 24fti' AfQ
SINCE 1876
Blanshard Mutual
Insurance Company
293 Queen St W , Si. Marys, Ont. N4X 1B4
519-824-3084
9 -[appy holidays and heartfelt thanks
to our many policy holders and friends.
Serving the community for over 115 years
Agents:
Bruce Hanly 229-6560
Ian Morrison 349-2592
James R. Stacey 284-3326
'[Tie spirit of Christmas is in the air and with it
we extend. our warmest wishes for a
Happy and ?Healthy Holiday Season.
We have increased our F1 gilt
production to serve the growing demand.
Call now to book your 1994 gilt & boar requirements
PROVEN GENETICS TODAY. BETTER GENETICS TOMORROW
Call Today Phil Smith 764-2898 res.
Boar Store 887-9206
Fax 764-2696
R. R. 5, Brussels, Ont. NOG 1H0
20 THE RURAL VOICE
Grain Markets
carryover was projected to drop to 170
million bushels or 8.66 per cent of total
usage. However, one must look at the
world oilseed situation which is
relatively flush in comparison to coarse
grains. Remember that South America
is now planting their soybean crop and
it is likely to increase in size with the
higher prices. Soybean prices did
respond to the USDA report of
November 9, but a good deal of support
is coming from the corn market. As I
stated earlier, soy prices will probably
lose ground relative to corn prices.
In Ontario, the harvest is complete
and definitely a record crop is in the
bin. As with corn, our stronger basis
levels are tied to higher futures prices
and the Canadian dollar which is a full
600 points lower than one year ago.
Today, elevators are paying $1.55 over
January futures while 1994 new crop is
$1.45 over November futures.
FEEDGRAINS
Western feed grains strengthened
over the past month mirroring some of
the action in Chicago. Wheat prices
gained about $15/mt to the $130/mt
area while Western barley is selling for
between $120 and $125. You can see
that at these prices, com will have a
tough time competing in feed
formulation. It would appear that even
more feed wheat will move into
Ontario in 1994 than during this past
year. Ontario feed grain prices have
also strengthened along with the other
grains. Today barley and mixed grain
are trading for about $100/mt, a good
improvement over the past three
months.
Finally, markets like we are seeing
today come along every few years and
in between prices flounder. Good
marketers generally become very
aggressive when futures prices increase
into the $3 area for corn and the $7 area
for soybeans. After the very low prices
of the past two years, many more
producers should become aggressive
and be ready to sell their 1993
production as well as a good portion of
their 1994 production. Anybody can
forward contract at a loss so when a
profit can be locked in, even one year
or more ahead, it makes good business
sense to do so.0
Information supplied by Dave Gordon,
LAC, Inc., Hyde Park, 519-473-9333.