The Rural Voice, 1998-04, Page 24For
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DRAYTON
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WALTON
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(519) 345-2734
BSM Agri Ltd. R.R. #4 Arthur, ON, Canada NOG 1A0
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4
Decision Making is Tougher Than Ever!
The biggest change in the farming business is the rate of change. Farm
managers are now faced with a multitude of issues which are more complex
than ever. At times, the options and the consequences are overwhelming to
the decision maker.
For 30 years Ward & Uptigrove has been helping farmers
make decisions by providing advice with respect to:
• financial projections for expansions or other projects
• bookkeeping and accounting systems
• income tax planning and annual income tax filings
• government assistance programs including NISA
• estate and retirement planning
• business succession
• GST issues
Give us a call. We would be pleased to meet you to review your farming
business and the issues you face. If you decide we are the type of people you
need to succeed — great. If you decide not to use our services, at least you
will have received some fresh ideas and a free coffee.
WARD k
UPTIGROVE
145 MAIN STREET EAST
LISTOWEL, ONTARIO N4W 3H2
PHONE: 519-291-3040
Fax: 519-291-1850
EMAIL WUCAOWU.ON.CA
PARTNERS:
R.E. UPTIGROVE, CA
C.D. NEWELL, CA
R.H. LOREE, CA
G.J. MARTIN, CA
N.M. MACLENNAN, CA
T.J. SOLTYS, CA
PRINCIPALS:
B.R. BUCHANAN, CGA
P. HAK, CMA
G.T. SLOT, CA
R.K. UPTIGROVE, CA
20 THE RURAL VOICE
It would appear that, unlike in the
U.S., the Ontario soybean acreage will
decline slightly this year with more
wheat in the ground and more com
acres anticipated. Typically, Ontario
yields are not affected too much in El
Nino years compared to the U.S., but
we are encountering the strongest El
Nino in years, so it's anybody's guess
as to what the summer will bring. Once
again, it will take a weather scare to
make prices perk up from today's
levels.
FEEDGRAINS
Western feed grain prices have
softened along with other grain markets
over the past month. Western barley is
selling for $151/mt while western feed
wheat is trading in a range of $176 to
$181/mt. Ontario barley is trading for
about $130/mt.
This is the time of year when
producers should have most input
decisions made and are just waiting for
spring to arrive. You may want to make
some changes after the planting
intentions report is issued on March 31
but I'm sure your basic intentions
won't change too much.
Planting intentions and quarterly
stocks reports will be out on March 31
and these reports will give us some
direction early in the spring. As I men-
tioned earlier, both corn and soybean
acreage will likely be up by two million
acres which would give us record soy
acres but not a record corn acreage. On
the other hand, quarterly stocks should
show good usage of both corn and soys
from December to March 1 which
could give old crop prices a little shot
in the arm. But keep in mind what I've
said about livestock numbers over the
next six months. One ironic fact is that
red meat was being produced in North
America for the Asian market which
has collapsed, at a time when Asia also
had record livestock numbers. The
Asian herds will be reduced because
they now can't afford to buy feed.
All of these reports will be of little
account if good old El Nino starts to
play havoc with crop conditions this
summer. As a marketer, a producer
should not put all of his eggs in one
basket. Spread the selling out, use a
combination of flat price and basis
sales and look for a seasonal high in
futures prices this summer. Don't go
for the market top, just be comfortable
with the price you're selling.0
Information supplied by Dave Gordon,
LAC, Inc., ilyde Park, 519-473-9333.