The Rural Voice, 1988-03, Page 41MARKET UPDATE
ing of the USSR being attempted by
Mr. Gorbachev. Yet in both cases
signs of progress can be seen. The
grudging acceptance of lower prices
and production stabilization by EC
states is a step in the right direction.
However, if Mr. Gorbachev is
successful in some of his plans, then
the slight restraint on EC grain output
could be overshadowed quickly by
changes in Soviet import demand.
The 1988 Soviet grain production
target is 235 -million tonnes, roughly
25 million above 1987 levels. If
achieved, this targeted output would
cut Soviet import demand by 10 to 15 -
million tonnes.
The EC grain issue is thus part of a
much larger world market. However,
EC grain policy has been a major irri-
tant to the U.S. If EC policy begins to
shift in a direction acceptable to the
U.S., perhaps the U.S. will pursue its
grain war a bit less aggressively.
—from an article by Douglas Murch
LOCAL BASIS LEVELS
CORN: Local values for old crop corn
continue lower and supply seems to
outweigh demand at this level. It ap-
pears that corn is within 5 to 10 cents
of being competitive on an export
level. A very small amount of corn
has been railed to the U.S. recently,
only competitive due to preferential
freight tariff available to the exporter.
March corn is presently showing
support of $1.98 1/2 with resistance at
$2.02. New crop December futures
have rallied some, with support sitting
at $2.17 and resistance now at $2.20.
SOYBEANS: Soybean basis continues
to decrease gradually, down now to
around $1.15 plus March futures for
FOB farm beans but no delivery is
available until March because of abun-
dant supplies and breakdowns.
New crop basis is also showing a
steady decline while Chicago prices
are presently testing contract highs.
Chicago March beans are showing
support at $6.24; resistance at $6.33.
November beans show support at
$6.44 and resistance at $6.55 after a
contract high of $6.58 1/2 on Feb. 18.0
The information herein is taken from
sources believed to be reliable but its
accuracy or completeness is not guar-
anteed. Ag -Com Trading Inc., in Exeter,
is a cash grain merchandising firm.
Phone 235-2520 or 1-800-265-7046.
imi
GROW THE RIG
SOYBEAN
FOR YOUR LAND
NK PHYTOPHTHORA TOLERANCE
In trials, NK soybeans consistently score Hoot -rot losses at only
a fraction of the average. This year new S09-70 brings this NK
feature to 2800 H.U. maturity area. Where phytophthora is
a threat, NK soybeans can help keep populations steady.
NK SEED QUALITY
Sure you can get away with bin -run seed. But that doesn't mean
it's making you more money. Every year, more NK soybeans
are planted. That wouldn't happen if growers weren't seeing
a return in better yields. You can count on the seed condition
and genetics of NK certified soybeans. And again this year,
for your convenience, all Northrup King soybeans will be pre-
treated with Vitaflo-280®* at no extra cost. Check with your
dealer for details.
6 VARIETIES FOR '88 INCLUDING NEW S09-70
There's a soybean for everyone in NK's '88 line-up. Your NK
dealer can help you match the right soybean to your land for
top yield potential. With new S09-70, the in -demand features
of a tall, harvestable, yellow -hilum NK variety are now
available in 2800 H.U. areas. Get a good start on your '88 crop
- see your NK dealer early.
1988 NORTHRUP KING SOYBEAN EVALUATION CHART
Heat Hilum Lodging Root Rot %ant Recommended Recommended
Variety Units Colour Resistance Loss (46) Height tin) Rex Width (,n) Sod Type
50970 2800 Yellow
S 1346 2900 Yellow
S 1550 2900 Grey
8 152 2900 Yellow
523.03 3100 Butt
S24-24 3100 Yellow
8 34 7 - 24 Sand - clay loam
5 28 7 - 18 Sand - loam
7 36 7-30 Loam - clay
4 32 7 - 22 Sand - clay loam
6 35 7 - 30 Loam - clay
5 36 7 - 30 Loam - clay
'Vitaflo 280' Registered trademark of Uniroyal
"Lodging resistance based on scale of 1-5 where 1 = excellent 5 = poor
"'P R R rating based on 1988 Ontario Soybean Variety trial report
1250 Franklin Blvd., Box
Cambridge,, 6C9
Ontario NIR 6C9
1207
NONTNIIUP KING (519) 621-0890
Vitaflo-280® Registered trademark of Uniroyal
MARCH 1988 39