; - Marge carry-overs predicted as stocks accumulate GARBER OIL CO. (texacq] Flbhl Chief HEATING OIL t OIL HEATING EQUIPMENT AIR CONDITIONING MOUNT JOY, PA Ph 653-1821 BURN WOOD WITH CENTRAL HOT WATER SYSTEM COMPANION DELUXE BOILER • Proven method of boiler interconnection • Safe during electric power failure • Automatic change over from wood to oil Mfg. by Mitchell Products, RDI Box 346 A, Edwards Road, Narvon, PA 17555 NEWARK, Del. - Predicted U.S. soybean plantings for 1980 are vir tually unchanged from last year. This, together with record world oilseed sup plies and expanding soybean output in South America, means the price outlook for old crop beans this sprmg and summer isn’t too bright, reports University of Delaware crops marketing specialist Carl German. Local farmers still holi 1® -Ti. | *■ Produces up to 140,000 BTU/hr. Free delivery within 40 miles Free Literature on Request PH: 215-445-5990 Dealer Inquiries Invited on to some of last year’s beans have several marketing options. First, you can continue to store them, if you think soybean pnces will go high enough to more than cover the higher cost of storage. The direction prices take will depend heavily on weather conditions through the end of July. You also have the option of selling now for cash, if you think prices aren’t likely to Accepts 26” logs Visible secondary combustion Large firebox 23 gal. capacity water <hambtr EFFICIENCY THE PRIMARY DESIGN CRITERION go any higher. On May 28 cash beans were going for $5.95 a bushel. On June 6 they were selling for $5.77. You should also consider forward selling your soybeans, since future prices are better than cash prices right now for both old and new crop beans. National planting in tentions for the 1980 crop are one of the factors influencing this outlook, explains German. It looks like 71.3 million acres will go into soybeans-down less than one percent from 1979. Given the uncertainties about actual plantings and yield this early m the season, a crop of between 1.9 and 2.2 billion bushels is projected. The 1979 output was a record 2.3 billion bushels. Prospects are for 82 million acres of com to be planted—up two million from last year. National com production has set records every year smce 1975. While it’s too early to speculate on this year’s crop, early-season con ditions seem mostly favorable. As of the first week of June, the soybean/corn price ratio was running 2.2/1 m favor of com. Expanded soybean output in Brazil and other South American countries, suspension of soybean and product sales to Russia, and increased costs to farmers, processors and others carrying large oilseed stocks are other factors putting pressure on current bean Fully baffled for increased efficiency Accepts 30” logs 28 gal. capacity jryair intake ir> ' dwinbw imlwr COMPANION "E" BOILER Produces up to 110,000 BTU/hr. Air tight fire boxes Utilizes domestic coil in existing boiler to produce abundant hot water FREE Myson Circulator with any purchase $ 9B Value Lancaster Farming, Saturday, June 21,1980—C27 prices. On April 1, U.S. soybean stocks totaled 1.2 billion bushels compared with only .9 billion a year ago. About half were stored on farms. Soybean producers also control some of the beans off farms. With high storage costs, processors and ex porters are holding in ventories to working minunums. On the international scene, further expansion of U.S. exports this season could be stymied, predicts the marketing specialist. The reason: South American soybean production appears headed for a record. It could exceed 20 million metric tons—about five million tons or one-third above 1979. The federal government continues its efforts to offset price effects on farmers of the Russian export suspension last year. These efforts include isolating grain from markets through the reserve program and through direct purchase of com by the Commodity Credit Corporation. But many farmers had to sell gram this spring to get cash to plant their 1980 crops, so farm marketings have been large. To some extent, complam govern ment analysts, these sales have offset federal efforts to isolate gram from markets and have contributed to current weakness m prices. Locally, Maryland and Delaware farmers produced a combmed total of 75.9 million bushels of com m 1979, compared to 74 million the year before. Maryland farmers reported plans to plant a record 760,000 acres of com in 1980—an increase of 10 percent over last year. Delaware farmers ex pected to plant 178,000 acres of com—2ooo bushels or slightly more than one percent less than a year ago. Combmed Maryland-Del aware production of soybeans for 1979 was 19.5 million bushels as compared to 17.8 million in 1978. Maryland farmers intend to plant 390,000 acres of soybeans, unchanged from last year. Delaware growers said they intend to plant 286,000 acres of beans—six percent more than last year’s record high. Com stocks in all positions m Maryland on April 1 stood at 27.2 millions bushels—lB percent more than a year ago. Com stocks in all positions in Delaware stood at 6,9 million bushels—up 35 percent from April 1979. Soybean stocks stored on Maryland farms at 1.4 million bushels April 1 were down 10 percent from a year ago. In Delaware, farm stored soybeans totaled one million bushels—the largest carry-over ever recorded on this date. Delaware grain prices have been declining recently, says German. He expects any price im provement this summer to be heavily dependent on 1980 production developments, including the weather.
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