D4—Lancaster Fanning, Saturday, June 18,1983 Report on PIK forecasts CHICAGO, In a special research report on the impact of the U.S. Government’s Payment- In-Kind (PIK) program, Merrill Lynch Futures Inc. has forecast sharply mcreased ending stocks of wheat and feed grains for the 1983/4 season. James A. Culver, director of research for Merrill Lynch Futures Inc. said, “With normal weather, production reductions should range from 9 percent for soybeans to 33 percent for rice compared to 1982/3. However, commodity stocks are very large and since farmers will keep their best land in production, higher (Continued from Page 02) headquarters where he will un dergo an intense preventative herd health program before he joins 60 other bulls being sampled this year. Terrapin NOD-ET 1881562 is sired by Wagnerscrest Ivanhoe Astronaut, a genetically superior bull with +1525m +.05% +63f +521277%R. His dam is Terrapin Jet Stream 1180, VGBS. She was specially selected because of her out standing type and production with a top record at 3~6 365 d of 24970 m, 1164 f, a cow index of +1904m +.00% +7of +5253. She is sired by Arlinda Jet Stream-twin. A young Holstein bull bred by Mark S. Yoder. Belleville, Pa. 9H873 Sir Els Rickyside Jet MARK 1870089 is also located at Sire Power headquarters. Sir Els Rockyside Jet MARK 1870089 is sired by Arlinda Jet Stream-twin, a genetically superior bull with +2104 -.21% LOOK WHAT WE CAN DO FOR YOU TOBACCO - We offer 6 grades of Premium Grade Tobacco Fertilizer Call (fe-Wecan meet your soil test needs with a tobacco grade fertilizer. Also: We can handle your tobacco spraying needs. - Topdress now after first cutting. Remember, established alfalfa is a legume and does not need nitrogen. Insecticide spraying after first cutting. SOYBEANS - Asgro soybeans avail- ALFALF able. CORN - We have rental equipment to sidedress corn. tf ( BULK BLENDS 1 r.i fUmUfmmmm [ ANHYDROUS AMMOWA j ORGANIC PLANT FOOD CO. 2313 NORMAN ROAD, LANCASTER. PA. PHONE; 717-397-5152 Hours: Monday thru Friday 7 to 5, Saturday 7 to 12 1 ields will offset part of the reduction in harvested area. The PIK payments plus 1983 crop grain will likely exceed use for wheat, feed grains and cotton. For these crops, ending free stocks could increase during the coming season and hold average farm prices near price support floor levels. The Merrill Lynch report also forecast a slight decline in ending free stocks for soybeans and a sharp.decline for rice, from 40.4 MIL CWT to 25 MIL CWT. Specifically, the Merrill Lynch report forecasts: •Wheat - Total ending free stocks at the end of the 1983/4 Sire Power +43f +s2l7. His dam is Y-Brookside Chairman Snow 108 VG(BS). She was specially selected because of her outstanding type and production with a top record at 3-2 365 d of 26,518 m 1079 f, a cow index of + 1488 m -.03% +49f +slBs. She is sired by Cal-Clark Board Chairman. A young Holstein bull bred by William Terhune, Andover, N. J. 9H871 Bi-Jo Blendell HANNON 1885018 is also located at Sire Power headquarters. Bi-Jo Glendell HANNON 1885018 is sired by Glendell Arlinda Chief a genetically superior bull with +2007m -.07% +6lf+s24l. His dam is Bi-Jo Elevation Heather, EX(93) 3E. She was specially selected because of her outstanding type and production with a top record at 5-7 365 d of 24,851 m 1195 f, a cow index of +99lm +.19% +6sf +sl72. She is sired by Round Oak Rag Apple Elevation. NOW higher wheat, season are expected to more than double, from 330 million to nearly 780 million bushels. The result will be heavy downward pressure on the 1983/4 average farm price. •Feed Grains - Ending free stocks are expected to rise from 16 mmt to 21 mmt. Corn prices are expected to continue to decline and go below the |2,65 loan at the farm by late fall. •Soybeans - If soybean yields in 1983 are the same as in 1982, stocks at the beginning of 1983/4 should be moderate, and ending stocks will likely decline unless the summer weather is unusually favorable. Beans are expected to be the trading market during the growing season, rising, on reports of ad verse weather and declining on forecasts of better yields. •Rice - World supplies are relatively tight; consumption is expected to exceed production, and ending stocks will likely be down from last year. •union - Cotton will likely trade within four pricing tiers; San We Have Poles In MyerstOWn, PA 17067 Stock 25', 30,35- *45- Rhone: 717-866-7544 rs| Sollenberger Silos Corp. feed grain ending stocks 'i Joaquin Acala will trade at sub stantial premiums to New York Futures while “white tenderable cotton,” which is likely to mirror the futures market, could move upward in response to increasing export demand. Qualities that are not tenderable against futures contracts, but are eligible for CCC loans, should trade at prices close to the CCC loan. Unsold PIK cot ton, probably of poor quality, will not be eligible for CCC loans. Thus, while 1983/4 ending stocks likely will decline, relatively large free stocks will hold average farm prices within $.05 of the $.55 per pound CCC loan. The Merrill Lynch report analyzes each market in-depth, including current yield, price predictions and variables that could further affect these martlets, such as weather, legislative or administrative policies and foreign grain purchases. The 1983 PIK program is the 320 King St. Sollenbereer and Laidte - The two best names in Bottom unloading silos team up to give you the best structure and unloader for your money. • Solid 6” thick high strength concrete walls, over twice the thickness of some other concrete structures. • 60,000 P.S.I. Steel reinforcing • Over 75 years experience • White color reflects 3 times better than blue...much less heat damage' •Leasing available A Nitterhouse Company Box N Chambersburg, Pa. 17201 [7l7] 264-9588 A Producer of Quality Concrete Products Since 7923 most massive land diversion program in the history of the United States, offering farmers payment for acreage reduction with warehouse receipts for sur plus agricultural commodities, rather than cash. The program was initiated with the intent of depleting excessive surplus stocks and reducing the decline in farm income. In response to the very at tractive payment rates offered by the PIK program, fanners have agreed to idle nearly 83 million acres ordinarily planted to wheat, feed grains, cotton and rive. This is the largest amount in history, nearly one-third greater than the previous peak of 63 million acres idled in the early 19705. This report is available, free of charge, to the general public by calling toll-free 1-800-MERRILL or writing to Merrill Lynch Futures inc., 2 Broadway, New York, N.Y. 10004. $ $ PAYING CASH $ $ Silver Dollars Paying $13.50 EF, Sell At $14.50 Silver Coin Pay $B.OO-$9.00, Sell $lO.OO Paying cash for all guns, gold rings, old clocks, old furniture, picture frames, watches, cars, trucks, farm tractors and equipment. Call or bring into; GOLD & SILVER EXCHANGE Rt 61 and Rt. 22 Hamburg, PA next door to State Police Barricks 215-562-5557 LakJig 98 and 198 for Forage Laidig 43 and 143 for Grain
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