i26—Lancaster Farming, Saturday, July 21,1984
a:
Look into Futures
By Peter D. Forbes
THOMSON MCKINNON SECURITIES INC.
The major factors in the market
this week are weather and exports.
The continued good weather is a
bearish influence on the market
but the prospects of strong grain
exports both this summer and into
the new crop are bolstering pieces
at current levels.
Temperatures are expected to be
below normal while rainfall will be
near normal over a large portion of
the U.S. combelt during the six to
ten day period from July 25 to July
29. According to global weather
services, next week will be the
main pollination period for a large
portion of the U.S. com crop. Near
to below normal rainfall is ex
pected in the spring wheat area of
the upper midwest, while tem
peratures are above normal in the
northern areas of the wheat belt.
The extended 30 day forecast for
the majority of grain growing
areas in the country continues to
be below normal temperatures and
above normal precipitation.
Despite early fears, the new crop is
proceeding better than expected.
Ironically, this was the exact same
situation that proceeded the last
late planted crop in 1982 when ideal
weather conditions throughout the
growing season produced a
national average of 114 bu. per
acre and a B.o+ billion bushel crop.
However, with the late planting
one should expect to hear concerns
about an early frost affecting
midwestem yields. Once we get
through the critical pollination
period, we should start to hear
more concern about fall wheat
conditions.
In the export area, the trade is
beginning to wake up to the
possibility of major export activity
in the fall. It has been several
years since the Russians made the
kind of purchases that moved
American markets in a dramatic
way. Current export activity in
dicates that the Russians might be
preparing themselves for large
purchases. . .
Since the Russians have limited
port capacity and no need for near
term com, their recent purchases
of July com indicate that they are
trying to spread the entire year’s
purchases over many months to
avoid a glut in their ports down the
road. American analysts are
constantly attempting to ascertain
what level of crop production can
be expected from the USSR and
thereby project their level of
unports. However, with the recent
activity of the Russians in the
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grain market, an astute trader
must accept that the Russians
know their gram needs better than
our weather forecasters.
The Chinese are also positioning
themselves and a major factor in
the market. Recent discussions
with high level U.S. officials
confirm that the Chinese will live
up to their long- term grain
agreement. With the Canadian
weather crop in serious trouble,
the U.S. should be the major
supplier for the Chinese purchases.
All in all wheat and com exports
could surprise us all.
The big news in livestock this
week was the USDA Cattle on Feed
Report. The report indicated that
cattle on feed are currently at 96%
of last year. This will be con
sidered slightly bearish for the
nearby months since the trade was
expecting a much lower number.
Placements were at 95% and
marketings were at 102%. Market
analysts indicate that the low
placement number should be very
bullish for the deferred contracts.
The lower than expected
marketing figure and steers
weighing 900 to 1100 lbs. at 105% of
last year should be a pressuring
influence for August cattle since
there are plenty of cattle to hit the
market in the near term. Also
seasonal red meat demand
problems will continue to pressure
these cash markets. If new crop
grain prices break through current
support levels, one could expect
feeder cattle to rally and live cattle
for next year’s delivery to show
more weakness.
Ideas about price movement in
hogs have been very mixed this
week. Cash prices for hogs seem to
‘‘have topped out in the 56.00 region
for midwest delivery. But many
traders are looking for a summer
rally to approach price levels
attained before the last hogs & pigs
report. Pork bellies seem to have
started their rebound from the
recent over sold condition and on
Thursday made a dramatic move
to the up side gapping up in the
open moments of trade and
proceeding up the 2.00 limit. With
pork loin prices remaining strong
and the pork belly market
regaining strength one might
expect the hogs to follow in step.
But the livestock markets have
confounded many traders already
this summer and too difficult to
make solid predictions about the
movement of prices.
LIVESTOCK
Free appraisal services offered
HARRISBURG —lt is important From now until Oct. 1, 1984, the
that area fanners prove acreage Federal Crop Insurance Cor
and production of small grains and poration, (FCIC), is offering free
corn in 1984, 1985 and 1986 to appraisal service to producers who
prepare for insurance in future will need appraised yields because
years. of silage use or because grain will
rfIBHMOTOTWVI
EVERGREEN
TRACTOR CO., INC.
MRSKOI
f " " SUPPORT THE LEBANON COUNTY 4-H FAIR AUGUST sth - 11th
■ Clip and present this coupon when ordering parts at the counter and for every
■ $50.00 worth of JOHN DEERE and NEW HOLLAND parts purchases, we will
I give you your choice of (1) FREE HAM OR CHICKEN BARBECUE TICKET for
I the FAIR
OFFER GOOD UNTIL JULY 27, 1984
J (Coupon must accompany parts order for free tickets.) This coupon expires
| and is not valid after July 27th.
During hay season, you can't afford to lose time replac
ing worn parts. Check your machines now. Then see
your Parts Pro for replacement parts. You'll like our new
low prices. Stock up on bearings, belts, pickup teeth,
knives and sections razor sharp and evenly ground.
We have all the parts you may need. Stop in soon.
We have heavy duty undorsorratod sections to fit NEW
HOtIANP, NEW IDEA, HESSTON, and IH. Price - 60 c
TRACTORS:
JD 630 Tractor w/3 pt
JD 2630 Diesel Tractor. Hi-Lo 540-1000
JD 2630, Dual Remote
JD 2440, New Style
IH 400 Diesel. PS, TA
Farmall M w/PS and Live Hyd.
(1) White 2-105 w/Roll Guard
(1) IH 460 Gas N.F. TA, Power Steering
(l)FarmallH ...*950
IH 300 Row Crop WF T.A. fast hitch *2,350
Ford 8000 Diesel *6,950
IH 240 w/Fast Hitch and 2B Plow *2,150
White 2-60 4WD w/Loader, 800 Hrs.. . . *13,500
AC 5050 Diesel Tractor, Less Than 500 Hours, Like
New *8,750
COMBINES & PICKERS:
(i) jd662OLL Combine Boo hrs. Price on Request
JD 3300 Dsl. w/cab, 343 C.H. &
Rotary Screen Price on Request
(1) IH 203 Combine, Gas w/10' Platform,
P.U. Reel, 2 Row Cornhead, Cab
(1) New Idea #325 Two Row Narrow
Picker w/Sheller, Heavy PTO
(1) JD 444 Corn head....
(1) JD 443 Corn head, new
style *6,750
HARVESTERS & FORAGE EQUIPMENT:
NHIBBO Self Propelled Harvester,
3 Row Pickup, Osl. Hydro, 600 hrs.
(1) John Deere 34 w/One Row Row Crop
(1) Grove Forage Wagon w/Roof £ Gear
(1) John Deere Three Row Row Crop
Attachment, New Belts *3,850
NH 770 Harvester with Pick Up 1 Row RC New
Knives
TILLAGE:
(1) John Deere 12' RW
(1) Athens 10' Disc, heavy duty
Howard 100" 1000 PTO Rotovator
(1) JD 410 Round Baler (Demonstrator)
Less JD Rebate $3OO
(1) JD 1610 Pull Type 11’ Chisel Plow, New Tires, Cash Price
(2) JD 315 12' Disk '/<" Blades, Dual HLxls Tires, Cash Price
(1) JD 7000 6 row 30" Planter, Monitor, Dry Fertilizer, Insecticide and Markers, Cash Price
(1) JD 2700 5-18" Plow with Cover Boards and Coulters, Cash Price 1
(2) JD 415 Rotary Hoe, Cash Price
RECEIVED
I (2) NEW ARTSWAY 16’ >
I FORAGE WAGONS WITH
J ROOFS
| CALL FOR SPECIAL PRICE
COMING IN:
Better Bilt 1500 Gallon Tank
Spreader with Ejectors
JO 4230 Quad Range Tractor
w/Sound Card
MF Hay Rake
13’ Rigid Grain Head
JO 45 Loader for 2 Cyl. Tractors
HAY MACHINES:
NH 472 Haybine, like new, cut 50 acres.
NH 469 Haybine (Super Sharp) .
JD 480 Mower Conditions
Case 550 Mower Conditioner.
JDI4T Baler
JD 500 Round Baler
(1) IH 46T w/Thrower
*2,650
*9,750
*9,750
*12,250
*2,250
*1,500
*15,900
*2,350
NH 275 Baler w/Thrower, Hydraulic Aim
Nl #402 B‘/j' Hay Rake
JD 640 Rake with Front WtwSjjjS
GRAIN DRYERS:
(2) New Farm Fans ABB Auto-Batch Dryers. MUST
MOVE CALL FOR PRICE... (Dealer Inquiries
Welcome)
(1) Used 350 BU. Myer Morton
PTO Batch Dryer .
PLANTERS:
JD 7000 8 R 30" planter, liq P.O.P. monitor, no-till
1H4004R Air Planter
JO 7000 6 row w/no-til HD Coulters
JD494A Planter
MISCELLANEOUS:
JD 6 Row 30" Rear Cultivator
6 Row Hyd. Fold Cultivator
IH 2001 Loader ... .
JO #39 3 pt. Mower ...
14.9x26 T rail duals
20.8x34 direct axle, less rubber
NH 679 tandem axle spreader,
hyd. endgate
‘Year round cab for JD 3020 or 4020
JD 37 Hydraulic bucket ind. valve
18.4x38 snap on duals
18.4x34 snap on duals .. ...
16.9x34 snap on duals.. . QjJSS
875 jd 46A Hydraulic Loader hyd. bucket to fit
*1,650 3010 thru 4020... .
*3,450 (2) Ml Tandem Axle Spreaders
NEW SPECIALS
*3,950
*4,350
*3,450
*23,500
. *1,550
*1,850
*3,850
30 Evergreen Rd., Lebanon, PA., (717) 272-4641
be comingled from several farms.
FCIC will also measure bins of
grain to determine production
when weights are not available.
If those interested in this free
service or those with questions
should call the FCIC office. The
Dauphin County ASCS office, 8
a.m. to 4:30 n.m.. 652-84 m
A n
. *7,400
$7,100 Cash Price
.. *3,500
*6,200 Each
. *10,700
*8,600
*2,295 Each
EVERGREEN
TRACTOR
CO. INC.
irgreen Road
*£.500
’3,650
*1,450
*1,450
. *750
*4,850
*1,050
*2,950
*1,250
*1,350
*3,450
*8,750
*B5O
*1,050
*1,500
*950
*1,050
*4,500
*1,050
*1,150
*650
..*750
*450
*B5O