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The World Of Commodities A Weekly Fundamental Report ..Grains: Outlook For Soybean Exports Remains Favorable. Census report indicating soybean oil stocks sharply above expectations contributed to weakness. In Brazilian developments, the suspension of new export registrations for soybean products continues. Currently, ceiling prices, on the domestic market are below export prices which has made crushers reluctant to aggressively supply domestic needs. In the weeks ahead, we expect exports to recover and maintain a pace nearly equal to last year's levels. The unshipped export business "on the books" is nearly equal to last year's levels, supporting the potential for continued strong export clearances. Please note that the heaviest competition from the Southern Hemisphere may not begin until mid - May. A continuation of the tight nearby supply situation in Brazil could support a high level of U.S. meal exports in the near term. The potential strong export demand in the near term, combined with the record large domestic demand base, should limit downside potential in the^oybean meal market. With both domestic and export demand for meal expected to remain strong, weekly crush should remain at high levels. Further downside potential in the soybean complex in the near term should be limited from a fundamental supply-usage standpoint. Corn Market May Work Lower. Corn futures prices consolidated in mid-week trading. A study of supply and usage figures suggests that the major forces in the corn market over the next few months could be 1979 production below 1978-79 usage. Weather has been wet in the Corn Belt states this spring so that drought is not likely to be a factor for the early summer months. This year could be associated historically with those years in which prices decline , into the summer. On April 16th the USDA will issue a report on planting intentions as of April 1. The January intentions report indicated farmers planned to plant 80.6 million acres of corn in 1979 compared to 79.7 a year ago. Since that time their has been no change in government programs to encourage more (or less) planting. The Chicago cash soybean-corn ratio has changed from 2.97 in early January to 3.06 in late March which could result in some reduction in corn acreage, but no major reduction is like.y. We expect the intentions report to indicate corn acreage between 79.5 - 80.5 million acres. We believe the corn market could be under pressure in the coming months unless crop trouble develops. Livestock: Increased By-Product Values Helping To Support Higher Live Cattle Prices. The trucking strike is now a reality, but to date does not appear to have had a discernible impact on the movement of beef. It is our belief, that rising beef prices will likely be the major force behind the anticipated slowdown in consumer demand for beef. The dominant force behind higher cattle prices is unquestionably the significant reduction in slaughter supplies. However, if hide and offal values remain high, prices would average even higher than current supply-demand relationship would suggest. We continue to believe prices will turn higher again into the late spring - summer period. Hog Futures Rally On Strength in Cattle. In the March 1 Hogs and Pigs Report, farmers indicated they plan to increase March- May farrowing 24 percent relative to the previous year. The extent to which actual farrowings will reflect intentions has been a major topic of debate among hog market participants. Based on a 20 percent increase in March-May farrowings (September-November slaughter), economic value studies suggest October hog futures prices appear to have significantly more downside potential than upside potential from current levels. JohnS Norkett Regional Manager-Commercial Hedging VALUE FORUM • • • • • • realizing the worth of your possessions^ Appraise Your Properties With Care By Dexter D. MacBride, ASA Executive Vice President American Society of Appraisers Americans today have more money to spend and there is a dazzling array of goods on which to spend it. The age of technology has given us every conceivable electrical appli­ ance. Americans are travelling more, bringing home art, arti­ facts and collectibles from all parts of the world. With these acquisitions, the per­ sonal property contents of homes and apartments are more valuable than ever be­ fore. Therefore, more people are calling upon the services of an appraiser to evaluate their possessions and special kinds of properties. We know that a person's house is one of the things upon which he or she places the highest material value and, at some time, it will be appraised (mortgage, improve­ ment loan, - sale). Do you realize the contents of your house or apartment are likewise of considerable value? Oftentimes people have received inadequate compen­ sation following a theft, fire, flood, etc., because of the lack of a certified appraisal to support their insurance claims. In many instances mis­ understandings and lawsuits can be eliminated by secur­ ing a professionally docu­ mented appraisal report. Therefore, when you select an appraiser choose a person who has been tested and certified in his (or her) field of appraising. A nationwide certification program of testing and monitoring is con­ ducted by the multi-discipli­ nary American Society of Appraisers to designate appraisal competency. (Remember, no state licenses, tests or supervises Personal Property appraisers.) The Personal Property appraisal classification includes: residential contents, antiques, gems/jewelry, fine arts, collectibles, etc. When selecting an ap­ praiser, ask the following questions: I. What is your appraisal educational back­ ground? 2. What specific ' experience do you have with the kind of property I wish to Have appraised? 3. Are you a member of a pro­ fessional appraisal society? 4. Do you hold a special designation? 5. Is that designation based on success­ fully completing written exams? 6. How long ago did you take the exam? 7. If the exam was taken more than four years ago, what continuing education have you undertaken to keep cur­ rent in the field? 8. May 1 have a copy of your Appraisal Qualifications statement? The appraiser you select should possess experience, skill and integrity. The professional appraiser will be pleased to answer your questions and will place his or her qualifications be­ fore you. In. reviewing an appraiser's credentials, remember that a "certification in appraising" issued by an appraisal society is one of the strong indicators of ability and adherence to a strict code of ethics. For a free pamphlet giving Area Townships Subject For Discussion The Townships of Richmond, Burton and Greenwood will be the subject of discussion by the Zoning commission of McHenry county April 27, at 1 p.m. in Room 112 of the cour­ thouse, The commission will review and make its recom­ mendations for the individual requested map amendments of the proposed zoning ordinance. The public is invited to ob­ serve, but ho further testimony will be taken at that time. * * * * Read a good book reg­ ularly, even at the risk of straining your mind. detailed information on appraising write: American Society of Appraisers, Dulles Int'l. Airport, P.O. Box 17265, Dept. A, Washington, DC 20041. SECTION 2 - PAGE 3 - PLAINDEALER - FRIDAY, APRIL 13,1979 ^SENIOR CITIZEN'S CORNER^ yrj HEIPFUL IDEAS FOR SUCCESSFUL RETIREMENT Keeping Up Did you know that a female child born today can expect to live to age 76 and a male to 68° However, increased longevity is more a matter of infant survival ratels&ihan of anything>else. The fact is, we don't live much longer -- once we reach maturity -- than our ancestors did. On the average, a woman who becomes widowed at age 65 will live another 16 years. As a method of reflecting dif­ fering survival rates, it was found in 1976 that 11 per cent of whites were 65 or older (that figure is now closer to 13 per cent), while only eight per cent of blacks and four per cent of Spanish-Americans were that old. After age 75, blacks have a higher survival rate than whites. Across the wide United States, only five per cent of this coun­ try's older citizens live in institu­ tions Of older men, 83 per cent reside in family settings, while 58 per cent of older women do the same. Most of the others live alone -- a few with non-relatives ATTENTION! tjPAow In \ 21 N. Ayer Harvard 1 APRIL 13 - 19 Alex deRenzy's "Pretty Peaches" Introducing Desiree Costeau as "Peaches" rrii by For men and women over 18 years ot age ENNOX AIR CONDITIONING High Efficiency QUIET - DEPENDABLE COPPER COILS - HIGH E.E.R.'S LOW OPERATING COSTS CALL FOR A FREE ESTIMATE FINANCING AVAILABLE fanlTV&en*** V u c a t i n c A N n rnni i n c SINCE 1931 3511 S. WRIGHT RD. V MCHENRY, IL • •• ~~ HEATING AND COOLING A Certified I IN MOM Deoler (815)459-2300 (312)526-6286 Polling Day i g i Co-starring 10 exciting new faces. 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