[Farmmarketnews] Wednesday Ontario Commodity Report and Ahmed Chilmeran Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Dec 28 15:55:38 EST 2011
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, December 28
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.0234 up 0.0026
Chicago corn closed slightly to moderately higher.
MAR12 HI 6.46 1/4 DEC12 HI 5.87 1/4
LOW 6.30 1/4 LOW 5.74 1/2
CLOSE6.42 1/2 Up 9 1/4 CLOSE 5.83 1/2 Up 6 1/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +MAR12+MAR12+MAY12
CK Low -0.30 6.13 241.13 -0.50 5.34 210.03
CK High -0.22 6.21 244.28 -0.50 5.34 210.03
CK Avg -0.29 -0.45 6.14 241.66 -0.50 -0.66 5.34 210.03
Essex Cty -0.25 6.18 243.10 -0.50 5.34 210.03
Mdsx Low -0.30 6.13 241.13 -0.50 5.34 210.03
Mdsx High -0.30 6.13 241.13 -0.50 5.34 210.03
Mdsx Avg -0.30 -0.46 6.13 241.13 -0.50 -0.66 5.34 210.03
Hensall -0.28 6.15 242.11 -0.48 5.36 211.01
Bruce -0.30 6.13 241.13 -0.50 5.34 210.03
Putnam -0.30 6.13 241.13 -0.50 5.34 210.03
Burford -0.30 6.13 241.13 -0.50 5.34 210.03
Port Perry -0.35 6.08 239.16 -0.55 5.29 208.06
Norfolk -0.22 6.21 244.28 -0.50 5.34 210.03
Palmerston -0.25 6.18 243.10 -0.45 5.39 212.00
Varna -0.25 6.18 243.10 -0.45 5.39 212.00
Trenton -0.20 6.23 245.07 -0.50 5.34 210.03
Winchester -0.25 6.18 243.10 -0.45 5.39 212.00
North Gower -0.70 5.73 225.38 -0.53 5.31 208.85
Huron FOB -0.05 6.38 250.97 -0.45 5.39 212.00
Kent FOB -0.22 6.21 244.28 -0.50 5.34 210.03
Lamb FOB -0.22 6.21 244.28 -0.50 5.34 210.03
Mdsx FOB -0.30 -0.25 -0.20 -0.20 6.13 241.13 -0.50 5.34 210.03
FOB SW Que -0.10 6.33 249.00 -0.10 5.74 225.78
Track 0.18 6.60 259.83N/A
PROCESSORS
Chat-Eth N/A N/A N/A N/A -0.50 5.34 210.03
Jhnstwn-Eth 0.00 0.40 0.40 0.40 6.43 252.94 0.10 5.94 233.65
Aylmer-Eth N/A -0.05 0.00 0.00 N/A
Sarn-Eth 0.00 0.05 0.10 0.05 6.43 252.94N/A
Cllngwd-Eth 0.20N/A N/A N/A 6.63 260.81-0.30* 5.54 217.90
London-Cas 0.00 0.10 0.10 0.10 6.43 252.94 -0.30 5.54 217.90
Pt.Colb-Cas 0.00 0.25 0.30 0.25 6.43 252.94 -0.25 5.59 219.87
Cardnl-Cas 0.00 0.30 0.30 0.25 6.43 252.94 -0.25 5.59 219.87
W O Feed 0.23 0.21 6.66 262.00
US Rep 0.65 0.63 7.08 278.53
Toledo El. -0.06 6.36 250.52 -0.44 5.39 212.33
TRANSFER
Sarnia N/A N/A
Pt. Stanley N/A N/A
Hamilton 0.05 6.48255 -0.25 5.59219 7/8
MID SD CRN -0.26 6.16 1/2
HI SD CRN -0.22 6.20 1/2
*Wet Bid
Bank of Canada Noon exchange rate was 1.0234 up 0.0026
Chicago soybeans closed slightly lower.
MAR12 HI 12.18 3/4 NOV12 HI 12.14
LOW 11.93 LOW 11.92
CLOSE12.08 Down 1 1/2 CLOSE 12.05 Down 1
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +MAR1+MAR1+MAY12
CK Low -0.70 11.38 418.14-0.77 11.28 414.47
CK High -0.57 11.51 422.92-0.65 11.40 418.88
CK Average -0.66 -0.9611.42 419.74-0.73-1.0611.32 415.88
Essex Cty -0.37 11.71 430.27-0.53 11.52 423.29
Mdsx Low -0.70 11.38 418.14-0.75 11.30 415.20
Mdsx High -0.58 11.50 422.55-0.68 11.37 417.78
Mdsx Average -0.64 -0.9511.44 420.35-0.72-1.0411.34 416.49
Hensall -0.70 11.38 418.14-0.75 11.30 415.20
Bruce -0.70 11.38 418.14-0.75 11.30 415.20
Putnam -0.79 11.29 414.84-0.75 11.30 415.20
Burford -0.58 11.50 422.55-0.68 11.37 417.78
Port Perry -0.61 11.47 421.45-0.71 11.34 416.67
Norfolk -0.52 11.56 424.76-0.71 11.34 416.67
Palmerston -0.59 11.49 422.19-0.70 11.35 417.04
Varna -0.59 11.49 422.19-0.70 11.35 417.04
Trenton -0.79 11.29 414.84-0.75 11.30 415.20
Winchester -0.67 11.41 419.25-0.57 11.48 421.82
North Gower -0.91 11.17 410.43-1.03 11.02 404.92
Huron FOB -0.55 11.53 423.65-0.70 11.35 417.04
Kent FOB -0.57 11.51 422.92-0.77 11.28 414.47
Lambton FOB -0.57 11.51 422.92-0.77 11.28 414.47
Middlesex FOB-0.42-0.42-0.42 N/A 11.66 428.43-0.52 11.53 423.65
PROCESSORS
Hamilton 0.00 0.00 -0.10-0.10 12.08 443.86-0.20 11.85 435.41
Windsor -0.14-0.14-0.09-0.08 11.94 438.72-0.31 11.74 431.37
Winchester -0.62 11.46 421.08-0.52 11.53 423.65
TRANSFER
Hamilton -0.05 N/A N/A N/A 12.03 442.03-0.15 11.90 437.25
Pt. Stanley N/A N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC -0.19 11.89 436.880.15 12.20 448.27
Toledo El. -0.28 11.80 433.69-0.60 11.45 420.87
Bank of Canada Noon exchange rate was 1.0234 up 0.0026
Chicago wheat closed slightly higher.
MAR12 HI 6.56 JUL12 HI 6.86 1/2
LOW 6.41 1/4 LOW 6.73 3/4
CLOSE 6.51 1/4 Up 6 1/2 CLOSE 6.82 3/4 Up 6 3/4
Minni wheat closed narrowly mixed.
MAR12 HI 8.71 1/4 SEP12 HI 8.00
LOW 8.59 LOW 7.92 3/4
CLOSE 8.63 Up 1/2 CLOSE 7.94 Down 3/4
GFO Cash Wheat Prices - DEL Terminal
Current Crop 11 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.04 0.83 0.22 -0.19
CAD $/bu 6.47 7.34 6.73 8.44
CAD $/tonne 237.82 269.84 247.24 310.06
Direct MarkHarvest 2011 Harvest 2012
DELIVERED BASIS DELIVERED BASIS
Location SWW(C) HRW(C) SRW(C) HRS(M) SWW(C) HRW(C) SRW(C) HRS(M)
ELEVATORS
Brgssvll N/A 0.55 0.00 N/A N/A 0.60 -0.20 N/A
London -0.14 0.58 -0.04 N/A N/A 0.53 -0.24 N/A
Hensall -0.10 N/A 0.00 N/A 0.00 N/A -0.20 N/A
Trenton N/A N/A N/A N/A N/A N/A -0.45 N/A
Winchester N/A N/A N/A N/A N/A N/A N/A -0.10
Essex N/A N/A -0.13 N/A N/A N/A -0.26 N/A
Norwich -0.10 N/A 0.00 N/A 0.00 N/A -0.20 N/A
Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A
Kent Bridge -0.10 N/A 0.00 N/A 0.00 N/A -0.20 N/A
Chatham N/A 0.50 -0.02 N/A N/A 0.64 -0.27 N/A
Brigden N/A 0.50 -0.02 N/A N/A 0.64 -0.27 N/A
Palmerston N/A 0.76 -0.06 -0.26 N/A 0.53 -0.30 -0.16
Varna 0.00 0.70 0.00 N/A 0.20 0.80 -0.25 N/A
Mitchell -0.10 0.60 0.00 N/A 0.00 0.70 -0.20 N/A
Thornton N/A N/A N/A -0.30 N/A N/A N/A N/A
North Gower N/A N/A N/A N/A N/A N/A N/A 0.07
TERMINAL
Sarnia N/A N/A N/A N/A N/A N/A N/A N/A
Hamilton N/A N/A 0.20 N/A N/A N/A -0.40 N/A
Pt. Stanley N/A N/A N/A N/A N/A N/A N/A N/A
PROCESSORS
Toledo FM N/A 0.88 0.47N/A 0.29 1.21 0.49N/A
Toledo El. 6.43US 6.60CA 6.80US 6.98CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.08 0.90 -0.12 0.27
CAD $/bu 6.91 7.73 6.70 8.21
CAD $/tonne 253.90 284.09 246.35 301.54
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
Bayport Wheat 280.00 - 295.00
Bayport Oats 310.00
Bayport Barley 280.00
FOB Hm Soymeal 372.70 - 379.31
DDG's FOB Srn, Wndr, Aylm 170.00 - 178.00
Commentary
The ECB’s balance sheet hit a record high of €2.73 trillion after it lent
financial institutions €489 billion in low interest loans last week in an
attempt to keep credit flowing to the economy during the debt crisis. Italy sold
€9 billion of six-month Treasury bills with lower borrowing yields from the
previous auction in response to the government’s earlier measures aimed at
trimming the euro region’s second biggest debt. The loonie strengthened to the
highest level in almost three weeks with the rise in the stock market and crude
oil. The latter captured investor’s attention with the prospect of sanctioning
Iran's oil exports. The standoff heightened Tuesday after Iran threatened to
close the Strait of Hormuz if Western nations press ahead with additional
sanctions on the country's oil exports.
CORN
Corn rose in Chicago to near a six week high, as Argentina’s dry weather
continues to threaten the crop as it enters pollination stage, making stalks
vulnerable to punishing weather. According to the USDA, Argentina is the second
largest corn exporter and is expected to supply a fifth of the world’s corn
exports. A shortage in Argentinian supplies down the pipe may have a spillover
effect on commodity markets. There’s also lingering risk of the ‘la Nina’
weather phenomena impacting bordering Brazil with its corn supplies.
SOYBEANS
Soybean lost earlier gains in Chicago; however South American dry weather
remains a stressing factor driving prices up ahead of other externalities such
as the Eurozone debt crisis. Traders are concerned that lower exports from South
America could reduce world food inventories as strong demand from livestock
producers and ethanol makers is already straining global reserves. A shortage in
South American exports may raise an opportunity for North American soybean.
WHEAT
Wheat rose in Chicago heading for the longest rally in four years, as dry
weather risks depleting soil moisture and erodes prospects for dormant winter
crops in the US Great Planes. European wheat also rose as traders rush for end
of year short coverings. In retrospect, wheat dropped 19% this year after
Russia, Australia and Canada boosted production. Harvest contract prices for
December 28, 2011 at close, are as follows:
SWW at $237.50 per tonne ($6.46/bu.), HRW at $269.54 per tonne ($7.34/bu.),
HRS at $309.20 per tonne ($8.42 /bu.), and SRW at $246.93 per tonne
($6.72/bu.).
John Jordan
Editor, AgriLink and Farm Market News
University of Guelph, Ridgetown Campus
Tel. 519-674-1500 x 63577
Fax. 519-674-1530
E-mail: jjordan at ridgetownc.uoguelph.ca
AgriLink website : www.ridgetownc.com/agrilink
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