[Farmmarketnews] Wednesday Ontario Commodity Report & Todd Austin Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Jul 13 15:53:52 EDT 2011
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, July 13
(All Bases in CAD)
Bank of Canada Noon exchange rate was 0.9582 down 0.0086
Chicago corn closed sharply higher.
SEP11 HI 6.94 DEC11 HI 6.88
LOW 6.61 1/2 LOW 6.53
CLOSE6.86 3/4 Up 22 3/4 CLOSE 6.79 3/4 Up 21 3/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +SEP11+DEC11+DEC11
CK Low 0.60 7.47 293.98 -0.35 6.45 253.83
CK High 0.65 7.52 295.95 -0.35 6.45 253.83
CK Avg 0.64 0.91 7.51 295.62 -0.35 -0.11 6.45 253.83
Essex Cty 0.60 7.47 293.98 -0.35 6.45 253.83
Mdsx Low 0.60 7.47 293.98 -0.35 6.45 253.83
Mdsx High 0.65 7.52 295.95 -0.35 6.45 253.83
Mdsx Avg 0.63 0.90 7.50 295.29 -0.35 -0.11 6.45 253.83
Hensall 0.65 7.52 295.95 -0.35 6.45 253.83
Bruce 0.65 7.52 295.95 -0.35 6.45 253.83
Putnam 0.65 7.52 295.95 -0.35 6.45 253.83
Princeton 0.60 7.47 293.98 -0.35 6.45 253.83
Durham 0.65 7.52 295.95 -0.40 6.40 251.86
Norfolk 0.65 7.52 295.95 -0.35 6.45 253.83
Palmerston 0.65 7.52 295.95 -0.40 6.40 251.86
Varna 0.65 7.52 295.95 -0.35 6.45 253.83
Trenton 0.85 7.72 303.82 -0.40 6.40 251.86
Winchester 0.85 7.72 303.82 -0.35 6.45 253.83
North Gower 0.60 7.47 293.98 -0.65 6.15 242.02
Huron FOB 0.75 7.62 299.89 -0.35 6.45 253.83
Kent FOB 0.65 7.52 295.95 -0.35 6.45 253.83
Lamb FOB 0.65 7.52 295.95 -0.35 6.45 253.83
Mdsx FOB 0.80 0.85 1.00N/A 7.67 301.86 -0.45 6.35 249.89
FOB SW Que 0.49 7.36 289.65 -0.40 6.40 251.86
Track 1.00 7.87 309.73N/A
PROCESSORS
Chat-Eth N/A 0.40 0.65 1.10 N/A
Jhnstwn-Eth N/A N/A 1.25 1.30 -0.35 6.45 253.83
Aylmer-Eth 0.70 0.75 1.05 1.10 7.57 297.92 -0.45 6.35 249.89
Sarn-Eth N/A 0.85 1.10 1.25 -0.30 6.50 255.80
Cllngwd-Eth N/A N/A N/A N/A -0.55* 6.25 245.95
London-Cas N/A 0.55 1.10 1.20 -0.75 6.05 238.08
Pt.Colb-Cas N/A 0.70 1.25 1.30 -0.70 6.10 240.05
Cardnl-Cas N/A 0.65 1.20 1.30 -0.85 5.95 234.14
W O Feed 1.08 1.12 7.95 312.88
US Rep 1.20 1.24 8.07 317.60
Toledo El. 0.60 7.46 293.83 -0.39 6.41 252.41
TRANSFER
Sarnia 0.60 7.47 293.98 -0.35 6.45253 5/6
Pt. Stanley 0.49 7.36 289.65 -0.46 6.34249 1/2
Hamilton 0.63 7.50295 1/6 -0.32 6.48255
MID SD CRN -0.35 6.44 3/4
HI SD CRN -0.35 6.44 3/4
*Wet Bid
Bank of Canada Noon exchange rate was 0.9582 down 0.0086
Chicago soybeans closed moderately higher.
NOV11 HI 13.87 NOV11 HI 13.87
LOW 13.55 LOW 13.55
CLOSE13.79 3/4 Up 21 1/2 CLOSE 13.79 3/4 Up 21 1/2
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +NOV1+NOV1+NOV11
CK Low -0.95 12.85 472.06-1.41 12.39 455.16
CK High -0.90 12.90 473.90-1.25 12.55 461.04
CK Average -0.91 -0.3812.88 473.41-1.35-0.8712.45 457.31
Essex Cty -0.87 12.93 475.00-1.35 12.45 457.37
Mdsx Low -0.97 12.83 471.33-1.39 12.41 455.90
Mdsx High -0.90 12.90 473.90-1.35 12.45 457.37
Mdsx Average -0.93 -0.4012.87 472.80-1.36-0.8812.43 456.88
Hensall -0.90 12.90 473.90-1.35 12.45 457.37
Bruce -0.90 12.90 473.90-1.35 12.45 457.37
Putnam -0.90 12.90 473.90-1.35 12.45 457.37
Princeton -0.89 12.91 474.27-1.35 12.45 457.37
Durham -0.93 12.87 472.80-1.39 12.41 455.90
Norfolk -0.85 12.95 475.74-1.34 12.46 457.73
Palmerston -0.75 13.05 479.41-1.35 12.45 457.37
Varna -0.75 13.05 479.41-1.30 12.50 459.20
Trenton -1.20 12.60 462.88-1.28 12.52 459.94
Winchester -0.90 12.90 473.90-1.12 12.68 465.82
North Gower -1.15 12.65 464.72-1.40 12.40 455.53
Huron FOB -0.75 13.05 479.41-1.20 12.60 462.88
Kent FOB -0.90 12.90 473.90-1.39 12.41 455.90
Lambton FOB -0.90 12.90 473.90-1.39 12.41 455.90
Middlesex FOB-0.79-0.71 N/A N/A 13.01 477.94-1.10 12.70 466.55
PROCESSORS
Hamilton -0.39-0.53-0.65 N/A 13.41 492.64-0.94 12.86 472.43
Windsor -0.51-0.58 N/A N/A 13.29 488.23-1.00 12.80 470.23
Winchester -0.82 12.98 476.84-1.04 12.76 468.76
TRANSFER
Hamilton -0.50 N/A N/A N/A 13.30 488.60-0.75 13.05 479.41
Pt. Stanley -0.95 12.85 472.06-1.20 12.60 462.88
Sarnia -0.91 12.89 473.53-0.95 12.85 472.06
Owen Sound N/A N/A
Sorel QC -0.55 13.25 486.76-0.50 13.30 488.60
Toledo El. 0.12 13.91 511.21-0.42 13.38 491.72
Bank of Canada Noon exchange rate was 0.9582 down 0.0086
Chicago wheat closed sharply higher.
SEP11 HI 7.21 JUL12 HI 7.94 3/4
LOW 6.62 LOW 7.46 3/4
CLOSE 7.14 1/2 Up 42 1/2 CLOSE 7.94 3/4 Up 40 1/4
Minni wheat closed higher.
SEP11 HI 8.22 1/2 SEP12 HI 8.37 1/4
LOW 7.84 3/4 LOW 8.13 1/2
CLOSE 8.20 3/4 Up 27 3/4 CLOSE 8.37 1/4 Up 29 1/4
GFO Cash Wheat Prices - DEL Terminal
Current Crop 11 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.18 0.35 -0.71 -0.36
CAD $/bu 6.97 7.50 6.44 7.84
CAD $/tonne 255.97 275.40 236.54 288.21
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 0.10 -0.85 N/A N/A -0.55 -1.55 N/A
London -0.43 -0.04 -0.91 N/A N/A -0.84 -1.66 N/A
Hensall -0.25 N/A -0.85 N/A -0.70 N/A -1.55 N/A
Trenton N/A N/A -0.70 N/A N/A N/A -1.30 N/A
Winchester N/A N/A N/A -1.05 N/A N/A N/A N/A
Essex N/A N/A -0.93 N/A N/A N/A -1.52 N/A
Norwich -0.25 N/A -0.85 N/A -0.70 N/A -1.55 N/A
Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A
Kent Bridge -0.25 N/A -0.85 N/A -0.70 N/A -1.55 N/A
Chatham N/A 0.08 -0.84 N/A N/A -0.68 -1.53 N/A
Brigden N/A 0.08 -0.84 N/A N/A -0.68 -1.53 N/A
Palmerston N/A 0.09 -0.87 -0.23 N/A -0.75 -1.47 -0.60
Varna 0.10 0.10 -0.90 N/A -0.60 -0.60 -1.60 N/A
Mitchell -0.25 0.10 -0.70 N/A -0.70 -0.55 -1.55 N/A
Thornton N/A N/A N/A -0.53 N/A N/A N/A N/A
North Gower N/A N/A N/A -0.85 N/A N/A N/A N/A
TERMINAL
Sarnia -0.08 0.40 -0.51 N/A -0.74 -0.23 -1.23 N/A
Hamilton N/A N/A -0.60 N/A N/A N/A -1.00 N/A
Pt. Stanley N/A N/A -1.05 N/A N/A N/A -1.45 N/A
PROCESSORS
Toledo FM 0.01 0.69 0.01N/A N/A N/A N/A N/A
Toledo El. 7.07US 6.79CA N/A
GFO Contract Wheat Prices - DEL Terminal
Harvest 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.66 0.21 -1.15 -0.77
CAD $/bu 7.28 8.15 6.80 7.60
CAD $/tonne 267.66 299.58 249.93 279.19
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
Bayport Wheat 285.00 - 298.00
Bayport Oats 307.00
Bayport Barley 280.00
FOB Hm Soymeal 407.42 - 408.52
DDG's FOB Srn, Wndr, Aylm 210.00 - 225.00
Wednesday June 13, 2011
Commodity Period Price Weekly Movement
Corn CBOT Sept 6.86 ¾ ↑ 68 cents
Soybeans CBOT Aug 13.74 ¾ ↑ 52 ½ cents
Wheat CBOT Sept 7.14 ½ ↑ 87 ½ cents
Wheat Minn. Sept 8.20 ¾ ↓ 6 ¾ cents
Wheat Kansas Sept 7.62 ↑ 26 cents
Canadian $ Sept. 1.0406 ↑ 122 points
CORN
The USDA released new carryout numbers for corn; there was an increase of 150
million bushels from last month to a level of 880 million bushels. Considering
the increased acreage of corn reported at the end of June, there was an
anticipation of closer to a 1 billion bushel ending stock level for 2011/2012.
The USDA, however, increased demand, bringing the estimated carry-out to 870
billion bushels.
China will probably buy 5 million tonnes of corn this year, which is up from
about 2 million tons in 2010, according to the United Nations’ Food &
Agriculture Organization. Increasing Chinese demand for feed ingredient consumed
by hogs and chickens may offer support to Chicago prices.
SOYBEANS
The USDA reported higher carryout of soybean stocks this month versus last. A
decrease in demand, especially from China, was the reason for this increase.
This higher carry-out has been offset with lower production levels for this
year, due to an expected reduction in harvested area. Exports were also adjusted
downwards, reflecting lower U.S. supplies. U.S. ending stocks are projected at
175 million bushels, down 15 million from previous reports.
Global oilseed production for 2011/2012 is projected at 455.5 million tons,
down 1.4 million from last month. Global soybean production is projected at
261.5 million tons, down 1.3 million. This is due to lower production in the
United States.
WHEAT
U.S. winter wheat production is up 3 percent from last month, with harvested
acreage unchanged. Yields were up from 0.9 bushels to 46.2 bushels per acre.
U.S. Spring wheat production is forecast at 551 million bushels, down 11 percent
from last year. Of this, 504 million bushels are Hard Red Spring wheat.
Global wheat supplies are projected to be slightly higher, as higher beginning
stocks more than offset lower expected world production. Larger U.S. carry-in in
the United States and Russia accounts for the majority of this increase.
Harvest has begun in Essex County. By all accounts the quality is good, though
yields have been variable to date.
Harvest contract prices for July 13, 2011 at the close of markets are as
follows:
SWW at $255.82 per tonne ($6.96/bu.), SRW at $236.41 per tonne ($6.43/bu.), HRW
at $275.25 per tonne ($7.49 /bu.), and HRS at $288.05 per tonne ($7.84 /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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