[Farmmarketnews] Wednesday Ontario Commodity Report
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Mar 9 15:51:29 EST 2011
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, March 9
(All Bases in CAD)
Bank of Canada Noon exchange rate was 0.9686 down 0.0027
Chicago corn closed mixed.
MAY11 HI 7.11 1/4 DEC11 HI 6.13 3/4
LOW 6.91 1/4 LOW 6.02 1/4
CLOSE7.01 Down 4 1/2 CLOSE 6.10 1/4 Up 1/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +MAY11+JUL11+JUL11
CK Low -0.95 6.06 238.57 -1.00 5.10 200.88
CK High -0.93 6.08 239.36 -1.00 5.10 200.88
CK Avg -0.94 -0.72 6.07 238.83 -1.00 -0.82 5.10 200.88
Essex Cty -0.95 6.06 238.57 -1.00 5.10 200.88
Mdsx Low -0.95 6.06 238.57 -1.00 5.10 200.88
Mdsx High -0.93 6.08 239.36 -1.00 5.10 200.88
Mdsx Avg -0.94 -0.72 6.07 238.83 -1.00 -0.82 5.10 200.88
Hensall -0.94 6.07 238.97 -1.00 5.10 200.88
Bruce -0.93 6.08 239.36 -1.00 5.10 200.88
Putnam -0.93 6.08 239.36 -1.00 5.10 200.88
Princeton -0.95 6.06 238.57 -1.00 5.10 200.88
Durham -1.00 6.01 236.60 -1.05 5.05 198.91
Norfolk -0.95 6.06 238.57 -1.00 5.10 200.88
Trenton -0.95 6.06 238.57 -1.00 5.10 200.88
Winchester -0.90 6.11 240.54 -0.95 5.15 202.84
North Gower -0.95 6.06 238.57 -0.85 5.25 206.78
Huron FOB -0.90 6.11 240.54 -0.95 5.15 202.84
Kent FOB -0.95 6.06 238.57 -1.00 5.10 200.88
Lamb FOB -0.95 6.06 238.57 -1.00 5.10 200.88
Mdsx FOB -0.90 -0.90N/A N/A 6.11 240.54 -1.00 5.10 200.88
FOB SW Que -0.60 6.41 252.35 -0.70 5.40 212.69
Track -0.54 6.47 254.71N/A
PROCESSORS
Chat-Eth N/A N/A N/A N/A -0.80 5.30 208.75
Jhnstwn-Eth N/A N/A N/A N/A -0.75 5.35 210.72
Aylmer-Eth N/A -0.75 -0.75 -0.75 N/A
Sarn-Eth -0.70 -0.70 -0.60 -0.60 6.31 248.41N/A
Cllngwd-Eth -0.70N/A N/A N/A 6.31 248.41-0.70* 5.40 212.69
Kwrth-Eth N/A N/A N/A N/A N/A
London-Cas N/A N/A -0.70 -0.70 -0.70 5.40 212.69
Pt.Colb-Cas N/A N/A N/A N/A -0.65 5.45 214.66
Cardnl-Cas N/A N/A N/A N/A -0.60 5.50 216.62
W O Feed -0.56 -0.53 6.45 254.08
US Rep -0.15 -0.12 6.86 270.07
Toledo El. -0.17 6.84 269.11 -0.46 5.65 222.28
TRANSFER
Sarnia -0.95 6.06 238.57 -1.00 5.10 200.88
Pt. Stanley -1.00 6.01 236.60 -1.00 5.10200 7/8
Hamilton -0.97 6.04 237.78 -0.74 5.36211 1/9
MID SD CRN -0.94 6.07
HI SD CRN -0.93 6.08
*Wet Bid
Bank of Canada Noon exchange rate was 0.9686 down 0.0027
Chicago soybeans closed lower.
MAY11 HI 13.83 3/4 NOV11 HI 13.46
LOW 13.47 1/4 LOW 13.13
CLOSE13.49 Down 33 CLOSE 13.20 Down 26
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +MAY1+MAY1+JUL11
CK Low -1.31 12.18 447.54-1.50 11.70 429.90
CK High -1.25 12.24 449.74-1.40 11.80 433.58
CK Average -1.27 -0.8512.22 448.86-1.47-1.0811.73 431.15
Essex Cty -1.18 12.31 452.32-1.38 11.82 434.31
Mdsx Low -1.28 12.21 448.64-1.50 11.70 429.90
Mdsx High -1.20 12.29 451.58-1.42 11.78 432.84
Mdsx Average -1.24 -0.8212.25 449.99-1.45-1.0711.75 431.62
Hensall -1.28 12.22 448.82-1.53 11.68 428.98
Bruce -1.25 12.24 449.74-1.50 11.70 429.90
Putnam -1.25 12.24 449.74-1.50 11.70 429.90
Princeton -1.15 12.34 453.42-1.40 11.80 433.58
Durham -1.24 12.25 450.11-1.46 11.74 431.37
Norfolk -1.19 12.30 451.95-1.41 11.79 433.21
Trenton -1.45 12.04 442.39-1.40 11.80 433.58
Winchester -1.42 12.07 443.50-1.32 11.88 436.52
North Gower -1.40 12.09 444.23-1.30 11.90 437.25
Huron FOB -1.15 12.34 453.42-1.45 11.75 431.74
Kent FOB -1.24 12.25 450.11-1.46 11.74 431.37
Lambton FOB -1.24 12.25 450.11-1.46 11.74 431.37
Middlesex FOB-1.05-1.00-0.90 N/A 12.44 457.09-1.12 12.08 443.86
PROCESSORS
Hamilton -0.85-0.80-0.80-0.75 12.64 464.44-0.80 12.40 455.62
Windsor -0.79-0.72-0.70-0.76 12.70 466.65-0.97 12.23 449.38
Winchester -1.32 12.17 447.17-1.22 11.98 440.19
TRANSFER
Hamilton -0.90 N/A N/A N/A 12.59 462.60-0.85 12.35 453.78
Pt. Stanley -1.35 12.14 446.07-1.30 11.90 437.25
Sarnia -0.98 12.51 459.66-0.90 12.30 451.95
Owen Sound N/A N/A
Sorel QC -0.60 12.89 473.63-0.55 12.65 464.81
Toledo El. -0.24 13.25 486.78-0.47 12.73 467.90
Bank of Canada Noon exchange rate was 0.9686 down 0.0027
Chicago wheat closed lower.
MAY11 HI 7.89 JUL11 HI 8.21
LOW 7.49 1/4 LOW 7.81 1/4
CLOSE 7.58 3/4 Down 21 CLOSE 7.91 Down 20 1/2
Minni wheat closed moderately lower.
MAY11 HI 9.29 SEP11 HI 9.30
LOW 8.94 LOW 8.97 3/4
CLOSE 9.03 3/4 Down 18 1/2 CLOSE 9.09 1/2 Down 16
GFO Cash Wheat Prices - DEL Terminal
Current Crop 10 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -1.06 -0.58 -1.06 -0.70
CAD $/bu 6.53 7.01 6.53 8.34
CAD $/tonne 239.79 257.59 239.79 306.35
Direct MarkHarvest 2010 Harvest 2011
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 -0.65 -1.25 N/A N/A -1.20 -2.10 N/A
London -0.99 -0.65 -1.18 N/A -1.40 -1.45 -2.18 N/A
Hensall -0.85 N/A -1.20 N/A -1.20 N/A -2.05 N/A
Trenton N/A N/A N/A N/A N/A N/A -2.00 N/A
Winchester N/A N/A N/A N/A N/A N/A N/A -1.30
Essex N/A N/A -1.30 N/A N/A N/A -2.16 N/A
Norwich -0.85 N/A -1.20 N/A -1.10 N/A -2.15 N/A
Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A
Kent Bridge -0.85 N/A -1.20 N/A -1.10 N/A -2.15 N/A
Chatham N/A -0.50 -1.25 N/A N/A -1.40 -2.05 N/A
Brigden N/A -0.50 -1.25 N/A N/A -1.40 -2.05 N/A
Palmerston N/A -0.58 -1.15 -0.19 N/A -1.01 -2.03 -0.88
Mitchell -0.85 -0.75 -1.20 N/A -1.20 -1.25 -2.05 N/A
Thornton N/A N/A N/A -1.59 N/A N/A N/A -1.91
North Gower N/A N/A N/A N/A N/A N/A N/A -1.34
TERMINAL
Sarnia -1.21 -0.53 -1.97 N/A -1.10 -0.91 -1.74 N/A
Hamilton N/A N/A -0.50 N/A N/A N/A -1.20 N/A
Pt. Stanley N/A N/A -1.00 N/A N/A N/A -1.65 N/A
PROCESSORS
Toledo FM N/A 0.21 -0.67 N/A 0.01 -0.04 -0.81 N/A
Toledo El. 7.08US 6.86CA 7.18US 6.97CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 11 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -1.15 -0.81 -1.74 -0.99
CAD $/bu 6.76 7.10 6.17 8.10
CAD $/tonne 248.24 260.72 226.84 297.64
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
Bayport Wheat 295.00 - 300.00
Bayport Oats 300.00
Bayport Barley 257.00
FOB Hm Soymeal 373.58 - 374.68
DDG's FOB Srn, Wndr, Aylm 190.00 - 205.00
Wednesday 9 March 2011
Commodity Period Price Weekly Movement
Corn CBOT May. 7.00 ½ ↓ 21 cents
Soybeans CBOT May. 13.55 ¾ ↓ 38 ½ cents
Wheat CBOT May. 7.58 ¾ ↓ 52 ½ cents
Wheat Minn. May. 9.03 ¾ ↓ 36 ½ cents
Wheat Kansas May. 8.53 ½ ↓ 56 ½ cents
Canadian $ Jun. 1.0302 ↑ 38 points
CORN
Corn futures have climbed recently to curb demand and entice farmers to expand
plantings this spring to replenish supplies, however an across the board selloff
this week did see corn futures touch a seven day low. The possibility of
ethanol subsidies being cut or eliminated in 2012 has the trade looking hard at
corn values. Farmers are expected to sow significantly more corn than they did
last year.
It is expected the USDA Supply & Demand update report due out on Thursday will
see few changes from the previous report. The planting intentions report due on
March 31 is the one that really matters for corn now and will have the attention
of all.
SOYBEANS
Soybean futures fell on Tuesday for a second straight day, pressured by a
strong dollar and high oil prices, both of which could crimp demand. Traders
were consolidating positions ahead of a USDA report that some expect to lift the
US soybean stocks forecast for the first time in 11 months; due a slowdown in
domestic usage.
Rains continue to delay harvest in Brazil, it will be interesting to see how
the USDA estimates the crop sizes in South America and the world inventory.
Petroleum markets will carefully monitor the scheduled “Days of Rage” in
Saudi Arabia on March 11th and 20th.
WHEAT
Wheat values continue to soften despite another week of poor US crop ratings
and dryness fears. There are concerns that the rise in oil prices driven by the
crisis in Libya may stall economic recovery in the US and elsewhere while recent
high prices appeared to be starting to curtail demand for wheat. However, some
countries continue to make purchases as it was reported that Iraq bought another
quantity of US wheat.
The USDA reported wheat export inspections of 21.44 million bushels on Monday,
near the low end of forecasts, which the trade viewed as evidence that export
demand for US supplies has slowed down after a surge in February. It will be
interesting to see if the USDA factors these slower exports into their Supply &
Demand update, and increases ending stock projections.
Current contract prices for March 9, 2011 at the close are as follows:
SWW at $239.84 per tonne ($6.53 /bu.), SRW at $239.84 per tonne ($6.53 /bu.),
HRW at $257.64 per tonne ($7.01 /bu.), and HRS at $306.40 per tonne ($8.34
/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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