[Farmmarketnews] Thursday Ontario Commodity Report & Todd Austin Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Thu Mar 24 16:26:14 EDT 2011
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, March 24
(All Bases in CAD)
Bank of Canada Noon exchange rate was 0.9748 down 0.0073
Chicago corn closed moderately to sharply higher.
MAY11 HI 7.03 1/2 DEC11 HI 6.18 3/4
LOW 6.76 1/4 LOW 6.05 1/2
CLOSE7.02 1/2 Up 21 1/2 CLOSE 6.18 3/4 Up 9
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +MAY11+JUL11+JUL11
CK Low -0.85 6.18 243.10 -1.00 5.19 204.22
CK High -0.77 6.26 246.25 -0.95 5.24 206.19
CK Avg -0.80 -0.65 6.22 244.94 -0.99 -0.86 5.20 204.55
Essex Cty -0.85 6.18 243.10 -1.00 5.19 204.22
Mdsx Low -0.85 6.18 243.10 -1.00 5.19 204.22
Mdsx High -0.80 6.23 245.07 -1.00 5.19 204.22
Mdsx Avg -0.82 -0.66 6.21 244.41 -1.00 -0.87 5.19 204.22
Hensall -0.80 6.23 245.07 -1.00 5.19 204.22
Bruce -0.80 6.23 245.07 -1.00 5.19 204.22
Putnam -0.80 6.23 245.07 -1.00 5.19 204.22
Princeton -0.85 6.18 243.10 -1.00 5.19 204.22
Durham -0.85 6.18 243.10 -1.05 5.14 202.25
Norfolk -0.77 6.26 246.25 -0.95 5.24 206.19
Trenton -0.85 6.18 243.10 -1.05 5.14 202.25
Winchester -0.60 6.43 252.94 -0.90 5.29 208.16
North Gower -0.60 6.43 252.94 -0.85 5.34 210.13
Huron FOB -0.75 6.28 247.04 -0.95 5.24 206.19
Kent FOB -0.77 6.26 246.25 -0.95 5.24 206.19
Lamb FOB -0.77 6.26 246.25 -0.95 5.24 206.19
Mdsx FOB -0.80 -0.75 -0.80N/A 6.23 245.07 -1.00 5.19 204.22
FOB SW Que -0.40 6.63 260.81 -0.60 5.59 219.97
Track -0.38 6.65 261.80N/A
PROCESSORS
Chat-Eth N/A N/A N/A N/A -0.80 5.39 212.10
Jhnstwn-Eth N/A N/A N/A N/A -0.75 5.44 214.06
Aylmer-Eth N/A -0.55 -0.55 -0.55 N/A
Sarn-Eth N/A -0.60 -0.50 -0.45 N/A
Cllngwd-Eth -0.55N/A N/A N/A 6.48 254.91-0.70* 5.49 216.03
Kwrth-Eth N/A -0.45N/A N/A N/A
London-Cas N/A N/A N/A -0.70 -0.70 5.49 216.03
Pt.Colb-Cas N/A N/A N/A N/A -0.65 5.54 218.00
Cardnl-Cas N/A N/A N/A N/A -0.60 5.59 219.97
W O Feed -0.42 -0.40 6.61 260.03
US Rep 0.15 0.17 7.18 282.47
Toledo El. -0.16 6.87 270.40 -0.46 5.73 225.49
TRANSFER
Sarnia -0.85 6.18 243.10 -1.00 5.19 204.22
Pt. Stanley -0.95 6.08 239.16 -0.95 5.24206 1/5
Hamilton -0.40 6.63 260.81 -0.70 5.49216
MID SD CRN -0.81 6.21 1/2
HI SD CRN -0.77 6.25 1/2
*Wet Bid
Bank of Canada Noon exchange rate was 0.9748 down 0.0073
Chicago soybeans closed slightly higher.
MAY11 HI 13.58 NOV11 HI 13.44 3/4
LOW 13.38 LOW 13.27 1/2
CLOSE13.54 1/2 Up 3 1/4 CLOSE 13.43 1/2 Up 10 1/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +MAY1+MAY1+JUL11
CK Low -1.05 12.50 459.11-1.25 12.19 447.72
CK High -0.98 12.57 461.68-1.15 12.29 451.40
CK Average -1.00 -0.7112.54 460.88-1.22-0.9312.21 448.75
Essex Cty -0.89 12.66 464.99-1.05 12.39 455.07
Mdsx Low -1.04 12.51 459.48-1.25 12.19 447.72
Mdsx High -0.96 12.59 462.42-1.16 12.28 451.03
Mdsx Average -1.00 -0.7112.55 460.95-1.20-0.9112.24 449.56
Hensall -0.98 12.57 461.87-1.23 12.21 448.64
Bruce -1.00 12.55 460.95-1.25 12.19 447.72
Putnam -1.00 12.55 460.95-1.25 12.19 447.72
Princeton -0.95 12.60 462.79-1.11 12.33 452.87
Durham -0.98 12.57 461.68-1.21 12.23 449.19
Norfolk -0.97 12.58 462.05-1.21 12.23 449.19
Trenton -1.15 12.40 455.44-1.25 12.19 447.72
Winchester -1.10 12.45 457.28-1.15 12.29 451.40
North Gower -1.00 12.55 460.95-1.05 12.39 455.07
Huron FOB -0.80 12.75 468.30-1.10 12.34 453.23
Kent FOB -1.02 12.53 460.21-1.26 12.18 447.35
Lambton FOB -1.02 12.53 460.21-1.26 12.18 447.35
Middlesex FOB-0.70-0.76-0.76 N/A 12.85 471.97-1.02 12.42 456.17
PROCESSORS
Hamilton -0.55-0.55-0.60-0.75 13.00 477.48-0.75 12.69 466.09
Windsor -0.53-0.53-0.50-0.59 13.02 478.22-0.80 12.64 464.26
Winchester -1.00 12.55 460.95-1.10 12.34 453.23
TRANSFER
Hamilton -0.40 N/A N/A N/A 13.15 483.00-0.55 12.89 473.44
Pt. Stanley -0.90 12.65 464.62-1.15 12.29 451.40
Sarnia -0.73 12.82 470.87-0.67 12.77 469.03
Owen Sound N/A N/A
Sorel QC -0.30 13.25 486.67-0.30 13.14 482.63
Toledo El. -0.20 13.35 490.50-0.47 12.97 476.40
Bank of Canada Noon exchange rate was 0.9748 down 0.0073
Chicago wheat closed higher.
MAY11 HI 7.41 3/4 JUL11 HI 7.76 3/4
LOW 7.10 LOW 7.45 3/4
CLOSE 7.39 1/2 Up 25 1/4 CLOSE 7.74 3/4 Up 24 1/2
Minni wheat closed higher.
MAY11 HI 8.89 SEP11 HI 9.03 1/4
LOW 8.56 1/2 LOW 8.71 1/2
CLOSE 8.83 1/4 Up 24 1/4 CLOSE 8.97 Up 23 1/2
GFO Cash Wheat Prices - DEL Terminal
Current Crop 10 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.65 -0.26 -0.70 -0.47
CAD $/bu 6.75 7.14 6.70 8.37
CAD $/tonne 247.85 262.22 246.05 307.43
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 -0.50 -1.00 N/A N/A -0.95 -1.60 N/A
London -0.89 -0.50 -1.04 N/A -1.18 -1.33 -1.82 N/A
Hensall -0.60 N/A -0.95 N/A -0.95 N/A -1.85 N/A
Trenton N/A N/A N/A N/A N/A N/A -1.55 N/A
Winchester N/A N/A N/A N/A N/A N/A N/A -1.30
Essex N/A N/A -0.94 N/A N/A N/A -1.90 N/A
Norwich -0.60 N/A -0.95 N/A -0.95 N/A -1.85 N/A
Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A
Kent Bridge -0.60 N/A -0.95 N/A -0.95 N/A -1.85 N/A
Chatham N/A -0.50 -1.07 N/A N/A -1.36 -1.60 N/A
Brigden N/A -0.50 -1.07 N/A N/A -1.36 -1.60 N/A
Palmerston N/A -0.48 -1.04 0.06 N/A -0.81 -1.50 -0.76
Mitchell -0.60 -0.50 -0.95 N/A -0.95 -0.95 -1.85 N/A
Thornton N/A N/A N/A -1.20 N/A N/A N/A -1.59
North Gower N/A N/A N/A N/A N/A N/A N/A -0.70
TERMINAL
Sarnia -0.49 -0.15 -0.59 N/A -0.92 -0.67 -1.57 N/A
Hamilton N/A N/A -0.35 N/A N/A N/A -1.00 N/A
Pt. Stanley N/A N/A -0.75 N/A N/A N/A -1.50 N/A
PROCESSORS
Toledo FM N/A N/A -0.36 N/A 0.08 0.13 -0.66 N/A
Toledo El. 7.04US 6.88CA 7.22US 7.06CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 11 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.90 -0.56 -1.49 -0.78
CAD $/bu 6.85 7.19 6.26 8.19
CAD $/tonne 251.53 264.11 229.96 300.87
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
Bayport Wheat 285.00 - 300.00
Bayport Oats 300.00
Bayport Barley 255.00
FOB Hm Soymeal 387.80 - 390.00
DDG's FOB Srn, Wndr, Aylm 190.00 - 200.00
Wednesday 23 March 2011
Commodity
Period
Price
Weekly Movement
Corn CBOT
May.
6.81
↑
63 ¼
cents
Soybeans CBOT
May.
13.51 ¼
↑
62 ¼
cents
Wheat CBOT
May.
7.14 ¼
↑
51 ¼
cents
Wheat Minn.
May.
8.45
↑
53
cents
Wheat Kansas
May.
8.45
↑
66 ¾
cents
Canadian $
Jun.
1.0180
↑
111
points
CORN
Heading into planting season, demand for corn remains strong. This will put
pressure on the market if the U.S. plants fewer acres than the trade is
expecting. As a producer, this will hopefully create some marketing
opportunities.
Farm Futures released planting intention data on the 23rd. their results show
an expected acreage of 91.4 million acres, an increase of 3.6 percent from last
year. This however, is below trade expectations of 92 million acres. The USDA
will publish their planting intentions at the end of this month.
SOYBEANS
Farm Futures has also released data on expected soybean acres. They are
projecting an acreage increase of 1.4 percent over last year to 78.5 million
acres. We must remember that current ending stocks are very tight for both corn
and soybeans; yield will be equally as important as acreage. Ideal spring and
summer weather will certainly play important role in helping to rebuild stocks.
The U.S., Brazil, and Argentina account for nearly 90 percent of soybean
exports, of this, nearly 60 percent of the exports go to China. Strong Chinese
demand will continue to put pressure on world stocks.
WHEAT
In response to strong prices, the Food and Agricultural Organization
anticipates that world wheat production will rise 3.4 percent in 2011, to 676
million tonnes. The FAO also expects yields to recover in those areas that were
affected by drought last year.
Hard red wheat areas in the U.S. have been in need of moisture. A recent storm
forecasting much needed precipitation in the form of snow, has put pressure on
futures prices. Crop ratings have been poor. It will be interesting if there
will be increased abandonment due to the continued dryness in the region, or
will this much needed moisture improve the condition of the wheat.
Current contract prices for March 23, 2011 at the close are as follows:
SWW at $226.97 per tonne ($6.18 /bu.), SRW at $232.38 per tonne ($6.32 /bu.),
HRW at $248.61 per tonne ($6.77 /bu.), and HRS at $294.32 per tonne ($8.01
/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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