[Farmmarketnews] Wednesday Ontario Commodity Report & Ahmed Chilmeran Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Nov 2 15:57:41 EDT 2011
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, November 2
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.0126 down 0.0072
Chicago corn closed slightly to moderately lower.
DEC11 HI 6.59 1/2 DEC12 HI 6.09 3/4
LOW 6.40 1/2 LOW 6.00 1/2
CLOSE6.45 Down 9 1/4 CLOSE 6.05 1/2 Down 1
1/2
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +DEC11+MAR12+MAR12
CK Low -0.40 6.05 238.18 -0.55 5.51 216.72
CK High -0.30 6.15 242.11 -0.50 5.56 218.69
CK Avg -0.33 -0.43 6.12 240.80 -0.51 -0.60 5.55 218.36
Essex Cty -0.30 6.15 242.11 -0.55 5.51 216.72
Mdsx Low -0.35 6.10 240.15 -0.50 5.56 218.69
Mdsx High -0.30 6.15 242.11 -0.50 5.56 218.69
Mdsx Avg -0.33 -0.42 6.13 241.13 -0.50 -0.59 5.56 218.69
Hensall -0.35 6.10 240.15 -0.50 5.56 218.69
Bruce -0.40 6.05 238.18 -0.55 5.51 216.72
Putnam -0.35 6.10 240.15 -0.50 5.56 218.69
Princeton -0.30 6.15 242.11 -0.50 5.56 218.69
Durham -0.35 6.10 240.15 -0.55 5.51 216.72
Norfolk -0.30 6.15 242.11 -0.50 5.56 218.69
Palmerston -0.35 6.10 240.15 -0.50 5.56 218.69
Varna -0.35 6.10 240.15 -0.50 5.56 218.69
Trenton -0.40 6.05 238.18 -0.60 5.46 214.75
Winchester -0.35 6.10 240.15 -0.60 5.46 214.75
North Gower -0.24 6.21 244.48N/A
Huron FOB -0.35 6.10 240.15 -0.50 5.56 218.69
Kent FOB -0.30 6.15 242.11 -0.50 5.56 218.69
Lamb FOB -0.30 6.15 242.11 -0.50 5.56 218.69
Mdsx FOB -0.30 -0.30 -0.20 -0.15 6.15 242.11 -0.50 5.56 218.69
FOB SW Que -0.35 6.10 240.15 -0.15 5.91 232.47
Track 0.03 6.48 254.91N/A
PROCESSORS
Chat-Eth N/A N/A N/A N/A -0.50 5.56 218.69
Jhnstwn-Eth N/A -0.25 -0.10 -0.05 -0.25 5.81 228.53
Aylmer-Eth -0.25 -0.25 -0.25 -0.20 6.20 244.08 N/A
Sarn-Eth -0.30 -0.10 0.00 0.05 6.15 242.11N/A
Cllngwd-Eth -0.15N/A N/A N/A 6.30 248.02-0.30* 5.76 226.56
London-Cas N/A -0.20 -0.05 0.00 -0.30 5.76 226.56
Pt.Colb-Cas 0.05 -0.15 0.00 0.05 6.50 255.89 -0.20 5.86 230.50
Cardnl-Cas N/A -0.60 0.00 0.05 -0.25 5.81 228.53
W O Feed 0.19 0.18 6.64 261.41
US Rep 0.40 0.39 6.85 269.67
Toledo El. 0.05 6.50 255.92 -0.54 5.52 217.19
TRANSFER
Sarnia N/A N/A
Pt. Stanley -0.30 6.15 242.11N/A
Hamilton -0.25 6.20244 -0.25 5.81228 1/2
MID SD CRN -0.35 6.10
HI SD CRN -0.30 6.15
*Wet Bid
Bank of Canada Noon exchange rate was 1.0126 down 0.0072
Chicago soybeans closed slightly higher.
JAN12 HI 12.18 1/2 NOV12 HI 12.23 3/4
LOW 11.96 1/2 LOW 12.03 1/2
CLOSE12.02 3/4 Up 1/4 CLOSE 12.14 Up 5 1/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +JAN1+JAN1+MAR12
CK Low -0.85 11.18 410.70-0.95 11.19 411.16
CK High -0.80 11.23 412.54-0.90 11.24 413.00
CK Average -0.83 -1.0111.20 411.50-0.93-1.1211.21 411.96
Essex Cty -0.78 11.25 413.27-0.82 11.32 415.94
Mdsx Low -0.89 11.14 409.23-0.96 11.18 410.79
Mdsx High -0.75 11.28 414.38-0.85 11.29 414.84
Mdsx Average -0.82 -1.0011.21 411.81-0.91-1.0911.24 412.82
Hensall -0.75 11.28 414.38-0.85 11.29 414.84
Bruce -0.95 11.08 407.03-0.95 11.19 411.16
Putnam -0.75 11.28 414.38-0.85 11.29 414.84
Princeton -0.83 11.20 411.44-0.90 11.24 413.00
Durham -0.92 11.11 408.13-0.99 11.15 409.69
Norfolk -0.78 11.25 413.27-0.81 11.33 416.31
Palmerston -0.95 11.08 407.03-0.95 11.19 411.16
Varna -0.85 11.18 410.70-0.90 11.24 413.00
Trenton -0.90 11.13 408.87-1.00 11.14 409.32
Winchester -0.80 11.23 412.54-0.90 11.24 413.00
North Gower 0.08 12.11 444.87 N/A
Huron FOB -0.65 11.38 418.05-0.75 11.39 418.51
Kent FOB -0.83 11.20 411.44-0.93 11.21 411.90
Lambton FOB -0.83 11.20 411.44-0.93 11.21 411.90
Middlesex FOB-0.74-0.59-0.59 N/A 11.29 414.74-0.75 11.39 418.51
PROCESSORS
Hamilton -0.30-0.35-0.25-0.20 11.73 430.91-0.30 11.84 435.05
Windsor -0.55-0.29-0.23-0.28 11.48 421.73-0.59 11.55 424.39
Winchester -0.70 11.33 416.21-0.80 11.34 416.67
TRANSFER
Hamilton -0.33 N/A N/A N/A 11.70 429.81-0.31 11.83 434.68
Pt. Stanley -0.83 11.20 411.44 N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC -0.10 11.93 438.260.00 12.14 446.07
Toledo El. -0.33 11.69 429.63-0.59 11.55 424.43
Bank of Canada Noon exchange rate was 1.0126 down 0.0072
Chicago wheat closed slightly lower.
DEC11 HI 6.38 1/2 JUL12 HI 7.12
LOW 6.20 1/4 LOW 6.92 3/4
CLOSE 6.23 1/2 Down 6 1/2 CLOSE 6.98 Down 7 1/4
Minni wheat closed narrowly mixed.
MAR12 HI 8.74 3/4 SEP12 HI 8.19 1/4
LOW 8.58 1/4 LOW 8.10 1/4
CLOSE 8.64 1/2 Up 1 3/4 CLOSE 8.13 1/2 Down 1/4
GFO Cash Wheat Prices - DEL Terminal
Current Crop 11 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.21 0.70 -0.21 0.33
CAD $/bu 6.02 6.94 6.02 8.98
CAD $/tonne 221.37 254.94 221.37 329.91
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 0.25 -0.20 N/A N/A 0.10 -0.40 N/A
London -0.31 0.40 -0.21 N/A N/A 0.10 -0.46 N/A
Hensall -0.20 N/A -0.25 N/A -0.15 N/A -0.55 N/A
Trenton N/A N/A -0.50 N/A N/A N/A -0.70 N/A
Winchester N/A N/A N/A -1.00 N/A N/A N/A -0.30
Essex N/A N/A -0.43 N/A N/A N/A -0.48 N/A
Norwich -0.20 N/A -0.25 N/A -0.15 N/A -0.55 N/A
Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A
Kent Bridge -0.20 N/A -0.25 N/A -0.05 N/A -0.45 N/A
Chatham N/A 0.60 0.00 N/A N/A 0.50 -0.40 N/A
Brigden N/A 0.60 0.00 N/A N/A 0.50 -0.40 N/A
Palmerston N/A 0.70 -0.11 0.27 N/A 0.66 -0.41 0.11
Varna -0.15 0.65 -0.15 N/A 0.00 0.60 -0.45 N/A
Mitchell -0.20 0.40 -0.25 N/A -0.15 0.40 -0.50 N/A
Thornton N/A N/A N/A -0.94 N/A N/A N/A N/A
North Gower N/A N/A N/A N/A N/A N/A N/A N/A
TERMINAL
Sarnia N/A N/A N/A N/A N/A N/A N/A N/A
Hamilton N/A N/A 0.30 N/A N/A N/A -0.22 N/A
Pt. Stanley N/A N/A -0.16 N/A N/A N/A N/A N/A
PROCESSORS
Toledo FM N/A 0.80 0.20N/A 0.21 1.02 0.31N/A
Toledo El. 6.11US 6.20CA 6.95US 7.06CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.30 0.51 -0.50 0.02
CAD $/bu 6.68 7.49 6.48 8.16
CAD $/tonne 245.53 275.38 238.07 299.82
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
Bayport Wheat 295.00 - 298.00
Bayport Oats 310.00
Bayport Barley 285.00
FOB Hm Soymeal 375.34 - 376.45
DDG's FOB Srn, Wndr, Aylm 223.00 - 240.00
Wednesday November 2, 2011
Commodity
Period
Price
Weekly Movement Wednesday to Friday
Corn CBOT
Dec.
6.450
↓
8.00
cents
Soybeans CBOT
Nov.
11.935
↓
32.75
cents
Wheat CBOT
Dec.
6.235
↓
20.00
cents
Wheat Minn.
Mar
8.645
↓
3.00
cents
Wheat Kansas
Dec.
7.130
↓
22.75
cents
Canadian $
Dec.
0.985
↓
197.00
points
After EU leaders agreed last week on measures to help Greece stabilize the
euro, the Greek prime minister stunned fellow euro zone partners earlier and
shook financial markets by calling a referendum on the formerly planned 178
billion euro bailout package and 50% write-down on debt. The ongoing turmoil
could potentially lead to an early government election in Greece which in turn
will further destabilize markets as more Greek politics trickle to the already
volatile global economy. The Canadian dollar drifted higher against its US
counterpart on Wednesday, while Canada’s Office of the Parliamentary Budget
Officer is predicting slower economic growth and higher unemployment than the
Harper government and noted that the national budget probably won't be balanced
until 2016-17 at the earliest.
CORN
Corn gained in Chicago amid speculation of lower production in Mexico, the
world’s second- largest importer of corn will lift imports and add to
tightening supplies.According to the USDA, world corn stocks are forecast to
fall as rising consumption outpaces production. FCStone estimated the national
corn yield at 148.4 bu/acre down 0.3 bu/acre from last month but still above
USDA’s number.
SOYBEANS
The US soybean market, the world’s largest grower and exporter will harvest
3.109 billion bushels according to the recent FCStone forecast, lowering its
forecast from 3.157 billion bushels last month. The latest estimate compares
with the USDA’s forecast of 3.06 billion bushels on October 1st. Soybean
harvest in Ontario continues thanks to dryer weather conditions.
WHEAT
Wheat futures slipped amidst speculation of wheat production totalling 688.7
million metric tons this year, a 1.1% increase over the most recent USDA
estimate according to Informa Economics Inc., an agriculture research company.
Chicago wheat futures for December delivery dropped 1.1% to $6.23/bu.
Harvest contract prices for November 2, 2011 at close, are as follows:
SWW at $221.45 per tonne ($6.03/bu.), SRW at $221.45 per tonne ($6.03/bu.),
HRW at $255.03 per tonne ($6.94 /bu.), and HRS at $330.04 per tonne ($8.98
/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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