[Farmmarketnews] Wednesday Ontario Commodity Report & Ahmed Chilmeran Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Nov 16 15:58:40 EST 2011
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, November 16
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.0206 down 0.0029
Chicago corn closed slightly lower.
DEC11 HI 6.48 DEC12 HI 5.83
LOW 6.36 3/4 LOW 5.75 1/2
CLOSE6.42 3/4 Down 2 3/4 CLOSE 5.81 1/4 Down 2
1/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +MAR12+MAR12+MAR12
CK Low -0.35 6.08 239.26 -0.55 5.26 207.18
CK High -0.30 6.13 241.23 -0.50 5.31 209.14
CK Avg -0.34 -0.47 6.09 239.59 -0.51 -0.64 5.30 208.82
Essex Cty -0.40 6.03 237.29 -0.60 5.21 205.21
Mdsx Low -0.35 6.08 239.26 -0.50 5.31 209.14
Mdsx High -0.35 6.08 239.26 -0.50 5.31 209.14
Mdsx Avg -0.35 -0.48 6.08 239.26 -0.50 -0.63 5.31 209.14
Hensall -0.35 6.08 239.26 -0.50 5.31 209.14
Bruce -0.35 6.08 239.26 -0.50 5.31 209.14
Putnam -0.40 6.03 237.29 -0.50 5.31 209.14
Princeton -0.35 6.08 239.26 -0.50 5.31 209.14
Durham -0.40 6.03 237.29 -0.55 5.26 207.18
Norfolk -0.30 6.13 241.23 -0.50 5.31 209.14
Palmerston -0.40 6.03 237.29 -0.50 5.31 209.14
Varna -0.35 6.08 239.26 -0.50 5.31 209.14
Trenton -0.40 6.03 237.29 -0.55 5.26 207.18
Winchester -0.35 6.08 239.26 -0.60 5.21 205.21
North Gower -0.33 6.10 240.05N/A
Huron FOB -0.35 6.08 239.26 -0.50 5.31 209.14
Kent FOB -0.30 6.13 241.23 -0.50 5.31 209.14
Lamb FOB -0.30 6.13 241.23 -0.50 5.31 209.14
Mdsx FOB -0.35 -0.20 -0.15 -0.10 6.08 239.26 -0.50 5.31 209.14
FOB SW Que -0.30 6.13 241.23 -0.25 5.56 218.99
Track 0.03 6.45 254.02N/A
PROCESSORS
Chat-Eth N/A N/A N/A N/A -0.50 5.31 209.14
Jhnstwn-Eth N/A -0.25 -0.10 -0.05 -0.25 5.56 218.99
Aylmer-Eth -0.25 -0.25 -0.25 -0.20 6.18 243.20 N/A
Sarn-Eth N/A 0.00 0.05 0.10 N/A
Cllngwd-Eth -0.15N/A N/A N/A 6.28 247.13-0.20* 5.61 220.95
London-Cas 0.05 -0.05 0.00 0.00 6.48 255.01 -0.30 5.51 217.02
Pt.Colb-Cas 0.15 -0.15 0.00 0.05 6.58 258.94 -0.25 5.56 218.99
Cardnl-Cas N/A -0.40 0.00 0.05 -0.25 5.56 218.99
W O Feed 0.13 0.11 6.56 258.16
US Rep 0.45 0.43 6.88 270.76
Toledo El. 0.05 6.48 255.05 -0.54 5.27 207.48
TRANSFER
Sarnia N/A N/A
Pt. Stanley -0.35 6.08 239.26N/A
Hamilton -0.05 6.38251 -0.24 5.57219 3/8
MID SD CRN -0.32 1/2 6.10 1/4
HI SD CRN -0.30 6.12 3/4
*Wet Bid
Bank of Canada Noon exchange rate was 1.0206 down 0.0029
Chicago soybeans closed slightly to moderately lower.
JAN12 HI 12.03 NOV12 HI 12.12
LOW 11.82 3/4 LOW 11.95
CLOSE11.87 3/4 Down 12 1/2 CLOSE 12.01 3/4 Down 9 1/2
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +JAN1+JAN1+MAR12
CK Low -0.70 11.18 410.70-0.84 11.18 410.70
CK High -0.67 11.21 411.81-0.75 11.27 414.01
CK Average -0.69 -0.9411.18 410.95-0.79-1.0711.22 412.42
Essex Cty -0.82 11.06 406.29-0.86 11.16 409.97
Mdsx Low -0.65 11.23 412.54-0.85 11.17 410.34
Mdsx High -0.65 11.23 412.54-0.80 11.22 412.17
Mdsx Average -0.65 -0.8911.23 412.54-0.83-1.1011.19 411.25
Hensall -0.63 11.25 413.46-0.78 11.24 413.09
Bruce -0.65 11.23 412.54-0.80 11.22 412.17
Putnam -0.75 11.13 408.87-0.85 11.17 410.34
Princeton -0.59 11.29 414.74-0.79 11.23 412.54
Durham -0.68 11.20 411.44-0.88 11.14 409.23
Norfolk -0.62 11.26 413.64-0.76 11.26 413.64
Palmerston -0.65 11.23 412.54-0.75 11.27 414.01
Varna -0.65 11.23 412.54-0.75 11.27 414.01
Trenton -0.80 11.08 407.03-0.90 11.12 408.50
Winchester -0.64 11.24 412.91-0.74 11.28 414.38
North Gower -0.26 11.62 426.87 N/A
Huron FOB -0.50 11.38 418.05-0.65 11.37 417.68
Kent FOB -0.67 11.21 411.81-0.82 11.20 411.44
Lambton FOB -0.67 11.21 411.81-0.82 11.20 411.44
Middlesex FOB-0.49-0.46 N/A N/A 11.39 418.42-0.64 11.38 418.05
PROCESSORS
Hamilton -0.10-0.10-0.05-0.10 11.78 432.75-0.20 11.82 434.22
Windsor -0.59-0.33-0.27-0.32 11.29 414.74-0.60 11.42 419.52
Winchester -0.54 11.34 416.58-0.64 11.38 418.05
TRANSFER
Hamilton -0.25 N/A N/A N/A 11.63 427.24-0.30 11.72 430.54
Pt. Stanley -0.69 11.19 411.07-0.75 11.27 414.01
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC 0.00 11.88 436.420.05 12.07 443.40
Toledo El. -0.29 11.59 425.92-0.59 11.42 419.76
Bank of Canada Noon exchange rate was 1.0206 down 0.0029
Chicago wheat closed slightly to moderately lower.
DEC11 HI 6.39 3/4 JUL12 HI 6.83
LOW 6.15 LOW 6.67 1/4
CLOSE 6.16 3/4 Down 16 CLOSE 6.72 1/4 Down 6 1/4
Minni wheat closed mixed.
MAR12 HI 8.91 3/4 SEP12 HI 8.16 1/4
LOW 8.79 LOW 8.06
CLOSE 8.90 Up 7 3/4 CLOSE 8.11 3/4 Down 2 3/4
GFO Cash Wheat Prices - DEL Terminal
Current Crop 11 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.13 0.99 0.13 0.69
CAD $/bu 6.29 7.16 6.29 9.59
CAD $/tonne 231.29 263.16 231.29 352.51
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 0.71 0.11 N/A N/A 0.56 -0.27 N/A
London 0.00 0.67 0.05 N/A N/A 0.53 -0.29 N/A
Hensall 0.00 N/A 0.10 N/A 0.00 N/A -0.30 N/A
Trenton N/A N/A N/A N/A N/A N/A -0.70 N/A
Winchester N/A N/A N/A N/A N/A N/A N/A -0.30
Essex N/A N/A 0.01 N/A N/A N/A -0.41 N/A
Norwich 0.00 N/A 0.10 N/A 0.00 N/A -0.30 N/A
Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A
Kent Bridge 0.00 N/A 0.10 N/A 0.00 N/A -0.30 N/A
Chatham N/A 0.66 0.11 N/A N/A 0.56 -0.27 N/A
Brigden N/A 0.66 0.11 N/A N/A 0.56 -0.27 N/A
Palmerston N/A 0.88 0.06 0.86 N/A 0.59 -0.24 0.21
Varna -0.05 0.75 -0.05 N/A 0.10 0.70 -0.35 N/A
Mitchell 0.00 0.75 0.10 N/A 0.00 0.70 -0.30 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 0.40 N/A N/A N/A -0.20 N/A
Pt. Stanley N/A N/A -0.05 N/A N/A N/A -0.65 N/A
PROCESSORS
Toledo FM N/A 0.94 0.48N/A 0.26 1.08 0.36N/A
Toledo El. 6.09US 6.21CA 6.69US 6.85CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.05 0.87 -0.15 0.24
CAD $/bu 6.78 7.59 6.57 8.36
CAD $/tonne 248.96 279.04 241.44 307.04
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
Bayport Wheat 290.00 - 295.00
Bayport Oats 310.00
Bayport Barley 285.00
FOB Hm Soymeal 362.01 - 363.11
DDG's FOB Srn, Wndr, Aylm 223.00 - 240.00
Wednesday November 16, 2011
Commodity Period Price Weekly Movement - Wednesday to Friday
Corn CBOT Dec. 6.428 ↑ 0.75 cents
Soybeans CBOT Nov. 11.720 ↑ 6.00 cents
Wheat CBOT Dec. 6.168 ↑ 3.75 cents
Wheat Minn. Mar 8.900 ↑ 16.00 cents
Wheat Kansas Dec. 6.870 ↓ 4.00 cents
Canadian $ Dec. 0.980 ↓ 63.00 points
Mario Monti, Italy’s new prime minister, unveiled his cabinet on Wednesday
and named himself as finance minister. Meanwhile France and Germany, Europe’s
economic powerhouse, clashed on the role of the European Central Bank (ECB).
With the French seeing investors charging a risk premium to hold French debt
rather than the safe haven 10 year German bonds is unfair and pleaded for more
ECB intervention to buffer markets. In the German’s point of view such
intervention would be against EU rules. TSX market was performing slightly
higher on energy stocks as crude oil surged past the US $100 mark for the first
time in four months, while the Canadian dollar slipped on euro zone contagion
fears.
CORN
Corn prices dropped under pressure after Japan confirmed earlier that it made
its biggest purchase of European grain in at least a decade, seeking a cheaper
alternative to US corn supplies. Japan, the world largest corn importer,
purchased 800,000 MT of corn from Ukraine, after it removed export tax last
month. According to the president of Continental Rice Corp in Japan the
purchases were at prices approximately $20 US a ton cheaper than US corn.
SOYBEANS
Soybean futures rallied earlier this week on speculation that China would be
purchasing US soybeans. This later took place with China purchasing six cargoes,
equivalent to around 500,000 MT of US soybeans. The purchase is partly to
replenish China’s depleted reserves and also due to attractive prices of
commodities on the international market amid concerns over a potential global
economic downturn.
WHEAT
Wheat dropped in Chicago as harvests in Australia and Argentina may add to
global supply and as rains boost yield prospects in parts of the US. According
to the Grain Industry Association of Western Australia, wheat production may
increase to 9.24 million MT, more than the 9.12 million tons expected last
month. Rains in Argentina may also help farmers accelerate planting, easing the
global shortage and pushing prices lower.
Harvest contract prices for November 16, 2011 at close, are as follows:
SWW at $231.26 per tonne ($6.29/bu.), SRW at $231.26 per tonne ($6.29/bu.),
HRW at $263.14 per tonne ($7.16 /bu.), and HRS at $352.47 per tonne ($9.59
/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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