[Farmmarketnews] Wednesday Ontario Commodity Report & Ahmed Chilmeran Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Nov 30 15:51:50 EST 2011
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, November 30
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.0197 down 0.0099
Chicago corn closed slightly higher.
MAR12 HI 6.16 DEC12 HI 5.60
LOW 5.95 LOW 5.42
CLOSE6.08 Up 2 1/2 CLOSE 5.52 Up 2
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +MAR12+MAR12+MAY12
CK Low -0.37 5.71 224.79 -0.55 4.97 195.66
CK High -0.35 5.73 225.58 -0.50 5.02 197.63
CK Avg -0.35 -0.49 5.73 225.45 -0.51 -0.64 5.01 197.30
Essex Cty -0.35 5.73 225.58 -0.50 5.02 197.63
Mdsx Low -0.35 5.73 225.58 -0.50 5.02 197.63
Mdsx High -0.35 5.73 225.58 -0.50 5.02 197.63
Mdsx Avg -0.35 -0.49 5.73 225.58 -0.50 -0.63 5.02 197.63
Hensall -0.40 5.68 223.61 -0.50 5.02 197.63
Bruce -0.35 5.73 225.58 -0.50 5.02 197.63
Putnam -0.35 5.73 225.58 -0.50 5.02 197.63
Princeton -0.35 5.73 225.58 -0.50 5.02 197.63
Durham -0.40 5.68 223.61 -0.55 4.97 195.66
Norfolk -0.35 5.73 225.58 -0.50 5.02 197.63
Palmerston -0.45 5.63 221.64 -0.50 5.02 197.63
Varna -0.40 5.68 223.61 -0.50 5.02 197.63
Trenton -0.30 5.78 227.55 -0.55 4.97 195.66
Winchester -0.35 5.73 225.58 -0.50 5.02 197.63
North Gower -0.48 5.60 220.46 -0.42 5.10 200.78
Huron FOB -0.13 5.95 234.24 -0.50 5.02 197.63
Kent FOB -0.35 5.73 225.58 -0.50 5.02 197.63
Lamb FOB -0.35 5.73 225.58 -0.50 5.02 197.63
Mdsx FOB -0.30 -0.20 -0.15N/A 5.78 227.55 -0.50 5.02 197.63
FOB SW Que 0.00 6.08 239.36 -0.05 5.47 215.34
Track 0.15 6.23 245.26N/A
PROCESSORS
Chat-Eth N/A N/A N/A N/A -0.50 5.02 197.63
Jhnstwn-Eth -0.25 -0.10 -0.05 -0.05 5.83 229.52 -0.25 5.27 207.47
Aylmer-Eth -0.05 0.05 0.10 0.05 6.03 237.39 N/A
Sarn-Eth 0.00 0.05 0.10 0.05 6.08 239.36N/A
Cllngwd-Eth 0.10N/A N/A N/A 6.18 243.30-0.30* 5.22 205.50
London-Cas 0.00 0.05 0.10 0.10 6.08 239.36 -0.30 5.22 205.50
Pt.Colb-Cas 0.00 0.10 0.15 0.15 6.08 239.36 -0.25 5.27 207.47
Cardnl-Cas -0.35 0.10 0.15 0.15 5.73 225.58 -0.25 5.27 207.47
W O Feed 0.19 0.17 6.27 247.00
US Rep 0.70 0.68 6.78 266.92
Toledo El. -0.05 6.03 237.35 -0.54 4.98 195.97
TRANSFER
Sarnia N/A N/A
Pt. Stanley N/A N/A
Hamilton -0.08 6.00236 1/5 -0.27 5.25206 2/3
MID SD CRN -0.36 5.72
HI SD CRN -0.35 5.73
*Wet Bid
Bank of Canada Noon exchange rate was 1.0197 down 0.0099
Chicago soybeans closed slightly higher.
JAN12 HI 11.46 NOV12 HI 11.61 1/2
LOW 11.11 1/2 LOW 11.27 1/2
CLOSE11.31 1/4 Up 6 1/4 CLOSE 11.46 3/4 Up 5 3/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +MAR1+MAR1+MAY12
CK Low -0.69 10.62 390.31-0.84 10.63 390.49
CK High -0.55 10.76 395.45-0.70 10.77 395.64
CK Average -0.62 -0.8810.69 392.82-0.77-1.0410.70 393.00
Essex Cty -0.45 10.86 399.13-0.75 10.72 393.80
Mdsx Low -0.70 10.61 389.94-0.85 10.62 390.13
Mdsx High -0.55 10.76 395.45-0.70 10.77 395.64
Mdsx Average -0.63 -0.8810.69 392.70-0.78-1.0410.69 392.88
Hensall -0.68 10.64 390.86-0.83 10.64 391.04
Bruce -0.60 10.71 393.62-0.70 10.77 395.64
Putnam -0.50 10.81 397.29-0.70 10.77 395.64
Princeton -0.70 10.61 389.94-0.85 10.62 390.13
Durham -0.73 10.58 388.84-0.88 10.59 389.02
Norfolk -0.59 10.72 393.98-0.78 10.69 392.70
Palmerston -0.80 10.51 386.27-0.95 10.52 386.45
Varna -0.65 10.66 391.78-0.80 10.67 391.96
Trenton -0.65 10.66 391.78-0.75 10.72 393.80
Winchester -0.63 10.68 392.51-0.83 10.64 390.86
North Gower -0.62 10.69 392.88 N/A
Huron FOB -0.50 10.81 397.29-0.90 10.57 388.29
Kent FOB -0.64 10.67 392.15-0.84 10.63 390.49
Lambton FOB -0.64 10.67 392.15-0.84 10.63 390.49
Middlesex FOB-0.39-0.54-0.50 N/A 10.92 401.33-0.74 10.73 394.17
PROCESSORS
Hamilton -0.10-0.15-0.20-0.20 11.21 411.99-0.30 11.17 410.34
Windsor -0.23-0.16-0.21-0.15 11.08 407.21-0.30 11.17 410.34
Winchester -0.43 10.88 399.86-0.58 10.89 400.05
TRANSFER
Hamilton 0.10 N/A N/A N/A 11.41 419.34-0.25 11.22 412.17
Pt. Stanley -0.35 10.96 402.80-0.75 10.72 393.80
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC 0.50 11.81 434.040.15 11.62 426.87
Toledo El. -0.29 11.03 405.14-0.59 10.87 399.55
Bank of Canada Noon exchange rate was 1.0197 down 0.0099
Chicago wheat closed slightly lower.
MAR12 HI 6.29 1/4 JUL12 HI 6.56 1/2
LOW 6.07 LOW 6.34 3/4
CLOSE 6.14 Down 2 CLOSE 6.43 Down 3/4
Minni wheat closed moderately lower.
MAR12 HI 8.50 SEP12 HI 8.05 1/2
LOW 8.19 3/4 LOW 7.78 1/4
CLOSE 8.23 1/2 Down 10 CLOSE 7.80 1/4 Down 11 3/4
GFO Cash Wheat Prices - DEL Terminal
Current Crop 11 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.07 0.80 0.19 0.34
CAD $/bu 6.07 6.94 6.33 8.57
CAD $/tonne 223.19 255.13 232.58 315.06
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 0.40 -0.10 N/A N/A 0.45 -0.25 N/A
London -0.32 0.50 -0.21 N/A N/A 0.46 -0.31 N/A
Hensall -0.20 N/A -0.20 N/A 0.00 N/A -0.25 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 -0.13 N/A N/A N/A -0.30 N/A
Norwich -0.20 N/A -0.20 N/A 0.00 N/A -0.25 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 -0.20 N/A 0.00 N/A -0.25 N/A
Chatham N/A 0.39 -0.11 N/A N/A 0.49 -0.33 N/A
Brigden N/A 0.39 -0.11 N/A N/A 0.49 -0.33 N/A
Palmerston N/A 0.84 -0.20 -0.02 N/A 0.54 -0.29 0.20
Varna -0.15 0.70 -0.15 N/A 0.20 0.80 -0.25 N/A
Mitchell -0.20 0.60 -0.20 N/A 0.00 0.70 -0.25 N/A
Thornton N/A N/A N/A -0.48 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 0.15 N/A N/A N/A -0.10 N/A
Pt. Stanley N/A N/A -0.30 N/A N/A N/A -0.55 N/A
PROCESSORS
Toledo FM N/A 0.75 0.29N/A 0.25 1.07 0.35N/A
Toledo El. 5.89US 6.02CA 6.40US 6.55CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.05 0.86 -0.16 0.23
CAD $/bu 6.48 7.29 6.27 8.03
CAD $/tonne 237.97 268.04 230.45 295.20
(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 295.00
Bayport Barley 288.00
FOB Hm Soymeal 351.86 - 356.27
DDG's FOB Srn, Wndr, Aylm 170.00 - 210.00
Wednesday November 30, 2011
Commodity Period Price Weekly Movement - Wednesday to Friday
Corn CBOT Dec. 6.0125 ↑ 12.50 cents
Soybeans CBOT Jan 11.3125 ↓ 23.75 cents
Wheat CBOT Dec. 5.9575 ↑ 21.00 cents
Wheat Minn. Mar 8.2350 ↑ 17.25 cents
Wheat Kansas Dec. 6.5100 ↑ 8.50 cents
Canadian $ Dec. 0.9798 ↑ 252.00 points
Canada’s central bank among others like the US Federal Reserve, the European
Central Bank, and the central banks of Japan, Britain, and Switzerland joined
forces on Wednesday upon a dire request from EU ministers to provide cheaper
liquidity to European banks facing a credit crunch in hopes of dodging a blow
that may offset a financial meltdown. The move is reminiscent of the the 2008
financial crisis after the collapse of Lehman Brothers. Italy is now a center
piece of the euro debt crisis and have been squeezed particularly hard as Rome's
borrowing costs have soared towards an unsustainable 8%. This saw the resource
heavy TSX on route for the biggest jump since early October with mere 2.5%.
China's central bank on the other hand moved to ease credit by cutting reserve
requirements to free up funds for lending to cash strapped small businesses as
China's economic growth continues to feel the sluggish pace for three straight
quarters. The loonie hit its highest mark in more than two weeks against its US
counterpart due to stronger than expected domestic growth data and the joint
move by the major central banks.
CORN
Corn fell in Chicago, extending a monthly decline, as Morgan Stanley forecast
put pressure on prices next year from higher South American exports. Lower
prices in the first half of the coming year may encourage China, the world’s
second largest corn user; to boost imports according to Australia & New Zealand
Banking Group Ltd. Southwestern Ontario corn harvested this fall has seen
variable levels of vomitoxin, and as such producers will find out more about
what the tolerance levels are at various delivery points, such as local
elevators and mills.
SOYBEANS
Soybean fell in Chicago following a positive blip on Tuesday on news of funding
to European banks from world major central banks. Soybean exports and crushing
in the US declined 22% in September and October compared with a year earlier as
competition from South America saw buyers shift to purchasing stockpiles from
Argentina and Brazil. According to a recent report by World Oil, exports and use
in Argentina surged 15% and disposals in Brazil rose 21%. Soybeans futures have
dropped 20% this year, partly on declining demand for raw materials used to make
food amid economic crises in the EU and US.
WHEAT
Wheat futures eased on Wednesday in Chicago amid renewed fears of the European
financial crisis. According to Morgan Stanley, Russia’s high protein wheat
supply has begun to fade, owing to high volumes shipped to milling customers
such as Egypt, while heavy rains in Australia may cause damage to the future
supplies. This in turn may provide a market opportunity for North American
wheat.
Harvest contract prices for November 30, 2011 at market close, are as follows:
SWW at $226.89 per tonne ($6.17/bu.), SRW at $$226.89 per tonne ($6.17/bu.),
HRW at $259.14 per tonne ($7.05 /bu.), and HRS at $321.93 per tonne ($8.76
/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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