[Farmmarketnews] Wednesday Ontario Commodity Report & Ahmed Chilmeran Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Oct 5 15:58:54 EDT 2011
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, October 5
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.0449 down 0.0155
Chicago corn closed higher.
DEC11 HI 6.07 1/2 DEC11 HI 6.07 1/2
LOW 5.91 LOW 5.91
CLOSE6.05 1/2 Up 17 3/4 CLOSE 6.05 1/2 Up 17 3/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +DEC11+MAR12+MAR12
CK Low 0.50 6.56 258.06 -0.35 5.71 224.60
CK High 0.50 6.56 258.06 -0.35 5.71 224.60
CK Avg 0.50 0.23 6.56 258.06 -0.35 -0.63 5.71 224.60
Essex Cty N/A N/A
Mdsx Low 0.50 6.56 258.06 -0.35 5.71 224.60
Mdsx High 0.50 6.56 258.06 -0.35 5.71 224.60
Mdsx Avg 0.50 0.23 6.56 258.06 -0.35 -0.63 5.71 224.60
Hensall 0.48 6.53 257.07 -0.35 5.71 224.60
Bruce 0.50 6.56 258.06 -0.35 5.71 224.60
Putnam N/A -0.35 5.71 224.60
Princeton N/A N/A
Durham 0.50 6.56 258.06 -0.40 5.66 222.63
Norfolk N/A -0.35 5.71 224.60
Palmerston N/A -0.35 5.71 224.60
Varna 0.60 6.66 262.00 -0.35 5.71 224.60
Trenton 0.35 6.41 252.15 -0.35 5.71 224.60
Winchester 0.35 6.41 252.15 -0.35 5.71 224.60
North Gower 0.80 6.86 269.87 -0.35 5.71 224.60
Huron FOB 0.40 6.46 254.12 -0.40 5.66 222.63
Kent FOB N/A -0.35 5.71 224.60
Lamb FOB N/A -0.35 5.71 224.60
Mdsx FOB 0.50 -0.35 -0.35 -0.30 6.56 258.06 -0.35 5.71 224.60
FOB SW Que N/A -0.20 5.86 230.50
Track 0.83 6.88 270.85N/A
PROCESSORS
Chat-Eth N/A N/A N/A N/A N/A
Jhnstwn-Eth N/A N/A -0.45 -0.30 N/A
Aylmer-Eth 0.50 -0.25 -0.25 -0.25 6.56 258.06 -0.25 5.81 228.53
Sarn-Eth -0.10 -0.30 -0.20 -0.10 5.96 234.44 -0.30 5.76 226.56
Cllngwd-Eth -0.25N/A N/A N/A 5.81 228.530.00* 6.06 238.37
London-Cas N/A N/A -0.30 -0.40 N/A
Pt.Colb-Cas -0.30N/A -0.55 -0.35 5.76 226.56 -0.30 5.76 226.56
Cardnl-Cas -0.30N/A -0.70 -0.35 5.76 226.56 -0.30 5.76 226.56
W O Feed 0.92 0.87 6.98 274.59
US Rep 0.70 0.65 6.76 265.93
Toledo El. 0.07 6.13 241.26 -0.19 5.87 230.96
TRANSFER
Sarnia N/A N/A
Pt. Stanley N/A -0.32 5.74225 7/9
Hamilton N/A -0.27 5.79227 3/4
MID SD CRN -0.35 5.70 1/2
HI SD CRN -0.35 5.70 1/2
*Wet Bid
Bank of Canada Noon exchange rate was 1.0449 down 0.0155
Chicago soybeans closed slightly higher.
NOV11 HI 11.74 NOV12 HI 11.91 3/4
LOW 11.61 LOW 11.80
CLOSE11.63 3/4 Up 3 3/4 CLOSE 11.84 3/4 Up 4 1/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +JAN1+JAN1+MAR12
CK Low -0.55 11.09 407.40-0.55 11.30 415.11
CK High -0.52 11.12 408.50-0.42 11.43 419.89
CK Average -0.53 -1.0611.10 407.98-0.51-1.0511.34 416.58
Essex Cty N/A N/A
Mdsx Low -0.55 11.09 407.40-0.62 11.23 412.54
Mdsx High -0.45 11.19 411.07-0.50 11.35 416.95
Mdsx Average -0.50 -1.0311.14 409.23-0.56-1.1011.29 414.74
Hensall -0.48 11.16 410.15-0.50 11.35 416.95
Bruce -0.55 11.09 407.40-0.55 11.30 415.11
Putnam -0.45 11.19 411.07-0.50 11.35 416.95
Princeton N/A N/A
Durham -0.56 11.08 407.03-0.63 11.22 412.17
Norfolk -0.47 11.17 410.34-0.47 11.38 418.05
Palmerston -0.50 11.14 409.23-0.50 11.35 416.95
Varna -0.45 11.19 411.07-0.45 11.40 418.79
Trenton -0.70 10.94 401.88-0.80 11.05 405.93
Winchester -0.65 10.99 403.72-0.65 11.20 411.44
North Gower -0.45 11.19 411.07-0.65 11.20 411.44
Huron FOB -0.40 11.24 412.91-0.40 11.45 420.62
Kent FOB -0.52 11.12 408.50-0.53 11.32 415.85
Lambton FOB -0.52 11.12 408.50-0.53 11.32 415.85
Middlesex FOB-0.38-0.38-0.25-0.15 11.26 413.64-0.40 11.45 420.62
PROCESSORS
Hamilton 0.07 0.07 0.13 0.29 11.71 430.180.05 11.90 437.16
Windsor 0.51 0.00 0.10 0.15 12.15 446.34-0.17 11.68 429.07
Winchester -0.46 11.18 410.70 N/A
TRANSFER
Hamilton -0.65 N/A N/A N/A 10.99 403.72-0.65 11.20 411.44
Pt. Stanley -0.50 11.14 409.23-0.45 11.40 418.79
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC 0.20 11.84 434.950.45 12.30 451.86
Toledo El. -0.59 11.05 406.10-0.61 11.24 413.04
Bank of Canada Noon exchange rate was 1.0449 down 0.0155
Chicago wheat closed moderately higher to higher.
DEC11 HI 6.28 JUL12 HI 7.02 1/4
LOW 6.07 1/4 LOW 6.84
CLOSE 6.25 1/4 Up 21 1/4 CLOSE 6.98 3/4 Up 17
Minni wheat closed slightly to moderately higher.
DEC11 HI 8.78 1/4 SEP12 HI 7.94 3/4
LOW 8.62 3/4 LOW 7.83 3/4
CLOSE 8.76 1/2 Up 13 3/4 CLOSE 7.89 3/4 Up 5
GFO Cash Wheat Prices - DEL Terminal
Current Crop 11 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.29 0.60 -0.29 0.13
CAD $/bu 5.96 6.85 5.96 8.90
CAD $/tonne 218.99 251.63 218.99 327.00
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 0.30 -0.50 N/A N/A -0.05 -0.65 N/A
London -0.61 0.29 -0.50 N/A N/A 0.01 -0.73 N/A
Hensall -0.45 N/A -0.45 N/A -0.25 N/A -0.65 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 -0.59 N/A N/A N/A -0.85 N/A
Norwich -0.45 N/A -0.50 N/A -0.25 N/A -0.65 N/A
Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A
Kent Bridge -0.45 N/A -0.50 N/A -0.25 N/A -0.65 N/A
Chatham N/A 0.35 -0.46 N/A N/A -0.09 -0.70 N/A
Brigden N/A 0.35 -0.46 N/A N/A -0.09 -0.70 N/A
Palmerston N/A 0.50 -0.41 0.25 N/A 0.26 -0.69 0.45
Varna -0.45 0.35 -0.45 N/A -0.45 0.25 -0.75 N/A
Mitchell -0.45 0.35 -0.35 N/A -0.25 0.25 -0.65 N/A
Thornton N/A N/A N/A -0.93 N/A N/A N/A N/A
North Gower N/A N/A N/A N/A N/A N/A N/A -0.05
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 -0.30 N/A
Pt. Stanley N/A N/A -0.65 N/A N/A N/A -0.90 N/A
PROCESSORS
Toledo FM N/A 1.01 0.28N/A 0.42 1.26 0.42N/A
Toledo El. 6.02US 6.29CA 6.81US 7.12CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.10 0.53 -0.52 -0.06
CAD $/bu 6.89 7.52 6.47 7.84
CAD $/tonne 253.11 276.16 237.74 288.07
(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 305.00
Bayport Barley 280.00
FOB Hm Soymeal 363.99
DDG's FOB Srn, Wndr, Aylm 218.00 - 270.00
Wednesday October 5, 2011
Commodity
Period
Price
Weekly Movement
Corn CBOT
Dec.
6.0550
↓
25.25
cents
Soybeans CBOT
Nov.
11.6375
↓
59.75
cents
Wheat CBOT
Dec.
6.2525
↓
13.50
cents
Wheat Minn.
Dec.
8.7650
↑
15.25
cents
Wheat Kansas
Dec.
6.9975
↓
27.00
cents
Canadian $
Dec.
0.9570
↓
120.00
points
The growing prospect of a default by Greece in the coming months has evoked
fears of a major banking crisis in Europe that would aggravate the global
economic slowdown.The International Monetary Fund urged Europe to pump as much
as 200 billion euros into its banks and warned of a freeze in lending and an
ensuing recession if the region's leaders failed to do more to reassure
investors. All 27 European finance ministers agreed to safeguard their banks
amid doubts over a second Greece bailout with more banks being shut out of the
market and relied on the European Central Bank for liquidity.The decision came
after eurozone ministers postponed a vital aid payment to Greece until
mid-November. All these dynamics favoured the US dollar, which continues to gain
ground in international markets while the loonie tumbles amid economic gloom
closing at 0.94 cents US.
CORN
US stockpiles were 17% above forecast according to the USDA’s latest report,
however corn managed to advance for the first time in four days on speculation
that a 26% slump from this year’s high to yesterday’s close may attract
importers seeking to rebuild stockpiles. China, the world’s second-largest
user, may import between 5 and 10 million metric tons before the end of 2012 to
replenish corn inventories as mentioned recently in the U.S. Grains Council. In
the mean time, some of those higher consumer prices should begin to ease in the
months to come.
SOYBEANS
Soybeans futures tumbled to their lowest price in almost a year on speculation
of a faltering global economy and an accelerating US harvest boosting
supplies.Soybean futures for November delivery, the most actively traded month
dropped 1.5% to settle at $11.60/bu on the Chicago Board of Trade. The price
touched $11.52, the lowest contract since October, 2010 while oilseeds are down
17% this year.Warm, dry weather has helped Minnesota farmers make rapid progress
on the soybean harvest. According to USDA’s weekly crop weather report for
Minnesota, the soybean harvest rose to 35% complete as of Sunday. That's ahead
of last year's pace of 26% complete and the five-year average of 29%.
WHEAT
Wheat prices plummeted following the most recent USDA’s report over estimates
larger than anticipated. Wheat stockpiles were 6% larger than expected. Wheat
futures for December delivery declined 2.5% percent, to $6.04/bu in Chicago.
Warm, dry weather this week in the US Midwest may speed up the harvest, while
rain forecast for the southern Great Plains could boost winter-wheat
planting.The General Authority for Supply Commodities of Egypt (GASC), the
world’s largest buyer of grains with an estimated 5 million tonnes of bread
wheat will continue receiving supplies of wheat in 2011-2012 from Ukraine
following a previous year-over-year decline of 24.2%.
Harvest contract prices for October 5, 2011 at closing, are as follows:
SWW at $220.86 per tonne ($6.01 /bu.), SRW at $220.86 per tonne ($6.01 /bu.),
HRW at $253.49 per tonne ($6.90 /bu.), and HRS at $332.68 per tonne ($9.05
/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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