[Farmmarketnews] Wednesday Ontario Commodity Report & Ahmed Chilmeran Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Sep 28 16:11:50 EDT 2011
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, September 28
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.0225 up 0.0034
Chicago corn closed lower.
DEC11 HI 6.50 3/4 DEC11 HI 6.50 3/4
LOW 6.28 3/4 LOW 6.28 3/4
CLOSE6.30 3/4 Down 21 1/2 CLOSE 6.30 3/4 Down 21
1/2
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +DEC11+DEC11+MAR12
CK Low 0.15 6.46 254.22 -0.45 5.86 230.60
CK High 0.35 6.66 262.09 -0.40 5.91 232.57
CK Avg 0.23 0.01 6.54 257.37 -0.42 -0.66 5.89 231.78
Essex Cty N/A N/A
Mdsx Low 0.15 6.46 254.22 -0.45 5.86 230.60
Mdsx High 0.25 6.56 258.16 -0.40 5.91 232.57
Mdsx Avg 0.20 -0.02 6.51 256.19 -0.43 -0.67 5.88 231.58
Hensall 0.25 6.56 258.16 -0.40 5.91 232.57
Bruce 0.25 6.56 258.16 -0.40 5.91 232.57
Putnam 0.25 6.56 258.16 -0.40 5.91 232.57
Princeton N/A N/A
Durham 0.15 6.46 254.22 -0.50 5.81 228.63
Norfolk 0.35 6.66 262.09 -0.40 5.91 232.57
Palmerston N/A -0.40 5.91 232.57
Varna 0.05 6.36 250.28 -0.45 5.86 230.60
Trenton 0.15 6.46 254.22 -0.40 5.91 232.57
Winchester 0.15 6.46 254.22 -0.35 5.96 234.54
North Gower 0.60 6.91 271.94 -0.50 5.81 228.63
Huron FOB 0.45 6.76 266.03 -0.45 5.86 230.60
Kent FOB 0.35 6.66 262.09 -0.40 5.91 232.57
Lamb FOB 0.35 6.66 262.09 -0.40 5.91 232.57
Mdsx FOB 0.15 -0.45 -0.45 -0.40 6.46 254.22 -0.45 5.86 230.60
FOB SW Que N/A -0.25 6.06 238.47
Track 0.70 7.01 275.87N/A
PROCESSORS
Chat-Eth N/A N/A N/A N/A N/A
Jhnstwn-Eth N/A N/A N/A -0.45 N/A
Aylmer-Eth N/A 0.50 -0.25 -0.25 -0.25 6.06 238.47
Sarn-Eth N/A -0.10 -0.30 -0.20 -0.10 6.21 244.38
Cllngwd-Eth 0.50N/A N/A N/A 6.81 268.00-0.20* 6.11 240.44
London-Cas N/A N/A N/A -0.40 N/A
Pt.Colb-Cas N/A -0.35N/A -0.45 -0.35 5.96 234.54
Cardnl-Cas N/A -0.35N/A -0.70 -0.35 5.96 234.54
W O Feed 0.80 0.78 7.11 279.81
US Rep 0.70 0.68 7.01 275.87
Toledo El. 0.07 6.38 251.17 -0.19 6.12 240.96
TRANSFER
Sarnia N/A N/A
Pt. Stanley N/A -0.39 5.92233
Hamilton N/A -0.35 5.96234 1/2
MID SD CRN -0.42 1/2 5.88 1/4
HI SD CRN -0.40 5.90 3/4
*Wet Bid
Bank of Canada Noon exchange rate was 1.0225 up 0.0034
Chicago soybeans closed lower.
NOV11 HI 12.61 1/4 NOV12 HI 12.59 3/4
LOW 12.21 1/2 LOW 12.29 1/2
CLOSE12.23 1/2 Down 39 1/2 CLOSE 12.31 1/2 Down 30
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +NOV1+NOV1+JAN12
CK Low -0.82 11.42 419.43-0.85 11.47 421.27
CK High -0.80 11.44 420.16-0.80 11.52 423.10
CK Average -0.80 -1.2311.43 420.02-0.83-1.3011.49 422.15
Essex Cty N/A N/A
Mdsx Low -0.86 11.38 417.96-0.98 11.34 416.49
Mdsx High -0.75 11.49 422.00-0.80 11.52 423.10
Mdsx Average -0.81 -1.2311.43 419.98-0.89-1.3611.43 419.80
Hensall -0.78 11.46 421.08-0.80 11.52 423.10
Bruce -0.80 11.44 420.16-0.85 11.47 421.27
Putnam -0.75 11.49 422.00 N/A
Princeton N/A N/A
Durham -0.87 11.37 417.59-0.99 11.33 416.12
Norfolk -0.75 11.49 422.00-0.75 11.57 424.94
Palmerston -0.80 11.44 420.16-0.80 11.52 423.10
Varna -0.80 11.44 420.16-0.80 11.52 423.10
Trenton -1.05 11.19 410.98-1.10 11.22 412.08
Winchester -1.00 11.24 412.82-1.04 11.28 414.29
North Gower -0.70 11.54 423.84-0.85 11.47 421.27
Huron FOB -0.60 11.64 427.51-0.70 11.62 426.78
Kent FOB -0.80 11.44 420.16-0.81 11.51 422.74
Lambton FOB -0.80 11.44 420.16-0.81 11.51 422.74
Middlesex FOB-0.62-0.62-0.62 N/A 11.62 426.78-0.82 11.50 422.37
PROCESSORS
Hamilton 0.30 -0.25-0.25-0.10 12.54 460.58-0.25 12.07 443.31
Windsor 0.01 -0.37-0.18-0.09 12.25 449.93-0.35 11.97 439.64
Winchester -0.94 11.30 415.02 N/A
TRANSFER
Hamilton -0.25 N/A N/A N/A 11.99 440.37-0.15 12.17 446.99
Pt. Stanley -0.70 11.54 423.84-0.60 11.72 430.45
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC -0.12 12.12 445.15-0.20 12.12 445.15
Toledo El. -0.58 11.66 428.26-0.60 11.71 430.37
Bank of Canada Noon exchange rate was 1.0225 up 0.0034
Chicago wheat closed moderately lower to lower.
DEC11 HI 6.57 1/2 JUL12 HI 7.09 1/2
LOW 6.35 LOW 6.89 3/4
CLOSE 6.38 3/4 Down 19 1/2 CLOSE 6.91 3/4 Down 20 1/4
Minni wheat closed slightly to moderately lower.
DEC11 HI 8.71 1/2 SEP12 HI 8.11 1/4
LOW 8.50 LOW 7.98
CLOSE 8.61 1/4 Down 8 CLOSE 7.98 Down 17 3/4
GFO Cash Wheat Prices - DEL Terminal
Current Crop 11 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.29 0.59 -0.29 0.20
CAD $/bu 6.09 6.97 6.09 8.81
CAD $/tonne 223.92 256.25 223.92 323.76
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 0.00 -0.75 N/A N/A -0.25 -0.95 N/A
London -0.71 -0.01 -0.76 N/A N/A -0.18 -1.04 N/A
Hensall -0.85 N/A -0.70 N/A -0.45 N/A -0.95 N/A
Trenton N/A N/A -0.55 N/A N/A N/A -1.00 N/A
Winchester N/A N/A N/A -1.00 N/A N/A N/A N/A
Essex N/A N/A -0.79 N/A N/A N/A -1.05 N/A
Norwich -0.75 N/A -0.70 N/A -0.45 N/A -0.95 N/A
Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A
Kent Bridge -0.85 N/A -0.70 N/A -0.45 N/A -0.95 N/A
Chatham N/A 0.00 -0.70 N/A N/A -0.26 -0.94 N/A
Brigden N/A 0.00 -0.70 N/A N/A -0.26 -0.94 N/A
Palmerston N/A 0.29 -0.57 0.05 N/A 0.10 -0.82 0.37
Varna -0.65 0.15 -0.65 N/A -0.45 0.05 -0.95 N/A
Mitchell -0.85 0.10 -0.65 N/A -0.45 0.00 -0.90 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 -0.40 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 -0.25 N/A N/A N/A -0.45 N/A
Pt. Stanley N/A N/A -0.75 N/A N/A N/A -0.90 N/A
PROCESSORS
Toledo FM N/A 0.74 0.22N/A 0.37N/A 0.06N/A
Toledo El. 6.11US 6.32CA 6.64US 6.89CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.15 0.47 -0.56 -0.11
CAD $/bu 6.77 7.39 6.35 7.87
CAD $/tonne 248.68 271.57 233.42 289.22
(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 300.00
Bayport Barley 280.00
FOB Hm Soymeal 376.89
DDG's FOB Srn, Wndr, Aylm 220.00 - 270.00
Wednesday September 28, 2011
Commodity Period Price Weekly Movement
Corn CBOT Dec. 6.308 ↓ 18.00 cents
Soybeans CBOT Nov. 12.235 ↓ 42.50 cents
Wheat CBOT Dec. 6.388 ↓ 4.25 cents
Wheat Minn. Dec. 8.613 ↑ 24.00 cents
Wheat Kansas Dec. 7.268 ↑ 0.25 cents
Canadian $ Dec. 0.969 ↓ 31.00 points
Finland's parliament approved changes to the European Financial Stability
Facility (EFSF) on Wednesday with a guarantee of €13.97 billion instead of the
€7.9 billion initially proposed. The EFSF, Europe’s temporary bailout fund
which will act as a safety net to member states that don’t have a bailout
program through a flow of credit lines will sit on top of €440 instead of €250.
In addition, the European Union proposed a financial transactions tax on stocks,
bonds and derivatives that would take effect in 2014 and raise about €57 billion
a year. The latter sparked an opposing UK treasury response suggesting that such
levy would need to be applied globally among other practical issues. All these
dynamics left the Canadian dollar weaker and closer to its US counterpart as the
euro zone sorts through its difficulties.
CORN
Corn prices declined from this year’s high in June by 18% according to the
UN’s Food and Agricultural Organization. Investors sold on concern that the
global recovery was faltering. The decline helped ease near-record food prices,
curbing inflationary pressures as governments seek to boost growth. The Morgan
Stanley report indicated that U.S. stockpiles declined to 882 million bushels as
of Sept. 1, about 38 million bushels less than the USDA’s latest estimate.
That would be the smallest total for a period since 1995, and down from 1.7
billion bushels a year ago according to USDA data.
SOYBEANS
Soybean market didn’t escape the poor economic performance and concerns over
financial conditions in the euro zone and the US. Prices continued a downward
trend with November CME futures $2 lower on Sept. 26 since a peak of $14.65/bu.
on the last day of August. Harvesting of soybeans began in Minnesota with an
estimated 3% harvested compared with 6% last year, and a 9% average according to
the USDA weekly crop weather report. The extent of market conditions on prices
will show in USDA’s stocks report later this week and a crop production update
in mid-October. USDA’s soybean stocks were last estimated at 225 million
bushel for the fiscal year.
WHEAT
Wheat futures weakened dropping to a two-day low amid easing concerns over
global crop conditions, while euro zone issues added to selling pressure. Russia
is poised to again become the world’s second-biggest wheat exporter as the
nation’s largest grain port raises shipping capacity by as much as 67% in four
years. This news comes after a one-year ban on grain exports expired on July 1
as a result of the worst drought in Russia in half a century. The recent drought
wiped 37% of wheat crops in 2010-11. Anticipated increase in exports may weigh
in on demand for US supplies, which are the world's third largest wheat producer
and biggest exporter.
Harvest contract prices for September 28, 2011 at closing, are as follows:
SWW at $223.03 per tonne ($6.07 /bu.), SRW at $223.03 per tonne ($6.07 /bu.),
HRW at $255.24 per tonne ($6.95 /bu.), and HRS at $322.48 per tonne ($8.78
/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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