[Farmmarketnews] Wednesday Ontario Commodity Report & Ahmed Chilmeran Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Apr 25 15:54:48 EDT 2012
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, April 25
(All Bases in CAD)
Bank of Canada Noon exchange rate was 0.9848 down 0.0035
Chicago corn closed slightly to moderately lower.
MAY12 HI 6.27 1/4 DEC12 HI 5.46 3/4
LOW 6.10 1/2 LOW 5.36
CLOSE6.11 Down 7 1/4 CLOSE 5.38 Down 3 1/2
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +JUL12+JUL12+SEP12
CK Low -0.55 5.56 218.89 -0.79 4.59 180.70
CK High -0.50 5.61 220.86 -0.70 4.68 184.24
CK Avg -0.54 -0.45 5.57 219.22 -0.75 -0.67 4.63 182.34
Essex Cty -0.65 5.46 214.95 -0.80 4.58 180.31
Mdsx Low -0.55 5.56 218.89 -0.75 4.63 182.28
Mdsx High -0.55 5.56 218.89 -0.75 4.63 182.28
Mdsx Avg -0.55 -0.46 5.56 218.89 -0.75 -0.67 4.63 182.28
Hensall -0.55 5.56 218.89 -0.75 4.63 182.28
Bruce -0.55 5.56 218.89 -0.75 4.63 182.28
Putnam -0.55 5.56 218.89 -0.75 4.63 182.28
Burford -0.55 5.56 218.89 -0.75 4.63 182.28
Port Perry -0.55 5.56 218.89 -0.75 4.63 182.28
Norfolk -0.55 5.56 218.89 -0.79 4.59 180.70
Palmerston -0.55 5.56 218.89 -0.75 4.63 182.28
Varna -0.55 5.56 218.89 -0.75 4.63 182.28
Trenton -0.35 5.76 226.76 -0.75 4.63 182.28
Winchester -0.20 5.91 232.67 -0.65 4.73 186.21
North Gower -0.41 5.70 224.40 -0.76 4.62 181.88
Huron FOB -0.50 5.61 220.86 -0.75 4.63 182.28
Kent FOB -0.55 5.56 218.89 -0.79 4.59 180.70
Lamb FOB -0.55 5.56 218.89 -0.79 4.59 180.70
Mdsx FOB -0.50 -0.30 -0.25N/A 5.61 220.86 -0.75 4.63 182.28
FOB SW Que 0.05 6.16 242.51 -0.40 4.98 196.05
Track -0.15 5.96 234.63N/A
PROCESSORS
Chat-Eth N/A N/A N/A N/A -0.60 4.78 188.18
Jhnstwn-Eth N/A N/A N/A N/A -0.50 4.88 192.12
Aylmer-Eth N/A -0.40 -0.35 0.30 -0.60 4.78 188.18
Sarn-Eth N/A -0.25 -0.25 0.50 N/A
Cllngwd-Eth N/A -0.10N/A N/A -0.30* 5.08 199.99
London-Cas N/A N/A N/A 0.55 -0.50 4.88 192.12
Pt.Colb-Cas N/A N/A N/A 0.60 -0.45 4.93 194.09
Cardnl-Cas N/A N/A 0.15 0.60 -0.45 4.93 194.09
W O Feed -0.03 -0.02 6.08 239.36
US Rep 0.65 0.66 6.76 266.13
Toledo El. 0.07 6.18 243.25 -0.33 5.05 199.00
TRANSFER
Sarnia N/A N/A
Pt. Stanley N/A N/A
Hamilton -0.20 5.91232 2/3 -0.50 4.88192 1/9
MID SD CRN -0.52 1/2 5.58 1/2 -0.74 1/2 4.63 1/2
HI SD CRN -0.50 5.61 -0.70 4.68
*Wet Bid
Bank of Canada Noon exchange rate was 0.9848 down 0.0035
Chicago soybeans closed slightly to moderately higher.
MAY12 HI 14.93 NOV12 HI 13.71 1/2
LOW 14.61 LOW 13.50
CLOSE14.73 1/2 Up 12 1/4 CLOSE 13.70 1/2 Up 18 1/2
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +MAY1+JUL1+JUL12
CK Low -1.07 13.67 502.10-1.10 12.61 463.15
CK High -1.02 13.72 503.94-1.00 12.71 466.83
CK Average -1.04 -0.8213.69 503.08-1.07-0.8712.63 464.20
Essex Cty -0.86 13.88 509.82-0.87 12.84 471.61
Mdsx Low -1.05 13.69 502.84-1.10 12.61 463.15
Mdsx High -1.00 13.74 504.67-1.05 12.66 464.99
Mdsx Average -1.03 -0.8013.71 503.76-1.08-0.8712.63 464.07
Hensall -1.03 13.71 503.76-1.08 12.63 464.07
Bruce -1.05 13.69 502.84-1.00 12.71 466.83
Putnam -1.05 13.69 502.84-1.10 12.61 463.15
Burford -0.97 13.77 505.78-1.02 12.69 466.09
Port Perry -1.03 13.71 503.57-1.08 12.63 463.89
Norfolk -1.03 13.71 503.57-1.05 12.66 464.99
Palmerston -0.95 13.79 506.51-1.00 12.71 466.83
Varna -0.95 13.79 506.51-1.00 12.71 466.83
Trenton -1.10 13.64 501.00-1.00 12.71 466.83
Winchester -1.08 13.66 501.74-0.95 12.76 468.67
North Gower -1.09 13.65 501.37-0.83 12.88 473.08
Huron FOB -0.90 13.84 508.35-0.95 12.76 468.67
Kent FOB -1.07 13.67 502.10-1.10 12.61 463.15
Lambton FOB -1.07 13.67 502.10-1.10 12.61 463.15
Middlesex FOB-0.84-0.84-0.89-0.89 13.90 510.55-0.80 12.91 474.18
PROCESSORS
Hamilton -0.55-0.50-0.50-0.45 14.19 521.21-0.45 13.26 487.04
Windsor -0.63-0.63-0.58-0.56 14.11 518.27-0.64 13.07 480.06
Winchester -0.90 13.84 508.35-0.78 12.93 474.91
TRANSFER
Hamilton -0.45 N/A N/A N/A 14.29 524.88-0.35 13.36 490.71
Pt. Stanley N/A N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC -0.17 14.57 535.17-0.10 13.61 499.90
Toledo El. -0.25 14.49 532.37-0.33 13.38 491.63
Bank of Canada Noon exchange rate was 0.9848 down 0.0035
Chicago wheat closed slightly lower.
MAY12 HI 6.33 3/4 JUL12 HI 6.42
LOW 6.15 LOW 6.24
CLOSE 6.16 1/2 Down 8 CLOSE 6.26 1/2 Down 6
Minni wheat closed slightly higher.
JUL12 HI 7.91 1/2 SEP12 HI 7.87
LOW 7.71 1/4 LOW 7.70
CLOSE 7.86 Up 3/4 CLOSE 7.81 1/2 Up 3/4
GFO Cash Wheat Prices - DEL Terminal
Current Crop 11 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.19 0.55 -0.09 -0.61
CAD $/bu 5.97 6.71 6.07 7.25
CAD $/tonne 219.51 246.66 223.13 266.38
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 N/A -0.55 N/A N/A 0.10 -0.55 N/A
London -0.54 0.10 -0.54 N/A -0.09 0.11 -0.63 N/A
Hensall -0.55 N/A -0.55 N/A 0.05 N/A -0.55 N/A
Trenton N/A N/A N/A N/A N/A N/A -0.55 N/A
Winchester N/A N/A N/A N/A N/A N/A N/A -0.38
Essex N/A N/A -0.73 N/A N/A N/A -0.68 N/A
Norwich -0.55 N/A -0.55 N/A 0.05 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 -0.55 N/A -0.55 N/A 0.05 N/A -0.55 N/A
Chatham N/A N/A N/A N/A N/A 0.04 -0.69 N/A
Brigden N/A N/A N/A N/A N/A 0.04 -0.69 N/A
Palmerston N/A 0.23 -0.56 -0.44 N/A 0.23 -0.56 -0.77
Varna -0.40 0.20 -0.50 N/A 0.05 0.35 -0.50 N/A
Mitchell -0.55 -0.05 -0.55 N/A 0.05 0.25 -0.55 N/A
Thornton N/A N/A N/A -1.01 N/A N/A N/A N/A
North Gower N/A N/A N/A N/A N/A N/A N/A -0.40
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 -0.15 N/A
Pt. Stanley N/A N/A N/A N/A N/A N/A N/A N/A
PROCESSORS
Toledo FM N/A N/A 0.10N/A 0.45 0.89 0.25N/A
Toledo El. 6.21US 6.11CA 6.34US 6.24CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.05 0.60 -0.19 -0.56
CAD $/bu 6.32 6.86 6.07 7.25
CAD $/tonne 232.18 252.09 223.13 266.57
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
Bayport Wheat 305.00 - 310.00
Bayport Oats 325.00
Bayport Barley 305.00
FOB Hm Soymeal 468.71 - 473.12
DDG's FOB Srn, Wndr, Aylm 200.00 - 240.00
Wednesday April 25, 2012
Commodity Period Price Weekly Movement - Wednesday to Friday
Corn CBOT May 6.1650 ↑ 9.25 cents
Soybeans CBOT May 14.7350 ↑ 65.25 cents
Wheat CBOT May 6.1650 ↑ 5.75 cents
Wheat Minn. July 7.8600 ↓ 15.00 cents
Wheat Kansas May 6.3200 ↑ 6.00 cents
Canadian $ June 1.0150 ↑ 76.00 points
The UK economy looks like it’s on its way to a recession as the statistics
from the past two consecutive quarters suggest. The economy shrank by 0.3% in
the fourth quarter of 2011, and by 0.2% in the first three months of 2012. The
US Federal Reserve indicated it will leave interest rates on hold until at least
the end of 2014. The Fed described the economy as growing moderately while
unemployment rate had declined it remains of high concern. US inflation was
largely attributed to a spike in energy costs and will impact price growth in
the short run. Economists at Scotia Bank Capital indicated there is plenty of
evidence that house debt growth in Canada is slowing despite worries to the
contrary. The inflation adjusted Canadian mortgage debt growth is increasing at
a diminishing rate at a pace similar to that of the weakness experienced in the
1990’s. They suggest that the Bank of Canada should maintain low interest
rates for the time being.
CORN
Corn futures were expected to open higher Wednesday on the back of soaring
soybeans and export sales of corn to China however, corn was firm for the most
part. The USDA indicated that exporters had sold 682,500 tonnes of American corn
with 262,500 tonnes headed for China, the remaining amount is speculated to be
also heading east. Ontario acres are expected to be 2.24 million acres, so far
there is approximately 30-40% planted.
SOYBEANS
Soybean initially rose in Chicago supported by tight supplies after a severe
drought curbed Argentinian grain forecasts. Soybeans rose to their highest in
almost four years on Wednesday, building on the previous session's rally on
expectations of strong demand for US soybeans after cuts in forecasts for South
American crops. Expected acreage in Ontario could reach 2.5 million acres, which
would surpass the record acreage in 2010.
WHEAT
Wheat slightly edged upwards in Chicago. Canadian farmers will plant nearly a
million acres more wheat than anticipated in the first year of an open grain
market, according to Statistics Canada. Drier weather in Western Canada,
stretching back to last summer, brought millions of previously flooded acres
back into production this spring, lifting crop planting. Wheat plantings may
rise in the region of 13% in Canada this year. There has been some Ontario
winter wheat acres that have been sacrificed in favour of planting corn or
soybean especially for wheat planted in tough conditions and heavier soils.
Contract prices for April 25th, 2012 at close, are as follows:
SWW at $219.55 per tonne ($5.98/bu.), HRW at $246.70 per tonne ($6.71 /bu.),
HRS at $270.78 per tonne ($7.37 /bu.), and SRW at $223.17 per tonne ($6.07
/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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