[Farmmarketnews] Wednesday Ontario Commodity Report & Ahmed Chilmeran Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Aug 1 16:03:20 EDT 2012
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, August 1
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.0017 up 0.0003
Chicago corn closed slightly lower.
SEP12 HI 8.18 DEC12 HI 8.16 3/4
LOW 7.82 1/4 LOW 7.81 1/4
CLOSE8.00 1/2 Down 6 CLOSE 8.00 1/2 Down 4
3/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +SEP12+DEC12+DEC12
CK Low -0.30 7.71 303.33 -0.65 7.36 289.55
CK High -0.15 7.86 309.24 -0.60 7.41 291.52
CK Avg -0.20 -0.24 7.81 307.27 -0.64 -0.70 7.36 289.88
Essex Cty -0.20 7.81 307.27 -0.65 7.36 289.55
Mdsx Low -0.20 7.81 307.27 -0.70 7.31 287.59
Mdsx High -0.20 7.81 307.27 -0.70 7.31 287.59
Mdsx Avg -0.20 -0.24 7.81 307.27 -0.70 -0.76 7.31 287.59
Hensall -0.20 7.81 307.27 -0.70 7.31 287.59
Bruce -0.20 7.81 307.27 -0.75 7.26 285.62
Putnam -0.20 7.81 307.27 -0.70 7.31 287.59
Burford -0.20 7.81 307.27 -0.65 7.36 289.55
Port Perry -0.20 7.81 307.27 -0.90 7.11 279.71
Norfolk -0.15 7.86 309.24 -0.65 7.36 289.55
Palmerston -0.20 7.81 307.27 -0.80 7.21 283.65
Varna -0.20 7.81 307.27 -0.70 7.31 287.59
Trenton 0.10 8.11 319.08 -0.80 7.21 283.65
Winchester 0.25 8.26 324.98 -0.60 7.41 291.52
North Gower 0.30 8.31 326.95 -0.75 7.26 285.62
Huron FOB -0.30 7.71 303.33 -0.70 7.31 287.59
Kent FOB -0.15 7.86 309.24 -0.65 7.36 289.55
Lamb FOB -0.15 7.86 309.24 -0.65 7.36 289.55
Mdsx FOB 0.00N/A N/A N/A 8.01 315.14 -0.65 7.36 289.55
FOB SW Que 0.65 8.66 340.73 -0.40 7.61 299.40
Track 0.20 8.21 323.02N/A
PROCESSORS
Chat-Eth N/A N/A N/A N/A -0.65 7.36 289.55
Jhnstwn-Eth N/A N/A N/A N/A -0.65 7.36 289.55
Aylmer-Eth -0.30 -0.10 -0.75 -0.75 7.71 303.33 -0.75 7.26 285.62
Sarn-Eth N/A N/A -0.55 -0.55 -0.55 7.46 293.49
Cllngwd-Eth N/A N/A N/A N/A N/A*
London-Cas N/A N/A -0.35 -0.40 -0.30 7.71 303.33
Pt.Colb-Cas N/A 0.70 -0.40 -0.35 -0.30 7.71 303.33
Cardnl-Cas N/A 0.65 -0.40 -0.35 -0.30 7.71 303.33
W O Feed 0.30 0.30 8.31 326.95
US Rep 0.75 0.75 8.76 344.67
Toledo El. N/A 0.07 8.08 317.92
TRANSFER
Sarnia N/A N/A
Pt. Stanley N/A N/A
Hamilton N/A -0.63 7.38290 1/3
MID SD CRN -0.62 1/2 7.38
HI SD CRN -0.60 7.40 1/2
*Wet Bid
Bank of Canada Noon exchange rate was 1.0017 up 0.0003
Chicago soybeans closed slightly to moderately lower.
NOV12 HI 16.60 NOV12 HI 16.60
LOW 15.95 3/4 LOW 15.95 3/4
CLOSE16.29 Down 12 CLOSE 16.29 Down 12
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +NOV1+NOV1+NOV12
CK Low -0.01 16.28 598.19-0.75 15.54 571.00
CK High 0.30 16.59 609.58-0.65 15.64 574.67
CK Average 0.15 0.06 16.44 604.01-0.72-0.8415.58 572.28
Essex Cty 0.26 16.55 608.11-0.72 15.57 572.10
Mdsx Low -0.05 16.24 596.72-0.75 15.54 571.00
Mdsx High 0.20 16.49 605.90-0.75 15.54 571.00
Mdsx Average 0.08 -0.0116.37 601.31-0.75-0.8715.54 571.00
Hensall 0.20 16.49 605.90-0.73 15.57 571.92
Bruce 0.20 16.49 605.90-0.75 15.54 571.00
Putnam 0.20 16.49 605.90-0.75 15.54 571.00
Burford 0.00 16.29 598.56-0.75 15.54 571.00
Port Perry -0.03 16.26 597.45-0.78 15.51 569.89
Norfolk 0.23 16.52 607.01-0.70 15.59 572.83
Palmerston 0.20 16.49 605.90-0.70 15.59 572.83
Varna N/A -0.55 15.74 578.35
Trenton -0.23 16.06 590.10-0.68 15.61 573.57
Winchester -0.32 15.97 586.80-0.65 15.64 574.67
North Gower -0.29 16.00 587.90-0.61 15.68 576.14
Huron FOB 0.30 16.59 609.58-0.60 15.69 576.51
Kent FOB 0.20 16.49 605.90-0.75 15.54 571.00
Lambton FOB 0.20 16.49 605.90-0.75 15.54 571.00
Middlesex FOB0.16 N/A N/A N/A 16.45 604.43-0.59 15.70 576.88
PROCESSORS
Hamilton 0.55 0.35 -0.20-0.20 16.84 618.76-0.20 16.09 591.21
Windsor 0.49 N/A N/A N/A 16.78 616.56-0.54 15.75 578.71
Winchester N/A N/A
TRANSFER
Hamilton 0.35 N/A N/A N/A 16.64 611.42-0.15 16.14 593.04
Pt. Stanley N/A N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC 0.00 16.29 598.560.00 16.29 598.56
Toledo El. N/A -0.23 16.06 590.04
Bank of Canada Noon exchange rate was 1.0017 up 0.0003
Chicago wheat closed mixed.
SEP12 HI 8.97 JUL13 HI 8.49 1/2
LOW 8.61 3/4 LOW 8.06
CLOSE 8.79 1/2 Down 8 3/4 CLOSE 8.43 1/4 Up 13
Minni wheat closed moderately lower.
SEP12 HI 9.58 3/4 SEP13 HI 9.00
LOW 9.26 LOW 8.85
CLOSE 9.38 Down 15 3/4 CLOSE 8.87 Down 13
GFO Cash Wheat Prices - DEL Terminal
Current Crop 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.21 0.05 -0.56 -0.55
CAD $/bu 8.59 8.84 8.24 8.83
CAD $/tonne 315.58 324.82 302.66 324.26
Direct MarkHarvest 2012 Harvest 2013
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 -0.45 -0.95 N/A N/A -0.45 -1.00 N/A
London -0.45 -0.35 -0.96 N/A -0.42 -0.42 -0.97 N/A
Hensall -0.40 N/A -0.90 N/A -0.50 N/A -0.95 N/A
Trenton N/A N/A -1.00 N/A N/A N/A -1.00 N/A
Winchester N/A N/A N/A -0.98 N/A N/A N/A N/A
Essex N/A N/A -0.96 N/A N/A N/A -1.11 N/A
Norwich -0.50 N/A -0.90 N/A -0.50 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 -0.40 N/A -0.95 N/A -0.50 N/A -1.05 N/A
Chatham N/A -0.38 -0.98 N/A N/A -0.45 -1.07 N/A
Brigden N/A -0.38 -0.98 N/A N/A -0.45 -1.07 N/A
Palmerston N/A -0.48 -0.87 -0.98 N/A -0.68 -1.08 -1.08
Varna -0.50 -0.30 -0.90 N/A -0.50 -0.40 -0.90 N/A
Mitchell -0.50 -0.45 -0.90 N/A -0.50 -0.55 -0.95 N/A
Thornton N/A N/A N/A N/A N/A N/A N/A N/A
North Gower N/A N/A N/A -0.99 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 -0.80 N/A N/A N/A -0.50 N/A
Pt. Stanley N/A N/A N/A N/A N/A N/A N/A N/A
PROCESSORS
Toledo FM 0.40 0.75 0.15N/A N/A 0.67 0.16N/A
Toledo El. 8.75US 8.79CA 8.40US 8.47CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 13 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.24 0.06 -0.59 -0.79
CAD $/bu 8.19 8.50 7.84 8.08
CAD $/tonne 301.08 312.18 288.12 296.91
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
Bayport Wheat 355.00
Bayport Oats 335.00
Bayport Barley 325.00
FOB Hm Soymeal 642.00 - 659.63
DDG's FOB Srn, Wndr, Aylm 275.00 - 300.00
Wednesday August 2012
Commodity
Period
Price
Weekly Movement - Thursday to Friday
Corn CBOT
Sep
8.0050
↑
6.25
cents
Soybeans CBOT
Aug
16.8225
↓
5.75
cents
Wheat CBOT
Sep
8.7950
↓
29.50
cents
Wheat Minn.
Sep
9.3675
↓
49.25
cents
Wheat Kansas
Sep
8.8400
↓
24.00
cents
Canadian $
Sep
0.9949
↑
18.00
points
The CWB signed a grain handling deal with Winnipeg based International
Richardson to accept deliveries from farmers with wheat board contracts at all
its locations in Western Canada. Federal legislation in the case of the CWB is
now effective, taking away the board’s monopoly reign over western wheat and
barley sales. Western farmers are now able to sell their grain to any party at
any time. Meanwhile in Ontario, provincial Liberals have reached out to the
federal government for financial assistance amid a strong grip of a drought that
encompasses Ontario. Ontario Agriculture Minister Ted McMeekin asked Ottawa to
accelerate tax relief for livestock producers in the regions which are the
driest. Agriculture and Agri-Food Canada have also been approached to help with
reviewing support options for those producing livestock. Canada’s economy has
shifted into lower gears, with continuing rise in household debt and weaker job
market. The TSX was lower on Wednesday as mining shares slipped on weak global
manufacturing data. Investors are awaiting policy statements later this week
from the Federal Reserve and EU on the current state of the economy.
CORN
Corn fell in Chicago while cash basis bids were mostly unchanged at processors
and elevators around the US Midwest, as farmers were reluctant to sell the
commodity according to various dealers. A softening export market is keeping the
crop bids at bay.A chance of rain was expected late this week in some regions of
the drought-stricken US Midwest, with hopes of relief to corn among other crops
according to agricultural meteorologists.
SOYBEANS
Soybean fell in Chicago as chances of rain improve in the US Midwest. Spot bids
for August dipped nearly 4% as traders exited their positions before the
contract's expiry on Aug. 14. Volume however was relatively thin at about 8,000
contracts. Meteorologists expect increased chances for rain through the weekend
in the US Midwest.
WHEAT
Wheat fell in Chicago as chances of rain improve in the US Midwest. The price
rally in wheat and other commodities experienced three weeks ago is finding the
breaks, as more wheat surplus is turning out from Russia and other eastern
European producing countries. Meanwhile, prairie farmers are marking the first
day where they can sell their wheat to anyone at any time, as the federal
legislation is in full effect today.
Contract prices for August 1st, 2012 at 3:30pm, are as follows:
SWW at $315.20 per tonne ($8.58/bu.), HRW at $324.42 per tonne ($8.83 /bu.),
HRS at $323.87 per tonne ($8.81/bu.), and SRW at $302.29 per tonne
($8.23/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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