[Farmmarketnews] Wednesday Ontario Commodity Report & Ahmed Chilmeran Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Aug 15 16:13:28 EDT 2012
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, August 15
(All Bases in CAD)
Bank of Canada Noon exchange rate was 0.9891 down 0.0023
Chicago corn closed higher.
SEP12 HI 7.96 1/4 DEC12 HI 8.06
LOW 7.78 LOW 7.87
CLOSE7.94 Up 14 1/4 CLOSE 8.04 Up 15
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 7.64 300.77 -0.70 7.34 288.96
CK High -0.25 7.69 302.74 -0.65 7.39 290.93
CK Avg -0.28 -0.20 7.66 301.56 -0.66 -0.59 7.38 290.54
Essex Cty -0.30 7.64 300.77 -0.65 7.39 290.93
Mdsx Low -0.30 7.64 300.77 -0.70 7.34 288.96
Mdsx High -0.25 7.69 302.74 -0.70 7.34 288.96
Mdsx Avg -0.28 -0.19 7.67 301.76 -0.70 -0.63 7.34 288.96
Hensall -0.25 7.69 302.74 -0.68 7.37 289.95
Bruce -0.25 7.69 302.74 -0.70 7.34 288.96
Putnam -0.25 7.69 302.74 -0.70 7.34 288.96
Burford -0.30 7.64 300.77 -0.70 7.34 288.96
Port Perry -0.25 7.69 302.74 -0.85 7.19 283.06
Norfolk -0.27 7.67 301.95 -0.68 7.36 289.75
Palmerston -0.25 7.69 302.74 -0.80 7.24 285.03
Varna -0.25 7.69 302.74 -0.65 7.39 290.93
Trenton 0.15 8.09 318.49 -0.75 7.29 286.99
Winchester 0.20 8.14 320.46 -0.50 7.54 296.84
North Gower 0.30 8.24 324.39 -0.70 7.34 288.96
Huron FOB -0.25 7.69 302.74 -0.60 7.44 292.90
Kent FOB -0.27 7.67 301.95 -0.65 7.39 290.93
Lamb FOB -0.27 7.67 301.95 -0.65 7.39 290.93
Mdsx FOB -0.10N/A N/A N/A 7.84 308.65 -0.70 7.34 288.96
FOB SW Que 0.48 8.42 331.48 -0.60 7.44 292.90
Track 0.15 8.09 318.49N/A
PROCESSORS
Chat-Eth N/A N/A N/A N/A N/A
Jhnstwn-Eth N/A N/A N/A N/A N/A
Aylmer-Eth -0.30 -0.10 -0.75 -0.75 7.64 300.77 -0.75 7.29 286.99
Sarn-Eth N/A -0.20 -0.55 -0.55 -0.55 7.49 294.87
Cllngwd-Eth N/A N/A N/A N/A N/A*
London-Cas N/A N/A -0.45 -0.50 -0.35 7.69 302.74
Pt.Colb-Cas N/A N/A -0.40 -0.45 -0.30 7.74 304.71
Cardnl-Cas N/A N/A -0.40 -0.40 -0.30 7.74 304.71
W O Feed 0.26 0.27 8.20 322.82
US Rep 0.65 0.66 8.59 338.17
Toledo El. 0.17 8.11 319.21 0.07 8.11 319.25
TRANSFER
Sarnia N/A N/A
Pt. Stanley N/A N/A
Hamilton N/A -0.70 7.34289
MID SD CRN -0.67 1/2 7.36 1/2
HI SD CRN -0.65 7.391
*Wet Bid
Bank of Canada Noon exchange rate was 0.9891 down 0.0023
Chicago soybeans closed slightly higher to higher.
NOV12 HI 16.36 NOV12 HI 16.36
LOW 15.97 1/4 LOW 15.97 1/4
CLOSE16.34 1/2 Up 36 1/2 CLOSE 16.34 1/2 Up 36 1/2
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +NOV1+NOV1+NOV12
CK Low -0.16 16.19 594.70-0.91 15.44 567.14
CK High -0.07 16.28 598.00-0.80 15.55 571.18
CK Average -0.12 0.05 16.22 596.11-0.87-0.7415.48 568.67
Essex Cty 0.00 16.35 600.58-0.91 15.44 567.14
Mdsx Low -0.14 16.21 595.43-0.89 15.46 567.87
Mdsx High -0.05 16.30 598.74-0.85 15.50 569.34
Mdsx Average -0.10 0.08 16.25 597.09-0.87-0.7415.48 568.61
Hensall -0.03 16.32 599.66-0.85 15.50 569.34
Bruce 0.05 16.40 602.41-0.85 15.50 569.34
Putnam -0.10 16.25 596.90-0.80 15.55 571.18
Burford -0.09 16.26 597.27-0.89 15.46 567.87
Port Perry -0.12 16.23 596.17-0.92 15.43 566.77
Norfolk -0.13 16.22 595.80-0.75 15.60 573.02
Palmerston 0.00 16.35 600.58-0.85 15.50 569.34
Varna 0.00 16.35 600.58-0.85 15.50 569.34
Trenton -0.47 15.88 583.31-0.71 15.64 574.49
Winchester -0.52 15.83 581.47-0.76 15.59 572.65
North Gower -0.44 15.91 584.41-0.83 15.52 570.08
Huron FOB 0.10 16.45 604.25-0.75 15.60 573.02
Kent FOB -0.16 16.19 594.70-0.80 15.55 571.18
Lambton FOB -0.16 16.19 594.70-0.80 15.55 571.18
Middlesex FOB-0.28 N/A N/A N/A 16.07 590.29-0.81 15.54 570.81
PROCESSORS
Hamilton 0.10 0.10 -0.45-0.45 16.45 604.25-0.45 15.90 584.04
Windsor 0.23 N/A N/A N/A 16.58 609.03-0.68 15.67 575.59
Winchester -0.42 15.93 585.14-0.66 15.69 576.33
TRANSFER
Hamilton 0.00 N/A N/A N/A 16.35 600.58-0.45 15.90 584.04
Pt. Stanley N/A N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC -0.25 16.10 591.39-0.20 16.15 593.23
Toledo El. 0.17 16.51 606.76-0.23 16.12 592.19
Bank of Canada Noon exchange rate was 0.9891 down 0.0023
Chicago wheat closed mixed.
SEP12 HI 8.50 3/4 JUL13 HI 8.35 1/4
LOW 8.40 LOW 8.16 1/2
CLOSE 8.46 3/4 Up 7 CLOSE 8.20 3/4 Down 6 1/2
Minni wheat closed moderately higher.
SEP12 HI 9.15 3/4 SEP13 HI 9.20
LOW 9.02 3/4 LOW 9.00
CLOSE 9.13 1/2 Up 10 3/4 CLOSE 9.18 3/4 Up 12
GFO Cash Wheat Prices - DEL Terminal
Current Crop 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.39 -0.14 -0.73 -0.79
CAD $/bu 8.08 8.33 7.74 8.35
CAD $/tonne 296.96 306.05 284.23 306.68
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 -0.54 -1.04 N/A N/A -0.61 -1.10 N/A
London -0.45 -0.55 -1.05 N/A -0.55 -0.65 -1.10 N/A
Hensall -0.65 N/A -1.05 N/A -0.65 N/A -1.10 N/A
Trenton N/A N/A -1.10 N/A N/A N/A -1.15 N/A
Winchester N/A N/A N/A -1.03 N/A N/A N/A N/A
Essex N/A N/A -1.13 N/A N/A N/A -1.26 N/A
Norwich -0.65 N/A -1.05 N/A -0.65 N/A -1.10 N/A
Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A
Kent Bridge -0.65 N/A -1.05 N/A -0.65 N/A -1.15 N/A
Chatham N/A -0.54 -1.04 N/A N/A -0.61 -1.14 N/A
Brigden N/A -0.54 -1.04 N/A N/A -0.61 -1.14 N/A
Palmerston N/A -0.56 -0.98 -1.05 N/A -0.76 -1.04 -1.15
Varna -0.65 -0.60 -1.05 N/A -0.65 -0.70 -1.10 N/A
Mitchell -0.65 -0.60 -1.05 N/A -0.65 -0.70 -1.10 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 -0.86 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 -1.15 N/A N/A N/A -0.70 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 0.60 -0.09N/A N/A 0.53 -0.07N/A
Toledo El. 8.37US 8.28CA 8.18US 8.11CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 13 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.36 -0.07 -0.71 -0.92
CAD $/bu 7.84 8.14 7.50 8.27
CAD $/tonne 288.19 299.12 275.43 303.86
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
Bayport Wheat 350.00 - 355.00
Bayport Oats 325.00
Bayport Barley 325.00
FOB Hm Soymeal 617.30 - 620.61
DDG's FOB Srn, Wndr, Aylm 290.00 - 315.00
August 10, 2012
Commodity
Period
Price
Weekly Movement - Thursday to Friday
Corn CBOT
Sep
8.1100
↑
1.00
cents
Soybeans CBOT
Aug
17.1000
↑
80.00
cents
Wheat CBOT
Sep
8.8575
↓
13.50
cents
Wheat Minn.
Sep
9.3925
↓
24.75
cents
Wheat Kansas
Sep
8.9050
↓
14.50
cents
Canadian $
Sep
1.0076
↑
33.00
points
Federal finance minister Jim Flaherty indicated in a news report that the EU
needs to do more to remedy the current crisis. The news came ahead of the annual
summer policy retreat in Ottawa, in which policy makers, business leaders and
academics alike gather to discuss current affairs. The EU debt stricken economy
shrank in the second quarter after flat lining in the first, despite German
growth which economists say could soon follow suit. Meanwhile, China's economy
is showing signs of slowing down with data last week that suggested that the
economy has not stabilized despite two interest rate cuts. China’s export
growth, factory output and retail sales further weakened in July. Food vs. Fuel
is back on the radar of EU policy and industry leaders after record high grain
prices as a result of the draught conditions. The renewed anxiety adds to
pressure on the EU's executive Commission to ink a deal that would ultimately
prevent the biofuel industry from clashing with food production or the
environment.
Corn
Corn rose in Chicago following the USDA’s August 10th report. The report
estimated domestic output will drop by 13% to a six-year low of 10.78 billion
bushels. China's corn output is also expected to be affected due to pest
infestation; this will help maintain high prices on top of the drought driven
price rally in major producer countries. While traders are fairly ready to
handle this year’s lower harvest supply, the food vs. fuel debate continues.
The supply chain between livestock, ethanol plants and food companies is complex
and what end-consumers will receive in price is yet to be determined.
SOYBEANS
Soybean rose in Chicago following the USDA’s August 10th report. The report
estimated domestic output will slip to 2.692 billion bushels, the lowest since
2007. Rainy weather is in the forecast for the US Midwest; however it may be a
bit too late to remedy the crop damage. While traders are fairly ready to handle
this year’s lower supply, the food vs. fuel debate continues and how much
prices will rise to end-consumers remains a question.
WHEAT
Wheat rose in Chicago on fears that Russia will instill another grain export
ban. Russia banned grain exports previously for almost a year after a harsh
draught two years ago, a move that helped prices rally earlier. The crop
continues to enjoy high demand with Egypt, the world's largest wheat buyer,
buying 120,000 tonnes of wheat from Russia and Ukraine.
Contract prices for August 15th, 2012 at 3:30 pm, are as follows:
SWW at $297.26 per tonne ($8.09/bu.), HRW at $306.34 per tonne ($8.34 /bu.),
HRS at $308.24 per tonne ($8.39/bu.), and SRW at $282.73 per tonne
($7.69/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 uoguelph.ca
AgriLink website : www.ridgetownc.com/agrilink
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