[Farmmarketnews] Wednesday Ontario Commodity Report & Ahmed Chilmeran Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Dec 12 16:35:25 EST 2012
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, December 12
(All Bases in CAD)
Bank of Canada Noon exchange rate was 0.9854 down 0.0013
Chicago corn closed slightly lower.
MAR13 HI 7.31 3/4 DEC13 HI 6.30
LOW 7.19 LOW 6.21 1/2
CLOSE7.25 1/2 Down 2 1/2 CLOSE 6.25 3/4 Down 2
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +MAR13+MAR13+MAY13
CK Low -0.65 6.61 260.03 -0.75 5.51 216.82
CK High -0.60 6.66 262.00 -0.70 5.56 218.79
CK Avg -0.63 -0.52 6.63 261.01 -0.71 -0.63 5.55 218.46
Essex Cty -0.65 6.61 260.03 -0.75 5.51 216.82
Mdsx Low -0.65 6.61 260.03 -0.70 5.56 218.79
Mdsx High -0.65 6.61 260.03 -0.70 5.56 218.79
Mdsx Avg -0.65 -0.54 6.61 260.03 -0.70 -0.62 5.56 218.79
Hensall -0.65 6.61 260.03 -0.70 5.56 218.79
Bruce -0.65 6.61 260.03 -0.70 5.56 218.79
Putnam -0.65 6.61 260.03 -0.70 5.56 218.79
Burford -0.65 6.61 260.03 -0.70 5.56 218.79
Port Perry -0.65 6.61 260.03 -0.70 5.56 218.79
Norfolk -0.55 6.71 263.96 -0.75 5.51 216.82
Palmerston -0.65 6.61 260.03 -0.70 5.56 218.79
Varna -0.65 6.61 260.03 -0.70 5.56 218.79
Trenton -0.65 6.61 260.03 -0.70 5.56 218.79
Winchester -0.25 7.01 275.77 -0.65 5.61 220.76
North Gower -0.35 6.91 271.84 -0.83 5.43 213.67
Huron FOB -0.60 6.66 262.00 -0.70 5.56 218.79
Kent FOB -0.60 6.66 262.00 -0.70 5.56 218.79
Lamb FOB -0.60 6.66 262.00 -0.70 5.56 218.79
Mdsx FOB -0.65 -0.60 -0.55N/A 6.61 260.03 -0.70 5.56 218.79
FOB SW Que -0.40 6.86 269.87 -0.50 5.76 226.66
Track -0.28 6.98 274.79N/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 N/A N/A N/A -0.35 N/A
Sarn-Eth -0.60 -0.30 -0.30 -0.30 6.66 262.00N/A
Cllngwd-Eth N/A N/A N/A N/A N/A*
London-Cas N/A N/A N/A N/A -0.55 5.71 224.69
Pt.Colb-Cas N/A N/A N/A N/A -0.40 5.86 230.60
Cardnl-Cas N/A N/A N/A 0.15 -0.45 5.81 228.63
W O Feed -0.20 -0.19 7.06 277.74
US Rep 0.50 0.51 7.76 305.30
Toledo El. -0.01 7.25 285.23 -0.28 5.98 235.47
TRANSFER
Sarnia N/A N/A
Pt. Stanley -0.60 6.66 262.00N/A
Hamilton -0.60 6.66262 -0.60 5.66222 5/7
MID SD CRN -0.62 1/2 6.63
HI SD CRN -0.60 6.65 1/2
*Wet Bid
Bank of Canada Noon exchange rate was 0.9854 down 0.0013
Chicago soybeans closed narrowly mixed.
JAN13 HI 14.78 3/4 NOV13 HI 13.23
LOW 14.57 1/4 LOW 13.10
CLOSE14.73 1/2 Up 1 1/2 CLOSE 13.18 1/2 Down 3
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +JAN1+JAN1+MAR13
CK Low -0.91 13.83 507.98-1.02 12.17 446.99
CK High -0.80 13.94 512.02-0.95 12.24 449.56
CK Average -0.88 -0.6613.86 509.21-1.00-0.8312.19 447.91
Essex Cty -0.68 14.06 516.43-0.96 12.23 449.19
Mdsx Low -0.86 13.88 509.82-0.97 12.22 448.82
Mdsx High -0.85 13.89 510.19-0.95 12.24 449.56
Mdsx Average -0.86 -0.6313.88 510.00-0.96-0.7912.23 449.19
Hensall -0.83 13.91 511.11-0.93 12.26 450.48
Bruce -0.85 13.89 510.19-0.95 12.24 449.56
Putnam -0.90 13.84 508.35-1.00 12.19 447.72
Burford -0.86 13.88 509.82-0.97 12.22 448.82
Port Perry -0.89 13.85 508.72-1.00 12.19 447.72
Norfolk -0.85 13.89 510.19-0.97 12.22 448.82
Palmerston -0.80 13.94 512.02-0.90 12.29 451.40
Varna -0.80 13.94 512.02-0.90 12.29 451.40
Trenton -0.89 13.85 508.72-0.92 12.27 450.66
Winchester -0.75 13.99 513.86-0.80 12.39 455.07
North Gower -0.80 13.94 512.02-1.03 12.16 446.62
Huron FOB -0.65 14.09 517.54-0.85 12.34 453.23
Kent FOB -0.90 13.84 508.35-1.02 12.17 446.99
Lambton FOB -0.90 13.84 508.35-1.02 12.17 446.99
Middlesex FOB-0.54-0.65-0.65 N/A 14.20 521.58-0.83 12.36 453.97
PROCESSORS
Hamilton -0.30-0.40-0.40-0.35 14.44 530.40-0.50 12.69 466.09
Windsor -0.45-0.39-0.38-0.37 14.29 524.88-0.73 12.46 457.64
Winchester N/A N/A
TRANSFER
Hamilton -0.15-0.80 N/A N/A 14.59 535.91-0.46 12.73 467.56
Pt. Stanley N/A N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC 0.15 14.89 546.93-0.35 12.84 471.61
Toledo El. -0.08 14.66 538.52-0.33 12.86 472.50
Bank of Canada Noon exchange rate was 0.9854 down 0.0013
Chicago wheat closed slightly lower.
MAR13 HI 8.25 1/2 JUL13 HI 8.45 1/2
LOW 8.09 LOW 8.29 3/4
CLOSE 8.12 Down 9 1/2 CLOSE 8.32 3/4 Down 9 1/2
Minni wheat closed slightly lower.
MAR13 HI 9.18 SEP13 HI 9.31
LOW 9.03 LOW 9.20 1/4
CLOSE 9.04 Down 7 CLOSE 9.20 1/2 Down 6 1/2
GFO Cash Wheat Prices - DEL Terminal
Current Crop 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.71 -0.61 -0.86 -1.07
CAD $/bu 7.41 7.51 7.26 7.97
CAD $/tonne 272.18 275.79 266.75 292.81
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 N/A -1.23 N/A N/A -1.00 -1.25 N/A
London -0.99 -0.99 -1.24 N/A -0.99 -0.99 -1.29 N/A
Hensall -0.80 N/A -1.15 N/A -0.75 N/A -1.25 N/A
Trenton N/A N/A N/A N/A N/A N/A -1.40 N/A
Winchester N/A N/A N/A N/A N/A N/A N/A -1.05
Essex N/A N/A -1.33 N/A N/A N/A -1.33 N/A
Norwich -0.80 N/A -1.15 N/A -0.75 N/A -1.25 N/A
Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A
Kent Bridge -0.90 N/A -1.20 N/A -0.80 N/A -1.25 N/A
Chatham N/A -0.99 -1.20 N/A N/A -0.98 -1.25 N/A
Brigden N/A -0.99 -1.20 N/A N/A -0.98 -1.25 N/A
Palmerston N/A -0.80 -1.20 -0.94 N/A -0.90 -1.30 -1.04
Varna -0.80 -0.90 -1.05 N/A -0.75 -1.10 -1.20 N/A
Mitchell -0.80 -1.00 -1.15 N/A -0.75 -1.05 -1.25 N/A
Thornton N/A N/A N/A -1.93 N/A N/A N/A N/A
North Gower N/A N/A N/A -1.06 N/A N/A N/A -1.03
TERMINAL
Sarnia N/A N/A N/A N/A N/A N/A N/A N/A
Hamilton N/A N/A -0.90 N/A N/A N/A -0.85 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 -0.22N/A 0.29N/A -0.30N/A
Toledo El. 7.78US 7.66CA 8.10US 7.99CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 13 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.60 -0.50 -1.04 -1.06
CAD $/bu 7.73 7.83 7.28 8.15
CAD $/tonne 283.92 287.55 267.60 299.43
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
Bayport Wheat 365.00 - 380.00
Bayport Oats 345.00
Bayport Barley 325.00
FOB Hm Soymeal 537.39 - 544.00
DDG's FOB Srn, Wndr, Aylm 285.00 - 290.00
Wednesday December 12, 2012
Commodity Period Price Weekly Movement - Thursday to Friday
Corn CBOT Mar 7.2550 ↓ 26.75 cents
Soybeans CBOT Jan 14.7300 ↓ 18.25 cents
Wheat CBOT Mar 8.1200 ↓ 50.00 cents
Wheat Minn. Mar 9.0400 ↓ 31.25 cents
Wheat Kansas Mar 8.6525 ↓ 46.75 cents
Canadian $ Dec 1.0130 ↑ 46.00 points
Ben Bernanke indicated in a statement that the Federal Reserve will continue with Operation Twist – the on-going rounds of quantitative easing by the central bank in which a simultaneous buying of long-term bonds and selling of short term ones takes place to keep long term interest rates low. This time however, the T-bill transactions will be in the range of $40 billion to $45 billion per month; meanwhile congress is still debating over the measures needed to avoid the fiscal-cliff ahead. This saw oil price rise and the loonie leap over the greenback. The TSX was also higher finding support from the federal news and a rise in metals. New rail freight service regulations announced in Canada affecting CN and CP rail. The Fair Rail Freight Service Act bill will give shippers more leverage over the rail carriers through arbitration and penalties over service disruptions and disagreements. The intervention by the federal government is on the grounds of improving the efficiency of the transport system.
Corn
Corn futures extended their moderate losses from Tuesday following the USDA world supply and demand report. The USDA report essentially had no major revisions to corn numbers. World production increased 9.4 million tonnes of which 8 million metric tonnes of that is by China. Ending stocks fell by 380,000 tonnes, and Canadian output increased 1.5 million tonnes.
Soybeans
Soybean was trading mostly lower over near ideal weather conditions in South America. The USDA’s recent world supply and demand report saw some revisions to the US numbers with a slight increase in US demand by 10 million bushels, putting crush at 1.570 billion bushels. Soy oil exports however was significantly higher with 1.8 billion pounds, up sharply from 1.2 billion over last month.
WHEAT
Wheat was lower after feeling the bearish influence of the USDA’s world supply and demand report. The notions that winter crop is vulnerable to a winter kill is still looming giving further support to the bearish market. The USDA global wheat supplies for 2012/13 are estimated at 1.6 million tonnes higher
Contract prices for December 12th 2012 at 3:30pm, are as follows:
SWW at $272.70 per tonne ($7.40 /bu), HRW at $275.62 per tonne ($7.50/bu.),
HRS at $292.62 per tonne ($7.96/bu.), and SRW at $266.58 per tonne ($7.26/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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