[Farmmarketnews] Wednesday Ontario Commodity Report and Ahmed Chilmeran Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Dec 19 16:39:36 EST 2012
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, December 19
(All Bases in CAD)
Bank of Canada Noon exchange rate was 0.9868 up 0.0014
Chicago corn closed moderately lower to lower.
MAR13 HI 7.23 DEC13 HI 6.26 1/4
LOW 7.01 1/2 LOW 6.11 3/4
CLOSE7.03 Down 17 CLOSE 6.13 1/2 Down 9 1/2
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +MAR13+MAR13+MAY13
CK Low -0.70 6.33 249.20 -0.75 5.39 212.00
CK High -0.60 6.43 253.14 -0.70 5.44 213.97
CK Avg -0.65 -0.58 6.38 251.17 -0.74 -0.69 5.39 212.33
Essex Cty -0.65 6.38 251.17 -0.75 5.39 212.00
Mdsx Low -0.70 6.33 249.20 -0.75 5.39 212.00
Mdsx High -0.65 6.38 251.17 -0.75 5.39 212.00
Mdsx Avg -0.68 -0.60 6.36 250.19 -0.75 -0.70 5.39 212.00
Hensall -0.65 6.38 251.17 -0.73 5.41 212.98
Bruce -0.65 6.38 251.17 -0.75 5.39 212.00
Putnam -0.65 6.38 251.17 -0.75 5.39 212.00
Burford -0.70 6.33 249.20 -0.75 5.39 212.00
Port Perry -0.70 6.33 249.20 -0.75 5.39 212.00
Norfolk -0.60 6.43 253.14 -0.75 5.39 212.00
Palmerston -0.65 6.38 251.17 -0.70 5.44 213.97
Varna -0.65 6.38 251.17 -0.70 5.44 213.97
Trenton -0.60 6.43 253.14 -0.70 5.44 213.97
Winchester -0.25 6.78 266.92 -0.60 5.54 217.90
North Gower -0.35 6.68 262.98 -0.83 5.31 208.85
Huron FOB -0.60 6.43 253.14 -0.70 5.44 213.97
Kent FOB -0.65 6.38 251.17 -0.75 5.39 212.00
Lamb FOB -0.65 6.38 251.17 -0.75 5.39 212.00
Mdsx FOB -0.70 -0.65 -0.60 -0.55 6.33 249.20 -0.75 5.39 212.00
FOB SW Que -0.35 6.68 262.98 -0.50 5.64 221.84
Track -0.33 6.71 263.96N/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 6.43 253.14N/A
Cllngwd-Eth N/A N/A N/A N/A N/A*
London-Cas N/A N/A N/A N/A -0.60 5.54 217.90
Pt.Colb-Cas N/A N/A N/A N/A -0.55 5.59 219.87
Cardnl-Cas N/A N/A N/A 0.10 -0.50 5.64 221.84
W O Feed -0.21 -0.20 6.82 268.49
US Rep 0.45 0.46 7.48 294.47
Toledo El. 0.02 7.05 277.54 -0.28 5.86 230.60
TRANSFER
Sarnia N/A N/A
Pt. Stanley -0.65 6.38 251.17 -0.75 5.39212
Hamilton -0.59 6.44253 1/2 -0.57 5.57219
MID SD CRN -0.65 1 6.38
HI SD CRN -0.60 6.43
*Wet Bid
Bank of Canada Noon exchange rate was 0.9868 up 0.0014
Chicago soybeans closed slightly lower to lower.
JAN13 HI 14.72 1/4 NOV13 HI 13.15 3/4
LOW 14.33 LOW 12.98
CLOSE14.37 Down 29 CLOSE 13.01 Down 9
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +JAN1+JAN1+MAR13
CK Low -0.90 13.47 494.94-1.00 12.01 441.29
CK High -0.85 13.52 496.77-1.00 12.01 441.29
CK Average -0.88 -0.7313.49 495.61-1.00-0.8912.01 441.29
Essex Cty -0.59 13.78 506.33-0.88 12.13 445.70
Mdsx Low -0.85 13.52 496.77-0.97 12.04 442.39
Mdsx High -0.84 13.53 497.14-0.95 12.06 443.13
Mdsx Average -0.85 -0.6913.53 496.96-0.96-0.8512.05 442.76
Hensall -0.83 13.55 497.69-0.93 12.09 444.05
Bruce -0.85 13.52 496.77-0.95 12.06 443.13
Putnam -0.90 13.47 494.94-1.00 12.01 441.29
Burford -0.84 13.53 497.14-0.97 12.04 442.39
Port Perry -0.87 13.50 496.04-1.00 12.01 441.29
Norfolk -0.81 13.56 498.24-0.95 12.06 443.13
Palmerston -0.80 13.57 498.61-0.90 12.11 444.97
Varna -0.80 13.57 498.61-0.90 12.11 444.97
Trenton -0.90 13.47 494.94-0.90 12.11 444.97
Winchester -0.80 13.57 498.61-0.85 12.16 446.80
North Gower -0.84 13.53 497.14-0.96 12.05 442.76
Huron FOB -0.65 13.72 504.12-0.85 12.16 446.80
Kent FOB -0.86 13.51 496.41-1.00 12.01 441.29
Lambton FOB -0.86 13.51 496.41-1.00 12.01 441.29
Middlesex FOB-0.65-0.65-0.65-0.65 13.72 504.12-0.83 12.18 447.54
PROCESSORS
Hamilton -0.30-0.40-0.40-0.40 14.07 516.98-0.55 12.46 457.83
Windsor -0.36-0.30-0.29-0.28 14.01 514.78-0.66 12.35 453.78
Winchester N/A N/A
TRANSFER
Hamilton -0.44 N/A N/A N/A 13.93 511.84-0.49 12.52 460.03
Pt. Stanley N/A N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC 0.00 14.37 528.01-0.34 12.67 465.54
Toledo El. -0.08 14.29 525.10-0.33 12.68 466.02
Bank of Canada Noon exchange rate was 0.9868 up 0.0014
Chicago wheat closed slightly lower.
MAR13 HI 8.22 3/4 JUL13 HI 8.38
LOW 8.02 LOW 8.19
CLOSE 8.05 3/4 Down 5 1/2 CLOSE 8.23 Down 6
Minni wheat closed slightly lower.
MAR13 HI 9.11 1/2 SEP13 HI 9.22 1/4
LOW 8.93 3/4 LOW 9.06 1/2
CLOSE 8.95 1/2 Down 6 CLOSE 9.07 3/4 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 -0.68 -0.58 -0.83 -1.03
CAD $/bu 7.38 7.48 7.23 7.92
CAD $/tonne 271.12 274.75 265.66 291.02
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 -1.15 N/A N/A -1.00 -1.25 N/A
London -0.94 -0.99 -1.19 N/A -0.95 -0.99 -1.24 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 -1.25 N/A
Winchester N/A N/A N/A N/A N/A N/A N/A -1.05
Essex N/A N/A -1.29 N/A N/A N/A -1.19 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 -0.82 -1.21 -0.96 N/A -0.92 -1.32 -1.10
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 -1.91 N/A N/A N/A N/A
North Gower N/A N/A N/A -1.07 N/A N/A N/A -1.04
TERMINAL
Sarnia N/A N/A N/A N/A N/A N/A N/A N/A
Hamilton N/A N/A -0.89 N/A N/A N/A -0.86 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 -0.18N/A 0.32N/A -0.27N/A
Toledo El. 7.80US 7.71CA 8.00US 7.93CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 13 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.57 -0.47 -1.01 -1.02
CAD $/bu 7.66 7.76 7.22 8.06
CAD $/tonne 281.52 285.17 265.13 296.00
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
Bayport Wheat 370.00
Bayport Oats 345.00
Bayport Barley 315.00
FOB Hm Soymeal 540.25 - 542.46
DDG's FOB Srn, Wndr, Aylm 285.00 - 320.00
Grain Market Commentary for Wednesday December 19, 2012 by Ahmed Chilmeran, Grain Farmers of Ontario
Commodity Period Price Weekly Movement - Wednesday to Friday
Corn CBOT Mar 7.0300 ↓ 27.00 cents
Soybeans CBOT Jan 14.3700 ↓ 57.50 cents
Wheat CBOT Mar 8.0575 ↓ 10.00 cents
Wheat Minn. Mar 8.9550 ↓ 9.00 cents
Wheat Kansas Mar 8.5800 ↓ 4.75 cents
Canadian $ Dec 1.0107 ↓ 14.00 points
The US government plans to sell back its remaining stake in General Motors (GM) over the next year. GM will spend $5.5 billion to buy back 200 million shares of its stock from the US treasury by the end of this month. The remaining 300 million shares will follow on the open market starting January. The Canadian government, in contrast, indicated that now is not the right time to sell, given the likelihood that shares will be undervalued. Canada, both federally and provincially, has been the other bail-out partner of GM and Chrysler with a $13.7 billion investment. In a recent report, CIBC downgraded the economic growth of Canada from 2% to 1.7%. This news was followed by advice from the International Monetary Fund (IMF) to the Bank of Canada to keep interest rates low throughout 2013 to mitigate global shocks. The Teranet-National Bank House Price Index, a popular index for Canadian housing prices, shows home prices fell in November in 10 of 11 major markets tracked; tightening mortgage regulations from Ottawa are partly responsible.
Corn
Corn was lower in Chicago on weaker demand and also after receiving news of China pulling back on soybean sales from the US. Favourable South American crop conditions are also putting pressure on the market. Informa Economics, a commodity analytics group, pegged corn plantings at 99 million acres, up from its October estimate of 97.7 million acres. Meanwhile, Ukraine is looking into exporting corn to the US, following the worst drought in half a century with talks about standards and conditions taking place.
Soybeans
Soybean was lower in Chicago following a big US order cancelation from China, putting weakness in the current demand for oilseeds. Export demand had been the main driver for prices and recent retreats have been attributed to speculative selling and profit taking. The Chinese news followed favourable conditions for the crop in Argentina and Brazil, the two largest producers in the world. The South American crop has the potential to replenish tight soybean supplies, putting downward pressure on prices.
WHEAT
Wheat was up in Chicago following Egypt’s purchase of US wheat. Egypt, the world’s biggest importer, bought 180,000 metric tons of soft red winter wheat. In addition private exporters have reported sales of 110,000 metric tons of US hard red winter wheat. Japan, Asia’s second biggest importer, intends to buy 121,026 tons from the US and Canada in the following days.
Contract prices for December 19th 2012 at 3:30pm, are as follows:
SWW at $271.11 per tonne ($7.38 /bu), HRW at $274.75 per tonne ($7.48/bu.),
HRS at $291.01 per tonne ($7.92/bu.), and SRW at $265.66 per tonne ($7.23/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 uoguelph.ca
AgriLink website : www.ridgetownc.com/agrilink
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