[Farmmarketnews] Wednesday Ontario Commodity Report & Ahmed Chilmeran Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Feb 15 15:48:08 EST 2012
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, February 15
(All Bases in CAD)
Bank of Canada Noon exchange rate was 0.9996 up 0.0005
Chicago corn closed slightly to moderately lower.
MAR12 HI 6.38 1/2 DEC12 HI 5.67 3/4
LOW 6.25 1/4 LOW 5.57 1/4
CLOSE6.27 Down 6 1/2 CLOSE 5.59 3/4 Down 4
1/2
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +MAY12+MAY12+JUL12
CK Low -0.40 5.87 231.09 -0.65 4.95 194.77
CK High -0.35 5.92 233.06 -0.65 4.95 194.77
CK Avg -0.39 -0.38 5.88 231.62 -0.65 -0.66 4.95 194.77
Essex Cty -0.40 5.87 231.09 -0.75 4.85 190.84
Mdsx Low -0.40 5.87 231.09 -0.65 4.95 194.77
Mdsx High -0.40 5.87 231.09 -0.65 4.95 194.77
Mdsx Avg -0.40 -0.40 5.87 231.09 -0.65 -0.66 4.95 194.77
Hensall -0.40 5.87 231.09 -0.65 4.95 194.77
Bruce -0.40 5.87 231.09 -0.65 4.95 194.77
Putnam -0.35 5.92 233.06 -0.65 4.95 194.77
Burford -0.40 5.87 231.09 -0.65 4.95 194.77
Port Perry -0.40 5.87 231.09 -0.65 4.95 194.77
Norfolk -0.37 5.90 232.27 -0.65 4.95 194.77
Palmerston -0.40 5.87 231.09 -0.65 4.95 194.77
Varna -0.40 5.87 231.09 -0.65 4.95 194.77
Trenton -0.10 6.17 242.90 -0.60 5.00 196.74
Winchester -0.05 6.22 244.87 -0.50 5.10 200.68
North Gower 0.03 6.30 248.02 -0.12 5.48 215.64
Huron FOB -0.25 6.02 237.00 -0.60 5.00 196.74
Kent FOB -0.37 5.90 232.27 -0.65 4.95 194.77
Lamb FOB -0.37 5.90 232.27 -0.65 4.95 194.77
Mdsx FOB -0.35 -0.35 -0.25 -0.25 5.92 233.06 -0.65 4.95 194.77
FOB SW Que 0.15 6.42 252.74 -0.30 5.30 208.55
Track 0.03 6.30 247.82N/A
PROCESSORS
Chat-Eth N/A N/A N/A N/A -0.65 4.95 194.77
Jhnstwn-Eth 0.20 0.25 0.35 0.25 6.47 254.71 -0.55 5.05 198.71
Aylmer-Eth N/A -0.25 -0.20 -0.20 -0.50 5.10 200.68
Sarn-Eth -0.10 -0.10 0.00 0.05 6.17 242.90N/A
Cllngwd-Eth N/A N/A N/A N/A -0.30* 5.30 208.55
London-Cas N/A N/A 0.10 0.10 -0.40 5.20 204.62
Pt.Colb-Cas N/A N/A N/A 0.20 -0.35 5.25 206.58
Cardnl-Cas 0.20 0.35 0.40 0.20 6.47 254.71 -0.35 5.25 206.58
W O Feed 0.15 0.15 6.42 252.74
US Rep 0.60 0.60 6.87 270.46
Toledo El. 0.10 6.37 250.77 -0.38 5.22 205.37
TRANSFER
Sarnia N/A N/A
Pt. Stanley N/A N/A
Hamilton -0.16 6.11240 1/2 -0.38 5.22205 2/5
MID SD CRN -0.37 1/2 5.89 1/2
HI SD CRN -0.35 5.92
*Wet Bid
Bank of Canada Noon exchange rate was 0.9996 up 0.0005
Chicago soybeans closed slightly higher.
MAR12 HI 12.69 NOV12 HI 12.65 1/4
LOW 12.49 LOW 12.50
CLOSE12.61 Up 6 CLOSE 12.60 1/2 Up 3
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +MAR1+MAR1+MAY12
CK Low -0.60 12.01 441.29-0.81 11.80 433.39
CK High -0.50 12.11 444.97-0.75 11.86 435.60
CK Average -0.56 -0.5512.06 442.95-0.78-0.8111.82 434.37
Essex Cty -0.42 12.19 447.91-0.68 11.93 438.17
Mdsx Low -0.56 12.05 442.76-0.77 11.84 434.86
Mdsx High -0.50 12.11 444.97-0.75 11.86 435.60
Mdsx Average -0.53 -0.5312.08 443.86-0.76-0.7911.85 435.23
Hensall -0.55 12.06 443.13-0.78 11.83 434.68
Bruce -0.55 12.06 443.13-0.80 11.81 433.76
Putnam -0.55 12.06 443.13-0.80 11.81 433.76
Burford -0.53 12.08 443.86-0.74 11.87 435.96
Port Perry -0.59 12.02 441.66-0.80 11.81 433.76
Norfolk -0.50 12.11 444.97-0.74 11.87 435.96
Palmerston -0.60 12.01 441.29-0.80 11.81 433.76
Varna -0.65 11.96 439.45-0.85 11.76 431.92
Trenton -0.80 11.81 433.94-0.90 11.71 430.09
Winchester -0.94 11.67 428.80-0.79 11.82 434.13
North Gower -0.50 12.11 444.97-0.77 11.84 434.86
Huron FOB -0.45 12.16 446.80-0.70 11.91 437.43
Kent FOB -0.54 12.07 443.50-0.79 11.82 434.13
Lambton FOB -0.54 12.07 443.50-0.79 11.82 434.13
Middlesex FOB-0.56-0.54-0.55 N/A 12.05 442.76-0.60 12.01 441.11
PROCESSORS
Hamilton -0.25-0.25-0.25-0.25 12.36 454.15-0.15 12.46 457.64
Windsor -0.19-0.19-0.24-0.23 12.42 456.36-0.45 12.16 446.62
Winchester -0.80 11.81 433.94-0.65 11.96 439.27
TRANSFER
Hamilton -0.20 N/A N/A N/A 12.41 455.99-0.15 12.46 457.64
Pt. Stanley N/A N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC -0.10 12.51 459.660.05 12.66 464.99
Toledo El. -0.18 12.43 456.73-0.38 12.22 449.16
Bank of Canada Noon exchange rate was 0.9996 up 0.0005
Chicago wheat closed slightly lower.
MAR12 HI 6.40 1/2 JUL12 HI 6.54 1/4
LOW 6.24 1/4 LOW 6.43 1/4
CLOSE 6.26 Down 9 CLOSE 6.46 3/4 Down 3
Minni wheat closed slightly lower.
MAR12 HI 8.18 1/2 SEP12 HI 7.77 1/4
LOW 8.08 1/4 LOW 7.67
CLOSE 8.11 Down 1 CLOSE 7.68 1/2 Down 3 3/4
GFO Cash Wheat Prices - DEL Terminal
Current Crop 11 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.10 0.75 0.10 -0.45
CAD $/bu 6.16 7.01 6.36 7.66
CAD $/tonne 226.27 257.50 233.62 281.37
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 0.48 -0.02 N/A N/A 0.44 -0.33 N/A
London -0.12 0.43 -0.07 N/A -0.02 0.42 -0.38 N/A
Hensall -0.10 N/A -0.15 N/A 0.05 N/A -0.40 N/A
Trenton N/A N/A N/A N/A N/A N/A -0.25 N/A
Winchester N/A N/A N/A N/A N/A N/A N/A -0.80
Essex N/A N/A -0.15 N/A N/A N/A -0.33 N/A
Norwich -0.10 N/A -0.15 N/A 0.05 N/A -0.40 N/A
Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A
Kent Bridge -0.10 N/A -0.15 N/A 0.05 N/A -0.40 N/A
Chatham N/A N/A N/A N/A N/A 0.42 -0.34 N/A
Brigden N/A N/A N/A N/A N/A 0.42 -0.34 N/A
Palmerston N/A 0.66 -0.07 -0.48 N/A 0.38 -0.27 -0.76
Varna -0.10 0.55 -0.10 N/A 0.05 0.60 -0.30 N/A
Mitchell -0.10 0.50 -0.15 N/A 0.05 0.55 -0.40 N/A
Thornton N/A N/A N/A -0.68 N/A N/A N/A N/A
North Gower N/A N/A N/A N/A N/A N/A N/A -0.75
TERMINAL
Sarnia N/A N/A N/A N/A N/A N/A N/A N/A
Hamilton N/A N/A 0.20 N/A N/A N/A 0.00 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 0.40N/A N/A 1.02 0.41N/A
Toledo El. 6.45US 6.45CA 6.49US 6.50CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.06 0.82 -0.14 -0.03
CAD $/bu 6.53 7.28 6.33 7.65
CAD $/tonne 239.98 267.60 232.62 281.13
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
Bayport Wheat 300.00 - 302.00
Bayport Oats 314.00
Bayport Barley 295.00
FOB Hm Soymeal 381.19
DDG's FOB Srn, Wndr, Aylm 160.00 - 185.00
Wednesday February 15, 2012
Commodity
Period
Price
Weekly Movement - Wednesday to Friday
Corn CBOT
Mar
6.2700
↓
8.50
cents
Soybeans CBOT
Jan
12.6100
↑
40.00
cents
Wheat CBOT
Mar
6.2600
↓
12.50
cents
Wheat Minn.
Mar
8.1100
↓
14.75
cents
Wheat Kansas
Mar
6.7000
↓
12.25
cents
Canadian $
Mar
1.0007
↑
28.00
points
Don Drummond, celebrity economist, former bureaucrat and former TD bank chief
economist will unveil his long awaited report on the reform of Ontario’s
public services later on Wednesday afternoon at Queen’s Park. The report will
span 362 recommendations, 100 of which deal with health care, which consumes 42%
of government spending. The report will surely raise some eyebrows and possibly
ruffle the feathers of the current government. Meanwhile, Iran announced new
strides in its nuclear program and threatened to cut oil exports to six European
countries in defiance to American and European pressure to rein in its atomic
activities. This in turn saw crude prices through the roof on Wednesday with
Brent crude rose to $119.99 a barrel, while WTI light sweet crude soared as high
as $102.54 per barrel. The TSX was up on news from China continuing to buy EU
debt but managed to settle with news of that Greek’s bailout may be delayed.
All these dynamics found the loonie up for the third consecutive day.
CORN
Corn rose in Chicago, with supporting news from China showing interest in
buying Europe's debt. There’s speculation of a big sale of US corn to China.
China has been the biggest buyer of American exports in 2011. China bought $20
billion, or 14%, of US agricultural exports, accounting for nearly one fifth of
all US exports to China. China is likely to increase its imports of corn from
North America to meet its growing domestic demand.
SOYBEANS
Soybean continues to enjoy high notes in Chicago. A Chinese trade delegation
will arrive in Iowa later this afternoon and is expected to sign an agreement to
buy soybeans. The speculation caught the eye of commodity traders earlier, who
bid soybeans up 3% on Tuesday. The deal won’t impact the total volume, but it
makes for good headlines which will likely provide price support for North
American soybeans.
WHEAT
Wheat is up in Chicago following a weak dollar which signaled volatility. Light
precipitation in the form of rain and snow is expected in the US Southern Plains
region over the next week. Saudi Arabia announced a tender to buy 330,000 tons
of hard wheat for shipment in May and June. Meanwhile, Ukraine has no plans to
curb exports of grain despite risks of crop loss due to adverse winter weather.
Contract prices for February 15, 2012 at close, are as follows:
SWW at $226.92 per tonne ($6.18 /bu.), HRW at $258.13 per tonne ($7.03 /bu.),
HRS at $281.26 per tonne ($7.65 /bu.), and SRW at $234.26 per tonne ($6.38
/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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