[Farmmarketnews] Wednesday Ontario Commodity Report & Ahmed Chilmeran Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Feb 29 15:59:07 EST 2012
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, February 29
(All Bases in CAD)
Bank of Canada Noon exchange rate was 0.9899 down 0.0057
Chicago corn closed slightly higher.
MAY12 HI 6.61 1/2 DEC12 HI 5.69 3/4
LOW 6.53 1/4 LOW 5.61
CLOSE6.58 Up 3/4 CLOSE 5.68 1/2 Up 5
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +MAY12+JUL12+JUL12
CK Low -0.45 6.13 241.33 -0.70 4.99 196.25
CK High -0.39 6.19 243.69 -0.65 5.04 198.22
CK Avg -0.43 -0.36 6.15 242.05 -0.69 -0.64 4.99 196.58
Essex Cty -0.40 6.18 243.30 -0.80 4.89 192.31
Mdsx Low -0.45 6.13 241.33 -0.70 4.99 196.25
Mdsx High -0.45 6.13 241.33 -0.70 4.99 196.25
Mdsx Avg -0.45 -0.38 6.13 241.33 -0.70 -0.65 4.99 196.25
Hensall -0.43 6.16 242.31 -0.68 5.01 197.23
Bruce -0.45 6.13 241.33 -0.70 4.99 196.25
Putnam -0.45 6.13 241.33 -0.70 4.99 196.25
Burford -0.45 6.13 241.33 -0.70 4.99 196.25
Port Perry -0.45 6.13 241.33 -0.70 4.99 196.25
Norfolk -0.39 6.19 243.69 -0.70 4.99 196.25
Palmerston -0.40 6.18 243.30 -0.65 5.04 198.22
Varna -0.40 6.18 243.30 -0.65 5.04 198.22
Trenton -0.15 6.43 253.14 -0.65 5.04 198.22
Winchester N/A N/A
North Gower -0.18 6.40 251.96 -0.68 5.01 197.04
Huron FOB -0.35 6.23 245.26 -0.60 5.09 200.19
Kent FOB -0.39 6.19 243.69 -0.70 4.99 196.25
Lamb FOB -0.39 6.19 243.69 -0.70 4.99 196.25
Mdsx FOB -0.40 -0.35 -0.30 -0.30 6.18 243.30 -0.65 5.04 198.22
FOB SW Que 0.00 6.58 259.04 -0.40 5.29 208.06
Track -0.03 6.56 258.06N/A
PROCESSORS
Chat-Eth N/A N/A N/A N/A -0.65 5.04 198.22
Jhnstwn-Eth 0.20 0.25 0.30 0.35 6.78 266.92 -0.55 5.14 202.16
Aylmer-Eth -0.25 -0.20 -0.20 -0.15 6.33 249.20 -0.50 5.19 204.12
Sarn-Eth -0.10 0.00 0.05 0.05 6.48 255.11N/A
Cllngwd-Eth N/A N/A N/A N/A -0.30* 5.39 212.00
London-Cas N/A 0.00 0.10 0.10 -0.40 5.29 208.06
Pt.Colb-Cas N/A N/A N/A 0.20 -0.35 5.34 210.03
Cardnl-Cas 0.25 0.30 0.20 0.20 6.83 268.89 -0.35 5.34 210.03
W O Feed 0.15 0.16 6.73 264.87
US Rep 0.70 0.71 7.28 286.60
Toledo El. 0.10 6.68 262.94 -0.38 5.31 208.98
TRANSFER
Sarnia N/A N/A
Pt. Stanley N/A N/A
Hamilton -0.19 6.39251 4/7 -0.47 5.22205 1/3
MID SD CRN -0.42 6.16
HI SD CRN -0.39 6.19
*Wet Bid
Bank of Canada Noon exchange rate was 0.9899 down 0.0057
Chicago soybeans closed slightly higher.
MAY12 HI 13.24 1/4 NOV12 HI 12.93 3/4
LOW 13.08 LOW 12.82 1/2
CLOSE13.20 Up 7 1/2 CLOSE 12.89 Up 1/2
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +MAY1+JUL1+JUL12
CK Low -0.75 12.45 457.46-0.87 12.02 441.66
CK High -0.70 12.50 459.30-0.80 12.09 444.23
CK Average -0.73 -0.5912.47 458.19-0.84-0.7212.06 442.95
Essex Cty -0.61 12.59 462.60-0.66 12.23 449.38
Mdsx Low -0.75 12.45 457.46-0.88 12.01 441.29
Mdsx High -0.73 12.47 458.19-0.80 12.09 444.23
Mdsx Average -0.74 -0.6012.46 457.83-0.84-0.7312.05 442.76
Hensall -0.73 12.48 458.38-0.83 12.07 443.31
Bruce -0.80 12.40 455.62-0.85 12.04 442.39
Putnam -0.75 12.45 457.46-0.80 12.09 444.23
Burford -0.70 12.50 459.30-0.85 12.04 442.39
Port Perry -0.76 12.44 457.09-0.91 11.98 440.19
Norfolk -0.69 12.51 459.66-0.79 12.10 444.60
Palmerston -0.50 12.70 466.65-0.75 12.14 446.07
Varna -0.50 12.70 466.65-0.75 12.14 446.07
Trenton -0.78 12.42 456.36-0.85 12.04 442.39
Winchester N/A N/A
North Gower -0.81 12.39 455.25-0.64 12.25 450.11
Huron FOB -0.55 12.65 464.81-0.70 12.19 447.91
Kent FOB -0.73 12.47 458.19-0.84 12.05 442.76
Lambton FOB -0.73 12.47 458.19-0.84 12.05 442.76
Middlesex FOB-0.67-0.60-0.57 N/A 12.53 460.40-0.71 12.18 447.54
PROCESSORS
Hamilton -0.30-0.25-0.25-0.20 12.90 473.99-0.25 12.64 464.44
Windsor -0.38-0.38-0.37 N/A 12.82 471.05-0.43 12.46 457.83
Winchester -0.68 12.52 460.03-0.56 12.33 453.05
TRANSFER
Hamilton -0.30 N/A N/A N/A 12.90 473.99-0.35 12.54 460.77
Pt. Stanley N/A N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC -0.35 12.85 472.16-0.05 12.84 471.79
Toledo El. -0.13 13.07 480.29-0.38 12.51 459.78
Bank of Canada Noon exchange rate was 0.9899 down 0.0057
Chicago wheat closed narrowly mixed.
MAY12 HI 6.74 1/2 JUL12 HI 6.85
LOW 6.60 1/4 LOW 6.71 1/2
CLOSE 6.68 Down 1/4 CLOSE 6.80 1/2 Up 1
Minni wheat closed slightly higher.
MAY12 HI 8.14 SEP12 HI 8.02
LOW 8.04 1/4 LOW 7.94
CLOSE 8.11 Up 2 1/4 CLOSE 7.98 1/2 Up 2 1/4
GFO Cash Wheat Prices - DEL Terminal
Current Crop 11 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.17 0.67 0.03 -0.58
CAD $/bu 6.51 7.35 6.71 7.53
CAD $/tonne 239.19 270.09 246.46 276.63
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 0.50 -0.14 N/A N/A 0.36 -0.39 N/A
London -0.22 0.33 -0.27 N/A -0.07 0.33 -0.46 N/A
Hensall -0.15 N/A -0.15 N/A 0.00 N/A -0.35 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 N/A
Essex N/A N/A -0.32 N/A N/A N/A -0.50 N/A
Norwich -0.15 N/A -0.15 N/A 0.00 N/A -0.35 N/A
Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A
Kent Bridge -0.15 N/A -0.15 N/A 0.00 N/A -0.35 N/A
Chatham N/A N/A N/A N/A N/A 0.29 -0.46 N/A
Brigden N/A N/A N/A N/A N/A 0.29 -0.46 N/A
Palmerston N/A 0.61 -0.18 -0.48 N/A 0.42 -0.37 -0.82
Varna -0.20 0.45 -0.20 N/A -0.20 0.60 -0.30 N/A
Mitchell -0.15 0.50 -0.15 N/A 0.00 0.55 -0.35 N/A
Thornton N/A N/A N/A -0.37 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 0.15 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 0.28N/A N/A 0.93 0.34N/A
Toledo El. 6.72US 6.65CA 6.83US 6.77CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.04 0.68 -0.16 -0.37
CAD $/bu 6.85 7.49 6.65 7.62
CAD $/tonne 251.53 275.20 244.24 279.94
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
Bayport Wheat 300.00 - 312.00
Bayport Oats 320.00
Bayport Barley 295.00
FOB Hm Soymeal 411.06
DDG's FOB Srn, Wndr, Aylm 175.00 - 195.00
Wednesday February 29, 2012
Commodity
Period
Price
Weekly Movement - Wednesday to Friday
Corn CBOT
Mar
6.5650
↑
21.00
cents
Soybeans CBOT
Jan
13.1350
↑
34.50
cents
Wheat CBOT
Mar
6.6425
↑
29.75
cents
Wheat Minn.
Mar
8.0375
↑
13.00
cents
Wheat Kansas
Mar
6.9900
↑
26.25
cents
Canadian $
Mar
1.0114
↑
104.00
points
The European Central Bank (ECB) lent €529 billion ($US 712 billion) to 800
banks at 1% interest. Last December, the ECB loaned €489 billion to 523
banks.Italian and Spanish banks were the majority consumers of the ECB bargain
loans in December. Together, they absorbed €215 billion of ECB liquidity; it’s
likely the Spanish and Italians are the leading borrowers this time around, with
the Greek banks being minority participants in the auction, because of the
ECB’s decision to suspend Greek government securities in ECB refinancing
operations.The loonie hit its highest mark in almost six months on Wednesday,
upon positive US economic data and the move by the ECB to stabilize Europe's
troubled banking sector.
CORN
Corn futures are rose in Chicago from support of a weaker US dollar.Argentine
and Brazilian corn production estimates continue to drop on analyst’s
assessments. The USDA will render an opinion for South American production
beginning of March.According to the CME Group, Ukrainian Agriculture Minister
sees a sharp rise in corn plantings this season to near 25% from last year.
SOYBEANS
Soybean rose in Chicago to a five month high. According to think tank Oil
World, global soybean output this year is set for a record drop of 7.2%, or 19
million tonnes, mainly due to bad weather conditions in key growing areas of
South America. Soy crushers in China have increased output in recent weeks
because of improved crushing margins, which should boost soy imports according
to various sources. The rise in soybean prices could prompt North American
farmers to increase soy acreage on the expense of corn planting this year.
WHEAT
Wheat futures rose in Chicago on speculation that soft red winter wheat futures
were expected to be short covered or bought back by speculators who have built a
bearish bet on wheat. Spring wheat's rebound from a near 15 month low last week
has been muted by improving crop weather in key growing areas of the US. Wheat
exports from India, the world’s second biggest producer, is expected to more
than double to 1.5 million tonnes in the 2012-13 marketing year on account of
back-to-back record harvest according to the USDA.
Contract prices for February 29, 2012 at close, are as follows:
SWW at $237.68 per tonne ($6.47/bu.), HRW at $268.56 per tonne ($7.31 /bu.),
HRS at $273.83 per tonne ($7.45 /bu.), and SRW at $244.94 per tonne ($6.67
/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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