[Farmmarketnews] Wednesday Ontario Commodity Report & Ahmed Chilmeran Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Jan 18 15:19:45 EST 2012
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, January 18
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.014 up 0.0008
Chicago corn closed moderately lower.
MAR12 HI 6.06 1/2 DEC12 HI 5.60 1/2
LOW 5.92 1/2 LOW 5.48 1/4
CLOSE5.93 1/2 Down 10 1/2 CLOSE 5.48 3/4 Down 8
3/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +MAR12+MAY12+MAY12
CK Low -0.35 5.59 219.87 -0.55 4.94 194.38
CK High -0.25 5.69 223.81 -0.52 4.97 195.56
CK Avg -0.30 -0.38 5.64 221.84 -0.55 -0.63 4.94 194.58
Essex Cty -0.30 5.64 221.84 -0.60 4.89 192.41
Mdsx Low -0.30 5.64 221.84 -0.55 4.94 194.38
Mdsx High -0.30 5.64 221.84 -0.55 4.94 194.38
Mdsx Avg -0.30 -0.38 5.64 221.84 -0.55 -0.64 4.94 194.38
Hensall -0.30 5.64 221.84 -0.55 4.94 194.38
Bruce -0.30 5.64 221.84 -0.55 4.94 194.38
Putnam -0.30 5.64 221.84 -0.55 4.94 194.38
Burford -0.30 5.64 221.84 -0.55 4.94 194.38
Port Perry -0.30 5.64 221.84 -0.55 4.94 194.38
Norfolk -0.25 5.69 223.81 -0.52 4.97 195.56
Palmerston -0.30 5.64 221.84 -0.50 4.99 196.35
Varna -0.30 5.64 221.84 -0.50 4.99 196.35
Trenton -0.10 5.84 229.71 -0.45 5.04 198.32
Winchester -0.05 5.89 231.68 -0.45 5.04 198.32
North Gower 0.00 5.94 233.65 -0.40 5.09 200.29
Huron FOB -0.15 5.79 227.75 -0.50 4.99 196.35
Kent FOB -0.25 5.69 223.81 -0.52 4.97 195.56
Lamb FOB -0.25 5.69 223.81 -0.52 4.97 195.56
Mdsx FOB -0.30 -0.25 -0.25 -0.20 5.64 221.84 -0.55 4.94 194.38
FOB SW Que 0.15 6.09 239.56 -0.25 5.24 206.19
Track 0.13 6.06 238.57N/A
PROCESSORS
Chat-Eth N/A N/A N/A N/A N/A
Jhnstwn-Eth 0.20 0.20 0.20 0.25 6.14 241.52 -0.40 5.09 200.29
Aylmer-Eth N/A -0.10 -0.10 0.00 N/A
Sarn-Eth 0.00 0.05 0.00 0.05 5.94 233.65N/A
Cllngwd-Eth 0.10N/A N/A N/A 6.04 237.59-0.30* 5.19 204.22
London-Cas 0.00 0.00 0.00 0.10 5.94 233.65 -0.35 5.14 202.25
Pt.Colb-Cas 0.15 0.20 0.25 0.30 6.09 239.56 -0.30 5.19 204.22
Cardnl-Cas 0.25 0.30 0.25 0.30 6.19 243.49 -0.30 5.19 204.22
W O Feed 0.18 0.17 6.12 240.74
US Rep 0.70 0.69 6.64 261.21
Toledo El. -0.06 5.87 231.26 -0.44 5.05 198.83
TRANSFER
Sarnia N/A N/A
Pt. Stanley N/A N/A
Hamilton -0.07 5.87230 8/9 -0.30 5.19204 2/9
MID SD CRN -0.30 5.63 1/2
HI SD CRN -0.25 5.68 1/2
*Wet Bid
Bank of Canada Noon exchange rate was 1.014 up 0.0008
Chicago soybeans closed slightly lower to steady.
MAR12 HI 11.87 1/4 NOV12 HI 11.92 3/4
LOW 11.72 1/4 LOW 11.78 3/4
CLOSE11.83 1/2 Unchanged CLOSE 11.86 Down 3
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +MAR1+MAR1+MAY12
CK Low -0.60 11.24 412.82-0.80 11.06 406.39
CK High -0.52 11.32 415.76-0.75 11.11 408.22
CK Average -0.55 -0.7211.28 414.53-0.76-0.9511.10 407.73
Essex Cty -0.48 11.36 417.22-0.66 11.20 411.53
Mdsx Low -0.52 11.32 415.76-0.72 11.14 409.32
Mdsx High -0.50 11.34 416.49-0.70 11.16 410.06
Mdsx Average -0.51 -0.6711.33 416.12-0.71-0.9011.15 409.69
Hensall -0.53 11.31 415.57-0.73 11.14 409.14
Bruce -0.55 11.29 414.65-0.75 11.11 408.22
Putnam -0.50 11.34 416.49-0.70 11.16 410.06
Burford -0.46 11.38 417.96-0.66 11.20 411.53
Port Perry -0.55 11.29 414.65-0.75 11.11 408.22
Norfolk -0.47 11.37 417.59-0.72 11.14 409.32
Palmerston -0.55 11.29 414.65-0.75 11.11 408.22
Varna -0.60 11.24 412.82-0.80 11.06 406.39
Trenton -0.70 11.14 409.14-0.85 11.01 404.55
Winchester -0.73 11.11 408.04-0.67 11.19 411.16
North Gower -0.68 11.16 409.88-0.62 11.24 413.00
Huron FOB -0.40 11.44 420.16-0.70 11.16 410.06
Kent FOB -0.52 11.32 415.76-0.77 11.09 407.49
Lambton FOB -0.52 11.32 415.76-0.77 11.09 407.49
Middlesex FOB-0.38-0.38 N/A N/A 11.46 420.90-0.58 11.28 414.47
PROCESSORS
Hamilton -0.05-0.10-0.10-0.15 11.79 433.02-0.25 11.61 426.59
Windsor -0.25-0.21-0.21-0.30 11.59 425.68-0.43 11.43 419.98
Winchester -0.50 11.34 416.49-0.44 11.42 419.61
TRANSFER
Hamilton -0.20 N/A N/A N/A 11.64 427.51-0.25 11.61 426.59
Pt. Stanley N/A N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC -0.15 11.69 429.350.05 11.91 437.62
Toledo El. -0.27 11.56 424.81-0.59 11.27 414.13
Bank of Canada Noon exchange rate was 1.014 up 0.0008
Chicago wheat closed moderately lower.
MAR12 HI 6.06 1/2 JUL12 HI 6.49
LOW 5.90 LOW 6.31 1/4
CLOSE 5.92 1/4 Down 12 1/2 CLOSE 6.33 1/4 Down 15
Minni wheat closed slightly to moderately lower.
MAR12 HI 8.13 1/2 SEP12 HI 7.70
LOW 7.98 LOW 7.54 1/2
CLOSE 8.00 3/4 Down 7 3/4 CLOSE 7.56 Down 11 1/4
GFO Cash Wheat Prices - DEL Terminal
Current Crop 11 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.12 0.74 0.18 -0.30
CAD $/bu 5.80 6.66 6.10 7.71
CAD $/tonne 213.14 244.80 224.32 283.35
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 0.55 0.05 N/A N/A 0.55 -0.20 N/A
London -0.20 0.51 0.01 N/A N/A 0.52 -0.24 N/A
Hensall -0.10 N/A 0.05 N/A 0.05 N/A -0.20 N/A
Trenton N/A N/A N/A N/A N/A N/A -0.45 N/A
Winchester N/A N/A N/A N/A N/A N/A N/A -0.20
Essex N/A N/A -0.05 N/A N/A N/A -0.28 N/A
Norwich -0.10 N/A 0.05 N/A 0.05 N/A -0.20 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 0.05 N/A 0.05 N/A -0.20 N/A
Chatham N/A N/A N/A N/A N/A 0.60 -0.25 N/A
Brigden N/A N/A N/A N/A N/A 0.60 -0.25 N/A
Palmerston N/A 0.81 0.02 -0.43 N/A 0.53 -0.19 -0.47
Varna 0.00 0.75 0.00 N/A 0.10 0.75 -0.20 N/A
Mitchell -0.10 0.70 0.05 N/A 0.05 0.75 -0.20 N/A
Thornton N/A N/A N/A -0.77 N/A N/A N/A N/A
North Gower N/A N/A N/A N/A N/A N/A N/A -0.15
TERMINAL
Sarnia N/A N/A N/A N/A N/A N/A N/A N/A
Hamilton N/A N/A 0.70 N/A N/A N/A 0.10 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 0.49N/A 0.20 1.12 0.51N/A
Toledo El. 6.04US 6.13CA 6.35US 6.45CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.00 0.81 -0.20 0.17
CAD $/bu 6.33 7.14 6.13 7.73
CAD $/tonne 232.66 262.52 225.19 284.08
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
Bayport Wheat 290.00 - 302.00
Bayport Oats 295.00
Bayport Barley 285.00
FOB Hm Soymeal 371.49 - 375.89
DDG's FOB Srn, Wndr, Aylm 165.00 - 178.00
Friday January 6, 2011
Commodity
Period
Price
Weekly Movement - Wednesday to Friday
Corn CBOT
Mar
6.4800
↓
10.50
cents
Soybeans CBOT
Jan
12.0400
↓
17.50
cents
Wheat CBOT
Mar
6.3075
↓
19.25
cents
Wheat Minn.
Mar
8.1425
↓
24.75
cents
Wheat Kansas
Mar
6.8600
↓
28.00
cents
Canadian $
Mar
0.9758
↓
104.00
points
The IMF is seeking to boost its piggy bank by $600 billion to help member
countries reeling from the eurozone debt crisis. The IMF said in a statement it
will need $500 billion to lend and another $100 billion as a cushion. The IMF
currently has a lending capacity of about $380 billion. Emerging economies like
China and Brazil are willing to finance the Washington based lending authority
conditional on greater voting power to reflect their growing clout in the world
economy. Meanwhile, the Bank of Canada released a recent report quantifying the
spillover effect of the euro debt crisis. The report estimates that the euro
crisis is holding back national economic growth by about 0.6% or about $CAD 10
billion in GDP. The bank also predicts that European recession will last most of
2012, longer than it had predicted in its October report. How will these
predictions impact lending rates remains unknown? Some forecasts suggest the
economy will bounce back in the fall of 2013 and the current level of low
interest rate won’t remain for long. The IMF news saw the TSX higher on
Wednesday morning on rising resource and financial sector stocks. The loonie
followed suit with a rise over its American counter back.
CORN
Corn fell in Chicago on Wednesday to their lowest level in nearly a month as
rainstorms provided relief to the crops in Argentina.The crop friendly rainfall
and moderate temperatures are bringing life to the drought plagued Argentina.
South American estimates were initially cut below the levels made by the USDA in
its monthly supply and demand report last week. Weather forecasts suggest
showers throughout the week and revised crop estimates in the near future. The
fall in price is buffered by crop damage and a relatively weaker US dollar.
SOYBEANS
Soybean fell in Chicago following improved weather conditions in Argentina and
Brazil. The much anticipated showers saw global supply concerns ease over
soybean prospects. The fall in price is cushioned by crop damage and a
relatively weaker US dollar.
WHEAT
Wheat futures edged lower on Tuesday, as traders continued to monitor the La
Nina weather patterns in major wheat producing countries in South America ahead
of the anticipated USDA report on Thursday. European wheat futures edged higher
on Tuesday, gaining momentum from the rise in crude oil and equities markets and
export expectations linked to Algeria's tender to buy milling wheat later this
week.
Harvest contract prices for January 11, 2012 at close, are as follows:
SWW at $229.98 per tonne ($6.26/bu.), HRW at $261.98 per tonne ($7.13/bu.),
HRS at $291.54 per tonne ($7.93 /bu.), and SRW at $241.27 per tonne
($6.57/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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