[Farmmarketnews] Friday Ontario Commodity Report & Ahmed Chilmeran Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Fri Jul 6 15:49:14 EDT 2012
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Fri, July 6
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.0199 up 0.0068
Chicago corn closed lower.
SEP12 HI 7.08 DEC12 HI 7.07 3/4
LOW 6.89 1/4 LOW 6.87 3/4
CLOSE6.95 1/4 Down 13 1/2 CLOSE 6.93 Down 15 1/2
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +SEP12+SEP12+DEC12
CK Low -0.15 6.80 267.80 -0.95 5.98 235.42
CK High 0.05 7.00 275.68 -0.90 6.03 237.39
CK Avg 0.02 -0.13 6.97 274.36 -0.94 -1.10 5.99 235.75
Essex Cty 0.00 6.95 273.71 -0.90 6.03 237.39
Mdsx Low -0.15 6.80 267.80 -0.95 5.98 235.42
Mdsx High 0.05 7.00 275.68 -0.95 5.98 235.42
Mdsx Avg -0.05 -0.20 6.90 271.74 -0.95 -1.11 5.98 235.42
Hensall 0.05 7.00 275.68 -0.95 5.98 235.42
Bruce 0.05 7.00 275.68 -0.95 5.98 235.42
Putnam 0.05 7.00 275.68 -0.95 5.98 235.42
Burford -0.15 6.80 267.80 -0.95 5.98 235.42
Port Perry -0.15 6.80 267.80 -0.95 5.98 235.42
Norfolk 0.05 7.00 275.68 -0.95 5.98 235.42
Palmerston 0.05 7.00 275.68 -0.95 5.98 235.42
Varna 0.10 7.05 277.64 -0.90 6.03 237.39
Trenton 0.20 7.15 281.58 -0.85 6.08 239.36
Winchester 0.10 7.05 277.64 -0.70 6.23 245.26
North Gower 0.10 7.05 277.64 -0.97 5.96 234.63
Huron FOB 0.10 7.05 277.64 -0.95 5.98 235.42
Kent FOB 0.05 7.00 275.68 -0.95 5.98 235.42
Lamb FOB 0.05 7.00 275.68 -0.95 5.98 235.42
Mdsx FOB -0.15 -0.15N/A N/A 6.80 267.80 -0.95 5.98 235.42
FOB SW Que 0.45 7.40 291.42 -0.45 6.48 255.11
Track 0.60 7.55 297.33N/A
PROCESSORS
Chat-Eth N/A N/A N/A N/A -0.95 5.98 235.42
Jhnstwn-Eth N/A N/A N/A N/A -0.75 6.18 243.30
Aylmer-Eth -0.10 -0.10 -0.05 -0.60 6.85 269.77 -0.60 6.33 249.20
Sarn-Eth N/A N/A 0.25 -0.65 -0.65 6.28 247.23
Cllngwd-Eth N/A N/A N/A N/A N/A*
London-Cas N/A N/A 0.75 0.65 -0.70 6.23 245.26
Pt.Colb-Cas N/A 0.65 0.80 -0.60 -0.65 6.28 247.23
Cardnl-Cas N/A 0.70 0.85 -0.60 -0.65 6.28 247.23
W O Feed 0.64 0.62 7.59 298.90
US Rep 0.61 0.59 7.56 297.72
Toledo El. 0.33 7.28 286.58 -0.24 6.69 263.56
TRANSFER
Sarnia N/A N/A
Pt. Stanley N/A N/A
Hamilton 0.40 7.35289 1/2 -0.55 6.38251 1/6
MID SD CRN -0.92 1/2 6.00 1/2
HI SD CRN -0.90 6.031
*Wet Bid
Bank of Canada Noon exchange rate was 1.0199 up 0.0068
Chicago soybeans closed moderately lower.
AUG12 HI 15.83 NOV12 HI 15.26
LOW 15.61 3/4 LOW 15.04 1/2
CLOSE15.67 1/4 Down 15 3/4 CLOSE 15.05 3/4 Down 20 3/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +AUG1+NOV1+NOV12
CK Low -0.44 15.23 559.70-0.56 14.50 532.69
CK High -0.33 15.34 563.74-0.40 14.66 538.57
CK Average -0.40 -0.7315.28 561.35-0.52-0.8714.54 534.28
Essex Cty -0.04 15.63 574.40-0.21 14.85 545.55
Mdsx Low -0.43 15.24 560.07-0.55 14.51 533.06
Mdsx High -0.40 15.27 561.17-0.54 14.52 533.43
Mdsx Average -0.42 -0.7515.26 560.62-0.55-0.9014.51 533.24
Hensall -0.38 15.30 562.09-0.55 14.51 533.06
Bruce -0.40 15.27 561.17-0.55 14.51 533.06
Putnam -0.40 15.27 561.17-0.55 14.51 533.06
Burford -0.43 15.24 560.07-0.54 14.52 533.43
Port Perry -0.46 15.21 558.96-0.57 14.49 532.32
Norfolk -0.29 15.38 565.21-0.49 14.57 535.26
Palmerston -0.45 15.22 559.33-0.65 14.41 529.39
Varna -0.40 15.27 561.17-0.60 14.46 531.22
Trenton -0.57 15.10 554.92-0.50 14.56 534.90
Winchester -0.62 15.05 553.08-0.40 14.66 538.57
North Gower -0.29 15.38 565.21-0.35 14.71 540.41
Huron FOB -0.25 15.42 566.68-0.45 14.61 536.73
Kent FOB -0.33 15.34 563.74-0.54 14.52 533.43
Lambton FOB -0.33 15.34 563.74-0.54 14.52 533.43
Middlesex FOB-0.27-0.12 N/A N/A 15.40 565.94-0.31 14.75 541.88
PROCESSORS
Hamilton 0.10 0.45 0.60 0.20 15.77 579.540.20 15.26 560.62
Windsor 0.19 0.10 N/A N/A 15.86 582.850.02 15.08 554.00
Winchester -0.51 15.16 557.13-0.23 14.83 544.82
TRANSFER
Hamilton 0.20 N/A N/A N/A 15.87 583.210.15 15.21 558.78
Pt. Stanley N/A N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC 0.05 15.72 577.700.20 15.26 560.62
Toledo El. 0.12 15.80 580.37-0.29 14.77 542.74
Bank of Canada Noon exchange rate was 1.0199 up 0.0068
Chicago wheat closed lower.
SEP12 HI 8.37 JUL13 HI 8.40 1/4
LOW 8.04 LOW 8.12
CLOSE 8.06 1/4 Down 31 3/4 CLOSE 8.17 3/4 Down 26 1/2
Minni wheat closed moderately lower to lower.
SEP12 HI 9.33 SEP13 HI 8.70
LOW 9.01 1/2 LOW 8.70
CLOSE 9.04 1/2 Down 26 1/4 CLOSE 8.70 Down 12
GFO Cash Wheat Prices - DEL Terminal
Current Crop 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.22 0.58 -0.24 -0.52
CAD $/bu 8.29 8.64 7.83 8.52
CAD $/tonne 304.48 317.61 287.59 313.20
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 0.10 -0.55 N/A N/A 0.00 -0.70 N/A
London -0.20 0.06 -0.55 N/A -0.22 0.03 -0.78 N/A
Hensall 0.05 N/A -0.55 N/A -0.25 N/A -0.70 N/A
Trenton N/A N/A -0.65 N/A N/A N/A -0.95 N/A
Winchester N/A N/A N/A -0.38 N/A N/A N/A N/A
Essex N/A N/A -0.52 N/A N/A N/A -0.63 N/A
Norwich -0.05 N/A -0.55 N/A -0.25 N/A -0.70 N/A
Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A
Kent Bridge -0.05 N/A -0.60 N/A -0.25 N/A -0.80 N/A
Chatham N/A 0.10 -0.57 N/A N/A 0.00 -0.77 N/A
Brigden N/A 0.10 -0.57 N/A N/A 0.00 -0.77 N/A
Palmerston N/A 0.07 -0.74 -0.59 N/A -0.08 -0.89 -0.64
Varna 0.00 0.15 -0.55 N/A N/A 0.00 -0.80 N/A
Mitchell -0.05 0.20 -0.55 N/A -0.25 0.15 -0.70 N/A
Thornton N/A N/A N/A N/A N/A N/A N/A N/A
North Gower N/A N/A N/A -0.49 N/A N/A N/A N/A
TERMINAL
Sarnia N/A N/A N/A N/A N/A N/A N/A N/A
Hamilton N/A N/A -0.55 N/A N/A N/A -0.40 N/A
Pt. Stanley N/A N/A N/A N/A N/A N/A N/A N/A
PROCESSORS
Toledo FM 0.58 1.19 0.38N/A N/A N/A 0.40N/A
Toledo El. 8.13US 8.31CA 8.20US 8.39CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 13 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.04 0.45 -0.32
CAD $/bu 8.21 8.62 7.86
CAD $/tonne 301.84 316.88 288.68
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
Bayport Wheat 335.00 - 340.00
Bayport Oats 330.00
Bayport Barley 330.00
FOB Hm Soymeal 558.33 - 563.84
DDG's FOB Srn, Wndr, Aylm 220.00 - 225.00
Friday July 6. 2012
Commodity
Period
Price
Weekly Movement - Thursday to Friday
Corn CBOT
Sep
6.9375
↑
19.75
cents
Soybeans CBOT
Aug
15.7150
↑
42.00
cents
Wheat CBOT
Sep
8.1600
↑
16.75
cents
Wheat Minn.
Sep
9.2100
↑
23.50
cents
Wheat Kansas
Sep
8.2300
↑
20.50
cents
Canadian $
Sep
0.9790
↓
61.00
points
The loonie strengthened to a two year high against the euro after the European
Central Bank (ECB) cut key interest rates by 25 basis points to a record 0.75%
to stimulate the economies. The loonie reached a seven week high over its US
counterpart, as better than anticipated job growth statistics in the US
surfaced. The Bank of England in an attempt to simulate the economy launched a
monetary stimulus highlighting its intention to purchase 50 billion pounds of
government bonds with the newly created money to help the economy out of the
sticky situation. China, while still enjoying an 8% growth rate is not without
its challenges in managing a lower growth in the economy compared to the
pre-recession levels. The difficulties stem from finding a balance in
maintaining lower interest rates in the short run to prevent a sudden dive in
the economy while preventing long run inflationary effects on commodities which
can cause political unrest. China cut its key lending rate for a second time in
one month in an effort to reverse the signs of the global crisis and maintain a
strong hold for its ruling party
CORN
Corn rose in Chicago extending one of its biggest rallies ever. Weather
forecasts offer no signs of rain as the crop remains at the mercy of a
persistent drought. Traders shrugged the bearish influence of a rising US dollar
and shifted focus to capitalize on what appears to be strong signs of a
shrinking crop. Corn prices have experienced mere 30% growth over the past two
weeks. This may bring some unwanted attention as food inflation continues to
become a hot topic.
SOYBEANS
Soybean rose in Chicago over the past week to its highest since an early 2008
record as traders fear of the drought becomes a clearer reality. Global supplies
have already been strained by similar weather conditions in Brazil and
Argentina. Traders will be watching the upcoming July 11th USDA reports with
keen interest as reductions in the numbers are a likely scenario.
WHEAT
Wheat rose in Chicago tracking the surge in corn prices due to the overwhelming
weather conditions in the Midwest. With soaring prices come the rising issues of
food security, which are back to the attention of world leaders after record
high food prices in early 2011 contributed to the protests in the Middle East
and North Africa. China, the second largest economy has taken measures to buffer
inflationary effects of rising commodities by managing lower interest rates.
Contract prices for July 6th 2012 at noon, are as follows:
SWW at $307.9 per tonne ($8.38/bu.), HRW at $321.04 per tonne ($8.74 /bu.),
HRS at $319.73 per tonne ($8.70/bu.), and SRW at $291.01 per tonne
($7.92/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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