[Farmmarketnews] Wednesday Ontario Commodity Report & Ahmed Chilmeran Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Jul 11 16:19:01 EDT 2012
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, July 11
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.0195 down 0.0008
Chicago corn closed lower.
SEP12 HI 7.49 DEC12 HI 7.48
LOW 6.85 1/2 LOW 6.85 1/4
CLOSE7.04 Down 14 1/2 CLOSE 7.04 Down 13 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 -0.20 6.84 269.28 -0.95 6.09 239.75
CK High -0.10 6.94 273.22 -0.90 6.14 241.72
CK Avg -0.15 -0.31 6.89 271.25 -0.92 -1.09 6.12 241.06
Essex Cty -0.20 6.84 269.28 -0.90 6.14 241.72
Mdsx Low -0.20 6.84 269.28 -0.95 6.09 239.75
Mdsx High -0.10 6.94 273.22 -0.90 6.14 241.72
Mdsx Avg -0.15 -0.31 6.89 271.25 -0.93 -1.10 6.12 240.74
Hensall -0.10 6.94 273.22 -0.95 6.09 239.75
Bruce -0.10 6.94 273.22 -0.95 6.09 239.75
Putnam -0.10 6.94 273.22 -0.95 6.09 239.75
Burford -0.20 6.84 269.28 -0.90 6.14 241.72
Port Perry 0.00 7.04 277.15 -0.90 6.14 241.72
Norfolk -0.20 6.84 269.28 -0.90 6.14 241.72
Palmerston -0.15 6.89 271.25 -1.05 5.99 235.82
Varna -0.10 6.94 273.22 -0.95 6.09 239.75
Trenton 0.15 7.19 283.06 -0.90 6.14 241.72
Winchester 0.30 7.34 288.96 -0.75 6.29 247.63
North Gower 0.10 7.14 281.09 -0.95 6.09 239.75
Huron FOB -0.10 6.94 273.22 -0.95 6.09 239.75
Kent FOB -0.20 6.84 269.28 -0.90 6.14 241.72
Lamb FOB -0.20 6.84 269.28 -0.90 6.14 241.72
Mdsx FOB N/A 0.00N/A N/A -0.90 6.14 241.72
FOB SW Que 0.30 7.34 288.96 -0.60 6.44 253.53
Track 0.40 7.44 292.90N/A
PROCESSORS
Chat-Eth N/A N/A N/A N/A -0.95 6.09 239.75
Jhnstwn-Eth N/A N/A N/A N/A -0.75 6.29 247.63
Aylmer-Eth -0.10 -0.10 -0.05 -0.60 6.94 273.22 -1.00 6.04 237.78
Sarn-Eth N/A N/A 0.00 -0.70 -0.70 6.34 249.59
Cllngwd-Eth N/A N/A N/A N/A N/A*
London-Cas N/A N/A 0.60 -0.75 -0.65 6.39 251.56
Pt.Colb-Cas N/A 0.65 0.70 -0.70 -0.60 6.44 253.53
Cardnl-Cas N/A N/A 0.70 -0.70 -0.60 6.44 253.53
W O Feed 0.50 0.48 7.54 296.84
US Rep 0.61 0.59 7.65 301.17
Toledo El. 0.33 7.37 290.04 -0.24 6.80 267.87
TRANSFER
Sarnia N/A N/A
Pt. Stanley N/A N/A
Hamilton 0.35 7.39291 -0.60 6.44253 1/2
MID SD CRN -0.92 1/2 6.11 1/2
HI SD CRN -0.90 6.14
*Wet Bid
Bank of Canada Noon exchange rate was 1.0195 down 0.0008
Chicago soybeans closed moderately lower to lower.
AUG12 HI 16.25 NOV12 HI 15.75
LOW 15.53 LOW 15.05 1/4
CLOSE15.71 1/2 Down 19 CLOSE 15.22 1/2 Down 16
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +AUG1+NOV1+NOV12
CK Low -0.40 15.32 562.73-0.60 14.63 537.38
CK High -0.30 15.42 566.40-0.45 14.78 542.89
CK Average -0.35 -0.7115.37 564.57-0.55-0.9214.68 539.34
Essex Cty -0.02 15.70 576.69-0.19 15.04 552.44
Mdsx Low -0.40 15.32 562.73-0.60 14.63 537.38
Mdsx High -0.35 15.37 564.57-0.46 14.77 542.52
Mdsx Average -0.38 -0.7315.34 563.65-0.53-0.9114.70 539.95
Hensall -0.38 15.34 563.65-0.60 14.63 537.38
Bruce -0.35 15.37 564.57-0.60 14.63 537.38
Putnam -0.37 15.35 563.83-0.60 14.63 537.38
Burford -0.40 15.32 562.73-0.46 14.77 542.52
Port Perry -0.43 15.29 561.63-0.49 14.74 541.42
Norfolk -0.30 15.42 566.40-0.55 14.68 539.21
Palmerston -0.50 15.22 559.06-0.70 14.53 533.70
Varna -0.40 15.32 562.73-0.60 14.63 537.38
Trenton -0.55 15.17 557.22-0.55 14.68 539.21
Winchester -0.54 15.18 557.59-0.41 14.82 544.36
North Gower -0.47 15.25 560.16-0.28 14.95 549.13
Huron FOB -0.30 15.42 566.40-0.50 14.73 541.05
Kent FOB -0.34 15.38 564.93-0.60 14.63 537.38
Lambton FOB -0.34 15.38 564.93-0.60 14.63 537.38
Middlesex FOB-0.29-0.19 N/A N/A 15.43 566.77-0.29 14.94 548.77
PROCESSORS
Hamilton 0.40 0.70 0.45 0.10 16.12 592.120.10 15.33 563.10
Windsor 0.21 0.12 N/A N/A 15.93 585.140.04 15.27 560.89
Winchester -0.52 15.20 558.32-0.30 14.93 548.40
TRANSFER
Hamilton 0.15 N/A N/A N/A 15.87 582.940.20 15.43 566.77
Pt. Stanley N/A N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC 0.00 15.72 577.430.20 15.43 566.77
Toledo El. 0.02 15.74 578.18-0.29 14.94 548.88
Bank of Canada Noon exchange rate was 1.0195 down 0.0008
Chicago wheat closed mixed.
SEP12 HI 8.48 1/2 JUL13 HI 8.41 1/4
LOW 8.03 1/4 LOW 7.98
CLOSE 8.26 1/4 Up 5 CLOSE 8.20 1/4 Down 3
Minni wheat closed mixed.
SEP12 HI 9.39 SEP13 HI 8.75
LOW 9.03 LOW 8.61 3/4
CLOSE 9.20 Up 2 CLOSE 8.61 3/4 Down 8 1/4
GFO Cash Wheat Prices - DEL Terminal
Current Crop 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.09 0.44 -0.37 -0.61
CAD $/bu 8.35 8.71 7.89 8.59
CAD $/tonne 306.73 319.88 289.82 315.65
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 0.08 -0.65 N/A N/A 0.05 -0.80 N/A
London -0.20 0.06 -0.61 N/A -0.19 0.01 -0.75 N/A
Hensall -0.10 N/A -0.65 N/A -0.25 N/A -0.80 N/A
Trenton N/A N/A -0.80 N/A N/A N/A -1.00 N/A
Winchester N/A N/A N/A -0.69 N/A N/A N/A N/A
Essex N/A N/A -0.57 N/A N/A N/A -0.78 N/A
Norwich -0.10 N/A -0.65 N/A -0.25 N/A -0.80 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 -0.60 N/A -0.25 N/A -0.75 N/A
Chatham N/A 0.06 -0.64 N/A N/A -0.05 -0.79 N/A
Brigden N/A 0.06 -0.64 N/A N/A -0.05 -0.79 N/A
Palmerston N/A 0.14 -0.68 -0.53 N/A -0.02 -0.84 -0.58
Varna 0.00 0.05 -0.65 N/A N/A 0.00 -0.80 N/A
Mitchell -0.10 0.10 -0.65 N/A -0.25 0.05 -0.80 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 -0.64 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 -0.65 N/A N/A N/A N/A N/A
Pt. Stanley N/A N/A N/A N/A N/A N/A N/A N/A
PROCESSORS
Toledo FM 0.60 1.21 0.39N/A N/A N/A 0.41N/A
Toledo El. 8.33US 8.52CA 8.22US 8.43CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 13 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.10 0.31 -0.46
CAD $/bu 8.10 8.51 7.74
CAD $/tonne 297.57 312.63 284.39
(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 572.44 - 577.95
DDG's FOB Srn, Wndr, Aylm 230.00 - 240.00
Wednesday July 11. 2012
Commodity
Period
Price
Weekly Movement - Thursday to Friday
Corn CBOT
Sep
6.9575
↑
2.00
cents
Soybeans CBOT
Aug
15.5925
↓
12.25
cents
Wheat CBOT
Sep
8.1375
↓
2.25
cents
Wheat Minn.
Sep
9.0800
↓
13.00
cents
Wheat Kansas
Sep
8.3100
↑
8.00
cents
Canadian $
Sep
0.9773
↓
17.00
points
The loonie spiked ahead of the release of the minutes from the latest Federal
Reserve meeting, as traders speculated about the likelihood the Federal Reserve
is considering another round of economic stimulus. The US Central Bank seems to
be following suit after other international central banks have moved recently
with a follow up round of stimulus to keep the global economy afloat. The
European Central Bank and the People's Bank of China cut lending rates last
week, shifting gears to manage lower growth and a weaker job market. Meanwhile,
Spain unveiled new austerity measures outlining 65 billion euros in budget cuts
to manage the public deficit by 2014. The Spanish prime minister indicated that
sales tax increases, cuts in unemployment benefits and public service salaries
are some of the unpleasant but necessary measures implemented.
CORN
Corn fell in Chicago following the USDA report. The USDA projected US corn
yield to be 20 bu/acre lower to 146 bu/acre reflecting the rapid decline in crop
conditions since early June and the latest weather data. Persistent dryness
across the Corn Belt and the heat from the central Plains has substantially
lowered yield prospects across most of the region. Reduced supplies and higher
prices are expected to sharply lower 2012-13 corn usage with the biggest
reduction in the feed sector. Global 2012-13 trade is projected lower mostly
reflecting lower corn exports from the US.
SOYBEANS
Soybean fell in Chicago following the USDA report. The USDA estimated soybean
production to be 3.050 billion bushels, down 155 million as increased harvested
area is more than offset by reduced yields. Global supplies are 5.1 million tons
lower to 465.7 million tons. Global soybean production is projected at 267.2
million tons, down 3.9 million mostly due to lower production in the US.
WHEAT
Wheat fell in Chicago following the USDA report. The USDA projected US wheat
supplies for 2012-13 to be 5 million bushels higher with estimated beginning
stocks offsetting lower forecast production. Global wheat supplies for 2012-13
are reduced 5.1 million tons with lower world production. World production is
lowered 6.7 million tons with Russia and China accounting for most of the
reduction. Russia’s production is expected to have lower yields for winter
wheat and lower area and yield prospects for spring wheat. Canada’s production
is also lowered slightly based on lower reported plantings according to
Statistics Canada’s latest survey.
Contract prices for July 11th 2012 at 3pm, are as follows:
SWW at $306.46 per tonne ($8.34/bu.), HRW at $319.60 per tonne ($8.70 /bu.),
HRS at $315.37 per tonne ($8.58/bu.), and SRW at $289.56 per tonne
($7.88/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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