[Farmmarketnews] Wednesday Ontario Commodity Report & Ahmed Chilmeran Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Jul 25 15:53:41 EDT 2012
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, July 25
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.0181 down 0.0027
Chicago corn closed slightly to moderately higher.
SEP12 HI 8.05 3/4 DEC12 HI 7.96
LOW 7.81 3/4 LOW 7.71
CLOSE7.94 1/2 Up 4 1/2 CLOSE 7.88 Up 9 3/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +SEP12+DEC12+DEC12
CK Low -0.30 7.65 300.97 -0.70 7.18 282.66
CK High -0.20 7.75 304.91 -0.70 7.18 282.66
CK Avg -0.22 -0.35 7.73 304.25 -0.70 -0.84 7.18 282.66
Essex Cty -0.20 7.75 304.91 -0.65 7.23 284.63
Mdsx Low -0.20 7.75 304.91 -0.80 7.08 278.73
Mdsx High -0.20 7.75 304.91 -0.70 7.18 282.66
Mdsx Avg -0.20 -0.33 7.75 304.91 -0.75 -0.89 7.13 280.70
Hensall -0.20 7.75 304.91 -0.80 7.08 278.73
Bruce -0.20 7.75 304.91 -0.80 7.08 278.73
Putnam -0.20 7.75 304.91 -0.80 7.08 278.73
Burford -0.20 7.75 304.91 -0.70 7.18 282.66
Port Perry -0.10 7.85 308.84 -0.90 6.98 274.79
Norfolk -0.20 7.75 304.91 -0.70 7.18 282.66
Palmerston -0.20 7.75 304.91 -0.80 7.08 278.73
Varna -0.20 7.75 304.91 -0.80 7.08 278.73
Trenton 0.10 8.05 316.72 -0.80 7.08 278.73
Winchester -0.15 7.80 306.88 -0.70 7.18 282.66
North Gower 0.05 8.00 314.75 -0.87 7.01 275.97
Huron FOB -0.10 7.85 308.84 -0.80 7.08 278.73
Kent FOB -0.20 7.75 304.91 -0.70 7.18 282.66
Lamb FOB -0.20 7.75 304.91 -0.70 7.18 282.66
Mdsx FOB N/A -0.20 -0.10N/A -0.70 7.18 282.66
FOB SW Que 0.40 8.35 328.53 -0.50 7.38 290.54
Track 0.23 8.17 321.64N/A
PROCESSORS
Chat-Eth N/A N/A N/A N/A -0.65 7.23 284.63
Jhnstwn-Eth N/A N/A N/A N/A -0.65 7.23 284.63
Aylmer-Eth -0.30 -0.30 -0.10 -0.75 7.65 300.97 -0.75 7.13 280.70
Sarn-Eth N/A N/A 0.00 -0.55 -0.55 7.33 288.57
Cllngwd-Eth N/A N/A N/A N/A N/A*
London-Cas N/A N/A N/A -0.65 -0.55 7.33 288.57
Pt.Colb-Cas N/A N/A 0.60 -0.60 -0.50 7.38 290.54
Cardnl-Cas N/A N/A 0.70 -0.60 -0.50 7.38 290.54
W O Feed 0.31 0.29 8.26 324.98
US Rep 0.75 0.73 8.70 342.31
Toledo El. 0.33 8.27 325.58 0.07 7.95 313.03
TRANSFER
Sarnia N/A N/A
Pt. Stanley N/A N/A
Hamilton N/A -0.58 7.30287 2/5
MID SD CRN -0.70 7.18
HI SD CRN -0.70 7.18
*Wet Bid
Bank of Canada Noon exchange rate was 1.0181 down 0.0027
Chicago soybeans closed moderately higher to higher.
NOV12 HI 16.24 NOV12 HI 16.24
LOW 15.36 LOW 15.36
CLOSE16.15 1/2 Up 46 CLOSE 16.15 1/2 Up 46
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +NOV1+NOV1+NOV12
CK Low 0.41 16.57 608.66-0.54 15.62 573.75
CK High 0.52 16.68 612.70-0.45 15.71 577.06
CK Average 0.47 0.21 16.63 610.93-0.50-0.7915.66 575.22
Essex Cty 0.71 16.87 619.68-0.54 15.62 573.75
Mdsx Low 0.37 16.53 607.19-0.50 15.66 575.22
Mdsx High 0.47 16.63 610.86-0.50 15.66 575.22
Mdsx Average 0.42 0.16 16.58 609.03-0.50-0.7915.66 575.22
Hensall 0.50 16.65 611.78-0.50 15.66 575.22
Bruce 0.47 16.63 610.86-0.50 15.66 575.22
Putnam 0.45 16.61 610.13-0.50 15.66 575.22
Burford 0.37 16.53 607.19-0.50 15.66 575.22
Port Perry 0.34 16.50 606.09-0.53 15.63 574.12
Norfolk 0.49 16.65 611.60-0.46 15.70 576.69
Palmerston 0.57 16.73 614.54-0.50 15.66 575.22
Varna 0.30 16.46 604.62-0.50 15.66 575.22
Trenton 0.00 16.16 593.59-0.48 15.68 575.96
Winchester N/A -0.45 15.71 577.06
North Gower -0.24 15.92 584.78-0.38 15.78 579.63
Huron FOB 0.62 16.78 616.38-0.40 15.76 578.90
Kent FOB 0.46 16.62 610.50-0.51 15.65 574.86
Lambton FOB 0.46 16.62 610.50-0.51 15.65 574.86
Middlesex FOB N/A 0.43 N/A N/A -0.39 15.77 579.26
PROCESSORS
Hamilton 0.30 0.85 0.65 0.10 16.46 604.620.10 16.26 597.27
Windsor 0.94 0.79 N/A N/A 17.10 628.13-0.31 15.85 582.20
Winchester 0.10 16.26 597.27-0.35 15.81 580.73
TRANSFER
Hamilton N/A N/A N/A N/A 0.10 16.26 597.27
Pt. Stanley N/A N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC 0.80 16.96 622.990.20 16.36 600.94
Toledo El. 0.80 16.96 623.09-0.28 15.87 583.12
Bank of Canada Noon exchange rate was 1.0181 down 0.0027
Chicago wheat closed moderately higher to higher.
SEP12 HI 9.09 JUL13 HI 8.27 1/4
LOW 8.62 1/2 LOW 7.88
CLOSE 9.03 1/4 Up 24 1/2 CLOSE 8.12 3/4 Up 14
Minni wheat closed higher to sharply higher.
SEP12 HI 10.00 SEP13 HI 9.20
LOW 9.58 1/2 LOW 8.89
CLOSE 9.89 Up 21 CLOSE 9.10 Up 43
GFO Cash Wheat Prices - DEL Terminal
Current Crop 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.06 0.25 -0.46 -0.45
CAD $/bu 8.98 9.28 8.57 9.44
CAD $/tonne 329.78 340.98 314.85 346.86
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 -0.15 -0.85 N/A N/A -0.20 -0.94 N/A
London -0.40 -0.15 -0.86 N/A -0.26 -0.16 -0.82 N/A
Hensall -0.35 N/A -0.80 N/A -0.40 N/A -0.85 N/A
Trenton N/A N/A -0.95 N/A N/A N/A N/A N/A
Winchester N/A N/A N/A -1.08 N/A N/A N/A N/A
Essex N/A N/A -0.87 N/A N/A N/A -1.08 N/A
Norwich -0.20 N/A -0.80 N/A -0.40 N/A -0.85 N/A
Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A
Kent Bridge -0.25 N/A -0.85 N/A -0.40 N/A -0.95 N/A
Chatham N/A -0.15 -0.85 N/A N/A -0.22 -0.94 N/A
Brigden N/A -0.15 -0.85 N/A N/A -0.22 -0.94 N/A
Palmerston N/A -0.13 -0.73 -0.83 N/A -0.35 -0.96 -0.96
Varna -0.40 -0.15 -0.80 N/A -0.40 -0.15 -0.80 N/A
Mitchell -0.40 -0.15 -0.80 N/A -0.40 -0.10 -0.85 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 -0.84 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 -0.68 N/A N/A N/A -0.54 N/A
Pt. Stanley N/A N/A N/A N/A N/A N/A N/A N/A
PROCESSORS
Toledo FM 0.50 0.96 0.25N/A N/A N/A 0.25N/A
Toledo El. 9.00US 9.15CA 8.10US 8.24CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 13 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.16 0.25 -0.52 -0.70
CAD $/bu 7.97 8.37 7.61 8.40
CAD $/tonne 292.70 307.66 279.62 308.50
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
Bayport Wheat 370.00
Bayport Oats 343.00
Bayport Barley 350.00
FOB Hm Soymeal 644.64 - 645.74
DDG's FOB Srn, Wndr, Aylm 265.00 - 270.00
Wednesday July 25. 2012
Commodity
Period
Price
Weekly Movement - Thursday to Friday
Corn CBOT
Sep
7.9600
↓
11.25
cents
Soybeans CBOT
Aug
16.9250
↓
53.00
cents
Wheat CBOT
Sep
8.9950
↓
21.50
cents
Wheat Minn.
Sep
9.9275
↓
21.25
cents
Wheat Kansas
Sep
8.9550
↓
7.50
cents
Canadian $
Sep
0.9836
↓
33.00
points
The loonie advanced against the greenback amid hopes that the Federal Reserve
will lean towards providing an economic stimulus to keep the economy afloat. One
of the options on the table is another round of ‘economic-easing’ –
essentially a large scale purchase of government debt by the Federal Reserve,
yielding similar effect as printing money without ever having to turn on the
printing press. This quick fix approach aims at maintaining interest rate at bay
in the long-run, thereby encouraging lending/borrowing and keeping the economic
machine lubricated. However, pressure from slowing economies in Europe and Asia
is making the scenario more and more likely. The TSX fell on Wednesday led by
lower by financial and energy shares and weaker US and EU earning data. Flat
economic data from Germany is supporting the view, that even the EU’s
powerhouse is showing signs of damage from the financial crisis.
CORN
Corn rose in Chicago on speculation that rain will miss many of the growing
areas in the US Midwest. The Corn Belt appears to be in dire need of some rain
as concerns rise that supplies will be affected amid what appears to be the
most-severe drought since the mid 1950’s.The draught’s economic impact will
trickle into other commodities like milk, beef and pork among others, and will
likely be felt next year.
SOYBEANS
Soybeans rose in Chicago fueled by long-liquidation of inventories and a lower
dollar. Prices also found support from concerns over the impact of the draught
on this years’ crop. Market fundamentals are strongly bullish and are
underpinning market prices. Consumers may experience a 3% to 4% increase in food
prices this time around next year, as the effects of the country’s worst
drought since the 1950s work their way onto supermarket shelves, according the
USDA in a recent report.
WHEAT
Wheat rose in Chicago over concerns about damage to the crop from the ongoing
weather conditions. Markets have been bullish with tighter supplies and a
falling US dollar. A cut to Russian wheat exports because of drought in the
Black Sea region also lent support to prices. The USDA, thus far has designated
1,369 counties in 31 states including Wisconsin and Michigan to its list of
natural-disaster areas, as the drought grips much of the country’s crop land.
This means that the designated areas are eligible to receive low-interest loans
and other assistance from the federal government.
Contract prices for July 25th 2012 at 3pm, are as follows:
SWW at $329.37 per tonne ($8.96/bu.), HRW at $340.55 per tonne ($9.27 /bu.),
HRS at $346.51 per tonne ($9.43/bu.), and SRW at $314.46 per tonne
($8.56/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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