[Farmmarketnews] Wednesday Ontario Commodity Report and Ontario Grain Market Commentary by Ahmed Chilmeran
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Jun 13 16:17:32 EDT 2012
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, June 13
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.027 up 0.0002
Chicago corn closed mixed.
JUL12 HI 6.01 3/4 DEC12 HI 5.16 1/4
LOW 5.75 1/2 LOW 5.10 1/2
CLOSE5.90 3/4 Up 6 3/4 CLOSE 5.10 1/2 Down 12
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +SEP12+SEP12+SEP12
CK Low -0.20 5.71 224.69 -0.65 4.46 175.39
CK High -0.10 5.81 228.63 -0.60 4.51 177.35
CK Avg -0.12 -0.30 5.79 227.98 -0.61 -0.77 4.49 176.89
Essex Cty -0.10 5.81 228.63 -0.70 4.41 173.42
Mdsx Low -0.10 5.81 228.63 -0.65 4.46 175.39
Mdsx High -0.10 5.81 228.63 -0.60 4.51 177.35
Mdsx Avg -0.10 -0.28 5.81 228.63 -0.63 -0.78 4.48 176.37
Hensall -0.10 5.81 228.63 -0.60 4.51 177.35
Bruce -0.10 5.81 228.63 -0.60 4.51 177.35
Putnam -0.10 5.81 228.63 -0.60 4.51 177.35
Burford -0.10 5.81 228.63 -0.65 4.46 175.39
Port Perry -0.10 5.81 228.63 -0.65 4.46 175.39
Norfolk -0.10 5.81 228.63 -0.62 4.49 176.57
Palmerston -0.15 5.76 226.66 -0.55 4.56 179.32
Varna -0.10 5.81 228.63 -0.55 4.56 179.32
Trenton 0.25 6.16 242.41 -0.60 4.51 177.35
Winchester 0.20 6.11 240.44 -0.50 4.61 181.29
North Gower 0.60 6.51 256.19 -0.55 4.56 179.32
Huron FOB -0.25 5.66 222.73 -0.60 4.51 177.35
Kent FOB -0.10 5.81 228.63 -0.62 4.49 176.57
Lamb FOB -0.10 5.81 228.63 -0.62 4.49 176.57
Mdsx FOB -0.10N/A N/A N/A 5.81 228.63 -0.65 4.46 175.39
FOB SW Que 0.37 6.28 247.13 -0.35 4.76 187.20
Track 0.25 6.16 242.41N/A
PROCESSORS
Chat-Eth N/A N/A N/A N/A N/A
Jhnstwn-Eth N/A N/A N/A N/A -0.25 4.86 191.13
Aylmer-Eth -0.25 0.30 0.35 0.55 5.66 222.73 -0.60 4.51 177.35
Sarn-Eth N/A 0.70 0.75 0.85 N/A
Cllngwd-Eth -0.10N/A N/A N/A 5.81 228.63-0.30* 4.81 189.16
London-Cas N/A N/A 0.85 0.95 -0.50 4.61 181.29
Pt.Colb-Cas N/A 0.85 0.90 1.00 -0.45 4.66 183.26
Cardnl-Cas N/A N/A 1.15 1.00 -0.45 4.66 183.26
W O Feed 0.21 0.18 6.12 240.84
US Rep 0.95 0.92 6.86 269.97
Toledo El. 0.37 6.28 247.18 -0.34 4.76 187.58
TRANSFER
Sarnia N/A N/A
Pt. Stanley N/A N/A
Hamilton 0.15 6.06238 1/2 -0.37 4.74186 2/5
MID SD CRN -0.62 1/2 4.48
HI SD CRN -0.60 4.50 1/2
*Wet Bid
Bank of Canada Noon exchange rate was 1.027 up 0.0002
Chicago soybeans closed slightly lower to lower.
JUL12 HI 14.37 1/2 NOV12 HI 13.22
LOW 14.04 3/4 LOW 13.14 1/2
CLOSE14.06 1/2 Down 28 1/2 CLOSE 13.19 3/4 Down 17 1/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +JUL1+AUG1+NOV12
CK Low -0.40 13.67 502.10-0.38 12.82 470.96
CK High -0.22 13.85 508.72-0.30 12.90 473.90
CK Average -0.29 -0.7313.77 506.08-0.34-0.7512.86 472.49
Essex Cty -0.18 13.89 510.19-0.17 13.03 478.68
Mdsx Low -0.30 13.77 505.78-0.35 12.85 472.06
Mdsx High -0.26 13.81 507.25-0.30 12.90 473.90
Mdsx Average -0.28 -0.7113.79 506.51-0.33-0.7312.87 472.98
Hensall -0.30 13.77 505.78-0.33 12.87 472.98
Bruce -0.30 13.77 505.78-0.30 12.90 473.90
Putnam -0.30 13.77 505.78-0.30 12.90 473.90
Burford -0.26 13.81 507.25-0.35 12.85 472.06
Port Perry -0.29 13.78 506.14-0.38 12.82 470.96
Norfolk -0.18 13.89 510.19-0.30 12.90 473.90
Palmerston -0.10 13.97 513.13-0.25 12.95 475.74
Varna -0.10 13.97 513.13-0.25 12.95 475.74
Trenton -0.30 13.77 505.78-0.35 12.85 472.06
Winchester -0.48 13.59 499.16-0.25 12.95 475.74
North Gower -0.26 13.81 507.25-0.18 13.02 478.31
Huron FOB -0.20 13.87 509.45-0.20 13.00 477.58
Kent FOB -0.22 13.85 508.72-0.35 12.85 472.06
Lambton FOB -0.22 13.85 508.72-0.35 12.85 472.06
Middlesex FOB-0.35-0.30 N/A N/A 13.72 503.94-0.11 13.09 480.88
PROCESSORS
Hamilton 0.06 0.11 0.16 0.65 14.13 519.000.25 13.45 494.11
Windsor 0.05 0.05 N/A N/A 14.12 518.640.06 13.26 487.13
Winchester -0.27 13.80 506.88-0.20 13.00 477.58
TRANSFER
Hamilton 0.05 N/A N/A N/A 14.12 518.640.35 13.55 497.79
Pt. Stanley N/A N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC 0.15 14.22 522.310.35 13.55 497.79
Toledo El. -0.15 13.91 511.12-0.29 12.91 474.32
Bank of Canada Noon exchange rate was 1.027 up 0.0002
Chicago wheat closed slightly lower.
JUL12 HI 6.23 3/4 JUL12 HI 6.23 3/4
LOW 6.14 1/4 LOW 6.14 1/4
CLOSE 6.15 1/2 Down 1/2 CLOSE 6.15 1/2 Down 1/2
Minni wheat closed mixed.
JUL12 HI 7.77 1/4 SEP12 HI 7.53 1/4
LOW 7.63 LOW 7.43 1/4
CLOSE 7.73 1/2 Up 9 1/4 CLOSE 7.45 Down 1 1/2
GFO Cash Wheat Prices - DEL Terminal
Current Crop 11 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.02 0.76 0.04 -0.17
CAD $/bu 6.14 6.91 6.19 7.56
CAD $/tonne 225.55 253.96 227.45 277.82
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 N/A N/A N/A N/A 0.30 -0.20 N/A
London -0.24 0.22 -0.35 N/A 0.22 0.33 -0.34 N/A
Hensall -0.20 N/A -0.20 N/A 0.45 N/A -0.20 N/A
Trenton N/A N/A N/A N/A N/A N/A -0.60 N/A
Winchester N/A N/A N/A N/A N/A N/A N/A -0.38
Essex N/A N/A -0.39 N/A N/A N/A -0.33 N/A
Norwich -0.20 N/A -0.25 N/A 0.45 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 -0.25 N/A -0.25 N/A 0.45 N/A -0.30 N/A
Chatham N/A N/A N/A N/A N/A 0.30 -0.33 N/A
Brigden N/A N/A N/A N/A N/A 0.30 -0.33 N/A
Palmerston N/A 0.38 -0.24 -0.07 N/A 0.61 -0.20 -0.38
Varna 0.45 0.55 -0.30 N/A 0.63 0.73 -0.12 N/A
Mitchell -0.20 0.05 -0.20 N/A 0.45 0.60 -0.20 N/A
Thornton N/A N/A N/A -0.88 N/A N/A N/A N/A
North Gower N/A N/A N/A N/A N/A N/A N/A -0.17
TERMINAL
Sarnia N/A N/A N/A N/A N/A N/A N/A N/A
Hamilton N/A N/A -0.05 N/A N/A N/A -0.05 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 0.34N/A 0.76 1.40 0.45N/A
Toledo El. N/A 6.18US 6.37CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.40 0.81 -0.02 -0.29
CAD $/bu 6.55 6.96 6.14 7.16
CAD $/tonne 240.70 255.85 225.55 263.24
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
Bayport Wheat 325.00
Bayport Oats 320.00
Bayport Barley 325.00
FOB Hm Soymeal 513.69 - 515.89
DDG's FOB Srn, Wndr, Aylm 205.00 - 225.00
Ontario Grain Market Commentary for June 13, 2012 By Ahmed Chilmeran, Grain
Farmers of Ontario
Wednesday June 13, 2012
Spain became the fourth EU country to receive a bailout. EU finance ministers
offered Spain a lifeline of up to 100 billion euros to stabilize its banks.
Spain did not indicate how much of that offer it will consider. If it accepts
the full amount it will remain below Greece’s bailout but will it lead against
Portugal and Ireland. Scotia Economics recent report underlines the weakness
facing the global housing market including Canada’s. The weakness can directly
affect the banking sector, which helped finance much of the pre-recession
housing boom experienced worldwide. The OECD in a report on Wednesday warned
Canada of early signs of catching a case of the Dutch Disease – a rapid growth
in natural resource revenues and a decline in the remaining sectors of the
economy. The spike in commodity prices is a catalyst to resulting in uneven
economy and misdistribution of wealth and employment in Canada. Oil experienced
a mere 1% fluctuation after US Energy Information Administration (EIA) indicated
that fuel inventories fell below forecasts as OPEC leaders gather to discuss the
group’s production ceiling at a meeting this week. The TSX rallied on
Wednesday, led by financial and mining revenues and optimism ahead of this
weekend's Greek elections. The loonie was little changed relative to its US
counterpart.
CORN
Corn fell in Chicago while spot prices were firm on a bull spreading after
dipping on two consecutive sessions. Forecasts for increased rain in the Midwest
eased concerns over the heat stressed crop as it heads into its critical
pollination stage. July old crop rose as investors bought the old crop and sold
the December new crop, but pressure remains from the recent USDA report that
pegged ending stock unchanged relative to investors forecast of a decline. The
concerns over the euro zone debt crisis also weighed on prices and the outcome
of the upcoming Greek elections may influence prices.
SOYBEANS
Soybean fell in Chicago after posting moderate gains earlier the week due to
global economic concerns. Prices are under pressure from slower than anticipated
economic recovery in China, the world’s largest soybean importer. The soybean
market remains bullish even after the USDA trimmed both old and new crop ending
stocks thanks to strength in the export market. Tighter supplies and firm demand
should limit losses in the trading sessions.
WHEAT
Wheat was flat in Chicago after lower trading days earlier from a cut in
Australia's wheat harvest forecast. Australia is expected to be the world's
second largest exporter, and a reduced crop there could shift business to North
America. USDA's winter wheat production forecast released earlier highlighted
the markets abundant supply of new crop in the US. The USDA estimated winter
wheat at 1.684 billion bushels, with Kansas expecting to harvest 387 million
bushels, a mere 40% increase from last year. European milling wheat futures
followed suit giving up earlier gains with a rising euro.
Contract prices for June 13th 2012 at 4pm, are as follows:
SWW at $240.30 per tonne ($6.54/bu.), HRW at $255.43 per tonne ($6.95 /bu.),
HRS at $262.80 per tonne ($7.15 /bu.), and SRW at $225.18 per tonne ($6.13
/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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