[Farmmarketnews] Wednesday Ontario Commodity Report & Ahmed Chilmeran Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Mar 14 15:39:33 EDT 2012
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, March 14
(All Bases in CAD)
Bank of Canada Noon exchange rate was 0.9915 up 0.0010
Chicago corn closed slightly lower.
MAY12 HI 6.65 DEC12 HI 5.70 1/2
LOW 6.54 1/4 LOW 5.60 3/4
CLOSE6.58 3/4 Down 3 1/4 CLOSE 5.64 Down 3 1/2
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +MAY12+JUL12+JUL12
CK Low -0.50 6.09 239.65 -0.75 4.89 192.51
CK High -0.40 6.19 243.59 -0.70 4.94 194.48
CK Avg -0.46 -0.43 6.13 241.29 -0.74 -0.71 4.90 192.97
Essex Cty -0.55 6.04 237.69 -0.75 4.89 192.51
Mdsx Low -0.50 6.09 239.65 -0.75 4.89 192.51
Mdsx High -0.45 6.14 241.62 -0.75 4.89 192.51
Mdsx Avg -0.48 -0.44 6.11 240.64 -0.75 -0.72 4.89 192.51
Hensall -0.50 6.09 239.65 -0.75 4.89 192.51
Bruce -0.50 6.09 239.65 -0.75 4.89 192.51
Putnam -0.50 6.09 239.65 -0.75 4.89 192.51
Burford -0.45 6.14 241.62 -0.75 4.89 192.51
Port Perry -0.45 6.14 241.62 -0.75 4.89 192.51
Norfolk -0.45 6.14 241.62 -0.73 4.91 193.30
Palmerston -0.50 6.09 239.65 -0.75 4.89 192.51
Varna -0.50 6.09 239.65 -0.75 4.89 192.51
Trenton -0.25 6.34 249.50 -0.70 4.94 194.48
Winchester N/A N/A
North Gower -0.31 6.28 247.13 -0.70 4.94 194.48
Huron FOB -0.30 6.29 247.53 -0.70 4.94 194.48
Kent FOB -0.45 6.14 241.62 -0.73 4.91 193.30
Lamb FOB -0.45 6.14 241.62 -0.73 4.91 193.30
Mdsx FOB -0.40 -0.40 -0.30 -0.30 6.19 243.59 -0.75 4.89 192.51
FOB SW Que 0.10 6.69 263.28 -0.25 5.39 212.19
Track -0.05 6.54 257.37N/A
PROCESSORS
Chat-Eth N/A N/A N/A N/A -0.65 4.99 196.45
Jhnstwn-Eth 0.20 0.25 0.30 0.35 6.79 267.21 -0.55 5.09 200.38
Aylmer-Eth -0.25 -0.20 -0.20 -0.15 6.34 249.50 -0.50 5.14 202.35
Sarn-Eth N/A -0.25 -0.10 -0.10 N/A
Cllngwd-Eth N/A 0.10 0.10N/A -0.30* 5.34 210.23
London-Cas N/A -0.15 -0.05 -0.05 -0.45 5.19 204.32
Pt.Colb-Cas N/A N/A N/A N/A -0.40 5.24 206.29
Cardnl-Cas N/A N/A 0.20 0.20 -0.40 5.24 206.29
W O Feed 0.06 0.07 6.65 261.70
US Rep 0.60 0.61 7.19 282.96
Toledo El. 0.06 6.65 261.69 -0.38 5.26 207.15
TRANSFER
Sarnia N/A N/A
Pt. Stanley N/A N/A
Hamilton -0.21 6.38251 -0.45 5.19204 1/3
MID SD CRN -0.45 6.13 3/4
HI SD CRN -0.40 6.18 3/4
*Wet Bid
Bank of Canada Noon exchange rate was 0.9915 up 0.0010
Chicago soybeans closed narrowly mixed.
MAY12 HI 13.60 3/4 NOV12 HI 13.19 1/2
LOW 13.46 1/2 LOW 13.10
CLOSE13.50 1/4 Up 1 1/2 CLOSE 13.11 Down 1/2
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +MAY1+JUL1+JUL12
CK Low -0.77 12.73 467.84-0.85 12.26 450.48
CK High -0.65 12.85 472.25-0.75 12.36 454.15
CK Average -0.74 -0.6712.77 469.06-0.80-0.7412.31 452.25
Essex Cty -0.58 12.92 474.82-0.65 12.46 457.83
Mdsx Low -0.75 12.75 468.57-0.80 12.31 452.32
Mdsx High -0.70 12.80 470.41-0.80 12.31 452.32
Mdsx Average -0.73 -0.6612.78 469.49-0.80-0.7412.31 452.32
Hensall -0.73 12.78 469.49-0.80 12.31 452.32
Bruce -0.75 12.75 468.57-0.85 12.26 450.48
Putnam -0.75 12.75 468.57-0.80 12.31 452.32
Burford -0.67 12.83 471.51-0.77 12.34 453.42
Port Perry -0.73 12.77 469.31-0.83 12.28 451.21
Norfolk -0.64 12.86 472.62-0.73 12.38 454.89
Palmerston -0.70 12.80 470.41-0.80 12.31 452.32
Varna -0.70 12.80 470.41-0.80 12.31 452.32
Trenton -0.85 12.65 464.90-0.80 12.31 452.32
Winchester N/A N/A
North Gower -0.73 12.77 469.31-0.68 12.43 456.72
Huron FOB -0.55 12.95 475.92-0.70 12.41 455.99
Kent FOB -0.68 12.82 471.15-0.78 12.33 453.05
Lambton FOB -0.68 12.82 471.15-0.78 12.33 453.05
Middlesex FOB-0.68-0.59-0.52 N/A 12.82 471.15-0.67 12.44 457.09
PROCESSORS
Hamilton -0.40-0.30-0.25-0.20 13.10 481.43-0.30 12.81 470.69
Windsor -0.36-0.33-0.32 N/A 13.14 482.90-0.42 12.69 466.28
Winchester -0.75 12.75 468.57-0.70 12.41 455.99
TRANSFER
Hamilton -0.35 N/A N/A N/A 13.15 483.27-0.30 12.81 470.69
Pt. Stanley N/A N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC -0.20 13.30 488.780.00 13.11 481.71
Toledo El. -0.18 13.32 489.55-0.38 12.73 467.81
Bank of Canada Noon exchange rate was 0.9915 up 0.0010
Chicago wheat closed slightly lower.
MAY12 HI 6.51 JUL12 HI 6.61 1/2
LOW 6.40 3/4 LOW 6.51 1/2
CLOSE 6.43 3/4 Down 5 1/4 CLOSE 6.54 1/2 Down 3 1/2
Minni wheat closed slightly lower.
MAY12 HI 8.13 1/2 SEP12 HI 7.98 1/2
LOW 8.05 LOW 7.87 3/4
CLOSE 8.06 1/2 Down 4 1/2 CLOSE 7.91 3/4 Down 2 1/2
GFO Cash Wheat Prices - DEL Terminal
Current Crop 11 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.13 0.72 0.07 -0.53
CAD $/bu 6.31 7.15 6.51 7.53
CAD $/tonne 231.80 262.89 239.11 276.69
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 0.35 -0.25 N/A N/A 0.25 -0.40 N/A
London -0.20 0.39 -0.20 N/A -0.03 0.36 -0.43 N/A
Hensall -0.25 N/A -0.30 N/A 0.10 N/A -0.40 N/A
Trenton N/A N/A N/A N/A N/A N/A -0.50 N/A
Winchester N/A N/A N/A N/A N/A N/A N/A N/A
Essex N/A N/A -0.29 N/A N/A N/A -0.52 N/A
Norwich -0.25 N/A -0.30 N/A 0.10 N/A -0.40 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 -0.30 N/A 0.10 N/A -0.70 N/A
Chatham N/A 0.30 -0.32 N/A N/A 0.27 -0.49 N/A
Brigden N/A 0.30 -0.32 N/A N/A 0.27 -0.49 N/A
Palmerston N/A 0.51 -0.24 -0.52 N/A 0.45 -0.35 -0.80
Varna -0.30 0.35 -0.34 N/A -0.10 0.50 -0.40 N/A
Mitchell -0.25 0.45 -0.30 N/A 0.10 0.45 -0.40 N/A
Thornton N/A N/A N/A -0.89 N/A N/A N/A N/A
North Gower N/A N/A N/A N/A N/A N/A N/A -0.60
TERMINAL
Sarnia N/A N/A N/A N/A N/A N/A N/A N/A
Hamilton N/A N/A 0.00 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 0.27N/A 0.52 0.97 0.37N/A
Toledo El. 6.48US 6.45CA 6.67US 6.63CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.07 0.72 -0.13 -0.43
CAD $/bu 6.61 7.26 6.42 7.48
CAD $/tonne 243.04 266.82 235.73 274.96
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
Bayport Wheat 298.00 - 315.00
Bayport Oats 315.00
Bayport Barley 295.00
FOB Hm Soymeal 419.11 - 424.62
DDG's FOB Srn, Wndr, Aylm 185.00 - 210.00
Wednesday March 14, 2012
Commodity
Period
Price
Weekly Movement - Wednesday to Friday
Corn CBOT
May
6.6000
↑
12.00
cents
Soybeans CBOT
May
13.5025
↓
0.25
cents
Wheat CBOT
May
6.4375
↓
0.25
cents
Wheat Minn.
May
8.0650
↓
0.50
cents
Wheat Kansas
May
6.8100
↑
0.50
cents
Canadian $
June
1.0051
↓
56.00
points
Markets were cheery on Wednesday, following a positive outlook of the US
economy from the Federal Reserve who seems committed to maintaining a low
interest rate till 2014. A seeming calm in Europe’s debt crisis following
Greece’s successful bond swap has also fueled the optimism. Global stock
indexes reacted accordingly to the positive news trading at levels not seen
since the collapse of the Lehman Brothers in 2008. Statistics Canada in a report
indicated the economy is operating around 80% of capacity in the fourth quarter,
up half a point from the third quarter – the production capacity indicator is
utilized by the central bank to calibrate levels of interest rate and inflation
in the economy. According to Rueters, a poll of 250 economists leans towards an
optimistic view of the global economy supported through loose monetary policy.
This positive signal found metals and other commodities considered as safe haven
in tough times lower. As such commodity heavy – exchanges such as the TSX were
down, the loonie followed suits trading lower against its US counterpart.
CORN
Corn fell in Chicago after three days of gains on speculation that warmer
weather in the US may encourage farmers to speed up spring fieldwork in
preparation for an earlier than usual planting season. In addition trade has
been softer due to a firmer US dollar.
SOYBEANS
Soybean rose in Chicago for a for a second consecutive session and hit a five
and a half month high as drought reduced South American crop production, while
port congestion was expected to bolster demand for thinning North American
supplies this summer.
WHEAT
Wheat fell in Chicago pressured by a firmer US dollar and forecasts for warm
weather that could boost already ample supplies. Unseasonably warm weather
across the Central Plains is boosting winter wheat growth and causing a quick
dry down of soils ahead of spring planting.
Contract prices for March 14th, 2012 at close, are as follows:
SWW at $231.68 per tonne ($6.31/bu.), HRW at $262.75 per tonne ($7.15 /bu.),
HRS at $276.55 per tonne ($7.53 /bu.), and SRW at $238.99 per tonne ($6.50
/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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