[Farmmarketnews] Wednesday Ontario Commodity Report & Ahmed Chilmeran Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Mar 28 15:46:02 EDT 2012
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, March 28
(All Bases in CAD)
Bank of Canada Noon exchange rate was 0.9984 up 0.0056
Chicago corn closed moderately lower to lower.
MAY12 HI 6.34 3/4 DEC12 HI 5.50 1/2
LOW 6.19 LOW 5.35 3/4
CLOSE6.20 1/4 Down 10 1/2 CLOSE 5.36 1/4 Down 14
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 5.70 224.50 -0.75 4.61 181.59
CK High -0.50 5.70 224.50 -0.70 4.66 183.55
CK Avg -0.50 -0.50 5.70 224.50 -0.74 -0.74 4.62 181.91
Essex Cty -0.55 5.65 222.53 -0.75 4.61 181.59
Mdsx Low -0.50 5.70 224.50 -0.75 4.61 181.59
Mdsx High -0.50 5.70 224.50 -0.75 4.61 181.59
Mdsx Avg -0.50 -0.50 5.70 224.50 -0.75 -0.75 4.61 181.59
Hensall -0.50 5.70 224.50 -0.75 4.61 181.59
Bruce -0.50 5.70 224.50 -0.75 4.61 181.59
Putnam -0.50 5.70 224.50 -0.70 4.66 183.55
Burford -0.50 5.70 224.50 -0.75 4.61 181.59
Port Perry -0.50 5.70 224.50 -0.75 4.61 181.59
Norfolk -0.50 5.70 224.50 -0.75 4.61 181.59
Palmerston -0.50 5.70 224.50 -0.75 4.61 181.59
Varna -0.50 5.70 224.50 -0.75 4.61 181.59
Trenton -0.35 5.85 230.40 -0.75 4.61 181.59
Winchester N/A N/A
North Gower -0.40 5.80 228.43 -0.70 4.66 183.55
Huron FOB -0.40 5.80 228.43 -0.70 4.66 183.55
Kent FOB -0.50 5.70 224.50 -0.75 4.61 181.59
Lamb FOB -0.50 5.70 224.50 -0.75 4.61 181.59
Mdsx FOB -0.45 -0.45 -0.35 -0.35 5.75 226.47 -0.75 4.61 181.59
FOB SW Que 0.05 6.25 246.15 -0.30 5.06 199.30
Track -0.08 6.13 241.23N/A
PROCESSORS
Chat-Eth N/A N/A N/A N/A -0.55 4.81 189.46
Jhnstwn-Eth N/A N/A 0.15 0.20 -0.35 5.01 197.33
Aylmer-Eth N/A N/A -0.40 -0.35 -0.60 4.76 187.49
Sarn-Eth N/A -0.30 -0.15 -0.20 N/A
Cllngwd-Eth N/A 0.10 0.10N/A -0.30* 5.06 199.30
London-Cas N/A N/A N/A N/A -0.50 4.86 191.43
Pt.Colb-Cas N/A N/A N/A N/A -0.45 4.91 193.40
Cardnl-Cas N/A N/A 0.15 0.15 -0.45 4.91 193.40
W O Feed 0.00 0.00 6.20 244.18
US Rep 0.65 0.65 6.85 269.77
Toledo El. 0.04 6.24 245.76 -0.38 4.98 196.15
TRANSFER
Sarnia N/A N/A
Pt. Stanley N/A N/A
Hamilton -0.32 5.88231 3/5 -0.50 4.86191 3/7
MID SD CRN -0.50 5.70 1/4
HI SD CRN -0.50 5.70 1/4
*Wet Bid
Bank of Canada Noon exchange rate was 0.9984 up 0.0056
Chicago soybeans closed slightly lower.
MAY12 HI 13.79 NOV12 HI 13.35 1/2
LOW 13.64 LOW 13.17 1/2
CLOSE13.67 1/2 Down 2 1/4 CLOSE 13.20 1/2 Down 7 1/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +MAY1+JUL1+JUL12
CK Low -0.80 12.88 473.08-0.85 12.36 453.97
CK High -0.74 12.94 475.28-0.80 12.41 455.81
CK Average -0.78 -0.7812.90 473.81-0.83-0.8312.38 454.76
Essex Cty -0.59 13.09 480.79-0.70 12.51 459.48
Mdsx Low -0.80 12.88 473.08-0.81 12.40 455.44
Mdsx High -0.76 12.92 474.55-0.80 12.41 455.81
Mdsx Average -0.78 -0.7812.90 473.81-0.81-0.8112.40 455.62
Hensall -0.80 12.88 473.08-0.83 12.38 454.89
Bruce -0.80 12.88 473.08-0.85 12.36 453.97
Putnam -0.80 12.88 473.08-0.80 12.41 455.81
Burford -0.73 12.95 475.65-0.78 12.43 456.54
Port Perry -0.79 12.89 473.44-0.84 12.37 454.34
Norfolk -0.70 12.98 476.75-0.77 12.44 456.91
Palmerston -0.80 12.88 473.08-0.85 12.36 453.97
Varna -0.70 12.98 476.75-0.80 12.41 455.81
Trenton -0.90 12.78 469.40-0.77 12.44 456.91
Winchester N/A N/A
North Gower -0.68 13.00 477.48-0.58 12.63 463.89
Huron FOB -0.65 13.03 478.59-0.75 12.46 457.64
Kent FOB -0.74 12.94 475.28-0.82 12.39 455.07
Lambton FOB -0.74 12.94 475.28-0.82 12.39 455.07
Middlesex FOB-0.92-0.62-0.58-0.52 12.76 468.67-0.68 12.53 460.21
PROCESSORS
Hamilton -0.25-0.20-0.15-0.10 13.43 493.28-0.20 13.01 477.85
Windsor -0.28-0.28-0.23-0.22 13.40 492.18-0.39 12.82 470.87
Winchester -0.84 12.84 471.61-0.79 12.42 456.17
TRANSFER
Hamilton -0.45 N/A N/A N/A 13.23 485.94-0.30 12.91 474.18
Pt. Stanley N/A N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC -0.30 13.38 491.45-0.10 13.11 481.53
Toledo El. -0.18 13.49 495.85-0.38 12.82 471.23
Bank of Canada Noon exchange rate was 0.9984 up 0.0056
Chicago wheat closed slightly lower.
MAY12 HI 6.46 1/4 JUL12 HI 6.59
LOW 6.30 LOW 6.42 3/4
CLOSE 6.30 3/4 Down 9 CLOSE 6.43 1/2 Down 9 1/4
Minni wheat closed slightly lower.
MAY12 HI 8.09 1/2 SEP12 HI 7.89 1/4
LOW 7.96 1/2 LOW 7.78 1/4
CLOSE 7.97 3/4 Down 8 1/2 CLOSE 7.78 3/4 Down 8 1/4
GFO Cash Wheat Prices - DEL Terminal
Current Crop 11 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.10 0.70 0.05 -0.50
CAD $/bu 6.21 7.01 6.36 7.48
CAD $/tonne 228.16 257.56 233.67 274.83
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 0.30 -0.30 N/A N/A 0.25 -0.35 N/A
London -0.22 0.38 -0.27 N/A 0.00 0.40 -0.40 N/A
Hensall -0.30 N/A -0.30 N/A 0.10 N/A -0.35 N/A
Trenton N/A N/A N/A N/A N/A N/A -0.55 N/A
Winchester N/A N/A N/A N/A N/A N/A N/A N/A
Essex N/A N/A -0.39 N/A N/A N/A -0.47 N/A
Norwich -0.30 N/A -0.30 N/A 0.10 N/A -0.35 N/A
Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A
Kent Bridge -0.30 N/A -0.30 N/A 0.10 N/A -0.45 N/A
Chatham N/A 0.25 -0.34 N/A N/A 0.30 -0.46 N/A
Brigden N/A 0.25 -0.34 N/A N/A 0.30 -0.46 N/A
Palmerston N/A 0.55 -0.20 -0.47 N/A 0.49 -0.31 -0.75
Varna -0.30 0.35 -0.30 N/A -0.10 0.50 -0.35 N/A
Mitchell -0.30 0.40 -0.30 N/A 0.10 0.40 -0.35 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 -0.64
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 0.00 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 0.30N/A 0.55 1.00 0.40N/A
Toledo El. 6.35US 6.35CA 6.56US 6.56CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.10 0.75 -0.10 -0.40
CAD $/bu 6.54 7.19 6.34 7.39
CAD $/tonne 240.19 264.08 232.84 271.53
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
Bayport Wheat 305.00 - 310.00
Bayport Oats 332.00
Bayport Barley 300.00
FOB Hm Soymeal 431.78 - 436.19
DDG's FOB Srn, Wndr, Aylm 192.00 - 220.00
Friday March 28, 2012
Commodity
Period
Price
Weekly Movement - Wednesday to Friday
Corn CBOT
May
6.2025
↓
28.00
cents
Soybeans CBOT
May
13.6750
↓
18.00
cents
Wheat CBOT
May
6.3075
↓
19.75
cents
Wheat Minn.
May
7.9775
↓
15.25
cents
Wheat Kansas
May
6.7000
↓
16.25
cents
Canadian $
June
0.9989
↑
39.00
points
The Ontario Budget is received with mixed reviews following its release on
Tuesday. The budget is poised to be one of the toughest in recent years with
various austerity measures including capping Ontario’s agricultural risk
management program to the $100 million mark. The 2012 budget is to set a tone of
frugality for the coming years in hopes of balancing the budget in 2017-18. The
yield and price of government bonds tend to move in opposite directions and
following the budget’s announcement the bond market saw some dynamics with a
slight dip in 5 and 10 year bond yields supported by increased investor’s
demand. The increase in the price and drop in in yield reflect the bold measures
taken in the budget to rein in on the province’s deficit. Oil prices have
declined following reports of larger US stockpiles, dragging global commodity
and energy heavy indices down. The loonie followed suit falling against its US
counterpart.
CORN
Corn fell in Chicago as traders are wary of large increases in prospective
plantings ahead of the USDA inventory and planting report on Friday. Lower crude
oil and stronger US dollar strength are also contributing the selling pressure.
Farmers are returning to the field following a stint of rains that fell over
much of the central US recently and resuming what so far has been a jump start
to the crop season.
SOYBEANS
Soybean rose in Chicago ahead of the USDA’s inventory and planting report,
finding support from diminished South American crop. According to Goldman Sachs
report the lower South American production combined with a limited US acreage
gain and increased imports by China will bring support to the 2012-13 prices.
WHEAT
Wheat fell in Chicago reversing early gains due to lower crude oil prices and
traders tendency to act cautiously ahead of the USDA’s inventory and planting
estimates on Friday. European benchmark wheat followed suit. The conditions of
the wheat crops in the top producing states has recovered to its highest since
2010, helped in part by rains which to continue to boost the crops revival.
Contract prices for March 28th, 2012 at close, are as follows:
SWW at $228..4 per tonne ($6.21/bu.), HRW at $257.76 per tonne ($7.02 /bu.),
HRS at $275.05 per tonne ($7.49 /bu.), and SRW at $233.86 per tonne ($6.36
/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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