[Farmmarketnews] Wednesday Ontario Commodity Report & Ahmed Chilmeran Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed May 2 15:42:55 EDT 2012
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, May 2
(All Bases in CAD)
Bank of Canada Noon exchange rate was 0.9891 up 0.0052
Chicago corn closed moderately lower to lower.
JUL12 HI 6.29 DEC12 HI 5.40
LOW 6.10 LOW 5.28 1/4
CLOSE6.11 1/2 Down 17 1/2 CLOSE 5.31 Down 7 3/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +JUL12+SEP12+SEP12
CK Low -0.45 5.67 223.02 -0.75 4.56 179.52
CK High -0.45 5.67 223.02 -0.75 4.56 179.52
CK Avg -0.45 -0.37 5.67 223.02 -0.75 -0.68 4.56 179.52
Essex Cty -0.50 5.62 221.05 -0.75 4.56 179.52
Mdsx Low -0.45 5.67 223.02 -0.75 4.56 179.52
Mdsx High -0.45 5.67 223.02 -0.75 4.56 179.52
Mdsx Avg -0.45 -0.37 5.67 223.02 -0.75 -0.68 4.56 179.52
Hensall -0.45 5.67 223.02 -0.75 4.56 179.52
Bruce -0.45 5.67 223.02 -0.75 4.56 179.52
Putnam -0.45 5.67 223.02 -0.75 4.56 179.52
Burford -0.45 5.67 223.02 -0.75 4.56 179.52
Port Perry -0.45 5.67 223.02 -0.75 4.56 179.52
Norfolk -0.45 5.67 223.02 -0.75 4.56 179.52
Palmerston -0.45 5.67 223.02 -0.75 4.56 179.52
Varna -0.50 5.62 221.05 -0.75 4.56 179.52
Trenton -0.30 5.82 228.93 -0.75 4.56 179.52
Winchester -0.15 5.97 234.83 -0.65 4.66 183.46
North Gower -0.31 5.81 228.53 -0.76 4.55 179.13
Huron FOB -0.35 5.77 226.96 -0.75 4.56 179.52
Kent FOB -0.45 5.67 223.02 -0.75 4.56 179.52
Lamb FOB -0.45 5.67 223.02 -0.75 4.56 179.52
Mdsx FOB -0.45 -0.40 0.35N/A 5.67 223.02 -0.75 4.56 179.52
FOB SW Que 0.35 6.47 254.52 -0.35 4.96 195.27
Track -0.10 6.02 236.80N/A
PROCESSORS
Chat-Eth N/A N/A N/A N/A -0.60 4.71 185.42
Jhnstwn-Eth N/A N/A N/A N/A -0.50 4.81 189.36
Aylmer-Eth -0.40 -0.35 0.30 0.35 5.72 224.99 -0.60 4.71 185.42
Sarn-Eth N/A -0.25 -0.50 -0.55 N/A
Cllngwd-Eth -0.10N/A N/A N/A 6.02 236.80-0.30* 5.01 197.23
London-Cas N/A N/A 0.70 0.75 -0.50 4.81 189.36
Pt.Colb-Cas N/A N/A 0.75 0.80 -0.45 4.86 191.33
Cardnl-Cas N/A 0.15 1.00 1.05 -0.45 4.86 191.33
W O Feed 0.08 0.09 6.20 243.89
US Rep 0.75 0.76 6.87 270.26
Toledo El. 0.18 6.29 247.74 -0.33 4.98 196.21
TRANSFER
Sarnia N/A N/A
Pt. Stanley N/A N/A
Hamilton -0.29 5.83229 1/3 -0.45 4.86191 1/3
MID SD CRN -0.75 4.561
HI SD CRN -0.75 4.561
*Wet Bid
Bank of Canada Noon exchange rate was 0.9891 up 0.0052
Chicago soybeans closed moderately lower to lower.
JUL12 HI 15.12 1/2 NOV12 HI 13.94 1/2
LOW 14.81 LOW 13.62 1/2
CLOSE14.85 Down 18 1/2 CLOSE 13.68 1/4 Down 24 1/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +JUL1+JUL1+NOV12
CK Low -1.00 13.85 508.90-1.01 12.67 465.63
CK High -0.89 13.96 512.94-0.90 12.78 469.68
CK Average -0.95 -0.7613.90 510.80-0.97-0.8012.71 466.98
Essex Cty -0.82 14.03 515.51-0.79 12.89 473.72
Mdsx Low -1.00 13.85 508.90-1.00 12.68 466.00
Mdsx High -0.93 13.92 511.47-0.97 12.71 467.10
Mdsx Average -0.97 -0.7813.89 510.19-0.99-0.8212.70 466.55
Hensall -0.95 13.90 510.74-0.95 12.73 467.84
Bruce -1.00 13.85 508.90-1.00 12.68 466.00
Putnam -1.00 13.85 508.90-1.00 12.68 466.00
Burford -0.93 13.92 511.47-0.97 12.71 467.10
Port Perry -0.96 13.89 510.37-1.00 12.68 466.00
Norfolk -0.85 14.00 514.41-0.93 12.75 468.57
Palmerston -0.95 13.90 510.74-1.00 12.68 466.00
Varna -1.00 13.85 508.90-1.05 12.63 464.16
Trenton -0.95 13.90 510.74-0.90 12.78 469.68
Winchester -0.89 13.96 512.94-0.82 12.86 472.62
North Gower -1.09 13.76 505.59-0.83 12.85 472.25
Huron FOB -0.75 14.10 518.09-0.80 12.88 473.35
Kent FOB -0.89 13.96 512.94-0.98 12.70 466.74
Lambton FOB -0.89 13.96 512.94-0.98 12.70 466.74
Middlesex FOB-0.77-0.77-0.72 N/A 14.08 517.35-0.63 13.05 479.60
PROCESSORS
Hamilton -0.40-0.35-0.300.00 14.45 530.95-0.35 13.33 489.89
Windsor -0.59-0.58-0.55 N/A 14.26 523.97-0.56 13.12 482.17
Winchester -0.87 13.98 513.68-0.80 12.88 473.35
TRANSFER
Hamilton -0.45 N/A N/A N/A 14.40 529.11-0.27 13.41 492.83
Pt. Stanley N/A N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC -0.20 14.65 538.30-0.05 13.63 500.91
Toledo El. -0.24 14.61 536.93-0.33 13.36 490.77
Bank of Canada Noon exchange rate was 0.9891 up 0.0052
Chicago wheat closed lower.
JUL12 HI 6.41 3/4 JUL12 HI 6.41 3/4
LOW 6.11 3/4 LOW 6.11 3/4
CLOSE 6.14 1/2 Down 28 1/2 CLOSE 6.14 1/2 Down 28 1/2
Minni wheat closed lower.
JUL12 HI 7.75 SEP12 HI 7.71 3/4
LOW 7.50 LOW 7.49
CLOSE 7.51 Down 23 1/4 CLOSE 7.50 3/4 Down 24
GFO Cash Wheat Prices - DEL Terminal
Current Crop 11 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.27 0.47 -0.22 -0.49
CAD $/bu 5.87 6.61 5.92 7.02
CAD $/tonne 215.74 242.96 217.56 258.02
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 -0.62 N/A N/A 0.15 -0.60 N/A
London -0.62 0.03 -0.62 N/A -0.06 0.14 -0.60 N/A
Hensall -0.70 N/A -0.70 N/A 0.05 N/A -0.60 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 -0.38
Essex N/A N/A -0.67 N/A N/A N/A -0.66 N/A
Norwich -0.70 N/A -0.70 N/A 0.05 N/A -0.60 N/A
Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A
Kent Bridge -0.70 N/A -0.70 N/A 0.05 N/A -0.65 N/A
Chatham N/A N/A -0.65 N/A N/A 0.00 -0.69 N/A
Brigden N/A N/A -0.65 N/A N/A 0.00 -0.69 N/A
Palmerston N/A 0.19 -0.60 -0.43 N/A 0.23 -0.56 -0.77
Varna -0.70 0.00 -0.70 N/A 0.05 0.25 -0.60 N/A
Mitchell -0.65 0.05 -0.65 N/A 0.05 0.25 -0.60 N/A
Thornton N/A N/A N/A -0.52 N/A N/A N/A N/A
North Gower N/A N/A N/A N/A N/A N/A N/A -0.40
TERMINAL
Sarnia N/A N/A N/A N/A N/A N/A N/A N/A
Hamilton N/A N/A -0.15 N/A N/A N/A -0.15 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 0.04N/A 0.47 0.91 0.27N/A
Toledo El. 6.12US 6.04CA 6.22US 6.14CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.07 0.62 -0.17 -0.54
CAD $/bu 6.22 6.76 5.97 6.97
CAD $/tonne 228.45 248.41 219.37 256.12
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
Bayport Wheat 310.00 - 325.00
Bayport Oats 325.00
Bayport Barley 305.00
FOB Hm Soymeal 482.49 - 486.90
DDG's FOB Srn, Wndr, Aylm 205.00 - 240.00
Wednesday May 2, 2012
Commodity
Period
Price
Weekly Movement - Wednesday to Friday
Corn CBOT
July
6.1150
↑
9.25
cents
Soybeans CBOT
July
14.800
↑
7.50
cents
Wheat CBOT
July
6.1450
↓
13.75
cents
Wheat Minn.
July
7.5100
↓
35.50
cents
Wheat Kansas
July
6.3050
↓
11.50
cents
Canadian $
June
1.0128
↓
27.00
points
A recent publication by the Canadian Center for Policy Alternatives suggests
that Canadian banks didn’t escape the 2008 recession unscathed as many have
come to believe. The report indicates that the big-5 have received billions of
dollars in bailout from the US Federal Reserve, the Bank of Canada and CMHC
during the 2008 and 2010. The bailout lump sum reached its peak in 2009 with an
estimate of 7% of Canada’s GDP. Maple Leaf Foods Inc. reported a lower
quarterly profit on Wednesday, widely missing expectations and pulling its
shares down as much as 7 %. Suncor Energy, Canada's top oil producer and refiner
indicated that the cost of inflation in the oil sands remains at bay as it
prepares for a massive expansion of its operations there. The company does not
expect to return to the hyperinflation that plagued oil sands projects before
the global economic crisis and has been an ongoing concern for investors.
CORN
Corn fell in Chicago for the second day as rains boosted soil moisture
improving harvest prospects in the US, the world’s largest grower and exporter
of the grain. Wet weather will continue to lift soil moisture in Illinois the
second largest corn grower according to the USDA. Approximately 53% of the US
crop was planted as of April 29, compared with an average of 27% in the past
five years.
SOYBEANS
Soybean fell in Chicago while spot basis were steady at elevators and
processors. Scattered showers on recently planted crops around the region kept
farmers from fieldwork. Wet weather for at least the next week in the US will
slow down seeding, but add valuable moisture to the soil.
WHEAT
Wheat fell in Chicago on favourable weather conditions including a record yield
prospect in Kansas, a top wheat state. This would add to the already established
potential for a near record global wheat supplies. European wheat futures were
mixed on Wednesday pressured by losses in US grains. Ontario experienced tough
weather recently and its impact on crops remains uncertain. Ontario's winter
wheat crop seems to have weathered the conditions according to OMAFRA’s cereal
specialist: Peter Johnson. However, time will only tell.
Contract prices for May 2nd, 2012 at close, are as follows:
SWW at $215.05 per tonne ($5.85/bu.), HRW at $242.27 per tonne ($6.59 /bu.),
HRS at $257.78 per tonne ($7.02 /bu.), and SRW at $216.87 per tonne ($5.90
/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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