[Farmmarketnews] Wednesday Ontario Commodity Report & Ahmed Chilmeran Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed May 9 15:50:41 EDT 2012
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, May 9
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.0015 up 0.0018
Chicago corn closed moderately lower to lower.
JUL12 HI 6.23 DEC12 HI 5.28 3/4
LOW 6.05 1/2 LOW 5.15
CLOSE6.07 1/4 Down 15 3/4 CLOSE 5.16 3/4 Down 11
1/4
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 5.62 221.35 -0.75 4.42 173.91
CK High -0.40 5.67 223.32 -0.70 4.47 175.88
CK Avg -0.42 -0.43 5.65 222.59 -0.71 -0.72 4.46 175.48
Essex Cty -0.40 5.67 223.32 -0.70 4.47 175.88
Mdsx Low -0.40 5.67 223.32 -0.70 4.47 175.88
Mdsx High -0.40 5.67 223.32 -0.70 4.47 175.88
Mdsx Avg -0.40 -0.41 5.67 223.32 -0.70 -0.71 4.47 175.88
Hensall -0.43 5.65 222.33 -0.70 4.47 175.88
Bruce -0.40 5.67 223.32 -0.70 4.47 175.88
Putnam -0.40 5.67 223.32 -0.70 4.47 175.88
Burford -0.40 5.67 223.32 -0.70 4.47 175.88
Port Perry -0.40 5.67 223.32 -0.70 4.47 175.88
Norfolk -0.41 5.66 222.92 -0.71 4.46 175.48
Palmerston -0.45 5.62 221.35 -0.75 4.42 173.91
Varna -0.45 5.62 221.35 -0.70 4.47 175.88
Trenton -0.25 5.82 229.22 -0.75 4.42 173.91
Winchester -0.15 5.92 233.16 -0.65 4.52 177.85
North Gower -0.25 5.82 229.22 -0.75 4.42 173.91
Huron FOB -0.40 5.67 223.32 -0.70 4.47 175.88
Kent FOB -0.41 5.66 222.92 -0.71 4.46 175.48
Lamb FOB -0.41 5.66 222.92 -0.71 4.46 175.48
Mdsx FOB -0.40 -0.35 0.50N/A 5.67 223.32 -0.70 4.47 175.88
FOB SW Que 0.30 6.37 250.87 -0.32 4.85 190.84
Track 0.10 6.17 243.00N/A
PROCESSORS
Chat-Eth N/A N/A N/A N/A -0.60 4.57 179.81
Jhnstwn-Eth N/A N/A N/A N/A -0.40 4.77 187.69
Aylmer-Eth -0.40 -0.35 0.50 0.55 5.67 223.32 -0.60 4.57 179.81
Sarn-Eth N/A -0.15 0.35 0.70 N/A
Cllngwd-Eth -0.10N/A N/A N/A 5.97 235.13-0.30* 4.87 191.63
London-Cas N/A N/A 0.80 0.85 -0.50 4.67 183.75
Pt.Colb-Cas N/A N/A 0.85 0.90 -0.45 4.72 185.72
Cardnl-Cas N/A 0.25 1.10 1.15 -0.45 4.72 185.72
W O Feed 0.06 0.06 6.13 241.43
US Rep 0.75 0.75 6.82 268.59
Toledo El. 0.30 6.37 250.90 -0.33 4.84 190.42
TRANSFER
Sarnia N/A N/A
Pt. Stanley N/A N/A
Hamilton -0.25 5.82229 2/9 -0.37 4.80188 7/8
MID SD CRN -0.72 1/2 4.44 1/4
HI SD CRN -0.70 4.46 3/4
*Wet Bid
Bank of Canada Noon exchange rate was 1.0015 up 0.0018
Chicago soybeans closed slightly lower.
JUL12 HI 14.41 3/4 NOV12 HI 13.46 1/4
LOW 14.13 1/4 LOW 13.18 1/2
CLOSE14.30 1/4 Down 8 CLOSE 13.33 1/2 Down 7
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +JUL1+JUL1+NOV12
CK Low -0.75 13.55 497.97-0.78 12.56 461.32
CK High -0.68 13.62 500.54-0.70 12.64 464.26
CK Average -0.72 -0.7513.59 499.19-0.74-0.7612.60 462.91
Essex Cty -0.62 13.68 502.75-0.50 12.84 471.61
Mdsx Low -0.70 13.60 499.81-0.75 12.59 462.42
Mdsx High -0.67 13.63 500.91-0.72 12.62 463.52
Mdsx Average -0.69 -0.7213.62 500.36-0.74-0.7612.60 462.97
Hensall -0.75 13.55 497.97-0.75 12.59 462.42
Bruce -0.70 13.60 499.81-0.75 12.59 462.42
Putnam -0.70 13.60 499.81-0.75 12.59 462.42
Burford -0.67 13.63 500.91-0.72 12.62 463.52
Port Perry -0.70 13.60 499.81-0.75 12.59 462.42
Norfolk -0.68 13.62 500.54-0.73 12.61 463.15
Palmerston -0.85 13.45 494.29-0.85 12.49 458.75
Varna -0.85 13.45 494.29-0.80 12.54 460.58
Trenton -0.73 13.57 498.70-0.60 12.74 467.93
Winchester -0.70 13.60 499.81-0.50 12.84 471.61
North Gower -0.79 13.51 496.50-0.78 12.56 461.32
Huron FOB -0.65 13.65 501.64-0.65 12.69 466.09
Kent FOB -0.72 13.58 499.07-0.78 12.56 461.32
Lambton FOB -0.72 13.58 499.07-0.78 12.56 461.32
Middlesex FOB-0.54-0.49-0.44 N/A 13.76 505.69-0.42 12.92 474.55
PROCESSORS
Hamilton -0.15-0.10-0.050.20 14.15 520.02-0.15 13.19 484.47
Windsor -0.39-0.38-0.35 N/A 13.91 511.20-0.33 13.01 477.85
Winchester -0.60 13.70 503.48-0.40 12.94 475.28
TRANSFER
Hamilton -0.20 N/A N/A N/A 14.10 518.18-0.05 13.29 488.14
Pt. Stanley N/A N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC -0.10 14.20 521.850.20 13.54 497.33
Toledo El. -0.24 14.06 516.69-0.28 13.05 479.67
Bank of Canada Noon exchange rate was 1.0015 up 0.0018
Chicago wheat closed moderately lower.
JUL12 HI 6.18 JUL12 HI 6.18
LOW 5.98 1/4 LOW 5.98 1/4
CLOSE 6.00 Down 15 CLOSE 6.00 Down 15
Minni wheat closed slightly lower.
JUL12 HI 7.37 SEP12 HI 7.41
LOW 7.27 1/2 LOW 7.32
CLOSE 7.30 1/4 Down 2 1/4 CLOSE 7.33 1/2 Down 2 3/4
GFO Cash Wheat Prices - DEL Terminal
Current Crop 11 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.19 0.56 -0.14 -0.39
CAD $/bu 5.81 6.56 5.86 6.92
CAD $/tonne 213.56 241.18 215.40 254.16
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 0.40 -0.25 N/A N/A 0.30 -0.40 N/A
London -0.42 0.13 -0.42 N/A 0.05 0.25 -0.51 N/A
Hensall -0.45 N/A -0.45 N/A 0.10 N/A -0.40 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 -0.59 N/A N/A N/A -0.58 N/A
Norwich -0.45 N/A -0.45 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 -0.45 N/A -0.45 N/A 0.10 N/A -0.50 N/A
Chatham N/A N/A -0.40 N/A N/A 0.25 -0.44 N/A
Brigden N/A N/A -0.40 N/A N/A 0.25 -0.44 N/A
Palmerston N/A 0.30 -0.51 -0.38 N/A 0.34 -0.47 -0.66
Varna -0.10 0.05 -0.60 N/A 0.05 0.30 -0.50 N/A
Mitchell -0.40 0.05 -0.45 N/A 0.10 0.30 -0.40 N/A
Thornton N/A N/A N/A -0.44 N/A N/A N/A N/A
North Gower N/A N/A N/A N/A N/A N/A N/A -0.39
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 0.16N/A 0.56 1.13 0.36N/A
Toledo El. 5.94US 5.95CA 6.07US 6.08CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.16 0.71 -0.09 -0.44
CAD $/bu 6.16 6.71 5.91 6.90
CAD $/tonne 226.45 246.70 217.24 253.51
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
Bayport Wheat 320.00 - 325.00
Bayport Oats 320.00
Bayport Barley 315.00
FOB Hm Soymeal 474.00 - 475.10
DDG's FOB Srn, Wndr, Aylm 215.00 - 240.00
Wednesday May 9, 2012
Commodity
Period
Price
Weekly Movement - Wednesday to Friday
Corn CBOT
July
6.0725
↓
4.25
cents
Soybeans CBOT
July
14.3025
↓
55.75
cents
Wheat CBOT
July
6.0000
↓
14.50
cents
Wheat Minn.
July
7.3025
↓
20.75
cents
Wheat Kansas
July
6.1900
↓
11.50
cents
Canadian $
June
0.9981
↓
146.00
points
The political landscape has seen some form of power change recently, with
Putin’s presidency being renewed for a third term and Sarkozy of France
stepping down to president elects Francois Hollande. Markets on the other were
primarily down on news from escalating doubts that Greece will meet the terms of
its bailout deal amid political upheaval, and Spain's increased demand for its
banks to raise 35 billion euros for construction needs added to concerns. CMHC
issued its annual report recently dismissing fears of a housing bubble in the
Canada. This came to light as the organization’s purpose of existence came to
question by Finance Minister, Jim Flaherty. CMHC’s concluded in their report
that no factual signs of a housing bubble exist and housing starts estimates are
ahead of forecast.
CORN
Corn fell in Chicago as traders position themselves ahead of the coming USDA
report. Tight old crop supplies and tighter farmer holding have pushed cash
prices above the futures in several locations for nearby delivery. Elevators are
shifting bids towards the July contract, as May contracts expire beginning of
next week.
SOYBEANS
Soybean fell in Chicago ahead of the USDA report on Thursday. The report is
anticipated to have inventories at mere 12% lower at the end of the crop's
marketing year than it previously forecast, due to strong export demand
according to the Dow Jones Newswires. Soybean futures prices have rallied since
the beginning of 2012 on concerns about lower South American output and growing
Chinese demand. Asian demand continues to increase and could cut into North
American inventories. The USDA has marked the eighth consecutive export sale to
China or to an unmarked destinations which typically traders assume means China
as well.
WHEAT
Wheat fell in Chicago on EU woes, a stronger US dollar and cautious positioning
ahead of USDA report Thursday. Rekindling of the Euro zone debt crisis amid
political uncertainty in Greece and financial instability in Spain put downward
pressure on the euro and various linked commodities.The oncoming USDA report is
expected to have an increase in wheat supplies due to near-perfect growing
conditions in key production areas of the US Plains.
Contract prices for May 9th, 2012 at close, are as follows:
SWW at $213.52 per tonne ($5.81/bu.), HRW at $241.13 per tonne ($6.56 /bu.),
HRS at $254.10 per tonne ($6.92 /bu.), and SRW at $215.36 per tonne ($5.86
/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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