[Farmmarketnews] Wednesday Ontario Commodity Report & Ahmed Chilmeran Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed May 23 16:07:29 EDT 2012
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, May 23
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.0275 up 0.0084
Chicago corn closed slightly to moderately higher.
JUL12 HI 6.11 DEC12 HI 5.26 3/4
LOW 5.88 1/2 LOW 5.13 3/4
CLOSE6.04 3/4 Up 7 3/4 CLOSE 5.24 3/4 Up 2 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 -0.20 5.85 230.21 -0.65 4.60 181.00
CK High -0.20 5.85 230.21 -0.60 4.65 182.96
CK Avg -0.20 -0.35 5.85 230.21 -0.64 -0.77 4.61 181.32
Essex Cty -0.20 5.85 230.21 -0.70 4.55 179.03
Mdsx Low -0.20 5.85 230.21 -0.65 4.60 181.00
Mdsx High -0.20 5.85 230.21 -0.65 4.60 181.00
Mdsx Avg -0.20 -0.35 5.85 230.21 -0.65 -0.78 4.60 181.00
Hensall -0.20 5.85 230.21 -0.63 4.62 181.98
Bruce -0.20 5.85 230.21 -0.60 4.65 182.96
Putnam -0.20 5.85 230.21 -0.65 4.60 181.00
Burford -0.20 5.85 230.21 -0.65 4.60 181.00
Port Perry -0.20 5.85 230.21 -0.65 4.60 181.00
Norfolk -0.20 5.85 230.21 -0.65 4.60 181.00
Palmerston -0.25 5.80 228.24 -0.60 4.65 182.96
Varna -0.20 5.85 230.21 -0.60 4.65 182.96
Trenton 0.00 6.05 238.08 -0.65 4.60 181.00
Winchester 0.10 6.15 242.02 -0.50 4.75 186.90
North Gower -0.15 5.90 232.17 -0.65 4.60 181.00
Huron FOB -0.15 5.90 232.17 -0.55 4.70 184.93
Kent FOB -0.20 5.85 230.21 -0.65 4.60 181.00
Lamb FOB -0.20 5.85 230.21 -0.65 4.60 181.00
Mdsx FOB -0.20 -0.20 0.50N/A 5.85 230.21 -0.65 4.60 181.00
FOB SW Que 0.45 6.50 255.80 -0.23 5.02 197.53
Track 0.13 6.17 243.00N/A
PROCESSORS
Chat-Eth N/A N/A N/A N/A -0.60 4.65 182.96
Jhnstwn-Eth N/A N/A N/A N/A -0.40 4.85 190.84
Aylmer-Eth -0.40 -0.35 0.50 0.55 5.65 222.33 -0.60 4.65 182.96
Sarn-Eth N/A -0.10 0.70 0.75 N/A
Cllngwd-Eth -0.10N/A N/A N/A 5.95 234.14-0.30* 4.95 194.77
London-Cas N/A N/A 0.80 0.85 -0.50 4.75 186.90
Pt.Colb-Cas N/A N/A 0.85 0.90 -0.45 4.80 188.87
Cardnl-Cas N/A 0.25 1.10 1.15 -0.45 4.80 188.87
W O Feed 0.09 0.07 6.14 241.78
US Rep 0.95 0.92 7.00 275.48
Toledo El. 0.33 6.38 250.99 -0.34 4.91 193.27
TRANSFER
Sarnia N/A N/A
Pt. Stanley N/A N/A
Hamilton -0.13 5.92233 -0.28 4.97195 5/9
MID SD CRN -0.62 1/2 4.62 1/4
HI SD CRN -0.60 4.64 3/4
*Wet Bid
Bank of Canada Noon exchange rate was 1.0275 up 0.0084
Chicago soybeans closed moderately lower.
JUL12 HI 13.82 3/4 NOV12 HI 12.82
LOW 13.51 LOW 12.51 1/4
CLOSE13.65 1/2 Down 16 3/4 CLOSE 12.59 1/4 Down 23
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +JUL1+JUL1+AUG12
CK Low -0.45 13.21 485.20-0.52 12.07 443.59
CK High -0.34 13.32 489.24-0.43 12.16 446.90
CK Average -0.38 -0.7213.27 487.71-0.47-0.7812.13 445.55
Essex Cty -0.17 13.49 495.49-0.20 12.39 455.35
Mdsx Low -0.35 13.31 488.88-0.45 12.14 446.16
Mdsx High -0.31 13.35 490.34-0.41 12.18 447.63
Mdsx Average -0.33 -0.6713.33 489.61-0.43-0.7512.16 446.90
Hensall -0.38 13.28 487.96-0.43 12.17 447.08
Bruce -0.35 13.31 488.88-0.45 12.14 446.16
Putnam -0.35 13.31 488.88-0.45 12.14 446.16
Burford -0.31 13.35 490.34-0.41 12.18 447.63
Port Perry -0.34 13.32 489.24-0.44 12.15 446.53
Norfolk -0.30 13.36 490.71-0.47 12.12 445.43
Palmerston -0.55 13.11 481.53-0.45 12.14 446.16
Varna -0.40 13.26 487.04-0.40 12.19 448.00
Trenton -0.46 13.20 484.83-0.44 12.15 446.53
Winchester -0.40 13.26 487.04-0.35 12.24 449.83
North Gower -0.49 13.17 483.73-0.43 12.16 446.90
Huron FOB -0.30 13.36 490.71-0.30 12.29 451.67
Kent FOB -0.34 13.32 489.24-0.52 12.07 443.59
Lambton FOB -0.34 13.32 489.24-0.52 12.07 443.59
Middlesex FOB-0.10-0.17-0.12 N/A 13.56 498.06-0.14 12.45 457.55
PROCESSORS
Hamilton 0.05 0.10 0.20 0.45 13.71 503.570.05 12.64 464.53
Windsor 0.06 0.07 0.08 N/A 13.72 503.940.03 12.62 463.80
Winchester 0.63 14.29 524.88-0.30 12.29 451.67
TRANSFER
Hamilton 0.15 N/A N/A N/A 13.81 507.250.20 12.79 470.04
Pt. Stanley N/A N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC 0.12 13.78 506.140.40 12.99 477.39
Toledo El. -0.25 13.41 492.70-0.29 12.31 452.15
Bank of Canada Noon exchange rate was 1.0275 up 0.0084
Chicago wheat closed moderately lower.
JUL12 HI 6.85 JUL12 HI 6.85
LOW 6.63 1/2 LOW 6.63 1/2
CLOSE 6.68 1/4 Down 17 1/4 CLOSE 6.68 1/4 Down 17 1/4
Minni wheat closed slightly lower.
JUL12 HI 7.84 3/4 SEP12 HI 7.83 3/4
LOW 7.61 1/4 LOW 7.61 1/4
CLOSE 7.75 Down 5 1/2 CLOSE 7.73 1/4 Down 6
GFO Cash Wheat Prices - DEL Terminal
Current Crop 11 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.04 0.73 0.01 -0.22
CAD $/bu 6.65 7.41 6.70 7.53
CAD $/tonne 244.17 272.42 246.06 276.85
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 0.40 -0.30 N/A
London -0.35 0.21 -0.45 N/A 0.12 0.33 -0.44 N/A
Hensall -0.25 N/A -0.35 N/A 0.25 N/A -0.25 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 -0.38 N/A N/A N/A -0.32 N/A
Norwich -0.25 N/A -0.35 N/A 0.25 N/A -0.25 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 -0.45 N/A 0.25 N/A -0.35 N/A
Chatham N/A N/A -0.44 N/A N/A 0.35 -0.45 N/A
Brigden N/A N/A -0.44 N/A N/A 0.35 -0.45 N/A
Palmerston N/A 0.40 -0.42 -0.22 N/A 0.44 -0.38 -0.56
Varna 0.35 0.55 -0.30 N/A 0.35 0.55 -0.30 N/A
Mitchell -0.25 0.05 -0.30 N/A 0.25 0.55 -0.25 N/A
Thornton N/A N/A N/A -0.27 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 -0.10 N/A N/A N/A -0.10 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 0.73 1.35 0.42N/A
Toledo El. 6.62US 6.79CA 6.70US 6.87CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.32 0.89 0.07 -0.27
CAD $/bu 7.00 7.57 6.75 7.47
CAD $/tonne 257.36 278.07 247.94 274.31
(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 320.00
FOB Hm Soymeal 473.78 - 478.19
DDG's FOB Srn, Wndr, Aylm 225.00 - 252.00
Wednesday May 23, 2012
Commodity
Period
Price
Weekly Movement - Wednesday to Friday
Corn CBOT
July
6.0350
↓
30.50
cents
Soybeans CBOT
July
13.6250
↓
72.00
cents
Wheat CBOT
July
6.8825
↑
9.25
cents
Wheat Minn.
July
7.7500
↓
6.75
cents
Wheat Kansas
July
6.8975
↓
1.00
cents
Canadian $
June
0.9740
↓
85.00
points
Wednesday saw financial markets in North America amid pessimism ahead of the EU
summit of in Brussels that would hope to succeed in coming up with a solution
that contains the Eurozone’s debt crisis.European shares fell as fears of
Greece leaving the EU resurfaced. Traders are speculating that money will likely
continue to drift out of equities and into bonds or cash in the near future. The
TSX also weighed down by a strike at Canadian Pacific, the country's
second-biggest railway. However, Ottawa is prepared to return to negotiations to
end the strike according to federal Labour Minister Lisa Raitt. According to the
OECD’s Economic Outlook, projections show the global economy is growing,
albeit slowly. Canada, Japan and the US are growing faster than the euro
countries. The OECD indicated that Canada should raise its interest rates, which
have been stagnant since late 2010 to avoid the inflationary repercussions of
the relative speedy growth. In addition, the OECD flagged Canada as having a
potential housing problem and indicated that hiking interest rates will help
contain it.
CORN
Corn futures rose initially in Chicago, while basis was weaker at river
terminals and firm at processors and elevators around the US Midwest as farmers
continue to delay crop sales.Corn futures held relatively firm against
liquidation as traders’ awaited confirmation of the wholesale cancellations of
US orders, speculation which fuelled a decline in the last trading session. US
corn is approximately 96% complete as opposed to 81% this time last year.
SOYBEANS
Soybean fell in Chicago amid lackluster old crop demand and speculation that
top global soy buyer China may have canceled some soy shipments due to
diminishing crush margins. The news also affected the soymeal and soyoil markets
adversely, depressing market prices. The economic situation in Europe and the
appreciating dollar remain bearish factors for the market. US soybeans are 76%
planted compared to 42% last year.
WHEAT
Wheat futures fell in Chicago for the second consecutive day on forecasts of
wet weather in Russia and as traders take profits from last week’s rally in
prices. Upward trending US dollar along with outside market pressures are
weighing on prices as well. Weather continues to be the critical factor as hot,
dry conditions are still forecasted for the US Midwest and Plains.
Grain exchanges in Chicago, Minneapolis and Kansas City have expanded to 21
hour e-trading window from 5pm to 2pm central time. Daily settlement continues
during the weekday from 9:30am to 1:15pm central time.
Contract prices for May 23rd, 2012 at close, are as follows:
SWW at $252.09 per tonne ($6.86/bu.), HRW at $280.39 per tonne ($7.55 /bu.),
HRS at $277.28 per tonne ($7.55 /bu.), and SRW at $253.98 per tonne ($6.91
/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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