[Farmmarketnews] Wednesday Ontario Commodity Report & Ahmed Chilmeran Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed May 30 16:24:28 EDT 2012
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, May 30
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.0286 up 0.0033
Chicago corn closed mixed.
JUL12 HI 5.68 1/4 DEC12 HI 5.22 1/2
LOW 5.53 1/2 LOW 5.11 1/2
CLOSE5.60 1/4 Down 2 1/4 CLOSE 5.21 1/2 Up 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 5.40 212.69 -0.60 4.62 181.68
CK High -0.10 5.50 216.62 -0.59 4.63 182.08
CK Avg -0.14 -0.31 5.46 214.98 -0.60 -0.76 4.62 181.75
Essex Cty -0.10 5.50 216.62 -0.70 4.52 177.75
Mdsx Low -0.15 5.45 214.66 -0.60 4.62 181.68
Mdsx High -0.15 5.45 214.66 -0.60 4.62 181.68
Mdsx Avg -0.15 -0.32 5.45 214.66 -0.60 -0.76 4.62 181.68
Hensall -0.18 5.43 213.67 -0.60 4.62 181.68
Bruce -0.15 5.45 214.66 -0.60 4.62 181.68
Putnam -0.15 5.45 214.66 -0.60 4.62 181.68
Burford -0.15 5.45 214.66 -0.60 4.62 181.68
Port Perry -0.15 5.45 214.66 -0.60 4.62 181.68
Norfolk -0.10 5.50 216.62 -0.59 4.63 182.08
Palmerston -0.25 5.35 210.72 -0.60 4.62 181.68
Varna -0.20 5.40 212.69 -0.60 4.62 181.68
Trenton 0.10 5.70 224.50 -0.65 4.57 179.72
Winchester 0.20 5.80 228.43 -0.50 4.72 185.62
North Gower -0.10 5.50 216.62 -0.65 4.57 179.72
Huron FOB -0.15 5.45 214.66 -0.55 4.67 183.65
Kent FOB -0.10 5.50 216.62 -0.59 4.63 182.08
Lamb FOB -0.10 5.50 216.62 -0.59 4.63 182.08
Mdsx FOB -0.15 -0.10N/A N/A 5.45 214.66 -0.60 4.62 181.68
FOB SW Que 0.65 6.25 246.15 -0.20 5.02 197.43
Track 0.15 5.75 226.47N/A
PROCESSORS
Chat-Eth N/A N/A N/A N/A -0.45 4.77 187.59
Jhnstwn-Eth N/A N/A N/A N/A -0.25 4.97 195.46
Aylmer-Eth -0.40 -0.35 0.50 0.55 5.20 204.81 -0.60 4.62 181.68
Sarn-Eth N/A 0.00 0.70 0.75 N/A
Cllngwd-Eth -0.10N/A N/A N/A 5.50 216.62-0.30* 4.92 193.49
London-Cas N/A N/A 0.80 0.85 -0.50 4.72 185.62
Pt.Colb-Cas N/A N/A 0.85 0.90 -0.45 4.77 187.59
Cardnl-Cas N/A N/A 1.05 1.15 -0.45 4.77 187.59
W O Feed 0.16 0.13 5.76 226.86
US Rep 0.95 0.92 6.55 257.96
Toledo El. 0.33 5.93 233.54 -0.34 4.87 191.92
TRANSFER
Sarnia N/A N/A
Pt. Stanley N/A N/A
Hamilton 0.15 5.75226 1/2 -0.35 4.87191 1/2
MID SD CRN -0.59 1/2 4.62
HI SD CRN -0.59 4.62 1/2
*Wet Bid
Bank of Canada Noon exchange rate was 1.0286 up 0.0033
Chicago soybeans closed mixed.
JUL12 HI 13.94 1/2 NOV12 HI 13.02
LOW 13.64 1/4 LOW 12.81 1/4
CLOSE13.78 1/4 Down 8 1/2 CLOSE 12.96 3/4 Up 3 1/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +JUL1+JUL1+AUG12
CK Low -0.30 13.48 495.40-0.45 12.52 459.94
CK High -0.10 13.68 502.75-0.25 12.72 467.29
CK Average -0.22 -0.6313.57 498.52-0.39-0.7912.58 462.08
Essex Cty -0.01 13.77 506.05-0.16 12.81 470.60
Mdsx Low -0.25 13.53 497.23-0.40 12.57 461.78
Mdsx High -0.21 13.57 498.70-0.32 12.65 464.72
Mdsx Average -0.23 -0.6513.55 497.97-0.36-0.7512.61 463.25
Hensall -0.25 13.53 497.23-0.38 12.59 462.70
Bruce -0.25 13.53 497.23-0.40 12.57 461.78
Putnam -0.15 13.63 500.91-0.35 12.62 463.61
Burford -0.21 13.57 498.70-0.32 12.65 464.72
Port Perry -0.24 13.54 497.60-0.35 12.62 463.61
Norfolk -0.06 13.72 504.22-0.34 12.63 463.98
Palmerston -0.30 13.48 495.40-0.35 12.62 463.61
Varna -0.40 13.38 491.72-0.40 12.57 461.78
Trenton -0.36 13.42 493.19-0.39 12.58 462.14
Winchester -0.41 13.37 491.36-0.30 12.67 465.45
North Gower -0.44 13.34 490.25-0.23 12.74 468.02
Huron FOB -0.15 13.63 500.91-0.25 12.72 467.29
Kent FOB -0.10 13.68 502.75-0.39 12.58 462.14
Lambton FOB -0.10 13.68 502.75-0.39 12.58 462.14
Middlesex FOB-0.11-0.11-0.03 N/A 13.67 502.38-0.08 12.89 473.53
PROCESSORS
Hamilton 0.15 0.25 0.30 0.55 13.93 511.930.15 13.12 481.99
Windsor 0.22 0.22 0.23 N/A 14.00 514.500.07 13.04 479.05
Winchester -0.38 13.40 492.46-0.25 12.72 467.29
TRANSFER
Hamilton 0.25 N/A N/A N/A 14.03 515.610.30 13.27 487.50
Pt. Stanley N/A N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC 0.30 14.08 517.440.50 13.47 494.85
Toledo El. -0.18 13.61 499.98-0.29 12.68 465.87
Bank of Canada Noon exchange rate was 1.0286 up 0.0033
Chicago wheat closed slightly lower.
JUL12 HI 6.61 1/4 JUL12 HI 6.61 1/4
LOW 6.44 1/4 LOW 6.44 1/4
CLOSE 6.51 Down 5 3/4 CLOSE 6.51 Down 5 3/4
Minni wheat closed slightly lower.
JUL12 HI 7.74 3/4 SEP12 HI 7.71
LOW 7.60 1/4 LOW 7.58 1/2
CLOSE 7.64 Down 7 3/4 CLOSE 7.62 3/4 Down 5 1/2
GFO Cash Wheat Prices - DEL Terminal
Current Crop 11 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.01 0.76 0.04 -0.18
CAD $/bu 6.50 7.27 6.55 7.46
CAD $/tonne 238.90 267.30 240.79 274.11
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 -0.25 N/A
London -0.32 0.25 -0.42 N/A 0.20 0.35 -0.38 N/A
Hensall -0.30 N/A -0.30 N/A 0.20 N/A -0.25 N/A
Trenton N/A N/A N/A N/A N/A N/A -0.45 N/A
Winchester N/A N/A N/A N/A N/A N/A N/A -0.38
Essex N/A N/A -0.36 N/A N/A N/A -0.36 N/A
Norwich -0.30 N/A -0.30 N/A 0.20 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 -0.35 N/A -0.35 N/A 0.20 N/A -0.35 N/A
Chatham N/A N/A -0.30 N/A N/A 0.42 -0.30 N/A
Brigden N/A N/A -0.30 N/A N/A 0.42 -0.30 N/A
Palmerston N/A 0.45 -0.37 -0.15 N/A 0.49 -0.33 -0.50
Varna 0.35 0.55 -0.30 N/A 0.35 0.55 -0.30 N/A
Mitchell -0.30 0.05 -0.30 N/A 0.20 0.50 -0.25 N/A
Thornton N/A N/A N/A -0.64 N/A N/A N/A N/A
North Gower N/A N/A N/A N/A N/A N/A N/A -0.34
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 0.30N/A 0.76 1.38 0.46N/A
Toledo El. 6.53US 6.73CA 6.53US 6.73CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.35 0.92 0.09 -0.23
CAD $/bu 6.86 7.43 6.60 7.40
CAD $/tonne 252.15 272.97 242.69 271.74
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
Bayport Wheat 325.00 - 330.00
Bayport Oats 315.00
Bayport Barley 315.00
FOB Hm Soymeal 485.03 - 490.54
DDG's FOB Srn, Wndr, ALM 225.00 - 263.00
Wednesday May 30, 2012
Commodity
Period
Price
Weekly Movement - Wednesday to Friday
Corn CBOT
July
5.5950
↓
16.25
cents
Soybeans CBOT
July
13.7325
↓
3.75
cents
Wheat CBOT
July
6.5100
↓
27.50
cents
Wheat Minn.
July
7.6400
↓
21.25
cents
Wheat Kansas
July
7.0325
↑
0.00
cents
Canadian $
June
0.9711
↑
8.00
points
The EU fiasco continues with Spain’s borrowing costs soaring on Wednesday
reaching a record high since joining the EU. The levels are comparable to other
debt stricken countries such as Greece and Ireland who have turned and asked for
international bailout. The interest rate on Spanish 10 year bonds, a key
indicator of market confidence, shot up 25 basis points Wednesday matching the
level it hit at the height of the euro zone crisis late last year. The TSX
tumbled amid growing worries about Spain's banking sector and the future of tech
giant Research in Motion Ltd. The euro slumped to a near two year low against
the dollar with no signs of relief. Canada's dollar slipped to a four and a half
month low against its US counterpart. Meanwhile, Canadian home prices rose in
April for the second straight month, with prices up from March according to the
Teranet-National Bank Composite House Price Index. The index measures price
changes for repeat sales of single family homes; showed overall prices climbed
0.8% in April from a month earlier.
CORN
Corn was firm in Chicago amid the ongoing economic turmoil in the EU with Spain
and Italy’s news of rising debt costs.Farmers held remaining supplies of
old-crop off the market, in favour of future higher prices. Spot basis were
mostly flat at processors and ethanol plants. The cash market was quiet for the
most part as producers continue working on equipment and deliveries of
previously contracted grain. Cooler weather and showers were expected at midweek
in most of the Midwest which will help prospects. Corn crop was 92% emerged
compared to the five-year average of 69% according to the USDA.
SOYBEANS
Soybean fell in Chicago amid the ongoing economic turmoil in the EU with Spain
and Italy’s news of rising debt costs.Spot basis were mostly firm at elevators
and processors in the US Midwest on Wednesday while farmers delay crop sales
awaiting higher prices.Cooler weather and showers were expected at midweek in
most of the Midwest which will help crop prospects.
WHEAT
Wheat futures fell in Chicago for the second session on weak economic
conditions in Europe and a stronger US dollar. Wheat prices came under pressure
with European benchmark milling wheat futures falling on Wednesday following
weaker US markets, and reports of rain in dry southern Russia and the US Midwest
this week.The winter wheat crop rating is 54% good/excellent compared to last
year’s 33% and the five year average of 49%. Winter wheat harvesting advanced
from 3% to 9% this week, well ahead of 2% last year and the 1% five year
average. National spring wheat condition ratings, on the other hand, rose 5% as
of Sunday night to 79% good/excellent.
Contract prices for May 30th, 2012 at close, are as follows:
SWW at $238.76 per tonne ($6.50/bu.), HRW at $267.14 per tonne ($7.27 /bu.),
HRS at $273.95 per tonne ($7.46 /bu.), and SRW at $240.65 per tonne ($6.55
/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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