[Farmmarketnews] Wednesday Closing Ontario Commodity Report & Ahmed Chilmeran Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Oct 24 16:15:02 EDT 2012
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, October 24
(All Bases in CAD)
Bank of Canada Noon exchange rate was 0.9946 up 0.0012
Chicago corn closed mixed.
DEC12 HI 7.63 1/2 DEC13 HI 6.43 1/2
LOW 7.51 1/2 LOW 6.33
CLOSE7.54 1/2 Down 1 1/2 CLOSE 6.39 1/2 Up 5 1/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +DEC12+MAR13+MAR13
CK Low -0.70 6.85 269.48 -0.75 5.65 222.23
CK High -0.50 7.05 277.35 -0.70 5.70 224.20
CK Avg -0.63 -0.61 6.91 272.10 -0.72 -0.72 5.68 223.55
Essex Cty -0.70 6.85 269.48 -0.75 5.65 222.23
Mdsx Low -0.65 6.90 271.44 -0.75 5.65 222.23
Mdsx High -0.60 6.95 273.41 -0.70 5.70 224.20
Mdsx Avg -0.63 -0.60 6.92 272.43 -0.73 -0.73 5.67 223.22
Hensall -0.60 6.95 273.41 -0.70 5.70 224.20
Bruce -0.70 6.85 269.48 -0.70 5.70 224.20
Putnam -0.65 6.90 271.44 -0.70 5.70 224.20
Burford -0.65 6.90 271.44 -0.75 5.65 222.23
Port Perry -0.70 6.85 269.48 -0.75 5.65 222.23
Norfolk -0.65 6.90 271.44 -0.70 5.70 224.20
Palmerston -0.65 6.90 271.44 -0.75 5.65 222.23
Varna -0.60 6.95 273.41 -0.70 5.70 224.20
Trenton -0.60 6.95 273.41 -0.75 5.65 222.23
Winchester -0.25 7.30 287.19 -0.70 5.70 224.20
North Gower -0.50 7.05 277.35 -0.77 5.63 221.45
Huron FOB -0.60 6.95 273.41 -0.70 5.70 224.20
Kent FOB -0.65 6.90 271.44 -0.70 5.70 224.20
Lamb FOB -0.65 6.90 271.44 -0.70 5.70 224.20
Mdsx FOB -0.65 -0.60 -0.55 -0.50 6.90 271.44 -0.75 5.65 222.23
FOB SW Que -0.75 6.80 267.51 -0.70 5.70 224.20
Track -0.25 7.30 287.19N/A
PROCESSORS
Chat-Eth N/A N/A N/A N/A N/A
Jhnstwn-Eth N/A N/A N/A N/A N/A
Aylmer-Eth -0.50 -0.50 -0.35 -0.30 7.05 277.35 N/A
Sarn-Eth -0.50 -0.50 -0.20 -0.20 7.05 277.35N/A
Cllngwd-Eth N/A N/A N/A N/A N/A*
London-Cas N/A -0.35 -0.30 -0.30 -0.55 5.85 230.11
Pt.Colb-Cas N/A -0.20 0.00 0.05 -0.50 5.90 232.08
Cardnl-Cas N/A -0.25 0.00 0.05 -0.50 5.90 232.08
W O Feed -0.15 -0.14 7.40 291.13
US Rep 0.50 0.51 8.05 316.72
Toledo El. 0.04 7.58 298.60 -0.43 5.97 234.83
TRANSFER
Sarnia N/A N/A
Pt. Stanley -0.60 6.95 273.41N/A
Hamilton -0.60 6.95273 2/5 -0.55 5.85230 1/9
MID SD CRN -0.60 6.94 1/2
HI SD CRN -0.50 7.04 1/2
*Wet Bid
Bank of Canada Noon exchange rate was 0.9946 up 0.0012
Chicago soybeans closed mixed.
NOV12 HI 15.74 3/4 NOV13 HI 13.42
LOW 15.49 1/4 LOW 13.29 1/4
CLOSE15.70 1/2 Up 17 1/4 CLOSE 13.34 Down 1
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +JAN1+JAN1+JAN13
CK Low -1.19 14.52 533.33-1.12 12.22 449.01
CK High -1.05 14.66 538.48-1.05 12.29 451.58
CK Average -1.13 -1.0714.58 535.66-1.07-1.0712.27 450.78
Essex Cty -0.94 14.77 542.52-0.78 12.56 461.50
Mdsx Low -1.10 14.61 536.64-1.05 12.29 451.58
Mdsx High -1.07 14.64 537.74-1.00 12.34 453.42
Mdsx Average -1.09 -1.0314.62 537.19-1.03-1.0312.32 452.50
Hensall -1.10 14.61 536.64-1.00 12.34 453.42
Bruce -1.05 14.66 538.48-0.90 12.44 457.09
Putnam -1.15 14.56 534.80-1.05 12.29 451.58
Burford -1.07 14.64 537.74-1.05 12.29 451.58
Port Perry -1.10 14.61 536.64-1.08 12.26 450.48
Norfolk -1.13 14.58 535.54-1.01 12.33 453.05
Palmerston -1.15 14.56 534.80-1.15 12.19 447.91
Varna -1.10 14.61 536.64-1.00 12.34 453.42
Trenton -0.93 14.78 542.89-1.10 12.24 449.74
Winchester -0.77 14.94 548.77-1.10 12.24 449.74
North Gower -0.80 14.91 547.66-0.99 12.35 453.78
Huron FOB -1.00 14.71 540.32-0.90 12.44 457.09
Kent FOB -1.18 14.53 533.70-1.06 12.28 451.21
Lambton FOB -1.18 14.53 533.70-1.06 12.28 451.21
Middlesex FOB N/A -0.86-0.81 N/A -0.89 12.45 457.46
PROCESSORS
Hamilton -0.65-0.40-0.35-0.30 15.06 553.18-0.50 12.84 471.79
Windsor -0.72-0.52-0.46-0.42 14.99 550.60-0.55 12.79 469.95
Winchester N/A N/A
TRANSFER
Hamilton -0.45-0.40-0.26 N/A 15.26 560.53-0.57 12.77 469.22
Pt. Stanley N/A N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC -0.10 15.61 573.39-0.25 13.09 480.98
Toledo El. -0.28 15.43 566.81-0.48 12.86 472.52
Bank of Canada Noon exchange rate was 0.9946 up 0.0012
Chicago wheat closed moderately higher.
DEC12 HI 8.95 JUL13 HI 8.73 1/2
LOW 8.65 LOW 8.49 1/2
CLOSE 8.84 Up 15 1/4 CLOSE 8.67 1/2 Up 16
Minni wheat closed slightly higher.
DEC12 HI 9.63 1/2 SEP13 HI 9.38
LOW 9.41 LOW 9.26
CLOSE 9.55 Up 10 CLOSE 9.34 1/4 Up 8 1/4
GFO Cash Wheat Prices - DEL Terminal
Current Crop 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.63 -0.43 -0.98 -0.98
CAD $/bu 8.21 8.41 7.86 8.57
CAD $/tonne 301.65 308.97 288.84 314.83
Direct MarkHarvest 2012 Harvest 2013
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 -1.30 N/A N/A -0.95 -1.30 N/A
London -0.98 -0.98 -1.32 N/A -0.98 -0.98 -1.32 N/A
Hensall -0.90 N/A -1.30 N/A -0.85 N/A -1.30 N/A
Trenton N/A N/A N/A N/A N/A N/A -1.40 N/A
Winchester N/A N/A N/A N/A N/A N/A N/A N/A
Essex N/A N/A -1.41 N/A N/A N/A -1.28 N/A
Norwich -0.90 N/A -1.30 N/A -0.85 N/A -1.30 N/A
Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A
Kent Bridge -0.90 N/A -1.30 N/A -0.85 N/A -1.30 N/A
Chatham N/A -0.92 -1.27 N/A N/A -0.92 -1.27 N/A
Brigden N/A -0.92 -1.27 N/A N/A -0.92 -1.27 N/A
Palmerston N/A -0.95 -1.28 -1.31 N/A -0.75 -1.27 -1.16
Varna -0.90 -0.95 -1.30 N/A -0.85 -1.20 -1.30 N/A
Mitchell -0.90 -1.00 -1.30 N/A -0.85 -1.00 -1.30 N/A
Thornton N/A N/A N/A -1.68 N/A N/A N/A N/A
North Gower N/A N/A N/A -0.92 N/A N/A N/A -0.97
TERMINAL
Sarnia N/A N/A N/A N/A N/A N/A N/A N/A
Hamilton N/A N/A -1.15 N/A N/A N/A -0.82 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 0.07N/A N/A N/A -0.10N/A
Toledo El. 8.58US 8.55CA 8.50US 8.50CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 13 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.35 -0.20 -0.70 -0.90
CAD $/bu 8.33 8.48 7.98 8.44
CAD $/tonne 305.89 311.40 293.03 310.21
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
Bayport Wheat 360.00 - 365.00
Bayport Oats 340.00
Bayport Barley 345.00
FOB Hm Soymeal 566.49 - 573.10
DDG's FOB Srn, Wndr, Aylm 250.00 - 265.00
Wednesday October 24, 2012
Commodity Period Price Weekly Movement - Thursday to Friday
Corn CBOT Dec 7.5375 ↓ 11.00 cents
Soybeans CBOT Nov 15.7050 ↑ 34.00 cents
Wheat CBOT Dec 8.8400 ↑ 2.25 cents
Wheat Minn. Dec 9.5500 ↑ 3.25 cents
Wheat Kansas Dec 9.2125 ↑ 16.50 cents
Canadian $ Dec 1.0040 ↓ 23.00 points
Bank of Canada governor Mark Carney said on Wednesday, that the bank is less likely to pursue raising its interest rates given the state of global economy, and the case of high household debt in Canada. Meanwhile, the US Federal Reserve restated its commitment to continue with providing economic stimulus to bring back the job market to more normal levels. It also indicated that it will keep interest rates fixed till mid-2015. Although the EU has implemented harsh austerity measures in recent time, debt problems are getting worse. EU's statistics bureau indicated that at the end of Q2, total government debt of the EU-17 countries that use the single currency was worth 90% cent of its combined total GDP for the year. This is by far the highest level since the euro was launched in 1999.
Corn
Corn was up in Chicago finding support from a blip in wheat prices. Corn and wheat track closely because they’re both used for animal feed. Cash bids are also gaining momentum since US corn harvest is approaching finish. Farmers will store more corn in favor of selling later down the year, making market fundamentals work towards more favorable prices.
Soybeans
Soybean was up in Chicago to a two week high on signs of improving demand. US exporters sold 105,000 metric tons of soybeans for delivery before August 31 to an unknown destination, according to the USDA. China, the world’s biggest buyer, boosted imports by 20% in September from a year earlier with US shipments almost four times higher than a year earlier.
WHEAT
Wheat spiked in Chicago following news of wheat export ban in Ukraine. Ukraine's Agriculture Minister on Wednesday said the country would ban wheat exports beginning November 15, after sever crop weather damage to harvest. This in turn, underpinned international prices with Egypt; the world’s largest wheat importer showed concern regarding securing contracted supplies, which fueled markets further. However, news from Ukraine assuring it will fulfil contracts helped calm markets down.
Contract prices for October 24th 2012 at 4pm, are as follows:
SWW at $301.56 per tonne ($8.21 /bu), HRW at $308.87 per tonne ($8.87/bu.),
HRS at $314.73 per tonne ($8.57/bu.), and SRW at $288.75 per tonne ($7.86 /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 uoguelph.ca
AgriLink website : www.ridgetownc.com/agrilink
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