[Farmmarketnews] Wednesday Ontario Commodity Report and Weekly Grain Market Commentary by Ahmed Chilmeran
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Sep 19 16:04:50 EDT 2012
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, September 19
(All Bases in CAD)
Bank of Canada Noon exchange rate was 0.9745 up 0.0003
Chicago corn closed higher.
DEC12 HI 7.59 1/4 DEC12 HI 7.59 1/4
LOW 7.39 1/2 LOW 7.39 1/2
CLOSE7.56 1/2 Up 16 1/2 CLOSE 7.56 1/2 Up 16 1/2
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +DEC12+DEC12+MAR13
CK Low -0.35 7.22 284.04 -0.65 6.92 272.23
CK High -0.30 7.27 286.01 -0.65 6.92 272.23
CK Avg -0.33 -0.14 7.24 285.03 -0.65 -0.47 6.92 272.23
Essex Cty -0.25 7.32 287.98 -0.65 6.92 272.23
Mdsx Low -0.35 7.22 284.04 -0.65 6.92 272.23
Mdsx High -0.30 7.27 286.01 -0.65 6.92 272.23
Mdsx Avg -0.33 -0.14 7.24 285.03 -0.65 -0.47 6.92 272.23
Hensall -0.30 7.27 286.01 -0.63 6.94 273.22
Bruce -0.30 7.27 286.01 -0.65 6.92 272.23
Putnam -0.30 7.27 286.01 -0.65 6.92 272.23
Burford -0.35 7.22 284.04 -0.65 6.92 272.23
Port Perry -0.30 7.27 286.01 -0.85 6.72 264.36
Norfolk -0.35 7.22 284.04 -0.65 6.92 272.23
Palmerston -0.30 7.27 286.01 -0.70 6.87 270.26
Varna -0.30 7.27 286.01 -0.65 6.92 272.23
Trenton 0.20 7.77 305.69 -0.65 6.92 272.23
Winchester N/A -0.40 7.17 282.07
North Gower N/A -0.72 6.85 269.48
Huron FOB -0.35 7.22 284.04 -0.65 6.92 272.23
Kent FOB -0.35 7.22 284.04 -0.65 6.92 272.23
Lamb FOB -0.35 7.22 284.04 -0.65 6.92 272.23
Mdsx FOB -0.20N/A N/A N/A 7.37 289.95 -0.65 6.92 272.23
FOB SW Que 0.10 7.67 301.76 -0.60 6.97 274.20
Track 0.18 7.74 304.71N/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 -0.10 -0.75 -0.75 -0.35 7.47 293.88 -0.75 6.82 268.29
Sarn-Eth 0.00 -0.40 -0.40 -0.30 7.57 297.82 -0.40 7.17 282.07
Cllngwd-Eth N/A N/A N/A N/A N/A*
London-Cas N/A -0.30 -0.45 -0.35 -0.30 7.27 286.01
Pt.Colb-Cas N/A -0.20 -0.40 -0.30 -0.40 7.17 282.07
Cardnl-Cas N/A -0.35 -0.50 -0.30 -0.40 7.17 282.07
W O Feed 0.27 0.29 7.84 308.45
US Rep 0.70 0.72 8.27 325.38
Toledo El. N/A 0.07 7.63 300.51
TRANSFER
Sarnia N/A N/A
Pt. Stanley N/A N/A
Hamilton N/A -0.81 6.76266
MID SD CRN -0.65 6.91 1/2
HI SD CRN -0.65 6.91 1/2
*Wet Bid
Bank of Canada Noon exchange rate was 0.9745 up 0.0003
Chicago soybeans closed moderately higher to higher.
NOV12 HI 16.75 3/4 NOV12 HI 16.75 3/4
LOW 16.43 LOW 16.43
CLOSE16.69 1/2 Up 29 1/2 CLOSE 16.69 1/2 Up 29 1/2
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +NOV1+NOV1+JAN13
CK Low -1.19 15.51 569.71-1.25 15.45 567.51
CK High -1.15 15.55 571.18-1.15 15.55 571.18
CK Average -1.17 -0.7715.53 570.45-1.19-0.7915.50 569.59
Essex Cty -1.01 15.69 576.33-1.13 15.57 571.92
Mdsx Low N/A -1.18 15.52 570.08
Mdsx High N/A -1.15 15.55 571.18
Mdsx Average N/A -1.17-0.7615.53 570.63
Hensall -1.20 15.50 569.34-1.18 15.52 570.26
Bruce N/A -1.15 15.55 571.18
Putnam N/A -1.25 15.45 567.51
Burford N/A -1.18 15.52 570.08
Port Perry N/A -1.21 15.49 568.98
Norfolk -1.14 15.56 571.55-1.14 15.56 571.55
Palmerston N/A -1.25 15.45 567.51
Varna -1.20 15.50 569.34-1.20 15.50 569.34
Trenton N/A -1.15 15.55 571.18
Winchester N/A -1.00 15.70 576.69
North Gower N/A -1.08 15.62 573.75
Huron FOB -1.10 15.60 573.02-1.10 15.60 573.02
Kent FOB -1.19 15.51 569.71-1.19 15.51 569.71
Lambton FOB -1.19 15.51 569.71-1.19 15.51 569.71
Middlesex FOB N/A N/A N/A N/A -1.00 15.70 576.69
PROCESSORS
Hamilton -0.76-0.76-0.66-0.61 15.94 585.51-0.76 15.94 585.51
Windsor -0.78-0.90-0.84-0.72 15.92 584.78-0.90 15.80 580.37
Winchester -1.00 15.70 576.69-0.90 15.80 580.37
TRANSFER
Hamilton N/A N/A N/A N/A -0.65 16.05 589.55
Pt. Stanley N/A N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC -0.42 16.28 598.00-0.42 16.28 598.00
Toledo El. N/A -0.24 16.45 604.47
Bank of Canada Noon exchange rate was 0.9745 up 0.0003
Chicago wheat closed moderately higher to higher.
DEC12 HI 8.83 JUL13 HI 8.67 1/2
LOW 8.65 LOW 8.47
CLOSE 8.81 1/2 Up 18 CLOSE 8.66 1/2 Up 20 1/2
Minni wheat closed moderately higher.
DEC12 HI 9.45 SEP13 HI 9.34
LOW 9.24 LOW 9.21
CLOSE 9.42 Up 17 1/2 CLOSE 9.34 Up 13 3/4
GFO Cash Wheat Prices - DEL Terminal
Current Crop 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.70 -0.50 -1.04 -1.06
CAD $/bu 8.12 8.31 7.77 8.36
CAD $/tonne 298.19 305.36 285.64 307.33
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 -1.05 -1.40 N/A N/A -0.95 -1.25 N/A
London -1.07 -1.07 -1.41 N/A -0.87 -0.96 -1.26 N/A
Hensall -1.00 N/A -1.40 N/A -0.95 N/A -1.25 N/A
Trenton N/A N/A -1.40 N/A N/A N/A -1.30 N/A
Winchester N/A N/A N/A -0.75 N/A N/A N/A N/A
Essex N/A N/A -1.43 N/A N/A N/A -1.27 N/A
Norwich -1.00 N/A -1.40 N/A -0.95 N/A -1.25 N/A
Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A
Kent Bridge -1.00 N/A -1.40 N/A -0.95 N/A -1.25 N/A
Chatham N/A -0.98 -1.37 N/A N/A -0.93 -1.22 N/A
Brigden N/A -0.98 -1.37 N/A N/A -0.93 -1.22 N/A
Palmerston N/A -0.89 -1.35 -1.34 N/A -0.89 -1.20 -1.29
Varna -1.00 -1.00 -1.40 N/A -0.80 -0.95 -1.25 N/A
Mitchell -1.00 -1.00 -1.40 N/A -0.95 -0.95 -1.25 N/A
Thornton N/A N/A N/A N/A N/A N/A N/A N/A
North Gower N/A N/A N/A -1.16 N/A N/A N/A N/A
TERMINAL
Sarnia N/A N/A N/A N/A N/A N/A N/A N/A
Hamilton N/A N/A -1.30 N/A N/A N/A -0.83 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 0.37 -0.31N/A N/A 0.38 -0.21N/A
Toledo El. 8.52US 8.31CA 8.59US 8.38CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 13 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.50 -0.21 -0.84 -1.05
CAD $/bu 8.16 8.46 7.82 8.29
CAD $/tonne 299.98 310.74 287.43 304.46
(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 335.00
Bayport Barley 340.00
FOB Hm Soymeal 558.55 - 561.86
DDG's FOB Srn, Wndr, Aylm 295.00 - 320.00
Weekly Market Commentary by Ahmed Chimeran, Grain Farmers of Ontario
Wednesday September 19, 2012
Commodity Period Price Weekly Movement - Thursday to Friday
Corn CBOT Dec 7.5375 ↓ 28.75 cents
Soybeans CBOT Nov 16.6950 ↓ 76.75 cents
Wheat CBOT Dec 8.7925 ↓ 42.25 cents
Wheat Minn. Dec 9.3900 ↓ 36.50 cents
Wheat Kansas Dec 9.0000 ↓ 41.50 cents
Canadian $ Dec 1.0243 ↓ 61.00 points
The TSX edged higher on Wednesday as the Bank of Japan joined the club of monetary easing central banks as witnessed prior in England, China and the US Federal reserve among others. The Japanese central bank reacted after a persistent weakening in exports and a prolonged slowdown in China’s economy. The bank eased monetary policy by boosting its asset-buying program to try to encourage consumer spending in the world's third largest economy. Energy shares dropped as crude oil prices fell below $95/barrel on Wednesday.
Corn
Corn rose in Chicago at midday. Corn futures continue to enjoy market gains, trading mostly within a 10 cent range. Prices are firming but remain well below market highs. Recently, the ethanol industry cut back on production rates due to the recent price spikes, but that trend seems to be returning back to normal levels given lower corn prices. The poultry sector is likely to be one of the first venues to reflect the recent spike in Corn, since chickens grown for meat have a short lifespan compared to hogs or beef cattle and would likely reflect the recent market changes.
Soybeans
Soybeans rose in Chicago after falling last week on expectations that crop yields across the drought-stricken US Midwest will exceed forecasts as harvesting moves at a record pace. Concerns remain as to whether world demand would be satisfied given the recent weather experienced in South America. Some farmers in North Dakota and Minnesota reported record high farm yields for soybean, benefiting from the late summer rains.
WHEAT
Wheat is up in Chicago after rising interest in buying from the recent lower prices. Wheat also found support from South Korean intention to purchase a combined 500,000 tonnes of wheat and other grains for feed in 2014, amounting to 5% of the country’s annual demand, to secure supplies in the event another price spike.
Contract prices for September 19th, 2012 at 3pm, are as follows:
SWW at $297.11 per tonne ($8.09 /bu), HRW at $304.27 per tonne ($8.28 /bu.),
HRS at $305.98 per tonne ($8.33/bu.), and SRW at $284.57 per tonne ($7.74 /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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