[Farmmarketnews] Wednesday Ontario Commodity Report & Ahmed Chilmeran Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Sep 26 16:00:12 EDT 2012
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, September 26
(All Bases in CAD)
Bank of Canada Noon exchange rate was 0.9842 up 0.0072
Chicago corn closed lower.
DEC12 HI 7.44 3/4 DEC12 HI 7.44 3/4
LOW 7.22 1/2 LOW 7.22 1/2
CLOSE7.24 3/4 Down 19 CLOSE 7.24 3/4 Down 19
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 6.90 271.54 -0.65 6.60 259.73
CK High -0.05 7.20 283.35 -0.60 6.65 261.70
CK Avg -0.27 -0.17 6.98 274.82 -0.62 -0.52 6.63 261.04
Essex Cty -0.05 7.20 283.35 -0.60 6.65 261.70
Mdsx Low -0.35 6.90 271.54 -0.65 6.60 259.73
Mdsx High -0.30 6.95 273.51 -0.60 6.65 261.70
Mdsx Avg -0.33 -0.23 6.92 272.53 -0.63 -0.53 6.62 260.72
Hensall -0.25 7.00 275.48 -0.60 6.65 261.70
Bruce -0.30 6.95 273.51 -0.60 6.65 261.70
Putnam -0.30 6.95 273.51 -0.60 6.65 261.70
Burford -0.35 6.90 271.54 -0.65 6.60 259.73
Port Perry -0.30 6.95 273.51 -0.85 6.40 251.86
Norfolk -0.05 7.20 283.35 -0.60 6.65 261.70
Palmerston -0.30 6.95 273.51 -0.70 6.55 257.76
Varna -0.30 6.95 273.51 -0.65 6.60 259.73
Trenton -0.20 7.05 277.45 -0.60 6.65 261.70
Winchester N/A -0.30 6.95 273.51
North Gower N/A -0.70 6.55 257.76
Huron FOB -0.15 7.10 279.42 -0.60 6.65 261.70
Kent FOB -0.05 7.20 283.35 -0.60 6.65 261.70
Lamb FOB -0.05 7.20 283.35 -0.60 6.65 261.70
Mdsx FOB -0.25N/A N/A N/A 7.00 275.48 -0.65 6.60 259.73
FOB SW Que N/A -0.55 6.70 263.67
Track 0.10 7.35 289.26N/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 -0.10 -0.75 -0.35 7.15 281.38 -0.75 6.50 255.80
Sarn-Eth N/A -0.40 -0.40 -0.30 -0.40 6.85 269.57
Cllngwd-Eth N/A N/A N/A N/A N/A*
London-Cas N/A -0.30 -0.45 -0.35 -0.30 6.95 273.51
Pt.Colb-Cas -0.10 -0.30 -0.40 -0.30 7.15 281.38 -0.25 7.00 275.48
Cardnl-Cas -0.20 -0.40 -0.50 -0.30 7.05 277.45 -0.25 7.00 275.48
W O Feed 0.32 0.34 7.57 297.92
US Rep 0.60 0.62 7.85 308.94
Toledo El. N/A 0.07 7.32 288.04
TRANSFER
Sarnia N/A N/A
Pt. Stanley N/A N/A
Hamilton -0.65 6.60259 3/4 -0.65 6.60259 3/4
MID SD CRN -0.62 1/2 6.62 1/4
HI SD CRN -0.60 6.64 3/4
*Wet Bid
Bank of Canada Noon exchange rate was 0.9842 up 0.0072
Chicago soybeans closed lower.
NOV12 HI 16.13 1/4 NOV13 HI 13.56
LOW 15.65 LOW 13.15 1/2
CLOSE15.73 Down 38 1/2 CLOSE 13.21 1/4 Down 30 3/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +NOV1+NOV1+JAN13
CK Low -1.10 14.63 537.56-1.20 12.01 441.38
CK High -1.05 14.68 539.40-1.05 12.16 446.90
CK Average -1.08 -0.8614.65 538.42-1.12-0.9412.10 444.51
Essex Cty -1.00 14.73 541.23-0.89 12.32 452.77
Mdsx Low -1.08 14.65 538.30-1.09 12.12 445.43
Mdsx High -1.05 14.68 539.40-1.05 12.16 446.90
Mdsx Average -1.07 -0.8514.67 538.85-1.07-0.8912.14 446.16
Hensall -1.05 14.68 539.40-1.15 12.06 443.22
Bruce -1.05 14.68 539.40-1.05 12.16 446.90
Putnam -1.10 14.63 537.56-1.10 12.11 445.06
Burford -1.08 14.65 538.30-1.09 12.12 445.43
Port Perry -1.11 14.62 537.19-1.12 12.09 444.32
Norfolk -1.02 14.71 540.50-1.03 12.18 447.63
Palmerston -1.10 14.63 537.56-1.30 11.91 437.71
Varna -1.05 14.68 539.40-1.25 11.96 439.55
Trenton -1.00 14.73 541.23-1.22 11.99 440.65
Winchester N/A -0.84 12.37 454.61
North Gower -0.92 14.81 544.17 N/A
Huron FOB -0.95 14.78 543.07-1.20 12.01 441.38
Kent FOB -1.07 14.66 538.66-1.08 12.13 445.79
Lambton FOB -1.07 14.66 538.66-1.08 12.13 445.79
Middlesex FOB-0.92 N/A N/A N/A 14.81 544.17-0.93 12.28 451.30
PROCESSORS
Hamilton -0.65-0.65-0.55-0.50 15.08 554.10-0.53 12.68 466.00
Windsor -0.77-0.77 N/A -0.60 14.96 549.69-0.66 12.55 461.23
Winchester N/A N/A
TRANSFER
Hamilton -0.55 N/A N/A N/A 15.18 557.77-0.70 12.51 459.76
Pt. Stanley N/A N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC -0.10 15.63 574.30-0.35 12.86 472.62
Toledo El. -0.23 15.50 569.64-0.47 12.74 468.08
Bank of Canada Noon exchange rate was 0.9842 up 0.0072
Chicago wheat closed moderately lower.
DEC12 HI 8.89 JUL13 HI 8.60 3/4
LOW 8.66 1/4 LOW 8.41
CLOSE 8.69 1/4 Down 17 1/4 CLOSE 8.46 Down 14 1/2
Minni wheat closed moderately lower.
DEC12 HI 9.45 1/4 SEP13 HI 9.15 3/4
LOW 9.26 LOW 9.14
CLOSE 9.29 1/2 Down 12 3/4 CLOSE 9.15 3/4 Down 10
GFO Cash Wheat Prices - DEL Terminal
Current Crop 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.61 -0.41 -0.96 -0.96
CAD $/bu 8.08 8.28 7.74 8.33
CAD $/tonne 296.95 304.20 284.27 306.11
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 -1.01 -1.01 -1.35 N/A -0.80 -0.90 -1.20 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 -1.25 N/A
Winchester N/A N/A N/A N/A N/A N/A N/A N/A
Essex N/A N/A -1.47 N/A N/A N/A -1.26 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 -1.00 -1.33 N/A N/A -0.88 -1.18 N/A
Brigden N/A -1.00 -1.33 N/A N/A -0.88 -1.18 N/A
Palmerston N/A -0.82 -1.28 -1.27 N/A -0.81 -1.13 -1.22
Varna -0.95 -1.00 -1.35 N/A -0.75 -0.95 -1.20 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 -1.63 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 -1.20 N/A N/A N/A -0.75 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 0.47 -0.22N/A N/A 0.48 -0.11N/A
Toledo El. 8.39US 8.28CA 8.33US 8.22CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 13 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.41 -0.11 -0.76 -0.96
CAD $/bu 8.05 8.35 7.70 8.20
CAD $/tonne 295.78 306.65 283.09 301.12
(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 328.00
Bayport Barley 345.00
FOB Hm Soymeal 534.74 - 539.15
DDG's FOB Srn, Wndr, Aylm 285.00 - 315.00
Wednesday September 26, 2012
Commodity Period Price Weekly Movement - Wednesday to Friday
Corn CBOT Dec 7.2400 ↓ 26.75 cents
Soybeans CBOT Nov 15.7225 ↓ 50.50 cents
Wheat CBOT Dec 8.6925 ↓ 27.25 cents
Wheat Minn. Dec 9.2950 ↓ 27.50 cents
Wheat Kansas Dec 8.9300 ↓ 16.50 cents
Canadian $ Dec 1.0132 ↓ 102.00 points
European markets dipped following protests Spain and Greece against the austerity measures. The protests turned violent with the authorities forced to use tear gas and stun grenades to control the tens of thousands of protestors. Spain`s riots may be the quite before the storm when the government is set to announce its cutbacks tomorrow after the Spanish central bank warned that sever measures can cause social unrest in a country where 1 in 4 is unemployed. Markets were tamer in North America; the ripples hit financial markets and stock exchanges as well after oil and other commodities like gold fell. The loonie lost ground against the US greenback as commodity prices fell and investor sentiment turned negative as the EU fiasco played into global news.
Corn
Corn fell in Chicago pressured by an increase in supplies from US harvest. Price seasonality is showing after record highs in August. Prices seem to be coming down as farmers harvest their crops, with yields in some cases surpassing the expectations formed following that persistent drought that punished crops for months.
Soybeans
Soybeans fell in Chicago, as harvest in the US progress at a record pace. Global financial markets are putting pressure on prices with Europe`s woes continuing and China`s economy slowing down. China makes up the largest consumer and importer of soybeans, with about 28% of global consumption and 64% of world trade in the 2011-12 crop year. Demand for commodities like soybean are tightly linked to financial health of national markets, globalization meant more and more countries are becoming co-dependants on each other.
WHEAT
Wheat fell in Chicago following other commodities like corn and soy as harvest progresses in the US at a record pace. Stronger US dollar is also keeping pressure on markets, as Europe continues to struggle with its debt crisis. European wheat on the other hand was mostly firm supported by Egypt purchase of 300,000 tonnes of wheat. Egypt the world largest wheat importer, secured French and Romanian wheat for December FOB as confirmed by Egypt`s own General Authority for Supply Commodities.
Contract prices for September 26th, 2012 at 3:30pm, are as follows:
SWW at $297.11 per tonne ($8.09/bu), HRW at $304.36 per tonne ($8.28 /bu.),
HRS at $306.27 per tonne ($8.34/bu.), and SRW at $284.41 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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