[Farmmarketnews] Wednesday Ontario Commodity Report and Grain Farmers of Ontario Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Dec 4 15:52:55 EST 2013
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, December 4
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.0696 up 0.0034
Chicago corn closed slightly higher.
MAR14 HI 4.39 1/2 DEC14 HI 4.68 3/4
LOW 4.26 1/2 LOW 4.56
CLOSE4.36 1/2 Up 5 1/4 CLOSE 4.64 1/4 Up 4 1/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +MAR14+MAR14+MAY14
CK Low -0.30 4.07 160.03 -0.45 4.19 165.05
CK High -0.25 4.12 162.00 -0.40 4.24 167.02
CK Avg -0.27 -0.58 4.10 161.34 -0.41 -0.74 4.23 166.69
Essex Cty -0.25 4.12 162.00 -0.40 4.24 167.02
Mdsx Low -0.25 4.12 162.00 -0.40 4.24 167.02
Mdsx High -0.25 4.12 162.00 -0.40 4.24 167.02
Mdsx Avg -0.25 -0.56 4.12 162.00 -0.40 -0.73 4.24 167.02
Hensall -0.25 4.12 162.00 -0.40 4.24 167.02
Bruce -0.30 4.07 160.03 -0.40 4.24 167.02
Putnam N/A -0.40 4.24 167.02
Burford -0.25 4.12 162.00 -0.40 4.24 167.02
Port Perry -0.35 4.02 158.06 -0.40 4.24 167.02
Norfolk -0.25 4.12 162.00 -0.40 4.24 167.02
Palmerston -0.25 4.12 162.00 -0.40 4.24 167.02
Varna -0.25 4.12 162.00 -0.40 4.24 167.02
Trenton -0.25 4.12 162.00 -0.45 4.19 165.05
Winchester N/A N/A
North Gower -0.28 4.09 160.82 -0.60 4.04 159.15
Huron FOB -0.20 4.17 163.97 -0.35 4.29 168.99
Kent FOB -0.25 4.12 162.00 -0.40 4.24 167.02
Lamb FOB -0.25 4.12 162.00 -0.40 4.24 167.02
Mdsx FOB -0.20 -0.20 -0.20N/A 4.17 163.97 -0.40 4.24 167.02
FOB SW Que 0.26 4.63 182.08N/A
Track 0.08 4.44 174.80N/A
PROCESSORS
Chat-Eth N/A -0.30 -0.25 -0.20 N/A
Jhnstwn-Eth N/A N/A N/A N/A N/A
Aylmer-Eth -0.20 -0.15 -0.10 -0.15 4.17 163.97 N/A
Sarn-Eth N/A N/A N/A -0.10 N/A
Cllngwd-Eth N/A N/A N/A N/A N/A*
London-Ing N/A N/A N/A -0.10 -0.50 4.14 163.08
Pt.Colb-Ing N/A 0.05 0.00 -0.05 0.10 4.74 186.70
Cardnl-Ing 0.15 0.05 0.00 -0.05 4.52 177.75 0.05 4.69 184.74
W O Feed 0.14 0.07 4.51 177.35
US Rep 0.45 0.38 4.82 189.56
Toledo El. -0.21 4.15 163.41 -0.39 4.26 167.58
TRANSFER
Sarnia N/A N/A
Pt. Stanley -0.25 4.12 162.00N/A
Hamilton 0.09 4.46175 2/5N/A
MID SD CRN -0.27 1/2 4.09
HI SD CRN -0.25 4.11 1/2
*Wet Bid
Bank of Canada Noon exchange rate was 1.0696 up 0.0034
Chicago soybeans closed slightly higher.
JAN14 HI 13.34 1/2 NOV14 HI 11.64
LOW 13.11 1/2 LOW 11.53 1/4
CLOSE13.29 1/2 Up 9 3/4 CLOSE 11.63 1/2 Up 5 3/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +JAN1+JAN1+MAR14
CK Low 0.40 13.70 503.21-0.15 11.49 422.00
CK High 0.44 13.74 504.670.00 11.64 427.51
CK Average 0.41 -0.5413.70 503.45-0.10-0.9311.53 423.72
Essex Cty 0.66 13.96 512.760.21 11.85 435.23
Mdsx Low 0.39 13.69 502.84-0.14 11.50 422.37
Mdsx High 0.40 13.70 503.21-0.10 11.54 423.84
Mdsx Average 0.40 -0.5513.69 503.02-0.12-0.9511.52 423.10
Hensall 0.40 13.70 503.21-0.10 11.54 423.84
Bruce 0.40 13.70 503.21-0.10 11.54 423.84
Putnam N/A -0.20 11.44 420.16
Burford 0.42 13.72 503.94-0.11 11.53 423.47
Port Perry 0.39 13.69 502.84-0.14 11.50 422.37
Norfolk 0.45 13.75 505.04-0.10 11.54 423.84
Palmerston 0.40 13.70 503.21-0.15 11.49 422.00
Varna 0.40 13.70 503.21-0.10 11.54 423.84
Trenton 0.30 13.60 499.53-0.15 11.49 422.00
Winchester 0.49 13.79 506.510.07 11.71 430.09
North Gower 0.37 13.67 502.10-0.03 11.61 426.41
Huron FOB 0.40 13.70 503.21-0.05 11.59 425.68
Kent FOB 0.40 13.70 503.21-0.15 11.49 422.00
Lambton FOB 0.40 13.70 503.21-0.15 11.49 422.00
Middlesex FOB0.62 0.69 0.69 N/A 13.92 511.29-0.01 11.63 427.15
PROCESSORS
Hamilton 0.95 0.85 N/A N/A 14.25 523.410.35 11.99 440.37
Windsor 0.59 0.90 0.91 N/A 13.89 510.190.44 12.08 443.68
Winchester N/A N/A
TRANSFER
Hamilton 0.97 N/A N/A N/A 14.27 524.15 N/A
Pt. Stanley N/A N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC 1.02 14.32 525.99 N/A
Toledo El. -0.03 13.26 487.33-0.41 11.23 412.55
Bank of Canada Noon exchange rate was 1.0696 up 0.0034
Chicago wheat closed slightly lower.
MAR14 HI 6.72 1/4 JUL14 HI 6.72
LOW 6.60 3/4 LOW 6.62 3/4
CLOSE 6.61 3/4 Down 6 1/2 CLOSE 6.63 1/2 Down 4 3/4
Minni wheat closed slightly to moderately lower.
MAR14 HI 7.09 1/4 SEP14 HI 7.18 1/2
LOW 6.91 LOW 7.13
CLOSE 6.92 1/2 Down 12 CLOSE 7.13 3/4 Down 6 3/4
GFO Cash Wheat Prices - DEL Terminal
Current Crop 13 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.17 0.04 -0.28 -0.52
CAD $/bu 6.45 6.66 6.34 6.40
CAD $/tonne 236.88 244.75 232.95 235.21
Direct MarkHarvest 2013 Harvest 2014
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 -0.35 -0.50 N/A
London -0.79 -0.15 -0.63 N/A -0.21 -0.21 -0.58 N/A
Hensall -0.10 N/A -0.40 N/A 0.00 N/A -0.50 N/A
Trenton N/A N/A N/A N/A N/A N/A -0.70 N/A
Winchester N/A N/A N/A N/A N/A N/A N/A N/A
Essex N/A N/A -0.50 N/A N/A N/A -0.44 N/A
Norwich -0.10 N/A -0.40 N/A 0.00 N/A -0.50 N/A
Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A
Kent Bridge -0.10 N/A -0.40 N/A 0.00 N/A -0.50 N/A
Chatham N/A -0.70 -0.50 N/A N/A N/A -0.55 N/A
Brigden N/A -0.70 -0.50 N/A N/A N/A -0.55 N/A
Palmerston N/A 0.08 -0.51 -0.43 N/A -0.15 -0.58 -0.42
Varna -0.10 0.30 -0.40 N/A -0.10 -0.10 -0.50 N/A
Mitchell -0.10 0.30 -0.40 N/A 0.00 -0.05 -0.50 N/A
Thornton N/A N/A N/A -0.22 N/A N/A N/A N/A
North Gower N/A N/A N/A -0.58 N/A N/A N/A -0.88
TERMINAL
Sarnia N/A N/A N/A N/A N/A N/A N/A N/A
Hamilton N/A N/A -0.02 N/A N/A N/A -0.25 N/A
Pt. Stanley N/A N/A N/A N/A N/A N/A N/A N/A
PROCESSORS
Toledo FM -0.17N/A 0.31N/A 1.12N/A 0.58N/A
Toledo El. 6.51US 6.97CA 6.51US 6.97CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 14 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.17 0.04 -0.38 -0.51
CAD $/bu 6.47 6.68 6.25 6.63
CAD $/tonne 237.57 245.44 229.70 243.57
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
Bayport Wheat 290.00 - 310.00
Bayport Oats 310.00
Bayport Barley 270.00
FOB Hm Soymeal 590.08 - 595.59
DDG's FOB Srn & Aylm 240.00 - 250.00
Wednesday, December 4 2013
Commodity Period Price Weekly Movement
Corn CBOT Mar. 4.36 ½ ↑ 10 cents
Soybeans CBOT Jan. 13.29 ½ ↑ 9 ½ cents
Wheat CBOT Mar. 6.61 ¾ ↓ 1 ¾ cents
Wheat Minn. Mar. 6.92 ½ ↓ 14 ¼ cents
Wheat Kansas Mar. 7.04 ¼ ↓ 2 ¼ cents
Canadian $ Mar. 0.9332 ↓ 78 points
CORN:
Concerns over where the low exists for corn are being discussed throughout marketing circles; some feel that we still haven’t seen the lows that could be possible. Many farmers in the US are still holding out on selling in hopes that better prices could be possible.
There is some pressure on the markets coming from the Asian market, where China has once again turned away import shipments totalling 120,000 metric tonnes. As with last week, some expect there could still be other shipments rejected in the near future as the cause for the rejection was concerns over the presence of GMO’s.
This past week, corn futures hit a low by Monday, December 2, 2013 but since then, have gained to finish Wednesday, December 4 ahead of last week to close at $4.36 ½ .
SOYBEANS:
Major positions in the global soybean market are being established. For Brazil, this means being the largest exporter of the crop should all go according to plan. For China, stocks are being rebuilt and the nation is expected to account for 64 percent of global soybean imports.
As with the corn crop, soybean sales by farmers in the US is lagging where they are reportedly holding off on selling in hopes of better prices. There were some gains on technical buys and a high of $13.46 was found on Monday, December 2 but the futures then fell back again to finish Wednesday, December 4 at $13.29 ½ .
WHEAT:
Canadian wheat surprised the market this week with the release of their production numbers. Previously, the estimate was 33 million metric tonnes and was raised to 37.5 million metric tonnes. Bloomberg stated that global shortages are not a concern this year for global wheat markets. Internationally, Australia is set to feed China’s demand for wheat this year in spite of concerns for freezing weather threatening the crop.
The winter futures rode the markets a bit this week. The cycle of climbing then falling back occurred twice. By the end of Wednesday, December 4, the futures finished at $6.61 ¾ . Spring future movement pushed lower Wednesday, December 4 and finished at $6.92 ½ .
2013 November contract prices for December 4, 2013 at close are as follows:
SWW at $236.94 per tonne ($6.45/bu.), HRW at $244.81 per tonne ($6.66/bu.), SRW at $233.00 per tonne ($6.34/bu.), and HRS at $235.26 per tonne ($6.40/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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