[Farmmarketnews] Thursday Ontario Commodity Report & Ahmed Chilmeran Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Thu Feb 7 16:31:28 EST 2013
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, February 7
(All Bases in CAD)
Bank of Canada Noon exchange rate was 0.9993 up 0.0033
Chicago corn closed moderately lower.
MAR13 HI 7.22 1/4 DEC13 HI 5.78 3/4
LOW 7.10 LOW 5.65 1/4
CLOSE7.10 3/4 Down 11 3/4 CLOSE 5.66 1/2 Down 12 1/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +MAY13+MAY13+JUL13
CK Low -0.60 6.51 256.19 -0.75 4.92 193.49
CK High -0.55 6.56 258.16 -0.70 4.97 195.46
CK Avg -0.58 -0.57 6.53 257.17 -0.74 -0.75 4.92 193.82
Essex Cty -0.55 6.56 258.16 -0.75 4.92 193.49
Mdsx Low -0.60 6.51 256.19 -0.75 4.92 193.49
Mdsx High -0.60 6.51 256.19 -0.75 4.92 193.49
Mdsx Avg -0.60 -0.59 6.51 256.19 -0.75 -0.76 4.92 193.49
Hensall -0.60 6.51 256.19 -0.75 4.92 193.49
Bruce -0.60 6.51 256.19 -0.75 4.92 193.49
Putnam -0.60 6.51 256.19 -0.75 4.92 193.49
Burford -0.60 6.51 256.19 -0.75 4.92 193.49
Port Perry -0.60 6.51 256.19 -0.75 4.92 193.49
Norfolk -0.55 6.56 258.16 -0.75 4.92 193.49
Palmerston -0.60 6.51 256.19 -0.70 4.97 195.46
Varna -0.60 6.51 256.19 -0.75 4.92 193.49
Trenton -0.60 6.51 256.19 -0.70 4.97 195.46
Winchester -0.30 6.81 268.00 -0.60 5.07 199.40
North Gower -0.74 6.37 250.68 -0.69 4.98 195.86
Huron FOB -0.50 6.61 260.13 -0.75 4.92 193.49
Kent FOB -0.55 6.56 258.16 -0.75 4.92 193.49
Lamb FOB -0.55 6.56 258.16 -0.75 4.92 193.49
Mdsx FOB -0.60 -0.55N/A N/A 6.51 256.19 -0.75 4.92 193.49
FOB SW Que -0.45 6.66 262.09 -0.50 5.17 203.34
Track -0.20 6.91 271.94N/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 N/A N/A N/A -0.25 N/A
Sarn-Eth -0.35 -0.35 -0.30 -0.15 6.76 266.03N/A
Cllngwd-Eth N/A N/A N/A N/A N/A*
London-Ing N/A N/A N/A -0.10 -0.55 5.12 201.37
Pt.Colb-Ing N/A N/A N/A N/A -0.50 5.17 203.34
Cardnl-Ing N/A N/A N/A N/A -0.45 5.22 205.31
W O Feed -0.22 -0.22 6.89 271.15
US Rep 0.40 0.40 7.51 295.56
Toledo El. N/A -0.33 5.33 210.01
TRANSFER
Sarnia N/A N/A
Pt. Stanley -0.55 6.56 258.16 -0.75 4.92193 1/2
Hamilton -0.55 6.56258 1/6 -0.60 5.07199 2/5
MID SD CRN -0.57 1/2 6.53 1/4
HI SD CRN -0.55 6.55 3/4
*Wet Bid
Bank of Canada Noon exchange rate was 0.9993 up 0.0033
Chicago soybeans closed slightly to moderately lower.
MAR13 HI 14.97 NOV13 HI 13.37
LOW 14.78 LOW 13.20
CLOSE14.86 3/4 Down 3/4 CLOSE 13.24 Down 12
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +MAY1+MAY1+JUL13
CK Low -0.60 14.27 524.24-0.85 12.39 455.25
CK High -0.50 14.37 527.92-0.75 12.49 458.93
CK Average -0.56 -0.5414.31 525.83-0.83-0.8412.42 456.17
Essex Cty -0.43 14.44 530.49-0.58 12.66 465.18
Mdsx Low -0.61 14.26 523.87-0.82 12.42 456.36
Mdsx High -0.50 14.37 527.92-0.80 12.44 457.09
Mdsx Average -0.56 -0.5414.31 525.89-0.81-0.8312.43 456.72
Hensall -0.53 14.34 527.00-0.80 12.44 457.09
Bruce -0.50 14.37 527.92-0.80 12.44 457.09
Putnam -0.50 14.37 527.92-0.85 12.39 455.25
Burford -0.61 14.26 523.87-0.82 12.42 456.36
Port Perry -0.64 14.23 522.77-0.85 12.39 455.25
Norfolk -0.50 14.37 527.92-0.80 12.44 457.09
Palmerston -0.55 14.32 526.08-0.80 12.44 457.09
Varna -0.55 14.32 526.08-0.80 12.44 457.09
Trenton -0.50 14.37 527.92-0.75 12.49 458.93
Winchester -0.40 14.47 531.59-0.60 12.64 464.44
North Gower -0.65 14.22 522.40-0.71 12.53 460.40
Huron FOB -0.45 14.42 529.75-0.70 12.54 460.77
Kent FOB -0.50 14.37 527.92-0.85 12.39 455.25
Lambton FOB -0.50 14.37 527.92-0.85 12.39 455.25
Middlesex FOB-0.47 N/A N/A N/A 14.40 529.02-0.71 12.53 460.40
PROCESSORS
Hamilton -0.050.00 0.00 0.05 14.82 544.45-0.35 12.89 473.63
Windsor -0.20-0.19-0.19-0.18 14.67 538.94-0.35 12.89 473.63
Winchester N/A N/A
TRANSFER
Hamilton -0.15 N/A N/A N/A 14.72 540.78-0.25 12.99 477.30
Pt. Stanley N/A N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC 0.15 15.02 551.800.00 13.24 486.49
Toledo El. N/A -0.38 12.86 472.51
Bank of Canada Noon exchange rate was 0.9993 up 0.0033
Chicago wheat closed slightly lower.
MAR13 HI 7.64 1/2 JUL13 HI 7.72 1/4
LOW 7.52 3/4 LOW 7.61
CLOSE 7.56 Down 5 1/2 CLOSE 7.63 1/2 Down 8 3/4
Minni wheat closed slightly lower.
MAR13 HI 8.49 1/2 SEP13 HI 8.69 3/4
LOW 8.38 1/4 LOW 8.61 3/4
CLOSE 8.39 1/4 Down 5 1/2 CLOSE 8.63 Down 6 1/2
GFO Cash Wheat Prices - DEL Terminal
Current Crop 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.56 -0.36 -0.71 -0.91
CAD $/bu 7.00 7.20 6.85 7.48
CAD $/tonne 257.29 264.63 251.78 275.00
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 -0.80 N/A N/A -1.00 -1.10 N/A
London -0.75 -0.80 -0.85 N/A -0.75 -0.90 -1.10 N/A
Hensall -0.60 N/A -0.80 N/A -0.60 N/A -1.10 N/A
Trenton N/A N/A N/A N/A N/A N/A -1.30 N/A
Winchester N/A N/A N/A N/A N/A N/A N/A -0.90
Essex N/A N/A -0.80 N/A N/A N/A -1.18 N/A
Norwich -0.60 N/A -0.80 N/A -0.60 N/A -1.10 N/A
Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A
Kent Bridge -0.65 N/A -0.85 N/A -0.65 N/A -1.10 N/A
Chatham N/A -0.80 -0.85 N/A N/A -1.00 -1.10 N/A
Brigden N/A -0.80 -0.85 N/A N/A -1.00 -1.10 N/A
Palmerston N/A -0.41 -0.81 -0.74 N/A -0.71 -1.11 -0.89
Varna -0.60 -0.70 -0.85 N/A -0.65 -1.00 -1.10 N/A
Mitchell -0.60 -0.75 -0.80 N/A -0.60 -0.85 -1.10 N/A
Thornton N/A N/A N/A -1.18 N/A N/A N/A N/A
North Gower N/A N/A N/A -0.92 N/A N/A N/A -0.91
TERMINAL
Sarnia N/A N/A N/A N/A N/A N/A N/A N/A
Hamilton N/A N/A -0.38 N/A N/A N/A -0.80 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 0.09N/A 0.41N/A -0.19N/A
Toledo El. N/A 7.41US 7.41CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 13 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.44 -0.39 -0.89 -0.89
CAD $/bu 7.19 7.24 6.74 7.74
CAD $/tonne 264.35 266.19 247.79 284.40
(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 350.00
Bayport Barley 330.00
FOB Hm Soymeal 502.22 - 504.43
DDG's FOB Srn, Wndr, Aylm 280.00 - 290.00
Thursday February 7, 2013
Commodity Period Price Weekly Movement - Wednesday to Friday
Corn CBOT Mar 7.1000 ↓ 33.00 cents
Soybeans CBOT Mar 14.8700 ↑ 5.00 cents
Wheat CBOT Mar 7.5600 ↓ 31.50 cents
Wheat Minn. Mar 8.3925 ↓ 32.00 cents
Wheat Kansas Mar 8.0100 ↓ 36.75 cents
Canadian $ Dec 1.0011 ↑ 13.00 points
European Union leaders are gathering in Brussels for a two day summit to decide on a seven-year budget worth an estimated €1 trillion. This summit follows a failed attempt to ink a deal in November. Another failure to agree on an EU budget would mean another bump in the road in medium-term planning and could possibly instill pessimism in financial markets. Recent tightening of Canadian mortgage rules appears to have a cushioning effect on the housing market, especially on the condominium side, according to a report by Statistics Canada. Nova Scotia’s Premier Darrell Dexter announced $10 million in funding for BlackBerry in exchange for a guarantee that the technology company will hire 400 people. $2 million a year has been budgeted over the next five years.
Corn
Corn futures fell in Chicago with the USDA expecting larger supplies later this year than previously forecast. According the CME, nationwide surveys in the US for corn inventories at the close of the 2012-13 marketing year are expected to total 618 million bushels, up 2.7% from the USDA’s January report. According to the Chicago Mercantile, US ethanol production edged higher in the last week, rebounding from its lowest level since the government started collecting data more than two years ago; however, poor demand continued to weigh on the market.
Soybeans
Soybeans were higher in Chicago following news of dry weather conditions in Argentina. The US dollar is trading higher which is giving markets a negative outlook. Higher export sales of 896,200 tonnes for the current marketing year and 771,000 tonnes are further adding support to market prices.
The Brazilian government is indicating that soybean production will increase due to a record increase in planting area with 68.2 million acres planted compared to 61.8 million last year.
WHEAT
Wheat was trading lower in Kansas and Chicago due to the pressures of a stronger US dollar and on investors liquidating positions ahead of the USDA report on Friday. Wheat will likely continue tracking corn in the near future, and a record crop of corn could negatively impact prices.
US wheat export sales were low with 290,800 tonnes reported for the current marketing year, down from 292,600 the week prior. Tunisia’s state grains office purchased 92,000 metric tons of soft milling wheat from Casillo Commodities, according to traders.
Contract prices for February 7, 2013 at 4pm, are as follows:
SWW at $257.29 per tonne ($7.00/bu), HRW at $264.63 per tonne ($7.20/bu.),
HRS at $275.00 per tonne ($7.48/bu.), and SRW at $251.79 per tonne ($6.85/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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