[Farmmarketnews] Wednesday Ontario Commodity Report & Ahmed Chilmeran Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Feb 20 16:08:03 EST 2013
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, February 20
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.0163 up 0.0045
Chicago corn closed slightly higher.
MAR13 HI 7.01 1/2 DEC13 HI 5.62 1/2
LOW 6.93 1/4 LOW 5.55 1/4
CLOSE7.00 1/2 Up 5 1/4 CLOSE 5.61 1/2 Up 3 3/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +MAY13+MAY13+JUL13
CK Low -0.50 6.51 256.09 -0.75 4.87 191.53
CK High -0.50 6.51 256.09 -0.70 4.92 193.49
CK Avg -0.50 -0.63 6.51 256.09 -0.73 -0.85 4.88 192.18
Essex Cty -0.55 6.46 254.12 -0.70 4.92 193.49
Mdsx Low -0.50 6.51 256.09 -0.75 4.87 191.53
Mdsx High -0.50 6.51 256.09 -0.75 4.87 191.53
Mdsx Avg -0.50 -0.63 6.51 256.09 -0.75 -0.87 4.87 191.53
Hensall -0.50 6.51 256.09 -0.73 4.89 192.51
Bruce -0.50 6.51 256.09 -0.75 4.87 191.53
Putnam -0.50 6.51 256.09 -0.75 4.87 191.53
Burford -0.50 6.51 256.09 -0.75 4.87 191.53
Port Perry -0.55 6.46 254.12 -0.75 4.87 191.53
Norfolk -0.50 6.51 256.09 -0.70 4.92 193.49
Palmerston -0.50 6.51 256.09 -0.70 4.92 193.49
Varna -0.50 6.51 256.09 -0.70 4.92 193.49
Trenton -0.60 6.41 252.15 -0.70 4.92 193.49
Winchester -0.40 6.61 260.03 -0.65 4.97 195.46
North Gower -0.74 6.27 246.64 -0.65 4.97 195.46
Huron FOB -0.45 6.56 258.06 -0.70 4.92 193.49
Kent FOB -0.50 6.51 256.09 -0.70 4.92 193.49
Lamb FOB -0.50 6.51 256.09 -0.70 4.92 193.49
Mdsx FOB -0.50 -0.40 -0.35N/A 6.51 256.09 -0.75 4.87 191.53
FOB SW Que -0.25 6.76 265.93 -0.35 5.27 207.27
Track -0.18 6.83 268.89N/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 N/A N/A
Sarn-Eth -0.35 -0.35 -0.35 -0.15 6.66 262.00N/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 5.07 199.40
Pt.Colb-Ing N/A N/A N/A N/A -0.50 5.12 201.37
Cardnl-Ing N/A N/A N/A N/A -0.45 5.17 203.34
W O Feed -0.13 -0.15 6.88 270.66
US Rep 0.65 0.63 7.66 301.36
Toledo El. 0.16 7.17 282.19 -0.34 5.28 207.79
TRANSFER
Sarnia N/A N/A
Pt. Stanley -0.50 6.51 256.09 -0.75 4.87191 1/2
Hamilton -0.40 6.61260 -0.50 5.12201 3/8
MID SD CRN -0.50 6.50 1/2
HI SD CRN -0.50 6.50 1/2
*Wet Bid
Bank of Canada Noon exchange rate was 1.0163 up 0.0045
Chicago soybeans closed slightly to moderately higher.
MAR13 HI 14.92 NOV13 HI 12.91 1/4
LOW 14.66 1/2 LOW 12.71
CLOSE14.82 3/4 Up 12 1/2 CLOSE 12.87 Up 12 1/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +MAY1+MAY1+JUL13
CK Low -0.40 14.43 530.12-0.66 12.21 448.64
CK High -0.30 14.53 533.79-0.50 12.37 454.52
CK Average -0.36 -0.6414.47 531.71-0.63-0.8912.25 449.93
Essex Cty -0.31 14.52 533.43-0.43 12.44 457.09
Mdsx Low -0.35 14.48 531.96-0.62 12.25 450.11
Mdsx High -0.32 14.51 533.06-0.60 12.27 450.85
Mdsx Average -0.34 -0.6114.49 532.51-0.61-0.8712.26 450.48
Hensall -0.35 14.48 531.96-0.60 12.27 450.85
Bruce -0.35 14.48 531.96-0.60 12.27 450.85
Putnam -0.35 14.48 531.96-0.65 12.22 449.01
Burford -0.32 14.51 533.06-0.62 12.25 450.11
Port Perry -0.35 14.48 531.96-0.65 12.22 449.01
Norfolk -0.30 14.53 533.79-0.59 12.28 451.21
Palmerston -0.35 14.48 531.96-0.60 12.27 450.85
Varna -0.35 14.48 531.96-0.60 12.27 450.85
Trenton -0.25 14.58 535.63-0.55 12.32 452.68
Winchester -0.10 14.73 541.14-0.40 12.47 458.19
North Gower -0.40 14.43 530.12-0.49 12.38 454.89
Huron FOB -0.25 14.58 535.63-0.50 12.37 454.52
Kent FOB -0.30 14.53 533.79-0.64 12.23 449.38
Lambton FOB -0.30 14.53 533.79-0.64 12.23 449.38
Middlesex FOB-0.22-0.18 N/A N/A 14.61 536.73-0.41 12.46 457.83
PROCESSORS
Hamilton 0.20 0.20 0.25 0.25 15.03 552.17-0.10 12.77 469.22
Windsor -0.08-0.08-0.07 N/A 14.75 541.88-0.20 12.67 465.54
Winchester N/A N/A
TRANSFER
Hamilton 0.12 N/A N/A N/A 14.95 549.230.02 12.89 473.63
Pt. Stanley N/A N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC 0.45 15.28 561.350.28 13.15 483.18
Toledo El. 0.02 14.85 545.57-0.39 12.48 458.64
Bank of Canada Noon exchange rate was 1.0163 up 0.0045
Chicago wheat closed slightly higher.
MAR13 HI 7.40 3/4 JUL13 HI 7.49 3/4
LOW 7.27 3/4 LOW 7.37
CLOSE 7.38 1/2 Up 6 1/4 CLOSE 7.48 Up 6 1/4
Minni wheat closed slightly higher.
MAR13 HI 8.23 SEP13 HI 8.48 1/2
LOW 8.14 1/4 LOW 8.41 1/4
CLOSE 8.20 3/4 Up 5 CLOSE 8.45 3/4 Up 1 3/4
GFO Cash Wheat Prices - DEL Terminal
Current Crop 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.42 -0.22 -0.57 -0.76
CAD $/bu 6.96 7.17 6.81 7.45
CAD $/tonne 255.88 263.36 250.26 273.57
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 -0.95 -1.05 N/A
London -0.64 -0.69 -0.74 N/A -0.64 -0.79 -0.99 N/A
Hensall -0.60 N/A -0.80 N/A -0.70 N/A -1.05 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 -0.79 N/A N/A N/A -1.13 N/A
Norwich -0.60 N/A -0.80 N/A -0.70 N/A -1.05 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 -0.75 N/A -1.05 N/A
Chatham N/A -0.71 -0.76 N/A N/A -0.91 -1.01 N/A
Brigden N/A -0.71 -0.76 N/A N/A -0.91 -1.01 N/A
Palmerston N/A -0.53 -0.78 -0.71 N/A -0.83 -1.08 -0.86
Varna -0.50 -0.60 -0.75 N/A -0.65 -1.00 -1.10 N/A
Mitchell -0.60 -0.75 -0.80 N/A -0.70 -0.85 -1.05 N/A
Thornton N/A N/A N/A -1.02 N/A N/A N/A N/A
North Gower N/A N/A N/A -0.81 N/A N/A N/A -0.79
TERMINAL
Sarnia N/A N/A N/A N/A N/A N/A N/A N/A
Hamilton N/A N/A -0.18 N/A N/A N/A -0.77 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 0.24N/A 0.56N/A -0.05N/A
Toledo El. 7.16US 7.29CA 7.25US 7.40CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 13 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.31 -0.25 -0.77 -0.74
CAD $/bu 7.17 7.23 6.71 7.71
CAD $/tonne 263.61 265.48 246.73 283.39
(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 - 508.84
DDG's FOB Srn, Wndr, Aylm 285.00 - 290.00
Wednesday February 20, 2013
Commodity Period Price Weekly Movement - Wednesday to Friday
Corn CBOT Mar 7.0050 ↑ 3.75 cents
Soybeans CBOT Mar 14.7900 ↑ 55.75 cents
Wheat CBOT Mar 7.3850 ↑ 1.00 cents
Wheat Minn. Mar 8.2075 ↑ 0.00 cents
Wheat Kansas Mar 7.7725 ↓ 2.75 cents
Canadian $ Dec 0.9816 ↓ 108.00 points
The TSX was lower ahead of the Federal Reserve’s latest round of stimulus. Minutes of the recent policy meeting of the Federal Reserve indicate that the ongoing rounds of quantitative easing worth an estimated US $85 billion a month in Treasury and mortgage bonds are garnering some worries of inflation and a chance at unsettling financial markets. This scenario would see the Federal Reserve undertake some sever losses once it begins liquidating its investment portfolio. This saw the loonie fall to a seven month low relative to the greenback.
CIBC’s CEO, Gerry McCaughey in a statement called for Canadians to be allowed to make voluntary contributions to the Canada Pension Plan over and above what is already been deducted from salaries, citing a worrisome estimate by the bank’s economist. The bank is forecasting that Canadians in their late twenties and early thirties on average will experience a decline of 30% in their standard of living by retirement.
Corn
Corn futures were trading slightly higher at midday in Chicago. However, the modest rise is not enough to reverse the ongoing bearish trend which has seen Ontario producers generally reluctant to sell according to Kevin Hachler, of London Agricultural Commodities Inc. A new ethanol plant in Iowa will use fermented cobs, stems and husks of corn from over 123,000 acres of farmland, offering more in terms of energy and environmental security to the supply chain.
Soybeans
Soybean futures are trading higher on the Chicago Board of Trade for a third consecutive day on rising demand from China, the world’s largest buyer of the crop. Soybean price is also finding support from the ongoing dry weather conditions in Argentina. Oil World slashed its forecast for the Argentine soybean harvest over the dry conditions by 2 million tonnes to 50.0 million tonnes, a significant drop from the initial estimates of 56.0 million tonnes.
WHEAT
Wheat trade was mixed in Chicago and Kansas. The weather forecast continues to suggest areas of the wheat belt will experience heavy snowfall by the end of this week. China bought close to 350,000 tonnes of US wheat recently, 100,000 tonnes of Canadian wheat, and close to 400,000 tonnes of Australian wheat. Reports from Egypt, the world’s largest wheat importer, indicate that the country is left with 3.11 million tonnes of stocks, enough to meet consumption for next 126 days. The country has been struggling with a currency crisis with the Egyptian pound falling significantly against the US dollar.
Contract prices for February 15,20 2013 at noon3:30pm, are as follows:
SWW at $252255.71 18 per tonne ($6.88 95 /bu), HRW at $260262.11 67 per tonne ($7.1508/bu.),
HRS at $270272.57 78 per tonne ($7.3642/bu), and SRW at $247249.5715 per tonne ($6.7379/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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