[Farmmarketnews] Wednesday Ontario Commodity Report & GFO Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Jun 19 16:18:47 EDT 2013
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, June 19
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.0187 down 0.0022
Chicago corn closed moderately higher to higher.
JUL13 HI 6.83 1/2 DEC13 HI 5.71
LOW 6.65 1/4 LOW 5.47
CLOSE6.82 1/4 Up 9 CLOSE 5.70 1/2 Up 20
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +SEP13+SEP13+DEC13
CK Low -0.35 6.47 254.81 -0.80 4.91 193.10
CK High -0.25 6.57 258.75 -0.70 5.01 197.04
CK Avg -0.30 -0.48 6.52 256.78 -0.78 -0.93 4.93 194.09
Essex Cty -0.15 6.67 262.68 -0.80 4.91 193.10
Mdsx Low -0.35 6.47 254.81 -0.80 4.91 193.10
Mdsx High -0.30 6.52 256.78 -0.80 4.91 193.10
Mdsx Avg -0.33 -0.50 6.50 255.80 -0.80 -0.95 4.91 193.10
Hensall -0.35 6.47 254.81 -0.78 4.93 194.09
Bruce -0.35 6.47 254.81 -0.80 4.91 193.10
Putnam N/A -0.70 5.01 197.04
Burford -0.30 6.52 256.78 -0.80 4.91 193.10
Port Perry -0.40 6.42 252.84 -0.80 4.91 193.10
Norfolk -0.30 6.52 256.78 -0.75 4.96 195.07
Palmerston -0.27 6.55 257.96 -0.75 4.96 195.07
Varna -0.35 6.47 254.81 -0.75 4.96 195.07
Trenton -0.40 6.42 252.84 -0.70 5.01 197.04
Winchester -0.30 6.52 256.78 -0.50 5.21 204.91
North Gower -0.38 6.44 253.63 -0.69 5.02 197.43
Huron FOB -0.02 6.80 267.80 -0.75 4.96 195.07
Kent FOB -0.20 6.62 260.72 -0.80 4.91 193.10
Lamb FOB -0.20 6.62 260.72 -0.80 4.91 193.10
Mdsx FOB -0.20 0.60 0.70N/A 6.62 260.72 -0.75 4.96 195.07
FOB SW Que -0.15 6.67 262.68 -0.55 5.16 202.94
Track 0.08 6.90 271.54N/A
PROCESSORS
Chat-Eth N/A 0.90 0.95 1.30 N/A
Jhnstwn-Eth N/A N/A N/A N/A N/A
Aylmer-Eth -0.25 0.50 0.55 0.70 6.57 258.75 -0.55 5.16 202.94
Sarn-Eth -0.20 0.80 0.95 1.25 6.62 260.72N/A
Cllngwd-Eth N/A N/A N/A N/A N/A*
London-Ing N/A N/A 0.90 1.00 -0.45 5.26 206.88
Pt.Colb-Ing N/A N/A 0.85 1.05 -0.40 5.31 208.85
Cardnl-Ing N/A N/A N/A 1.05 -0.40 5.31 208.85
W O Feed 0.09 0.07 6.92 272.29
US Rep 0.60 0.58 7.42 292.21
Toledo El. 0.40 7.22 284.35 -0.31 5.40 212.47
TRANSFER
Sarnia N/A N/A
Pt. Stanley -0.25 6.57 258.75 -0.85 4.86191 1/8
Hamilton N/A -0.55 5.16203
MID SD CRN -0.75 4.95 1/2
HI SD CRN -0.70 5.00 1/2
*Wet Bid
Bank of Canada Noon exchange rate was 1.0187 down 0.0022
Chicago soybeans closed slightly to moderately higher.
AUG13 HI 14.50 1/2 NOV13 HI 13.19
LOW 14.29 LOW 12.85 1/2
CLOSE14.47 Up 11 1/2 CLOSE 13.10 3/4 Up 21
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +AUG1+AUG1+AUG13
CK Low 0.75 15.22 559.24-0.63 12.48 458.47
CK High 0.80 15.27 561.08-0.50 12.61 463.25
CK Average 0.77 0.39 15.24 559.97-0.58-0.9212.53 460.31
Essex Cty 1.01 15.48 568.79-0.27 12.84 471.70
Mdsx Low 0.75 15.22 559.24-0.63 12.48 458.47
Mdsx High 0.75 15.22 559.24-0.55 12.56 461.41
Mdsx Average 0.75 0.37 15.22 559.24-0.59-0.9312.52 459.94
Hensall 0.75 15.22 559.24-0.58 12.53 460.49
Bruce 0.75 15.22 559.24-0.55 12.56 461.41
Putnam N/A -0.50 12.61 463.25
Burford 0.81 15.28 561.44-0.57 12.54 460.67
Port Perry 0.75 15.22 559.24-0.63 12.48 458.47
Norfolk 0.82 15.29 561.81-0.55 12.56 461.41
Palmerston 0.75 15.22 559.24-0.65 12.46 457.73
Varna 0.75 15.22 559.24-0.60 12.51 459.57
Trenton 0.85 15.32 562.91-0.45 12.66 465.08
Winchester 0.69 15.16 557.03-0.26 12.85 472.06
North Gower 0.85 15.32 562.91-0.38 12.73 467.66
Huron FOB 0.87 15.34 563.65-0.55 12.56 461.41
Kent FOB 0.82 15.29 561.81-0.45 12.66 465.08
Lambton FOB 0.82 15.29 561.81-0.45 12.66 465.08
Middlesex FOB0.95 1.17 132.0 N/A 15.42 566.59-0.40 12.71 466.92
PROCESSORS
Hamilton 1.30 1.55 1.65 N/A 15.77 579.45-0.05 13.06 479.78
Windsor 1.23 1.23 1.26 N/A 15.70 576.88-0.04 13.07 480.15
Winchester N/A N/A
TRANSFER
Hamilton N/A N/A N/A N/A 0.10 13.21 485.29
Pt. Stanley N/A N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC N/A 0.55 13.66 501.83
Toledo El. 0.75 15.22 559.21-0.39 12.72 467.29
Bank of Canada Noon exchange rate was 1.0187 down 0.0022
Chicago wheat closed moderately higher.
SEP13 HI 7.18 SEP13 HI 7.18
LOW 6.89 3/4 LOW 6.89 3/4
CLOSE 7.14 1/4 Up 19 1/2 CLOSE 7.14 1/4 Up 19 1/2
Minni wheat closed moderately higher.
SEP13 HI 7.99 3/4 SEP13 HI 7.99 3/4
LOW 7.79 1/4 LOW 7.79 1/4
CLOSE 7.94 3/4 Up 14 1/2 CLOSE 7.94 3/4 Up 14 1/2
GFO Cash Wheat Prices - DEL Terminal
Current Crop 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.27 -0.38 -0.74 -0.71
CAD $/bu 6.87 6.77 6.41 7.23
CAD $/tonne 252.37 248.60 235.41 265.76
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 N/A N/A N/A -1.03 -1.17 N/A
London -0.74 -0.59 -0.59 N/A -0.69 -1.00 -1.15 N/A
Hensall -0.60 N/A -0.60 N/A -0.70 N/A -1.20 N/A
Trenton N/A N/A N/A 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 -0.78
Essex N/A N/A -0.40 N/A N/A N/A -0.97 N/A
Norwich -0.60 N/A -0.60 N/A -0.70 N/A -1.20 N/A
Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A
Kent Bridge -0.60 N/A -0.60 N/A -0.70 N/A -1.20 N/A
Chatham N/A N/A N/A N/A N/A -1.08 -1.13 N/A
Brigden N/A N/A N/A N/A N/A -1.08 -1.13 N/A
Palmerston N/A -0.54 -0.66 -0.77 N/A -0.91 -1.28 -0.80
Varna -0.53 -0.57 -0.57 N/A -0.77 -1.07 -1.17 N/A
Mitchell -0.60 -0.60 -0.60 N/A -0.70 -1.05 -1.20 N/A
Thornton N/A N/A N/A -0.95 N/A N/A N/A N/A
North Gower N/A N/A N/A -0.66 N/A N/A N/A -0.82
TERMINAL
Sarnia N/A N/A N/A N/A N/A N/A N/A N/A
Hamilton N/A N/A -0.65 N/A N/A N/A -0.72 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 N/A N/A 0.42N/A 0.12N/A
Toledo El. N/A 7.01US 7.20CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 13 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.27 -0.38 -0.74 -0.71
CAD $/bu 6.87 6.77 6.41 7.23
CAD $/tonne 252.37 248.60 235.41 265.76
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
Bayport Wheat 347.00 - 350.00
Bayport Oats 325.00
Bayport Barley 320.00
FOB Hm Soymeal 571.67 - 574.98
DDG's FOB Srn & Aylm 275.00 - 280.00
Wednesday June 19, 2013
Commodity Period Price Weekly Movement
Corn CBOT Sept. 6.82 ¼ ↑ 107 ¼ cents
Soybeans CBOT Sept. 15.23 ↑ 164 ¼ cents
Wheat CBOT Sept. 7.14 ¼ ↑ 23 ¼ cents
Wheat Minn. Sept. 7.94 ¾ ↑ 4 ¾ cents
Wheat Kansas Sept. 7.40 ½ ↑ 19 ¾ cents
Canadian $ Sept. 0.9744 ↓ 25 points
CORN:
According to the projections of Informa Economics, the US will plant 95.262 million acres of corn. This total is lower than last year’s plantings and also lower than the USDA’s estimates. Informa argues that the unfavourable spring weather delayed plantings and also shifted planting intentions.
US corn emergence was last reported at 92 percent, this is below the five year average of 97 percent. Approximately 64 percent of the corn is in good to excellent condition, compared to 63 percent a year ago.
SOYBEANS:
As of June 16, 85 percent of the expected US soybean crop has been planted up from 71 percent a week ago. For the first soybean condition report this crop year, 64 percent of the soybean crop was rated as good to excellent. Recent rains have helped the condition of established crops despite a slow start to planting this year.
Informa Economics estimates that the US will plant 77.756 million acres of soybeans this year. This would be an increase in acreage from last year and is more than 600,000 acres larger than the previous USDA estimate. Again, the wet spring has contributed to delayed plantings. Ontario has also had some unfavourable conditions with the wet weather as farmers continue their soybean planting.
WHEAT:
Informa estimates that US spring wheat plantings will be 11.791 million acres, and all wheat acreage is estimated at 55.5 million acres. The decrease in US acreage will be negated by increased production here in Canada, Russia and the Ukraine. The USDA estimates that production in the Ukraine will increase 24 percent and Russian production by 43 percent. Increased global wheat production and higher corn production could limit upward potential of wheat futures this year.
As with planting delays of corn and soybeans, recent weather has slowed the US wheat harvest. Close to 11 percent of the winter wheat crop has been harvested versus an average completion rate of 25 percent.
2013 Harvest contract prices for June 19, 2013 at market close are as follows:
SWW at $252.37 per tonne ($6.87/bu.), SRW at $235.41 per tonne ($6.41/bu.), HRW at $248.60 per tonne ($6.77/bu.), and HRS at $265.76 per tonne ($7.23/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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