[Farmmarketnews] Wednesday Ontario Commodity Report & Ahmed Chilmeran Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Mar 6 16:06:52 EST 2013
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, March 6
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.0314 up 0.0024
Chicago corn closed moderately lower to lower.
MAY13 HI 7.09 3/4 DEC13 HI 5.52 1/2
LOW 6.88 LOW 5.44
CLOSE6.88 1/2 Down 20 1/2 CLOSE 5.44 1/4 Down 7 3/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +MAY13+JUL13+JUL13
CK Low -0.40 6.49 255.30 -0.70 4.74 186.70
CK High -0.35 6.54 257.27 -0.65 4.79 188.67
CK Avg -0.37 -0.60 6.51 256.42 -0.66 -0.84 4.78 188.34
Essex Cty -0.40 6.49 255.30 -0.70 4.74 186.70
Mdsx Low -0.50 6.39 251.37 -0.65 4.79 188.67
Mdsx High -0.35 6.54 257.27 -0.65 4.79 188.67
Mdsx Avg -0.43 -0.66 6.46 254.32 -0.65 -0.83 4.79 188.67
Hensall -0.38 6.51 256.29 -0.65 4.79 188.67
Bruce -0.35 6.54 257.27 -0.65 4.79 188.67
Putnam -0.40 6.49 255.30 -0.65 4.79 188.67
Burford -0.35 6.54 257.27 -0.65 4.79 188.67
Port Perry -0.45 6.44 253.33 -0.70 4.74 186.70
Norfolk -0.38 6.51 256.09 -0.65 4.79 188.67
Palmerston -0.49 6.40 251.76 -0.65 4.79 188.67
Varna -0.40 6.49 255.30 -0.65 4.79 188.67
Trenton -0.45 6.44 253.33 -0.70 4.74 186.70
Winchester -0.35 6.54 257.27 -0.45 4.99 196.55
North Gower -0.69 6.20 243.89 -0.58 4.86 191.43
Huron FOB -0.25 6.64 261.21 -0.65 4.79 188.67
Kent FOB -0.38 6.51 256.09 -0.65 4.79 188.67
Lamb FOB -0.38 6.51 256.09 -0.65 4.79 188.67
Mdsx FOB -0.35 -0.35N/A N/A 6.54 257.27 -0.65 4.79 188.67
FOB SW Que -0.30 6.59 259.24 -0.35 5.09 200.48
Track -0.05 6.84 269.08N/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 -0.20 N/A
Sarn-Eth -0.30 -0.30 0.10 0.10 6.59 259.24N/A
Cllngwd-Eth N/A N/A N/A N/A N/A*
London-Ing N/A N/A -0.05 0.00 -0.50 4.94 194.58
Pt.Colb-Ing N/A N/A N/A 0.05 -0.45 4.99 196.55
Cardnl-Ing N/A N/A N/A N/A -0.45 4.99 196.55
W O Feed -0.05 -0.08 6.84 269.08
US Rep 0.50 0.47 7.39 290.73
Toledo El. 0.23 7.11 280.00 -0.34 5.10 200.83
TRANSFER
Sarnia N/A N/A
Pt. Stanley -0.40 6.49 255.30 -0.70 4.74186 5/7
Hamilton -0.32 6.57258 4/9 -0.44 5.00197
MID SD CRN -0.37 1/2 6.51
HI SD CRN -0.35 6.53 1/2
*Wet Bid
Bank of Canada Noon exchange rate was 1.0314 up 0.0024
Chicago soybeans closed narrowly mixed.
MAY13 HI 14.75 1/2 NOV13 HI 12.80
LOW 14.55 1/2 LOW 12.62 1/2
CLOSE14.66 Down 1/2 CLOSE 12.78 3/4 Up 3 1/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +MAY1+JUL1+JUL13
CK Low -0.05 14.61 536.83-0.45 12.34 453.33
CK High 0.05 14.71 540.50-0.40 12.39 455.16
CK Average 0.02 -0.4814.68 539.28-0.44-0.8712.35 453.82
Essex Cty 0.30 14.96 549.69-0.18 12.61 463.25
Mdsx Low 0.04 14.70 540.13-0.40 12.39 455.16
Mdsx High 0.05 14.71 540.50-0.40 12.39 455.16
Mdsx Average 0.05 -0.4514.71 540.32-0.40-0.8312.39 455.16
Hensall 0.08 14.74 541.42-0.35 12.44 457.00
Bruce 0.05 14.71 540.50-0.40 12.39 455.16
Putnam 0.00 14.66 538.66-0.45 12.34 453.33
Burford 0.04 14.70 540.13-0.40 12.39 455.16
Port Perry 0.01 14.67 539.03-0.43 12.36 454.06
Norfolk 0.10 14.76 542.34-0.38 12.41 455.90
Palmerston 0.00 14.66 538.66-0.35 12.44 457.00
Varna 0.10 14.76 542.34-0.30 12.49 458.84
Trenton -0.20 14.46 531.31-0.40 12.39 455.16
Winchester -0.20 14.46 531.31-0.20 12.59 462.51
North Gower -0.04 14.62 537.19-0.28 12.51 459.57
Huron FOB 0.20 14.86 546.01-0.25 12.54 460.67
Kent FOB 0.05 14.71 540.50-0.43 12.36 454.06
Lambton FOB 0.05 14.71 540.50-0.43 12.36 454.06
Middlesex FOB0.06 0.18 0.18 N/A 14.72 540.87-0.29 12.50 459.20
PROCESSORS
Hamilton 0.50 0.55 0.60 N/A 15.16 557.030.10 12.89 473.53
Windsor 0.53 0.53 0.53 0.53 15.19 558.140.05 12.84 471.70
Winchester N/A N/A
TRANSFER
Hamilton 0.50 N/A N/A N/A 15.16 557.030.10 12.89 473.53
Pt. Stanley N/A N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC 0.40 15.06 553.360.40 13.19 484.56
Toledo El. 0.04 14.70 540.18-0.39 12.39 455.43
Bank of Canada Noon exchange rate was 1.0314 up 0.0024
Chicago wheat closed lower.
MAY13 HI 7.08 JUL13 HI 7.10 1/2
LOW 6.81 LOW 6.86 1/4
CLOSE 6.83 3/4 Down 22 1/4 CLOSE 6.88 3/4 Down 20 3/4
Minni wheat closed moderately lower.
MAY13 HI 7.97 SEP13 HI 7.97
LOW 7.80 LOW 7.79 3/4
CLOSE 7.83 1/2 Down 12 1/4 CLOSE 7.83 Down 16
GFO Cash Wheat Prices - DEL Terminal
Current Crop 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.39 -0.18 -0.55 -0.72
CAD $/bu 6.45 6.65 6.29 7.12
CAD $/tonne 236.89 244.48 231.19 261.48
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 -0.65 N/A N/A -0.80 -0.90 N/A
London -0.56 -0.61 -0.66 N/A -0.56 -0.71 -0.92 N/A
Hensall -0.35 N/A -0.60 N/A -0.45 N/A -0.90 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 -0.49
Essex N/A N/A -0.71 N/A N/A N/A -0.94 N/A
Norwich -0.35 N/A -0.60 N/A -0.45 N/A -0.90 N/A
Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A
Kent Bridge -0.45 N/A -0.65 N/A -0.50 N/A -0.90 N/A
Chatham N/A -0.60 -0.65 N/A N/A -0.80 -1.10 N/A
Brigden N/A -0.60 -0.65 N/A N/A -0.80 -1.10 N/A
Palmerston N/A -0.36 -0.73 -0.52 N/A -0.67 -0.93 -0.68
Varna -0.35 -0.45 -0.60 N/A -0.45 -0.80 -0.90 N/A
Mitchell -0.35 -0.60 -0.60 N/A -0.45 -0.80 -0.90 N/A
Thornton N/A N/A N/A -1.11 N/A N/A N/A N/A
North Gower N/A N/A N/A -0.74 N/A N/A N/A -0.69
TERMINAL
Sarnia N/A N/A N/A N/A N/A N/A N/A N/A
Hamilton N/A N/A -0.06 N/A N/A N/A -0.63 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 0.33N/A 0.64N/A 0.02N/A
Toledo El. 6.61US 6.83CA 6.71US 6.93CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 13 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.23 -0.18 -0.70 -0.67
CAD $/bu 6.65 6.71 6.19 7.16
CAD $/tonne 244.48 246.38 227.39 263.19
(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 355.00
Bayport Barley 330.00
FOB Hm Soymeal 510.71 - 517.32
DDG's FOB Srn, Wndr, Aylm 285.00 - 295.00
Wednesday, March 6, 2013
Commodity Period Price Weekly Movement - Wednesday to Friday
Corn CBOT May 6.8825 ↓ 20.25 cents
Soybeans CBOT May 14.6600 ↑ 28.20 cents
Wheat CBOT May 6.8125 ↓ 36.50 cents
Wheat Minn. May 7.8000 ↓ 24.50 cents
Wheat Kansas May 7.3150 ↓ 38.00 cents
Canadian $ June 0.9677 ↓ 47.00 points
The TSX scored higher on Wednesday with gold shares leading the way finding support from a better than expected US private-sector hiring. The US private sector added 198,000 jobs in February, a report by payrolls processor showed. The loonie hit an eight-month low after comments by the Bank of Canada (BOC) suggested that the current low interest rate environment is likely to remain longer as higher unemployment rate numbers are expected in February. The unemployment report will be released on Friday by Statistics Canada. In turn, the loonie could remain under pressure if the unemployment rate edges over 7%. The BOC indicated in a revised statement it thinks the risk of a housing bubble has passed, and therefore forgoing the need for interest rate hikes in the near term. Statistics Canada also released January livestock estimates and farm product prices. These reports can be found at the Statistics Canada website.
Corn
Corn futures were trading lower in Chicago on a better weather forecast over the next five days and from weakness in the wheat market. Showers are expected over the north central plains and eastern Corn Belt boosting soil conditions. Ethanol production for the week ending March 1st averaged 805,000 bpd, down 0.86% over last week and down 11.2% over last year according to the CME.
Soybeans
Soybean futures were trading higher in Chicago finding support from speculation that the South American crop, particularly in Brazil could fall ahead of Friday's USDA report. The market is also lending support to prices through the ongoing delays in key export terminals in Brazil. According to the CME, some traders suggest March exports can be significantly large for Brazil; however caution pre-empts in this instance given the uncertainty in the weather and potential for union complications.
WHEAT
Wheat futures fell in Chicago on news of ample global supplies and with India considering boosting exports of the crop. India, the world’s second-largest wheat grower, may approve more exports from state reserves according to Press Trust of India. According to the Ministry of Agricultural Policy and Food of Ukraine, an agreement to supply an additional 300,000 tonnes of wheat to the export market by the end of the marketing year has been approved. The ministry is also considering approving another 200,000 tonnes for the foreign market later this month.
Contract prices for March 6, as of 3pm, are as follows:
SWW at $235.92 per tonne ($6.42 /bu), HRW at $243.51 per tonne ($6.63/bu.),
HRS at $260.13 per tonne ($7.08/bu), and SRW at $230.22 per tonne ($6.27/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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