[Farmmarketnews] Wednesday Ontario Commodity Report & Ahmed Chilmeran Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Mar 13 16:15:05 EDT 2013
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, March 13
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.0273 up 0.0019
Chicago corn closed slightly lower.
MAY13 HI 7.17 3/4 DEC13 HI 5.58 3/4
LOW 7.00 1/2 LOW 5.48
CLOSE7.10 1/4 Down 4 CLOSE 5.55 Down 2 1/4
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 6.70 263.87 -0.70 4.85 190.94
CK High -0.35 6.75 265.83 -0.65 4.90 192.90
CK Avg -0.39 -0.60 6.71 264.19 -0.68 -0.85 4.87 191.59
Essex Cty -0.35 6.75 265.83 -0.70 4.85 190.94
Mdsx Low -0.40 6.70 263.87 -0.70 4.85 190.94
Mdsx High -0.40 6.70 263.87 -0.70 4.85 190.94
Mdsx Avg -0.40 -0.61 6.70 263.87 -0.70 -0.87 4.85 190.94
Hensall -0.40 6.70 263.87 -0.70 4.85 190.94
Bruce -0.40 6.70 263.87 -0.70 4.85 190.94
Putnam -0.40 6.70 263.87 -0.70 4.85 190.94
Burford -0.40 6.70 263.87 -0.70 4.85 190.94
Port Perry -0.50 6.60 259.93 -0.75 4.80 188.97
Norfolk -0.40 6.70 263.87 -0.70 4.85 190.94
Palmerston -0.49 6.61 260.32 -0.65 4.90 192.90
Varna -0.40 6.70 263.87 -0.70 4.85 190.94
Trenton -0.40 6.70 263.87 -0.65 4.90 192.90
Winchester -0.35 6.75 265.83 -0.50 5.05 198.81
North Gower -0.84 6.26 246.54 -0.65 4.90 192.90
Huron FOB -0.25 6.85 269.77 -0.70 4.85 190.94
Kent FOB -0.40 6.70 263.87 -0.70 4.85 190.94
Lamb FOB -0.40 6.70 263.87 -0.70 4.85 190.94
Mdsx FOB -0.40 -0.35N/A N/A 6.70 263.87 -0.70 4.85 190.94
FOB SW Que 0.40 7.50 295.36 -0.35 5.20 204.71
Track -0.08 7.03 276.66N/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 6.80 267.80N/A
Cllngwd-Eth N/A N/A N/A N/A N/A*
London-Ing N/A N/A N/A N/A -0.50 5.05 198.81
Pt.Colb-Ing N/A N/A N/A N/A -0.45 5.10 200.78
Cardnl-Ing N/A N/A N/A N/A -0.45 5.10 200.78
W O Feed -0.08 -0.11 7.02 276.46
US Rep 0.60 0.57 7.70 303.23
Toledo El. 0.23 7.33 288.53 -0.34 5.21 205.11
TRANSFER
Sarnia N/A N/A
Pt. Stanley -0.40 6.70 263.87 -0.63 4.92193 2/3
Hamilton -0.38 6.72264 2/3 -0.44 5.11201 1/6
MID SD CRN -0.37 1/2 6.72 3/4
HI SD CRN -0.35 6.75 1/4
*Wet Bid
Bank of Canada Noon exchange rate was 1.0273 up 0.0019
Chicago soybeans closed slightly to moderately lower.
MAY13 HI 14.68 3/4 NOV13 HI 12.71 1/2
LOW 14.40 1/4 LOW 12.56
CLOSE14.47 Down 21 3/4 CLOSE 12.62 1/2 Down 7
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +MAY1+JUL1+JUL13
CK Low 0.05 14.52 533.52-0.46 12.17 446.99
CK High 0.10 14.57 535.36-0.40 12.23 449.19
CK Average 0.09 -0.3514.56 534.87-0.44-0.8112.19 447.91
Essex Cty 0.18 14.65 538.30-0.24 12.39 455.07
Mdsx Low 0.06 14.53 533.89-0.46 12.17 446.99
Mdsx High 0.10 14.57 535.36-0.40 12.23 449.19
Mdsx Average 0.08 -0.3514.55 534.62-0.43-0.8112.20 448.09
Hensall 0.10 14.57 535.36-0.40 12.23 449.19
Bruce 0.10 14.57 535.36-0.40 12.23 449.19
Putnam 0.10 14.57 535.36-0.45 12.18 447.35
Burford 0.06 14.53 533.89-0.46 12.17 446.99
Port Perry 0.08 14.55 534.62-0.44 12.19 447.72
Norfolk 0.15 14.62 537.19-0.41 12.22 448.82
Palmerston 0.05 14.52 533.52-0.40 12.23 449.19
Varna 0.10 14.57 535.36-0.40 12.23 449.19
Trenton -0.20 14.27 524.33-0.40 12.23 449.19
Winchester -0.23 14.24 523.23-0.28 12.35 453.60
North Gower -0.14 14.33 526.54-0.28 12.35 453.60
Huron FOB 0.20 14.67 539.03-0.35 12.28 451.03
Kent FOB 0.10 14.57 535.36-0.40 12.23 449.19
Lambton FOB 0.10 14.57 535.36-0.40 12.23 449.19
Middlesex FOB0.01 0.11 0.11 N/A 14.48 532.05-0.30 12.33 452.87
PROCESSORS
Hamilton 0.45 0.50 0.55 N/A 14.92 548.220.05 12.68 465.73
Windsor 0.41 0.41 0.41 0.67 14.88 546.75-0.01 12.62 463.52
Winchester N/A N/A
TRANSFER
Hamilton 0.43 N/A N/A N/A 14.90 547.480.00 12.63 463.89
Pt. Stanley N/A N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC 0.30 14.77 542.700.35 12.98 476.75
Toledo El. 0.04 14.51 533.20-0.39 12.23 449.51
Bank of Canada Noon exchange rate was 1.0273 up 0.0019
Chicago wheat closed slightly higher.
MAY13 HI 7.11 1/4 JUL13 HI 7.09 1/2
LOW 6.97 LOW 6.97 1/4
CLOSE 7.10 Up 6 1/2 CLOSE 7.08 1/4 Up 4 1/2
Minni wheat closed slightly higher.
MAY13 HI 7.97 1/4 SEP13 HI 7.95 3/4
LOW 7.85 LOW 7.82 1/2
CLOSE 7.95 1/2 Up 4 CLOSE 7.94 Up 5 1/2
GFO Cash Wheat Prices - DEL Terminal
Current Crop 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.41 -0.20 -0.56 -0.74
CAD $/bu 6.69 6.90 6.54 7.21
CAD $/tonne 245.99 253.56 240.32 265.10
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 -0.55 N/A N/A -0.80 -0.85 N/A
London -0.46 -0.57 -0.62 N/A -0.51 -0.72 -0.87 N/A
Hensall -0.35 N/A -0.50 N/A -0.40 N/A -0.85 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 -0.72 N/A N/A N/A -0.91 N/A
Norwich -0.35 N/A -0.50 N/A -0.40 N/A -0.85 N/A
Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A
Kent Bridge -0.40 N/A -0.60 N/A -0.45 N/A -0.85 N/A
Chatham N/A -0.55 -0.60 N/A N/A -0.80 -0.85 N/A
Brigden N/A -0.55 -0.60 N/A N/A -0.80 -0.85 N/A
Palmerston N/A -0.38 -0.74 -0.54 N/A -0.69 -0.94 -0.69
Varna -0.35 -0.45 -0.50 N/A -0.40 -0.75 -0.85 N/A
Mitchell -0.35 -0.55 -0.50 N/A -0.40 -0.80 -0.85 N/A
Thornton N/A N/A N/A -0.90 N/A N/A N/A N/A
North Gower N/A N/A N/A -0.75 N/A N/A N/A -0.70
TERMINAL
Sarnia N/A N/A N/A N/A N/A N/A N/A N/A
Hamilton N/A N/A -0.07 N/A N/A N/A -0.65 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 0.32N/A 0.62N/A 0.01N/A
Toledo El. 6.92US 7.13CA 6.95US 7.16CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 13 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.25 -0.20 -0.71 -0.69
CAD $/bu 6.83 6.88 6.37 7.25
CAD $/tonne 251.01 252.90 233.98 266.43
(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 355.00
Bayport Barley 320.00
FOB Hm Soymeal 505.86 - 511.37
DDG's FOB Srn, Wndr, Aylm 290.00 - 310.00
Wednesday March 13, 2013
Commodity Period Price Weekly Movement - Wednesday to Friday
Corn CBOT May 7.4125 ↑ 46.25 cents
Soybeans CBOT May 14.4700 ↓ 31.00 cents
Wheat CBOT May 7.1000 ↑ 14.50 cents
Wheat Minn. May 7.9550 ↑ 3.00 cents
Wheat Kansas May 7.3775 ↑ 5.75 cents
Canadian $ June 0.9712 ↑ 0.00 points
The TSX and Canadian dollar were lower Wednesday despite positive US retail sales. Energy and mining were the main drags as investor attention shifts away from commodities and towards the European Union (EU) debt crisis again. Italy’s borrowing costs rose following the country’s first bond auction since the government’s credit rating slash last week. Italian yield on a two-year bond climbed to 2.48%, from 2.30% in mid-February. Some of Canada’s biggest business heads including the Canadian Chamber of Commerce, Canadian Council of Chief Executives, the Canadian Federation of Independent Business, the Canadian Manufacturers and Exporters, the Canada-Europe Roundtable for Business and the Canadian Association of Importers and Exporters have shown support in a formal letter to the federal government amid the ongoing trade negotiations with the EU. This move comes at a time of the Transatlantic Trade and Investment Partnership negotiations, the US’ biggest trade liberalization talks with Europe post WW – II.
Corn
Corn futures were lower on profit taking as the US dollar posts another high. Significantly lower soybean trade numbers also put pressure on corn futures. Ethanol production for the week ending March 8 averaged 797,000 bpd according the CME, a 1% slide relative to last week and about 10.7% over last years.
Soybeans
Soybean futures were trading lower at midday following reports that China’s inventories are being replenished with the Brazilian crop with vessels making their way to China’s ports according to the CME. This, in turn, may have lead the market to believe North American export sales are being substituted by the South American crop. Meanwhile, talks of Brazil eliminating a tax credit for domestic soy oil may put a ceiling price on the commodity and reduce crush margins. Central and southern parts of Brazil will see good crop conditions over next week, while below normal rainfall will likely be the case in Argentina according to the CME.
WHEAT
Wheat futures were trading slightly lower feeling pressure from Corn. Australian wheat is finding its way to the Middle East market as supply from the Black Sea region has dried up, which could put the region’s stocks down to a four-year low by the end of September according to NASDAQ. Ukraine's grains output in the next marketing year that begins July 1 is estimated to rise by 9 million tonnes to 55 million tonnes, recovering from last year’s drought.
Contract prices for March 13, as of 4pm, are as follows:
SWW at $245.93 per tonne ($6.69 /bu), HRW at $253.49 per tonne ($6.90/bu.),
HRS at $265.03 per tonne ($7.21/bu), and SRW at $240.25 per tonne ($6.54/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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