[Farmmarketnews] Wednesday Ontario Commodity Report and Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed May 15 15:44:45 EDT 2013
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, May 15
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.0173 up 0.0025
Chicago corn closed slightly lower.
JUL13 HI 6.59 3/4 DEC13 HI 5.38 1/2
LOW 6.45 LOW 5.30 3/4
CLOSE6.50 3/4 Down 1 3/4 CLOSE 5.31 3/4 Down 6 1/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +JUL13+SEP13+SEP13
CK Low -0.45 6.06 238.47 -0.80 4.52 177.85
CK High -0.30 6.21 244.38 -0.70 4.62 181.78
CK Avg -0.43 -0.54 6.08 239.46 -0.78 -0.88 4.53 178.50
Essex Cty -0.35 6.16 242.41 -0.75 4.57 179.81
Mdsx Low -0.45 6.06 238.47 -0.80 4.52 177.85
Mdsx High -0.45 6.06 238.47 -0.80 4.52 177.85
Mdsx Avg -0.45 -0.57 6.06 238.47 -0.80 -0.90 4.52 177.85
Hensall -0.45 6.06 238.47 -0.78 4.54 178.83
Bruce -0.45 6.06 238.47 -0.80 4.52 177.85
Putnam N/A -0.70 4.62 181.78
Burford -0.50 6.01 236.50 -0.80 4.52 177.85
Port Perry -0.45 6.06 238.47 -0.80 4.52 177.85
Norfolk -0.50 6.01 236.50 -0.80 4.52 177.85
Palmerston -0.45 6.06 238.47 -0.78 4.54 178.63
Varna -0.45 6.06 238.47 -0.75 4.57 179.81
Trenton -0.40 6.11 240.44 -0.70 4.62 181.78
Winchester -0.35 6.16 242.41 -0.50 4.82 189.66
North Gower -0.74 5.77 227.06 -0.45 4.87 191.63
Huron FOB -0.35 6.16 242.41 -0.70 4.62 181.78
Kent FOB -0.45 6.06 238.47 -0.80 4.52 177.85
Lamb FOB -0.45 6.06 238.47 -0.80 4.52 177.85
Mdsx FOB -0.45 -0.45N/A N/A 6.06 238.47 -0.80 4.52 177.85
FOB SW Que -0.05 6.46 254.22 -0.45 4.87 191.63
Track -0.05 6.46 254.22N/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 -0.25 0.50 0.55 -0.55 4.77 187.69
Sarn-Eth N/A -0.30 0.60 0.75 N/A
Cllngwd-Eth N/A N/A N/A N/A N/A*
London-Ing N/A N/A N/A 0.80 -0.50 4.82 189.66
Pt.Colb-Ing N/A N/A 0.80 0.85 -0.45 4.87 191.63
Cardnl-Ing N/A N/A N/A 0.85 -0.45 4.87 191.63
W O Feed -0.01 -0.03 6.50 255.80
US Rep 0.50 0.48 7.01 275.87
Toledo El. 0.40 6.90 271.82 -0.34 4.98 196.11
TRANSFER
Sarnia N/A N/A
Pt. Stanley -0.45 6.06 238.47 -0.80 4.52177 5/6
Hamilton -0.19 6.32248 5/7 -0.50 4.82189 2/3
MID SD CRN -0.75 4.56 3/4
HI SD CRN -0.70 4.61 3/4
*Wet Bid
Bank of Canada Noon exchange rate was 1.0173 up 0.0025
Chicago soybeans closed slightly lower.
JUL13 HI 14.22 3/4 NOV13 HI 12.21
LOW 14.02 1/4 LOW 12.05 3/4
CLOSE14.12 3/4 Down 2 CLOSE 12.09 3/4 Down 4 1/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +JUL1+SEP1+JUL13
CK Low 0.60 14.73 541.14-0.60 11.50 422.46
CK High 0.75 14.88 546.65-0.55 11.55 424.30
CK Average 0.71 0.45 14.83 545.00-0.57-0.8011.52 423.44
Essex Cty 0.85 14.98 550.33-0.43 11.67 428.71
Mdsx Low 0.62 14.75 541.88-0.59 11.51 422.83
Mdsx High 0.75 14.88 546.65-0.50 11.60 426.14
Mdsx Average 0.69 0.43 14.81 544.27-0.55-0.7711.55 424.48
Hensall 0.75 14.88 546.65-0.53 11.57 425.22
Bruce 0.75 14.88 546.65-0.50 11.60 426.14
Putnam N/A -0.50 11.60 426.14
Burford 0.62 14.75 541.88-0.59 11.51 422.83
Port Perry 0.58 14.71 540.41-0.60 11.50 422.46
Norfolk 0.75 14.88 546.65-0.50 11.60 426.14
Palmerston 0.65 14.78 542.98-0.56 11.54 423.93
Varna 0.65 14.78 542.98-0.55 11.55 424.30
Trenton 0.50 14.63 537.47-0.70 11.40 418.79
Winchester 0.47 14.60 536.37-0.47 11.63 427.24
North Gower 0.64 14.77 542.61-0.43 11.67 428.71
Huron FOB 0.87 15.00 551.06-0.45 11.65 427.97
Kent FOB 0.75 14.88 546.65-0.55 11.55 424.30
Lambton FOB 0.75 14.88 546.65-0.55 11.55 424.30
Middlesex FOB0.81 0.85 0.85 N/A 14.94 548.86-0.47 11.63 427.24
PROCESSORS
Hamilton 1.15 1.20 N/A N/A 15.28 561.35-0.10 12.00 440.83
Windsor 1.08 1.06 1.06 N/A 15.21 558.78-0.20 11.90 437.16
Winchester N/A N/A
TRANSFER
Hamilton 1.11 N/A N/A N/A 15.24 559.88-0.11 11.99 440.47
Pt. Stanley N/A N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC N/A 0.34 12.44 457.00
Toledo El. 0.58 14.71 540.42-0.39 11.71 430.29
Bank of Canada Noon exchange rate was 1.0173 up 0.0025
Chicago wheat closed moderately lower.
JUL13 HI 7.11 1/4 JUL13 HI 7.11 1/4
LOW 6.92 1/2 LOW 6.92 1/2
CLOSE 6.93 3/4 Down 17 CLOSE 6.93 3/4 Down 17
Minni wheat closed slightly lower.
JUL13 HI 8.11 1/4 SEP13 HI 8.07
LOW 8.02 3/4 LOW 7.98
CLOSE 8.03 3/4 Down 7 1/2 CLOSE 7.98 1/2 Down 8
GFO Cash Wheat Prices - DEL Terminal
Current Crop 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.64 -0.53 -0.64 -0.83
CAD $/bu 6.30 6.40 6.30 7.21
CAD $/tonne 231.52 235.26 231.52 264.82
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 -1.00 -1.10 N/A
London -0.59 -0.64 -0.59 N/A -0.64 -0.94 -1.05 N/A
Hensall -0.55 N/A -0.65 N/A -0.65 N/A -1.10 N/A
Trenton N/A N/A N/A N/A N/A N/A -1.15 N/A
Winchester N/A N/A N/A N/A N/A N/A N/A -0.88
Essex N/A N/A -0.68 N/A N/A N/A -1.03 N/A
Norwich -0.55 N/A -0.65 N/A -0.65 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 -0.55 N/A -0.70 N/A -0.65 N/A -1.10 N/A
Chatham N/A -0.57 -0.62 N/A N/A -0.99 -1.04 N/A
Brigden N/A -0.57 -0.62 N/A N/A -0.99 -1.04 N/A
Palmerston N/A -0.48 -0.60 -0.49 N/A -0.74 -1.09 -0.74
Varna -0.50 -0.60 -0.60 N/A -0.65 -0.95 -1.05 N/A
Mitchell -0.55 -0.65 -0.65 N/A -0.65 -0.95 -1.10 N/A
Thornton N/A N/A N/A -1.21 N/A N/A N/A N/A
North Gower N/A N/A N/A -0.83 N/A N/A N/A -0.77
TERMINAL
Sarnia N/A N/A N/A N/A N/A N/A N/A N/A
Hamilton N/A N/A -0.14 N/A N/A N/A -0.70 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 0.08N/A 0.43N/A 0.03N/A
Toledo El. 6.81US 6.93CA 6.81US 6.93CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 13 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.28 -0.28 -0.74 -0.77
CAD $/bu 6.66 6.66 6.20 7.21
CAD $/tonne 244.62 244.62 227.78 265.10
(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 335.00
Bayport Barley 310.00
FOB Hm Soymeal 516.44 - 528.57
DDG's FOB Srn, Wndr, Aylm 255.00
Wednesday May 15, 2013
Commodity Period Price Weekly Movement
Corn CBOT July 6.50 ¾ ↑ 17 ¾ cents
Soybeans CBOT July 14.12 ¾ ↑ 22 cents
Wheat CBOT July 6.93 ¾ ↓ 12 ¼ cents
Wheat Minn. July 8.03 ¾ ↓ 12 ½ cents
Wheat Kansas July 7.51 ¾ ↓ 20 cents
Canadian $ June 0.9824 ↓ 140 points
CORN
The planting pace of corn in the US is at its slowest for this point in the year dating back to the 1980’s. The cold and wet start to spring has delayed planting such that recent data shows the US farmer has planted 28 percent of the intended corn crop. This is up 12 percent from last week, but well off the five year average of 65 percent complete.
The concern is that this slow pace could negatively impact yield potential due to an increased risk that plants will pollinate during peak summer heat. Plants that devote energy to keeping cool cannot use this energy for grain fill. That being said, we really do not know what the weather will be this summer.
SOYBEANS
The pace for soybean planting in the US is also progressing slowly at six percent of complete, which is up from two percent a week ago but well below the five-year average of 24 percent complete.
Soybeans deliveries from Brazil may be disrupted as port workers plan a strike. Workers in Brazil’s ports plan a stoppage to protest a government proposal to change port regulations to lure investments
WHEAT
The National Agricultural Statistics Service May 6 Crop Progress report indicated that 32 percent of the winter wheat crop is rated good to excellent and 39 percent was rated poor to very poor. Soft red wheat producing states are generally in good condition this year compared to the winter wheat crop in the Plains with average percentages of 68 percent rated good to excellent and only six percent poor to very poor. The condition of the winter wheat crop is also good in the Pacific Northwest (PNW), where the ratings are 68 percent good to excellent and only six percent poor to very poor.
Spring wheat planting has advanced to 43 percent completed from 23percent a week earlier, but remained behind the five-year average of 63%. Emergence was reported at 10 percent.
2013 Harvest contract prices for May 15, 2013 at market close are as follows:
SWW at $ 244.51 per tonne ($ 6.65 /bu.), SRW at $ 227.68 per tonne ($ 6.20 /bu.), HRW at $ 244.51 per tonne ($ 6.65 /bu.), and HRS at $ 264.99 per tonne ($ 7.21 /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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