[Farmmarketnews] Wednesday Ontario Commodity Report and Grain Farmers of Ontario Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Nov 13 15:36:27 EST 2013
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, November 13
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.0468 down 0.0034
Chicago corn closed slightly lower.
DEC13 HI 4.34 1/2 DEC14 HI 4.74 3/4
LOW 4.28 3/4 LOW 4.68 1/4
CLOSE4.29 3/4 Down 2 1/2 CLOSE 4.69 1/4 Down 3 1/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +MAR14+MAR14+MAR14
CK Low -0.45 3.85 151.47 -0.60 4.09 161.11
CK High -0.45 3.85 151.47 -0.50 4.19 165.05
CK Avg -0.45 -0.65 3.85 151.47 -0.53 -0.76 4.16 163.74
Essex Cty -0.35 3.95 155.41 -0.55 4.14 163.08
Mdsx Low -0.45 3.85 151.47 -0.55 4.14 163.08
Mdsx High -0.30 4.00 157.37 -0.50 4.19 165.05
Mdsx Avg -0.38 -0.58 3.92 154.42 -0.53 -0.75 4.17 164.07
Hensall -0.45 3.85 151.47 -0.58 4.12 162.10
Bruce -0.45 3.85 151.47 -0.55 4.14 163.08
Putnam -0.30 4.00 157.37 -0.65 4.04 159.15
Burford -0.45 3.85 151.47 -0.50 4.19 165.05
Port Perry -0.50 3.80 149.50 -0.50 4.19 165.05
Norfolk -0.45 3.85 151.47 -0.50 4.19 165.05
Palmerston -0.45 3.85 151.47 -0.60 4.09 161.11
Varna -0.45 3.85 151.47 -0.60 4.09 161.11
Trenton -0.50 3.80 149.50 -0.60 4.09 161.11
Winchester N/A N/A
North Gower -0.45 3.85 151.47N/A
Huron FOB -0.45 3.85 151.47 -0.60 4.09 161.11
Kent FOB -0.45 3.85 151.47 -0.50 4.19 165.05
Lamb FOB -0.45 3.85 151.47 -0.50 4.19 165.05
Mdsx FOB -0.45 -0.40 -0.35N/A 3.85 151.47 -0.50 4.19 165.05
FOB SW Que -0.20 4.10 161.31N/A
Track -0.08 4.22 166.23N/A
PROCESSORS
Chat-Eth -0.55 -0.35 -0.30 -0.25 3.75 147.53N/A
Jhnstwn-Eth N/A -0.20 -0.30 -0.25 N/A
Aylmer-Eth -0.55 -0.35 -0.30 -0.25 3.75 147.53 N/A
Sarn-Eth -0.30 -0.20 -0.25 -0.25 4.00 157.37N/A
Cllngwd-Eth N/A N/A N/A N/A N/A*
London-Ing 0.00 -0.20 -0.25 -0.20 4.30 169.19N/A
Pt.Colb-Ing 0.05 -0.10 -0.20 -0.15 4.35 171.15N/A
Cardnl-Ing 0.00 -0.10 -0.20 -0.15 4.30 169.19N/A
W O Feed 0.03 -0.02 4.33 170.37
US Rep 0.25 0.20 4.55 179.03
Toledo El. -0.26 4.04 158.88 -0.38 4.32 169.89
TRANSFER
Sarnia N/A N/A
Pt. Stanley -0.45 3.85 151.47N/A
Hamilton -0.12 4.18164 1/2N/A
MID SD CRN -0.45 3.84 3/4
HI SD CRN -0.45 3.84 3/4
*Wet Bid
Bank of Canada Noon exchange rate was 1.0468 down 0.0034
Chicago soybeans closed slightly higher.
JAN14 HI 13.17 3/4 NOV14 HI 11.79 1/4
LOW 13.07 1/2 LOW 11.67 3/4
CLOSE13.15 Up 1/2 CLOSE 11.77 Up 1
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +JAN1+JAN1+MAR14
CK Low 0.29 13.44 493.84-0.30 11.47 421.45
CK High 0.30 13.45 494.20-0.20 11.57 425.12
CK Average 0.30 -0.3313.45 494.14-0.28-0.8411.49 422.25
Essex Cty 0.46 13.61 500.08-0.03 11.74 431.37
Mdsx Low 0.29 13.44 493.84-0.29 11.48 421.82
Mdsx High 0.30 13.45 494.20-0.25 11.52 423.29
Mdsx Average 0.30 -0.3313.45 494.02-0.27-0.8311.50 422.55
Hensall 0.30 13.45 494.20-0.23 11.55 424.21
Bruce 0.30 13.45 494.20-0.25 11.52 423.29
Putnam 0.30 13.45 494.20-0.25 11.52 423.29
Burford 0.32 13.47 494.94-0.26 11.51 422.92
Port Perry 0.29 13.44 493.84-0.29 11.48 421.82
Norfolk 0.30 13.45 494.20-0.25 11.52 423.29
Palmerston 0.30 13.45 494.20-0.20 11.57 425.12
Varna 0.30 13.45 494.20-0.20 11.57 425.12
Trenton 0.30 13.45 494.20-0.20 11.57 425.12
Winchester N/A N/A
North Gower 0.48 13.63 500.82 N/A
Huron FOB 0.40 13.55 497.88-0.15 11.62 426.96
Kent FOB 0.30 13.45 494.20-0.30 11.47 421.45
Lambton FOB 0.30 13.45 494.20-0.30 11.47 421.45
Middlesex FOB0.58 0.47 N/A N/A 13.73 504.49-0.15 11.62 426.96
PROCESSORS
Hamilton 0.75 0.80 0.65 N/A 13.90 510.740.08 11.85 435.41
Windsor 0.69 0.70 0.70 0.62 13.84 508.530.20 11.97 439.82
Winchester N/A N/A
TRANSFER
Hamilton 0.85 N/A N/A N/A 14.00 514.41 N/A
Pt. Stanley N/A N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC 1.24 14.39 528.74 N/A
Toledo El. 0.07 13.22 485.87-0.50 11.27 414.00
Bank of Canada Noon exchange rate was 1.0468 down 0.0034
Chicago wheat closed narrowly mixed.
DEC13 HI 6.49 JUL14 HI 6.63 3/4
LOW 6.43 1/4 LOW 6.59
CLOSE 6.45 1/2 Up 1/4 CLOSE 6.61 Down 1/2
Minni wheat closed slightly lower.
DEC13 HI 7.03 1/2 SEP14 HI 7.31
LOW 6.98 3/4 LOW 7.27 1/2
CLOSE 6.99 1/2 Down 1 3/4 CLOSE 7.27 3/4 Down 2 1/2
GFO Cash Wheat Prices - DEL Terminal
Current Crop 13 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.32 -0.22 -0.48 -0.61
CAD $/bu 6.13 6.24 5.98 6.38
CAD $/tonne 225.34 229.19 219.57 234.58
Direct MarkHarvest 2013 Harvest 2014
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 N/A -0.70 N/A
London -0.72 -0.14 -0.56 N/A -0.29 -0.29 -0.71 N/A
Hensall -0.25 N/A -0.55 N/A -0.20 N/A -0.70 N/A
Trenton N/A N/A N/A N/A N/A N/A -0.85 N/A
Winchester N/A N/A N/A N/A N/A N/A N/A N/A
Essex N/A N/A -0.62 N/A N/A N/A -0.68 N/A
Norwich -0.25 N/A -0.55 N/A -0.20 N/A -0.70 N/A
Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A
Kent Bridge -0.25 N/A -0.55 N/A -0.20 N/A -0.70 N/A
Chatham N/A -0.70 -0.60 N/A N/A N/A -0.70 N/A
Brigden N/A -0.70 -0.60 N/A N/A N/A -0.70 N/A
Palmerston N/A 0.04 -0.54 -0.54 N/A -0.27 -0.69 -0.63
Varna -0.25 0.15 -0.55 N/A -0.25 -0.30 -0.70 N/A
Mitchell -0.25 0.15 -0.55 N/A -0.20 -0.25 -0.70 N/A
Thornton N/A N/A N/A N/A N/A N/A N/A N/A
North Gower N/A N/A N/A -0.58 N/A N/A N/A N/A
TERMINAL
Sarnia N/A N/A N/A N/A N/A N/A N/A N/A
Hamilton N/A N/A -0.12 N/A N/A N/A -0.38 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 0.25N/A 0.94N/A 0.42N/A
Toledo El. 6.30US 6.59CA 6.48US 6.79CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 14 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.31 -0.11 -0.52 -0.65
CAD $/bu 6.30 6.50 6.09 6.63
CAD $/tonne 231.31 239.01 223.61 243.53
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
Bayport Wheat 290.00 - 310.00
Bayport Oats 290.00
Bayport Barley 270.00
FOB Hm Soymeal 562.52 - 572.44
DDG's FOB Srn & Aylm 240.00
--
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
Wednesday, November 13, 2013
Commodity Period Price Weekly Movement
Corn CBOT Dec. 4.29 ¾ ↑ 8 ½ cents
Soybeans CBOT Jan. 13.15 ↑ 60 cents
Wheat CBOT Dec. 6.45 ½ ↓ 7 ¾ cents
Wheat Minn. Dec. 6.99 ½ ↓ 12 ¾ cents
Wheat Kansas Dec. 7.02 ↓ 14 ½ cents
Canadian $ Dec. 0.9547 ↓ 42 points
CORN:
The USDA’s World Agricultural Supply and Demand Estimate Report was released on Friday, November 8, 2013. Record numbers for this year’s corn crop are still expected but some industry professionals disagree with the USDA numbers and expect the actual crop to surpass estimates given. Carryout is close to 1.9 billion bushels even with the increased demand versus the WASDE released in September.
Post-WASDE report, December futures gained roughly 15 cents since last Wednesday into Monday, November 11. They did settle a bit early in the week around the $4.30 per bushel range. Trading is expected to keep on the short range until the crop harvest is completed. When the 2013 crop begins moving into the markets, it is expected futures could once again decline. The harvest has been hampered by the wet weather and sits at 84 percent completed this week.
SOYBEANS:
After the WASDE report, January soybean futures gained about 60 cents per bushel since Wednesday, November 6. The gains pushed the futures back up over the $13 per bushel mark. The report indicates that the US carryout is still tight. Support for the futures also came from continued international demand, particularly from China.
The Crop Progress Report indicates that the harvest, not unlike corn, has slowed a bit to come in this week at 91 percent completed.
WHEAT:
This week’s Crop Progress Report indicated that the US winter wheat crop has improved in the condition ratings. The very poor to poor rating has improved one percent to come in at five percent this week. And the good to excellent rating has improved two percent to come in at 65 percent this week.
Winter wheat December futures lost about ten cents per bushel over the past week and steadily maintained a downward trend. The spring wheat December futures lost about 15 cents per bushel over the last week and had a similar pattern.
2013 November contract prices for November 13, 2013 at close are as follows:
SWW at $225.33 per tonne ($6.13/bu.), SRW at $219.56 per tonne ($5.98/bu.), HRW at $229.18 per tonne ($6.24/bu.), and HRS at $234.57 per tonne ($6.38/bu.)
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