[Farmmarketnews] Wednesday Ontario Commodity Report and Grain Farmers of Ontario Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Nov 20 15:35:59 EST 2013
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, November 20
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.0445 down 0.0021
Chicago corn closed slightly lower.
DEC13 HI 4.19 DEC14 HI 4.56 1/4
LOW 4.15 LOW 4.52 1/2
CLOSE4.17 Down 3/4 CLOSE 4.53 3/4 Down 1 1/2
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +MAR14+MAR14+MAR14
CK Low -0.35 3.82 150.39 -0.50 4.04 158.95
CK High -0.25 3.92 154.32 -0.40 4.14 162.89
CK Avg -0.32 -0.51 3.85 151.70 -0.44 -0.65 4.10 161.25
Essex Cty -0.35 3.82 150.39 -0.50 4.04 158.95
Mdsx Low -0.25 3.92 154.32 -0.45 4.09 160.92
Mdsx High -0.25 3.92 154.32 -0.40 4.14 162.89
Mdsx Avg -0.25 -0.44 3.92 154.32 -0.43 -0.63 4.11 161.90
Hensall -0.33 3.85 151.37 -0.48 4.06 159.93
Bruce -0.40 3.77 148.42 -0.45 4.09 160.92
Putnam -0.35 3.82 150.39 -0.65 3.89 153.04
Burford -0.25 3.92 154.32 -0.40 4.14 162.89
Port Perry -0.30 3.87 152.36 -0.40 4.14 162.89
Norfolk -0.35 3.82 150.39 -0.45 4.09 160.92
Palmerston -0.30 3.87 152.36 -0.60 3.94 155.01
Varna -0.30 3.87 152.36 -0.50 4.04 158.95
Trenton -0.45 3.72 146.45 -0.60 3.94 155.01
Winchester N/A N/A
North Gower -0.40 3.77 148.42N/A
Huron FOB -0.30 3.87 152.36 -0.50 4.04 158.95
Kent FOB -0.35 3.82 150.39 -0.45 4.09 160.92
Lamb FOB -0.35 3.82 150.39 -0.45 4.09 160.92
Mdsx FOB -0.25 -0.20 -0.20N/A 3.92 154.32 -0.40 4.14 162.89
FOB SW Que -0.20 3.97 156.29N/A
Track 0.00 4.17 164.17N/A
PROCESSORS
Chat-Eth -0.55 -0.35 -0.30 -0.25 3.62 142.51N/A
Jhnstwn-Eth N/A -0.20 -0.30 -0.25 N/A
Aylmer-Eth -0.55 -0.35 -0.30 -0.25 3.62 142.51 N/A
Sarn-Eth -0.20 -0.10 -0.20 -0.20 3.97 156.29N/A
Cllngwd-Eth N/A N/A N/A N/A N/A*
London-Ing -0.05 -0.25 -0.10 -0.05 4.12 162.20N/A
Pt.Colb-Ing -0.05 -0.25 -0.05 0.00 4.12 162.20N/A
Cardnl-Ing -0.05 0.10 -0.05 0.00 4.12 162.20N/A
W O Feed 0.13 0.08 4.30 169.28
US Rep 0.30 0.25 4.47 175.98
Toledo El. -0.21 3.96 155.93 -0.38 4.16 163.81
TRANSFER
Sarnia N/A N/A
Pt. Stanley -0.35 3.82 150.39N/A
Hamilton -0.10 4.07160 2/9N/A
MID SD CRN -0.30 3.87
HI SD CRN -0.25 3.92
*Wet Bid
Bank of Canada Noon exchange rate was 1.0445 down 0.0021
Chicago soybeans closed narrowly mixed.
JAN14 HI 12.83 3/4 NOV14 HI 11.56 1/4
LOW 12.70 1/4 LOW 11.48 3/4
CLOSE12.73 3/4 Down 2 1/2 CLOSE 11.53 1/4 Up 3 3/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +JAN1+JAN1+MAR14
CK Low 0.20 12.94 475.37-0.35 11.18 410.89
CK High 0.23 12.97 476.47-0.25 11.28 414.56
CK Average 0.21 -0.3812.94 475.56-0.33-0.8611.21 411.81
Essex Cty 0.41 13.15 483.09-0.07 11.46 421.17
Mdsx Low 0.20 12.94 475.37-0.30 11.23 412.72
Mdsx High 0.21 12.95 475.74-0.29 11.24 413.09
Mdsx Average 0.21 -0.3812.94 475.56-0.30-0.8311.24 412.91
Hensall 0.25 12.99 477.21-0.28 11.26 413.64
Bruce 0.20 12.94 475.37-0.35 11.18 410.89
Putnam 0.30 13.04 479.05-0.25 11.28 414.56
Burford 0.24 12.98 476.84-0.26 11.27 414.19
Port Perry 0.21 12.95 475.74-0.29 11.24 413.09
Norfolk 0.20 12.94 475.37-0.30 11.23 412.72
Palmerston 0.25 12.99 477.21-0.25 11.28 414.56
Varna 0.25 12.99 477.21-0.30 11.23 412.72
Trenton 0.20 12.94 475.37-0.30 11.23 412.72
Winchester 0.20 12.94 475.37-0.15 11.38 418.24
North Gower 0.48 13.22 485.66 N/A
Huron FOB 0.35 13.09 480.88-0.30 11.23 412.72
Kent FOB 0.20 12.94 475.37-0.35 11.18 410.89
Lambton FOB 0.20 12.94 475.37-0.35 11.18 410.89
Middlesex FOB0.45 0.48 N/A N/A 13.19 484.56-0.21 11.32 416.03
PROCESSORS
Hamilton 0.70 0.75 0.60 N/A 13.44 493.740.15 11.68 429.26
Windsor 0.64 0.65 0.66 0.57 13.38 491.540.16 11.69 429.63
Winchester N/A N/A
TRANSFER
Hamilton 0.83 N/A N/A N/A 13.57 498.52 N/A
Pt. Stanley N/A N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC 1.20 13.94 512.12 N/A
Toledo El. 0.07 12.81 470.71-0.50 11.03 405.30
Bank of Canada Noon exchange rate was 1.0445 down 0.0021
Chicago wheat closed slightly lower.
DEC13 HI 6.54 3/4 JUL14 HI 6.61 3/4
LOW 6.46 1/4 LOW 6.53 1/4
CLOSE 6.47 1/4 Down 3 CLOSE 6.54 3/4 Down 4 3/4
Minni wheat closed slightly lower to steady.
DEC13 HI 7.00 SEP14 HI 7.25
LOW 6.95 1/2 LOW 7.23 1/4
CLOSE 6.97 3/4 Unchanged CLOSE 7.23 1/2 Down 3/4
GFO Cash Wheat Prices - DEL Terminal
Current Crop 13 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.33 -0.22 -0.49 -0.62
CAD $/bu 6.14 6.25 5.99 6.36
CAD $/tonne 225.73 229.58 219.97 233.61
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 -0.75 -0.12 -0.59 N/A -0.32 -0.32 0.69 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 -0.64 N/A N/A N/A -0.69 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 0.02 -0.56 -0.57 N/A -0.29 -0.71 -0.66
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 -0.44 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 -0.13 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 0.93N/A 0.41N/A
Toledo El. 6.31US 6.60CA 6.42US 6.71CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 14 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.33 -0.12 -0.53 -0.66
CAD $/bu 6.22 6.43 6.01 6.57
CAD $/tonne 228.62 236.30 220.93 241.59
(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 541.24 - 551.17
DDG's FOB Srn & Aylm 240.00
Wednesday, November 20, 2013
Commodity Period Price Weekly Movement
Corn CBOT Dec. 4.17 ↓ 12 ¾ cents
Soybeans CBOT Jan. 12.73 ¾ ↓ 41 ¼ cents
Wheat CBOT Dec. 6.47 ¼ ↑ 1 ¾ cents
Wheat Minn. Dec. 6.97 ¾ ↓ 1 ¾ cents
Wheat Kansas Dec. 6.95 ½ ↓ 6 ½ cents
Canadian $ Dec. 0.9565 ↑ 18 points
CORN:
The USDA crop progress report has pegged the harvest at 91 percent completion this week, up seven percent from last week. Ontario harvest is still hampered. Though the majority of corn has been harvested, there are still areas with significant acreage yet to be combined.
Overall, the downtrend keeps a hold on the market. A slight bounce for the corn market on Tuesday, November 19 was short. There is pressure on the market from the Environmental Protection Agency proposed change in the ethanol mandate in the US.
SOYBEANS:
The US soybean harvest is 95 percent completed and up four percent from last week, according the USDA Crop Progress Report. This week has been nothing short of interesting when it comes to following the soybean markets. Markets continue to move lower despite factors that some feel should be supporting the futures.
Friday saw the release of the US Export Report from the USDA. Soybeans fell from above $13.10 per bushel to the low $12.80 per bushel range on Friday in part due to the report, but also due to alleged favourable weather in South America and softening cash markets. The futures have continued down into the $12.70 per bushel range by Wednesday, November 20, 2013.
As previously reported, had all the conditions been favourable for Brazil, there was potential for the nation to lead globally in soybean production. While the weather conditions are favourable, there are other factors that have halted efforts. The Government of Brazil declared a state of emergency in parts of the country where a caterpillar infestation is threatening the crops. Industry analysts are keeping an eye to see how the issue is dealt with, and how the outcome will resonate in the marketplace, if at all.
WHEAT:
The US winter wheat crop condition ratings fell again this week by two percentage points in their respective categories. In the very poor to poor rating, the number was increased to seven percent. The good to excellent rating fell to 63 percent this week.
In global production, Australia could be a real developing story. Rains have plagued the west and frost has affected the east; both are affecting the quality of the crop and reduced the harvest. Although known for having desirable high-protein wheat, the poor harvest may turn international purchasing away from the Australian crop this year to other markets – potentially in Canada and the United States.
Wheat markets continue to try and grind lower. In part, they are caught on the tails of the corn markets. While there was a bit of support from several tenders, including a second by Egypt in as many weeks, the overall trend remains down.
2013 November contract prices for November 20, 2013 at close are as follows:
SWW at $225.64 per tonne ($6.14/bu.), SRW at $219.87 per tonne ($5.98/bu.), HRW at $229.48 per tonne ($6.25/bu.), and HRS at $233.51 per tonne ($6.36/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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