[Farmmarketnews] Wednesday Ontario Commodity Report & Ontario Grain Farmers Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Sep 4 15:25:00 EDT 2013
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, September 4
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.0482 down 0.0051
Chicago corn closed slightly lower.
DEC13 HI 4.75 1/4 DEC13 HI 4.75 1/4
LOW 4.66 1/4 LOW 4.66 1/4
CLOSE4.69 1/2 Down 5 3/4 CLOSE 4.69 1/2 Down 5 3/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +DEC13+DEC13+MAR14
CK Low 1.15 5.85 230.11 -0.70 4.00 157.28
CK High 1.20 5.90 232.08 -0.65 4.05 159.24
CK Avg 1.18 0.94 5.87 231.09 -0.66 -0.89 4.04 158.92
Essex Cty 1.20 5.90 232.08 -0.70 4.00 157.28
Mdsx Low 1.15 5.85 230.11 -0.65 4.05 159.24
Mdsx High 1.15 5.85 230.11 -0.65 4.05 159.24
Mdsx Avg 1.15 0.92 5.85 230.11 -0.65 -0.88 4.05 159.24
Hensall 1.15 5.85 230.11 -0.65 4.05 159.24
Bruce 1.15 5.85 230.11 -0.65 4.05 159.24
Putnam N/A -0.70 4.00 157.28
Burford 1.15 5.85 230.11 -0.65 4.05 159.24
Port Perry 0.90 5.60 220.27 -0.65 4.05 159.24
Norfolk 1.15 5.85 230.11 -0.65 4.05 159.24
Palmerston N/A -0.70 4.00 157.28
Varna 1.15 5.85 230.11 -0.65 4.05 159.24
Trenton 0.90 5.60 220.27 -0.75 3.95 155.31
Winchester 0.80 5.50 216.33 -0.45 4.25 167.12
North Gower 0.45 5.15 202.55 -0.40 4.30 169.09
Huron FOB 1.25 5.95 234.04 -0.65 4.05 159.24
Kent FOB 1.20 5.90 232.08 -0.65 4.05 159.24
Lamb FOB 1.20 5.90 232.08 -0.65 4.05 159.24
Mdsx FOB 1.20N/A N/A N/A 5.90 232.08 -0.65 4.05 159.24
FOB SW Que N/A -0.60 4.10 161.21
Track 1.43 6.12 240.93N/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 1.15 -0.55 -0.55 -0.55 5.85 230.11 -0.55 4.15 163.18
Sarn-Eth 1.00 1.00 -0.50 -0.50 5.70 224.20 -0.50 4.20 165.15
Cllngwd-Eth N/A N/A N/A N/A N/A*
London-Ing 1.20 1.20 -0.40 -0.40 5.90 232.08 -0.30 4.40 173.02
Pt.Colb-Ing 1.50 1.25 -0.35 -0.35 6.20 243.89 -0.35 4.35 171.06
Cardnl-Ing N/A -0.15 -0.35 -0.35 -0.35 4.35 171.06
W O Feed 1.54 1.49 6.24 245.54
US Rep 2.05 2.00 6.75 265.54
Toledo El. 1.39 6.08 239.38 -0.31 4.38 172.44
TRANSFER
Sarnia N/A N/A
Pt. Stanley N/A -0.65 4.05159 1/4
Hamilton N/A -0.50 4.20165 1/7
MID SD CRN -0.67 1/2 4.02
HI SD CRN -0.65 4.04 1/2
*Wet Bid
Bank of Canada Noon exchange rate was 1.0482 down 0.0051
Chicago soybeans closed moderately lower to lower.
NOV13 HI 13.87 1/4 NOV13 HI 13.87 1/4
LOW 13.41 1/2 LOW 13.41 1/2
CLOSE13.52 1/2 Down 34 1/4 CLOSE 13.52 1/2 Down 34 1/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +NOV1+NOV1+JAN14
CK Low 2.35 15.88 583.31-0.05 13.48 495.12
CK High 2.45 15.98 586.980.02 13.55 497.69
CK Average 2.41 1.73 15.93 585.33-0.02-0.6913.50 496.16
Essex Cty 2.65 16.18 594.330.18 13.71 503.57
Mdsx Low 2.40 15.93 585.14-0.08 13.45 494.02
Mdsx High 2.41 15.94 585.510.00 13.53 496.96
Mdsx Average 2.41 1.73 15.93 585.33-0.04-0.7113.49 495.49
Hensall 2.40 15.93 585.14-0.03 13.50 496.04
Bruce 1.15 14.68 539.210.00 13.53 496.96
Putnam N/A -0.15 13.38 491.45
Burford 2.44 15.97 586.61-0.05 13.48 495.12
Port Perry 2.41 15.94 585.51-0.06 13.47 494.75
Norfolk 2.55 16.08 590.660.00 13.53 496.96
Palmerston N/A 0.00 13.53 496.96
Varna 2.40 15.93 585.140.00 13.53 496.96
Trenton 2.25 15.78 579.63-0.10 13.43 493.28
Winchester 2.27 15.80 580.370.20 13.73 504.31
North Gower 2.27 15.80 580.370.17 13.70 503.21
Huron FOB 2.35 15.88 583.31-0.05 13.48 495.12
Kent FOB 2.45 15.98 586.980.00 13.53 496.96
Lambton FOB 2.45 15.98 586.980.00 13.53 496.96
Middlesex FOB2.77 N/A N/A N/A 16.30 598.740.13 13.66 501.74
PROCESSORS
Hamilton 3.10 0.55 0.55 0.50 16.63 610.860.55 14.08 517.17
Windsor 2.88 N/A N/A N/A 16.41 602.780.41 13.94 512.02
Winchester N/A N/A
TRANSFER
Hamilton N/A N/A N/A N/A 0.47 14.00 514.23
Pt. Stanley N/A N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC N/A 0.90 14.43 530.03
Toledo El. 1.02 14.54 534.37-0.40 13.13 482.30
Bank of Canada Noon exchange rate was 1.0482 down 0.0051
Chicago wheat closed narrowly mixed.
DEC13 HI 6.47 1/2 JUL14 HI 6.62 1/4
LOW 6.40 LOW 6.54 1/2
CLOSE 6.46 1/4 Down 1 CLOSE 6.61 Up 3/4
Minni wheat closed slightly lower.
DEC13 HI 7.27 SEP14 HI 7.52
LOW 7.18 3/4 LOW 7.49 3/4
CLOSE 7.22 Down 3 CLOSE 7.52 Down 1
GFO Cash Wheat Prices - DEL Terminal
Current Crop 13 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.31 -0.26 -0.62 -0.59
CAD $/bu 6.15 6.21 5.84 6.63
CAD $/tonne 226.10 228.03 214.53 243.75
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 -0.95 N/A N/A N/A -1.15 N/A
London -0.82 -0.77 -1.03 N/A -0.39 -0.80 -1.11 N/A
Hensall -1.10 N/A -1.10 N/A -0.70 N/A -1.20 N/A
Trenton N/A N/A -1.25 N/A N/A N/A -1.30 N/A
Winchester N/A N/A N/A -0.91 N/A N/A N/A N/A
Essex N/A N/A -0.87 N/A N/A N/A -1.14 N/A
Norwich -1.00 N/A -1.00 N/A -0.70 N/A -1.20 N/A
Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A
Kent Bridge -0.70 N/A -0.80 N/A -0.70 N/A -1.15 N/A
Chatham N/A -0.80 -0.70 N/A N/A N/A -1.13 N/A
Brigden N/A -0.80 -0.70 N/A N/A N/A -1.13 N/A
Palmerston N/A -0.57 -0.99 -0.58 N/A -0.62 -1.04 -0.62
Varna N/A -0.90 -1.05 N/A -0.70 -0.85 -1.15 N/A
Mitchell -1.10 -1.10 -1.10 N/A -0.70 -0.50 -1.20 N/A
Thornton N/A N/A N/A -0.74 N/A N/A N/A N/A
North Gower N/A N/A N/A -0.54 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 -0.47 N/A N/A N/A N/A 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 0.09N/A 1.01N/A 0.54N/A
Toledo El. 6.25US 6.56CA 6.50US 6.82CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 14 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.41 -0.51 -0.83 -0.62
CAD $/bu 6.20 6.10 5.78 6.90
CAD $/tonne 227.94 224.08 212.51 253.39
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
Bayport Wheat 300.00 - 340.00
Bayport Oats 300.00
Bayport Barley 270.00
FOB Hm Soymeal 648.17 - 654.78
DDG's FOB Srn & Aylm 275.00 - 280.00
Wednesday September 4, 2013
Commodity Period Price Weekly Movement
Corn CBOT Dec. 4.69 ½ ↓ 11 ¼ cents
Soybeans CBOT Nov. 13.52 ½ ↓ 20 ¼ cents
Wheat CBOT Dec. 6.46 ¼ ↓ 13 ¼ cents
Wheat Minn. Dec. 7.22 ↓ 18 ½ cents
Wheat Kansas Dec. 6.98 ½ ↓ 11 ¾ cents
Canadian $ Sept 0.9527 ↓ 5 points
CORN:
In the USDA Crop Progress Report released on September 1, the corn crop ratings continued to weaken. The very poor to poor rating increased two percentage points from last week to 16 percent this week. The good to excellent rating numbers were reduced another three percentage points from last week to 56 percent this week.
New this week, the numbers for the crop maturation rates were released and came in at four percent. This is off the five-year average of 17 percent. The dough stage progression continues to move and is at 84 percent this week and the dented stage of the crop is at 42 percent this week.
Since Wednesday, August 28, corn has maintained a modest trading range. A slight boost to the market on Tuesday, September 3, was short-lived and the downward trend continues. The USDA is releasing their WASDE report on Thursday, September 12, at 12:15pm.
SOYBEANS:
The USDA Crop Progress Report once again decreased the soybean crop ratings. The very poor to poor rating increased two percentage points from last week to 15 percent this week and the good to excellent rating dropped four percentage points to 54 percent this week, as recent dryness and heat have affected the soybean plants.
Soybean futures finished lower at the end of last week but rebounded on Tuesday, September 3 to break through the $14 per bushel trading. However, that was quick and the markets shifted back to their bearish movement. Soybean movement is still setting the pace for the market movement. It is evident this is still very much hinging on current and prospective weather. Rains are needed and there are some scattered showers in the near future but will it be enough? Time will tell.
WHEAT:
Spring wheat harvest is up 22 percentage points from last week to come in at 64 percent complete this week. The spring wheat condition ratings improved this week. The good to excellent rating increased three percentage points to come in at 70 percent this week. The very poor to poor rating decreased one percentage point to six percent this week.
Both the winter wheat and spring wheat markets had similar trends in the past week. Both continued to be bearish towards the end of the week. On Tuesday, September 3, there was a slight bounce in the markets but as with other markets, it was short-lived and the bears continued Wednesday, September 4.
2013 Harvest contract prices for September 4, 2013 at close are as follows:
SWW at $226.10 per tonne ($6.15/bu.), SRW at $214.52 per tonne ($5.84/bu.), HRW at $228.02 per tonne ($6.21/bu.), and HRS at $243.74 per tonne ($6.63/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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