[Farmmarketnews] Wednesday Ontario Commodity Report & Grain Farmers of Ontario Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Sep 25 16:11:29 EDT 2013
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, September 25
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.0295 up 0.0000
Chicago corn closed slightly higher.
DEC13 HI 4.56 3/4 DEC13 HI 4.56 3/4
LOW 4.48 1/4 LOW 4.48 1/4
CLOSE4.54 3/4 Up 6 CLOSE 4.54 3/4 Up 6
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +DEC13+DEC13+MAR14
CK Low -0.55 4.00 157.37 -0.70 3.85 151.47
CK High -0.40 4.15 163.28 -0.70 3.85 151.47
CK Avg -0.43 -0.58 4.12 162.30 -0.70 -0.84 3.85 151.47
Essex Cty -0.35 4.20 165.25 -0.75 3.80 149.50
Mdsx Low -0.40 4.15 163.28 -0.70 3.85 151.47
Mdsx High -0.40 4.15 163.28 -0.70 3.85 151.47
Mdsx Avg -0.40 -0.55 4.15 163.28 -0.70 -0.84 3.85 151.47
Hensall -0.25 4.30 169.19 -0.70 3.85 151.47
Bruce -0.40 4.15 163.28 -0.70 3.85 151.47
Putnam N/A -0.70 3.85 151.47
Burford -0.40 4.15 163.28 -0.70 3.85 151.47
Port Perry -0.60 3.95 155.41 -0.70 3.85 151.47
Norfolk -0.55 4.00 157.37 -0.70 3.85 151.47
Palmerston N/A -0.70 3.85 151.47
Varna N/A -0.70 3.85 151.47
Trenton 0.20 4.75 186.90 -0.70 3.85 151.47
Winchester N/A -0.35 4.20 165.25
North Gower N/A -0.45 4.10 161.31
Huron FOB -0.10 4.45 175.09 -0.65 3.90 153.44
Kent FOB -0.55 4.00 157.37 -0.70 3.85 151.47
Lamb FOB -0.55 4.00 157.37 -0.70 3.85 151.47
Mdsx FOB -0.40 -0.70 -0.70 -0.60 4.15 163.28 -0.70 3.85 151.47
FOB SW Que N/A -0.70 3.85 151.47
Track 0.25 4.80 188.87N/A
PROCESSORS
Chat-Eth N/A -0.55 -0.55 -0.55 -0.55 4.00 157.37
Jhnstwn-Eth N/A -0.30 -0.35 -0.35 N/A
Aylmer-Eth -0.25 -0.55 -0.55 -0.55 4.30 169.19 -0.55 4.00 157.37
Sarn-Eth N/A -0.45 -0.45 -0.35 -0.45 4.10 161.31
Cllngwd-Eth N/A N/A N/A N/A N/A*
London-Ing -0.20 -0.25 -0.35 -0.45 4.35 171.15 -0.25 4.30 169.19
Pt.Colb-Ing -0.25 -0.25 -0.40 -0.40 4.30 169.19 -0.25 4.30 169.19
Cardnl-Ing -0.30 -0.30 -0.40 -0.40 4.25 167.22 -0.30 4.25 167.22
W O Feed 0.80 0.77 5.35 210.52
US Rep 0.51 0.48 5.06 199.10
Toledo El. -0.03 4.52 177.81 -0.31 4.24 166.85
TRANSFER
Sarnia N/A N/A
Pt. Stanley N/A -0.70 3.85151 1/2
Hamilton N/A -0.58 3.97156 1/5
MID SD CRN -0.70 3.84 3/4
HI SD CRN -0.70 3.84 3/4
*Wet Bid
Bank of Canada Noon exchange rate was 1.0295 up 0.0000
Chicago soybeans closed mixed.
NOV13 HI 13.28 NOV14 HI 11.86
LOW 13.06 1/2 LOW 11.72 1/2
CLOSE13.21 3/4 Up 9 1/4 CLOSE 11.79 Down 2
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +NOV1+NOV1+JAN14
CK Low -0.35 12.87 472.80-0.50 11.29 414.84
CK High -0.30 12.92 474.64-0.50 11.29 414.84
CK Average -0.32 -0.7612.90 473.90-0.50-0.8611.29 414.84
Essex Cty -0.13 13.09 480.88-0.34 11.45 420.72
Mdsx Low -0.35 12.87 472.80-0.49 11.30 415.20
Mdsx High -0.30 12.92 474.64-0.45 11.34 416.67
Mdsx Average -0.33 -0.7712.89 473.72-0.47-0.8311.32 415.94
Hensall -0.30 12.92 474.64-0.45 11.34 416.67
Bruce -0.30 12.92 474.64-0.40 11.39 418.51
Putnam -0.15 13.07 480.15 N/A
Burford -0.32 12.90 473.90-0.46 11.33 416.31
Port Perry -0.35 12.87 472.80-0.49 11.30 415.20
Norfolk -0.30 12.92 474.64-0.45 11.34 416.67
Palmerston -0.30 12.92 474.64-0.45 11.34 416.67
Varna -0.30 12.92 474.64-0.45 11.34 416.67
Trenton -0.40 12.82 470.96-0.55 11.24 413.00
Winchester 0.10 13.32 489.33-0.45 11.34 416.67
North Gower 0.08 13.30 488.60 N/A
Huron FOB -0.15 13.07 480.15-0.35 11.44 420.35
Kent FOB -0.30 12.92 474.64-0.50 11.29 414.84
Lambton FOB -0.30 12.92 474.64-0.50 11.29 414.84
Middlesex FOB0.07 0.07 0.07 N/A 13.29 488.23-0.49 11.30 415.20
PROCESSORS
Hamilton 0.20 0.20 0.20 0.25 13.42 493.01-0.10 11.69 429.53
Windsor 0.10 0.10 0.16 0.22 13.32 489.33-0.10 11.69 429.53
Winchester N/A N/A
TRANSFER
Hamilton 0.20 N/A N/A N/A 13.42 493.01 N/A
Pt. Stanley N/A N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC 0.65 13.87 509.54 N/A
Toledo El. -0.39 12.82 471.23-0.49 11.30 415.03
Bank of Canada Noon exchange rate was 1.0295 up 0.0000
Chicago wheat closed moderately higher.
DEC13 HI 6.75 JUL14 HI 6.80 1/4
LOW 6.57 1/2 LOW 6.66 3/4
CLOSE 6.70 1/2 Up 12 1/4 CLOSE 6.77 Up 10 1/2
Minni wheat closed slightly to moderately higher.
DEC13 HI 7.24 1/2 SEP14 HI 7.42 3/4
LOW 7.04 1/4 LOW 7.29 1/2
CLOSE 7.18 1/4 Up 13 1/4 CLOSE 7.40 Up 10
GFO Cash Wheat Prices - DEL Terminal
Current Crop 13 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.40 -0.29 -0.55 -0.69
CAD $/bu 6.31 6.41 6.15 6.49
CAD $/tonne 231.81 235.60 226.11 238.55
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 -1.05 N/A N/A N/A -1.20 N/A
London -1.03 -0.77 -0.98 N/A -0.72 -0.92 -1.23 N/A
Hensall -1.00 N/A -0.95 N/A -0.60 N/A -1.00 N/A
Trenton N/A N/A -1.20 N/A N/A N/A -1.20 N/A
Winchester N/A N/A N/A -0.60 N/A N/A N/A N/A
Essex N/A N/A -0.83 N/A N/A N/A -1.27 N/A
Norwich -0.75 N/A -0.80 N/A -0.60 N/A -1.00 N/A
Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A
Kent Bridge -0.65 N/A -0.70 N/A -0.60 N/A -1.00 N/A
Chatham N/A -0.90 -0.80 N/A N/A N/A -1.20 N/A
Brigden N/A -0.90 -0.80 N/A N/A N/A -1.20 N/A
Palmerston N/A -0.50 -0.92 -0.69 N/A -0.61 -1.02 -0.74
Varna -0.90 -0.50 -0.90 N/A -0.65 -0.65 -1.00 N/A
Mitchell -1.00 -0.30 -0.95 N/A -0.60 -0.65 -1.00 N/A
Thornton N/A N/A N/A -0.48 N/A N/A N/A N/A
North Gower N/A N/A N/A -0.75 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 -0.42 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 0.07N/A N/A N/A 0.41N/A
Toledo El. 6.50US 6.71CA 6.54US 6.74CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 14 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.46 -0.36 -0.67 -0.75
CAD $/bu 6.31 6.41 6.10 6.65
CAD $/tonne 231.80 235.59 224.23 244.30
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
Bayport Wheat 290.00 - 300.00
Bayport Oats 290.00
Bayport Barley 270.00
FOB Hm Soymeal 535.29 - 563.95
DDG's FOB Srn & Aylm 290.00 - 295.00
------------------------------------------------
Wednesday September 25, 2013
Commodity Period Price Weekly Movement
Corn CBOT Dec. 4.54 ¾ ↓ 1 ½ cents
Soybeans CBOT Nov. 13.21 ¾ ↓ 26 cents
Wheat CBOT Dec. 6.70 ½ ↑ 24 cents
Wheat Minn. Dec. 7.18 ¼ ↑ 18 cents
Wheat Kansas Dec. 7.18 ¼ ↑ 25 ¾ cents
Canadian $ Dec. 0.9678 ↓ 93 points
CORN:
Harvest in the US is still in the very early stages. Progress is slow with only seven percent of the harvest completed this week. Overall, the crop condition ratings did see some improvement. This week, the very poor to poor rating decreased two percent to 16 percent and the good to excellent rating improved two percent to 55 percent.
Although the range is narrow this week, the December corn futures downward trend has continued. There are talks that the long-term forecast is calling for some freezing temperatures in October. Should these conditions arise, they could potentially affect the crop development in its later stages. Weather is the key factor to keep an eye on as the crop maturity peaks.
SOYBEANS:
The USDA Crop Progress Report is now monitoring the progress of the soybean harvest. The report indicates three percent is completed so far. The condition ratings did see a minor improvement in the very poor to poor rating. This week the number was reported at 17 percent which is down one percent from last week. The good to excellent rating held steady at 50 percent.
As harvest is still in the early stages on both sides of the border, making any conclusive statements on yields would be misleading. November futures began climbing on Thursday, September 19 but it was short-lived and they have since fallen to the $13.00 per bushel trading range.
WHEAT:
The US Spring wheat harvest is on par with the five-year trend at 93 percent completed this week. Winter wheat planting is one percent behind its five-year average to come in at 23 percent this week.
Both winter and spring December wheat futures saw slight jumps Thursday, September 19 then fell back a bit again at the end of the week. The uptrends on both of the markets regained momentum this week to work to a high on Wednesday, September 25.
The shift in the wheat markets is being pushed by discussions of tight stocks in China. With significant crop losses that resulted from poor weather in May and June, it is expected that China will be looking to make purchases to help offset these losses.
2013 Harvest contract prices for September 25, 2013 at close are as follows:
SWW at $231.79 per tonne ($6.31/bu.), SRW at $226.10 per tonne ($6.15 /bu.), HRW at $235.59 per tonne ($6.41/bu.), and HRS at $238.53 per tonne ($6.49/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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