[Farmmarketnews] Wednesday Ontario Commodity Report and Todd Austin GFO Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Apr 2 15:33:11 EDT 2014
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, April 2
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.1031 up 0.0004
Chicago corn closed moderately lower.
MAY14 HI 5.07 1/2 DEC14 HI 5.06 1/2
LOW 4.90 1/2 LOW 4.92 1/2
CLOSE4.95 3/4 Down 11 3/4 CLOSE 4.97 Down 8 1/2
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +JUL14+JUL14+SEP14
CK Low -0.25 4.71 185.33 -0.25 4.72 185.82
CK High -0.15 4.81 189.26 -0.25 4.72 185.82
CK Avg -0.23 -0.74 4.73 186.31 -0.25 -0.77 4.72 185.82
Essex Cty -0.15 4.81 189.26 -0.25 4.72 185.82
Mdsx Low -0.25 4.71 185.33 -0.25 4.72 185.82
Mdsx High -0.25 4.71 185.33 -0.25 4.72 185.82
Mdsx Avg -0.25 -0.77 4.71 185.33 -0.25 -0.77 4.72 185.82
Hensall -0.25 4.71 185.33 -0.25 4.72 185.82
Bruce -0.25 4.71 185.33 -0.25 4.72 185.82
Putnam -0.25 4.71 185.33 -0.25 4.72 185.82
Burford -0.25 4.71 185.33 -0.25 4.72 185.82
Port Perry -0.30 4.66 183.36 -0.25 4.72 185.82
Norfolk -0.15 4.81 189.26 -0.25 4.72 185.82
Palmerston -0.30 4.66 183.36 -0.25 4.72 185.82
Varna -0.25 4.71 185.33 -0.25 4.72 185.82
Trenton -0.20 4.76 187.29 -0.25 4.72 185.82
Winchester -0.05 4.91 193.20 -0.05 4.92 193.69
North Gower -0.03 4.93 193.99 -0.02 4.95 194.87
Huron FOB -0.12 4.84 190.44 -0.20 4.77 187.79
Kent FOB -0.15 4.81 189.26 -0.25 4.72 185.82
Lamb FOB -0.15 4.81 189.26 -0.25 4.72 185.82
Mdsx FOB -0.20 -0.20 -0.15 -0.10 4.76 187.29 -0.25 4.72 185.82
FOB SW Que 0.60 5.56 218.79 0.12 5.09 200.38
Track 0.08 5.03 198.12N/A
PROCESSORS
Chat-Eth -0.10 -0.10 -0.10 0.00 4.86 191.23N/A
Jhnstwn-Eth N/A N/A N/A N/A N/A
Aylmer-Eth -0.10 -0.10 -0.10 0.00 4.86 191.23 N/A
Sarn-Eth 0.05 0.00 0.00 0.10 5.01 197.14N/A
Cllngwd-Eth N/A N/A N/A N/A N/A*
London-Ing 0.10 0.15 0.15 0.25 5.06 199.10 -0.05 4.92 193.69
Pt.Colb-Ing 0.20 0.25 0.25 0.35 5.16 203.04 0.00 4.97 195.66
Cardnl-Ing N/A 0.40 0.40 0.45 0.10 5.07 199.60
W O Feed 0.20 0.09 5.16 203.20
US Rep 0.70 0.59 5.66 222.73
Toledo El. -0.22 4.74 186.47 -0.36 4.61 181.31
TRANSFER
Sarnia N/A N/A
Pt. Stanley -0.15 4.81 189.26N/A
Hamilton 0.17 5.13201 6/7 0.04 5.01197 1/4
MID SD CRN -0.20 4.75 3/4
HI SD CRN -0.15 4.80 3/4
*Wet Bid
Bank of Canada Noon exchange rate was 1.1031 up 0.0004
Chicago soybeans closed slightly to moderately lower.
MAY14 HI 14.96 NOV14 HI 12.19 1/2
LOW 14.56 LOW 11.93 1/4
CLOSE14.62 1/4 Down 22 1/4 CLOSE 11.98 Down 9 1/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +MAY1+AUG1+AUG14
CK Low 1.45 16.07 590.560.77 12.75 468.48
CK High 1.57 16.19 594.970.85 12.83 471.42
CK Average 1.53 0.00 16.15 593.580.81 -0.4412.79 470.01
Essex Cty 1.66 16.28 598.280.97 12.95 475.83
Mdsx Low 1.54 16.16 593.870.72 12.70 466.65
Mdsx High 1.60 16.22 596.070.80 12.78 469.58
Mdsx Average 1.57 0.04 16.19 594.970.76 -0.4912.74 468.11
Hensall 1.55 16.17 594.240.78 12.76 468.67
Bruce 1.60 16.22 596.070.80 12.78 469.58
Putnam 1.50 16.12 592.400.75 12.73 467.75
Burford 1.57 16.19 594.970.75 12.73 467.75
Port Perry 1.54 16.16 593.870.72 12.70 466.65
Norfolk 1.62 16.24 596.810.80 12.78 469.58
Palmerston 1.50 16.12 592.400.75 12.73 467.75
Varna 1.50 16.12 592.400.75 12.73 467.75
Trenton 1.35 15.97 586.890.70 12.68 465.91
Winchester 1.34 15.96 586.520.90 12.88 473.26
North Gower 1.46 16.08 590.930.98 12.96 476.20
Huron FOB 1.60 16.22 596.070.85 12.83 471.42
Kent FOB 1.57 16.19 594.970.80 12.78 469.58
Lambton FOB 1.57 16.19 594.970.80 12.78 469.58
Middlesex FOB1.63 1.62 N/A N/A 16.25 597.180.81 12.79 469.95
PROCESSORS
Hamilton 2.03 2.08 N/A N/A 16.65 611.871.24 13.22 485.75
Windsor 1.89 1.78 1.74 N/A 16.51 606.731.20 13.18 484.28
Winchester N/A N/A
TRANSFER
Hamilton 1.88 N/A N/A N/A 16.50 606.361.35 13.33 489.79
Pt. Stanley N/A N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC 1.73 16.35 600.851.63 13.61 500.08
Toledo El. 0.13 14.76 542.16-0.31 11.67 428.82
Bank of Canada Noon exchange rate was 1.1031 up 0.0004
Chicago wheat closed moderately lower.
MAY14 HI 6.88 JUL14 HI 6.92 3/4
LOW 6.65 LOW 6.70 1/2
CLOSE 6.69 1/4 Down 16 CLOSE 6.75 Down 15
Minni wheat closed moderately lower.
MAY14 HI 7.37 SEP14 HI 7.38 1/4
LOW 7.18 LOW 7.20
CLOSE 7.22 1/4 Down 13 CLOSE 7.24 1/4 Down 12 1/4
GFO Cash Wheat Prices - DEL Terminal
Current Crop 13 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.42 0.76 0.31 -0.13
CAD $/bu 7.12 7.45 7.01 7.10
CAD $/tonne 261.51 273.69 257.45 260.70
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 0.15 -0.15 N/A
London 0.37 0.59 0.15 N/A 0.21 0.15 -0.18 N/A
Hensall 0.35 N/A 0.10 N/A 0.30 N/A -0.20 N/A
Trenton N/A N/A N/A N/A N/A N/A -0.15 N/A
Winchester N/A N/A N/A N/A N/A N/A N/A N/A
Essex N/A N/A 0.12 N/A N/A N/A -0.14 N/A
Norwich 0.35 N/A 0.10 N/A 0.30 N/A -0.20 N/A
Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A
Kent Bridge 0.35 N/A 0.10 N/A 0.30 N/A -0.20 N/A
Chatham N/A N/A 0.15 N/A N/A N/A -0.15 N/A
Brigden N/A N/A 0.15 N/A N/A N/A -0.15 N/A
Palmerston N/A 0.67 0.13 0.19 N/A 0.22 -0.19 -0.17
Varna 0.40 0.65 0.10 N/A 0.30 0.25 -0.15 N/A
Mitchell 0.35 0.65 0.10 N/A 0.30 0.15 -0.20 N/A
Thornton N/A N/A N/A -0.24 N/A N/A N/A N/A
North Gower N/A N/A N/A -0.20 N/A N/A N/A 0.09
TERMINAL
Sarnia N/A N/A N/A N/A N/A N/A N/A N/A
Hamilton N/A N/A N/A N/A N/A N/A 0.09 N/A
Pt. Stanley N/A N/A N/A N/A N/A N/A N/A N/A
PROCESSORS
Toledo FM 1.42N/A 0.92N/A N/A N/A 0.82N/A
Toledo El. 6.66US 7.36CA 6.72US 7.42CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 14 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.27 0.49 0.04 0.04
CAD $/bu 7.02 7.24 6.79 7.28
CAD $/tonne 257.76 265.88 249.64 267.60
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
Bayport Wheat 290.00 - 295.00
Bayport Oats 325.00
Bayport Barley 275.00
FOB Hm Soymeal 641.00 - 644.31
DDG's FOB Srn & Aylm 275.00 - 280.00
Wednesday April 2, 2014
Commodity Period Price Weekly Movement
Corn CBOT May 4.95¾ ↑ 11¼ cents
Soybeans CBOT May 14.62¼ ↑ 22¼ cents
Wheat CBOT May 6.69¼ ↓ 27½ cents
Wheat Minn. May 7.22¼ ↓ 23¾ cents
Wheat Kansas May 7.38¾ ↓ 32½ cents
Canadian $ March .90510 ↑ 70 points
CORN:
According to the USDA’s Prospective Plantings report, US farmers are expected to plant 91.7 million acres of corn this year, which is down 4 percent from last year and the smallest acreage of corn planted since 2010. It is interesting to note however, that despite this decline in acres, the 2014 corn planting will be the fifth largest in the United States since 1944.
For much of the past four decades, the US has accounted for at least two-thirds of global corn exports. That fell to a record low of less than 20 percent of global exports last year, as the 2012 drought made US corn too expensive for many countries to import. Exports are now rebounding, and have been forecast to account for 36 percent of global exports in the current crop year.
SOYBEANS:
According to the Prospective Plantings report released by the USDA, US farmers are expected to plant 81.5 million acres of soybeans this year, 6 per cent more than last year and an all-time record high. If achieved, soybeans will surpass the previous record of 77.5 million acres planted, which was set in 2009.
Soybeans rallied after stockpiles in the US fell to the lowest in a decade. U.S. soybean inventories fell to 992.3 million bushels as of March 1, the lowest for the date since 2004, while on-farm stores dropped 16 percent from a year earlier. China’s soybean imports totaled 4.81 million metric tons in February, up from 2.9 million tons a year earlier.
WHEAT:
To address the rising demand for wheat globally, the International Wheat Yield partnership was formed and launched at the Borlaug Summit on Wheat for Food Security held in Mexico. This group aims to increase wheat yield and develop new wheat varieties adapted to different geographical regions. Wheat is an important staple crop, providing 20% of all calories consumed by people worldwide. Wheat also makes a significant contribution to animal feed.
Rain forecast for Kansas, Oklahoma and Texas may ease drought conditions for winter crops in the US. Additional factors such as a slightly bearish quarterly grain stocks number where the average trade guess was 1.042 billion bushels, while the USDA released 1.055 billion bushels, are putting pressure on the wheat market.
2014 harvest prices for April 2, at the market close, are as follows:
SWW at $258.26 per tonne ($7.03 /bu.), SRW at $250.13 per tonne ($6.81 /bu.), HRW at $266.40 per tonne ($7.25 /bu.), and HRS at $268.13 per tonne ($7.30 /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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