[Farmmarketnews] Wednesday Ontario Commodity Report & Todd Austin GFO Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Apr 9 15:39:44 EDT 2014
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, April 9
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.0903 down 0.0019
Chicago corn closed slightly to moderately lower.
MAY14 HI 5.19 DEC14 HI 5.17
LOW 5.00 LOW 5.01
CLOSE5.02 1/4 Down 4 3/4 CLOSE 5.05 1/2 Down 7 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 -0.30 4.72 185.92 -0.30 4.76 187.20
CK High -0.20 4.82 189.85 -0.25 4.81 189.16
CK Avg -0.27 -0.71 4.76 187.23 -0.29 -0.74 4.76 187.52
Essex Cty -0.25 4.77 187.89 -0.35 4.71 185.23
Mdsx Low -0.30 4.72 185.92 -0.30 4.76 187.20
Mdsx High -0.30 4.72 185.92 -0.30 4.76 187.20
Mdsx Avg -0.30 -0.74 4.72 185.92 -0.30 -0.75 4.76 187.20
Hensall -0.29 4.73 186.31 -0.29 4.77 187.59
Bruce -0.30 4.72 185.92 -0.30 4.76 187.20
Putnam -0.30 4.72 185.92 -0.30 4.76 187.20
Burford -0.30 4.72 185.92 -0.30 4.76 187.20
Port Perry -0.35 4.67 183.95 -0.30 4.76 187.20
Norfolk -0.20 4.82 189.85 -0.30 4.76 187.20
Palmerston -0.30 4.72 185.92 -0.30 4.76 187.20
Varna -0.30 4.72 185.92 -0.30 4.76 187.20
Trenton -0.20 4.82 189.85 -0.30 4.76 187.20
Winchester -0.05 4.97 195.76 -0.05 5.01 197.04
North Gower -0.04 4.98 196.15 -0.02 5.04 198.22
Huron FOB -0.15 4.87 191.82 -0.23 4.83 189.95
Kent FOB -0.20 4.82 189.85 -0.30 4.76 187.20
Lamb FOB -0.20 4.82 189.85 -0.30 4.76 187.20
Mdsx FOB -0.20 -0.20 -0.20N/A 4.82 189.85 -0.25 4.81 189.16
FOB SW Que 0.58 5.60 220.56 -0.05 5.01 197.04
Track 0.13 5.15 202.65N/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 -0.20 -0.20 -0.22 -0.10 4.82 189.85 N/A
Sarn-Eth 0.05 0.00 0.00 0.10 5.07 199.70N/A
Cllngwd-Eth N/A N/A N/A N/A N/A*
London-Ing N/A N/A N/A N/A -0.05 5.01 197.04
Pt.Colb-Ing N/A N/A N/A 0.35 0.00 5.06 199.01
Cardnl-Ing N/A N/A N/A 0.35 0.10 5.16 202.94
W O Feed 0.19 0.09 5.21 205.13
US Rep 0.70 0.60 5.72 225.28
Toledo El. -0.22 4.80 189.16 -0.36 4.70 184.87
TRANSFER
Sarnia N/A N/A
Pt. Stanley -0.20 4.82 189.85N/A
Hamilton 0.15 5.17203 5/8 -0.02 5.04198 2/9
MID SD CRN -0.25 4.77 1/4
HI SD CRN -0.20 4.82 1/4
*Wet Bid
Bank of Canada Noon exchange rate was 1.0903 down 0.0019
Chicago soybeans closed slightly to moderately higher.
MAY14 HI 15.12 NOV14 HI 12.34
LOW 14.81 1/2 LOW 12.15 1/4
CLOSE14.95 1/4 Up 12 3/4 CLOSE 12.27 1/2 Up 10
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +MAY1+AUG1+AUG14
CK Low 1.38 16.33 600.120.65 12.93 474.91
CK High 1.45 16.40 602.690.75 13.03 478.59
CK Average 1.41 0.09 16.36 601.100.69 -0.3912.96 476.32
Essex Cty 1.44 16.39 602.320.80 13.08 480.42
Mdsx Low 1.41 16.36 601.220.63 12.91 474.18
Mdsx High 1.45 16.40 602.690.65 12.93 474.91
Mdsx Average 1.43 0.11 16.38 601.950.64 -0.4412.92 474.55
Hensall 1.45 16.40 602.690.65 12.93 474.91
Bruce 1.45 16.40 602.690.65 12.93 474.91
Putnam 1.45 16.40 602.690.65 12.93 474.91
Burford 1.44 16.39 602.320.66 12.94 475.28
Port Perry 1.41 16.36 601.220.63 12.91 474.18
Norfolk 1.43 16.38 601.950.68 12.96 476.01
Palmerston 1.45 16.40 602.690.65 12.93 474.91
Varna 1.45 16.40 602.690.65 12.93 474.91
Trenton 1.40 16.35 600.850.65 12.93 474.91
Winchester 1.40 16.35 600.850.80 13.08 480.42
North Gower 1.46 16.41 603.060.98 13.26 487.04
Huron FOB 1.55 16.50 606.360.75 13.03 478.59
Kent FOB 1.38 16.33 600.120.68 12.96 476.01
Lambton FOB 1.38 16.33 600.120.68 12.96 476.01
Middlesex FOB1.46 1.45 N/A N/A 16.41 603.060.71 12.99 477.12
PROCESSORS
Hamilton 1.80 1.85 N/A N/A 16.75 615.551.14 13.42 492.92
Windsor 1.67 1.52 N/A N/A 16.62 610.771.03 13.31 488.88
Winchester N/A N/A
TRANSFER
Hamilton 1.70 N/A N/A N/A 16.65 611.871.02 13.30 488.51
Pt. Stanley N/A N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC 1.61 16.56 608.571.45 13.73 504.31
Toledo El. 0.13 15.08 554.21-0.30 11.97 439.83
Bank of Canada Noon exchange rate was 1.0903 down 0.0019
Chicago wheat closed moderately lower.
MAY14 HI 6.88 JUL14 HI 6.95 1/4
LOW 6.63 LOW 6.71
CLOSE 6.69 Down 12 CLOSE 6.77 1/4 Down 12
Minni wheat closed slightly to moderately lower.
MAY14 HI 7.29 SEP14 HI 7.40
LOW 7.10 LOW 7.23 3/4
CLOSE 7.12 3/4 Down 10 1/2 CLOSE 7.25 3/4 Down 9 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 0.64 0.21 -0.24
CAD $/bu 7.01 7.33 6.90 6.89
CAD $/tonne 257.49 269.48 253.49 252.99
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 0.10 -0.25 N/A
London 0.29 0.51 0.07 N/A 0.13 0.07 -0.26 N/A
Hensall 0.40 N/A 0.10 N/A 0.25 N/A -0.25 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 -0.10
Essex N/A N/A -0.04 N/A N/A N/A -0.29 N/A
Norwich 0.40 N/A 0.10 N/A 0.25 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 0.40 N/A 0.10 N/A 0.25 N/A -0.25 N/A
Chatham N/A N/A 0.08 N/A N/A N/A -0.28 N/A
Brigden N/A N/A 0.08 N/A N/A N/A -0.28 N/A
Palmerston N/A 0.61 0.07 0.13 N/A 0.17 -0.24 -0.23
Varna 0.35 0.65 0.10 N/A 0.30 0.15 -0.20 N/A
Mitchell 0.40 0.65 0.10 N/A 0.25 0.15 -0.20 N/A
Thornton N/A N/A N/A -0.22 N/A N/A N/A N/A
North Gower N/A N/A N/A -0.20 N/A N/A N/A 0.02
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 0.00 N/A
Pt. Stanley N/A N/A N/A N/A N/A N/A N/A N/A
PROCESSORS
Toledo FM 1.30N/A 0.81N/A N/A N/A 0.71N/A
Toledo El. 6.66US 7.25CA 6.74US 7.34CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 14 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.27 0.38 -0.06 -0.07
CAD $/bu 7.04 7.15 6.72 7.19
CAD $/tonne 258.79 262.78 246.79 264.18
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
Bayport Wheat 290.00 - 320.00
Bayport Oats 335.00
Bayport Barley 275.00
FOB Hm Soymeal 641.67 - 650.48
DDG's FOB Srn & Aylm 280.00 - 285.00
Wednesday April 9, 2014
Commodity Period Price Weekly Movement
Corn CBOT May 5.02¼ ↑ 6½ cents
Soybeans CBOT May 14.95¼ ↑ 33 cents
Wheat CBOT May 6.69 ↓ ¼ cent
Wheat Minn. May 7.12¾ ↓ 9½ cents
Wheat Kansas May 7.33¼ ↓ 5½ cents
Canadian $ June .91910 ↑ 140 points
CORN:
According the most recent USDA Grain Supply and Demand Summary, corn exports have increased by 125 million bushels. Likewise, the corresponding carry-out was lowered by 125 million bushels to 1.331 billion bushels. Global production rose 6.4 million tonnes, though carry-out was reduced slightly, due to increased export data.
China may be reducing its dependence on US corn and begin to buy more corn from Brazil. The US has previously supplied more than 90% of China’s corn imports; however, it now appears that China is broadening its supply base as demand has increased over the past number of years.
SOYBEANS:
US soybeans continue to be exported as indicated in a recent USDA report, showing a 50 million bushel increase in exports for this year. An already tight carryout is now increasingly tighter, even with the trimming of soybean demand for crush and residual use. Globally, carryout was also trimmed slightly, due mainly to a reduction in Brazilian soybean production.
For the first time in at least a decade, in April, Brazilian shipments of soybeans will fall short of deliveries in March, according to industry Oil World. Soybean exports from Brazil are predicted to fall this month after China recently canceled purchases.
WHEAT:
As of Sunday, in its first national crop rating for 2014, the US Department of Agriculture pegged the winter wheat crop at 35% ‘good to excellent’ which is historically on the low end of ratings for this time of year. The rating was at the low end of market expectations, and well below the 62% of seedlings rated ‘good to excellent’ at the end of November as they went into winter dormancy.
US Wheat carryout increased 25 million bushels to 583 million, which was on par with trade estimates. Feed usage was lowered, as were imports mentioned in this report. Globally, wheat ending stocks were up nearly 3 million tonnes
2014 harvest prices for April 9, at the market close, are as follows:
SWW at $259.37 per tonne ($7.06 /bu.), SRW at $247.35 per tonne ($6.73 /bu.), HRW at $263.38 per tonne ($7.17 /bu.), and HRS at $264.78 per tonne ($7.21 /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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