[Farmmarketnews] Wednesday Ontario Commodity Report
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Jan 29 16:36:57 EST 2014
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, January 29
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.1148 up 0.0000
Chicago corn closed slightly lower.
MAR14 HI 4.31 3/4 DEC14 HI 4.50 3/4
LOW 4.27 LOW 4.46
CLOSE4.27 1/2 Down 4 1/2 CLOSE 4.46 3/4 Down 4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +MAR14+MAY14+MAY14
CK Low -0.10 4.18 164.36 -0.15 4.32 169.97
CK High -0.05 4.23 166.33 -0.15 4.32 169.97
CK Avg -0.08 -0.58 4.19 165.02 -0.15 -0.67 4.32 169.97
Essex Cty 0.00 4.28 168.30 -0.15 4.32 169.97
Mdsx Low -0.10 4.18 164.36 -0.15 4.32 169.97
Mdsx High -0.10 4.18 164.36 -0.15 4.32 169.97
Mdsx Avg -0.10 -0.60 4.18 164.36 -0.15 -0.67 4.32 169.97
Hensall -0.11 4.17 163.97 -0.17 4.30 169.38
Bruce -0.10 4.18 164.36 -0.15 4.32 169.97
Putnam -0.10 4.18 164.36 -0.20 4.27 168.00
Burford -0.10 4.18 164.36 -0.15 4.32 169.97
Port Perry -0.15 4.13 162.39 -0.15 4.32 169.97
Norfolk -0.05 4.23 166.33 -0.15 4.32 169.97
Palmerston -0.10 4.18 164.36 -0.15 4.32 169.97
Varna -0.10 4.18 164.36 -0.15 4.32 169.97
Trenton -0.10 4.18 164.36 -0.15 4.32 169.97
Winchester -0.05 4.23 166.33 -0.08 4.39 172.73
North Gower -0.18 4.10 161.21 -0.15 4.32 169.97
Huron FOB 0.00 4.28 168.30 -0.20 4.27 168.00
Kent FOB -0.05 4.23 166.33 -0.15 4.32 169.97
Lamb FOB -0.05 4.23 166.33 -0.15 4.32 169.97
Mdsx FOB -0.10 -0.10 -0.10 -0.05 4.18 164.36 -0.15 4.32 169.97
FOB SW Que 0.45 4.73 186.02 0.12 4.59 180.60
Track 0.20 4.48 176.17N/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 N/A N/A N/A -0.10 N/A
Sarn-Eth -0.10 -0.10 -0.10N/A 4.18 164.36N/A
Cllngwd-Eth N/A N/A N/A N/A N/A*
London-Ing N/A N/A 0.05 0.15 -0.35 4.12 162.10
Pt.Colb-Ing N/A 0.15 0.10 0.20 -0.30 4.17 164.07
Cardnl-Ing N/A N/A 0.15 0.25 -0.25 4.22 166.04
W O Feed 0.30 0.17 4.58 180.11
US Rep 0.62 0.49 4.90 192.71
Toledo El. -0.15 4.13 162.58 -0.40 4.07 160.04
TRANSFER
Sarnia N/A N/A
Pt. Stanley -0.08 4.20 165.15N/A
Hamilton 0.16 4.44174 3/5 0.04 4.51177 4/9
MID SD CRN -0.07 1/2 4.20
HI SD CRN -0.05 4.22 1/2
*Wet Bid
Bank of Canada Noon exchange rate was 1.1148 up 0.0000
Chicago soybeans closed slightly to moderately lower.
MAR14 HI 12.86 NOV14 HI 11.06
LOW 12.66 LOW 10.96 1/4
CLOSE12.69 1/4 Down 16 1/4 CLOSE 10.97 3/4 Down 7 1/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +MAR1+MAR1+MAY14
CK Low 1.00 13.69 503.110.45 11.43 419.89
CK High 1.10 13.79 506.790.60 11.58 425.40
CK Average 1.06 -0.4313.75 505.320.51 -0.7811.49 422.15
Essex Cty 1.27 13.96 513.030.73 11.71 430.18
Mdsx Low 1.09 13.78 506.420.45 11.43 419.89
Mdsx High 1.10 13.79 506.790.48 11.46 420.99
Mdsx Average 1.10 -0.3913.79 506.600.47 -0.8211.44 420.44
Hensall 1.13 13.82 507.710.48 11.45 420.81
Bruce 1.10 13.79 506.790.45 11.43 419.89
Putnam 0.95 13.64 501.280.30 11.28 414.38
Burford 1.12 13.81 507.520.51 11.49 422.09
Port Perry 1.09 13.78 506.420.48 11.46 420.99
Norfolk 1.11 13.80 507.160.50 11.48 421.73
Palmerston 1.15 13.84 508.620.50 11.48 421.73
Varna 1.15 13.84 508.620.50 11.48 421.73
Trenton 1.00 13.69 503.110.50 11.48 421.73
Winchester 1.30 13.99 514.140.85 11.83 434.59
North Gower 0.60 13.29 488.420.60 11.58 425.40
Huron FOB 1.30 13.99 514.140.60 11.58 425.40
Kent FOB 1.06 13.75 505.320.50 11.48 421.73
Lambton FOB 1.06 13.75 505.320.50 11.48 421.73
Middlesex FOB1.25 1.25 1.31 N/A 13.94 512.300.71 11.69 429.44
PROCESSORS
Hamilton 1.55 1.55 1.60 N/A 14.24 523.321.05 12.03 441.93
Windsor 1.50 1.42 1.35 1.35 14.19 521.490.96 11.94 438.63
Winchester N/A N/A
TRANSFER
Hamilton 1.52 N/A N/A N/A 14.21 522.221.11 12.09 444.14
Pt. Stanley N/A N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC 1.85 14.54 534.351.44 12.42 456.27
Toledo El. 0.08 12.77 469.24-0.42 10.55 387.75
Bank of Canada Noon exchange rate was 1.1148 up 0.0000
Chicago wheat closed moderately lower.
MAR14 HI 5.67 JUL14 HI 5.76 1/2
LOW 5.50 1/2 LOW 5.58 1/4
CLOSE 5.51 1/2 Down 14 1/2 CLOSE 5.58 3/4 Down 17 3/4
Minni wheat closed slightly lower.
MAR14 HI 6.05 1/2 SEP14 HI 6.26 3/4
LOW 5.96 3/4 LOW 6.17 1/2
CLOSE 5.98 Down 7 CLOSE 6.18 Down 8 1/2
GFO Cash Wheat Prices - DEL Terminal
Current Crop 13 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.14 0.42 -0.02 -0.36
CAD $/bu 5.66 5.94 5.49 5.62
CAD $/tonne 207.94 218.20 201.78 206.50
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 -0.20 N/A
London -0.09 0.47 -0.04 N/A 0.15 0.09 -0.24 N/A
Hensall 0.40 N/A 0.15 N/A 0.15 N/A -0.20 N/A
Trenton N/A N/A N/A N/A N/A N/A -0.45 N/A
Winchester N/A N/A N/A N/A N/A N/A N/A N/A
Essex N/A N/A 0.00 N/A N/A N/A -0.14 N/A
Norwich 0.40 N/A 0.15 N/A 0.15 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 0.15 N/A 0.15 N/A -0.20 N/A
Chatham N/A 0.40 0.00 N/A N/A N/A -0.20 N/A
Brigden N/A 0.40 0.00 N/A N/A N/A -0.20 N/A
Palmerston N/A 0.60 -0.01 0.35 N/A 0.13 -0.28 0.00
Varna 0.15 0.40 -0.05 N/A 0.05 0.10 -0.25 N/A
Mitchell 0.40 0.55 0.15 N/A 0.15 0.15 -0.20 N/A
Thornton N/A N/A N/A -0.23 N/A N/A N/A N/A
North Gower N/A N/A N/A -0.50 N/A N/A N/A -0.64
TERMINAL
Sarnia N/A N/A N/A N/A N/A N/A N/A N/A
Hamilton N/A N/A 0.53 N/A N/A N/A 0.10 N/A
Pt. Stanley N/A N/A N/A N/A N/A N/A N/A N/A
PROCESSORS
Toledo FM 1.32N/A 0.70N/A 1.33N/A 0.77N/A
Toledo El. 5.43US 6.06CA 5.46US 6.10CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 14 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.01 0.26 -0.18 -0.28
CAD $/bu 5.57 5.85 5.41 5.90
CAD $/tonne 204.76 215.02 198.60 216.77
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
Bayport Wheat 290.00
Bayport Oats 310.00
Bayport Barley 270.00
FOB Hm Soymeal 590.08 - 607.71
DDG's FOB Srn & Aylm 280.00
Wednesday January 29, 2014
Commodity Period Price Weekly Movement
Corn CBOT March 4.27 ½ ↑ 1 ¼ cents
Soybeans CBOT March 12.69 ¼ ↓ 10 ¼ cents
Wheat CBOT March 5.51 ½ ↓ 10 cents
Wheat Minn. March 5.98 ↓ 18 ¾ cents
Wheat Kansas March 6.08 ¾ ↓ 12 ½ cents
Canadian $ March 0.8945 ↓ 66 points
CORN:
US corn exports remain strong, continuing above the pace required to meet this year's USDA’s export estimate of 1.45 billion bushels. Inspections recently were reported to be 28.7 million bushels, well above trade estimates.
Ethanol production in the US averaged 900,000 barrels per day for the week ending January 24, down slightly from the previous week. Total ethanol production for the week was 6.300 million bushels. Stocks tallied in at 16.932 million barrels, down slightly from the previous week.
SOYBEANS:
Anticipation of a large South American soybean crop continues to pressure the market. It has been rumoured that China will eventually cancel contracts to buy US soybeans and instead buy less expensive Brazilian beans. The expectation that demand will shift to South America has pulled US prices down this past week.
According to Oil World, global oilseed production will be larger than previous estimates. This is partially due to improving prospects for Brazilian soybeans. They peg Brazil’s crop at 89.5 million tonnes while reducing Argentina’s to 54 million tonnes, on account of dry weather. It should be noted that Brazil has begun its soybean harvest and although it is early, initial indications are that yields are reported as good.
WHEAT:
Egypt once again is in the news with its recent GASC tender. Egypt bought 180,000 tonnes of Russian origin wheat and 60,000 tonnes of US origin wheat. January purchases totalled 1.13m tonnes. Egypt had tightened its moisture requirement from 13.5 percent to 13.0 percent which effectively eliminated France from the tender.
US wheat areas remain cold and dry. If this current weather pattern remains, some are considering a lower wheat production level for next harvest. As the crop remains dormant, we will not know the extent of damage until we get closer to spring. Even if the dryness persists, it is also spring moisture that is critical in determining winter wheat potential.
2013 contract prices for January 29, at the market close, are as follows:
SWW at $207.77 per tonne ($5.65/bu.), SRW at $201.62 per tonne ($5.49 /bu.), HRW at $218.03 per tonne ($5.93 /bu.), and HRS at $206.33 per tonne ($5.62 /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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