[Farmmarketnews] Wednesday Ontario Commodity Report and Todd Austin GFO Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Jul 9 15:20:31 EDT 2014
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, July 9
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.065 down 0.0024
Chicago corn closed moderately lower.
SEP14 HI 3.98 DEC14 HI 4.04
LOW 3.88 1/2 LOW 3.95
CLOSE3.91 1/4 Down 7 CLOSE 3.98 Down 6 1/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +SEP14+DEC14+DEC14
CK Low 0.10 4.01 157.97 -0.15 3.83 150.78
CK High 0.10 4.01 157.97 -0.15 3.83 150.78
CK Avg 0.10 -0.16 4.01 157.97 -0.15 -0.41 3.83 150.78
Essex Cty 0.10 4.01 157.97 -0.20 3.78 148.81
Mdsx Low 0.10 4.01 157.97 -0.15 3.83 150.78
Mdsx High 0.10 4.01 157.97 -0.15 3.83 150.78
Mdsx Avg 0.10 -0.16 4.01 157.97 -0.15 -0.41 3.83 150.78
Hensall 0.13 4.04 158.95 -0.18 3.81 149.80
Bruce 0.10 4.01 157.97 -0.15 3.83 150.78
Putnam 0.10 4.01 157.97 -0.15 3.83 150.78
Burford 0.10 4.01 157.97 -0.15 3.83 150.78
Port Perry 0.05 3.96 156.00 -0.15 3.83 150.78
Norfolk 0.10 4.01 157.97 -0.15 3.83 150.78
Palmerston 0.05 3.96 156.00 -0.15 3.83 150.78
Varna 0.05 3.96 156.00 -0.20 3.78 148.81
Trenton 0.10 4.01 157.97 -0.10 3.88 152.75
Winchester 0.25 4.16 163.87 0.15 4.13 162.59
North Gower 0.27 4.18 164.66 0.17 4.15 163.38
Huron FOB 0.35 4.26 167.81 -0.20 3.78 148.81
Kent FOB 0.10 4.01 157.97 -0.15 3.83 150.78
Lamb FOB 0.10 4.01 157.97 -0.15 3.83 150.78
Mdsx FOB 0.15N/A N/A N/A 4.06 159.93 -0.15 3.83 150.78
FOB SW Que 0.70 4.61 181.59 -0.13 3.85 151.57
Track 0.60 4.51 177.65N/A
PROCESSORS
Chat-Eth 0.20 0.25 0.25N/A 4.11 161.90N/A
Jhnstwn-Eth N/A N/A N/A N/A N/A
Aylmer-Eth 0.20 0.25 0.25N/A 4.11 161.90 N/A
Sarn-Eth 0.45 0.50 0.45N/A 4.36 171.74 0.00 3.98 156.69
Cllngwd-Eth N/A N/A N/A N/A N/A*
London-Ing N/A N/A 0.45 0.55 0.10 4.08 160.62
Pt.Colb-Ing 0.60 0.65 0.65 0.70 4.51 177.65 0.15 4.13 162.59
Cardnl-Ing N/A N/A 0.60 0.75 0.25 4.23 166.53
W O Feed 0.73 0.66 4.64 182.77
US Rep 0.70 0.63 4.61 181.59
Toledo El. -0.11 3.81 149.83 -0.33 3.65 143.67
TRANSFER
Sarnia N/A N/A
Pt. Stanley N/A N/A
Hamilton 0.65 4.56179 5/8 0.08 4.06159 5/6
MID SD CRN -0.15 3.83
HI SD CRN -0.15 3.83
*Wet Bid
Bank of Canada Noon exchange rate was 1.065 down 0.0024
Chicago soybeans closed slightly lower.
AUG14 HI 12.53 1/2 NOV14 HI 11.17 1/2
LOW 12.31 1/4 LOW 11.00 3/4
CLOSE12.46 1/2 Down 2 CLOSE 11.03 3/4 Down 12 1/2
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +AUG1+AUG1+NOV14
CK Low 1.65 14.12 518.640.11 11.15 409.60
CK High 1.80 14.27 524.150.20 11.24 412.91
CK Average 1.75 0.92 14.22 522.310.15 -0.5811.19 411.13
Essex Cty 1.84 14.31 525.620.23 11.27 414.01
Mdsx Low 1.65 14.12 518.640.09 11.13 408.87
Mdsx High 1.80 14.27 524.150.15 11.19 411.07
Mdsx Average 1.73 0.90 14.19 521.390.12 -0.6111.16 409.97
Hensall 1.78 14.24 523.230.15 11.19 411.07
Bruce 1.80 14.27 524.150.15 11.19 411.07
Putnam 1.80 14.27 524.150.15 11.19 411.07
Burford 1.68 14.15 519.740.12 11.16 409.97
Port Perry 1.65 14.12 518.640.09 11.13 408.87
Norfolk 1.75 14.22 522.310.15 11.19 411.07
Palmerston 1.70 14.17 520.470.15 11.19 411.07
Varna 1.70 14.17 520.470.15 11.19 411.07
Trenton 1.65 14.12 518.640.15 11.19 411.07
Winchester 1.75 14.22 522.310.43 11.47 421.36
North Gower 1.67 14.14 519.370.48 11.52 423.20
Huron FOB 1.85 14.32 525.990.25 11.29 414.74
Kent FOB 1.75 14.22 522.310.15 11.19 411.07
Lambton FOB 1.75 14.22 522.310.15 11.19 411.07
Middlesex FOB1.85 N/A N/A N/A 14.32 525.990.22 11.26 413.64
PROCESSORS
Hamilton 2.22 N/A N/A N/A 14.69 539.580.61 11.65 427.97
Windsor 2.07 2.02 N/A N/A 14.54 534.070.46 11.50 422.46
Winchester N/A N/A
TRANSFER
Hamilton 2.40 N/A N/A N/A 14.87 546.200.50 11.54 423.93
Pt. Stanley N/A N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC 2.00 14.47 531.501.26 12.30 451.86
Toledo El. 0.71 13.18 484.27-0.30 10.74 394.59
Bank of Canada Noon exchange rate was 1.065 down 0.0024
Chicago wheat closed slightly lower.
SEP14 HI 5.58 1/4 JUL15 HI 6.31 1/4
LOW 5.47 3/4 LOW 6.21
CLOSE 5.51 1/4 Down 5 CLOSE 6.24 1/4 Down 6 1/2
Minni wheat closed slightly lower.
SEP14 HI 6.56 JUL15 HI 6.92
LOW 6.43 3/4 LOW 6.85 3/4
CLOSE 6.47 1/4 Down 9 3/4 CLOSE 6.87 3/4 Down 7 1/4
GFO Cash Wheat Prices - DEL Terminal
Current Crop 14 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.10 0.21 -0.27 -0.37
CAD $/bu 5.61 5.72 5.24 6.10
CAD $/tonne 206.23 210.15 192.52 224.26
Direct MarkHarvest 2014 Harvest 2015
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 0.02 -0.38 N/A N/A N/A -0.47 N/A
London -0.09 0.12 -0.47 N/A -0.31 -0.36 -0.47 N/A
Hensall 0.12 N/A -0.48 N/A 0.10 N/A -0.45 N/A
Trenton N/A N/A -0.40 N/A N/A N/A N/A N/A
Winchester N/A N/A N/A N/A N/A N/A N/A N/A
Essex N/A N/A -0.42 N/A N/A N/A -0.52 N/A
Norwich 0.12 N/A -0.48 N/A 0.10 N/A -0.45 N/A
Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A
Kent Bridge 0.12 N/A -0.48 N/A 0.10 N/A -0.45 N/A
Chatham N/A N/A -0.45 N/A N/A N/A -0.45 N/A
Brigden N/A N/A -0.45 N/A N/A N/A -0.45 N/A
Palmerston N/A 0.28 -0.36 -0.50 N/A 0.07 -0.58 N/A
Varna 0.05 -0.05 -0.50 N/A 0.00 -0.10 -0.50 N/A
Mitchell 0.12 0.17 -0.27 N/A 0.10 0.05 -0.45 N/A
Thornton N/A N/A N/A -1.12 N/A N/A N/A N/A
North Gower N/A N/A N/A -0.31 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 -0.26 N/A N/A N/A -0.39 N/A
Pt. Stanley N/A N/A N/A N/A N/A N/A N/A N/A
PROCESSORS
Toledo FM 0.79N/A 0.53N/A N/A N/A 0.52N/A
Toledo El. 5.53US 5.90CA 6.01US 6.41CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 15 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis -0.22 -0.12 -0.54 -0.50
CAD $/bu 6.02 6.12 5.70 6.38
CAD $/tonne 221.12 225.04 209.37 234.25
(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 320.00
Bayport Barley 280.00
FOB Hm Soymeal 579.94 - 588.75
DDG's FOB Srn & Aylm 230.00
Wednesday July 9, 2014
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT Sept 3.91 ¼ ↓ 21 cents
Soybeans CBOT Aug 12.46 ½ ↓ 68 ½ cents
Wheat CBOT Sept 5.51 ¼ ↓ 24 ¼ cents
Wheat Minn. Sept 6.47 ¼ ↓ 17 ¾ cents
Wheat Kansas Sept 6.53 ¼ ↓ 28 ½ cents
Canadian $ Sept 0.93770 ↑ 20 points
CORN:
Corn futures are at lows that have not been seen in four years, and have been in a sharp decline since May. Favourable weather and growing conditions in the U.S. have upgraded crop prospects for this year.
The June 30 USDA report pegged corn acres at 91.641 million, slightly below trade estimates. On its own, this report should have given the corn market some pause from its decline, however, the collapse of the soybean market helped send corn markets falling. The next USDA report on July 11 will update domestic production.
SOYBEANS:
Farmers have planted record soybean acres this year and with good growing conditions the market expects large supplies this fall to meet demand. The USDA pegged soybean production at 84.8 million acres with an estimated harvest of 84.1 million acres, while in Ontario, soybean estimates are that three million acres were planted this year.
According to Oil World, soybean stockpiles in Brazil have declined from last year even after farmers harvested a record crop, due to increasing demand from overseas buyers. Brazil’s inventories were 36.5 million tonnes as of the beginning of July, or approximately three per cent less than the same time last year.
WHEAT:
Wheat futures have fallen in sympathy with those of corn and soybeans. There have been decreasing concerns for the U.S. harvest as drier weather helps to improve the harvest progress. USDA’s National Agricultural Statistics Service report showed 57 per cent of winter wheat was harvested by July 6, below the 60 per cent of the five-year average for this week.
2014 wheat acres are up slightly from last year, and while yields are variable, in some cases they are better than expected. Russian winter wheat yields are better than expected as well, putting further pressure on world wheat prices.
SWW at $206.65/mt ($5.62/bu), SRW at $192.90/mt ($5.25/bu), HRW at $210.57/mt ($5.73/bu), HRS at $224.71/mt ($6.12/bu).
--
--
John Jordan
Editor, AgriLink and Farm Market News
University of Guelph, Ridgetown Campus
Tel. 519-674-1500 x 63577
Fax. 519-674-1530
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