[Farmmarketnews] Wednesday Ontario Commodity Report and Marty Hibbs GFO Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Jun 11 16:11:04 EDT 2014
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, June 11
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.0867 down 0.0048
Chicago corn closed slightly lower.
JUL14 HI 4.49 3/4 DEC14 HI 4.48 1/2
LOW 4.39 1/4 LOW 4.39
CLOSE4.41 Down 4 1/2 CLOSE 4.41 3/4 Down 3 1/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +SEP14+SEP14+DEC14
CK Low -0.20 4.21 165.74 -0.25 4.17 164.07
CK High -0.20 4.21 165.74 -0.25 4.17 164.07
CK Avg -0.20 -0.59 4.21 165.74 -0.25 -0.64 4.17 164.07
Essex Cty 0.00 4.41 173.61 -0.20 4.22 166.04
Mdsx Low -0.25 4.16 163.77 -0.25 4.17 164.07
Mdsx High -0.20 4.21 165.74 -0.25 4.17 164.07
Mdsx Avg -0.23 -0.62 4.19 164.76 -0.25 -0.64 4.17 164.07
Hensall -0.20 4.21 165.74 -0.25 4.17 164.07
Bruce -0.20 4.21 165.74 -0.25 4.17 164.07
Putnam -0.20 4.21 165.74 -0.25 4.17 164.07
Burford -0.25 4.16 163.77 -0.25 4.17 164.07
Port Perry -0.25 4.16 163.77 -0.25 4.17 164.07
Norfolk -0.20 4.21 165.74 -0.25 4.17 164.07
Palmerston -0.20 4.21 165.74 -0.25 4.17 164.07
Varna -0.20 4.21 165.74 -0.25 4.17 164.07
Trenton -0.05 4.36 171.65 -0.25 4.17 164.07
Winchester 0.10 4.51 177.55 -0.05 4.37 171.94
North Gower 0.05 4.46 175.58 0.02 4.44 174.70
Huron FOB 0.04 4.45 175.19 -0.28 4.14 162.89
Kent FOB -0.20 4.21 165.74 -0.25 4.17 164.07
Lamb FOB -0.20 4.21 165.74 -0.25 4.17 164.07
Mdsx FOB -0.25N/A N/A N/A 4.16 163.77 -0.25 4.17 164.07
FOB SW Que 0.55 4.96 195.27 -0.02 4.40 173.12
Track 0.30 4.71 185.42N/A
PROCESSORS
Chat-Eth 0.15 0.15 0.20 0.20 4.56 179.52N/A
Jhnstwn-Eth N/A N/A N/A N/A N/A
Aylmer-Eth 0.15 0.15 0.20 0.20 4.56 179.52 N/A
Sarn-Eth 0.00 0.10 0.15N/A 4.41 173.61N/A
Cllngwd-Eth N/A N/A N/A N/A N/A*
London-Ing N/A N/A N/A 0.35 0.05 4.47 175.88
Pt.Colb-Ing 0.55 0.60 0.60 0.55 4.96 195.27 0.10 4.52 177.85
Cardnl-Ing N/A N/A 0.50 0.55 0.20 4.62 181.78
W O Feed 0.43 0.34 4.84 190.54
US Rep 0.55 0.46 4.96 195.27
Toledo El. -0.17 4.24 166.75 -0.34 4.08 160.62
TRANSFER
Sarnia N/A N/A
Pt. Stanley N/A N/A
Hamilton 0.33 4.74186 3/5 0.02 4.44174 2/3
MID SD CRN -0.25 4.16 3/4
HI SD CRN -0.25 4.16 3/4
*Wet Bid
Bank of Canada Noon exchange rate was 1.0867 down 0.0048
Chicago soybeans closed slightly lower.
AUG14 HI 13.99 NOV14 HI 12.32
LOW 13.81 1/4 LOW 12.13 3/4
CLOSE13.82 3/4 Down 12 1/2 CLOSE 12.20 3/4 Down 8 3/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +AUG1+AUG1+NOV14
CK Low 1.95 15.78 579.720.40 12.61 463.25
CK High 2.00 15.83 581.560.50 12.71 466.92
CK Average 1.99 0.75 15.82 581.130.46 -0.6312.66 465.27
Essex Cty 2.08 15.91 584.500.63 12.84 471.70
Mdsx Low 1.98 15.81 580.830.40 12.61 463.25
Mdsx High 2.00 15.83 581.560.42 12.63 463.98
Mdsx Average 1.99 0.76 15.82 581.190.41 -0.6812.62 463.61
Hensall 2.03 15.85 582.480.43 12.63 464.16
Bruce 2.00 15.83 581.560.40 12.61 463.25
Putnam 2.00 15.83 581.560.40 12.61 463.25
Burford 2.01 15.84 581.930.45 12.66 465.08
Port Perry 2.03 15.86 582.660.42 12.63 463.98
Norfolk 1.95 15.78 579.720.46 12.67 465.45
Palmerston 2.05 15.88 583.400.45 12.66 465.08
Varna 2.03 15.86 582.660.45 12.66 465.08
Trenton 2.00 15.83 581.560.40 12.61 463.25
Winchester 2.05 15.88 583.400.70 12.91 474.27
North Gower 2.09 15.92 584.870.79 13.00 477.58
Huron FOB 2.15 15.98 587.070.55 12.76 468.76
Kent FOB 1.95 15.78 579.720.46 12.67 465.45
Lambton FOB 1.95 15.78 579.720.46 12.67 465.45
Middlesex FOB2.11 N/A N/A N/A 15.94 585.600.62 12.83 471.33
PROCESSORS
Hamilton 2.49 2.55 N/A N/A 16.32 599.570.96 13.17 483.82
Windsor 2.31 2.23 N/A N/A 16.14 592.950.86 13.07 480.15
Winchester N/A N/A
TRANSFER
Hamilton 2.32 N/A N/A N/A 16.15 593.320.83 13.04 479.05
Pt. Stanley N/A N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC 1.59 15.42 566.500.00 12.21 448.55
Toledo El. 0.98 14.81 544.09-0.30 11.90 437.34
Bank of Canada Noon exchange rate was 1.0867 down 0.0048
Chicago wheat closed moderately lower.
JUL14 HI 6.08 1/2 JUL14 HI 6.08 1/2
LOW 5.88 1/2 LOW 5.88 1/2
CLOSE 5.89 1/4 Down 12 CLOSE 5.89 1/4 Down 12
Minni wheat closed moderately lower.
JUL14 HI 7.04 1/4 SEP14 HI 7.10 1/4
LOW 6.83 LOW 6.90 1/2
CLOSE 6.84 Down 15 1/2 CLOSE 6.91 1/2 Down 14 1/4
GFO Cash Wheat Prices - DEL Terminal
Current Crop 13 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.14 0.25 -0.07 -0.37
CAD $/bu 6.04 6.15 5.82 6.47
CAD $/tonne 221.82 225.82 213.81 237.73
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 -0.35 N/A
London 0.17 0.39 -0.32 N/A 0.09 0.14 -0.41 N/A
Hensall 0.25 N/A -0.30 N/A 0.25 N/A -0.35 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 -0.01 N/A N/A N/A -0.38 N/A
Norwich 0.25 N/A -0.30 N/A 0.25 N/A -0.35 N/A
Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A
Kent Bridge 0.25 N/A -0.30 N/A 0.25 N/A -0.35 N/A
Chatham N/A N/A N/A N/A N/A N/A -0.35 N/A
Brigden N/A N/A N/A N/A N/A N/A -0.35 N/A
Palmerston N/A 0.39 -0.28 0.06 N/A 0.30 -0.36 -0.06
Varna 0.25 0.50 -0.25 N/A 0.25 0.15 -0.30 N/A
Mitchell 0.25 0.50 -0.30 N/A 0.25 0.15 -0.35 N/A
Thornton N/A N/A N/A -0.83 N/A N/A N/A N/A
North Gower N/A N/A N/A -0.40 N/A N/A N/A -0.03
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 -0.05 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 0.69N/A 0.96N/A 0.69N/A
Toledo El. 5.86US 6.39CA 5.91US 6.44CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 14 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.20 0.31 -0.18 -0.09
CAD $/bu 6.09 6.20 5.71 6.82
CAD $/tonne 223.82 227.82 209.81 250.73
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
Bayport Wheat 335.00 - 340.00
Bayport Oats 360.00
Bayport Barley 280.00
FOB Hm Soymeal 638.58 - 642.99
DDG's FOB Srn & Aylm 305.00
Wednesday June 11th, 2014
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT July 4.41 ↓ 15 cents
Soybeans CBOT July 14.45 ↓ 37 cents
Wheat CBOT July 5.89 ↓ 25 ¼ cents
Wheat Minn. July 6.84 ↓ 14 cents
Wheat Kansas July 7.04 ↓ 9 cents
Canadian $ Sept 0.9201 ↑ 78 points
USDA REPORT June 11-2014
CORN:
Estimates for world inventories was nudged higher by 80,000 tonnes to a 15-year high of 182.65m tonnes, reflecting increased expectations for crops in the European Union where Germany and the former Soviet Union have enjoyed improved early season growing conditions.
In the US, the harvest estimate and indeed the whole 2014-15 balance sheet was left unchanged with slightly slower-than-normal mid-May planting progress expected to be offset by very favourable early season crop and weather conditions.
July Corn traded as high as $4.50 per bushel before the report and closed near the low of $4.40
SOYBEANS:
For soybeans, the end-stocks estimate for 2014-15 was lifted by 650,000 tonnes to a record 82.88m tonnes, again contrasting with expectations of a small downgrade.
The soybean market displayed marked volatility, trading over a 20 cent trading range over a four-minute spell which took it both into positive and negative territory before settling down to the $14.45 level, 17 cents lower on the day.
WHEAT:
After starting the day higher, the July contract lost ground all morning and went negative after the USDA report with a 20 cent range on the day. Without further bullish news it looks like we could be setting our sights at a retest of the $5.50-5.60 level basis the lead contract month.
Australia, the southern hemisphere's largest wheat exporter, will produce 24.59m tonne of the grain in its harvest late in 2014. Hopes of an improvement in weather conditions in Australia are being undermined by the prospect of an El Nino pattern, which typically causes dryness in the country. About two‐thirds of El Niño events since 1900 have been associated with drought over large areas of Australia.
SWW at $223.84/mt ($6.09/bu), SRW at $209.82/mt ($5.71/bu), HRW at $227.84/mt ($6.20/bu), HRS at $250.76/mt ($6.82 /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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