[Farmmarketnews] Wednesday Ontario Commodity Report and Marty Hibbs GFO Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Jun 18 15:40:12 EDT 2014
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FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, June 18
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.087 up 0.0018
Chicago corn closed steady to slightly higher.
JUL14 HI 4.43 3/4 DEC14 HI 4.42 3/4
LOW 4.38 1/2 LOW 4.38 1/2
CLOSE4.41 1/2 Up 2 3/4 CLOSE 4.39 1/2 Unchanged
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 4.22 165.94 -0.25 4.15 163.18
CK High -0.15 4.27 167.91 -0.20 4.20 165.15
CK Avg -0.16 -0.55 4.26 167.58 -0.21 -0.60 4.19 164.82
Essex Cty -0.02 4.40 173.02 -0.24 4.16 163.58
Mdsx Low -0.15 4.27 167.91 -0.20 4.20 165.15
Mdsx High -0.15 4.27 167.91 -0.20 4.20 165.15
Mdsx Avg -0.15 -0.54 4.27 167.91 -0.20 -0.59 4.20 165.15
Hensall -0.15 4.27 167.91 -0.20 4.20 165.15
Bruce -0.15 4.27 167.91 -0.20 4.20 165.15
Putnam -0.15 4.27 167.91 -0.20 4.20 165.15
Burford -0.15 4.27 167.91 -0.20 4.20 165.15
Port Perry -0.15 4.27 167.91 -0.20 4.20 165.15
Norfolk -0.15 4.27 167.91 -0.20 4.20 165.15
Palmerston -0.20 4.22 165.94 -0.25 4.15 163.18
Varna -0.15 4.27 167.91 -0.20 4.20 165.15
Trenton 0.00 4.42 173.81 -0.10 4.30 169.09
Winchester 0.15 4.57 179.72 0.05 4.45 174.99
North Gower 0.05 4.47 175.78 0.02 4.42 173.81
Huron FOB 0.15 4.57 179.72 -0.25 4.15 163.18
Kent FOB -0.15 4.27 167.91 -0.20 4.20 165.15
Lamb FOB -0.15 4.27 167.91 -0.20 4.20 165.15
Mdsx FOB 0.05N/A N/A N/A 4.47 175.78 -0.20 4.20 165.15
FOB SW Que 0.85 5.27 207.27 -0.05 4.35 171.06
Track 0.33 4.74 186.61N/A
PROCESSORS
Chat-Eth 0.15 0.15 0.20 0.20 4.57 179.72N/A
Jhnstwn-Eth N/A N/A N/A N/A N/A
Aylmer-Eth 0.15 0.15 0.20 0.20 4.57 179.72 N/A
Sarn-Eth 0.20 0.30 0.35 0.40 4.62 181.68N/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 4.45 174.99
Pt.Colb-Ing 0.50 0.60 0.60 0.55 4.92 193.49 0.10 4.50 176.96
Cardnl-Ing N/A N/A 0.50 0.55 0.20 4.60 180.90
W O Feed 0.49 0.40 4.91 193.10
US Rep 0.60 0.51 5.02 197.43
Toledo El. -0.14 4.27 168.24 -0.34 4.06 159.73
TRANSFER
Sarnia N/A N/A
Pt. Stanley N/A N/A
Hamilton 0.55 4.97195 1/2 0.00 4.40173
MID SD CRN -0.22 1/2 4.17
HI SD CRN -0.20 4.19 1/2
*Wet Bid
Bank of Canada Noon exchange rate was 1.087 up 0.0018
Chicago soybeans closed steady to slightly higher.
AUG14 HI 13.65 1/2 NOV14 HI 12.19
LOW 13.40 3/4 LOW 12.06 1/2
CLOSE13.57 1/4 Up 8 3/4 CLOSE 12.13 Up 1
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +AUG1+AUG1+NOV14
CK Low 1.92 15.49 569.250.36 12.49 458.93
CK High 2.05 15.62 574.030.50 12.63 464.07
CK Average 2.00 0.79 15.57 572.010.44 -0.6512.57 461.68
Essex Cty 2.40 15.97 586.890.65 12.78 469.58
Mdsx Low 1.92 15.49 569.250.36 12.49 458.93
Mdsx High 2.05 15.62 574.030.45 12.58 462.24
Mdsx Average 1.99 0.78 15.56 571.640.41 -0.6812.54 460.58
Hensall 2.03 15.60 573.110.43 12.56 461.32
Bruce 2.05 15.62 574.030.45 12.58 462.24
Putnam 2.00 15.57 572.190.45 12.58 462.24
Burford 1.95 15.52 570.350.35 12.48 458.56
Port Perry 1.92 15.49 569.250.36 12.49 458.93
Norfolk 1.95 15.52 570.350.45 12.58 462.24
Palmerston 2.00 15.57 572.190.40 12.53 460.40
Varna 1.92 15.49 569.250.40 12.53 460.40
Trenton 1.95 15.52 570.350.40 12.53 460.40
Winchester 1.94 15.51 569.990.63 12.76 468.85
North Gower 2.27 15.84 582.110.78 12.91 474.36
Huron FOB 2.10 15.67 575.870.50 12.63 464.07
Kent FOB 2.00 15.57 572.190.45 12.58 462.24
Lambton FOB 2.00 15.57 572.190.45 12.58 462.24
Middlesex FOB2.03 N/A N/A N/A 15.60 573.290.56 12.69 466.28
PROCESSORS
Hamilton 2.43 2.49 N/A N/A 16.00 587.990.93 13.06 479.87
Windsor 2.63 2.48 N/A N/A 16.20 595.340.88 13.01 478.04
Winchester N/A N/A
TRANSFER
Hamilton 2.59 N/A N/A N/A 16.16 593.870.80 12.93 475.10
Pt. Stanley N/A N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC 1.58 15.15 556.760.00 12.13 445.70
Toledo El. 0.86 14.43 530.32-0.30 11.83 434.50
Bank of Canada Noon exchange rate was 1.087 up 0.0018
Chicago wheat closed slightly higher.
JUL14 HI 5.98 JUL14 HI 5.98
LOW 5.81 1/2 LOW 5.81 1/2
CLOSE 5.87 Up 5 1/4 CLOSE 5.87 Up 5 1/4
Minni wheat closed moderately higher.
JUL14 HI 7.11 1/4 SEP14 HI 7.15 1/4
LOW 6.82 LOW 6.90
CLOSE 6.97 1/4 Up 13 1/2 CLOSE 7.01 1/2 Up 10 3/4
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 -0.08 -0.36
CAD $/bu 6.01 6.12 5.79 6.61
CAD $/tonne 220.89 224.90 212.89 243.00
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 -0.34 N/A
London 0.14 0.35 -0.35 N/A 0.04 0.10 -0.45 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 -0.49 N/A N/A N/A -0.54 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 0.37 -0.30 0.04 N/A 0.28 -0.37 -0.31
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 -1.02 N/A N/A N/A N/A
North Gower N/A N/A N/A -0.40 N/A N/A N/A -0.09
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 -0.04 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. 5.84US 6.36CA 5.89US 6.41CA
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 -0.08
CAD $/bu 6.07 6.18 5.69 6.93
CAD $/tonne 222.90 226.90 208.89 254.71
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
Bayport Wheat 280.00 - 340.00
Bayport Oats 360.00
Bayport Barley 280.00
FOB Hm Soymeal 615.32 - 617.53
DDG's FOB Srn & Aylm 290.00 - 305.00
--
Wednesday June 18th, 2014
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT July 4.41 ↓ 15 cents
Soybeans CBOT July 14.09 ↓ 36 cents
Wheat CBOT July 5.86 ↓ 3 cents
Wheat Minn. July 6.96 ↑ 12 cents
Wheat Kansas July 7.04 ↑ 26 cents
Canadian $ Sept 0..9163 ↓ 38 points
CORN:
Nearby corn futures moved to a four month low last week, shifting the weekly trend to lower. Favourable crop condition ratings and weather forecasts along with fund long liquidation weighed on prices as the July contract is trading almost a full dollar lower than this time period last month.
Societe Generale (SocGen) said that it was mulling a switch to "bullish" from "neutral" in its rating on corn futures, given their "disconnect" with the relatively firm US cash market. The outperformance of the cash market could well "suggest that nearby corn prices are nearing a bottom and poised for a modest rally", said SocGen analyst Christopher Narayanan.
A much-watched US Department of Agriculture (USDA) report on US sowings, to be released on June 30, is seen as giving an updated view on harvest prospects, and the day will also see the release of estimates for domestic grain stocks as of June 1, giving an insight into demand for last year's crop.
SOYBEANS:
The soybean complex experienced some of the most dynamic price action last week as beans and meal plunged while soyoil edged higher.
July soybean futures have lost $1.25 per bushel breaking the $14.00 barrier on the CBOT over the past month and have turned both daily and weekly trends lower. Nearby soybean meal also dropped to a 2 ½ month low, turning the short term trend lower. Soyoil, however, edged higher making a new high for June and attempting to turn the short term trend positive on the soyoil.
Exports of soybeans from the world’s top shippers increased in the past two months even after buying slowed from China, Oil World said.
According to Oil World, shipments of soybeans from the top four exporting countries since the marketing year began in September jumped to 82.3 million tons by the end of May, a record for that time period and 27 percent higher than the same time last year.
WHEAT:
Chicago July wheat was down 32 cents per bushel last week to the lowest level since early February. USDA boosted US and global ending stock projections last week and the US harvest is ramping up in the Southern Plains.
The technical indicators still paint a negative picture on both the long term and short term trends. For those technical traders looking for a bottom to this market, the weekly chart shows an obvious target as we approach the old lows around $5.50 made back in January of this year. Failure to find support in this area suggests another $1.00 slide to the next major support level. Of course, this is a big picture analysis and there are many possibilities for news and weather to turn the technical indicators positive in the coming months.
2014 harvest prices as of close on June 18th are as follows:
SWW at $223.39/mt ($6.08/bu), SRW at $209.35/mt ($5.70/bu), HRW at $227.40/mt ($6.19/bu), HRS at $255.27/mt ($6.95 /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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