[Farmmarketnews] Wednesday Ontario Commodity Report and Grain Farmers of Ontario Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Mar 12 15:35:26 EDT 2014
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, March 12
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.1132 up 0.0047
Chicago corn closed slightly higher.
MAY14 HI 4.89 DEC14 HI 4.86 3/4
LOW 4.76 1/2 LOW 4.75 1/2
CLOSE4.88 1/2 Up 5 1/4 CLOSE 4.86 1/4 Up 5
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +MAY14+JUL14+JUL14
CK Low -0.30 4.59 180.50 -0.30 4.56 179.62
CK High -0.17 4.72 185.62 -0.20 4.66 183.55
CK Avg -0.26 -0.81 4.62 182.01 -0.26 -0.82 4.60 181.26
Essex Cty 0.00 4.89 192.31 -0.25 4.61 181.59
Mdsx Low -0.30 4.59 180.50 -0.30 4.56 179.62
Mdsx High -0.30 4.59 180.50 -0.25 4.61 181.59
Mdsx Avg -0.30 -0.85 4.59 180.50 -0.28 -0.83 4.59 180.60
Hensall -0.29 4.60 180.90 -0.25 4.61 181.59
Bruce -0.30 4.59 180.50 -0.25 4.61 181.59
Putnam -0.20 4.69 184.44 -0.25 4.61 181.59
Burford -0.30 4.59 180.50 -0.30 4.56 179.62
Port Perry -0.35 4.54 178.54 -0.30 4.56 179.62
Norfolk -0.25 4.64 182.47 -0.27 4.59 180.80
Palmerston -0.30 4.59 180.50 -0.25 4.61 181.59
Varna -0.25 4.64 182.47 -0.25 4.61 181.59
Trenton -0.20 4.69 184.44 -0.25 4.61 181.59
Winchester -0.10 4.79 188.38 -0.10 4.76 187.49
North Gower 0.00 4.89 192.31 -0.10 4.76 187.49
Huron FOB -0.15 4.74 186.41 -0.20 4.66 183.55
Kent FOB -0.20 4.69 184.44 -0.55 4.31 169.78
Lamb FOB -0.20 4.69 184.44 -0.25 4.61 181.59
Mdsx FOB -0.30 -0.30 -0.30N/A 4.59 180.50 -0.30 4.56 179.62
FOB SW Que 0.45 5.34 210.03 0.15 5.01 197.33
Track 0.10 4.99 196.25N/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 -0.20 -0.20 -0.20 N/A
Sarn-Eth -0.10 0.00 0.00 0.00 4.79 188.38N/A
Cllngwd-Eth N/A N/A N/A N/A N/A*
London-Ing 0.00 0.05 0.10 0.10 4.89 192.31 -0.15 4.71 185.52
Pt.Colb-Ing N/A 0.15 0.20 0.20 -0.10 4.76 187.49
Cardnl-Ing N/A 0.35 0.40 0.35 0.00 4.86 191.43
W O Feed 0.23 0.11 5.12 201.53
US Rep 0.64 0.51 5.53 217.51
Toledo El. -0.24 4.64 182.68 -0.37 4.49 176.95
TRANSFER
Sarnia N/A N/A
Pt. Stanley -0.28 4.61 181.29N/A
Hamilton 0.05 4.94194 2/7 0.05 4.91193 2/5
MID SD CRN -0.23 1/2 4.651
HI SD CRN -0.17 4.71 1/2
*Wet Bid
Bank of Canada Noon exchange rate was 1.1132 up 0.0047
Chicago soybeans closed moderately lower to lower.
MAY14 HI 14.07 1/4 NOV14 HI 11.94 1/2
LOW 13.65 1/2 LOW 11.67 3/4
CLOSE13.87 Down 26 CLOSE 11.76 1/4 Down 13 1/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +MAY1+MAY1+MAY14
CK Low 1.35 15.22 559.240.74 12.50 459.39
CK High 1.48 15.35 564.020.85 12.61 463.43
CK Average 1.42 -0.1415.29 561.750.80 -0.5512.56 461.47
Essex Cty 1.56 15.43 566.960.93 12.69 466.37
Mdsx Low 1.43 15.30 562.180.72 12.48 458.65
Mdsx High 1.50 15.37 564.750.80 12.56 461.59
Mdsx Average 1.47 -0.0915.34 563.460.76 -0.5912.52 460.12
Hensall 1.50 15.37 564.750.80 12.56 461.59
Bruce 1.50 15.37 564.750.80 12.56 461.59
Putnam N/A 0.65 12.41 456.08
Burford 1.46 15.33 563.280.75 12.51 459.76
Port Perry 1.43 15.30 562.180.72 12.48 458.65
Norfolk 1.51 15.38 565.120.49 12.25 450.20
Palmerston 1.50 15.37 564.750.80 12.56 461.59
Varna 1.50 15.37 564.750.80 12.56 461.59
Trenton 1.35 15.22 559.240.75 12.51 459.76
Winchester 1.40 15.27 561.080.95 12.71 467.10
North Gower 1.39 15.26 560.710.98 12.74 468.21
Huron FOB 1.60 15.47 568.430.90 12.66 465.27
Kent FOB 1.48 15.35 564.020.84 12.60 463.06
Lambton FOB 1.48 15.35 564.020.84 12.60 463.06
Middlesex FOB1.55 1.60 1.68 N/A 15.42 566.590.89 12.65 464.90
PROCESSORS
Hamilton 1.92 1.98 2.06 N/A 15.79 580.181.24 13.00 477.76
Windsor 1.79 1.74 N/A N/A 15.66 575.411.16 12.92 474.82
Winchester N/A N/A
TRANSFER
Hamilton 1.93 N/A N/A N/A 15.80 580.551.27 13.03 478.86
Pt. Stanley N/A N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC 1.65 15.52 570.261.60 13.36 490.99
Toledo El. 0.13 14.00 514.54-0.31 11.45 420.73
Bank of Canada Noon exchange rate was 1.1132 up 0.0047
Chicago wheat closed higher.
MAY14 HI 6.84 1/2 JUL14 HI 6.89
LOW 6.52 LOW 6.57 1/2
CLOSE 6.83 3/4 Up 24 3/4 CLOSE 6.88 1/4 Up 24
Minni wheat closed moderately higher to higher.
MAY14 HI 7.34 1/4 SEP14 HI 7.29 1/2
LOW 7.01 LOW 7.03
CLOSE 7.30 3/4 Up 23 3/4 CLOSE 7.27 Up 17 1/2
GFO Cash Wheat Prices - DEL Terminal
Current Crop 13 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.49 0.82 0.38 -0.07
CAD $/bu 7.33 7.66 7.22 7.24
CAD $/tonne 269.21 281.47 265.13 265.94
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 0.20 -0.15 N/A
London 0.43 0.59 0.20 N/A 0.21 0.15 -0.18 N/A
Hensall 0.45 N/A 0.20 N/A 0.15 N/A -0.20 N/A
Trenton N/A N/A N/A N/A N/A N/A -0.10 N/A
Winchester N/A N/A N/A N/A N/A N/A N/A N/A
Essex N/A N/A 0.23 N/A N/A N/A -0.08 N/A
Norwich 0.45 N/A 0.20 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 0.45 N/A 0.20 N/A 0.15 N/A -0.20 N/A
Chatham N/A 0.53 0.23 N/A N/A N/A -0.15 N/A
Brigden N/A 0.53 0.23 N/A N/A N/A -0.15 N/A
Palmerston N/A 0.78 0.23 0.46 N/A 0.34 -0.07 0.09
Varna 0.45 0.60 0.20 N/A 0.15 0.15 -0.20 N/A
Mitchell 0.45 0.70 0.20 N/A 0.15 0.15 -0.20 N/A
Thornton N/A N/A N/A -0.18 N/A N/A N/A N/A
North Gower N/A N/A N/A -0.20 N/A N/A N/A -0.20
TERMINAL
Sarnia N/A N/A N/A N/A N/A N/A N/A N/A
Hamilton N/A N/A 0.65 N/A N/A N/A 0.20 N/A
Pt. Stanley N/A N/A N/A N/A N/A N/A N/A N/A
PROCESSORS
Toledo FM 1.43N/A 0.93N/A 1.46N/A 0.90N/A
Toledo El. 6.76US 7.52CA 6.85US 7.64CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 14 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.34 0.57 0.12 0.05
CAD $/bu 7.23 7.45 7.00 7.32
CAD $/tonne 265.48 273.67 257.29 269.07
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
Bayport Wheat 290.00
Bayport Oats -
Bayport Barley 270.00
FOB Hm Soymeal 599.12 - 615.65
DDG's FOB Srn & Aylm 260.00
Wednesday March 12, 2014
Commodity Period Price Weekly Movement
Corn CBOT May 4.88 ½ ↑ 6 ½ cents
Soybeans CBOT May 13.87 ↓ 33 cents
Wheat CBOT May 6.83 ¾ ↑ 41 ¼ cents
Wheat Minn. May 7.30 ¾ ↑ 42 cents
Wheat Kansas May 7.46 ↑ 36 ½ cents
Canadian $ March .8999 ↓ 29 points
CORN:
The Crimea region continues to drive commodity markets this week. A record of more than 16,000 call options changed hands last week as prices for bullish contracts rose to a three-year high compared with puts, according to data compiled by Bloomberg. U.S. corn futures traded reached a six-month high last week triggering speculation that demand for American exports will increase if Ukraine’s supplies become threatened.
The return of rain to corn-growing areas of Brazil is threatening to cut output after dryness earlier this year delayed planting of the country’s second annual crop. While dryness in most producing areas delayed planting, the return of rain compounded with the lack of sunshine is slowing crop. Too much rain in Mato Grosso, the biggest producing state, meant growers couldn’t harvest their soybeans in time, which postponed replanting of fields with corn.
SOYBEANS:
Soybeans futures have declined on continued speculation that a rally since the beginning of February may curb demand and China may cancel more purchases. As of Feb. 27, China imported 25.5 million tonnes of U.S. beans since the beginning of September, according to USDA data. There is also some speculation that China may also have cancelled more than 500,000 tonnes of Brazilian soybeans.
The USDA lowered its forecast for U.S. soybean stockpiles to 145 million bushels from a previous estimate of 150 million bushels, compared to expectations for a decline to 141 million bushels. The agency said soybean production in Brazil will total 88.5 million metric tonnes in the current market season, down from 90 million tons forecast last month. Analysts were looking for a cut to 88.1 million tonnes.
WHEAT:
International grain traders are looking at French wheat as a possible replacement for Ukrainian supplies, should shipments get held up by political turmoil over Russia's moves in Crimea. Most of the spring grain area in Crimea is unlikely to be planted this year due to the geopolitical tensions over the region, Ukraine's agriculture minister said earlier this week. While the Black Sea peninsula is not a primary growing area, the threat of wider disruptions worry the market.
The US harvest of soft red winter wheat will be down by 23% from last year’s total. The North American Millers Association forecast this year's US soft red winter wheat harvest at 437.0m bushels, down from the 564.9m bushels produced in 2013. The decline contrasts with a small rise in production, approximately 9% from last year, of soft white winter wheat.
2013 contract prices for March 12, at the market close, are as follows:
SWW at $268.96 per tonne ($7.32/bu.), SRW at $264.88 per tonne ($7.21/bu.), HRW at $281.21 per tonne ($7.65/bu.), and HRS at $265.70 per tonne ($7.23/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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