[Farmmarketnews] Wednesday Ontario Commodity Report and Todd Austin GFO Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Mar 26 15:55:56 EDT 2014
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, March 26
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.1143 down 0.0033
Chicago corn closed slightly lower.
MAY14 HI 4.87 3/4 DEC14 HI 4.86 1/2
LOW 4.82 1/2 LOW 4.82
CLOSE4.84 1/2 Down 2 CLOSE 4.84 Down 2 1/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +MAY14+JUL14+JUL14
CK Low -0.25 4.60 180.90 -0.25 4.59 180.70
CK High -0.20 4.65 182.87 -0.24 4.60 181.09
CK Avg -0.23 -0.78 4.61 181.55 -0.25 -0.80 4.59 180.77
Essex Cty -0.20 4.65 182.87 -0.25 4.59 180.70
Mdsx Low -0.25 4.60 180.90 -0.25 4.59 180.70
Mdsx High -0.25 4.60 180.90 -0.25 4.59 180.70
Mdsx Avg -0.25 -0.80 4.60 180.90 -0.25 -0.80 4.59 180.70
Hensall -0.25 4.60 180.90 -0.25 4.59 180.70
Bruce -0.25 4.60 180.90 -0.25 4.59 180.70
Putnam -0.25 4.60 180.90 -0.25 4.59 180.70
Burford -0.25 4.60 180.90 -0.25 4.59 180.70
Port Perry -0.30 4.55 178.93 -0.25 4.59 180.70
Norfolk -0.20 4.65 182.87 -0.24 4.60 181.09
Palmerston -0.35 4.50 176.96 -0.35 4.49 176.76
Varna -0.25 4.60 180.90 -0.25 4.59 180.70
Trenton -0.20 4.65 182.87 -0.25 4.59 180.70
Winchester -0.05 4.80 188.77 -0.05 4.79 188.57
North Gower 0.05 4.90 192.71 -0.10 4.74 186.61
Huron FOB -0.10 4.75 186.80 -0.15 4.69 184.64
Kent FOB -0.20 4.65 182.87 -0.24 4.60 181.09
Lamb FOB -0.20 4.65 182.87 -0.24 4.60 181.09
Mdsx FOB -0.20 -0.20 -0.20 -0.20 4.65 182.87 -0.25 4.59 180.70
FOB SW Que N/A 0.15 4.99 196.45
Track 0.13 4.97 195.66N/A
PROCESSORS
Chat-Eth N/A -0.20 -0.20 -0.20 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 N/A 0.05 0.00 0.00 N/A
Cllngwd-Eth N/A N/A N/A N/A N/A*
London-Ing 0.00 0.05 0.10 0.10 4.85 190.74 -0.15 4.69 184.64
Pt.Colb-Ing N/A 0.15 0.20 0.20 -0.10 4.74 186.61
Cardnl-Ing N/A 0.25 0.40 0.35 0.00 4.84 190.54
W O Feed 0.19 0.06 5.04 198.22
US Rep 0.72 0.59 5.57 219.08
Toledo El. -0.24 4.60 181.10 -0.37 4.47 176.08
TRANSFER
Sarnia N/A N/A
Pt. Stanley -0.20 4.65 182.87N/A
Hamilton 0.20 5.05198 3/5 0.07 4.91193 2/7
MID SD CRN -0.22 1/2 4.62
HI SD CRN -0.20 4.64 1/2
*Wet Bid
Bank of Canada Noon exchange rate was 1.1143 down 0.0033
Chicago soybeans closed slightly to moderately higher.
MAY14 HI 14.41 3/4 NOV14 HI 11.94
LOW 14.20 3/4 LOW 11.84 1/2
CLOSE14.40 Up 12 CLOSE 11.93 1/4 Up 4 1/2
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +MAY1+MAY1+MAY14
CK Low 1.59 15.99 587.530.94 12.87 472.98
CK High 1.70 16.10 591.571.10 13.03 478.86
CK Average 1.65 0.01 16.05 589.680.98 -0.3712.91 474.51
Essex Cty 1.71 16.11 591.941.06 12.99 477.39
Mdsx Low 1.59 15.99 587.530.90 12.83 471.51
Mdsx High 1.70 16.10 591.570.95 12.88 473.35
Mdsx Average 1.65 0.01 16.05 589.550.93 -0.4312.86 472.43
Hensall 1.68 16.08 590.660.95 12.88 473.35
Bruce 1.70 16.10 591.570.95 12.88 473.35
Putnam 1.70 16.10 591.570.95 12.88 473.35
Burford 1.62 16.02 588.630.93 12.86 472.62
Port Perry 1.59 15.99 587.530.90 12.83 471.51
Norfolk 1.70 16.10 591.570.94 12.87 472.98
Palmerston 1.70 16.10 591.570.95 12.88 473.35
Varna 1.70 16.10 591.570.95 12.88 473.35
Trenton 1.50 15.90 584.220.85 12.78 469.68
Winchester 1.47 15.87 583.121.02 12.95 475.92
North Gower 1.46 15.86 582.761.02 12.95 475.92
Huron FOB 1.95 16.35 600.761.05 12.98 477.03
Kent FOB 1.65 16.05 589.740.94 12.87 472.98
Lambton FOB 1.65 16.05 589.740.94 12.87 472.98
Middlesex FOB1.72 1.68 1.70 N/A 16.12 592.310.96 12.89 473.72
PROCESSORS
Hamilton 2.05 2.15 2.20 N/A 16.45 604.431.40 13.33 489.89
Windsor 1.94 1.80 1.72 N/A 16.34 600.391.29 13.22 485.84
Winchester N/A N/A
TRANSFER
Hamilton 2.13 N/A N/A N/A 16.53 607.371.36 13.29 488.42
Pt. Stanley N/A N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC 2.12 16.52 607.011.75 13.68 502.75
Toledo El. 0.13 14.53 534.02-0.31 11.62 426.99
Bank of Canada Noon exchange rate was 1.1143 down 0.0033
Chicago wheat closed moderately lower.
MAY14 HI 7.11 3/4 JUL14 HI 7.15 1/4
LOW 6.94 3/4 LOW 6.99 1/4
CLOSE 6.96 3/4 Down 11 1/2 CLOSE 7.01 1/4 Down 10 1/2
Minni wheat closed moderately lower.
MAY14 HI 7.65 SEP14 HI 7.63
LOW 7.45 LOW 7.47 1/4
CLOSE 7.46 3/4 Down 16 1/4 CLOSE 7.49 1/4 Down 11 3/4
GFO Cash Wheat Prices - DEL Terminal
Current Crop 13 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.51 0.85 0.40 -0.04
CAD $/bu 7.48 7.81 7.37 7.42
CAD $/tonne 274.83 287.10 270.74 272.79
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 -0.10 N/A
London 0.50 0.67 0.22 N/A 0.33 0.22 -0.11 N/A
Hensall 0.45 N/A 0.20 N/A 0.40 N/A -0.10 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 0.20 N/A N/A N/A -0.05 N/A
Norwich 0.45 N/A 0.20 N/A 0.40 N/A -0.10 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 0.40 N/A -0.10 N/A
Chatham N/A 0.51 0.22 N/A N/A N/A -0.10 N/A
Brigden N/A 0.51 0.22 N/A N/A N/A -0.10 N/A
Palmerston N/A 0.70 0.15 0.30 N/A 0.14 -0.27 -0.02
Varna 0.50 0.70 0.25 N/A 0.35 0.30 -0.05 N/A
Mitchell 0.45 0.75 0.20 N/A 0.40 0.25 -0.10 N/A
Thornton N/A N/A N/A -0.12 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 N/A 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 1.51N/A 1.01N/A 1.52N/A 0.91N/A
Toledo El. 6.89US 7.67CA 6.98US 7.77CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 14 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.35 0.57 0.13 0.13
CAD $/bu 7.36 7.59 7.14 7.62
CAD $/tonne 270.54 278.72 262.35 279.95
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
Bayport Wheat 290.00 - 295.00
Bayport Oats 325.00
Bayport Barley 275.00
FOB Hm Soymeal 642.77 - 651.59
DDG's FOB Srn & Aylm 270.00
______________________________________________________________________________
Wednesday March 26, 2014
Commodity Period Price Weekly Movement
Corn CBOT May 4.84½ ↓ 3¼ cents
Soybeans CBOT May 14.40 ↑ 8½ cents
Wheat CBOT May 6.96¾ ↓ 19 cents
Wheat Minn. May 7.46 ↓ 16 cents
Wheat Kansas May 7.71¼ ↓ 17 cents
Canadian $ March .89810 ↑ 151 points
CORN:
Corn futures continue to trade sideways as the market awaits the USDA’s Prospective Plantings report on March 31. Recent estimates by private companies indicate an expected acreage of 93 million acres, which is down from last year’s 95.4 million acres. Given the carry out of this past crop year, a decrease in acreage has been expected and talked about for some time.
China continues to turn away shipments of US corn containing a GMO event that has not been approved in China. Since November, China has rejected over 900,000 tonnes of US corn. China has been buying an increasing quantity of non-GMO corn from the Ukraine.
SOYBEANS:
Soybean acreage is expected to reach 81.2 million acres for 2014, according to Informa Economics. This represents an increase of 4.7 million acres from last year. Soybean acres have been expected to jump this year in hopes of replenishing carryout stocks in the US. The Prospective Plantings report on March 31 will provide insight as to what the USDA is anticipating for soybean acreage.
WHEAT:
The condition of winter wheat continues to decline in the US southern Plains due to a lack of rainfall; this is an increasingly significant issue as the wheat crop breaks dormancy. The proportion of wheat in Kansas rated good or excellent fell by 1 point to 33 percent in the week ending March 23. Concern over the wheat quality has kept futures prices strong.
2014 harvest prices for March 26, at the market close, are as follows:
SWW at $271.13 per tonne ($7.38 /bu.), SRW at $262.93 per tonne ($7.16 /bu.), HRW at $279.33 per tonne ($7.60 /bu.), and HRS at $280.56 per tonne ($7.64 /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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