[Farmmarketnews] Wednesday Onario Commodity Report
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Oct 22 15:44:36 EDT 2014
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, October 22
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.1229 up 0.0010
Chicago corn closed slightly lower.
DEC14 HI 3.61 DEC15 HI 4.05 1/2
LOW 3.52 1/4 LOW 3.98 1/4
CLOSE3.53 Down 3 CLOSE 3.99 Down 2 1/2
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +DEC14+MAR15+MAR15
CK Low 0.30 3.83 150.78 -0.10 3.89 153.14
CK High 0.35 3.88 152.75 -0.10 3.89 153.14
CK Avg 0.33 -0.11 3.86 152.09 -0.10 -0.60 3.89 153.14
Essex Cty 0.40 3.93 154.72 0.00 3.99 157.08
Mdsx Low 0.35 3.88 152.75 -0.10 3.89 153.14
Mdsx High 0.35 3.88 152.75 -0.10 3.89 153.14
Mdsx Avg 0.35 -0.09 3.88 152.75 -0.10 -0.60 3.89 153.14
Hensall 0.35 3.88 152.75 -0.08 3.92 154.13
Bruce 0.35 3.88 152.75 -0.10 3.89 153.14
Putnam 0.35 3.88 152.75 -0.10 3.89 153.14
Burford 0.35 3.88 152.75 -0.10 3.89 153.14
Port Perry 0.35 3.88 152.75 -0.10 3.89 153.14
Norfolk 0.35 3.88 152.75 -0.10 3.89 153.14
Palmerston 0.35 3.88 152.75 -0.10 3.89 153.14
Varna 0.35 3.88 152.75 -0.05 3.94 155.11
Trenton 0.35 3.88 152.75 -0.10 3.89 153.14
Winchester 0.65 4.18 164.56 0.05 4.04 159.05
North Gower 1.00 4.53 178.34 -0.05 3.94 155.11
Huron FOB 0.30 3.83 150.78N/A
Kent FOB 0.35 3.88 152.75 -0.10 3.89 153.14
Lamb FOB 0.35 3.88 152.75 -0.10 3.89 153.14
Mdsx FOB 0.75N/A N/A N/A 4.28 168.50N/A
FOB SW Que 0.96 4.49 176.76N/A
Track 1.10 4.63 182.28N/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 0.30 0.30 0.30 0.35 3.83 150.78 N/A
Sarn-Eth N/A 0.55 0.50 0.50 N/A
Cllngwd-Eth N/A N/A N/A N/A N/A*
London-Ing 1.30 1.20 0.50 0.60 4.83 190.15N/A
Pt.Colb-Ing 1.35 1.30 0.22 0.65 4.88 192.12N/A
Cardnl-Ing N/A 0.75 0.60 0.70 N/A
W O Feed 1.45 1.31 4.98 196.05
US Rep 1.40 1.26 4.93 194.09
Toledo El. -0.19 3.34 131.44 -0.48 3.51 138.04
TRANSFER
Sarnia N/A N/A
Pt. Stanley N/A N/A
Hamilton 0.43 3.96155 8/9 0.18 4.17164 1/6
MID SD CRN 0.32 1/2 3.85 1/2
HI SD CRN 0.35 3.88
*Wet Bid
Bank of Canada Noon exchange rate was 1.1229 up 0.0010
Chicago soybeans closed slightly lower.
NOV14 HI 9.82 1/2 NOV15 HI 9.90
LOW 9.60 1/4 LOW 9.71 3/4
CLOSE9.62 3/4 Down 1 1/2 CLOSE 9.74 1/4 Down 1 1/2
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +NOV1+JAN1+JAN15
CK Low 0.55 10.18 373.960.30 10.04 369.00
CK High 0.60 10.23 375.800.40 10.14 372.67
CK Average 0.59 -0.6110.22 375.370.34 -0.8810.08 370.41
Essex Cty 0.71 10.34 379.840.47 10.21 375.25
Mdsx Low 0.58 10.21 375.060.35 10.09 370.84
Mdsx High 0.60 10.23 375.800.36 10.10 371.20
Mdsx Average 0.59 -0.6110.22 375.430.36 -0.8610.10 371.02
Hensall 0.58 10.20 374.880.33 10.07 369.92
Bruce 0.60 10.23 375.800.35 10.09 370.84
Putnam 0.50 10.13 372.120.35 10.09 370.84
Burford 0.62 10.25 376.530.39 10.13 372.31
Port Perry 0.58 10.21 375.060.36 10.10 371.20
Norfolk 0.58 10.21 375.060.30 10.04 369.00
Palmerston 0.60 10.23 375.800.30 10.04 369.00
Varna 0.55 10.18 373.960.30 10.04 369.00
Trenton 0.60 10.23 375.800.30 10.04 369.00
Winchester 1.15 10.78 396.010.80 10.54 387.37
North Gower 1.09 10.72 393.800.71 10.45 384.06
Huron FOB 0.60 10.23 375.80 N/A
Kent FOB 0.58 10.21 375.060.30 10.04 369.00
Lambton FOB 0.58 10.21 375.060.30 10.04 369.00
Middlesex FOB0.78 N/A N/A N/A 10.41 382.410.39 10.13 372.31
PROCESSORS
Hamilton 1.08 1.09 1.11 1.18 10.71 393.430.79 10.53 387.00
Windsor 0.94 0.88 1.06 1.18 10.57 388.290.70 10.44 383.70
Winchester N/A N/A
TRANSFER
Hamilton 1.05 N/A N/A N/A 10.68 392.330.77 10.51 386.27
Pt. Stanley N/A N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC 1.80 11.43 419.89 N/A
Toledo El. -0.24 9.39 345.07-0.43 9.32 342.27
Bank of Canada Noon exchange rate was 1.1229 up 0.0010
Chicago wheat closed slightly higher.
DEC14 HI 5.28 3/4 JUL15 HI 5.56
LOW 5.16 LOW 5.44 1/2
CLOSE 5.22 1/4 Up 3 CLOSE 5.49 3/4 Up 2 1/2
Minni wheat closed slightly lower.
DEC14 HI 5.77 3/4 JUL15 HI 6.00 3/4
LOW 5.66 1/4 LOW 5.91 1/2
CLOSE 5.68 3/4 Down 1/4 CLOSE 5.93 1/2 Down 1/4
GFO Cash Wheat Prices - DEL Terminal
Current Crop 14 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.77 0.88 0.37 0.20
CAD $/bu 5.99 6.10 5.59 5.89
CAD $/tonne 220.01 224.15 205.54 216.50
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 N/A 0.05 N/A N/A N/A -0.20 N/A
London 0.94 0.66 0.04 N/A 0.29 0.58 -0.27 N/A
Hensall 1.15 N/A 0.10 N/A 0.35 N/A -0.30 N/A
Trenton N/A N/A -0.20 N/A N/A N/A -0.05 N/A
Winchester N/A N/A N/A 0.10 N/A N/A N/A N/A
Essex N/A N/A -0.11 N/A N/A N/A -0.22 N/A
Norwich 1.15 N/A 0.10 N/A 0.35 N/A -0.30 N/A
Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A
Kent Bridge 1.15 N/A 0.10 N/A 0.35 N/A -0.30 N/A
Chatham N/A 0.60 0.05 N/A N/A 0.60 -0.22 N/A
Brigden N/A 0.60 0.05 N/A N/A 0.60 -0.22 N/A
Palmerston N/A 0.81 0.12 0.20 N/A 0.57 -0.32 N/A
Varna 1.15 0.80 0.10 N/A 0.35 0.60 -0.30 N/A
Mitchell 1.15 0.80 0.10 N/A 0.35 0.60 -0.30 N/A
Thornton N/A N/A N/A -0.21 N/A N/A N/A N/A
North Gower N/A N/A N/A 0.23 N/A N/A N/A -0.14
TERMINAL
Sarnia N/A N/A N/A N/A N/A N/A N/A N/A
Hamilton N/A N/A 0.42 N/A N/A N/A 0.15 N/A
Pt. Stanley N/A N/A N/A N/A N/A N/A N/A N/A
PROCESSORS
Toledo FM 2.34N/A 0.88N/A N/A N/A 0.91N/A
Toledo El. N/A 5.32US 5.98CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 15 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.46 0.86 0.01 -0.16
CAD $/bu 5.96 6.35 5.51 5.78
CAD $/tonne 218.98 233.45 202.44 212.26
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
Bayport Wheat 285.00 - 300.00
Bayport Oats 315.00
Bayport Barley 270.00
FOB Hm Soymeal 526.91
DDG's FOB Srn & Aylm 125.00
Wednesday, October 22, 2014
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT Dec 3.53 ↑ 6 cents
Soybeans CBOT Nov 9.61 ↑ 9 cents
Wheat CBOT Dec 5.22 ↑ 16 cents
Wheat Minn. Dec 5.70 ↑ 5 cents
Wheat Kansas Dec 6.05 ↑ 12 cents
Canadian $ Dec 0.8898 ↑ 54 points
CORN:
The U.S. corn harvest advanced to 31% as of Sunday and is behind the five-year average of 53%. Crop development and harvest have been delayed by a cool summer and fall rains. A year ago, corn was 38% harvested at this time. The corn ratings are unchanged from a week ago at 74% good to excellent.
On the charts, like the wheat, the buy signal on October 6 has proven to be the bottom for the time being. We are stuck in our projected resistance levels of $3.50-$3.60. The next major overhead resistance is around the $3.70-$3.80 level based on the December chart. Short term indicators remain positive but the main trend is down.
SOYBEANS:
Oil World cut its own forecast for Brazil's soybean output by three million (m) tonnes. This is in contrast from other analysts predicting an increase of up to 12m tonnes. The reason cited was a critical lack of rainfall. The analysis group lowered its forecast to 89m tonnes - its estimate for Brazil's soybean output in 2014-15.
On the charts, the November contract is still in a strong downtrend; although as of this writing we are trading at $9.70 and our target resistance area of $10.00-$10.50 basis the November contract is within striking distance. Main trend is still down.
WHEAT:
For those looking for a positive spin on the upcoming year, Russia's autumn-sown grains crops are heading into winter with worse conditions than five years ago, when losses from cold weather and summer drought sent wheat production tumbling.
In fact, winter grains appeared in even worse condition than 2009, ahead of the 2010 harvest which witnessed a 33% slump in Russian wheat production. That production decline, which prompted Russia to impose a grain export ban, sent world wheat prices soaring.
On the charts, the buy signal from October 6, which caused prices to rally, is still intact. The $5.15-$5.25 price level has proven, as expected, to be quite resistant. If we manage to close above this area, our next major resistance is $5.40-$5.65. The short term indicators remain positive but the main trend is still down.
Marty Hibbs, Grain Farmers of Ontario
2014 harvest prices as of the close of October 22 are as follows:
SWW at $219.72/mt ($5.98/bu), HRW at $223.85/mt ($6.09/bu),
HRS at $216.41/mt ($5.89/bu), SRW at $205.26/mt ($5.59/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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