[Farmmarketnews] Thursday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Thu Dec 17 15:45:09 EST 2015
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, December 17
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.397 up 0.0165
Chicago corn closed slightly to moderately higher.
MAR16 HI 3.75 DEC16 HI 3.97 1/4
LOW 3.62 1/2 LOW 3.85 3/4
CLOSE3.74 1/4 Up 4 1/2 CLOSE 3.96 1/2 Up 5 1/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +MAR16+MAR16+MAY16
CK Low 0.90 4.64 182.77 0.85 4.82 189.56
CK High 0.90 4.64 182.77 0.90 4.87 191.53
CK Avg 0.90 -0.57 4.64 182.77 0.88 -0.68 4.85 190.87
Essex Cty 0.90 4.64 182.77 0.85 4.82 189.56
Mdsx Low 0.90 4.64 182.77 0.90 4.87 191.53
Mdsx High 0.90 4.64 182.77 0.90 4.87 191.53
Mdsx Avg 0.90 -0.57 4.64 182.77 0.90 -0.67 4.87 191.53
Hensall 0.93 4.67 183.75 0.90 4.87 191.53
Bruce 0.90 4.64 182.77 0.90 4.87 191.53
Putnam 0.85 4.59 180.80 0.85 4.82 189.56
Burford 0.90 4.64 182.77 0.90 4.87 191.53
Port Perry 0.90 4.64 182.77 0.90 4.87 191.53
Norfolk 0.90 4.64 182.77 0.90 4.87 191.53
Palmerston 0.85 4.59 180.80 0.85 4.82 189.56
Varna 0.95 4.69 184.74 0.90 4.87 191.53
Trenton 0.85 4.59 180.80 0.85 4.82 189.56
Winchester 0.90 4.64 182.77 0.95 4.92 193.49
North Gower 0.97 4.71 185.52 0.99 4.96 195.07
Huron FOB 1.20 4.94 194.58 0.95 4.92 193.49
Kent FOB 0.90 4.64 182.77 0.90 4.87 191.53
Lamb FOB 0.90 4.64 182.77 0.90 4.87 191.53
Mdsx FOB 0.90 0.95 0.95N/A 4.64 182.77 0.90 4.87 191.53
FOB SW Que N/A N/A
Track 1.38 5.12 201.47N/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 1.25 1.25 1.30 1.05 5.02 197.43
Sarn-Eth N/A N/A 1.38 1.38 N/A
Cllngwd-Eth N/A N/A N/A N/A N/A*
London-Ing N/A N/A N/A N/A 1.15 5.12 201.37
Pt.Colb-Ing N/A N/A N/A N/A N/A
Cardnl-Ing N/A N/A N/A N/A 1.15 5.12 201.37
W O Feed 1.45 0.90 5.19 204.42
US Rep 1.80 1.25 5.54 218.20
Toledo El. 0.13 3.87 152.27 -0.32 3.64 143.46
TRANSFER
Sarnia N/A N/A
Pt. Stanley N/A N/A
Hamilton N/A N/A
MID SD CRN 0.90 4.64 1/4
HI SD CRN 0.90 4.64 1/4
*Wet Bid
Bank of Canada Noon exchange rate was 1.397 up 0.0165
Chicago soybeans closed moderately higher.
JAN16 HI 8.78 1/4 NOV16 HI 8.95 1/4
LOW 8.54 LOW 8.70
CLOSE8.77 Up 14 1/2 CLOSE 8.94 Up 14 3/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +JAN1+MAR1+MAY16
CK Low 2.75 11.52 423.292.38 11.32 415.94
CK High 2.95 11.72 430.642.60 11.54 424.02
CK Average 2.86 -0.6011.63 427.152.52 -1.0211.46 421.02
Essex Cty 2.90 11.67 428.802.55 11.49 422.19
Mdsx Low 2.76 11.53 423.652.46 11.40 418.88
Mdsx High 2.95 11.72 430.642.60 11.54 424.02
Mdsx Average 2.86 -0.6011.63 427.152.53 -1.0011.47 421.45
Hensall 2.88 11.65 427.882.55 11.49 422.19
Bruce 2.85 11.62 426.962.50 11.44 420.35
Putnam 2.80 11.57 425.122.45 11.39 418.51
Burford 2.79 11.56 424.762.49 11.43 419.98
Port Perry 2.73 11.50 422.552.43 11.37 417.78
Norfolk 2.80 11.57 425.122.50 11.44 420.35
Palmerston 2.80 11.57 425.122.50 11.44 420.35
Varna 2.80 11.57 425.122.50 11.44 420.35
Trenton 2.75 11.52 423.292.40 11.34 416.67
Winchester 2.52 11.29 414.842.52 11.46 421.08
North Gower 2.55 11.32 415.942.52 11.46 421.08
Huron FOB 2.95 11.72 430.642.60 11.54 424.02
Kent FOB 2.80 11.57 425.122.50 11.44 420.35
Lambton FOB 2.80 11.57 425.122.50 11.44 420.35
Middlesex FOB2.93 3.00 3.00 N/A 11.70 429.902.64 11.58 425.49
PROCESSORS
Hamilton 3.40 3.40 3.46 N/A 12.17 447.173.10 12.04 442.39
Windsor N/A N/A N/A N/A N/A
Winchester N/A N/A
TRANSFER
Hamilton N/A N/A
Pt. Stanley N/A N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC N/A N/A
Toledo El. -0.25 8.52 313.02-0.39 8.55 314.13
Bank of Canada Noon exchange rate was 1.397 up 0.0165
Chicago wheat closed slightly higher.
MAR16 HI 4.88 1/4 JUL16 HI 5.00 1/4
LOW 4.72 1/4 LOW 4.85 1/4
CLOSE 4.84 Up 1/2 CLOSE 4.97 1/4 Up 1 3/4
Minni wheat closed slightly higher.
MAR16 HI 5.12 SEP16 HI 5.41 3/4
LOW 5.00 1/2 LOW 5.31 1/2
CLOSE 5.08 Up 2 1/4 CLOSE 5.38 1/4 Up 2 1/2
GFO Cash Wheat Prices - DEL Terminal
Current Crop 15 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 3.86 1.35 1.35 1.03
CAD $/bu 8.70 6.19 6.19 6.11
CAD $/tonne 319.60 227.41 227.41 224.33
Direct MarkHarvest 2015 Harvest 2016
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 1.05 N/A N/A 1.00 0.60 N/A
London 3.83 0.99 1.12 N/A 1.68 1.06 0.64 N/A
Hensall 3.60 N/A 1.20 N/A 1.30 N/A 0.60 N/A
Trenton N/A N/A N/A N/A N/A N/A 0.40 N/A
Winchester N/A N/A N/A N/A N/A N/A N/A N/A
Essex N/A N/A 1.05 N/A N/A N/A 0.70 N/A
Norwich 3.60 N/A 1.20 N/A 1.40 N/A 0.60 N/A
Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A
Kent Bridge 3.60 N/A 0.50 N/A 1.40 N/A 0.65 N/A
Chatham N/A 0.95 0.55 N/A N/A 0.90 0.65 N/A
Brigden N/A N/A 0.55 N/A N/A N/A 0.65 N/A
Palmerston N/A 0.90 1.20 0.70 N/A 0.85 0.60 0.60
Varna 3.60 1.05 1.25 N/A 1.30 0.90 0.60 N/A
Mitchell 3.60 0.90 1.20 N/A 1.30 0.90 0.60 N/A
Thornton N/A N/A N/A 0.75 N/A N/A N/A N/A
North Gower N/A 1.18 1.18 0.85 N/A 1.21 0.81 1.10
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 N/A N/A
Pt. Stanley N/A N/A N/A N/A N/A N/A N/A N/A
PROCESSORS
Toledo FM 4.69N/A 2.26N/A 3.01N/A 1.97N/A
Toledo El. 5.01US 6.98CA 4.94US 6.90CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 16 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.83 1.55 0.99 1.29
CAD $/bu 6.80 6.52 5.96 6.67
CAD $/tonne 249.80 239.55 219.04 245.19
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
Bayport Wheat -
Bayport Oats -
Bayport Barley -
FOB Hm Soymeal 471.69
DDG's FOB Srn & Aylm 220.00 - 230.00
Market Commentary for Wednesday, December 16, 2015 by Marty Hibbs, Grain Farmers of Ontario
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT Mar 3.70 ↓ 02 cents
Soybeans CBOT Mar 8.63 ↓ 17 cents
Wheat CBOT Mar 4.83 ↓ 07 cents
Wheat Minn. Mar 5.15 ↑ 05 cents
Wheat Kansas Mar 4.81 ↑ 01 cents
Chicago Oats Mar 2.23 ↓ 16 cents
Canadian $ Mar .7240 ↓ 1.20 points
CORN
On the charts: The trading range tightened even further this week as the March corn contract fluctuated between $3.70 support and $3.80 resistance. Major overhead resistance is around the $4 level and our support levels are still at $3.50 and again at $3.20. Daily indicators turned positive last week, but the weekly and long term trend remains negative.
SOYBEANS
On the charts: We have now switched our quotes to the March soybean contract. The overhead resistance at the $9.10 area proved to be a brick wall for the time being. We are now losing all of the gains seen since the key reversal on November 23 and it looks like we should be re-testing the recent low of $8.45 - $8.50 which is now the main support. If this area fails, I am lost technically as there is not much support between there and $7.50, except maybe a pivot point around $7.75 on the long term charts.
WHEAT
On the charts: Like the corn, the March wheat contract was range-bound between $4.80 and $5. Short term movement looks rather dull, but looking at the monthly chart, there is a saucer bottom pattern that suggests we will see $15 wheat in the next three to five years. I know this doesn’t help anybody at the moment, but it is something to ponder if you are discouraged with our current prices. Current March prices are trading at their recent lows of $4.80 and the next support level is $4.50-60 on the March contract. The Canadian dollar weakness has been helpful with regard to our current prices this year, but it should be noted that there will come a point where the dollar will find support and reverse back towards the 75 - 80 cent level. All indicators remain negative, and the main trend is still down.
Grain Farmers of Ontario will be offering another series of marketing seminars across Ontario. This time we will be focusing on “Options” on Futures. The dates that we have confirmed so far include,
*New Liskeard, January 14; Belleville, January 26; Avonmore, January 27; Chatham, February 9; Stratford, February 10; London, February 11; and Brantford, February 25.
If you would like to attend, go online at www.gfo.ca/seminars; phone Marty Hibbs at 519-767-4123; or email mhibbs at gfo.ca. Seminars are limited to 25 participants per location.
* Futures seminar
HARVEST 2016 CROP CASH PRICES AS OF CLOSE ON DECEMBER 16, 2015
SWW @ $246.02/MT ($6.70/bu), HRW @ $235.88/MT ($6.42/bu),
HRS @ $241.20/MT ($6.56/bu), SRW @ $215.62/MT ($5.87/bu).
--
Blair Andrews
Editor, AgriLink and Farm Market News
University of Guelph, Ridgetown Campus
Tel. 519-674-1500 x 63577
Fax. 519-674-1530
Click on this link: farmmarketnews-unsubscribe at list.gfo.ca to unsubscribe from this report.
This Farm Market News product is sponsored by:
Grain Farmers of Ontario
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