[Farmmarketnews] Wednesday Ontario Commodity Report and Todd Austin Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Jul 15 15:14:33 EDT 2015
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, July 15
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.2937 up 0.0189
Chicago corn closed slightly higher.
SEP15 HI 4.31 3/4 DEC15 HI 4.42 3/4
LOW 4.21 LOW 4.32
CLOSE4.29 1/2 Up 1 1/4 CLOSE 4.40 1/4 Up 1 1/2
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +SEP15+DEC15+DEC15
CK Low 0.55 4.85 190.74 0.40 4.80 189.07
CK High 0.55 4.85 190.74 0.45 4.85 191.03
CK Avg 0.55 -0.71 4.85 190.74 0.43 -0.87 4.83 190.05
Essex Cty N/A N/A
Mdsx Low 0.55 4.85 190.74 0.45 4.85 191.03
Mdsx High 0.55 4.85 190.74 0.45 4.85 191.03
Mdsx Avg 0.55 -0.71 4.85 190.74 0.45 -0.85 4.85 191.03
Hensall 0.55 4.85 190.74 0.45 4.85 191.03
Bruce 0.55 4.85 190.74 0.40 4.80 189.07
Putnam 0.55 4.85 190.74 0.40 4.80 189.07
Burford 0.55 4.85 190.74 0.45 4.85 191.03
Port Perry 0.65 4.95 194.68 0.45 4.85 191.03
Norfolk 0.55 4.85 190.74 0.45 4.85 191.03
Palmerston 0.55 4.85 190.74 0.45 4.85 191.03
Varna 0.55 4.85 190.74 0.40 4.80 189.07
Trenton 0.80 5.10 200.58 0.50 4.90 193.00
Winchester 1.05 5.35 210.42 0.90 5.30 208.75
North Gower 1.15 5.45 214.36 0.90 5.30 208.75
Huron FOB 0.83 5.13 201.76 0.50 4.90 193.00
Kent FOB 0.55 4.85 190.74 0.45 4.85 191.03
Lamb FOB 0.55 4.85 190.74 0.45 4.85 191.03
Mdsx FOB 0.60 0.60N/A N/A 4.90 192.71 0.45 4.85 191.03
FOB SW Que N/A N/A
Track 0.95 5.25 206.49N/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 N/A N/A N/A 0.60 5.00 196.94
Sarn-Eth 0.80 0.80 0.85N/A 5.10 200.58N/A
Cllngwd-Eth N/A N/A N/A N/A N/A*
London-Ing N/A N/A 1.15 1.20 0.80 5.20 204.81
Pt.Colb-Ing N/A N/A N/A 1.00 0.75 5.15 202.84
Cardnl-Ing N/A N/A 1.30 1.40 1.00 5.40 212.69
W O Feed 1.10 0.72 5.40 212.39
US Rep 1.50 1.12 5.80 228.14
Toledo El. -0.04 4.26 167.56 -0.34 4.07 160.07
TRANSFER
Sarnia N/A N/A
Pt. Stanley N/A N/A
Hamilton N/A N/A
MID SD CRN 0.42 1/2 4.82 3/4
HI SD CRN 0.45 4.85 1/4
*Wet Bid
Bank of Canada Noon exchange rate was 1.2937 up 0.0189
Chicago soybeans closed slightly lower.
AUG15 HI 10.35 NOV15 HI 10.27
LOW 10.14 1/4 LOW 10.05 1/2
CLOSE10.25 Down 8 1/2 CLOSE 10.16 Down 9
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +AUG1+NOV1+NOV15
CK Low 2.20 12.45 457.461.90 12.06 443.13
CK High 2.35 12.60 462.972.05 12.21 448.64
CK Average 2.28 -0.7412.53 460.341.99 -1.0012.15 446.37
Essex Cty N/A N/A
Mdsx Low 2.25 12.50 459.301.95 12.11 444.97
Mdsx High 2.29 12.54 460.772.01 12.17 447.17
Mdsx Average 2.27 -0.7512.52 460.031.98 -1.0112.14 446.07
Hensall 2.28 12.53 460.212.03 12.19 447.72
Bruce 2.25 12.50 459.301.95 12.11 444.97
Putnam 2.25 12.50 459.301.95 12.11 444.97
Burford 2.32 12.57 461.872.04 12.20 448.27
Port Perry 2.29 12.54 460.772.01 12.17 447.17
Norfolk 2.20 12.45 457.462.00 12.16 446.80
Palmerston 2.20 12.45 457.461.90 12.06 443.13
Varna 2.25 12.50 459.302.00 12.16 446.80
Trenton 2.25 12.50 459.301.95 12.11 444.97
Winchester 2.10 12.35 453.782.20 12.36 454.15
North Gower 1.78 12.03 442.032.25 12.41 455.99
Huron FOB 2.42 12.67 465.542.20 12.36 454.15
Kent FOB 2.25 12.50 459.302.00 12.16 446.80
Lambton FOB 2.25 12.50 459.302.00 12.16 446.80
Middlesex FOB2.21 2.40 2.50 N/A 12.46 457.832.31 12.47 458.19
PROCESSORS
Hamilton N/A 2.78 2.90 2.70 2.70 12.86 472.52
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. N/A -0.43 9.73 357.62
Bank of Canada Noon exchange rate was 1.2937 up 0.0189
Chicago wheat closed mixed.
SEP15 HI 5.69 3/4 JUL16 HI 5.85 3/4
LOW 5.58 1/2 LOW 5.75 3/4
CLOSE 5.66 3/4 Down 4 1/4 CLOSE 5.85 3/4 Up 3
Minni wheat closed slightly lower.
SEP15 HI 5.91 SEP16 HI 6.26
LOW 5.81 3/4 LOW 6.26
CLOSE 5.89 1/2 Down 1 3/4 CLOSE 6.26 Down 1 3/4
GFO Cash Wheat Prices - DEL Terminal
Current Crop 15 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 3.22 1.86 1.15 1.28
CAD $/bu 8.89 7.53 6.82 7.18
CAD $/tonne 326.57 276.64 250.48 263.68
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 1.60 0.95 N/A N/A 1.35 0.60 N/A
London 3.31 1.57 0.92 N/A 1.61 1.35 0.57 N/A
Hensall 3.20 N/A 0.95 N/A 1.75 N/A 0.55 N/A
Trenton N/A N/A 0.95 N/A N/A N/A 0.60 N/A
Winchester N/A N/A N/A N/A N/A N/A N/A N/A
Essex N/A N/A N/A N/A N/A N/A N/A N/A
Norwich 3.45 N/A 0.95 N/A 1.75 N/A 0.55 N/A
Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A
Kent Bridge 3.45 N/A 0.95 N/A 1.75 N/A 0.55 N/A
Chatham N/A 1.60 0.95 N/A N/A 1.35 0.55 N/A
Brigden N/A N/A 0.95 N/A N/A N/A 0.55 N/A
Palmerston N/A 1.65 0.95 0.60 N/A 1.40 0.55 0.20
Varna 3.25 1.50 0.95 N/A 1.80 1.30 0.60 N/A
Mitchell 3.20 1.70 0.95 N/A 1.75 1.30 0.55 N/A
Thornton N/A N/A N/A 1.10 N/A N/A N/A N/A
North Gower N/A 1.77 1.06 1.18 N/A N/A N/A N/A
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 4.90N/A 2.06N/A 5.09N/A 1.98N/A
Toledo El. 5.64US 7.30CA 5.68US 7.35CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 16 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.72 1.85 0.95 1.32
CAD $/bu 7.58 7.71 6.80 7.58
CAD $/tonne 278.54 283.29 250.01 278.66
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
Bayport Wheat 290.00 - 320.00
Bayport Oats 270.00
Bayport Barley 275.00
FOB Hm Soymeal 559.10 - 571.23
DDG's FOB Srn & Aylm 205.00
_____________________________________________________________________________________
Wednesday July 15, 2015
Commodity Period Price Weekly Movement
Corn CBOT Sep 4.29 ½ ↑ 5 cents
Soybeans CBOT Aug 10.25 ↑ 28 ¼ cents
Wheat CBOT Sep 5.66 ¾ ↓ 10 ¾ cents
Wheat Minn. Sep 5.86 ½ ↓ 32 ½ cents
Wheat Kansas Sep 5.59 ↓ 24 cents
Oats CBOT Sep 2.55 ½ ↑ ½ cents
Canadian $ Sep 0.7726 ↓ 115 points
CORN
Recent corn ratings from the week ending July 12 indicate that 69% of the US crop are good to excellent, unchanged from last week but down from the previous year of 76 percent. Percent silking is at 27%, down from last year’s 31% and the five year average of 34%.
Corn futures rallied after the USDA trimmed their estimate of this year’s production. The report indicates that U.S. farmers planted fewer acres than originally expected but kept yields unchanged from previous reports. It will be interesting to see what the USDA does with yield expectations in future reports. Following the report, favorable weather conditions and profit taking have tempered those rallies.
SOYBEANS
Soybean ratings for the week ending July 12 indicates the 62% of the U.S. crop is good to excellent, down 1 percent from last week, and down 10% from the previous year. The report also indicated that 38% of the soybean crop is blooming. These figures are up 1 percent from the five year average.
Unlike corn, The USDA increased their projection of soybean acres planted in their recent report, while again keeping yields unchanged from their previous report. They are reporting larger production numbers. However, lower stockpiles as carry-in from 2014 crop is lower that indicated from previous reports. Current demand has been increased as well.
WHEAT
Egypt bought wheat from Romania and Russia, as U.S. wheat values continue to be $30 to $40 per tonnes above Black Sea Values. On the domestic front, though, there are concerns with the U.S. soft red wheat quality.
The Ontario wheat harvest is expected to begin the week of July 20, as rain has delayed harvest in some areas. With the rain and recent humid weather there is a fear of fusarium in the wheat crop, though it is too early to know how widespread this will be. However, one should be mindful that the conditions for fusarium are present and manage accordingly.
2015 harvest prices for July 15, at the market close, are as follows:
SWW at $326.60 per tonne ($8.89/bu.), SRW at $250.51 per tonne ($6.82/bu.), HRW at $276.67 per tonne ($7.53/bu.), and HRS at $ 263.71per tonne ($7.18/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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