[Farmmarketnews] Wednesday Ontario Commodity Report & Todd Austin GFO Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Jun 24 14:55:11 EDT 2015
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, June 24
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.2415 up 0.0088
Chicago corn closed slightly lower.
JUL15 HI 3.71 DEC15 HI 3.84 3/4
LOW 3.63 1/4 LOW 3.77 1/2
CLOSE3.66 1/2 Down 1 CLOSE 3.80 1/2 Down 3/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +SEP15+SEP15+DEC15
CK Low 0.50 4.17 163.97 0.20 4.01 157.67
CK High 0.55 4.22 165.94 0.25 4.06 159.64
CK Avg 0.51 -0.38 4.17 164.30 0.21 -0.71 4.02 158.06
Essex Cty 0.63 4.30 169.09 0.28 4.09 160.82
Mdsx Low 0.50 4.17 163.97 0.20 4.01 157.67
Mdsx High 0.50 4.17 163.97 0.30 4.11 161.61
Mdsx Avg 0.50 -0.38 4.17 163.97 0.25 -0.67 4.06 159.64
Hensall 0.50 4.17 163.97 0.23 4.03 158.65
Bruce 0.50 4.17 163.97 0.20 4.01 157.67
Putnam 0.50 4.17 163.97 0.20 4.01 157.67
Burford 0.50 4.17 163.97 0.20 4.01 157.67
Port Perry 0.60 4.27 167.91 0.25 4.06 159.64
Norfolk 0.50 4.17 163.97 0.20 4.01 157.67
Palmerston 0.55 4.22 165.94 0.20 4.01 157.67
Varna 0.50 4.17 163.97 0.25 4.06 159.64
Trenton 0.80 4.47 175.78 0.40 4.21 165.54
Winchester 1.10 4.77 187.59 0.90 4.71 185.23
North Gower 1.15 4.82 189.56 1.75 5.56 218.69
Huron FOB 0.60 4.27 167.91 0.25 4.06 159.64
Kent FOB 0.50 4.17 163.97 0.20 4.01 157.67
Lamb FOB 0.50 4.17 163.97 0.20 4.01 157.67
Mdsx FOB 0.50 0.50 0.50 0.50 4.17 163.97 0.20 4.01 157.67
FOB SW Que N/A N/A
Track 0.98 4.64 182.67N/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 0.45 4.26 167.51
Sarn-Eth 0.70 0.80 0.80 0.85 4.37 171.84N/A
Cllngwd-Eth N/A N/A N/A N/A N/A*
London-Ing N/A N/A 1.05 1.05 0.60 4.41 173.42
Pt.Colb-Ing N/A 1.05 1.05 1.05 0.60 4.41 173.42
Cardnl-Ing N/A N/A N/A 1.40 0.95 4.76 187.20
W O Feed 1.08 0.78 4.75 186.96
US Rep 1.25 0.95 4.92 193.49
Toledo El. -0.02 3.64 143.31 -0.37 3.43 135.13
TRANSFER
Sarnia N/A N/A
Pt. Stanley N/A N/A
Hamilton N/A N/A
MID SD CRN 0.22 1/2 4.03
HI SD CRN 0.25 4.05 1/2
*Wet Bid
Bank of Canada Noon exchange rate was 1.2415 up 0.0088
Chicago soybeans closed slightly lower.
JUL15 HI 9.90 1/2 NOV15 HI 9.65
LOW 9.79 LOW 9.52 3/4
CLOSE9.81 3/4 Down 5 3/4 CLOSE 9.56 Down 4 3/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +JUL1+AUG1+NOV15
CK Low 1.75 11.57 425.031.45 11.01 404.55
CK High 1.80 11.62 426.871.50 11.06 406.39
CK Average 1.78 -0.5911.60 426.141.46 -0.8511.02 404.92
Essex Cty 2.08 11.90 437.161.69 11.25 413.37
Mdsx Low 1.75 11.57 425.031.44 11.00 404.18
Mdsx High 1.78 11.60 426.141.45 11.01 404.55
Mdsx Average 1.77 -0.6111.58 425.581.45 -0.8611.01 404.36
Hensall 1.75 11.57 425.031.45 11.01 404.55
Bruce 1.75 11.57 425.031.45 11.01 404.55
Putnam 1.75 11.57 425.031.45 11.01 404.55
Burford 1.81 11.63 427.241.47 11.03 405.28
Port Perry 1.78 11.60 426.141.44 11.00 404.18
Norfolk 1.80 11.62 426.871.45 11.01 404.55
Palmerston 1.75 11.57 425.031.45 11.01 404.55
Varna 1.75 11.57 425.031.45 11.01 404.55
Trenton 1.65 11.47 421.361.35 10.91 400.87
Winchester 1.75 11.57 425.031.67 11.23 412.63
North Gower 1.61 11.43 419.891.74 11.30 415.20
Huron FOB 1.85 11.67 428.711.55 11.11 408.22
Kent FOB 1.80 11.62 426.871.45 11.01 404.55
Lambton FOB 1.80 11.62 426.871.45 11.01 404.55
Middlesex FOB1.92 2.06 2.27 N/A 11.74 431.281.70 11.26 413.73
PROCESSORS
Hamilton 2.30 2.43 2.65 N/A 12.12 445.242.08 11.64 427.70
Windsor 2.28 2.42 2.24 N/A 12.10 444.511.90 11.46 421.08
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. 0.09 9.90 363.92-0.41 9.15 336.22
Bank of Canada Noon exchange rate was 1.2415 up 0.0088
Chicago wheat closed slightly lower.
JUL15 HI 5.30 JUL15 HI 5.30
LOW 5.14 1/4 LOW 5.14 1/4
CLOSE 5.18 Down 3 1/2 CLOSE 5.18 Down 3 1/2
Minni wheat closed slightly to moderately lower.
JUL1515 HI 5.75 3/4 SEP15 HI 5.87 3/4
LOW 5.62 1/4 LOW 5.74 1/4
CLOSE 5.63 3/4 Down 6 CLOSE 5.75 3/4 Down 5 1/4
GFO Cash Wheat Prices - DEL Terminal
Current Crop 14 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 2.80 1.81 1.00 0.93
CAD $/bu 7.98 6.99 6.18 6.56
CAD $/tonne 293.31 256.82 227.17 241.19
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 N/A N/A N/A 1.35 0.70 N/A
London 2.83 1.46 0.72 N/A 2.85 1.48 0.70 N/A
Hensall 2.80 N/A 0.65 N/A 2.80 N/A 0.65 N/A
Trenton N/A N/A N/A N/A N/A N/A 0.55 N/A
Winchester N/A N/A N/A N/A N/A N/A N/A N/A
Essex N/A N/A 0.69 N/A N/A N/A 0.69 N/A
Norwich 2.80 N/A 0.65 N/A 3.10 N/A 0.75 N/A
Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A
Kent Bridge 2.80 N/A 0.65 N/A 3.10 N/A 0.65 N/A
Chatham N/A N/A N/A N/A N/A 1.35 0.65 N/A
Brigden N/A N/A N/A N/A N/A N/A 0.65 N/A
Palmerston N/A 1.35 0.60 0.40 N/A 1.50 0.65 0.50
Varna 2.70 1.30 0.65 N/A 2.70 1.35 0.65 N/A
Mitchell 2.80 1.60 0.65 N/A 2.80 1.35 0.65 N/A
Thornton N/A N/A N/A 0.55 N/A N/A N/A N/A
North Gower N/A N/A N/A N/A N/A N/A N/A 1.13
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 4.04N/A 1.50N/A N/A N/A 1.50N/A
Toledo El. 5.20US 6.46CA 5.25US 6.52CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 15 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 2.86 1.81 1.15 1.20
CAD $/bu 8.04 6.99 6.33 6.96
CAD $/tonne 295.59 256.82 232.64 255.79
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
Bayport Wheat 290.00
Bayport Oats 300.00
Bayport Barley 275.00
FOB Hm Soymeal 530.22 - 532.43
DDG's FOB Srn & Aylm 200.00 - 220.00
--
CORN
The United States Department of Agriculture (USDA) has pegged the corn progress for the week ending June 21, 71% good to excellent. This is down two percentage points from the previous week, as wet conditions in the U.S. have led to this decline. Ohio corn crop condition dropped 19 points from last week. Similar to conditions in parts of Ontario, there is standing water in fields which are concerning -especially if rain events continue.
USDA Stocks and acreage report is due on June 30 with eyes on third quarter feed usage and on planted acreage versus the intentions reported in the March report.
SOY
Similar to the corn condition, wet weather is affecting U.S. soybeans. The USDA’s soybeans ratings have fallen two percentage points to 65% good to excellent. This is well below the rating for this time last year, but is trending similar to the five year average.
There have been delays to finishing the crop in the U.S. as well. As of June 21 planting was at 90%, up slightly from the past week and behind the five year average by 5 points. Of the planted crop, 89% has emerged, which is slightly ahead of the five year average.
WHEAT
Wheat harvest continues in the U.S. albeit at a slower than hoped for pace due to rain events earlier this month in central Texas, Oklahoma, and southern Kansas. As of June 21, overall winter wheat harvest in the U.S. is sitting at 31%, up from 11% a week ago. U.S. spring wheat is rated as 71% good to excellent, up one point from the previous week.
The Wheat Quality Council begins its annual wheat tour on July 27 in Fargo, North Dakota. Participants will travel across North Dakota, parts of Minnesota, and South Dakota to visit wheat fields and estimate yields. In the Prairie Provinces the CWB hosts a Western Canadian crop tour of wheat canola and durum begging July 21.
2015 harvest prices for June 24, at noon, are as follows:
SWW at $298.70 per tonne ($8.13/bu.), SRW at $235.65 per tonne ($6.41/bu.), HRW at $ 259.52 per tonne ($7.07/bu.), and HRS at $259.52 per tonne ($ 7.06 /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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