[Farmmarketnews] Wednesday Ontario Commodity Report
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Mar 25 15:48:47 EDT 2015
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, March 25
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.2513 up 0.0002
Chicago corn closed slightly higher.
MAY15 HI 3.95 3/4 DEC15 HI 4.18 3/4
LOW 3.91 1/2 LOW 4.15
CLOSE3.95 Up 1 3/4 CLOSE 4.18 Up 3/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +MAY15+JUL15+JUL15
CK Low 0.80 4.75 187.00 0.40 4.58 180.31
CK High 0.80 4.75 187.00 0.40 4.58 180.31
CK Avg 0.80 -0.20 4.75 187.00 0.40 -0.66 4.58 180.31
Essex Cty 0.85 4.80 188.97 0.45 4.63 182.28
Mdsx Low 0.80 4.75 187.00 0.40 4.58 180.31
Mdsx High 0.80 4.75 187.00 0.40 4.58 180.31
Mdsx Avg 0.80 -0.20 4.75 187.00 0.40 -0.66 4.58 180.31
Hensall 0.80 4.75 187.00 0.40 4.58 180.31
Bruce 0.80 4.75 187.00 0.40 4.58 180.31
Putnam 0.80 4.75 187.00 0.40 4.58 180.31
Burford 0.80 4.75 187.00 0.40 4.58 180.31
Port Perry 0.80 4.75 187.00 0.40 4.58 180.31
Norfolk 0.80 4.75 187.00 0.40 4.58 180.31
Palmerston 0.80 4.75 187.00 0.40 4.58 180.31
Varna 0.80 4.75 187.00 0.40 4.58 180.31
Trenton 0.95 4.90 192.90 0.60 4.78 188.18
Winchester 1.00 4.95 194.87 0.95 5.13 201.96
North Gower 0.90 4.85 190.94 0.95 5.13 201.96
Huron FOB 0.90 4.85 190.94 0.45 4.63 182.28
Kent FOB 0.80 4.75 187.00 0.40 4.58 180.31
Lamb FOB 0.80 4.75 187.00 0.40 4.58 180.31
Mdsx FOB 0.80 0.80 0.85 0.85 4.75 187.00 0.40 4.58 180.31
FOB SW Que N/A N/A
Track 1.18 5.13 201.76N/A
PROCESSORS
Chat-Eth N/A N/A N/A N/A 0.75 4.93 194.09
Jhnstwn-Eth N/A N/A N/A N/A 0.93 5.11 201.17
Aylmer-Eth N/A 0.85 0.85 0.90 N/A
Sarn-Eth 1.00 1.10 1.10 1.10 4.95 194.87N/A
Cllngwd-Eth N/A N/A N/A N/A N/A*
London-Ing N/A N/A N/A 1.25 0.80 4.98 196.05
Pt.Colb-Ing N/A N/A N/A N/A 0.80 4.98 196.05
Cardnl-Ing N/A N/A N/A N/A 0.95 5.13 201.96
W O Feed 1.21 0.90 5.16 203.14
US Rep 1.25 0.94 5.20 204.71
Toledo El. -0.08 3.87 152.54 -0.48 3.70 145.81
TRANSFER
Sarnia N/A N/A
Pt. Stanley N/A N/A
Hamilton N/A N/A
MID SD CRN 0.80 4.75
HI SD CRN 0.80 4.75
*Wet Bid
Bank of Canada Noon exchange rate was 1.2513 up 0.0002
Chicago soybeans closed slightly lower.
MAY15 HI 9.87 3/4 NOV15 HI 9.65 1/2
LOW 9.78 LOW 9.56 3/4
CLOSE9.78 3/4 Down 3 CLOSE 9.57 1/4 Down 5 1/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +MAY1+MAY1+AUG15
CK Low 1.60 11.39 418.421.39 10.96 402.80
CK High 1.70 11.49 422.091.50 11.07 406.84
CK Average 1.64 -0.8411.43 419.951.45 -0.9811.02 404.95
Essex Cty 1.90 11.69 429.441.79 11.36 417.50
Mdsx Low 1.58 11.37 417.681.37 10.94 402.07
Mdsx High 1.60 11.39 418.421.40 10.97 403.17
Mdsx Average 1.59 -0.8911.38 418.051.39 -1.0410.96 402.62
Hensall 1.60 11.39 418.421.43 11.00 404.09
Bruce 1.60 11.39 418.421.40 10.97 403.17
Putnam 1.60 11.39 418.421.40 10.97 403.17
Burford 1.61 11.40 418.791.40 10.97 403.17
Port Perry 1.58 11.37 417.681.37 10.94 402.07
Norfolk 1.55 11.34 416.581.45 11.02 405.01
Palmerston 1.65 11.44 420.261.45 11.02 405.01
Varna 1.65 11.44 420.261.50 11.07 406.84
Trenton 1.65 11.44 420.261.50 11.07 406.84
Winchester 1.85 11.64 427.601.80 11.37 417.87
North Gower 1.70 11.49 422.091.70 11.27 414.19
Huron FOB 1.75 11.54 423.931.55 11.12 408.68
Kent FOB 1.60 11.39 418.421.45 11.02 405.01
Lambton FOB 1.60 11.39 418.421.45 11.02 405.01
Middlesex FOB N/A 1.63 1.81 N/A 1.54 11.11 408.31
PROCESSORS
Hamilton N/A 2.07 2.27 N/A 2.04 11.61 426.69
Windsor 2.12 2.18 2.25 2.27 11.91 437.532.00 11.57 425.22
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. -0.08 9.71 356.87-0.41 9.16 336.53
Bank of Canada Noon exchange rate was 1.2513 up 0.0002
Chicago wheat closed slightly lower.
MAY15 HI 5.28 1/4 JUL15 HI 5.32 3/4
LOW 5.16 LOW 5.20 1/4
CLOSE 5.19 Down 4 1/2 CLOSE 5.23 3/4 Down 4 1/2
Minni wheat closed slightly lower.
MAY15 HI 5.85 3/4 SEP15 HI 5.99
LOW 5.79 LOW 5.92 3/4
CLOSE 5.80 3/4 Down 1 CLOSE 5.94 Down 1/2
GFO Cash Wheat Prices - DEL Terminal
Current Crop 14 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 2.19 1.75 1.25 0.97
CAD $/bu 7.38 6.94 6.44 6.78
CAD $/tonne 271.27 255.15 236.73 249.05
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 1.22 N/A N/A 1.45 0.84 N/A
London 2.28 1.53 1.15 N/A 1.31 1.31 0.75 N/A
Hensall 2.30 N/A 1.25 N/A 1.35 N/A 0.80 N/A
Trenton N/A N/A N/A N/A N/A N/A 0.80 N/A
Winchester N/A N/A N/A N/A N/A N/A N/A 0.40
Essex N/A N/A 1.20 N/A N/A N/A 0.80 N/A
Norwich 2.30 N/A 1.25 N/A 1.45 N/A 0.90 N/A
Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A
Kent Bridge 2.30 N/A 1.25 N/A 1.45 N/A 0.80 N/A
Chatham N/A N/A 1.20 N/A N/A 1.45 0.75 N/A
Brigden N/A N/A 1.20 N/A N/A N/A 0.75 N/A
Palmerston N/A 1.85 1.25 0.75 N/A 1.45 0.80 0.85
Varna 2.30 1.85 1.25 N/A 1.35 1.35 0.80 N/A
Mitchell 2.30 1.85 1.25 N/A 1.35 1.35 0.80 N/A
Thornton N/A N/A N/A 0.28 N/A N/A N/A N/A
North Gower N/A N/A N/A N/A N/A N/A N/A 1.24
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 3.57N/A 1.44N/A N/A N/A 1.58N/A
Toledo El. 5.26US 6.59CA 5.31US 6.65CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 15 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.33 1.83 1.01 1.19
CAD $/bu 6.56 7.07 6.25 7.13
CAD $/tonne 241.22 259.64 229.71 262.06
(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 523.06 - 580.38
DDG's FOB Srn & Aylm 250.00 - 255.00
Wednesday, March 25, 2015
CORN:
Corn had a positive week with a 30 cent range from the low of $3.67 last Wednesday the 18th to today’s high of $3.96, before settling near the highs at $3.94.
On the charts: As of today, March 25 we have 2 buy signals confirmed which is positive for both the daily and weekly charts. The long term indicator is still negative and confirms the main trend is still down. The March 31 United States Department of Agriculture (USDA) report should set the tone for the next few months.
SOYBEANS:
On the charts: Soybeans is the only grain of the three that is still showing all indicators to be negative. It will take a lot of work to turn the soybean trend to the upside. I will continue to view the $9 support level and the $10.75 resistance level as the current trading range until I am given reason to think otherwise. The USDA report due out on March 31 should give us a better picture of future prices.
WHEAT:
The European Union will retain its title as the world's top wheat exporter next season, Canadian grains giant CWB said, citing constraints to competition from the former Soviet Union and the U.S..
EU wheat exports will, backed by a decent harvest and a soft euro, hit a record 32.35m tonnes in 2015-16, according to the CWB, Canada's former grain export monopoly.
On the charts: The May wheat contract had a volatile swing in the past 5 trading sessions as the May contract closed the session on March 18 at $5.10 and proceeded higher over the next week to an intra-day high of $5.40 ½ on March 21 only to settle back today March 25 at $ 5.18. This action could be attributed to the jockeying of positions ahead of the March 31 USDA report. Meanwhile the short term indicators are neutral but the main trend is still down.
Grain Farmers of Ontario are hosting a series of “Marketing Seminars” with a focus on Futures trading during the month of April. These seminars are free for GFO members.
They include, Avonmore, Belleville, Brantford, Guelph, London, Stratford, New Liskeard and Oungah.
For a complete list of dates, log on to our website www.gfo.ca/marketing or call Marty Hibbs at 519-767-4123 to sign up. Seating is limited.
2014 CROP CASH PRICES AS OF CLOSE March 25, 2015
SWW @ $271.20/mt ($7.38/bu), SRW @ $236.66/mt ($6.44/bu),
HRW @ $255.08/mt ($6.94/bu), HRS @ $249.10/mt ($6.78/bu).
Marty Hibbs, Grain Farmers of Ontario
Ontario Grain Market Commentary for March 25, 2015
--
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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