[Farmmarketnews] Wednesday Ontario Commodity Report and Weekly GFO Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Oct 14 16:01:34 EDT 2015
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, October 14
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.2982 down 0.0004
Chicago corn closed slightly to moderately lower.
DEC15 HI 3.86 3/4 DEC16 HI 4.12
LOW 3.78 1/2 LOW 4.05 1/4
CLOSE3.79 Down 5 1/2 CLOSE 4.06 1/4 Down 3 3/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +DEC15+MAR16+MAR16
CK Low 0.60 4.39 172.83 0.55 4.61 181.59
CK High 0.60 4.39 172.83 0.55 4.61 181.59
CK Avg 0.60 -0.51 4.39 172.83 0.55 -0.64 4.61 181.59
Essex Cty 0.60 4.39 172.83 0.55 4.61 181.59
Mdsx Low 0.60 4.39 172.83 0.55 4.61 181.59
Mdsx High 0.65 4.44 174.80 0.65 4.71 185.52
Mdsx Avg 0.63 -0.48 4.42 173.81 0.60 -0.59 4.66 183.55
Hensall 0.65 4.44 174.80 0.65 4.71 185.52
Bruce 0.60 4.39 172.83 0.55 4.61 181.59
Putnam 0.60 4.39 172.83 0.55 4.61 181.59
Burford 0.60 4.39 172.83 0.55 4.61 181.59
Port Perry 0.65 4.44 174.80 0.65 4.71 185.52
Norfolk 0.60 4.39 172.83 0.55 4.61 181.59
Palmerston 0.65 4.44 174.80 0.55 4.61 181.59
Varna 0.65 4.44 174.80 0.65 4.71 185.52
Trenton 0.75 4.54 178.73 0.60 4.66 183.55
Winchester 1.20 4.99 196.45 0.85 4.91 193.40
North Gower 1.15 4.94 194.48 0.85 4.91 193.40
Huron FOB 0.80 4.59 180.70 0.70 4.76 187.49
Kent FOB 0.60 4.39 172.83 0.55 4.61 181.59
Lamb FOB 0.60 4.39 172.83 0.55 4.61 181.59
Mdsx FOB 0.60 0.60 0.70N/A 4.39 172.83 0.55 4.61 181.59
FOB SW Que N/A N/A
Track 1.03 4.82 189.56N/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 0.85 0.95 0.75 4.81 189.46
Sarn-Eth 0.95 0.95 0.95 1.00 4.74 186.61N/A
Cllngwd-Eth N/A N/A N/A N/A N/A*
London-Ing N/A 1.10 1.20 1.25 0.95 5.01 197.33
Pt.Colb-Ing N/A N/A N/A N/A N/A
Cardnl-Ing 1.30 1.20 1.35 1.40 5.09 200.38 0.95 5.01 197.33
W O Feed 1.34 0.95 5.13 201.96
US Rep 1.50 1.11 5.29 208.26
Toledo El. -0.06 3.73 146.66 -0.56 3.51 138.05
TRANSFER
Sarnia N/A N/A
Pt. Stanley N/A N/A
Hamilton N/A N/A
MID SD CRN 0.60 4.391
HI SD CRN 0.60 4.391
*Wet Bid
Bank of Canada Noon exchange rate was 1.2982 down 0.0004
Chicago soybeans closed slightly lower.
NOV15 HI 9.19 3/4 NOV16 HI 9.17
LOW 9.09 1/4 LOW 9.10
CLOSE9.10 1/2 Down 3 1/2 CLOSE 9.10 3/4 Down 4 1/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +NOV1+JAN1+JAN16
CK Low 2.05 11.16 409.881.55 10.66 391.60
CK High 2.20 11.31 415.391.70 10.81 397.11
CK Average 2.10 -0.5711.21 411.711.63 -1.0410.73 394.41
Essex Cty 2.10 11.21 411.711.65 10.76 395.27
Mdsx Low 2.03 11.14 409.141.56 10.67 391.96
Mdsx High 2.10 11.21 411.711.65 10.76 395.27
Mdsx Average 2.07 -0.6011.17 410.431.61 -1.0610.71 393.62
Hensall 2.10 11.21 411.711.65 10.76 395.27
Bruce 2.10 11.21 411.711.65 10.76 395.27
Putnam 2.05 11.16 409.881.65 10.76 395.27
Burford 2.06 11.17 410.241.59 10.70 393.07
Port Perry 2.03 11.14 409.141.56 10.67 391.96
Norfolk 2.15 11.26 413.551.65 10.76 395.27
Palmerston 2.10 11.21 411.711.65 10.76 395.27
Varna 2.10 11.21 411.711.65 10.76 395.27
Trenton 2.05 11.16 409.881.65 10.76 395.27
Winchester 2.29 11.40 418.691.97 11.08 407.03
North Gower 2.15 11.26 413.552.02 11.13 408.87
Huron FOB 2.20 11.31 415.391.75 10.86 398.94
Kent FOB 2.10 11.21 411.711.63 10.74 394.54
Lambton FOB 2.10 11.21 411.711.63 10.74 394.54
Middlesex FOB2.29 2.29 2.33 N/A 11.40 418.691.85 10.96 402.62
PROCESSORS
Hamilton 2.68 2.68 2.69 2.69 11.79 433.022.17 11.28 414.38
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. -0.36 8.74 321.25-0.49 8.62 316.59
Bank of Canada Noon exchange rate was 1.2982 down 0.0004
Chicago wheat closed moderately lower.
DEC15 HI 5.19 3/4 JUL16 HI 5.36
LOW 5.07 1/2 LOW 5.23 3/4
CLOSE 5.08 1/4 Down 10 3/4 CLOSE 5.25 Down 10 1/2
Minni wheat closed moderately lower.
DEC15 HI 5.35 3/4 SEP16 HI 5.69
LOW 5.25 1/2 LOW 5.66 1/4
CLOSE 5.26 Down 10 1/4 CLOSE 5.68 Down 9
GFO Cash Wheat Prices - DEL Terminal
Current Crop 15 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 3.56 1.36 1.10 0.64
CAD $/bu 8.64 6.44 6.18 5.90
CAD $/tonne 317.44 236.68 227.18 216.61
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 0.70 N/A N/A 1.05 0.50 N/A
London 3.34 0.81 0.81 N/A 1.57 0.98 0.46 N/A
Hensall 3.40 N/A 0.95 N/A 1.40 N/A 0.45 N/A
Trenton N/A N/A 0.90 N/A N/A N/A 0.45 N/A
Winchester N/A N/A N/A N/A N/A N/A N/A N/A
Essex N/A N/A 0.30 N/A N/A N/A 0.50 N/A
Norwich 3.40 N/A 0.95 N/A 1.50 N/A 0.45 N/A
Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A
Kent Bridge 3.40 N/A 0.35 N/A 1.50 N/A 0.45 N/A
Chatham N/A 1.05 0.30 N/A N/A 1.10 0.50 N/A
Brigden N/A N/A 0.30 N/A N/A N/A 0.50 N/A
Palmerston N/A 1.05 0.95 0.50 N/A 1.15 0.50 0.30
Varna 3.55 1.00 1.00 N/A 1.70 1.05 0.50 N/A
Mitchell 3.40 1.00 0.95 N/A 1.40 1.00 0.45 N/A
Thornton N/A N/A N/A 0.52 N/A N/A N/A N/A
North Gower N/A 1.44 1.18 0.71 N/A 1.75 0.84 1.22
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 4.27N/A 1.88N/A 3.15N/A 1.86N/A
Toledo El. 5.25US 6.79CA 5.07US 6.55CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 16 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.54 1.67 0.76 1.15
CAD $/bu 6.79 6.92 6.01 6.83
CAD $/tonne 249.39 254.14 220.89 250.82
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
Bayport Wheat 260.00 - 265.00
Bayport Oats 265.00
Bayport Barley 250.00
FOB Hm Soymeal 489.21 - 507.95
DDG's FOB Srn & Aylm 200.00 - 210.00
Ontario Grain Market Commentary for October 14, 2015
Wednesday, October 14, 2015
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT Dec 3.79 ↓ 11 cents
Soybeans CBOT Nov 9.10 ↑ 18 cents
Wheat CBOT Dec 5.08 ↓ 05 cents
Wheat Minn. Dec 5.26 ↓ 01 cents
Wheat Kansas Dec 5.01 ↓ 01 cents
Chicago Oats Dec 2.32 ↑ 05 cents
Canadian $ Dec .7709 ↑ .45 points
CORN:
On the charts: Last week’s resistance level of $4.00 on the December contract was a roadblock and we did not close above it. We have since started our pullback towards the $3.70 support level as suggested. This is a well-defined uptrend line and should hold. If we manage to find support at that level we should start our ascent back to retest the $4 level within the next couple of weeks. Our head and shoulder formation is still intact and suggests higher prices ahead. Major overhead resistance is still at $4 then again at $4.40, based on December futures. Major support is seen at $3.70 and again at $3.50. Medium term indicators are neutral while the main trend is still down.
SOYBEANS:
On the charts:
The November soybean contract has broken to the upside from its box that we spoke of last week. Before we get too excited, we should see if we manage to close the gap at the $9.30 - $9.50 level based on the weekly charts. Overhead resistance is still at the $9.50 level while initial support has moved up to the $9.00 level once again. Major support is seen at the $8.50 level on the November contract which will expire in two weeks. Short term indicators are neutral while the main trend is still down.
WHEAT:
On the charts:
The wheat charts still look positive but is leaning heavily on the $5 uptrend line. If we manage to hold here we could see another attempt at the $5.30 high from last week. If so we can set our sights on the $5.45 resistance level, which happens to be 50% retracement from the June 30 highs.
Short term indicators are positive while the longer term and main trend is still negative. Solid support is seen at the $5 and $4.60 levels while major resistance is seen at the $5.60 -$5.80 levels based on the December contract.
HARVEST 2015 CROP CASH PRICES AS OF CLOSE October 14, 2015
SWW @ $318.40/MT ($8.67/bu), HRW @ $237.37/MT ($6.46/bu),
HRS @ $217.35/MT ($5.92/bu), SRW @ $227.83/MT ($6.20/bu).
Marty Hibbs, Grain Farmers of Ontario
--
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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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