[Farmmarketnews] Wednesday Ontario Commodity Report and GFO Market Commentary for Oct.21, 2015
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Oct 21 16:02:28 EDT 2015
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, October 21
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.3116 up 0.0142
Chicago corn closed slightly higher.
DEC15 HI 3.81 DEC16 HI 4.04 1/4
LOW 3.75 1/2 LOW 4.00
CLOSE3.80 3/4 Up 4 CLOSE 4.04 Up 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 4.41 173.52 0.55 4.59 180.70
CK High 0.60 4.41 173.52 0.55 4.59 180.70
CK Avg 0.60 -0.59 4.41 173.52 0.55 -0.71 4.59 180.70
Essex Cty 0.60 4.41 173.52 0.55 4.59 180.70
Mdsx Low 0.60 4.41 173.52 0.55 4.59 180.70
Mdsx High 0.65 4.46 175.48 0.65 4.69 184.64
Mdsx Avg 0.63 -0.57 4.43 174.50 0.60 -0.66 4.64 182.67
Hensall 0.65 4.46 175.48 0.65 4.69 184.64
Bruce 0.60 4.41 173.52 0.55 4.59 180.70
Putnam 0.60 4.41 173.52 0.55 4.59 180.70
Burford 0.60 4.41 173.52 0.55 4.59 180.70
Port Perry 0.65 4.46 175.48 0.65 4.69 184.64
Norfolk 0.60 4.41 173.52 0.55 4.59 180.70
Palmerston 0.65 4.46 175.48 0.65 4.69 184.64
Varna 0.65 4.46 175.48 0.65 4.69 184.64
Trenton 0.75 4.56 179.42 0.65 4.69 184.64
Winchester 1.15 4.96 195.17 0.85 4.89 192.51
North Gower 1.15 4.96 195.17 0.85 4.89 192.51
Huron FOB 0.80 4.61 181.39 0.70 4.74 186.61
Kent FOB 0.60 4.41 173.52 0.55 4.59 180.70
Lamb FOB 0.60 4.41 173.52 0.55 4.59 180.70
Mdsx FOB 0.60N/A N/A N/A 4.41 173.52 0.55 4.59 180.70
FOB SW Que N/A N/A
Track 1.00 4.81 189.26N/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 0.80 0.95 0.75 4.79 188.57
Sarn-Eth 0.95 0.95 0.95 1.00 4.76 187.29N/A
Cllngwd-Eth N/A N/A N/A N/A N/A*
London-Ing N/A 1.10 1.10 1.15 0.90 4.94 194.48
Pt.Colb-Ing N/A N/A N/A N/A N/A
Cardnl-Ing N/A 1.25 1.20 1.25 0.95 4.99 196.45
W O Feed 1.15 0.74 4.96 195.17
US Rep 1.45 1.04 5.26 206.98
Toledo El. -0.01 3.79 149.38 -0.56 3.48 136.82
TRANSFER
Sarnia N/A N/A
Pt. Stanley N/A N/A
Hamilton N/A N/A
MID SD CRN 0.60 4.40 3/4
HI SD CRN 0.60 4.40 3/4
*Wet Bid
Bank of Canada Noon exchange rate was 1.3116 up 0.0142
Chicago soybeans closed slightly higher.
NOV15 HI 9.07 NOV16 HI 9.08 3/4
LOW 8.94 1/2 LOW 9.01
CLOSE9.05 1/4 Up 9 1/4 CLOSE 9.07 Up 4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +NOV1+JAN1+JAN16
CK Low 1.95 11.00 404.271.55 10.62 390.22
CK High 2.04 11.09 407.581.70 10.77 395.73
CK Average 1.98 -0.8611.03 405.441.64 -1.2010.71 393.34
Essex Cty 1.95 11.00 404.271.60 10.67 392.06
Mdsx Low 2.00 11.05 406.111.64 10.71 393.53
Mdsx High 2.02 11.07 406.841.65 10.72 393.89
Mdsx Average 2.01 -0.8311.06 406.481.65 -1.1910.72 393.71
Hensall 2.00 11.05 406.111.63 10.70 392.97
Bruce 2.00 11.05 406.111.65 10.72 393.89
Putnam 1.95 11.00 404.271.55 10.62 390.22
Burford 2.09 11.14 409.421.71 10.78 396.10
Port Perry 2.02 11.07 406.841.64 10.71 393.53
Norfolk 2.05 11.10 407.951.65 10.72 393.89
Palmerston 2.00 11.05 406.111.55 10.62 390.22
Varna 2.00 11.05 406.111.60 10.67 392.06
Trenton 2.00 11.05 406.111.55 10.62 390.22
Winchester 2.09 11.14 409.421.91 10.98 403.45
North Gower 2.13 11.18 410.892.02 11.09 407.49
Huron FOB 2.10 11.15 409.781.70 10.77 395.73
Kent FOB 2.00 11.05 406.111.65 10.72 393.89
Lambton FOB 2.00 11.05 406.111.65 10.72 393.89
Middlesex FOB2.20 2.33 N/A N/A 11.25 413.461.92 10.99 403.81
PROCESSORS
Hamilton 2.55 2.68 2.70 2.76 11.60 426.322.37 11.44 420.35
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. -0.37 8.68 319.11-0.50 8.57 314.93
Bank of Canada Noon exchange rate was 1.3116 up 0.0142
Chicago wheat closed slightly higher.
DEC15 HI 4.97 1/2 JUL16 HI 5.10
LOW 4.90 1/4 LOW 5.04
CLOSE 4.94 3/4 Up 3 1/2 CLOSE 5.07 3/4 Up 2 1/2
Minni wheat closed slightly higher.
DEC15 HI 5.14 1/4 SEP16 HI 5.60
LOW 5.09 LOW 5.57 3/4
CLOSE 5.11 3/4 Up 2 3/4 CLOSE 5.57 3/4 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 3.65 1.42 1.16 0.68
CAD $/bu 8.60 6.37 6.10 5.80
CAD $/tonne 315.97 233.93 224.28 213.18
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 0.65 N/A N/A 0.90 0.35 N/A
London 3.34 0.79 0.79 N/A 1.42 0.96 0.44 N/A
Hensall 3.40 N/A 0.90 N/A 1.25 N/A 0.35 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 0.25 N/A N/A N/A 0.40 N/A
Norwich 3.40 N/A 0.90 N/A 1.35 N/A 0.35 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 0.30 N/A 1.35 N/A 0.35 N/A
Chatham N/A 0.95 0.25 N/A N/A 0.95 0.40 N/A
Brigden N/A N/A 0.25 N/A N/A N/A 0.40 N/A
Palmerston N/A 0.90 0.90 0.45 N/A 1.00 0.45 0.30
Varna 3.45 0.90 0.90 N/A 1.20 0.90 0.35 N/A
Mitchell 3.40 0.90 0.90 N/A 1.25 0.95 0.35 N/A
Thornton N/A N/A N/A 0.50 N/A N/A N/A N/A
North Gower N/A 1.34 1.08 0.61 N/A 1.64 0.73 1.14
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 4.18N/A 1.81N/A 2.90N/A 1.66N/A
Toledo El. 5.12US 6.72CA 4.90US 6.43CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 16 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.59 1.72 0.80 1.22
CAD $/bu 6.67 6.80 5.88 6.80
CAD $/tonne 244.97 249.79 216.02 249.79
(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 483.37 - 487.78
DDG's FOB Srn & Aylm 200.00 - 205.00
Grain Farmers of Ontario Market Commentary for October 21, 2015
Wednesday, October 21, 2015
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT Dec 3.81 ↑ 02 cents
Soybeans CBOT Nov 9.05 ↓ 05 cents
Wheat CBOT Dec 4.95 ↓ 13 cents
Wheat Minn. Dec 5.12 ↓ 14 cents
Wheat Kansas Dec 4.80 ↓ 21 cents
Chicago Oats Dec 2.28 ↓ 04 cents
Canadian $ Dec .7617 ↓ .90 points
CORN:
On the charts: After starting the week on a softer note the corn was the only grain that had a net gain on the week. All of the grains have drifted lower over the past week and they are now approaching their support levels. In the case of corn, the $3.70 level held up so far but we need to continue to hold this area or we could see another test of the $3.60 level which equates to a 60 per cent pullback from the $4 highs on the weekly chart made back on September 4. This recent slide in prices has negated our head and shoulders formation on the daily chart, and if our support in the $3.70 level fails to hold, a retest of the bottom around $3.50 is looking very possible in the coming weeks. Major overhead resistance is still at $4 with support at the $3.50 level based on the lead month contract. Medium term indicators are neutral while the main trend is still down.
SOYBEANS:
On the charts:
The November soybean contract saw prices retreat from last week’s high of $9.25 a bushel.
The gap on the weekly chart around $9.35-$9.45 has not been filled so we could see another attempt at that target. Overhead resistance is still at the $9.50 level while initial support is seen at $8.80 and major support is seen at the $8.60 level based on the November contract, which will expire for speculators October 30. We will then move to the January 16 contract.
Short term indicators are neutral, while the main trend remains negative.
WHEAT:
On the charts:
Like its counterparts, wheat had a negative week with the nearby contract, losing about 25 cents per bushel since last week’s report. From a technician’s point of view, this price action suggests we could be getting ready to revisit the $4.60 and possibly $4.50 levels on the lead month contract in the foreseeable future. This $4.50 is an important level and should hold. The charts don’t offer much support below these levels.
Short term indicators turned negative this week continuing the three year down-trend. Solid support is seen at the $4.50-$4.60 levels while major resistance is seen at the $5.75 -$6 levels based on the December contract.
HARVEST 2015 CROP CASH PRICES AS OF CLOSE October 21, 2015
SWW @ $315.98/MT ($8.60/bu), HRW @ $233.97/MT ($6.37/bu),
HRS @ $212.74/MT ($5.79/bu), SRW @ $224.32/MT ($6.11/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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