[Farmmarketnews] Wednesday Ontario Commodity Report and Weekly Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Oct 28 16:30:56 EDT 2015
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, October 28
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.3148 down 0.0093
Chicago corn closed slightly lower.
DEC15 HI 3.80 3/4 DEC16 HI 4.06
LOW 3.75 3/4 LOW 4.01 3/4
CLOSE3.76 Down 4 CLOSE 4.02 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 0.65 4.41 173.61 0.55 4.57 179.91
CK High 0.70 4.46 175.58 0.65 4.67 183.85
CK Avg 0.69 -0.50 4.45 175.19 0.63 -0.62 4.65 183.06
Essex Cty 0.70 4.46 175.58 0.65 4.67 183.85
Mdsx Low 0.70 4.46 175.58 0.65 4.67 183.85
Mdsx High 0.70 4.46 175.58 0.65 4.67 183.85
Mdsx Avg 0.70 -0.49 4.46 175.58 0.65 -0.60 4.67 183.85
Hensall 0.70 4.46 175.58 0.65 4.67 183.85
Bruce 0.70 4.46 175.58 0.65 4.67 183.85
Putnam 0.55 4.31 169.68 0.55 4.57 179.91
Burford 0.70 4.46 175.58 0.65 4.67 183.85
Port Perry 0.70 4.46 175.58 0.65 4.67 183.85
Norfolk 0.70 4.46 175.58 0.65 4.67 183.85
Palmerston 0.70 4.46 175.58 0.65 4.67 183.85
Varna 0.70 4.46 175.58 0.65 4.67 183.85
Trenton 0.75 4.51 177.55 0.65 4.67 183.85
Winchester 1.15 4.91 193.30 0.90 4.92 193.69
North Gower 1.15 4.91 193.30 0.85 4.87 191.72
Huron FOB 0.85 4.61 181.49 0.70 4.72 185.82
Kent FOB 0.70 4.46 175.58 0.65 4.67 183.85
Lamb FOB 0.70 4.46 175.58 0.65 4.67 183.85
Mdsx FOB 0.70 0.70 0.70N/A 4.46 175.58 0.65 4.67 183.85
FOB SW Que N/A N/A
Track 1.10 4.86 191.33N/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 1.00 1.05 0.85 4.87 191.72
Sarn-Eth 0.95 0.95 0.95 1.00 4.71 185.42N/A
Cllngwd-Eth N/A N/A N/A N/A N/A*
London-Ing N/A 1.05 1.15 1.20 0.95 4.97 195.66
Pt.Colb-Ing N/A N/A N/A N/A N/A
Cardnl-Ing N/A 1.25 1.25 1.30 1.00 5.02 197.63
W O Feed 1.15 0.74 4.91 193.30
US Rep 1.60 1.19 5.36 211.01
Toledo El. 0.09 3.85 151.66 -0.56 3.46 136.07
TRANSFER
Sarnia N/A N/A
Pt. Stanley N/A N/A
Hamilton N/A N/A
MID SD CRN 0.67 1/2 4.43 1/2
HI SD CRN 0.70 4.46
*Wet Bid
Bank of Canada Noon exchange rate was 1.3148 down 0.0093
Chicago soybeans closed slightly lower.
JAN16 HI 8.91 1/2 NOV16 HI 8.92 1/4
LOW 8.82 LOW 8.85 3/4
CLOSE8.82 3/4 Down 8 1/4 CLOSE 8.87 1/4 Down 4 1/2
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +JAN1+JAN1+JAN16
CK Low 2.09 10.92 401.151.75 10.62 390.31
CK High 2.25 11.08 407.031.90 10.77 395.82
CK Average 2.19 -0.6111.02 404.751.78 -0.9810.65 391.41
Essex Cty 2.20 11.03 405.191.75 10.62 390.31
Mdsx Low 2.07 10.90 400.411.73 10.60 389.58
Mdsx High 2.20 11.03 405.191.85 10.72 393.98
Mdsx Average 2.14 -0.6710.96 402.801.79 -0.9710.66 391.78
Hensall 2.18 11.00 404.271.83 10.70 393.07
Bruce 2.20 11.03 405.191.85 10.72 393.98
Putnam 2.10 10.93 401.521.75 10.62 390.31
Burford 2.14 10.97 402.991.80 10.67 392.15
Port Perry 2.07 10.90 400.411.73 10.60 389.58
Norfolk 2.25 11.08 407.031.85 10.72 393.98
Palmerston 2.15 10.98 403.351.80 10.67 392.15
Varna 2.15 10.98 403.351.80 10.67 392.15
Trenton 2.15 10.98 403.351.75 10.62 390.31
Winchester 2.28 11.11 408.132.08 10.95 402.44
North Gower 2.27 11.10 407.762.02 10.89 400.23
Huron FOB 2.25 11.08 407.031.90 10.77 395.82
Kent FOB 2.25 11.08 407.031.85 10.72 393.98
Lambton FOB 2.25 11.08 407.031.85 10.72 393.98
Middlesex FOB2.34 2.34 2.44 N/A 11.17 410.342.03 10.90 400.60
PROCESSORS
Hamilton 2.74 2.74 2.81 2.81 11.57 425.032.42 11.29 414.93
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 8.46 310.80-0.50 8.37 307.71
Bank of Canada Noon exchange rate was 1.3148 down 0.0093
Chicago wheat closed slightly lower.
DEC15 HI 5.08 3/4 JUL16 HI 5.20 1/4
LOW 5.00 LOW 5.12 1/4
CLOSE 5.06 Down 3 1/4 CLOSE 5.18 3/4 Down 1 3/4
Minni wheat closed narrowly mixed.
DEC15 HI 5.17 SEP16 HI 5.61 1/2
LOW 5.08 1/2 LOW 5.60 1/4
CLOSE 5.16 Up 1/4 CLOSE 5.61 1/2 Down 3/4
GFO Cash Wheat Prices - DEL Terminal
Current Crop 15 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 3.71 1.47 1.21 0.72
CAD $/bu 8.77 6.53 6.27 5.88
CAD $/tonne 322.42 240.12 230.43 215.91
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 0.75 N/A N/A 0.95 0.50 N/A
London 3.39 0.83 0.83 N/A 1.33 0.93 0.41 N/A
Hensall 3.50 N/A 1.00 N/A 1.25 N/A 0.40 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 0.35 N/A N/A N/A 0.45 N/A
Norwich 3.50 N/A 1.00 N/A 1.35 N/A 0.40 N/A
Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A
Kent Bridge 3.50 N/A 0.35 N/A 1.35 N/A 0.40 N/A
Chatham N/A 0.95 0.35 N/A N/A 0.95 0.45 N/A
Brigden N/A N/A 0.35 N/A N/A N/A 0.45 N/A
Palmerston N/A 0.90 0.90 0.45 N/A N/A N/A 0.30
Varna 3.50 0.90 1.00 N/A 1.25 0.90 0.40 N/A
Mitchell 3.50 0.90 1.00 N/A 1.25 0.90 0.40 N/A
Thornton N/A N/A N/A 0.62 N/A N/A N/A N/A
North Gower N/A 1.53 1.27 0.76 N/A 1.84 0.91 1.31
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 4.24N/A 1.87N/A 2.92N/A 1.68N/A
Toledo El. 5.23US 6.89CA 5.01US 6.56CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 16 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.74 1.74 0.82 1.22
CAD $/bu 6.93 6.93 6.01 6.83
CAD $/tonne 254.63 254.63 220.92 251.14
(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 476.10
DDG's FOB Srn & Aylm 190.00 - 195.00
Ontario Grain Market Commentary for October 28, 2015
Wednesday, October 28, 2015
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT Dec 3.76 ↓ 05 cents
Soybeans CBOT Nov 8.81 ↓ 25 cents
Wheat CBOT Dec 5.06 ↑ 11 cents
Wheat Minn. Dec 5.15 ↑ 03 cents
Wheat Kansas Dec 4.85 ↑ 05 cents
Chicago Oats Dec 2.27 ↓ 01 cents
Canadian $ Dec .7575 ↑ .42 points
CORN:
On the charts: It was a very quiet week in the corn complex as the December contract continued to weigh heavily on the short term trend line which is now at $3.70. A close below that level could see a move back to the recent bottom at $3.60. If on the other hand the trend line continues to be supportive, we could see a rally back to the $4 resistance level in the coming weeks. Looking at the bigger picture, we have major support at the $3.50 level and major overhead resistance is sitting between $4.20 - $4.40 on the lead month. Short term indicators are neutral, while the main trend is still down.
SOYBEANS:
On the charts:
We are quoting the January contract as of October 28 and will adjust our prices accordingly. We are currently range-bound on the January contract from $8.60 to $9.25 per bushel. We would need a close above $9.50 to turn this market to the upside even for the short term. 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 on January is still at the $9.50 level while support is seen at the $8.60 level.
Short term indicators are neutral, while the main trend remains negative. There is very little support on the long term charts below the $8.50 level.
WHEAT:
On the charts:
Wheat had a 30 cent range the week of October 21 thru 28 mostly to the upside before gravity took hold. Our head and shoulders formation is still intact on the daily chart, providing the interim lows of $4.80 are maintained. Major support levels are seen at the $4.50 level and overhead resistance in the range of $5.60 - $5.80 based on the December contract.
Although all indicators are still negative, we are getting into oversold territory and there are several support levels directly below recent bottoms. Indicators are still negative and the main trend is still down.
HARVEST 2015 CROP CASH PRICES AS OF CLOSE October 28, 2015
SWW @ $323.05/MT ($8.79/bu), HRW @ $240.59/MT ($6.55/bu),
HRS @ $216.33/MT ($5.89/bu), SRW @ $230.89/MT ($6.28/bu).
Marty Hibbs, Grain Farmers of Ontario
--
--
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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