[Farmmarketnews] Wednesday Ontario Commodity Report and Todd Austin GFO Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Sep 23 15:56:46 EDT 2015
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, September 23
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.3315 up 0.0037
Chicago corn closed slightly higher.
DEC15 HI 3.84 1/2 DEC15 HI 3.84 1/2
LOW 3.79 LOW 3.79
CLOSE3.83 1/4 Up 2 3/4 CLOSE 3.83 1/4 Up 2 3/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +DEC15+DEC15+MAR16
CK Low 0.80 4.63 182.37 0.55 4.38 172.53
CK High 0.85 4.68 184.34 0.60 4.43 174.50
CK Avg 0.84 -0.44 4.67 184.01 0.56 -0.73 4.39 172.86
Essex Cty 0.85 4.68 184.34 0.60 4.43 174.50
Mdsx Low 0.85 4.68 184.34 0.55 4.38 172.53
Mdsx High 0.85 4.68 184.34 0.65 4.48 176.47
Mdsx Avg 0.85 -0.43 4.68 184.34 0.60 -0.68 4.43 174.50
Hensall 0.85 4.68 184.34 0.63 4.46 175.48
Bruce 0.85 4.68 184.34 0.55 4.38 172.53
Putnam 0.85 4.68 184.34 0.55 4.38 172.53
Burford 0.85 4.68 184.34 0.55 4.38 172.53
Port Perry 0.85 4.68 184.34 0.55 4.38 172.53
Norfolk 0.85 4.68 184.34 0.60 4.43 174.50
Palmerston 0.85 4.68 184.34 0.60 4.43 174.50
Varna 0.60 4.43 174.50 0.60 4.43 174.50
Trenton 1.05 4.88 192.22 0.80 4.63 182.37
Winchester 1.20 5.03 198.12 0.70 4.53 178.44
North Gower 1.15 4.98 196.15 1.15 4.98 196.15
Huron FOB 1.30 5.13 202.06 0.65 4.48 176.47
Kent FOB 0.85 4.68 184.34 0.60 4.43 174.50
Lamb FOB 0.85 4.68 184.34 0.60 4.43 174.50
Mdsx FOB 0.95N/A N/A N/A 4.78 188.28 0.60 4.43 174.50
FOB SW Que N/A N/A
Track 1.55 5.38 211.90N/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 0.85 N/A
Sarn-Eth N/A 1.10 0.90 0.90 1.10 4.93 194.18
Cllngwd-Eth N/A N/A N/A N/A N/A*
London-Ing N/A N/A 1.00 1.00 1.00 4.83 190.25
Pt.Colb-Ing N/A N/A N/A N/A N/A
Cardnl-Ing N/A N/A 1.25 1.25 1.25 5.08 200.09
W O Feed 1.80 1.36 5.63 221.74
US Rep 1.75 1.31 5.58 219.77
Toledo El. -0.15 3.69 145.10 -0.27 3.57 140.37
TRANSFER
Sarnia N/A N/A
Pt. Stanley N/A N/A
Hamilton N/A N/A
MID SD CRN 0.57 1/2 4.40 3/4
HI SD CRN 0.60 4.43 1/4
*Wet Bid
Bank of Canada Noon exchange rate was 1.3315 up 0.0037
Chicago soybeans closed slightly higher.
NOV15 HI 8.69 1/2 NOV16 HI 8.74
LOW 8.61 LOW 8.68
CLOSE8.63 3/4 Up 2 CLOSE 8.70 Up 1 3/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +NOV1+NOV1+JAN16
CK Low 1.99 10.63 390.491.70 10.40 382.13
CK High 2.10 10.74 394.541.75 10.45 383.97
CK Average 2.04 -0.8610.67 392.151.74 -1.1810.44 383.48
Essex Cty 2.07 10.71 393.431.75 10.45 383.97
Mdsx Low 1.97 10.61 389.761.70 10.40 382.13
Mdsx High 2.00 10.64 390.861.70 10.40 382.13
Mdsx Average 1.99 -0.9110.62 390.311.70 -1.2110.40 382.13
Hensall 2.03 10.66 391.781.73 10.43 383.05
Bruce 2.00 10.64 390.861.70 10.40 382.13
Putnam 1.70 10.34 379.841.55 10.25 376.62
Burford 2.00 10.64 390.861.73 10.43 383.24
Port Perry 1.97 10.61 389.761.70 10.40 382.13
Norfolk 2.07 10.71 393.431.75 10.45 383.97
Palmerston 2.00 10.64 390.861.70 10.40 382.13
Varna 2.00 10.64 390.861.70 10.40 382.13
Trenton 2.00 10.64 390.861.70 10.40 382.13
Winchester 2.27 10.91 400.782.09 10.79 396.46
North Gower 2.26 10.90 400.412.02 10.72 393.89
Huron FOB 2.10 10.74 394.541.75 10.45 383.97
Kent FOB 2.07 10.71 393.431.75 10.45 383.97
Lambton FOB 2.07 10.71 393.431.75 10.45 383.97
Middlesex FOB2.30 2.30 2.33 N/A 10.94 401.881.88 10.58 388.75
PROCESSORS
Hamilton 2.67 2.67 2.73 2.75 11.31 415.482.29 10.99 403.81
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 8.26 303.64-0.51 8.19 301.03
Bank of Canada Noon exchange rate was 1.3315 up 0.0037
Chicago wheat closed moderately higher to higher.
DEC15 HI 5.08 1/2 JUL16 HI 5.22 3/4
LOW 4.93 3/4 LOW 5.10 3/4
CLOSE 5.07 1/2 Up 12 CLOSE 5.22 3/4 Up 11 1/4
Minni wheat closed moderately higher.
DEC15 HI 5.29 3/4 SEP16 HI 5.72 3/4
LOW 5.15 3/4 LOW 5.67 1/4
CLOSE 5.27 1/4 Up 10 1/4 CLOSE 5.70 1/2 Up 8 1/2
GFO Cash Wheat Prices - DEL Terminal
Current Crop 15 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 3.84 1.83 1.57 0.90
CAD $/bu 8.91 6.91 6.64 6.17
CAD $/tonne 327.41 253.84 244.03 226.74
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 0.90 N/A N/A 1.20 0.70 N/A
London 3.33 1.25 0.87 N/A 1.72 1.32 0.60 N/A
Hensall 3.60 N/A 1.00 N/A 1.80 N/A 0.60 N/A
Trenton N/A N/A 0.90 N/A N/A N/A 0.60 N/A
Winchester N/A N/A N/A 0.90 N/A N/A N/A N/A
Essex N/A N/A 0.35 N/A N/A N/A 0.60 N/A
Norwich 3.60 N/A 1.00 N/A 1.80 N/A 0.55 N/A
Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A
Kent Bridge 3.60 N/A 0.40 N/A 1.85 N/A 0.55 N/A
Chatham N/A N/A 0.35 N/A N/A 1.25 0.60 N/A
Brigden N/A N/A 0.35 N/A N/A N/A 0.60 N/A
Palmerston N/A 1.20 1.00 0.50 N/A 1.20 0.65 0.30
Varna 3.40 1.10 1.00 N/A 1.80 1.10 0.55 N/A
Mitchell 3.60 1.10 1.00 N/A 1.80 1.25 0.55 N/A
Thornton N/A N/A N/A 0.54 N/A N/A N/A N/A
North Gower N/A 1.75 1.48 0.82 N/A 1.80 0.87 1.30
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 4.77N/A 2.03N/A 3.75N/A 2.15N/A
Toledo El. 5.15US 6.87CA 5.05US 6.74CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 16 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.75 1.88 0.95 1.38
CAD $/bu 6.98 7.11 6.18 7.08
CAD $/tonne 256.41 261.32 226.98 260.21
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
Bayport Wheat 290.00 - 300.00
Bayport Oats 280.00
Bayport Barley 275.00
FOB Hm Soymeal 471.91 - 488.44
DDG's FOB Srn & Aylm 215.00 - 217.00
--
Wednesday September 23, 2015
Commodity Period Price Weekly Movement
Corn CBOT Dec 3.83 ¼ ↓ 2 ¾ cents
Soybeans CBOT Nov 8.63 ¾ ↓ 23 ½ cents
Wheat CBOT Dec 5.07 ½ ↑ 18 ¾ cents
Wheat Minn. Dec 5.27 ¼ ↑ 10 ¾ cents
Wheat Kansas Dec 5.01 ¾ ↑ 15 ¼ cents
Oats CBOT Dec 2.30 ↓ 3 ¾ cents
Canadian $ Dec 0.74930 ↓ 97 points
CORN
Corn futures made gains this week on concerns that U.S. supplies may not be as large as originally expected. Harvest is showing variable production results so far. Harvest reports indicated that as of September 21, ten percent of the corn harvest was complete, just shy of the 5-year average of 15%.
According to the U.S. Department of Agriculture, the corn crop remained unchanged at 68% good to excellent this past week. The crop condition has remained relatively strong despite issues with weather this year, though it is too early yet to get a clear yield picture. AS harvest progresses we will get a much better idea of overall yields and production levels.
SOYBEANS
China’s imports of soybeans look to be on a slower pace than last year, resulting from a slowdown in animal feed demand coupled with the depreciation of China’s currency. The stock market meltdown this summer may be a sign of other economic issues within China. Since China buys more than 60% of globally traded soybeans, any reduction in imports will affect all exporters.
Soybean harvest in the U.S. was at seven percent as of September 21, with a crop rated at 63 per cent good to excellent, up from 61 per cent a week ago. Between some profit taking and harvest pressure, soybean futures have been falling earlier this week, though a recent report indicating weather concerns in Australia and Russia have given some strength back to the market.
WHEAT
September's USDA report indicated U.S. wheat carry out to be 875 million bushels. With a large global surplus and a strengthening U.S. dollar, exports are weakening as U.S. wheat is more expensive for overseas buyers.
Wheat futures strengthened on news that unfavourable weather in the Australia and Black Sea area would hamper their respective wheat crops. Possible frost damage in Australia could limit wheat production and therefore global supplies while increasing demand from countries with adequate stocks, such as the U.S. or Canada.
2015 harvest prices for September 23, at the market close, are as follows:
SWW at $327.33 per tonne ($8.91/bu.), SRW at $243.96 per tonne ($6.64/bu.), HRW at $253.77 per tonne ($6.91/bu.), and HRS at $226.68 per tonne ($6.17/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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