[Farmmarketnews] Thursday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Thu Apr 7 15:34:49 EDT 2016
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, April 7
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.3163 up 0.0086
Chicago corn closed slightly higher.
MAY16 HI 3.62 DEC16 HI 3.74 1/2
LOW 3.57 1/2 LOW 3.71
CLOSE3.61 1/2 Up 3 1/2 CLOSE 3.74 1/4 Up 2 3/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt U.S. $/bu $/mt Cntrct U.S. $/bu $/mt
ELEVATORS +JUL16+JUL16+SEP16
CK Low 0.70 4.32 169.87 0.60 4.34 170.96
CK High 0.75 4.37 171.84 0.65 4.39 172.93
CK Avg 0.71 -0.33 4.32 170.20 0.62 -0.43 4.36 171.61
Essex Cty 0.75 4.37 171.84 0.65 4.39 172.93
Mdsx Low 0.70 4.32 169.87 0.60 4.34 170.96
Mdsx High 0.70 4.32 169.87 0.60 4.34 170.96
Mdsx Avg 0.70 -0.33 4.32 169.87 0.60 -0.44 4.34 170.96
Hensall 0.70 4.32 169.87 0.60 4.34 170.96
Bruce 0.70 4.32 169.87 0.60 4.34 170.96
Putnam 0.70 4.32 169.87 0.60 4.34 170.96
Burford 0.70 4.32 169.87 0.60 4.34 170.96
Port Perry 0.70 4.32 169.87 0.60 4.34 170.96
Norfolk 0.70 4.32 169.87 0.60 4.34 170.96
Palmerston 0.75 4.37 171.84 0.65 4.39 172.93
Varna 0.70 4.32 169.87 0.60 4.34 170.96
Trenton 0.80 4.42 173.81 0.70 4.44 174.89
Winchester 0.99 4.61 181.29 0.90 4.64 182.77
North Gower 0.77 4.39 172.63 0.85 4.59 180.80
Huron FOB 0.87 4.49 176.57 0.68 4.42 174.11
Kent FOB 0.85 4.47 175.78 0.60 4.34 170.96
Lamb FOB 0.80 4.42 173.81 0.65 4.39 172.93
Mdsx FOB 0.75 0.80N/A N/A 4.37 171.84 0.65 4.39 172.93
FOB SW Que 1.00 4.62 181.68N/A
Track 1.17 4.78 188.18N/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 1.05 1.05 1.10 0.80 4.54 178.83
Sarn-Eth 1.05N/A 1.10 1.10 4.67 183.65N/A
Kawartha N/A N/A N/A N/A 1.05 4.79 188.67
London-Ing N/A N/A N/A N/A 0.87 4.61 181.59
Pt.Colb-Ing N/A 1.15 1.05 1.20 N/A
Cardnl-Ing N/A N/A N/A N/A 0.95 4.69 184.74
W O Feed 1.21 4.83 190.11
US Rep 1.41 5.03 197.83
Toledo El. 0.14 3.76 148.01 -0.26 3.48 136.98
MID SD CRN 0.72 1/2 4.34
HI SD CRN 0.75 4.36 1/2
*Wet Bid
Bank of Canada Noon exchange rate was 1.3163 up 0.0086
Chicago soybeans closed slightly lower.
MAY16 HI 9.09 3/4 NOV16 HI 9.24
LOW 9.03 1/2 LOW 9.18 1/4
CLOSE9.04 1/2 Down 3 1/2 CLOSE 9.19 1/2 Down 2 3/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt
ELEVATORS +JUL1+MAY1+JUL16
CK Low 2.39 11.44 420.162.15 11.35 416.86
CK High 2.50 11.55 424.212.25 11.45 420.53
CK Average 2.42 -0.3311.46 421.082.18 -0.5411.38 418.02
Essex Cty 2.55 11.60 426.042.25 11.45 420.53
Mdsx Low 2.37 11.42 419.432.15 11.35 416.86
Mdsx High 2.40 11.45 420.532.17 11.37 417.59
Mdsx Average 2.39 -0.3511.43 419.982.16 -0.5611.36 417.22
Hensall 2.43 11.47 421.452.18 11.37 417.78
Bruce 2.40 11.45 420.532.15 11.35 416.86
Putnam 2.45 11.50 422.372.20 11.40 418.69
Burford 2.40 11.45 420.532.20 11.40 418.69
Port Perry 2.37 11.42 419.432.17 11.37 417.59
Norfolk 2.40 11.45 420.532.15 11.35 416.86
Palmerston 2.50 11.55 424.212.20 11.40 418.69
Varna 2.45 11.50 422.372.20 11.40 418.69
Trenton 2.40 11.45 420.532.20 11.40 418.69
Winchester 2.33 11.38 417.962.37 11.57 424.94
North Gower 2.31 11.36 417.222.26 11.46 420.90
Huron FOB 2.60 11.65 427.882.25 11.45 420.53
Kent FOB 2.55 11.60 426.042.20 11.40 418.69
Lambton FOB 2.55 11.60 426.042.40 11.60 426.04
Middlesex FOB2.54 2.60 2.63 N/A 11.59 425.682.30 11.50 422.37
PROCESSORS
Hamilton 2.93 2.93 3.02 3.02 11.98 440.012.64 11.84 434.86
Windsor N/A N/A N/A N/A N/A
Winchester N/A N/A
TRANSFER
Prescott 2.15 11.20 411.352.60 11.80 433.39
Toledo El. -0.21 8.83 324.62-0.33 8.87 325.78
Bank of Canada Noon exchange rate was 1.3163 up 0.0086
Chicago wheat closed moderately lower.
MAY16 HI 4.65 1/4 JUL16 HI 4.72
LOW 4.56 3/4 LOW 4.64
CLOSE 4.57 Down 6 CLOSE 4.64 1/2 Down 5 1/4
Minni wheat closed slightly lower.
MAY16 HI 5.18 SEP16 HI 5.36 1/2
LOW 5.13 1/4 LOW 5.32
CLOSE 5.13 1/2 Down 3 CLOSE 5.32 Down 3
GFO Cash Wheat Prices - DEL Terminal
Current Crop 15 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 3.08 0.85 0.78 0.63
CAD $/bu 7.65 5.42 5.35 5.77
CAD $/tonne 281.16 199.03 196.62 211.83
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 0.45 0.40 N/A
London 3.01 0.52 0.71 N/A 0.80 0.47 0.47 N/A
Hensall 3.05 N/A 0.85 N/A 0.75 N/A 0.40 N/A
Trenton N/A N/A N/A N/A N/A N/A 0.50 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 0.40 N/A
Norwich 3.05 N/A 0.85 N/A 0.75 N/A 0.40 N/A
Port Hope N/A 0.55 0.85 N/A N/A 0.35 0.45 0.55
Kent Bridge 3.05 N/A 0.10 N/A 0.75 N/A 0.40 N/A
Chatham N/A 0.55 0.10 N/A N/A 0.45 0.45 N/A
Brigden N/A N/A 0.10 N/A N/A N/A 0.45 N/A
Palmerston N/A 0.40 0.75 0.65 N/A 0.45 0.45 0.60
Varna 3.05 0.60 0.85 N/A 0.85 0.45 0.45 N/A
Mitchell 3.05 0.40 0.85 N/A 0.75 0.35 0.40 N/A
Thornton N/A N/A N/A 0.03 N/A N/A N/A N/A
North Gower N/A 0.94 0.94 0.72 N/A 0.68 0.77 0.90
TERMINAL
Prescott N/A 0.50 N/A N/A N/A 0.75 0.85 1.00
PROCESSORS
Toledo FM 3.41 N/A 1.57 N/A 1.99 N/A 1.26 N/A
Toledo El. 4.49US 5.90CA 4.55US 5.98CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 16 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.00 0.94 0.87 1.02
CAD $/bu 5.65 5.58 5.52 6.34
CAD $/tonne 207.49 205.07 202.66 232.85
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 423.07
DDG's FOB Srn & Aylm 190.00 - 205.00
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Ontario Grain Market Commentary by Marty Hibbs, Grain Farmers of Ontario
Wednesday, April 6, 2016 Closing Prices
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT May 3.58 ↓ 9 cents
Soybeans CBOT May 9.08 ↓ 1 cents
Wheat CBOT May 4.63 ↓ 10 cents
Wheat Minn. May 5.15 ↓ 13 cents
Wheat Kansas May 4.61 ↓ 15 cents
Chicago Oats May 1.83 ↓ 2 cents
Canadian $ June .7626 ↓ .75 points
CORN:
Since the big surprise in last week’s USDA planting intentions for corn, we have adjusted our support and resistance lines on the May contract. Last week’s action took us back below the $3.60 level, and we actually got a sell signal on the daily charts for that close. However, we are now trying to crawl back over the $3.60 trend line, and if we can close convincingly above there in the coming days, we could be back in the game. If we stumble, our next support level is now at $3.40 on the May chart. This is an important support area, and a close below $3.40 would set us up for a challenge of the two year old bottom at $3.20 on the lead month contract. Short term indicators are neutral while the medium and long term trend is still down.
SOYBEANS:
Soybeans had a short lived rally after the USDA’s friendly numbers last week, but after making new six month highs, it quickly lost its momentum and they are basically unchanged for the week. The short term indicators are still positive, but we failed to reach our initial overhead resistance at the $9.30-$9.50 level on the May contract. We could see another attempt in the coming days. If we manage to close above the $9.50 level, I feel we will have a good chance of challenging the $10 level in the coming weeks. For now, both the short and medium term indicators are positive while the long term trend is still down.
WHEAT: This week saw little in the way of direction for the wheat market as the price for Chicago futures closed at the same price as last Wednesday’s report. We are still above the six month daily trend line but we are in the middle of the trading range on the weekly charts. There is a lot of overhead resistance at the $5 level, and that could limit our upside in the months ahead. Initial overhead resistance is at $4.80 with significant trouble at $5-$5.25. For now, short term signals are positive while the weekly charts are neutral but the long term trends remain down.
HARVEST 2016 CROP CASH PRICES as of CLOSE on April 6, 2016
SWW @ $209.55MT ($5.70bu), HRW @ $207.14/MT ($5.64/bu),
HRS @ $233.63/MT ($6.36/bu), SRW @ $204.73/MT ($5.57/bu).
______________
Blair Andrews
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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Grain Farmers of Ontario
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