[Farmmarketnews] Wednesday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Apr 13 15:42:09 EDT 2016
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, April 13
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.2792 down 0.0007
Chicago corn closed moderately higher to higher.
MAY16 HI 3.74 3/4 DEC16 HI 3.84
LOW 3.63 LOW 3.73
CLOSE3.73 1/2 Up 10 3/4 CLOSE 3.84 Up 9 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 4.44 174.60 0.55 4.39 172.83
CK High 0.75 4.49 176.57 0.60 4.44 174.80
CK Avg 0.71 -0.27 4.44 174.93 0.57 -0.40 4.41 173.48
Essex Cty 0.75 4.49 176.57 0.60 4.44 174.80
Mdsx Low 0.70 4.44 174.60 0.55 4.39 172.83
Mdsx High 0.70 4.44 174.60 0.55 4.39 172.83
Mdsx Avg 0.70 -0.27 4.44 174.60 0.55 -0.41 4.39 172.83
Hensall 0.70 4.44 174.60 0.57 4.41 173.42
Bruce 0.70 4.44 174.60 0.55 4.39 172.83
Putnam 0.70 4.44 174.60 0.55 4.39 172.83
Burford 0.70 4.44 174.60 0.55 4.39 172.83
Port Perry 0.70 4.44 174.60 0.55 4.39 172.83
Norfolk 0.70 4.44 174.60 0.55 4.39 172.83
Palmerston 0.75 4.49 176.57 0.60 4.44 174.80
Varna 0.70 4.44 174.60 0.60 4.44 174.80
Trenton 0.80 4.54 178.54 0.67 4.51 177.55
Winchester 0.99 4.73 186.02 0.86 4.70 185.03
North Gower 0.72 4.46 175.39 0.80 4.64 182.67
Huron FOB 0.87 4.61 181.29 0.68 4.52 177.94
Kent FOB 0.85 4.59 180.50 0.55 4.39 172.83
Lamb FOB 0.75 4.49 176.57 0.65 4.49 176.76
Mdsx FOB 0.75 0.75 0.75N/A 4.49 176.57 0.60 4.44 174.80
FOB SW Que 1.02 4.76 187.20N/A
Track 1.17 4.91 193.10N/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 0.95 0.95 1.00 0.75 4.59 180.70
Sarn-Eth 1.05N/A 1.10 1.10 4.79 188.38N/A
Kawartha N/A N/A N/A N/A 1.00 4.84 190.54
London-Ing N/A N/A N/A N/A 0.92 4.76 187.39
Pt.Colb-Ing 1.15 1.20 1.10 1.25 4.89 192.31N/A
Cardnl-Ing N/A N/A N/A N/A 1.00 4.84 190.54
W O Feed 1.20 4.93 194.20
US Rep 1.36 5.10 200.58
Toledo El. 0.12 3.85 151.58 -0.26 3.58 141.09
MID SD CRN 0.72 1/2 4.46
HI SD CRN 0.75 4.48 1/2
*Wet Bid
Bank of Canada Noon exchange rate was 1.2792 down 0.0007
Chicago soybeans closed moderately higher.
MAY16 HI 9.57 3/4 NOV16 HI 9.67 3/4
LOW 9.37 1/4 LOW 9.48
CLOSE9.55 3/4 Up 19 1/2 CLOSE 9.66 Up 18 1/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt
ELEVATORS +JUL1+MAY1+JUL16
CK Low 2.17 11.73 430.911.93 11.59 425.86
CK High 2.25 11.81 433.852.00 11.66 428.43
CK Average 2.21 -0.3711.77 432.441.96 -0.5811.62 427.08
Essex Cty 2.25 11.81 433.852.00 11.66 428.43
Mdsx Low 2.15 11.71 430.181.91 11.57 425.12
Mdsx High 2.20 11.76 432.011.95 11.61 426.59
Mdsx Average 2.18 -0.4011.73 431.101.93 -0.6111.59 425.86
Hensall 2.20 11.76 432.011.98 11.64 427.51
Bruce 2.20 11.76 432.011.95 11.61 426.59
Putnam 2.20 11.76 432.011.95 11.61 426.59
Burford 2.18 11.74 431.281.94 11.60 426.23
Port Perry 2.15 11.71 430.181.91 11.57 425.12
Norfolk 2.25 11.81 433.851.95 11.61 426.59
Palmerston 2.20 11.76 432.011.95 11.61 426.59
Varna 2.20 11.76 432.012.00 11.66 428.43
Trenton 2.20 11.76 432.011.98 11.64 427.70
Winchester 2.09 11.65 427.972.11 11.77 432.47
North Gower 2.13 11.69 429.442.02 11.68 429.17
Huron FOB 2.30 11.86 435.692.10 11.76 432.11
Kent FOB 2.40 11.96 439.362.00 11.66 428.43
Lambton FOB 2.30 11.86 435.692.15 11.81 433.94
Middlesex FOB2.32 2.38 2.41 N/A 11.88 436.422.01 11.67 428.80
PROCESSORS
Hamilton 2.71 2.77 2.77 2.77 12.27 450.752.42 12.08 443.86
Windsor N/A N/A N/A N/A N/A
Winchester N/A N/A
TRANSFER
Prescott 1.95 11.51 422.832.35 12.01 441.29
Toledo El. -0.20 9.35 343.65-0.32 9.34 343.18
Bank of Canada Noon exchange rate was 1.2792 down 0.0007
Chicago wheat closed higher.
MAY16 HI 4.66 3/4 JUL16 HI 4.72 1/2
LOW 4.50 LOW 4.56 1/2
CLOSE 4.61 1/2 Up 9 CLOSE 4.67 1/2 Up 8 3/4
Minni wheat closed slightly higher.
MAY16 HI 5.27 1/4 SEP16 HI 5.41 1/2
LOW 5.15 1/4 LOW 5.32
CLOSE 5.20 Up 3 1/2 CLOSE 5.35 1/4 Up 3
GFO Cash Wheat Prices - DEL Terminal
Current Crop 15 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 2.90 0.72 0.65 0.50
CAD $/bu 7.51 5.33 5.27 5.70
CAD $/tonne 275.97 195.98 193.62 209.39
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 0.50 N/A N/A 0.30 0.30 N/A
London 2.79 0.36 0.55 N/A 0.63 0.31 0.31 N/A
Hensall 2.90 N/A 0.70 N/A 0.70 N/A 0.30 N/A
Trenton N/A N/A N/A N/A N/A N/A 0.35 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 0.25 N/A
Norwich 2.90 N/A 0.70 N/A 0.70 N/A 0.30 N/A
Port Hope N/A 0.55 0.85 N/A N/A 0.35 0.45 0.57
Kent Bridge 2.90 N/A -0.05 N/A 0.70 N/A 0.30 N/A
Chatham N/A 0.40 -0.05 N/A N/A 0.30 0.30 N/A
Brigden N/A N/A -0.05 N/A N/A N/A 0.30 N/A
Palmerston N/A 0.35 0.60 0.60 N/A 0.30 0.35 0.60
Varna 2.85 0.40 0.65 N/A 0.70 0.30 0.30 N/A
Mitchell 2.90 0.35 0.70 N/A 0.70 0.30 0.30 N/A
Thornton N/A N/A N/A -0.16 N/A N/A N/A N/A
North Gower N/A 0.57 0.51 0.37 N/A 0.38 0.46 0.60
TERMINAL
Prescott N/A 0.35 N/A N/A N/A 0.60 0.80 1.00
PROCESSORS
Toledo FM 3.22 N/A 1.18 N/A 1.82 N/A 1.12 N/A
Toledo El. 4.34US 5.55CA 4.53US 5.79CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 16 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.74 0.67 0.61 0.73
CAD $/bu 5.41 5.35 5.28 6.09
CAD $/tonne 198.80 196.45 194.09 223.62
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 453.83
DDG's FOB Srn & Aylm 190.00 - 195.00
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Weekly Ontario Grain Market Commentary by Marty Hibbs, Grain Farmers of Ontario
Wednesday, April 13, 2016 Closing Prices
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT May 3.71 ↑ 13 cents
Soybeans CBOT May 9.55 ↑ 45 cents
Wheat CBOT May 4.62 ↓ 1 cents
Wheat Minn. May 5.20 ↑ 5 cents
Wheat Kansas May 4.55 ↓ 6 cents
Chicago Oats May 1.92 ↑ 9 cents
Canadian $ June .7806 ↑ 1.75 points
CORN:
The USDA and WASDE reports in April suggested negative implications for corn prices, but those weaker prices didn’t really materialize as we are now trading at two month highs as of the close on April 13. Technically, nothing has changed in terms of the main indicators; however, we are now hitting stiff overhead resistance levels at the $3.75-$3.85 levels on our May Chicago charts. If we manage to close above the $3.85 level, our next resistance is the big $4 level on the lead month contract. Short term indicators are neutral while the medium and long term trend is still down.
SOYBEANS: Soybeans did take that second attempt at the $9.50 resistance and pushed through with a positive week, gaining almost fifty cents per bushel as of the close today April 13. We have cleared the first big resistance by closing today April 13 at $9.56 on the May contract. Now that we cleared that hurdle, our next target is a possible shot at the magical $10 level, which presents major resistance going forward. Support is now seen near the $9 level on the lead month contract. The short term indicators are still positive, and we now have a weekly buy signal. For now, both the short and medium term indicators are positive, but the main trend is still down.
WHEAT:
For the second week in a row, the Chicago May contract week saw little in the way of direction as the price for Chicago futures closed within pennies of last Wednesday’s price. We are still above the six month daily trend line but we are in the middle of the trading range on the weekly charts. We flashed a sell signal on the daily charts this week after the USDA report but then we witnessed a double digit rally today April 13. These mixed signals are to be ignored for the moment as today’s rally could evaporate just as fast as it appeared, if the other grains falter in the coming days. Support is now at last week’s low of $4.45 while our initial overhead resistance is at $4.80 with significant trouble at $5-$5.25. All indicators at this point are neutral or negative but the main trend is still down.
HARVEST 2016 CROP CASH PRICES as of CLOSE on April 13, 2016
SWW @ $198.09/MT ($5.39 bu), HRW @ $195.74/MT ($5.33/bu),
HRS @ $223.17/MT ($6.07/bu), SRW @ $193.40/MT ($5.26/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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