[Farmmarketnews] Thursday Ontario Commodity Report
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Thu Aug 25 15:36:12 EDT 2016
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, August 25
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.2937 down 0.0003
Chicago corn closed slightly lower.
SEP16 HI 3.28 1/2 DEC16 HI 3.37 3/4
LOW 3.22 1/4 LOW 3.31 1/4
CLOSE3.23 1/2 Down 4 CLOSE 3.32 Down 4 1/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt U.S. $/bu $/mt Cntrct U.S. $/bu $/mt
ELEVATORS +DEC16+DEC16+DEC16
CK Low 1.15 4.39 172.63 0.85 4.17 164.17
CK High 1.15 4.39 172.63 0.85 4.17 164.17
CK Avg 1.15 0.16 4.39 172.63 0.85 -0.09 4.17 164.17
Essex Cty 1.15 4.39 172.63 0.85 4.17 164.17
Mdsx Low 1.15 4.39 172.63 0.85 4.17 164.17
Mdsx High 1.15 4.39 172.63 0.90 4.22 166.13
Mdsx Avg 1.15 0.16 4.39 172.63 0.88 -0.07 4.20 165.15
Hensall 1.15 4.39 172.63 0.90 4.22 166.13
Bruce 1.15 4.39 172.63 0.90 4.22 166.13
Putnam 1.15 4.39 172.63 0.85 4.17 164.17
Burford 1.15 4.39 172.63 0.85 4.17 164.17
Port Perry 1.15 4.39 172.63 0.85 4.17 164.17
Norfolk 1.15 4.39 172.63 0.90 4.22 166.13
Palmerston 1.15 4.39 172.63 0.85 4.17 164.17
Varna 1.15 4.39 172.63 0.90 4.22 166.13
Trenton 1.20 4.44 174.60 0.90 4.22 166.13
Winchester 1.25 4.49 176.57 1.10 4.42 174.01
North Gower 1.27 4.51 177.35 1.05 4.37 172.04
Huron FOB 1.32 4.56 179.32 0.90 4.22 166.13
Kent FOB 1.30 4.54 178.54 0.85 4.17 164.17
Lamb FOB 1.20 4.44 174.60 0.85 4.17 164.17
Mdsx FOB 1.25N/A N/A N/A 4.49 176.57 0.85 4.17 164.17
FOB SW Que 1.70 4.94 194.28N/A
Track 1.64 4.88 191.92N/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 1.00 1.00 4.32 170.07
Sarn-Eth 1.50 1.50 1.15N/A 4.74 186.41 1.15 4.47 175.98
Kawartha N/A N/A N/A N/A N/A
London-Ing N/A 1.42 1.49 1.00 1.00 4.32 170.07
Pt.Colb-Ing N/A N/A 1.68 1.05 1.05 4.37 172.04
Cardnl-Ing N/A N/A 1.35 1.15 1.15 4.47 175.98
W O Feed 1.72 4.95 194.91
US Rep 1.68 4.92 193.49
Toledo El. 0.09 3.33 130.92 -0.26 3.06 120.54
MID SD CRN 0.85 4.17
HI SD CRN 0.85 4.17
*Wet Bid
Bank of Canada Noon exchange rate was 1.2937 down 0.0003
Chicago soybeans closed moderately lower to lower.
NOV16 HI 10.05 NOV16 HI 10.05
LOW 9.74 3/4 LOW 9.74 3/4
CLOSE9.75 1/2 Down 29 3/4 CLOSE 9.75 1/2 Down 29 3/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt
ELEVATORS +NOV1+NOV1+NOV16
CK Low 2.80 12.56 461.322.50 12.26 450.29
CK High 3.05 12.81 470.502.60 12.36 453.97
CK Average 2.95 0.07 12.70 466.652.53 -0.2412.29 451.52
Essex Cty 2.95 12.71 466.832.55 12.31 452.13
Mdsx Low 2.95 12.71 466.832.48 12.24 449.56
Mdsx High 3.00 12.76 468.672.55 12.31 452.13
Mdsx Average 2.98 0.09 12.73 467.752.52 -0.2512.27 450.85
Hensall 2.98 12.73 467.752.55 12.31 452.13
Bruce 3.00 12.76 468.672.55 12.31 452.13
Putnam 3.00 12.76 468.672.55 12.31 452.13
Burford 2.98 12.74 467.932.51 12.27 450.66
Port Perry 2.95 12.71 466.832.48 12.24 449.56
Norfolk 2.90 12.66 464.992.55 12.31 452.13
Palmerston 2.95 12.71 466.832.55 12.31 452.13
Varna 2.95 12.71 466.832.55 12.31 452.13
Trenton N/A 2.60 12.36 453.97
Winchester N/A 2.43 12.19 447.72
North Gower N/A 2.63 12.39 455.07
Huron FOB 3.05 12.81 470.502.65 12.41 455.81
Kent FOB 3.05 12.81 470.502.60 12.36 453.97
Lambton FOB 3.20 12.96 476.012.55 12.31 452.13
Middlesex FOB3.05 N/A N/A 2.65 12.81 470.502.58 12.34 453.23
PROCESSORS
Hamilton 3.30 3.30 2.90 2.95 13.06 479.692.90 12.66 464.99
Windsor N/A N/A N/A N/A N/A
Winchester N/A N/A
TRANSFER
Prescott 3.00 12.76 468.673.10 12.86 472.34
Toledo El. 0.06 9.82 360.81-0.41 9.34 343.26
Bank of Canada Noon exchange rate was 1.2937 down 0.0003
Chicago wheat closed slightly lower.
SEP16 HI 4.07 3/4 JUL17 HI 4.74 1/4
LOW 4.00 3/4 LOW 4.68 3/4
CLOSE 4.01 1/4 Down 2 3/4 CLOSE 4.70 Down 1
Minni wheat closed slightly lower.
DEC16 HI 5.10 SEP17 HI 5.47
LOW 5.04 LOW 5.45 1/4
CLOSE 5.04 1/2 Down 4 1/4 CLOSE 5.45 1/4 Down 3
GFO Cash Wheat Prices - DEL Terminal
Harvest 16 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.46 0.33 0.66 0.12
CAD $/bu 4.48 4.35 4.67 5.16
CAD $/tonne 164.47 159.72 171.59 189.76
Direct MarkHarvest 2016 Harvest 2017
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 0.35 0.30 N/A N/A N/A 0.45 N/A
London 0.33 0.29 0.36 N/A 0.47 0.34 0.40 N/A
Hensall 0.30 N/A 0.30 N/A 0.55 N/A 0.45 N/A
Trenton N/A N/A 0.50 N/A N/A N/A 0.45 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 0.39 N/A
Norwich 0.30 N/A 0.30 N/A 0.55 N/A 0.45 N/A
Port Hope N/A 0.50 0.40 0.43 N/A 0.35 0.45 N/A
Kent Bridge 0.30 N/A 0.30 N/A 0.55 N/A 0.45 N/A
Chatham N/A 0.30 0.35 N/A N/A N/A 0.40 N/A
Brigden N/A N/A 0.35 N/A N/A N/A 0.40 N/A
Palmerston N/A 0.52 0.37 0.30 N/A 0.40 0.45 0.50
Varna 0.40 0.30 0.35 N/A 0.50 0.40 0.40 N/A
Mitchell 0.30 0.30 0.30 N/A 0.55 0.35 0.45 N/A
Thornton N/A N/A N/A 0.08 N/A N/A N/A N/A
North Gower N/A 0.57 0.89 0.13 N/A N/A N/A N/A
TERMINAL
Prescott N/A 0.62 0.82 0.28 N/A 0.60 0.65 0.45
PROCESSORS
Toledo FM N/A N/A 1.17 N/A N/A N/A 1.37 N/A
Toledo El. 3.94US 5.10CA 4.50US 5.81CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 17 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.72 0.66 0.40
CAD $/bu 5.42 5.36 5.10
CAD $/tonne 199.20 196.83 187.35
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 500.79
DDG's FOB Srn & Aylm 170.00 - 175.00
___
Ontario Grain Market Commentary for August 24, 2016 by Marty Hibbs, Grain Farmers of Ontario
Wednesday, August 24, 2016 Closing Prices
COMMODITY
PERIOD
PRICE
WEEKLY MOVEMENT
Corn CBOT
Dec
3.36
↓
05
cents
Soybeans CBOT
Nov
10.05
↑
01
cents
Wheat CBOT
Dec
4.26
↓
19
cents
Wheat Minn.
Dec
5.09
↓
15
cents
Wheat Kansas
Dec
4.34
↓
11
cents
Chicago Oats
Dec
1.85
↑
01
cents
Canadian $
Sep
.7737
↓
0.43
points
CORN: Our hook reversal on the corn chart from August 12 is still intact as the U.S. crop continues to indicate an excellent rating from the United States Department of Agriculture (USDA) weekly reports. Although the August 23 weekly corn condition report came in at 75% good to excellent, we still have not seen the final yield numbers. There is still a chance, as we mentioned several weeks ago, that they may fall short of the USDA's forecast which could be positive for prices at least in the short term. Daily indicators are slightly bullish but there is still a good chance we may see more harvest pressure into September. Meanwhile, our interim bottom of August 12 is in place and if the yields are less than expected, there is a chance that this our August 12 bottom will hold. Short term support is seen at $3.30 and again at $3.20 on the December contract.
Indicators are still negative, and the main trend is still down.
SOYBEANS: Soybeans continue yet again to find good support at the $9.75 level and equal resistance at the $10.25 overhead based on the November contract. The indicators are still mixed and the updated yields will play a big part in the short term direction. Until these numbers are finalized, I feel we will trade on both sides of the $10 per bushel mark based on the November contract as we are now approaching the first notice day for the September futures. Using our November contract for analysis, we see support at $9.50 and resistance at the $10.50 price points. Signals are still mixed, but if the yields are adjusted downward in September, we could still see a decent rally.
WHEAT: The December Chicago wheat broke the $4.25 low of August 12 and we traded down to $4.23 on that contract. The September contract, which is the lead month, did not make a new low; but it is currently trading within a couple of pennies of the $4 low. Our signal which we had hoped would produce some upside in prices managed only about a 30 cent rally before stalling. This, of course, corresponded with nothing but positive news on both the quality and quantity of the current wheat harvest. There is not much positive to look forward to in the sense of a technical pattern that would suggest better prices in the coming weeks. Our overhead resistance now stands at $4.30 - $4.40 on our December contract. Meanwhile, our support level is still at the $4 mark for September and once that contract expires, the support should remain the same for the December contract (currently trading near the $4.25 level). The indicators are negative, and the main trend is still down.
HARVEST 2016 CROP CASH PRICES as of CLOSE on August 10, 2016
SWW @ $165.87MT ($4.51/bu), HRW @ $161.12/MT ($4.39/bu),
HRS @ $192.01/MT ($5.23/bu), SRW @ $173.00/MT ($4.71/bu).
-----
Blair Andrews
Editor, AgriLink and Farm Market News
University of Guelph, Ridgetown Campus
Tel. 519-674-1500<callto:519-674-1500> x 63577
Fax. 519-674-1530<callto:519-674-1530>
Click on this link: farmmarketnews-unsubscribe at list.gfo.ca to unsubscribe from this report.
This Farm Market News product is sponsored by:
Grain Farmers of Ontario
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