[Farmmarketnews] Wednesday Ontario Commodity Report & Todd Austin Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Dec 7 15:30:02 EST 2016
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, December 7
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.3252 down 0.0029
Chicago corn closed slightly lower.
MAR17 HI 3.60 1/2 DEC17 HI 3.89 1/2
LOW 3.56 LOW 3.85 1/4
CLOSE3.58 Down 2 1/2 CLOSE 3.87 Down 2 1/2
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt U.S. $/bu $/mt Cntrct U.S. $/bu $/mt
ELEVATORS +MAR17+MAR17+MAY17
CK Low 0.65 4.23 166.53 0.80 4.67 183.85
CK High 0.65 4.23 166.53 0.85 4.72 185.82
CK Avg 0.65 -0.39 4.23 166.53 0.81 -0.33 4.68 184.18
Essex Cty 0.55 4.13 162.59 0.75 4.62 181.88
Mdsx Low 0.65 4.23 166.53 0.80 4.67 183.85
Mdsx High 0.65 4.23 166.53 0.80 4.67 183.85
Mdsx Avg 0.65 -0.39 4.23 166.53 0.80 -0.33 4.67 183.85
Hensall 0.65 4.23 166.53 0.83 4.70 184.83
Bruce 0.65 4.23 166.53 0.80 4.67 183.85
Putnam 0.65 4.23 166.53 0.80 4.67 183.85
Burford 0.65 4.23 166.53 0.80 4.67 183.85
Port Perry 1.05 4.63 182.28 0.85 4.72 185.82
Norfolk 0.70 4.28 168.50 0.80 4.67 183.85
Palmerston 0.80 4.38 172.43 0.80 4.67 183.85
Varna 0.65 4.23 166.53 0.85 4.72 185.82
Trenton 1.15 4.73 186.21 0.85 4.72 185.82
Winchester 1.15 4.73 186.21 1.10 4.97 195.66
North Gower 1.10 4.68 184.24 1.10 4.97 195.66
Huron FOB 0.85 4.43 174.40 0.85 4.72 185.82
Kent FOB 0.85 4.43 174.40 0.80 4.67 183.85
Lamb FOB 0.95 4.53 178.34 0.85 4.72 185.82
Mdsx FOB 0.65 0.70 0.75N/A 4.23 166.53 0.80 4.67 183.85
FOB SW Que 1.15 4.73 186.21N/A
Track 1.23 4.81 189.16N/A
PROCESSORS
Chat-Eth 1.15 1.18 1.23 1.21 4.73 186.21 1.00 4.87 191.72
Jhnstwn-Eth N/A N/A N/A N/A N/A
Aylmer-Eth N/A N/A N/A N/A 1.00 4.87 191.72
Sarn-Eth 1.15 1.20 1.25 1.25 4.73 186.21N/A
Kawartha N/A N/A N/A N/A N/A
London-Ing N/A N/A N/A N/A 1.10 4.97 195.66
Pt.Colb-Ing N/A N/A N/A N/A N/A
Cardnl-Ing 1.31 1.43 1.43N/A 4.89 192.51 1.15 5.02 197.63
W O Feed 1.48 5.06 199.20
US Rep 1.61 5.19 204.32
Toledo El. -0.16 3.42 134.68 -0.33 3.54 139.36
MID SD CRN 0.65 4.23
HI SD CRN 0.65 4.23
*Wet Bid
Bank of Canada Noon exchange rate was 1.3252 down 0.0029
Chicago soybeans closed slightly higher.
JAN17 HI 10.53 NOV17 HI 10.34
LOW 10.39 3/4 LOW 10.23 1/4
CLOSE10.49 Up 1 1/4 CLOSE 10.32 Up 4 1/2
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt
ELEVATORS +JAN1+MAR1+MAR17
CK Low 2.58 13.07 480.242.54 12.86 472.52
CK High 2.60 13.09 480.982.60 12.92 474.73
CK Average 2.60 -0.6113.09 480.852.57 -0.5612.89 473.44
Essex Cty 2.60 13.09 480.982.60 12.92 474.73
Mdsx Low 2.58 13.07 480.242.52 12.84 471.79
Mdsx High 2.60 13.09 480.982.55 12.87 472.89
Mdsx Average 2.59 -0.6113.08 480.612.54 -0.5912.86 472.34
Hensall 2.60 13.09 480.982.58 12.90 473.81
Bruce 2.60 13.09 480.982.55 12.87 472.89
Putnam 2.60 13.09 480.982.55 12.87 472.89
Burford 2.65 13.14 482.812.59 12.91 474.36
Port Perry 2.58 13.07 480.242.52 12.84 471.79
Norfolk 2.65 13.14 482.812.60 12.92 474.73
Palmerston 2.60 13.09 480.982.60 12.92 474.73
Varna 2.60 13.09 480.982.60 12.92 474.73
Trenton 2.60 13.09 480.982.65 12.97 476.57
Winchester 2.72 13.21 485.382.67 12.99 477.30
North Gower 2.76 13.25 486.852.64 12.96 476.20
Huron FOB 2.70 13.19 484.652.75 13.07 480.24
Kent FOB 2.70 13.19 484.652.55 12.87 472.89
Lambton FOB 2.60 13.09 480.982.70 13.02 478.40
Middlesex FOB2.75 2.82 2.82 N/A 13.24 486.492.69 13.01 478.04
PROCESSORS
Hamilton 3.17 3.23 N/A N/A 13.66 501.923.06 13.38 491.63
Windsor N/A N/A N/A N/A N/A
Winchester N/A N/A
TRANSFER
Prescott 2.96 13.45 494.203.05 13.37 491.26
Toledo El. -0.54 9.95 365.49-0.45 9.87 362.70
Bank of Canada Noon exchange rate was 1.3252 down 0.0029
Chicago wheat closed slightly to moderately lower.
MAR17 HI 4.07 1/2 JUL17 HI 4.32 1/4
LOW 3.99 1/2 LOW 4.24 3/4
CLOSE 4.01 Down 5 3/4 CLOSE 4.24 3/4 Down 7 1/2
Minni wheat closed slightly to moderately lower.
MAR17 HI 5.37 1/4 SEP17 HI 5.48
LOW 5.28 LOW 5.41 3/4
CLOSE 5.29 Down 5 CLOSE 5.41 3/4 Down 6 1/4
GFO Cash Wheat Prices - DEL Terminal
Harvest 16 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.57 0.70 0.70 0.66
CAD $/bu 4.58 4.71 4.71 5.95
CAD $/tonne 168.34 173.21 173.21 218.46
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 N/A 0.45 N/A N/A 0.60 0.60 N/A
London 0.51 0.47 0.51 N/A 0.53 0.53 0.46 N/A
Hensall 0.45 N/A 0.45 N/A 0.70 N/A 0.60 N/A
Trenton N/A N/A N/A N/A N/A N/A 0.65 N/A
Bruce 0.45 0.45 0.45 0.40 0.70 0.55 0.60 0.55
Essex N/A N/A N/A N/A N/A N/A 0.39 N/A
Norwich 0.45 N/A 0.45 N/A 0.70 N/A 0.60 N/A
Port Hope N/A 0.45 0.55 N/A N/A 0.55 0.60 N/A
Kent Bridge 0.45 N/A 0.45 N/A 0.70 N/A 0.60 N/A
Chatham N/A N/A 0.45 N/A N/A N/A 0.50 N/A
Brigden N/A N/A 0.45 N/A N/A N/A 0.50 N/A
Palmerston N/A 0.65 0.55 0.40 N/A 0.60 0.60 0.60
Varna 0.50 0.50 0.50 N/A 0.60 0.55 0.55 N/A
Mitchell 0.45 0.45 0.45 N/A 0.70 0.55 0.60 N/A
Thornton N/A N/A N/A 0.03 N/A N/A N/A N/A
North Gower N/A 0.44 0.57 0.29 N/A 0.72 0.72 0.49
W O Feed 1.44
TERMINAL
Prescott N/A N/A 0.76 0.71 N/A 0.85 0.97 0.78
PROCESSORS
Toledo FM N/A N/A 1.23 N/A N/A N/A 1.36 N/A
Toledo El. 3.71US 4.91CA 4.05US 5.35CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 17 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.83 0.64 0.64 0.55
CAD $/bu 5.08 4.88 4.88 5.97
CAD $/tonne 186.70 179.42 179.42 219.22
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 513.13
DDG's FOB Srn & Aylm 135.00 - 140.00
Wednesday, December 7, 2016
COMMODITY
PERIOD
PRICE
WEEKLY MOVEMENT
Corn CBOT
Mar
3.58
↑
9 cents
Soybeans CBOT
Jan
10.49
↑
17 cents
Wheat CBOT
Mar
4.01
↓
2 cents
Wheat Minn.
Mar
5.29
↓
5 cents
Wheat Kansas
Mar
4.00 ½
↓
9 ¾ cents
Chicago Oats
Mar
2.22 ¾
↑
10 ¾ cents
Canadian $
Dec
0.7552
↓
97 points
CORN:
Corn Futures have advanced in part to news of dryness in Argentina as well as strong demand for the U.S crop, on the part of both domestic and foreign buyers.
According to Statistics Canada, Ontario corn average yield was reported to be 158.5 bushels per acre. The drought conditions certainly limited corn production this year as yields are down. However, a scattering of timely rains has affected the range of yields across Ontario significantly.
SOYBEANS:
Soybean futures have been in an upward trend. This is largely due to demand for U.S. soybeans rather than the switch-over to the South American crop. It will be of interest to see if the USDA adjusts its export sales figures in December and where it pegs domestic supplies.
Just as the drought conditions affected corn yields, such was the case for soybean yields, as yield was pegged at 45.9 bushels per acre. The soybean crop took advantage of some favourable rains in August to achieve better than expected results (especially when surveying the crop in July). Although again, there were certainly areas in Ontario that had far poorer yields than the provincial average would lead one to believe.
WHEAT:
Ontario Farmers planted over 900,000 acres of wheat this fall, thanks to near ideal planting weather and exceptional yields this past harvest. Even with average trend line yields, there will be close to 2 million tonnes of winter wheat to market.
U.S. and global wheat stocks continue to rise, as of the November World Agricultural Supply and Demand Estimates. However, at the time of printing, the December report will have been issued.
CURRENT CROP CASH PRICES AS OF CLOSE ON December 7, 2015
SWW @ $168.35/MT ($4.58/bu), HRW @ $165.92/MT ($4.52/bu),
HRS @ $211.17/MT ($5.75/bu), SRW @ $170.78/MT ($4.65/bu).
Todd Austin, Grain Farmers of Ontario
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>
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