[Farmmarketnews] Thursday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Thu Dec 15 15:45:33 EST 2016
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, December 15
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.3397 up 0.0274
Chicago corn closed slightly lower.
MAR17 HI 3.63 DEC17 HI 3.91 1/2
LOW 3.56 1/4 LOW 3.85 1/4
CLOSE3.56 1/2 Down 5 1/2 CLOSE 3.86 Down 4
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 4.22 165.94 0.80 4.66 183.46
CK High 0.65 4.22 165.94 0.85 4.71 185.42
CK Avg 0.65 -0.40 4.22 165.94 0.81 -0.35 4.67 183.78
Essex Cty 0.55 4.12 162.00 0.75 4.61 181.49
Mdsx Low 0.65 4.22 165.94 0.80 4.66 183.46
Mdsx High 0.65 4.22 165.94 0.80 4.66 183.46
Mdsx Avg 0.65 -0.40 4.22 165.94 0.80 -0.36 4.66 183.46
Hensall 0.65 4.22 165.94 0.83 4.69 184.44
Bruce 0.65 4.22 165.94 0.80 4.66 183.46
Putnam 0.60 4.17 163.97 0.80 4.66 183.46
Burford 0.65 4.22 165.94 0.80 4.66 183.46
Port Perry 1.10 4.67 183.65 0.90 4.76 187.39
Norfolk 0.75 4.32 169.87 0.80 4.66 183.46
Palmerston 0.80 4.37 171.84 0.80 4.66 183.46
Varna 0.60 4.17 163.97 0.80 4.66 183.46
Trenton 1.15 4.72 185.62 0.90 4.76 187.39
Winchester 1.15 4.72 185.62 1.12 4.98 196.05
North Gower 1.10 4.67 183.65 1.10 4.96 195.27
Huron FOB 0.92 4.49 176.57 0.87 4.73 186.21
Kent FOB 0.85 4.42 173.81 0.80 4.66 183.46
Lamb FOB 0.95 4.52 177.75 0.80 4.66 183.46
Mdsx FOB 0.70 0.70N/A N/A 4.27 167.91 0.80 4.66 183.46
FOB SW Que 1.10 4.67 183.65N/A
Track 1.23 4.79 188.57N/A
PROCESSORS
Chat-Eth 1.15 1.18 1.23 1.21 4.72 185.62 1.00 4.86 191.33
Jhnstwn-Eth N/A N/A N/A N/A N/A
Aylmer-Eth N/A N/A N/A N/A 1.00 4.86 191.33
Sarn-Eth 1.15 1.20 1.25 1.25 4.72 185.62N/A
Kawartha N/A N/A N/A N/A N/A
London-Ing N/A N/A N/A N/A 1.05 4.91 193.30
Pt.Colb-Ing N/A N/A N/A N/A N/A
Cardnl-Ing 1.31 1.43N/A N/A 4.88 191.92 1.10 4.96 195.27
W O Feed 1.48 5.05 198.77
US Rep 1.73 5.30 208.45
Toledo El. -0.13 3.43 135.10 -0.33 3.53 138.86
MID SD CRN 0.65 4.21 1/2
HI SD CRN 0.65 4.21 1/2
*Wet Bid
Bank of Canada Noon exchange rate was 1.3397 up 0.0274
Chicago soybeans closed slightly higher.
JAN17 HI 10.38 1/2 NOV17 HI 10.24 1/2
LOW 10.18 1/2 LOW 10.11
CLOSE10.29 Up 5 1/4 CLOSE 10.16 1/4 Up 1/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt
ELEVATORS +JAN1+MAR1+MAR17
CK Low 2.60 12.89 473.632.55 12.71 467.10
CK High 2.65 12.94 475.462.62 12.78 469.68
CK Average 2.61 -0.6212.90 473.932.58 -0.5912.74 468.15
Essex Cty 2.60 12.89 473.632.60 12.76 468.94
Mdsx Low 2.60 12.89 473.632.55 12.71 467.10
Mdsx High 2.65 12.94 475.462.60 12.76 468.94
Mdsx Average 2.63 -0.6112.92 474.552.58 -0.6012.74 468.02
Hensall 2.60 12.89 473.632.58 12.74 468.02
Bruce 2.60 12.89 473.632.55 12.71 467.10
Putnam 2.45 12.74 468.112.40 12.56 461.59
Burford 2.72 13.01 478.042.67 12.83 471.51
Port Perry 2.65 12.94 475.462.60 12.76 468.94
Norfolk 2.65 12.94 475.462.60 12.76 468.94
Palmerston 2.65 12.94 475.462.65 12.81 470.78
Varna 2.45 12.74 468.112.45 12.61 463.43
Trenton 2.65 12.94 475.462.60 12.76 468.94
Winchester 2.70 12.99 477.302.60 12.76 468.94
North Gower 2.70 12.99 477.302.74 12.90 474.09
Huron FOB 2.75 13.04 479.142.70 12.86 472.62
Kent FOB 2.70 12.99 477.302.55 12.71 467.10
Lambton FOB 2.65 12.94 475.462.75 12.91 474.45
Middlesex FOB2.91 2.91 N/A N/A 13.20 485.022.70 12.86 472.62
PROCESSORS
Hamilton 3.25 3.25 N/A N/A 13.54 497.513.10 13.26 487.31
Windsor N/A N/A N/A N/A N/A
Winchester N/A N/A
TRANSFER
Prescott 2.93 13.22 485.753.06 13.22 485.84
Toledo El. -0.49 9.80 359.96-0.45 9.71 356.78
Bank of Canada Noon exchange rate was 1.3397 up 0.0274
Chicago wheat closed moderately lower.
MAR17 HI 4.18 1/4 JUL17 HI 4.40 3/4
LOW 4.08 1/2 LOW 4.32 1/2
CLOSE 4.09 1/4 Down 8 3/4 CLOSE 4.33 3/4 Down 7 1/4
Minni wheat closed slightly lower.
MAR17 HI 5.45 SEP17 HI 5.48 3/4
LOW 5.37 LOW 5.43
CLOSE 5.38 Down 3 1/4 CLOSE 5.43 1/2 Down 5 3/4
GFO Cash Wheat Prices - DEL Terminal
Harvest 16 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.63 0.57 0.70 0.53
CAD $/bu 4.72 4.66 4.79 5.91
CAD $/tonne 173.60 171.15 176.05 217.09
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 0.60 N/A N/A 0.60 0.60 N/A
London 0.65 0.65 0.65 N/A 0.59 0.59 0.53 N/A
Hensall 0.55 N/A 0.55 N/A 0.70 N/A 0.60 N/A
Trenton N/A N/A N/A N/A N/A N/A 0.70 N/A
Bruce 0.50 0.65 0.50 0.40 0.70 0.60 0.60 0.60
Essex N/A N/A N/A N/A N/A N/A 0.38 N/A
Norwich 0.55 N/A 0.55 N/A 0.70 N/A 0.60 N/A
Port Hope N/A 0.50 0.60 N/A N/A 0.55 0.60 N/A
Kent Bridge 0.55 N/A 0.55 N/A 0.70 N/A 0.60 N/A
Chatham N/A N/A 0.65 N/A N/A N/A 0.60 N/A
Brigden N/A N/A 0.65 N/A N/A N/A 0.60 N/A
Palmerston N/A 0.65 0.55 0.40 N/A 0.60 0.60 0.60
Varna 0.55 0.55 0.55 N/A 0.60 0.55 0.55 N/A
Mitchell 0.55 0.55 0.55 N/A 0.70 0.55 0.60 N/A
Thornton N/A N/A N/A 0.17 N/A N/A N/A N/A
North Gower N/A 0.46 0.59 0.29 N/A 0.85 0.85 0.60
W O Feed 1.43
TERMINAL
Prescott N/A N/A 0.80 0.65 N/A 0.85 1.01 0.71
PROCESSORS
Toledo FM N/A N/A 1.37 N/A N/A N/A 1.44 N/A
Toledo El. 3.84US 5.12CA 4.14US 5.51CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 17 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.90 0.84 0.84 0.74
CAD $/bu 5.24 5.18 5.18 6.17
CAD $/tonne 192.62 190.18 190.18 226.74
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 513.69
DDG's FOB Srn & Aylm 135.00 - 140.00
Ontario Grain Market Commentary for December 14, 2016 by Marty Hibbs, Grain Farmers of Ontario
Wednesday, December 14, 2016 Closing Prices
COMMODITY
PERIOD
PRICE
WEEKLY MOVEMENT
Corn CBOT
Mar
3.62
↑
02
cents
Soybeans CBOT
Mar
10.34
↓
14
cents
Wheat CBOT
Mar
4.18
↑
02
cents
Wheat Minn.
Mar
5.41
↑
05
cents
Wheat Kansas
Mar
4.20
↑
07
cents
Chicago Oats
Mar
2.30
↑
05
cents
Canadian $
Mar
.7544
↓
0.59
points
CORN: Corn tracked sideways for the past week, but we received a red buy signal on the daily chart on December 13. Of course, this is short term, but looking at the charts we can see a nice base building in the $3.40-$3.60 area. A close above $3.60 could see an extended move towards the October highs around our next resistance level of $3.70. Our Labour Day low is still very much intact, and it is looking more and more like the bottom as time passes. We would need a close below $3.30 before we would likely challenge that low. Meanwhile, our overhead resistance remains at the $3.60-$3.70 level, based on the close of the March contract. Support is seen at $3.35 on a close. Although indicators are mixed, the main trend is still down, but forming a nice base.
SOYBEANS: We have switched over to the March soybean contract due to the first notice day for the January contract occurring during the holiday period. Our resistance level of $10.70 has been tested twice this month and we failed to close above it. There is a chance we could see a pullback to find our support level. Our first line of support on the March beans is $10.25, and again at $10. Indicators are still mixed, but the primary trend is still down.
WHEAT: Our initial overhead resistance of $4.20 was reached as of this writing, and the March contract closed the day at $4.18. Technicals are looking more constructive as long as the March contract can manage to stay above the $4 level. If we can manage a close above the $4.25 level, there is a good chance we might test the October highs at $4.45. On the other hand, if we continue to test that floor, there is a good chance we could re-test the Labour Day lows of $3.60 again. Meanwhile, our overhead resistance on the March contract is at the $4.20-$4.30 level. The December grain contracts all expired on December 14, which might reduce pressure on the March future prices for the next week or so. Looking at the big picture, the weekly chart still has major support at the lows of $3.60. Short term indicators are neutral, while the intermediate and primary trends are still down.
2016 CROP CASH PRICES as of close on December 14, 2016
SWW @ $176.85 ($4.81/bu), HRW @ $174.41/MT ($4.75/bu),
HRS @ $217.28/MT ($5.91/bu), SRW @ $179.28/MT ($4.88/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>
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This Farm Market News product is sponsored by:
Grain Farmers of Ontario
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