[Farmmarketnews] Wednesday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Dec 21 15:39:26 EST 2016
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, December 21
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.3401 up 0.0023
Chicago corn closed slightly lower.
MAR17 HI 3.51 1/4 DEC17 HI 3.82 1/2
LOW 3.46 3/4 LOW 3.78
CLOSE3.47 1/4 Down 3 CLOSE 3.78 1/4 Down 3 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 4.12 162.30 0.80 4.58 180.41
CK High 0.65 4.12 162.30 0.85 4.63 182.37
CK Avg 0.65 -0.39 4.12 162.30 0.81 -0.35 4.59 180.73
Essex Cty 0.55 4.02 158.36 0.75 4.53 178.44
Mdsx Low 0.65 4.12 162.30 0.80 4.58 180.41
Mdsx High 0.65 4.12 162.30 0.85 4.63 182.37
Mdsx Avg 0.65 -0.39 4.12 162.30 0.83 -0.34 4.61 181.39
Hensall 0.65 4.12 162.30 0.85 4.63 182.37
Bruce 0.65 4.12 162.30 0.85 4.63 182.37
Putnam 0.65 4.12 162.30 0.80 4.58 180.41
Burford 0.65 4.12 162.30 0.80 4.58 180.41
Port Perry 1.10 4.57 180.01 0.90 4.68 184.34
Norfolk 0.75 4.22 166.23 0.80 4.58 180.41
Palmerston 0.80 4.27 168.20 0.80 4.58 180.41
Varna 0.65 4.12 162.30 0.85 4.63 182.37
Trenton 1.20 4.67 183.95 0.90 4.68 184.34
Winchester 0.99 4.46 175.68 0.89 4.67 183.95
North Gower 1.10 4.57 180.01 1.10 4.88 192.22
Huron FOB 0.95 4.42 174.11 0.87 4.65 183.16
Kent FOB 0.85 4.32 170.17 0.80 4.58 180.41
Lamb FOB 1.00 4.47 176.07 0.85 4.63 182.37
Mdsx FOB 0.70 0.70N/A N/A 4.17 164.26 0.80 4.58 180.41
FOB SW Que 1.20 4.67 183.95N/A
Track 1.27 4.74 186.51N/A
PROCESSORS
Chat-Eth 1.15 1.18 1.23 1.21 4.62 181.98 1.05 4.83 190.25
Jhnstwn-Eth N/A N/A N/A N/A N/A
Aylmer-Eth N/A N/A N/A N/A 1.00 4.78 188.28
Sarn-Eth 1.15 1.20 1.25 1.25 4.62 181.98N/A
Kawartha N/A N/A N/A N/A N/A
London-Ing N/A N/A N/A N/A 1.05 4.83 190.25
Pt.Colb-Ing N/A N/A N/A N/A N/A
Cardnl-Ing 1.31N/A 1.43N/A 4.78 188.28 1.10 4.88 192.22
W O Feed 1.53 5.00 196.86
US Rep 1.74 5.21 205.21
Toledo El. -0.13 3.34 131.43 -0.33 3.45 135.75
MID SD CRN 0.65 4.12 1/4
HI SD CRN 0.65 4.12 1/4
*Wet Bid
Bank of Canada Noon exchange rate was 1.3401 up 0.0023
Chicago soybeans closed slightly higher.
JAN17 HI 10.12 1/4 NOV17 HI 10.02
LOW 10.05 LOW 9.95
CLOSE10.06 3/4 Up 1 1/2 CLOSE 9.97 1/2 Up 3/4
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 12.67 465.452.50 12.48 458.38
CK High 2.70 12.77 469.132.60 12.58 462.05
CK Average 2.65 -0.5712.72 467.412.56 -0.6012.54 460.58
Essex Cty 2.60 12.67 465.452.55 12.53 460.21
Mdsx Low 2.65 12.72 467.292.54 12.52 459.85
Mdsx High 2.67 12.74 468.022.55 12.53 460.21
Mdsx Average 2.66 -0.5612.73 467.662.55 -0.6112.52 460.03
Hensall 2.68 12.74 468.212.58 12.55 461.13
Bruce 2.65 12.72 467.292.55 12.53 460.21
Putnam 2.60 12.67 465.452.55 12.53 460.21
Burford 2.74 12.81 470.602.61 12.59 462.42
Port Perry 2.67 12.74 468.022.54 12.52 459.85
Norfolk 2.70 12.77 469.132.60 12.58 462.05
Palmerston 2.65 12.72 467.292.60 12.58 462.05
Varna 2.70 12.77 469.132.65 12.63 463.89
Trenton 2.70 12.77 469.132.65 12.63 463.89
Winchester 2.69 12.76 468.762.71 12.69 466.09
North Gower 2.66 12.73 467.662.69 12.67 465.36
Huron FOB 2.85 12.92 474.642.70 12.68 465.73
Kent FOB 2.75 12.82 470.962.55 12.53 460.21
Lambton FOB 2.70 12.77 469.132.75 12.73 467.56
Middlesex FOB2.84 2.84 N/A N/A 12.91 474.272.67 12.65 464.62
PROCESSORS
Hamilton 3.22 3.22 N/A N/A 13.29 488.233.10 13.08 480.42
Windsor N/A N/A N/A N/A N/A
Winchester N/A N/A
TRANSFER
Prescott 2.96 13.03 478.683.09 13.07 480.06
Toledo El. -0.43 9.64 354.17-0.45 9.52 349.81
Bank of Canada Noon exchange rate was 1.3401 up 0.0023
Chicago wheat closed slightly lower.
MAR17 HI 4.04 1/2 JUL17 HI 4.30 3/4
LOW 3.99 LOW 4.25 3/4
CLOSE 3.99 1/2 Down 3 3/4 CLOSE 4.26 1/2 Down 4
Minni wheat closed slightly lower.
MAR17 HI 5.42 1/2 SEP17 HI 5.46 1/2
LOW 5.38 1/2 LOW 5.44
CLOSE 5.39 1/2 Down 1 1/4 CLOSE 5.44 1/2 Down 1 1/4
GFO Cash Wheat Prices - DEL Terminal
Harvest 16 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.62 0.55 0.68 0.56
CAD $/bu 4.61 4.55 4.68 5.95
CAD $/tonne 169.50 167.04 171.96 218.70
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 0.70 N/A N/A 0.60 0.60 N/A
London 0.62 0.62 0.62 N/A 0.64 0.57 0.57 N/A
Hensall 0.70 N/A 0.70 N/A 0.70 N/A 0.60 N/A
Trenton N/A N/A N/A N/A N/A N/A 0.80 N/A
Bruce 0.70 0.65 0.70 0.40 0.70 0.60 0.60 0.60
Essex N/A N/A N/A N/A N/A N/A 0.45 N/A
Norwich 0.70 N/A 0.70 N/A 0.70 N/A 0.60 N/A
Port Hope N/A 0.70 0.70 N/A N/A 0.55 0.60 N/A
Kent Bridge 0.70 N/A 0.70 N/A 0.70 N/A 0.60 N/A
Chatham N/A N/A 0.70 N/A N/A N/A 0.60 N/A
Brigden N/A N/A 0.70 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 0.70 0.70 0.70 N/A 0.65 0.60 0.60 N/A
Mitchell 0.70 0.70 0.70 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 0.45 0.59 0.35 N/A 0.89 0.89 0.66
W O Feed 1.51
TERMINAL
Prescott N/A N/A 0.78 0.65 N/A 0.85 1.00 0.71
PROCESSORS
Toledo FM N/A N/A 1.35 N/A N/A N/A 1.44 N/A
Toledo El. 3.85US 5.15CA 4.07US 5.44CA
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 0.77
CAD $/bu 5.17 5.10 5.10 6.21
CAD $/tonne 189.94 187.48 187.48 228.27
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 519.75
DDG's FOB Srn & Aylm 135.00 - 140.00
---
Ontario Grain Market Commentary for December 21, 2016
By Marty Hibbs, Grain Farmers of Ontario
Wednesday, December 21, 2016 Closing Prices
COMMODITY
PERIOD
PRICE
WEEKLY MOVEMENT
Corn CBOT
Mar
3.48
↓
14
cents
Soybeans CBOT
Mar
10.19
↓
15
cents
Wheat CBOT
Mar
4.00
↓
18
cents
Wheat Minn.
Mar
5.39
↓
02
cents
Wheat Kansas
Mar
4.08
↓
12
cents
Chicago Oats
Mar
2.23
↓
07
cents
Canadian $
Mar
.7468
↓
0.79
points
CORN: Another quiet week as corn remained range-bound in our $3.40 - $3.60 pattern. We are in need of a break away from this range to see a definitive move either higher towards the $3.70 resistance level or a re-test of the lows of Labour Day. 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 are approaching our support level at the $10 level on the January contract which is also a 50% pullback from the $10.75 March highs and the $9.50 lows. Our resistance level of $10.70 has been tested twice this month and we failed to close above it. We are now back to our initial support line at $10. Indicators are still mixed, but the primary trend is still down.
WHEAT: Our initial overhead resistance of $4.20 proved to be the end of the road for the last rally. As suspected, we are now heading back to test support and we are currently trading at the $4 level on the March contract. Failure to hold around this level could incite a further decline to test the Labour Day lows at the $3.60 level in the coming weeks. Daily support is still at $4.00 on the March contract while the weekly chart has major support at the lows of $3.60, but failure to stay above that level could produce lower prices into the New Year. All indicators, including the intermediate and primary trends, are still down.
2016 CROP CASH PRICES as of close on December 21, 2016
SWW @ $169.73 ($4.62/bu), HRW @ $167.27/MT ($4.55/bu),
HRS @ $218.92/MT ($5.96/bu), SRW @ $172.19/MT ($4.69/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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