[Farmmarketnews] Thursday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Thu Feb 4 15:37:23 EST 2016
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, February 4
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.3726 down 0.0120
Chicago corn closed slightly lower.
MAR16 HI 3.73 1/2 DEC16 HI 3.95
LOW 3.68 LOW 3.90 1/2
CLOSE3.68 1/2 Down 2 1/2 CLOSE 3.91 1/4 Down 1 3/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +MAY16+MAY16+JUL16
CK Low 1.00 4.69 184.44 0.95 4.86 191.43
CK High 1.10 4.79 188.38 1.00 4.91 193.40
CK Avg 1.03 -0.35 4.71 185.42 0.96 -0.50 4.87 191.76
Essex Cty 1.10 4.79 188.38 0.95 4.86 191.43
Mdsx Low 1.00 4.69 184.44 0.95 4.86 191.43
Mdsx High 1.00 4.69 184.44 0.95 4.86 191.43
Mdsx Avg 1.00 -0.38 4.69 184.44 0.95 -0.51 4.86 191.43
Hensall 1.00 4.69 184.44 0.95 4.86 191.43
Bruce 1.00 4.69 184.44 0.95 4.86 191.43
Putnam 1.00 4.69 184.44 0.95 4.86 191.43
Burford 1.00 4.69 184.44 0.95 4.86 191.43
Port Perry 1.00 4.69 184.44 0.95 4.86 191.43
Norfolk 1.00 4.69 184.44 0.95 4.86 191.43
Palmerston 1.10 4.79 188.38 0.95 4.86 191.43
Varna 1.00 4.69 184.44 0.95 4.86 191.43
Trenton 1.15 4.84 190.35 1.00 4.91 193.40
Winchester N/A N/A
North Gower 1.02 4.71 185.23 1.10 5.01 197.33
Huron FOB 1.05 4.74 186.41 0.95 4.86 191.43
Kent FOB 1.10 4.79 188.38 0.95 4.86 191.43
Lamb FOB 1.10 4.79 188.38 0.95 4.86 191.43
Mdsx FOB 1.00 1.05N/A N/A 4.69 184.44 0.95 4.86 191.43
FOB SW Que N/A N/A
Track 1.37 5.06 199.01N/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 1.40 1.10 5.01 197.33
Sarn-Eth 1.25 1.30N/A N/A 4.94 194.28N/A
Cllngwd-Eth N/A N/A N/A N/A N/A*
London-Ing N/A N/A N/A N/A 1.15 5.06 199.30
Pt.Colb-Ing N/A N/A N/A 1.40 N/A
Cardnl-Ing N/A N/A N/A N/A 1.20 5.11 201.27
W O Feed 1.53 1.02 5.22 205.31
US Rep 1.95 1.44 5.64 221.84
Toledo El. 0.12 3.81 149.94 -0.32 3.60 141.59
MID SD CRN 1.05 4.73 1/2
HI SD CRN 1.10 4.78 1/2
*Wet Bid
Bank of Canada Noon exchange rate was 1.3726 down 0.0120
Chicago soybeans closed narrowly mixed.
MAR16 HI 8.84 1/4 NOV16 HI 8.97
LOW 8.72 3/4 LOW 8.86 3/4
CLOSE8.74 1/2 Down 2 1/4 CLOSE 8.88 1/4 Down 3/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +MAR1+MAY1+MAY16
CK Low 2.60 11.35 416.862.48 11.36 417.50
CK High 2.85 11.60 426.042.70 11.58 425.58
CK Average 2.70 -0.5711.45 420.532.56 -0.7511.45 420.56
Essex Cty 2.80 11.55 424.212.70 11.58 425.58
Mdsx Low 2.63 11.38 417.962.46 11.34 416.77
Mdsx High 2.65 11.40 418.692.50 11.38 418.24
Mdsx Average 2.64 -0.6311.39 418.332.48 -0.8411.36 417.50
Hensall 2.65 11.40 418.692.53 11.41 419.15
Bruce 2.65 11.40 418.692.50 11.38 418.24
Putnam 2.65 11.40 418.692.50 11.38 418.24
Burford 2.66 11.41 419.062.49 11.37 417.87
Port Perry 2.60 11.35 416.862.43 11.31 415.66
Norfolk 2.60 11.35 416.862.50 11.38 418.24
Palmerston 2.85 11.60 426.042.70 11.58 425.58
Varna 2.65 11.40 418.692.55 11.43 420.07
Trenton 2.70 11.45 420.532.55 11.43 420.07
Winchester N/A N/A
North Gower 2.62 11.37 417.592.65 11.53 423.75
Huron FOB 2.75 11.50 422.372.60 11.48 421.91
Kent FOB 2.75 11.50 422.372.65 11.53 423.75
Lambton FOB 2.85 11.60 426.042.75 11.63 427.42
Middlesex FOB2.80 2.83 N/A N/A 11.55 424.212.63 11.51 423.01
PROCESSORS
Hamilton 3.19 3.19 3.27 3.34 11.94 438.542.96 11.84 435.14
Windsor N/A N/A N/A N/A N/A
Winchester N/A N/A
TRANSFER
Prescott 3.20 11.95 438.903.05 11.93 438.44
Toledo El. -0.29 8.46 310.72-0.38 8.50 312.25
Bank of Canada Noon exchange rate was 1.3726 down 0.0120
Chicago wheat closed moderately lower.
MAR16 HI 4.82 1/2 JUL16 HI 4.90 1/4
LOW 4.72 1/2 LOW 4.81 1/4
CLOSE 4.72 3/4 Down 7 1/4 CLOSE 4.81 3/4 Down 6 1/2
Minni wheat closed moderately lower.
MAR16 HI 5.03 SEP16 HI 5.24 1/2
LOW 4.94 1/4 LOW 5.16 3/4
CLOSE 4.94 1/2 Down 6 CLOSE 5.17 1/2 Down 5
GFO Cash Wheat Prices - DEL Terminal
Current Crop 15 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 3.69 1.22 1.22 0.89
CAD $/bu 8.42 5.95 5.95 5.83
CAD $/tonne 309.31 218.45 218.45 214.28
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 1.05 N/A N/A 0.75 0.70 N/A
London 3.42 0.82 1.02 N/A 1.05 0.71 0.64 N/A
Hensall 3.45 N/A 1.40 N/A 1.05 N/A 0.70 N/A
Trenton N/A N/A N/A N/A N/A N/A 0.70 N/A
Winchester N/A N/A N/A N/A N/A N/A N/A N/A
Essex N/A N/A 0.95 N/A N/A N/A 0.70 N/A
Norwich 3.45 N/A 1.40 N/A 1.15 N/A 0.70 N/A
Port Hope N/A 0.90 1.40 1.25 N/A 0.65 0.70 0.75
Kent Bridge 3.45 N/A 0.70 N/A 1.15 N/A 0.70 N/A
Chatham N/A N/A 0.60 N/A N/A 0.75 0.65 N/A
Brigden N/A N/A 0.60 N/A N/A N/A 0.65 N/A
Palmerston N/A 0.70 1.30 0.80 N/A 0.70 0.80 0.70
Varna 3.40 0.70 1.30 N/A 1.10 0.60 0.65 N/A
Mitchell 3.45 0.80 1.40 N/A 1.05 0.60 0.70 N/A
Thornton N/A N/A N/A 0.67 N/A N/A N/A N/A
North Gower N/A 1.16 1.16 0.83 N/A 0.84 0.86 1.05
TERMINAL
Prescott N/A 1.10 N/A 1.10 N/A 1.25 1.10 1.35
PROCESSORS
Toledo FM 4.38 N/A 2.04 N/A 2.69 N/A 1.66 N/A
Toledo El. 4.80US 6.59CA 4.69US 6.44CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 16 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.04 1.04 0.91 1.11
CAD $/bu 5.86 5.86 5.72 6.28
CAD $/tonne 215.33 215.33 210.28 230.85
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
Bayport Wheat 270.00
Bayport Oats 265.00
Bayport Barley 270.00
FOB Hm Soymeal 454.82
DDG's FOB Srn & Aylm 230.00
Ontario Grain Market Commentary for February 3, 2016
By Marty Hibbs, Grain Farmers of Ontario
Wednesday, February 3, 2016 Closing Prices
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT Mar 3.71 ↑ 02 cents
Soybeans CBOT Mar 8.77 ↓ 03 cents
Wheat CBOT Mar 4.80 ↑ 06 cents
Wheat Minn. Mar 5.00 ↑ 04 cents
Wheat Kansas Mar 4.68 ↑ 02 cents
Chicago Oats Mar 1.97 ↓ 04 cents
Canadian $ Mar .7254 ↑ 1.25 points
CORN:
On the charts: Another constructive week on the corn futures, with the $3.70 resistance eliminated as we suggested last week. This now sets us up for an attempt at a close above the $3.80 level as our next target. If that objective is reached, we could be primed for a shot at the all-important $4 level on the March contract as our next major overhead obstacle and a well-defined trend line.
More important than the 3.80 level being negated, is the second buy signal on my mid-term indicators. This could actually be a precursor to an eventual trend change in the coming months. Meanwhile, support continues to be at the $3.45-$3.50 level, and there is major support at the $3.20 levels based on the lead month contract. Daily indicators are flashing positive signals; however, we must still recognize that the main trend is still down.
SOYBEANS:
On the charts: The March bean contract once again continues to track sideways with no clear direction. We are experiencing good short term support at $8.70 on March, but well defined resistance at the $9 level as we have for the past few months. A close above $9 could ignite a decent rally towards the $9.25-$9.50 level. We suggest that any sharp rallies to the upside be viewed as selling opportunities.
Our main support continues to hold at the $8.40-$8.50 level on the March contract, while our overhead headwinds are $9, and again at $9.25 -$9.50. The trend is still down.
WHEAT:
On the charts: Another quiet range-bound week for Chicago wheat. Our predicted $4.50 support on March has proven to be iron clad. The charts look very supportive and all we need is news that can be interpreted as bullish or even neutral to begin our ascent towards the $5 level once again. The main trend line cuts a path through the $5.25 - $5.50 level on the lead month contract. This may take some time but if the prices remain stable and cannot go lower then there is a good chance we will move higher, even if just to test our resistance at the big $5 marker. Solid support is seen at the $4.40-$4.50 level on March charts, while overhead resistance is at $5 and major resistance is $5.25- $5.50 on the lead month. Both the medium and long term trends remain down with our short term trend flashing buy signals.
Grain Farmers of Ontario is offering another series of marketing seminars across Ontario. This time we have been focusing on “Options” on Futures. We have completed many of the seminars in January and the remaining dates for western Ontario are now completely full. We would like to thank all of those who attended and hope you enjoyed the event.
HARVEST 2016 CROP CASH PRICES AS OF 10: AM ON February 4, 2016
SWW @ $214.99/MT ($5.85/bu), HRW @ $214.99/MT ($5.85/bu),
HRS @ $232.53/MT ($6.33/bu), SRW @ $209.98/MT ($5.71/bu).
--
Blair Andrews
Editor, AgriLink and Farm Market News
University of Guelph, Ridgetown Campus
Tel. 519-674-1500 x 63577
Fax. 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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