[Farmmarketnews] Thursday Ontario Commodity Report and Weekly GFO Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Thu Feb 18 15:28:43 EST 2016
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, February 18
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.3721 up 0.0037
Chicago corn closed slightly lower.
MAR16 HI 3.68 DEC16 HI 3.89 3/4
LOW 3.65 1/4 LOW 3.86 1/2
CLOSE3.65 1/2 Down 1 3/4 CLOSE 3.86 1/2 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 +MAY16+MAY16+JUL16
CK Low 1.00 4.66 183.26 0.90 4.77 187.59
CK High 1.10 4.76 187.20 1.00 4.87 191.53
CK Avg 1.03 -0.24 4.69 184.57 0.94 -0.37 4.81 189.23
Essex Cty 1.10 4.76 187.20 0.90 4.77 187.59
Mdsx Low 1.00 4.66 183.26 0.95 4.82 189.56
Mdsx High 1.00 4.66 183.26 0.95 4.82 189.56
Mdsx Avg 1.00 -0.27 4.66 183.26 0.95 -0.36 4.82 189.56
Hensall 1.00 4.66 183.26 0.95 4.82 189.56
Bruce 0.95 4.61 181.29 0.90 4.77 187.59
Putnam 0.95 4.61 181.29 0.90 4.77 187.59
Burford 1.00 4.66 183.26 0.95 4.82 189.56
Port Perry 1.00 4.66 183.26 0.95 4.82 189.56
Norfolk 1.05 4.71 185.23 0.90 4.77 187.59
Palmerston 1.05 4.71 185.23 0.90 4.77 187.59
Varna 1.00 4.66 183.26 0.95 4.82 189.56
Trenton 1.10 4.76 187.20 1.00 4.87 191.53
Winchester 1.15 4.81 189.16 1.15 5.02 197.43
North Gower 1.05 4.71 185.23 1.10 4.97 195.46
Huron FOB 1.10 4.76 187.20 0.98 4.85 190.74
Kent FOB 1.15 4.81 189.16 0.90 4.77 187.59
Lamb FOB 1.05 4.71 185.23 0.90 4.77 187.59
Mdsx FOB 1.00 1.00 1.00N/A 4.66 183.26 0.95 4.82 189.56
FOB SW Que N/A N/A
Track 1.35 5.00 196.84N/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 1.25 1.05 4.92 193.49
Sarn-Eth 1.25 1.30N/A N/A 4.91 193.10N/A
Cllngwd-Eth N/A N/A N/A N/A N/A*
London-Ing N/A N/A N/A N/A 1.20 5.07 199.40
Pt.Colb-Ing N/A 1.40 1.45 1.45 N/A
Cardnl-Ing N/A N/A N/A N/A 1.20 5.07 199.40
W O Feed 1.40 5.06 199.01
US Rep 1.70 5.36 210.82
Toledo El. 0.12 3.78 148.76 -0.32 3.55 139.72
MID SD CRN 1.05 4.70 1/2
HI SD CRN 1.10 4.75 1/2
*Wet Bid
Bank of Canada Noon exchange rate was 1.3721 up 0.0037
Chicago soybeans closed slightly lower.
MAR16 HI 8.82 3/4 NOV16 HI 8.93
LOW 8.78 LOW 8.88 1/2
CLOSE8.79 3/4 Down 2 3/4 CLOSE 8.90 1/2 Down 2 1/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt
ELEVATORS +MAR1+MAY1+MAY16
CK Low 2.72 11.52 423.202.47 11.38 417.96
CK High 2.90 11.70 429.812.65 11.56 424.57
CK Average 2.80 -0.3611.59 425.952.60 -0.5311.50 422.55
Essex Cty 2.80 11.60 426.142.65 11.56 424.57
Mdsx Low 2.70 11.50 422.462.45 11.36 417.22
Mdsx High 2.80 11.60 426.142.60 11.51 422.74
Mdsx Average 2.75 -0.3911.55 424.302.53 -0.5911.43 419.98
Hensall 2.80 11.60 426.142.63 11.53 423.65
Bruce 2.80 11.60 426.142.60 11.51 422.74
Putnam 2.80 11.60 426.142.60 11.51 422.74
Burford 2.73 11.53 423.562.48 11.39 418.33
Port Perry 2.67 11.47 421.362.42 11.33 416.12
Norfolk 2.80 11.60 426.142.60 11.51 422.74
Palmerston 2.75 11.55 424.302.65 11.56 424.57
Varna 2.80 11.60 426.142.65 11.56 424.57
Trenton 2.75 11.55 424.302.55 11.46 420.90
Winchester 2.62 11.42 419.522.62 11.53 423.47
North Gower 2.50 11.30 415.112.52 11.43 419.80
Huron FOB 2.90 11.70 429.812.70 11.61 426.41
Kent FOB 2.95 11.75 431.652.70 11.61 426.41
Lambton FOB 2.85 11.65 427.972.75 11.66 428.25
Middlesex FOB2.87 2.87 2.98 N/A 11.67 428.712.62 11.53 423.47
PROCESSORS
Hamilton 3.30 3.30 3.31 3.37 12.10 444.513.05 11.96 439.27
Windsor N/A N/A N/A N/A N/A
Winchester N/A N/A
TRANSFER
Prescott 2.90 11.70 429.813.00 11.91 437.43
Toledo El. -0.29 8.51 312.65-0.38 8.52 313.07
Bank of Canada Noon exchange rate was 1.3721 up 0.0037
Chicago wheat closed moderately lower.
MAR16 HI 4.68 3/4 JUL16 HI 4.80 3/4
LOW 4.61 3/4 LOW 4.75
CLOSE 4.62 1/4 Down 6 1/4 CLOSE 4.75 1/2 Down 4 3/4
Minni wheat closed slightly lower.
MAR16 HI 4.94 SEP16 HI 5.12 1/4
LOW 4.91 1/2 LOW 5.11 1/4
CLOSE 4.92 1/2 Down 1 1/4 CLOSE 5.11 1/2 Down 2 3/4
GFO Cash Wheat Prices - DEL Terminal
Current Crop 15 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 3.65 1.18 1.18 0.88
CAD $/bu 8.27 5.80 5.80 5.81
CAD $/tonne 304.05 213.18 213.18 213.30
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 1.00 N/A N/A 0.80 0.70 N/A
London 3.37 0.77 0.97 N/A 1.01 0.67 0.60 N/A
Hensall 3.45 N/A 1.35 N/A 1.10 N/A 0.70 N/A
Trenton N/A N/A N/A N/A N/A N/A 0.65 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 1.35 N/A 1.10 N/A 0.70 N/A
Port Hope N/A 0.90 1.35 1.25 N/A 0.65 0.70 0.65
Kent Bridge 3.45 N/A 0.65 N/A 1.10 N/A 0.70 N/A
Chatham N/A 0.80 0.55 N/A N/A 0.80 0.65 N/A
Brigden N/A N/A 0.55 N/A N/A N/A 0.65 N/A
Palmerston N/A 0.60 1.25 0.95 N/A 0.70 0.75 0.75
Varna 3.45 0.75 1.35 N/A 1.15 0.65 0.70 N/A
Mitchell 3.45 0.75 1.35 N/A 1.10 0.70 0.70 N/A
Thornton N/A N/A N/A 0.54 N/A N/A N/A N/A
North Gower N/A 1.10 1.10 0.78 N/A 0.78 0.79 0.99
TERMINAL
Prescott N/A 1.10 N/A 1.10 N/A 1.25 1.15 1.35
PROCESSORS
Toledo FM 4.34 N/A 2.00 N/A 2.67 N/A 1.64 N/A
Toledo El. 4.69US 6.45CA 4.63US 6.35CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 16 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.02 1.02 0.88 1.09
CAD $/bu 5.78 5.78 5.64 6.20
CAD $/tonne 212.26 212.26 207.22 227.91
(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 443.47
DDG's FOB Srn & Aylm 230.00
Ontario Grain Market Commentary by Marty Hibbs, Grain Farmes
Wednesday, February 17, 2016 Closing Prices
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT Mar 3.66 ↑ 05 cents
Soybeans CBOT Mar 8.80 ↑ 18 cents
Wheat CBOT Mar 4.68 ↑ 07 cents
Wheat Minn. Mar 4.93 ↑ 07 cents
Wheat Kansas Mar 4.55 ↑ 10 cents
Chicago Oats Mar 2.00 ↑ 10 cents
Canadian $ Mar .7280 ↑ 1.00 points
CORN:
On the charts: With more sideways action on the March contract, we failed to breach the $3.80 overhead trend line, which as suggested last week, would see major resistance. We are now we are heading back towards the support level of $3.60 on the March contract. From there we may take another shot at the $3.80 overhead resistance level. A close above there could provide more upside and possibly turn our daily indicators positive. 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. Meanwhile, major resistance is seen at $4 on the lead month contract. The main trend is still down.
SOYBEANS:
On the charts: The March soybeans are still confined in a narrow range of $8.50 to $9 on the charts with no clear direction. We are experiencing good short term support at $8.50 on March and a very broad base which could prove to be quite bullish in the coming months. There is well defined resistance at the $9- $9.25 levels as we have seen for the past few months. The quietness of this market is conducive of a market ready to make a significant move, but as usual, the direction is uncertain.
Our main support continues to hold at the $8.40-$8.50 level on the March contract, while our major overhead wall is between $9.25 -$9.50. For now the trend remains 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.
HARVEST 2016 CROP CASH PRICES AS OF 10: AM ON February 17, 2016
SWW @ $241.16/MT ($5.83/bu), HRW @ $214.16/MT ($5.83/bu),
HRS @ $228.77/MT ($6.23/bu), SRW @ $209.12/MT ($5.69/bu).
--
Blair Andrews
Editor, AgriLink and Farm Market News
University of Guelph, Ridgetown Campus
Tel. 519-674-1500 x 63577
Fax. 519-674-1530
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