[Farmmarketnews] Thursday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Thu Feb 25 15:40:48 EST 2016
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, February 25
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.3575 down 0.0191
Chicago corn closed slightly lower.
MAR16 HI 3.61 1/2 DEC16 HI 3.85 1/4
LOW 3.55 LOW 3.79 1/2
CLOSE3.55 1/2 Down 4 1/4 CLOSE 3.79 3/4 Down 4
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 4.56 179.32 0.90 4.70 184.93
CK High 1.05 4.61 181.29 1.00 4.80 188.87
CK Avg 1.01 -0.18 4.56 179.65 0.92 -0.31 4.71 185.59
Essex Cty 1.00 4.56 179.32 0.90 4.70 184.93
Mdsx Low 1.00 4.56 179.32 0.90 4.70 184.93
Mdsx High 1.00 4.56 179.32 0.90 4.70 184.93
Mdsx Avg 1.00 -0.19 4.56 179.32 0.90 -0.32 4.70 184.93
Hensall 1.00 4.56 179.32 0.93 4.72 185.92
Bruce 1.00 4.56 179.32 0.90 4.70 184.93
Putnam 1.00 4.56 179.32 0.90 4.70 184.93
Burford 1.00 4.56 179.32 0.90 4.70 184.93
Port Perry 1.00 4.56 179.32 0.90 4.70 184.93
Norfolk 1.00 4.56 179.32 0.90 4.70 184.93
Palmerston 1.00 4.56 179.32 0.90 4.70 184.93
Varna 1.00 4.56 179.32 0.95 4.75 186.90
Trenton 1.10 4.66 183.26 1.00 4.80 188.87
Winchester 1.07 4.63 182.08 1.08 4.88 192.02
North Gower 1.05 4.61 181.29 1.10 4.90 192.81
Huron FOB 1.10 4.66 183.26 0.98 4.78 188.08
Kent FOB 1.10 4.66 183.26 0.90 4.70 184.93
Lamb FOB 1.05 4.61 181.29 0.90 4.70 184.93
Mdsx FOB 1.05 1.05 1.05N/A 4.61 181.29 1.00 4.80 188.87
FOB SW Que N/A N/A
Track 1.40 4.96 195.07N/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 1.30 1.05 4.85 190.84
Sarn-Eth N/A 1.30 1.30 1.30 N/A
Cllngwd-Eth N/A N/A N/A N/A N/A*
London-Ing N/A N/A N/A N/A 1.10 4.90 192.81
Pt.Colb-Ing N/A 1.35 1.40 1.40 N/A
Cardnl-Ing N/A N/A N/A N/A 1.20 5.00 196.74
W O Feed 1.38 4.94 194.28
US Rep 1.70 5.26 206.88
Toledo El. 0.12 3.68 144.75 -0.31 3.49 137.25
MID SD CRN 1.02 1/2 4.58
HI SD CRN 1.05 4.60 1/2
*Wet Bid
Bank of Canada Noon exchange rate was 1.3575 down 0.0191
Chicago soybeans closed slightly lower.
MAR16 HI 8.71 NOV16 HI 8.87
LOW 8.58 1/2 LOW 8.76 1/4
CLOSE8.59 Down 8 1/2 CLOSE 8.76 3/4 Down 6
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt
ELEVATORS +MAY1+MAY1+MAY16
CK Low 2.70 11.29 414.842.46 11.23 412.54
CK High 2.90 11.49 422.192.65 11.42 419.52
CK Average 2.77 -0.2011.36 417.292.54 -0.4111.31 415.48
Essex Cty 2.70 11.29 414.842.60 11.37 417.68
Mdsx Low 2.73 11.32 415.942.44 11.21 411.81
Mdsx High 2.75 11.34 416.672.50 11.27 414.01
Mdsx Average 2.74 -0.2211.33 416.312.47 -0.4611.24 412.91
Hensall 2.75 11.34 416.672.55 11.32 415.85
Bruce 2.75 11.34 416.672.50 11.27 414.01
Putnam 2.75 11.34 416.672.50 11.27 414.01
Burford 2.76 11.35 417.042.47 11.24 412.91
Port Perry 2.70 11.29 414.842.44 11.21 411.81
Norfolk 2.75 11.34 416.672.53 11.30 415.11
Palmerston 2.70 11.29 414.842.55 11.32 415.85
Varna 2.75 11.34 416.672.60 11.37 417.68
Trenton 2.82 11.41 419.252.45 11.22 412.17
Winchester 2.49 11.08 407.122.45 11.22 412.17
North Gower 2.68 11.27 414.102.59 11.36 417.32
Huron FOB 2.85 11.44 420.352.65 11.42 419.52
Kent FOB 2.90 11.49 422.192.63 11.40 418.79
Lambton FOB 2.95 11.54 424.022.85 11.62 426.87
Middlesex FOB2.84 2.77 2.89 N/A 11.43 419.982.54 11.31 415.48
PROCESSORS
Hamilton 3.19 3.12 3.12 3.18 11.78 432.842.87 11.64 427.60
Windsor N/A N/A N/A N/A N/A
Winchester N/A N/A
TRANSFER
Prescott 2.75 11.34 416.672.90 11.67 428.71
Toledo El. -0.28 8.31 305.19-0.38 8.39 308.24
Bank of Canada Noon exchange rate was 1.3575 down 0.0191
Chicago wheat closed slightly higher.
MAR16 HI 4.46 3/4 JUL16 HI 4.64
LOW 4.40 1/2 LOW 4.58
CLOSE 4.45 1/4 Up 2 1/2 CLOSE 4.62 1/4 Up 2 1/2
Minni wheat closed slightly higher.
MAR16 HI 4.88 1/2 SEP16 HI 5.10 3/4
LOW 4.82 3/4 LOW 5.07 1/4
CLOSE 4.86 1/4 Up 1 CLOSE 5.10 3/4 Up 1/2
GFO Cash Wheat Prices - DEL Terminal
Current Crop 15 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 3.47 1.03 1.03 0.77
CAD $/bu 7.92 5.48 5.48 5.63
CAD $/tonne 290.99 201.49 201.49 206.96
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 0.90 N/A N/A 0.70 0.70 N/A
London 3.24 0.66 0.86 N/A 0.93 0.58 0.58 N/A
Hensall 3.40 N/A 1.20 N/A 1.05 N/A 0.65 N/A
Trenton N/A N/A N/A N/A N/A N/A 0.50 N/A
Winchester N/A N/A N/A N/A N/A N/A N/A N/A
Essex N/A N/A 0.85 N/A N/A N/A 0.55 N/A
Norwich 3.40 N/A 1.20 N/A 1.05 N/A 0.65 N/A
Port Hope N/A 0.90 1.25 1.25 N/A 0.65 0.70 0.75
Kent Bridge 3.40 N/A 0.45 N/A 1.05 N/A 0.65 N/A
Chatham N/A 0.80 0.40 N/A N/A 0.65 0.60 N/A
Brigden N/A N/A 0.40 N/A N/A N/A 0.60 N/A
Palmerston N/A 0.60 1.25 0.95 N/A 0.70 0.75 0.75
Varna 3.35 0.75 1.25 N/A 1.10 0.60 0.65 N/A
Mitchell 3.40 0.70 1.20 N/A 1.05 0.65 0.65 N/A
Thornton N/A N/A N/A 0.33 N/A N/A N/A N/A
North Gower N/A 1.03 1.03 0.75 N/A 0.71 0.71 0.97
TERMINAL
Prescott N/A 1.10 N/A 1.10 N/A 1.25 1.15 1.35
PROCESSORS
Toledo FM 4.13 N/A 1.83 N/A 2.51 N/A 1.49 N/A
Toledo El. 4.42US 5.98CA 4.49US 6.08CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 16 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.89 0.89 0.75 0.99
CAD $/bu 5.51 5.51 5.37 6.10
CAD $/tonne 202.38 202.38 197.41 224.00
(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 430.68
DDG's FOB Srn & Aylm 220.00 - 230.00
_________________________________________________
Ontario Grain Market Commentary by Marty Hibbs, Grain Farmers of Ontario
Wednesday, February 24, 2016 Closing Prices
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT Mar 3.60 ↓ 05 cents
Soybeans CBOT Mar 8.67 ↓ 13 cents
Wheat CBOT Mar 4.43 ↓ 27 cents
Wheat Minn. Mar 4.85 ↓ 07 cents
Wheat Kansas Mar 4.43 ↓ 12 cents
Chicago Oats Mar 1.78 ↓ 22 cents
Canadian $ Mar .7305 ↑ 0.25 points
CORN:
On the charts: With more sideways action on the May contract, corn is now following the other grains lower. Support is seen at $3.50, and major support again at $3.25 on the lead month contract. Overhead resistance is seen at $3.75 and the main trend line cuts across the $4 level on the weekly charts. The indicators are in an oversold area and the main trend is still down.
SOYBEANS:
On the charts: The May soybeans are still confined in a narrow range of $8.75 to $9 on the charts with no clear direction. We are experiencing good short term support at $8.50 on May contract and a very broad base which could prove to be quite bullish in the coming months. Meanwhile, there is well defined overhead resistance at the $9-$9.25 levels as we have seen for the past few months. Our main support continues to hold at the $8.40-$8.50 level on the May contract and a close below these levels could spark a selloff which could take the beans below $8. All indicators are still negative and the main trend remains down.
WHEAT:
On the charts: We have switched to the May wheat contract for our technical analysis since the March contract first notice day is February 29. This week was anything but quiet, as we saw a twenty cent loss on the futures prices as the March contract prepares to go to cash. Our May contract is back to the support levels of $4.40 to $4.50. We closed today February 24 at $4.52 on our May contract. We could see more downside as the March feels pressure from liquidation as it closes out and heads to cash. This is looking like a washout that usually precedes a possible bottom, but until we see signs of a daily reversal I need to emphasize caution from trying to bottom pick. Our next major support is still around $4.25 on the May contract. Meanwhile current support is still holding at $4.40-$4.50 on the May contract with major overhead resistance now at $4.75- $5. Both the medium and long term trends remain down.
HARVEST 2016 CROP CASH PRICES AS OF CLOSE ON February 17, 2016
SWW @ $203.71/MT ($5.54/bu), HRW @ $203.71/MT ($5.54/bu),
HRS @ $226.34/MT ($6.16/bu), SRW @ $198.68/MT ($5.41/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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