[Farmmarketnews] Tuesday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Tue Jan 12 15:45:08 EST 2016
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Tue, January 12
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.4291 up 0.0086
Chicago corn closed slightly higher.
MAR16 HI 3.63 3/4 DEC16 HI 3.89 1/4
LOW 3.49 1/2 LOW 3.76
CLOSE3.56 3/4 Up 5 CLOSE 3.82 3/4 Up 4 1/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt
ELEVATORS +MAR16+MAY16+MAY16
CK Low 0.95 4.52 177.85 0.90 4.73 186.11
CK High 0.95 4.52 177.85 0.95 4.78 188.08
CK Avg 0.95 -0.58 4.52 177.85 0.91 -0.72 4.74 186.44
Essex Cty 0.95 4.52 177.85 0.90 4.73 186.11
Mdsx Low 0.95 4.52 177.85 0.90 4.73 186.11
Mdsx High 0.95 4.52 177.85 0.95 4.78 188.08
Mdsx Avg 0.95 -0.58 4.52 177.85 0.93 -0.70 4.75 187.10
Hensall 0.95 4.52 177.85 0.95 4.78 188.08
Bruce 0.95 4.52 177.85 0.95 4.78 188.08
Putnam 0.95 4.52 177.85 0.95 4.78 188.08
Burford 0.95 4.52 177.85 0.90 4.73 186.11
Port Perry 0.95 4.52 177.85 0.90 4.73 186.11
Norfolk 0.95 4.52 177.85 0.90 4.73 186.11
Palmerston 0.90 4.47 175.88 0.90 4.73 186.11
Varna 0.95 4.52 177.85 0.95 4.78 188.08
Trenton 1.00 4.57 179.81 1.00 4.83 190.05
Winchester 0.95 4.52 177.85 1.02 4.85 190.84
North Gower 0.98 4.55 179.03 1.06 4.89 192.41
Huron FOB 1.20 4.77 187.69 1.00 4.83 190.05
Kent FOB 0.95 4.52 177.85 0.90 4.73 186.11
Lamb FOB 0.95 4.52 177.85 0.90 4.73 186.11
Mdsx FOB 0.95 1.00 1.05 1.10 4.52 177.85 0.90 4.73 186.11
FOB SW Que N/A N/A
Track 1.38 4.94 194.58N/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 1.35 1.30 1.10 4.93 193.99
Sarn-Eth N/A 1.35 1.35N/A N/A
Cllngwd-Eth N/A N/A N/A N/A N/A*
London-Ing N/A N/A N/A N/A 1.15 4.98 195.96
Pt.Colb-Ing N/A N/A 1.40 1.45 N/A
Cardnl-Ing N/A N/A N/A 1.50 1.15 4.98 195.96
W O Feed 1.48 0.87 5.05 198.87
US Rep 1.80 1.19 5.37 211.31
Toledo El. 0.13 3.70 145.51 -0.33 3.50 137.77
TRANSFER
Sarnia N/A N/A
Pt. Stanley N/A N/A
Hamilton N/A N/A
MID SD CRN 0.95 4.51 3/4
HI SD CRN 0.95 4.51 3/4
*Wet Bid
Bank of Canada Noon exchange rate was 1.4291 up 0.0086
Chicago soybeans closed moderately higher.
MAR16 HI 8.81 1/4 NOV16 HI 8.91 3/4
LOW 8.57 1/4 LOW 8.70
CLOSE8.74 1/2 Up 13 1/4 CLOSE 8.86 1/4 Up 12 1/2
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt
ELEVATORS +MAR1+MAR1+MAY16
CK Low 2.95 11.70 429.722.75 11.61 426.69
CK High 3.12 11.87 435.962.92 11.78 432.93
CK Average 3.00 -0.7511.74 431.372.79 -0.9911.65 428.03
Essex Cty 3.00 11.75 431.552.80 11.66 428.52
Mdsx Low 2.95 11.70 429.722.75 11.61 426.69
Mdsx High 3.10 11.85 435.232.90 11.76 432.20
Mdsx Average 3.03 -0.7211.77 432.472.83 -0.9511.69 429.44
Hensall 2.95 11.70 429.722.75 11.61 426.69
Bruce 2.90 11.65 427.882.70 11.56 424.85
Putnam 2.95 11.70 429.722.75 11.61 426.69
Burford 3.13 11.88 436.332.93 11.79 433.30
Port Perry 3.07 11.82 434.132.87 11.73 431.10
Norfolk 2.95 11.70 429.722.75 11.61 426.69
Palmerston 2.85 11.60 426.042.75 11.61 426.69
Varna 2.90 11.65 427.882.70 11.56 424.85
Trenton 3.00 11.75 431.552.85 11.71 430.36
Winchester 3.09 11.84 434.862.79 11.65 428.16
North Gower 2.86 11.61 426.412.86 11.72 430.73
Huron FOB 3.10 11.85 435.232.85 11.71 430.36
Kent FOB 2.95 11.70 429.722.75 11.61 426.69
Lambton FOB 2.95 11.70 429.722.75 11.61 426.69
Middlesex FOB3.24 3.32 N/A N/A 11.99 440.373.03 11.89 436.97
PROCESSORS
Hamilton 3.46 3.52 3.59 3.67 12.21 448.463.26 12.12 445.43
Windsor N/A N/A N/A N/A N/A
Winchester N/A N/A
TRANSFER
Hamilton N/A N/A
Pt. Stanley N/A N/A
Sarnia N/A N/A
Owen Sound N/A N/A
Sorel QC N/A N/A
Toledo El. -0.30 8.45 310.31-0.40 8.46 310.97
Bank of Canada Noon exchange rate was 1.4291 up 0.0086
Chicago wheat closed higher.
MAR16 HI 4.83 1/4 JUL16 HI 4.94 1/4
LOW 4.62 1/2 LOW 4.75
CLOSE 4.81 1/4 Up 12 1/4 CLOSE 4.92 3/4 Up 11 3/4
Minni wheat closed higher.
MAR16 HI 5.08 SEP16 HI 5.33 1/4
LOW 4.90 3/4 LOW 5.20 1/4
CLOSE 5.07 Up 13 3/4 CLOSE 5.32 3/4 Up 12
GFO Cash Wheat Prices - DEL Terminal
Current Crop 15 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 4.06 1.49 1.49 1.17
CAD $/bu 8.87 6.30 6.30 6.24
CAD $/tonne 325.91 231.48 231.48 229.25
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 0.85 0.65 N/A
London 4.06 1.13 1.28 N/A 1.61 1.04 0.76 N/A
Hensall 3.60 N/A 1.30 N/A 1.25 N/A 0.60 N/A
Trenton N/A N/A N/A N/A N/A N/A 0.60 N/A
Winchester N/A N/A N/A N/A N/A N/A N/A N/A
Essex N/A N/A 1.30 N/A N/A N/A 0.85 N/A
Norwich 3.60 N/A 1.30 N/A 1.35 N/A 0.60 N/A
Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A
Kent Bridge 3.60 N/A 0.60 N/A 1.35 N/A 0.60 N/A
Chatham N/A 0.95 0.65 N/A N/A 0.90 0.65 N/A
Brigden N/A N/A 0.65 N/A N/A N/A 0.65 N/A
Palmerston N/A 0.90 1.20 0.70 N/A 0.85 0.60 0.60
Varna 3.55 0.95 1.25 N/A 1.25 0.80 0.60 N/A
Mitchell 3.60 0.90 1.30 N/A 1.25 0.85 0.60 N/A
Thornton N/A N/A N/A 0.89 N/A N/A N/A N/A
North Gower N/A 1.31 1.31 0.99 N/A 1.35 0.93 1.24
TERMINAL
Sarnia N/A N/A N/A N/A N/A N/A N/A N/A
Hamilton N/A N/A N/A N/A N/A N/A N/A N/A
Pt. Stanley N/A N/A N/A N/A N/A N/A N/A N/A
PROCESSORS
Toledo FM 4.91N/A 2.42N/A 3.17N/A 2.10N/A
Toledo El. 4.98US 7.11CA 4.90US 6.98CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 16 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.96 1.67 1.10 1.41
CAD $/bu 6.88 6.60 6.03 6.74
CAD $/tonne 252.89 242.42 221.46 247.66
(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 457.03
DDG's FOB Srn & Aylm 230.00
Weekly Grain Market Commentary by Marty Hibbs, Grain Farmers of Ontario
Wednesday, January 12, 2016 Closing Prices
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT Mar 3.57 ↑ 04 cents
Soybeans CBOT Mar 8.75 ↑ 10 cents
Wheat CBOT Mar 4.81 ↑ 17 cents
Wheat Minn. Mar 5.07 ↑ 17 cents
Wheat Kansas Mar 4.81 ↑ 20 cents
Chicago Oats Mar 2.06 ↓ 06 cents
Canadian $ Mar .7009 ↓ 0.85 points
CORN
On the charts: The $3.50 support on the March contract held once again, and eventually we should start to see some upward movement if we continue to hold these areas. The January 12 WASDE report showed little in the way of surprises. This market is flat, and it should continue to be that way until we have an event capable of influencing these markets to do otherwise. Major support is seen at $3.45-$3.50, and again at $3.20. Overhead resistance stands at $3.80 and again at $4. All indicators are negative and the main trend is still down.
SOYBEANS
On the charts: The beans continued to track sideways, and even today’s WASDE report did little to indicate future direction. Our support at $8.40-$8.50 on the March contract held nicely, and we actually hit a minor overhead resistance at $8.80 before settling back to close at $8.74. Eventually this market will need to pick a direction and either fall sharply or begin an advance that will eventually lead to higher prices. Which one it decides is anyone’s guess, but it looks like today was a day for the funds to start unwinding their short positions which led to a brisk rally. In my mind, this could be a hint that some of the bearishness is starting to wane.
Support is still seen in the $8.40-$8.50 area on the March charts, while the overhead resistance remains in the $9 vicinity. Although we have a neutral short term trend indicator, the real trend is still negative and will need a lot of work to turn this market around.
WHEAT
On the charts: Wheat has made four attempts at breaking below the $4.50 level over the past four months. To my way of thinking, what won’t go down will eventually start to rise. With most of the bearish news absorbed in the marketplace and our indicators showing several oversold signals, I feel we are getting closer to a descent rally. When that happens is anyone’s guess, but even if we don’t head higher I feel the downside at this level is limited. It is now just a matter of time before something spooks the market enough to scare the funds out of their short positions. Meanwhile, as I have said for the past two years, we continue to be in a bear market and need to treat them as such while looking for selling opportunities on rallies until the trend shows us that it has turned the corner. Support is seen at the $4.40-$4.50 level on March, while overhead resistance is at $5 and $5.25 on the lead month. Both the medium and long term trends remain down.
Grain Farmers of Ontario will be offering another series of marketing seminars across Ontario. This time we will be focusing on “Options” on Futures. The dates that we have confirmed so far include,
(*New Liskeard, January 14;) (Belleville, January 26;) ( Avonmore, January 27;) (Chatham,(FULL) February 9;) (Stratford, February 10;) (London, February 11;) and (Brantford, February 25).
If you would like to attend, go online at www.gfo.ca/seminars; phone Marty Hibbs at 519-767-4123; or email mhibbs at gfo.ca. Seminars are limited to 25 participants per location.
* Futures & Options seminar
HARVEST 2016 CROP CASH PRICES AS CLOSE ON January 12, 2016
SWW @ $253.20/MT ($6.89/bu), HRW @ $242.71/MT ($6.61/bu),
HRS @ $247.96/MT ($6.75/bu), SRW @ $221.74/MT ($6.03/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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