[Farmmarketnews] Thursday Ontario Commodity Report and Weekly Market Commentary from GFO
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Thu Mar 3 15:45:27 EST 2016
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, March 3
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.3407 down 0.0061
Chicago corn closed slightly higher.
MAY16 HI 3.57 1/2 DEC16 HI 3.76 1/2
LOW 3.54 1/2 LOW 3.73 3/4
CLOSE3.56 1/2 Up 1/4 CLOSE 3.75 1/2 Up 1
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt U.S. $/bu $/mt Cntrct U.S. $/bu $/mt
ELEVATORS +MAY16+JUL16+JUL16
CK Low 0.90 4.47 175.78 0.80 4.56 179.32
CK High 0.95 4.52 177.75 0.85 4.61 181.29
CK Avg 0.91 -0.23 4.47 176.11 0.81 -0.35 4.56 179.65
Essex Cty 0.90 4.47 175.78 0.80 4.56 179.32
Mdsx Low 0.90 4.47 175.78 0.80 4.56 179.32
Mdsx High 0.90 4.47 175.78 0.80 4.56 179.32
Mdsx Avg 0.90 -0.23 4.47 175.78 0.80 -0.35 4.56 179.32
Hensall 0.90 4.47 175.78 0.81 4.57 179.72
Bruce 0.90 4.47 175.78 0.80 4.56 179.32
Putnam 0.90 4.47 175.78 0.85 4.61 181.29
Burford 0.90 4.47 175.78 0.80 4.56 179.32
Port Perry 0.90 4.47 175.78 0.80 4.56 179.32
Norfolk 0.90 4.47 175.78 0.80 4.56 179.32
Palmerston 0.90 4.47 175.78 0.80 4.56 179.32
Varna 0.90 4.47 175.78 0.85 4.61 181.29
Trenton 1.05 4.62 181.68 0.90 4.66 183.26
Winchester 1.07 4.64 182.47 1.10 4.86 191.13
North Gower 1.02 4.59 180.50 1.08 4.84 190.35
Huron FOB 1.00 4.57 179.72 0.88 4.64 182.47
Kent FOB 1.00 4.57 179.72 0.80 4.56 179.32
Lamb FOB 0.95 4.52 177.75 0.90 4.66 183.26
Mdsx FOB 1.00 1.00 1.00 1.00 4.57 179.72 0.85 4.61 181.29
FOB SW Que N/A N/A
Track 1.28 4.84 190.54N/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 1.15 1.15 1.00 4.76 187.20
Sarn-Eth 1.20 12.00 1.20 1.20 4.77 187.59N/A
Cllngwd-Eth N/A N/A N/A N/A N/A*
London-Ing N/A N/A N/A N/A N/A
Pt.Colb-Ing N/A N/A N/A N/A N/A
Cardnl-Ing N/A N/A N/A N/A N/A
W O Feed 1.32 4.89 192.31
US Rep 1.60 5.17 203.34
Toledo El. 0.11 3.67 144.57 -0.27 3.49 137.28
MID SD CRN 0.92 1/2 4.49
HI SD CRN 0.95 4.51 1/2
*Wet Bid
Bank of Canada Noon exchange rate was 1.3407 down 0.0061
Chicago soybeans closed slightly higher.
MAY16 HI 8.65 1/2 NOV16 HI 8.79 3/4
LOW 8.57 1/2 LOW 8.71 1/2
CLOSE8.63 3/4 Up 2 1/4 CLOSE 8.78 Up 3
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt
ELEVATORS +MAY1+MAY1+JUL16
CK Low 2.55 11.19 411.072.30 11.08 407.12
CK High 2.60 11.24 412.912.45 11.23 412.63
CK Average 2.56 -0.2811.20 411.382.35 -0.4711.13 408.96
Essex Cty 2.60 11.24 412.912.45 11.23 412.63
Mdsx Low 2.53 11.17 410.342.28 11.06 406.39
Mdsx High 2.55 11.19 411.072.40 11.18 410.79
Mdsx Average 2.54 -0.2911.18 410.702.34 -0.4811.12 408.59
Hensall 2.55 11.19 411.072.38 11.16 409.88
Bruce 2.55 11.19 411.072.35 11.13 408.96
Putnam 2.55 11.19 411.072.35 11.13 408.96
Burford 2.56 11.20 411.442.31 11.09 407.49
Port Perry 2.50 11.14 409.232.25 11.03 405.28
Norfolk 2.55 11.19 411.072.35 11.13 408.96
Palmerston 2.60 11.24 412.912.40 11.18 410.79
Varna 2.55 11.19 411.072.40 11.18 410.79
Trenton 2.55 11.19 411.072.35 11.13 408.96
Winchester 2.50 11.14 409.232.40 11.18 410.79
North Gower 2.54 11.18 410.702.41 11.19 411.16
Huron FOB 2.65 11.29 414.742.40 11.18 410.79
Kent FOB 2.70 11.34 416.582.40 11.18 410.79
Lambton FOB 2.65 11.29 414.742.60 11.38 418.14
Middlesex FOB2.65 2.65 2.75 N/A 11.29 414.742.38 11.16 410.06
PROCESSORS
Hamilton 3.00 3.00 3.06 3.08 11.64 427.602.70 11.48 421.82
Windsor N/A N/A N/A N/A N/A
Winchester N/A N/A
TRANSFER
Prescott 2.55 11.19 411.072.75 11.53 423.65
Toledo El. -0.24 8.40 308.51-0.33 8.45 310.30
Bank of Canada Noon exchange rate was 1.3407 down 0.0061
Chicago wheat closed higher.
MAY16 HI 4.62 JUL16 HI 4.67 1/2
LOW 4.49 LOW 4.55 1/4
CLOSE 4.59 3/4 Up 9 1/2 CLOSE 4.65 3/4 Up 9 1/2
Minni wheat closed higher.
MAY16 HI 5.00 SEP16 HI 5.16
LOW 4.87 1/4 LOW 5.08 3/4
CLOSE 4.98 Up 9 1/2 CLOSE 5.14 1/2 Up 8 3/4
GFO Cash Wheat Prices - DEL Terminal
Current Crop 15 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 3.44 1.16 1.16 0.89
CAD $/bu 8.03 5.76 5.76 5.87
CAD $/tonne 295.20 211.53 211.53 215.59
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 0.80 N/A N/A 0.55 0.55 N/A
London 3.16 0.60 0.80 N/A 0.83 0.49 0.49 N/A
Hensall 3.25 N/A 1.05 N/A 0.95 N/A 0.55 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 0.85 N/A N/A N/A 0.55 N/A
Norwich 3.25 N/A 1.05 N/A 0.95 N/A 0.55 N/A
Port Hope N/A 0.90 1.05 1.20 N/A 0.55 0.55 0.81
Kent Bridge 3.25 N/A 0.30 N/A 0.95 N/A 0.55 N/A
Chatham N/A 0.75 0.28 N/A N/A 0.60 0.55 N/A
Brigden N/A N/A 0.28 N/A N/A N/A 0.55 N/A
Palmerston N/A 0.60 0.95 0.80 N/A 0.70 0.60 0.70
Varna 3.20 0.60 1.05 N/A 0.95 0.55 0.55 N/A
Mitchell 3.25 0.55 1.05 N/A 0.95 0.55 0.55 N/A
Thornton N/A N/A N/A 0.30 N/A N/A N/A N/A
North Gower N/A 1.04 1.04 0.77 N/A 0.58 0.59 0.83
TERMINAL
Prescott N/A 1.10 N/A N/A N/A 1.05 0.95 1.30
PROCESSORS
Toledo FM 3.97 N/A 1.70 N/A 2.45 N/A 1.45 N/A
Toledo El. 4.52US 6.05CA 4.56US 6.11CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 16 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.84 0.84 0.71 0.94
CAD $/bu 5.50 5.50 5.37 6.09
CAD $/tonne 202.18 202.18 197.25 223.71
(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 438.62
DDG's FOB Srn & Aylm 220.00 - 230.00
--------------------
Weekly Ontario Grain Market Commentary by Marty Hibbs, Grain Farmers of Ontario
Wednesday, March 3, 2016 Closing Prices
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT May 3.60 ↓ 14 cents
Soybeans CBOT May 8.62 ↓ 10 cents
Wheat CBOT May 4.43 ↓ 27 cents
Wheat Minn. May 4.89 ↓ 02 cents
Wheat Kansas May 4.55 ↑ 02 cents
Chicago Oats May 1.80 ↓ 07 cents
Canadian $ June .7445 ↑ 1.35 points
CORN:
On the charts: Corn followed the lead of the other grains lower this week as we re-tested the $3.50 support line on the May contract. The chart still looks heavy, and I feel the other grains may end up dragging the corn lower to test the all-important $3.20 major support levels before we find a bottom. It would take a significant move by the wheat and beans to achieve such a move on the corn.
The long term trend continues to be down, and this proves how important it is to trade in the direction of the trend. Once we see proof that there is a bottom in place, we will be quick to signal the reversal. Until then, we continue to repeat ourselves with the redundancy of bearish signals and weak prices in Chicago.
Support is seen at $3.40-$3.50, and major support again at $3.20 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 main trend is still down.
SOYBEANS:
On the charts: The May soybeans have moved down to the support levels of $8.40-$8.50 and are once again testing the May contract support. If we continue to find support from these levels, the prices should bounce back towards the $9. level. If we fail to find support at the $8.40 level, we could see a significant drop that could actually flush out some of the short funds and we could see some posturing on the charts leading to a normalized balance of fund positions. Should the May contract continue to find solid support at these levels, the broad base which is being built, 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: This week’s action was confined to a fifteen cent range as the wheat contract looks for direction from the other grains. Our May contract is back to the support levels of $4.40 to $4.50. We closed today March 2 at $4.52 on our May contract, which is identical to last Wednesday’s close. I need to emphasize caution from trying to bottom pick. If our $4.40 levels on the May contract fails to withstand the bearish market forces, our next major support is still at $4.25. Major overhead-resistance now stands at $4.75- $5. Both the medium and long term trends remain down.
HARVEST 2016 CROP CASH PRICES AS OF CLOSE ON March 2, 2016
SWW @ $198.23/MT ($5.40/bu), HRW @ $198.23/MT ($5.40/bu),
HRS @ $218.23/MT ($5.94/bu), SRW @ $193.29/MT ($5.26/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
-------------- next part --------------
An embedded and charset-unspecified text was scrubbed...
Name: corn.txt
URL: <http://lists.sentex.ca/pipermail/farmmarketnews/attachments/20160303/aa473234/attachment-0001.txt>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: grain.pdf
Type: application/pdf
Size: 265555 bytes
Desc: not available
URL: <http://lists.sentex.ca/pipermail/farmmarketnews/attachments/20160303/aa473234/attachment-0002.pdf>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: wheatcom.pdf
Type: application/pdf
Size: 398407 bytes
Desc: not available
URL: <http://lists.sentex.ca/pipermail/farmmarketnews/attachments/20160303/aa473234/attachment-0003.pdf>
More information about the Farmmarketnews
mailing list