[Farmmarketnews] Thursday Ontario Commodity Report and Weekly GFO Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Thu Mar 10 15:32:24 EST 2016
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, March 10
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.3373 up 0.0137
Chicago corn closed slightly higher.
MAY16 HI 3.63 1/2 DEC16 HI 3.81 1/2
LOW 3.58 LOW 3.77 1/2
CLOSE3.62 3/4 Up 3 1/4 CLOSE 3.81 Up 1 3/4
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 0.80 4.43 174.30 0.70 4.51 177.55
CK High 0.90 4.53 178.24 0.80 4.61 181.49
CK Avg 0.83 -0.29 4.45 175.29 0.72 -0.42 4.53 178.21
Essex Cty 0.85 4.48 176.27 0.70 4.51 177.55
Mdsx Low 0.80 4.43 174.30 0.70 4.51 177.55
Mdsx High 0.80 4.43 174.30 0.70 4.51 177.55
Mdsx Avg 0.80 -0.31 4.43 174.30 0.70 -0.43 4.51 177.55
Hensall 0.81 4.44 174.70 0.73 4.54 178.54
Bruce 0.85 4.48 176.27 0.75 4.56 179.52
Putnam 0.85 4.48 176.27 0.75 4.56 179.52
Burford 0.80 4.43 174.30 0.70 4.51 177.55
Port Perry 0.80 4.43 174.30 0.70 4.51 177.55
Norfolk 0.80 4.43 174.30 0.70 4.51 177.55
Palmerston 0.85 4.48 176.27 0.70 4.51 177.55
Varna 0.85 4.48 176.27 0.80 4.61 181.49
Trenton 1.00 4.63 182.18 0.85 4.66 183.46
Winchester 0.99 4.62 181.78 1.04 4.85 190.94
North Gower 1.00 4.63 182.18 1.05 4.86 191.33
Huron FOB 0.95 4.58 180.21 0.80 4.61 181.49
Kent FOB 0.90 4.53 178.24 0.80 4.61 181.49
Lamb FOB 0.95 4.58 180.21 0.90 4.71 185.42
Mdsx FOB 0.90 0.90N/A N/A 4.53 178.24 0.75 4.56 179.52
FOB SW Que 1.25 4.88 192.02N/A
Track 1.25 4.88 192.02N/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 1.10 1.10 1.00 4.81 189.36
Sarn-Eth 1.15 1.15 1.15 1.15 4.78 188.08N/A
Kawartha N/A N/A N/A N/A 1.25 5.06 199.20
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 1.24 4.87 191.63
US Rep 1.50 5.13 201.86
Toledo El. 0.15 3.77 148.59 -0.27 3.54 139.49
MID SD CRN 0.85 4.47 3/4
HI SD CRN 0.90 4.52 3/4
*Wet Bid
Bank of Canada Noon exchange rate was 1.3373 up 0.0137
Chicago soybeans closed slightly higher.
MAY16 HI 8.90 NOV16 HI 9.01 1/4
LOW 8.81 1/4 LOW 8.92 1/2
CLOSE8.89 1/4 Up 3 1/2 CLOSE 9.00 3/4 Up 3 1/2
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt
ELEVATORS +MAY1+MAY1+JUL16
CK Low 2.50 11.39 418.602.24 11.25 413.27
CK High 2.60 11.49 422.282.35 11.36 417.32
CK Average 2.52 -0.3411.41 419.222.27 -0.5611.27 414.19
Essex Cty 2.60 11.49 422.282.35 11.36 417.32
Mdsx Low 2.48 11.37 417.872.22 11.23 412.54
Mdsx High 2.50 11.39 418.602.30 11.31 415.48
Mdsx Average 2.49 -0.3611.38 418.242.26 -0.5611.27 414.01
Hensall 2.50 11.39 418.602.30 11.31 415.48
Bruce 2.50 11.39 418.602.25 11.26 413.64
Putnam 2.50 11.39 418.602.25 11.26 413.64
Burford 2.51 11.40 418.972.25 11.26 413.64
Port Perry 2.48 11.37 417.872.22 11.23 412.54
Norfolk 2.50 11.39 418.602.25 11.26 413.64
Palmerston 2.60 11.49 422.282.30 11.31 415.48
Varna 2.60 11.49 422.282.40 11.41 419.15
Trenton 2.60 11.49 422.282.35 11.36 417.32
Winchester 2.60 11.49 422.282.47 11.48 421.73
North Gower 2.36 11.25 413.462.32 11.33 416.21
Huron FOB 2.60 11.49 422.282.35 11.36 417.32
Kent FOB 2.65 11.54 424.112.30 11.31 415.48
Lambton FOB 2.65 11.54 424.112.40 11.41 419.15
Middlesex FOB2.65 2.65 2.71 N/A 11.54 424.112.30 11.31 415.48
PROCESSORS
Hamilton 3.11 3.11 3.11 3.12 12.00 441.022.73 11.74 431.28
Windsor N/A N/A N/A N/A N/A
Winchester N/A N/A
TRANSFER
Prescott 2.50 11.39 418.602.75 11.76 432.01
Toledo El. -0.21 8.68 318.90-0.33 8.67 318.71
Bank of Canada Noon exchange rate was 1.3373 up 0.0137
Chicago wheat closed higher.
MAY16 HI 4.77 1/2 JUL16 HI 4.83 3/4
LOW 4.65 LOW 4.71 1/4
CLOSE 4.77 Up 8 3/4 CLOSE 4.83 1/4 Up 8 1/2
Minni wheat closed moderately higher.
MAY16 HI 5.13 1/2 SEP16 HI 5.30 1/2
LOW 5.04 3/4 LOW 5.22 1/4
CLOSE 5.12 1/2 Up 7 1/2 CLOSE 5.30 1/4 Up 7
GFO Cash Wheat Prices - DEL Terminal
Current Crop 15 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 3.46 1.19 1.19 0.91
CAD $/bu 8.23 5.96 5.96 6.04
CAD $/tonne 302.48 219.14 219.14 221.83
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 3.11 0.59 0.79 N/A 0.87 0.54 0.54 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 0.95 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 N/A N/A 0.55 0.55 0.80
Kent Bridge 3.25 N/A 0.30 N/A 0.95 N/A 0.55 N/A
Chatham N/A 0.75 0.25 N/A N/A 0.60 0.55 N/A
Brigden N/A N/A 0.25 N/A N/A N/A 0.55 N/A
Palmerston N/A 0.60 0.95 0.80 N/A 0.70 0.65 0.70
Varna 3.20 0.65 1.05 N/A 1.00 0.60 0.60 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 0.31 N/A N/A N/A N/A
North Gower N/A 1.02 1.02 0.75 N/A 0.58 0.58 0.81
TERMINAL
Prescott N/A 1.00 N/A N/A N/A 1.05 1.00 1.30
PROCESSORS
Toledo FM 4.00 N/A 1.73 N/A 2.42 N/A 1.41 N/A
Toledo El. 4.69US 6.26CA 4.73US 6.31CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 16 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.88 0.88 0.75 0.97
CAD $/bu 5.71 5.71 5.58 6.27
CAD $/tonne 209.95 209.95 205.04 230.54
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 441.92
DDG's FOB Srn & Aylm 210.00 - 215.00
----------------
Ontario Grain Market Commentary by Marty Hibbs, Grain Farmers of Ontario
Wednesday, March 9, 2016 Closing Prices
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT May 3.59 ↑ 3 cents
Soybeans CBOT May 8.86 ↑ 24 cents
Wheat CBOT May 4.68 ↑ 18 cents
Wheat Minn. May 5.05 ↑ 12 cents
Wheat Kansas May 4.76 ↑ 21 cents
Chicago Oats May 1.86 ↑ 6 cents
Canadian $ June .7545 ↑ 1.00 points
CORN:
On the charts: Once again, Corn found solid support at our $3.50 level on the May contract. This consistent support will eventually lead to higher prices if we cannot close below that level. Each time we try and fail, there is more reason to believe that we will eventually turn higher. Support is still at $3.50 with major support at the $3.20 level on the lead month. Meanwhile, a close above $3.70 on the May contract could ignite a decent rally to begin an assault on the $4 level into the spring. For now, the long term trend continues to be down.
SOYBEANS:
On the charts: The May soybeans flashed a buy signal on the daily chart this week and even though the trend is down, this is the first signal I received in the past six months. What does this mean? Not much, except to say that we could be getting ready to challenge the $9 level again. Of course, there are many roadblocks on the charts if and when we move higher. Once we close above the $9 level, we will run into resistance at the $9.25-$9.50 levels on the lead month Chicago contract. As we mentioned last week, the broad base that is being built could prove to be quite bullish in the coming months. Our main support continues to hold at the $8.40-$8.50 level on the May contract. Weekly and long term trends are still negative, and the main trend remains down.
WHEAT:
On the charts: Like Corn, Wheat has proven its support levels once again at the all-important $4.40-$4.50 once again and it is important to note that this support line originates back about 12 years. We should now be heading towards the overhead resistance levels of $4.75 on the May contract. If we manage to get through and close beyond this area, we are set up to challenge the all-important $5 level on the May contract. My guess is that we may not see this happen before the USDA report at the end of March. Major overhead trouble is at $5 and again at $5.25-$5.50 on the lead month contract. For now, both the medium and long term trends remain down.
HARVEST 2016 CROP CASH PRICES AS OF CLOSE ON March 9, 2016
SWW @ $204.54/MT ($5.57/bu), HRW @ $204.54/MT ($5.57/bu),
HRS @ $225.48/MT ($6.14/bu), SRW @ $199.67/MT ($5.43/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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