[Farmmarketnews] Thursday Ontario Commodity Report
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Thu Mar 17 15:26:54 EDT 2016
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, March 17
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.2984 down 0.0378
Chicago corn closed narrowly mixed.
MAY16 HI 3.72 DEC16 HI 3.90
LOW 3.66 1/2 LOW 3.84 1/2
CLOSE3.68 1/2 Up 1/4 CLOSE 3.87 1/4 Up 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 0.75 4.44 174.60 0.65 4.52 178.04
CK High 0.85 4.54 178.54 0.75 4.62 181.98
CK Avg 0.78 -0.25 4.46 175.58 0.68 -0.37 4.55 179.03
Essex Cty 0.85 4.54 178.54 0.75 4.62 181.98
Mdsx Low 0.75 4.44 174.60 0.65 4.52 178.04
Mdsx High 0.75 4.44 174.60 0.65 4.52 178.04
Mdsx Avg 0.75 -0.27 4.44 174.60 0.65 -0.39 4.52 178.04
Hensall 0.75 4.44 174.60 0.65 4.52 178.04
Bruce 0.75 4.44 174.60 0.65 4.52 178.04
Putnam 0.75 4.44 174.60 0.65 4.52 178.04
Burford 0.75 4.44 174.60 0.65 4.52 178.04
Port Perry 0.75 4.44 174.60 0.65 4.52 178.04
Norfolk 0.75 4.44 174.60 0.65 4.52 178.04
Palmerston 0.85 4.54 178.54 0.75 4.62 181.98
Varna 0.85 4.54 178.54 0.75 4.62 181.98
Trenton 0.90 4.59 180.50 0.75 4.62 181.98
Winchester 0.90 4.59 180.50 0.95 4.82 189.85
North Gower 0.88 4.57 179.72 0.90 4.77 187.89
Huron FOB 0.82 4.51 177.35 0.68 4.55 179.22
Kent FOB 0.85 4.54 178.54 0.65 4.52 178.04
Lamb FOB 0.95 4.64 182.47 0.80 4.67 183.95
Mdsx FOB 0.90 0.90 0.90N/A 4.59 180.50 0.70 4.57 180.01
FOB SW Que 1.23 4.92 193.49N/A
Track 1.20 4.89 192.31N/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 0.85 4.72 185.92
Sarn-Eth 1.10 1.10 1.15 1.10 4.79 188.38N/A
Kawartha N/A N/A N/A N/A 1.10 4.97 195.76
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 1.22 4.91 193.10
US Rep 1.50 5.19 204.12
Toledo El. 0.14 3.83 150.70 -0.26 3.61 142.22
MID SD CRN 0.80 4.48 1/2
HI SD CRN 0.85 4.53 1/2
*Wet Bid
Bank of Canada Noon exchange rate was 1.2984 down 0.0378
Chicago soybeans closed slightly higher.
MAY16 HI 9.04 1/2 NOV16 HI 9.15
LOW 8.93 1/2 LOW 9.04 1/2
CLOSE8.97 3/4 Up 3 1/4 CLOSE 9.09 1/4 Up 4 1/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt
ELEVATORS +MAY1+MAY1+JUL16
CK Low 2.30 11.28 414.382.00 11.09 407.58
CK High 2.35 11.33 416.212.10 11.19 411.25
CK Average 2.33 -0.2711.31 415.602.08 -0.5011.17 410.34
Essex Cty 2.35 11.33 416.212.10 11.19 411.25
Mdsx Low 2.28 11.26 413.641.98 11.07 406.84
Mdsx High 2.35 11.33 416.212.10 11.19 411.25
Mdsx Average 2.32 -0.2911.29 414.932.04 -0.5211.13 409.05
Hensall 2.35 11.33 416.212.15 11.24 413.09
Bruce 2.35 11.33 416.212.10 11.19 411.25
Putnam 2.40 11.38 418.052.15 11.24 413.09
Burford 2.31 11.29 414.742.01 11.10 407.95
Port Perry 2.28 11.26 413.641.98 11.07 406.84
Norfolk 2.30 11.28 414.382.05 11.14 409.42
Palmerston 2.35 11.33 416.212.05 11.14 409.42
Varna 2.55 11.53 423.562.35 11.44 420.44
Trenton 2.35 11.33 416.212.10 11.19 411.25
Winchester 2.31 11.29 414.742.16 11.25 413.46
North Gower 2.22 11.20 411.442.25 11.34 416.77
Huron FOB 2.45 11.43 419.892.30 11.39 418.60
Kent FOB 2.45 11.43 419.892.10 11.19 411.25
Lambton FOB 2.70 11.68 429.072.45 11.54 424.11
Middlesex FOB2.45 2.45 2.48 N/A 11.43 419.892.12 11.21 411.99
PROCESSORS
Hamilton 2.87 2.87 2.87 2.89 11.85 435.322.51 11.60 426.32
Windsor N/A N/A N/A N/A N/A
Winchester N/A N/A
TRANSFER
Prescott 2.10 11.08 407.032.40 11.49 422.28
Toledo El. -0.21 8.77 322.23-0.32 8.77 322.16
Bank of Canada Noon exchange rate was 1.2984 down 0.0378
Chicago wheat closed moderately lower.
MAY16 HI 4.76 JUL16 HI 4.83
LOW 4.60 1/4 LOW 4.67 1/4
CLOSE 4.62 1/2 Down 8 1/4 CLOSE 4.70 Down 8 1/4
Minni wheat closed moderately lower.
MAY16 HI 5.18 1/4 SEP16 HI 5.37 1/2
LOW 5.05 1/2 LOW 5.25 1/4
CLOSE 5.09 3/4 Down 5 3/4 CLOSE 5.29 1/4 Down 5 1/4
GFO Cash Wheat Prices - DEL Terminal
Current Crop 15 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 3.20 0.99 0.99 0.75
CAD $/bu 7.83 5.62 5.62 5.84
CAD $/tonne 287.62 206.47 206.47 214.70
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 0.70 N/A N/A 0.45 0.45 N/A
London 2.97 0.50 0.70 N/A 0.79 0.46 0.46 N/A
Hensall 3.15 N/A 0.95 N/A 0.85 N/A 0.45 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 0.70 N/A N/A N/A 0.45 N/A
Norwich 3.15 N/A 0.95 N/A 0.85 N/A 0.45 N/A
Port Hope N/A 0.90 0.95 N/A N/A 0.55 0.45 0.80
Kent Bridge 3.15 N/A 0.20 N/A 0.85 N/A 0.45 N/A
Chatham N/A 0.60 0.15 N/A N/A 0.50 0.45 N/A
Brigden N/A N/A 0.15 N/A N/A N/A 0.45 N/A
Palmerston N/A 0.50 0.80 0.75 N/A 0.60 0.60 0.60
Varna 3.20 0.65 1.05 N/A 1.00 0.60 0.60 N/A
Mitchell 3.15 0.45 0.95 N/A 0.85 0.45 0.45 N/A
Thornton N/A N/A N/A 0.11 N/A N/A N/A N/A
North Gower N/A 0.99 0.99 0.74 N/A 0.53 0.55 0.80
TERMINAL
Prescott N/A 0.90 N/A N/A N/A 0.90 0.85 1.15
PROCESSORS
Toledo FM 3.72 N/A 1.51 N/A 2.19 N/A 1.21 N/A
Toledo El. 4.55US 5.90CA 4.60US 5.98CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 16 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.69 0.69 0.56 0.80
CAD $/bu 5.39 5.39 5.26 6.10
CAD $/tonne 198.11 198.11 193.34 224.01
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 429.91
DDG's FOB Srn & Aylm 210.00 - 215.00
Weekly Grain Market Commentary by Marty Hibbs, Grain Farmers of Ontario
Wednesday, March 16, 2016 Closing Prices
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT May 3.68 ↑ 9 cents
Soybeans CBOT May 8.95 ↑ 7 cents
Wheat CBOT May 4.71 ↑ 3 cents
Wheat Minn. May 5.15 ↑ 10 cents
Wheat Kansas May 4.84 ↑ 12 cents
Chicago Oats May 1.95 ↑ 9 cents
Canadian $ June .7582 ↑ 0.50 points
CORN:
On the charts: Last week we suggested a close above the $3.70 level on the May contract could lead to a decent rally. After confirming the $3.50 support we headed higher and had two consecutive closes at $3.69. This is butting its head against the six month downtrend line and a close above here would be the first step in challenging our $4 level this spring. Meanwhile, solid support remains at the $3.50 level and our resistance targets are spaced about every five cents above our current May contract price, until we reach the magic $4 level. For now, short term indicators look positive but the long term trend is still down.
SOYBEANS:
On the charts: Following up from last week, the May bean contract continues to show good support at the current levels. Our daily buy signal from last week, is still intact and if we manage to get a close above the $9 level on May coupled with even a neutral report at the end of March, we could be ready to test the $9.40 - $9.50 trend line. Our main support continues to hold at the $8.40-$8.50 level on the May contract. A close below that level could see a significant selloff towards the $8 level on the lead month. Meanwhile, the short term indicators are positive while the long term trend is still negative.
WHEAT:
On the charts: Wheat was the only one of the grains that met our target of a close above the $4.75 level on May. As of March 16, we are currently trading at $4.72, and the chart has confirmed our short term buy signal on the day chart. This signal is to a market reversal as a single cloud in the sky is to a tornado. That said, we have to start somewhere, and our next obstacle is to close above the $4.90 and then the $5 levels. Eventually, enough of these targets being met will reverse this four year old bear. The USDA report on March 31 could prove to be the catalyst for higher prices. It is also possible that a faltering US dollar could continue to slip lower, thus increasing demand for US wheat. Overhead trouble is at $5 and again at $5.25-$5.50 on the lead month contract. For now, short term signals are positive while the weekly charts are neutral but the long term trends remain down.
HARVEST 2016 CROP CASH PRICES AS OF CLOSE ON March 16, 2016
SWW @ $204.65/MT ($5.57/bu), HRW @ $204.65/MT ($5.57/bu),
HRS @ $229.56/MT ($6.25/bu), SRW @ $199.81/MT ($5.44/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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This Farm Market News product is sponsored by:
Grain Farmers of Ontario
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