[Farmmarketnews] Thursday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Thu Nov 17 15:42:39 EST 2016
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, November 17
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.3429 up 0.0013
Chicago corn closed slightly higher.
DEC16 HI 3.43 1/2 DEC17 HI 3.80
LOW 3.38 1/4 LOW 3.75 1/4
CLOSE3.42 Up 3 1/2 CLOSE 3.78 1/2 Up 2 1/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt U.S. $/bu $/mt Cntrct U.S. $/bu $/mt
ELEVATORS +MAR17+MAR17+MAR17
CK Low 0.80 4.22 166.13 0.80 4.59 180.50
CK High 0.85 4.27 168.10 0.85 4.64 182.47
CK Avg 0.82 -0.28 4.24 166.79 0.83 -0.36 4.61 181.49
Essex Cty 0.85 4.27 168.10 0.80 4.59 180.50
Mdsx Low 0.80 4.22 166.13 0.85 4.64 182.47
Mdsx High 0.80 4.22 166.13 0.85 4.64 182.47
Mdsx Avg 0.80 -0.29 4.22 166.13 0.85 -0.34 4.64 182.47
Hensall 0.80 4.22 166.13 0.85 4.64 182.47
Bruce 0.85 4.27 168.10 0.80 4.59 180.50
Putnam 0.80 4.22 166.13 0.85 4.64 182.47
Burford 0.80 4.22 166.13 0.85 4.64 182.47
Port Perry 1.05 4.47 175.98 0.85 4.64 182.47
Norfolk 0.85 4.27 168.10 0.80 4.59 180.50
Palmerston 0.85 4.27 168.10 0.80 4.59 180.50
Varna 0.80 4.22 166.13 0.85 4.64 182.47
Trenton 1.30 4.72 185.82 0.90 4.69 184.44
Winchester 1.30 4.72 185.82 1.02 4.81 189.16
North Gower 1.20 4.62 181.88 1.00 4.79 188.38
Huron FOB 0.87 4.29 168.89 0.82 4.61 181.29
Kent FOB 0.80 4.22 166.13 0.80 4.59 180.50
Lamb FOB 0.75 4.17 164.17 0.90 4.69 184.44
Mdsx FOB 0.80 0.75 0.80N/A 4.22 166.13 0.85 4.64 182.47
FOB SW Que 1.20 4.62 181.88N/A
Track 1.23 4.65 182.87N/A
PROCESSORS
Chat-Eth N/A 1.05 1.10 1.15 1.10 4.89 192.31
Jhnstwn-Eth N/A N/A N/A N/A N/A
Aylmer-Eth N/A N/A 1.10 1.15 1.00 4.79 188.38
Sarn-Eth N/A 1.15 1.20 1.25 N/A
Kawartha N/A N/A N/A N/A N/A
London-Ing N/A N/A N/A N/A 1.10 4.89 192.31
Pt.Colb-Ing N/A N/A N/A N/A N/A
Cardnl-Ing N/A N/A N/A N/A 1.15 4.94 194.28
W O Feed 1.39 4.81 189.20
US Rep 1.60 5.02 197.63
Toledo El. -0.20 3.22 126.67 -0.34 3.45 135.76
MID SD CRN 0.82 1/2 4.24 1/2
HI SD CRN 0.85 4.271
*Wet Bid
Bank of Canada Noon exchange rate was 1.3429 up 0.0013
Chicago soybeans closed slightly higher.
JAN17 HI 9.93 3/4 NOV17 HI 9.95 1/2
LOW 9.81 LOW 9.85
CLOSE9.89 1/2 Up 3 3/4 CLOSE 9.93 Up 6
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt
ELEVATORS +JAN1+JAN1+MAR17
CK Low 2.48 12.38 454.702.51 12.44 457.09
CK High 2.55 12.45 457.282.60 12.53 460.40
CK Average 2.53 -0.6912.43 456.542.57 -0.6412.50 459.24
Essex Cty 2.55 12.45 457.282.60 12.53 460.40
Mdsx Low 2.48 12.38 454.702.49 12.42 456.36
Mdsx High 2.55 12.45 457.282.55 12.48 458.56
Mdsx Average 2.52 -0.7012.41 455.992.52 -0.6812.45 457.46
Hensall 2.55 12.45 457.282.55 12.48 458.56
Bruce 2.55 12.45 457.282.60 12.53 460.40
Putnam 2.55 12.45 457.282.55 12.48 458.56
Burford 2.51 12.41 455.812.52 12.45 457.46
Port Perry 2.45 12.35 453.602.46 12.39 455.25
Norfolk 2.50 12.40 455.442.55 12.48 458.56
Palmerston 2.55 12.45 457.282.60 12.53 460.40
Varna 2.55 12.45 457.282.60 12.53 460.40
Trenton 2.50 12.40 455.442.60 12.53 460.40
Winchester 2.63 12.53 460.212.60 12.53 460.40
North Gower 2.70 12.60 462.792.60 12.53 460.40
Huron FOB 2.65 12.55 460.952.65 12.58 462.24
Kent FOB 2.60 12.50 459.112.55 12.48 458.56
Lambton FOB 2.85 12.75 468.302.90 12.83 471.42
Middlesex FOB2.65 2.78 2.85 N/A 12.55 460.952.66 12.59 462.60
PROCESSORS
Hamilton 3.05 2.18 3.24 N/A 12.95 475.653.08 13.01 478.04
Windsor N/A N/A N/A N/A N/A
Winchester N/A N/A
TRANSFER
Prescott 2.91 12.81 470.503.05 12.98 476.93
Toledo El. -0.63 9.26 340.27-0.34 9.59 352.50
Bank of Canada Noon exchange rate was 1.3429 up 0.0013
Chicago wheat closed slightly to moderately higher.
DEC16 HI 4.06 JUL17 HI 4.50
LOW 3.96 1/2 LOW 4.42 1/4
CLOSE 4.03 Up 6 CLOSE 4.48 1/4 Up 5 1/2
Minni wheat closed slightly to moderately higher.
DEC16 HI 5.28 SEP17 HI 5.41 3/4
LOW 5.18 1/2 LOW 5.39
CLOSE 5.26 3/4 Up 8 1/4 CLOSE 5.41 3/4 Up 3 3/4
GFO Cash Wheat Prices - DEL Terminal
Harvest 16 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.67 0.60 0.67 0.49
CAD $/bu 4.70 4.63 4.70 5.76
CAD $/tonne 172.56 170.08 172.56 211.61
Direct MarkHarvest 2016 Harvest 2017
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 0.60 N/A N/A 0.60 0.60 N/A
London 0.56 0.45 0.56 N/A 0.65 0.51 0.58 N/A
Hensall 0.60 N/A 0.60 N/A 0.70 N/A 0.60 N/A
Trenton N/A N/A N/A N/A N/A N/A 0.60 N/A
Bruce 0.55 0.50 0.55 0.30 0.65 0.55 0.55 0.45
Essex N/A N/A 0.51 N/A N/A N/A 0.56 N/A
Norwich 0.60 N/A 0.60 N/A 0.70 N/A 0.60 N/A
Port Hope N/A 0.60 0.60 N/A N/A 0.50 0.60 N/A
Kent Bridge 0.60 N/A 0.60 N/A 0.70 N/A 0.60 N/A
Chatham N/A N/A 0.60 N/A N/A N/A 0.60 N/A
Brigden N/A N/A 0.60 N/A N/A N/A 0.60 N/A
Palmerston N/A 0.45 0.60 0.55 N/A 0.55 0.60 0.55
Varna 0.60 0.60 0.60 N/A 0.65 0.60 0.60 N/A
Mitchell 0.60 0.60 0.60 N/A 0.70 0.55 0.60 N/A
Thornton N/A N/A N/A 0.12 N/A N/A N/A N/A
North Gower N/A 0.46 0.52 0.24 N/A 0.82 0.82 0.52
W O Feed 1.49
TERMINAL
Prescott N/A N/A 0.67 0.64 N/A 0.60 0.83 0.77
PROCESSORS
Toledo FM N/A N/A 1.41 N/A N/A N/A 1.55 N/A
Toledo El. 3.93US 5.30CA 4.28US 5.76CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 17 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.88 0.81 0.81 0.66
CAD $/bu 5.36 5.29 5.29 6.08
CAD $/tonne 196.92 194.45 194.45 223.37
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 486.68
DDG's FOB Srn & Aylm 150.00 - 155.00
---
Ontario Grain Market Commentary for November 16, 2016 by Marty Hibbs, Grain Farmers of Ontario
Wednesday, November-16, 2016 Closing Prices
COMMODITY
PERIOD
PRICE
WEEKLY MOVEMENT
Corn CBOT
Dec
3.39
↓
02
cents
Soybeans CBOT
Jan
9.86
↓
05
cents
Wheat CBOT
Dec
3.97
↓
10
cents
Wheat Minn.
Dec
5.18
↑
03
cents
Wheat Kansas
Dec
4.04
↓
06
cents
Chicago Oats
Dec
2.33
↑
10
cents
Canadian $
Dec
.7445
↓
0.35
points
CORN: It was a quiet week as corn tracked sideways within a 10-cent range. The recent U.S dollar strength has not been constructive for prices, but we have hit a major resistance level on the dollar index and a good pullback on the U.S dollar may benefit Chicago prices. We are still finding support at the $3.25 - $3.35 level, but we received a daily red signal on the Chicago chart suggesting a move back towards the support level. A close below $3.25 would signal further weakness and a possible move back toward the contract lows around the $3 - $3.15 level on the December contract. Meanwhile, overhead resistance is still at $3.60. All indicators are negative, and the main trend is still down.
SOYBEANS: With the November contract expiring this week, we could see some relief in selling pressure as the January contract becomes the lead month. However, the soybean charts still looks heavy and more downside is quite possible. Basically, we need a close above $10.40 or below $9.70 to get a clearer picture direction for the next month or two. Initial overhead resistance is now at $10.30, while support is seen on the January contract at the $9.70 level and again at the important $9.40 area. A close below $9.40 could set us up for further price deterioration and a test of the $8.50 lows of 2016. All indicators are negative and the primary trend is still down.
WHEAT: We received a daily red signal on the wheat November 15 which is not good news for a higher price outlook, at least in the short term. I feel there could be a more downside pressure going into first notice day of the December contract. For the time being, we have overhead resistance moving down to the $4.25 - $4.40 level on December while our initial support is still at $3.85 and better support at the December contract lows of $3.60. All indicators point lower and both the intermediate and primary trends are still down.
2016 CROP CASH PRICES as of close on November 16, 2016
SWW @ $168.82MT ($4.59/bu), HRW @ $166.35/MT ($4.53/bu),
HRS @ $206.33/MT ($5.62/bu), SRW @ $168.82/MT ($4.59/bu).
---
Blair Andrews
Editor, AgriLink and Farm Market News
University of Guelph, Ridgetown Campus
Tel. 519-674-1500<callto:519-674-1500> x 63577
Fax. 519-674-1530<callto:519-674-1530>
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This Farm Market News product is sponsored by:
Grain Farmers of Ontario
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