[Farmmarketnews] Thursday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Thu Sep 8 15:40:21 EDT 2016
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, September 8
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.2909 up 0.0014
Chicago corn closed slightly higher.
DEC16 HI 3.38 3/4 DEC16 HI 3.38 3/4
LOW 3.32 1/2 LOW 3.32 1/2
CLOSE3.38 1/2 Up 5 1/4 CLOSE 3.38 1/2 Up 5 1/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt U.S. $/bu $/mt Cntrct U.S. $/bu $/mt
ELEVATORS +DEC16+DEC16+MAR17
CK Low 1.05 4.44 174.60 0.90 4.29 168.69
CK High 1.10 4.49 176.57 0.90 4.29 168.69
CK Avg 1.08 0.07 4.46 175.58 0.90 -0.06 4.29 168.69
Essex Cty 1.10 4.49 176.57 0.90 4.29 168.69
Mdsx Low 1.05 4.44 174.60 0.90 4.29 168.69
Mdsx High 1.05 4.44 174.60 0.90 4.29 168.69
Mdsx Avg 1.05 0.05 4.44 174.60 0.90 -0.06 4.29 168.69
Hensall 1.05 4.44 174.60 0.90 4.29 168.69
Bruce 1.05 4.44 174.60 0.90 4.29 168.69
Putnam 1.05 4.44 174.60 0.90 4.29 168.69
Burford 1.05 4.44 174.60 0.90 4.29 168.69
Port Perry 1.05 4.44 174.60 0.90 4.29 168.69
Norfolk 1.10 4.49 176.57 0.95 4.34 170.66
Palmerston 1.10 4.49 176.57 0.90 4.29 168.69
Varna 1.05 4.44 174.60 0.90 4.29 168.69
Trenton 1.20 4.59 180.50 0.90 4.29 168.69
Winchester N/A 1.15 4.54 178.54
North Gower 1.07 4.46 175.39 1.11 4.50 176.96
Huron FOB 1.15 4.54 178.54 0.90 4.29 168.69
Kent FOB 1.10 4.49 176.57 0.90 4.29 168.69
Lamb FOB 1.20 4.59 180.50 0.85 4.24 166.72
Mdsx FOB 1.10N/A N/A N/A 4.49 176.57 0.95 4.34 170.66
FOB SW Que 1.75 5.14 202.16N/A
Track 1.50 4.89 192.31N/A
PROCESSORS
Chat-Eth N/A N/A N/A N/A N/A
Jhnstwn-Eth N/A 1.25 1.25 1.25 1.25 4.64 182.47
Aylmer-Eth N/A 1.20 1.05 1.15 1.05 4.44 174.60
Sarn-Eth 1.30 1.15N/A 1.15 4.69 184.44 1.15 4.54 178.54
Kawartha N/A N/A N/A N/A N/A
London-Ing N/A N/A N/A 1.17 N/A
Pt.Colb-Ing N/A 1.45 1.05 1.22 1.05 4.44 174.60
Cardnl-Ing N/A 1.35 1.15 1.36 1.15 4.54 178.54
W O Feed 1.47 4.85 191.05
US Rep 1.55 4.94 194.28
Toledo El. -0.23 3.15 124.10 -0.26 3.13 123.11
MID SD CRN 0.90 4.28 1/2
HI SD CRN 0.90 4.28 1/2
*Wet Bid
Bank of Canada Noon exchange rate was 1.2909 up 0.0014
Chicago soybeans closed slightly higher.
NOV16 HI 9.83 3/4 NOV16 HI 9.83 3/4
LOW 9.70 1/4 LOW 9.70 1/4
CLOSE9.76 3/4 Up 1 1/4 CLOSE 9.76 3/4 Up 1 1/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt
ELEVATORS +NOV1+NOV1+JAN17
CK Low 2.40 12.17 447.082.35 12.12 445.24
CK High 2.55 12.32 452.592.43 12.20 448.18
CK Average 2.47 -0.3012.24 449.712.39 -0.3412.16 446.65
Essex Cty 2.45 12.22 448.922.40 12.17 447.08
Mdsx Low 2.50 12.27 450.752.35 12.12 445.24
Mdsx High 2.50 12.27 450.752.41 12.18 447.45
Mdsx Average 2.50 -0.2712.27 450.752.38 -0.3512.15 446.34
Hensall 2.53 12.29 451.672.38 12.14 446.16
Bruce 2.50 12.27 450.752.35 12.12 445.24
Putnam 2.50 12.27 450.752.35 12.12 445.24
Burford N/A 2.44 12.21 448.55
Port Perry N/A 2.41 12.18 447.45
Norfolk 2.45 12.22 448.922.45 12.22 448.92
Palmerston 2.45 12.22 448.922.40 12.17 447.08
Varna 2.55 12.32 452.592.40 12.17 447.08
Trenton N/A 2.55 12.32 452.59
Winchester N/A 2.45 12.22 448.92
North Gower N/A 2.49 12.26 450.39
Huron FOB 2.65 12.42 456.272.50 12.27 450.75
Kent FOB N/A 2.50 12.27 450.75
Lambton FOB N/A 2.55 12.32 452.59
Middlesex FOB2.66 2.53 2.64 N/A 12.43 456.632.53 12.30 451.86
PROCESSORS
Hamilton 2.85 2.85 2.97 N/A 12.62 463.612.85 12.62 463.61
Windsor N/A N/A N/A N/A N/A
Winchester N/A N/A
TRANSFER
Prescott 2.89 12.66 465.083.02 12.79 469.86
Toledo El. 0.00 9.77 358.89-0.41 9.35 343.73
Bank of Canada Noon exchange rate was 1.2909 up 0.0014
Chicago wheat closed slightly to moderately higher.
DEC16 HI 4.06 3/4 JUL17 HI 4.52 3/4
LOW 3.98 1/4 LOW 4.43 1/4
CLOSE 4.06 Up 3 1/4 CLOSE 4.52 3/4 Up 6 1/4
Minni wheat closed slightly higher.
DEC16 HI 4.92 3/4 SEP17 HI 5.33
LOW 4.85 3/4 LOW 5.31 3/4
CLOSE 4.92 Up 4 CLOSE 5.32 1/2 Up 4 1/4
GFO Cash Wheat Prices - DEL Terminal
Harvest 16 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.48 0.41 0.54 0.15
CAD $/bu 4.54 4.47 4.60 5.07
CAD $/tonne 166.65 164.28 169.02 186.12
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 0.10 N/A N/A N/A 0.40 N/A
London 0.12 0.12 0.12 N/A 0.41 0.31 0.38 N/A
Hensall 0.10 N/A 0.10 N/A 0.50 N/A 0.40 N/A
Trenton N/A N/A 0.20 N/A N/A N/A 0.45 N/A
Winchester N/A N/A N/A N/A N/A N/A N/A N/A
Essex N/A N/A 0.15 N/A N/A N/A 0.40 N/A
Norwich 0.10 N/A 0.10 N/A 0.50 N/A 0.40 N/A
Port Hope N/A 0.10 0.15 N/A N/A 0.35 0.40 N/A
Kent Bridge 0.10 N/A 0.10 N/A 0.50 N/A 0.40 N/A
Chatham N/A 0.10 0.10 N/A N/A N/A 0.40 N/A
Brigden N/A N/A 0.10 N/A N/A N/A 0.40 N/A
Palmerston N/A 0.13 0.15 0.30 N/A 0.40 0.35 0.45
Varna 0.15 0.10 0.15 N/A 0.50 0.40 0.40 N/A
Mitchell 0.10 0.10 0.10 N/A 0.50 0.35 0.40 N/A
Thornton N/A N/A N/A 0.23 N/A N/A N/A N/A
North Gower N/A 0.26 0.39 -0.01 N/A N/A N/A N/A
TERMINAL
Prescott N/A 0.52 0.60 0.35 N/A 0.60 0.60 0.45
PROCESSORS
Toledo FM N/A N/A 1.19 N/A N/A N/A 1.31 N/A
Toledo El. 3.74US 4.83CA 4.33US 5.58CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 17 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.67 0.60 0.34
CAD $/bu 5.19 5.13 4.87
CAD $/tonne 190.87 188.51 179.03
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 492.30
DDG's FOB Srn & Aylm 175.00 - 180.00
----
Ontario Grain Market Commentary for September 7, 2016 by Marty Hibbs, Grain Farmers of Ontario
Wednesday, September 7, 2016 Closing Prices
COMMODITY
PERIOD
PRICE
WEEKLY MOVEMENT
Corn CBOT
Dec
3.33
↑
18
cents
Soybeans CBOT
Nov
9.75
↑
15
cents
Wheat CBOT
Dec
4.03
↑
15
cents
Wheat Minn.
Dec
4.88
↑
08
cents
Wheat Kansas
Dec
4.11
↑
13
cents
Chicago Oats
Dec
1.75
↓
01
cents
Canadian $
Sep
.7753
↑
1.23
points
CORN: It was a quiet week on most of the grains. Tuesday, September 12 is the next United States Department of Agriculture (USDA) report and we could see some revisions to the yield expectations. Meanwhile, the Labour Day weekend has seen a slight uptick in prices as the $3.15 price on the December contract marks the current lows this year. With the September contract matching an eight year low of $3, and expiring in the next week, we could see more upside later this month.
Short term support is seen at $3 - $3.15 on the December contract. Indicators are still negative but are getting much oversold in all timeframes. The main trend is still down.
SOYBEANS: Soybeans have broken support at the $9.50 level but continue to trade in that area. Meanwhile we actually received another sell signal on our charts. Until we get a more accurate yield count from the September 12 USDA report, there is no reason to expect the downward pressure to subside. The indicators are negative on our November contract with support at $9.25 - $9.50 and major support at the $8.50 price based on the lead contract. The main trend is still down.
WHEAT: Another quiet week in the wheat marketing as we are sitting around the $4 mark on the December futures. The September 12 USDA report could be the catalyst for a bounce in the futures contract towards the $4.20 - $4.30 price, even it’s only a temporary bounce. We currently have a low at the $3.88 mark on the December futures and are sitting at $4.03 as of the close on September 7. Our overhead resistance now stands at $4 - $4.30 on our December contract. Meanwhile, our support level has moved down to our recent lows of $3.85 on the December contract. The indicators are negative, and the main trend is still down.
HARVEST 2016 CROP CASH PRICES as of CLOSE on September 7, 2016
SWW @ $164.92MT ($4.49/bu), HRW @ $162.55/MT ($4.42/bu),
HRS @ $184.35/MT ($5.02/bu), SRW @ $167.29/MT ($4.55/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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Grain Farmers of Ontario
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