[Farmmarketnews] Wednesday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Sep 14 15:58:15 EDT 2016
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, September 14
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.3189 up 0.0022
Chicago corn closed slightly higher.
DEC16 HI 3.32 1/4 DEC16 HI 3.32 1/4
LOW 3.26 1/2 LOW 3.26 1/2
CLOSE3.31 3/4 Up 1 3/4 CLOSE 3.31 3/4 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 +DEC16+DEC16+MAR17
CK Low 1.05 4.37 171.94 0.90 4.22 166.04
CK High 1.10 4.42 173.91 0.95 4.27 168.00
CK Avg 1.09 0.02 4.41 173.58 0.92 -0.10 4.23 166.69
Essex Cty 1.10 4.42 173.91 0.90 4.22 166.04
Mdsx Low 1.05 4.37 171.94 0.90 4.22 166.04
Mdsx High 1.10 4.42 173.91 0.90 4.22 166.04
Mdsx Avg 1.08 0.01 4.39 172.93 0.90 -0.12 4.22 166.04
Hensall 1.08 4.39 172.93 0.90 4.22 166.04
Bruce 1.05 4.37 171.94 0.90 4.22 166.04
Putnam 1.05 4.37 171.94 0.90 4.22 166.04
Burford 1.05 4.37 171.94 0.90 4.22 166.04
Port Perry 1.05 4.37 171.94 0.90 4.22 166.04
Norfolk 1.10 4.42 173.91 0.95 4.27 168.00
Palmerston 1.10 4.42 173.91 0.90 4.22 166.04
Varna 1.05 4.37 171.94 0.90 4.22 166.04
Trenton 1.20 4.52 177.85 1.00 4.32 169.97
Winchester N/A 1.20 4.52 177.85
North Gower 1.19 4.51 177.45 1.11 4.43 174.30
Huron FOB 1.15 4.47 175.88 0.90 4.22 166.04
Kent FOB 1.10 4.42 173.91 0.95 4.27 168.00
Lamb FOB 1.20 4.52 177.85 0.85 4.17 164.07
Mdsx FOB 1.10N/A N/A N/A 4.42 173.91 0.95 4.27 168.00
FOB SW Que 1.65 4.97 195.56N/A
Track 1.51 4.83 190.05N/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 4.57 179.81
Aylmer-Eth N/A 1.25N/A 1.15 N/A
Sarn-Eth 1.30 1.15N/A 1.15 4.62 181.78 1.15 4.47 175.88
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 4.37 171.94
Cardnl-Ing N/A 1.35 1.15 1.36 1.15 4.47 175.88
W O Feed 1.52 4.84 190.44
US Rep 1.58 4.90 192.81
Toledo El. -0.20 3.12 122.81 -0.26 3.05 120.23
MID SD CRN 0.92 1/2 4.24 1/4
HI SD CRN 0.95 4.26 3/4
*Wet Bid
Bank of Canada Noon exchange rate was 1.3189 up 0.0022
Chicago soybeans closed slightly lower to steady.
NOV16 HI 9.48 NOV17 HI 9.35
LOW 9.40 1/2 LOW 9.29 1/4
CLOSE9.42 3/4 Down 1 1/4 CLOSE 9.30 3/4 Unchanged
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt
ELEVATORS +NOV1+NOV1+JAN17
CK Low 2.60 12.03 441.932.05 11.36 417.32
CK High 2.65 12.08 443.772.15 11.46 420.99
CK Average 2.63 -0.3012.06 442.982.10 -0.6511.41 419.28
Essex Cty 2.65 12.08 443.772.10 11.41 419.15
Mdsx Low 2.60 12.03 441.932.05 11.36 417.32
Mdsx High 2.60 12.03 441.932.10 11.41 419.15
Mdsx Average 2.60 -0.3212.03 441.932.08 -0.6711.38 418.24
Hensall 2.63 12.05 442.852.05 11.36 417.32
Bruce 2.60 12.03 441.932.05 11.36 417.32
Putnam 2.60 12.03 441.932.05 11.36 417.32
Burford 2.63 12.06 443.042.13 11.44 420.26
Port Perry 2.60 12.03 441.932.10 11.41 419.15
Norfolk 2.65 12.08 443.772.10 11.41 419.15
Palmerston 2.65 12.08 443.772.10 11.41 419.15
Varna 2.65 12.08 443.772.05 11.36 417.32
Trenton 2.70 12.13 445.612.00 11.31 415.48
Winchester 2.62 12.05 442.672.09 11.40 418.79
North Gower 2.62 12.05 442.672.15 11.46 420.99
Huron FOB 2.75 12.18 447.452.15 11.46 420.99
Kent FOB 2.70 12.13 445.612.10 11.41 419.15
Lambton FOB 2.80 12.23 449.282.35 11.66 428.34
Middlesex FOB2.83 2.70 N/A N/A 12.26 450.392.27 11.58 425.40
PROCESSORS
Hamilton 3.15 3.15 3.22 N/A 12.58 462.14 N/A
Windsor N/A N/A N/A N/A N/A
Winchester N/A N/A
TRANSFER
Prescott 3.23 12.66 465.082.57 11.88 436.42
Toledo El. -0.42 9.01 330.88-0.33 8.98 329.89
Bank of Canada Noon exchange rate was 1.3189 up 0.0022
Chicago wheat closed slightly higher.
DEC16 HI 4.04 1/4 JUL17 HI 4.50 1/4
LOW 3.95 LOW 4.40 1/2
CLOSE 4.03 Up 2 CLOSE 4.49 3/4 Up 3 1/4
Minni wheat closed slightly lower.
DEC16 HI 4.95 3/4 SEP17 HI 5.35
LOW 4.88 1/4 LOW 5.28
CLOSE 4.93 Down 1/4 CLOSE 5.31 3/4 Down 1 1/2
GFO Cash Wheat Prices - DEL Terminal
Harvest 16 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.56 0.50 0.63 0.26
CAD $/bu 4.59 4.53 4.66 5.19
CAD $/tonne 168.80 166.38 171.23 190.63
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 0.15 N/A N/A 0.45 0.45 N/A
London 0.21 0.21 0.21 N/A 0.55 0.42 0.48 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 0.13 0.13 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 0.15 0.20 N/A N/A N/A 0.45 N/A
Brigden N/A N/A 0.20 N/A N/A N/A 0.45 N/A
Palmerston N/A 0.21 0.15 0.30 N/A 0.40 0.35 0.45
Varna 0.20 0.15 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 0.30 N/A N/A N/A N/A
North Gower N/A 0.38 0.51 0.15 N/A N/A N/A N/A
TERMINAL
Prescott N/A 0.60 0.60 0.42 N/A N/A 0.60 0.56
PROCESSORS
Toledo FM N/A N/A 1.29 N/A N/A N/A 1.43 N/A
Toledo El. 3.76US 4.96CA 4.30US 5.66CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 17 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.77 0.70 0.44
CAD $/bu 5.27 5.20 4.94
CAD $/tonne 193.56 191.14 181.45
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 470.36
DDG's FOB Srn & Aylm 180.00 - 185.00
----
Weekly Ontario Grain Market Commentary for September 14, 2016 by Marty Hibbs, Grain Farmers of Ontario
Wednesday, September 14, 2016 Closing Prices
COMMODITY
PERIOD
PRICE
WEEKLY MOVEMENT
Corn CBOT
Dec
3.22
↓
11
cents
Soybeans CBOT
Nov
9.43
↓
32
cents
Wheat CBOT
Dec
4.03
↑
01
cents
Wheat Minn.
Dec
4.92
↑
04
cents
Wheat Kansas
Dec
4.18
↑
07
cents
Chicago Oats
Dec
1.74
↓
01
cents
Canadian $
Sep
.7553
↓
1.63
points
CORN: It was another quiet week for corn, as the United States Department of Agriculture (USDA) report held few surprises. We expect more of the same in the coming weeks as harvest approaches. The next market mover will possibly need some sort of surprise in carryout or yields, and that is a month away. As of this report, the Labour Day weekend lows of $3.15 on the December contract are still holding. We did receive a buy signal on the daily chart, but the weekly and monthly charts remain entrenched in a multi-year downtrend, and it will take a lot of work to reverse this situation. The September contract is expiring this week which could alleviate some downward pressure.
Short term support is seen at $3 - $3.15 on the December contract, while overhead resistance is seen at the $3.40-$3.60 level on the lead month. The main trend is still down.
SOYBEANS: Beans continued lower this week after the USDA report on September 12. Harvest has begun in the southern states and even in some of the northern states, and until there is an accurate estimate of the yields, we could see continued pressure on the new crop. We continue to see support at $9.25 - $9.50, and major support at the $8.50 price based on the lead contract. All indicators are negative at this time and not in the extreme oversold condition of corn. The main trend is still down.
WHEAT: With the September wheat contract going off the board, we may see a bounce in the December contract prices. The Labour Day weekend lows of $3.88 on the December contract is the current bottom, but this is a very heavy market and we will probably negate that Labour Day low point very soon. According to the chart formations, we could possibly test the next support level at the $3.60 mark on the December contract. Overhead resistance is located at the $4.20 - $4.30 price on December contract. The indicators are still negative, and the main trend is still down.
HARVEST 2016 CROP CASH PRICES as of CLOSE on September 14, 2016
SWW @ $168.76MT ($4.59/bu), HRW @ $166.34/MT ($4.53/bu),
HRS @ $190.58/MT ($5.19/bu), SRW @ $171.19/MT ($4.66/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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