[Farmmarketnews] Wednesday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Apr 12 15:26:09 EDT 2017
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, April 12
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.3302 down 0.0033
Chicago corn closed slightly higher.
MAY17 HI 3.71 1/2 DEC17 HI 3.94 1/2
LOW 3.66 1/4 LOW 3.90
CLOSE3.69 Up 2 1/2 CLOSE 3.92 1/2 Up 2
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt U.S. $/bu $/mt Cntrct U.S. $/bu $/mt
ELEVATORS +JUL17+JUL17+SEP17
CK Low 0.70 4.39 172.83 0.85 4.78 187.98
CK High 0.80 4.49 176.76 0.90 4.83 189.95
CK Avg 0.78 -0.33 4.47 176.11 0.89 -0.30 4.82 189.62
Essex Cty 0.55 4.24 166.92 0.80 4.73 186.02
Mdsx Low 0.80 4.49 176.76 0.90 4.83 189.95
Mdsx High 0.80 4.49 176.76 0.90 4.83 189.95
Mdsx Avg 0.80 -0.31 4.49 176.76 0.90 -0.30 4.83 189.95
Hensall 0.80 4.49 176.76 0.93 4.85 190.94
Bruce 0.80 4.49 176.76 1.00 4.93 193.89
Putnam 0.75 4.44 174.80 0.85 4.78 187.98
Burford 0.85 4.54 178.73 0.90 4.83 189.95
Port Perry 1.00 4.69 184.64 0.90 4.83 189.95
Norfolk 0.90 4.59 180.70 1.00 4.93 193.89
Palmerston 0.75 4.44 174.80 0.90 4.83 189.95
Varna 0.80 4.49 176.76 0.95 4.88 191.92
Trenton 1.05 4.74 186.61 0.95 4.88 191.92
Winchester 1.16 4.85 190.94 1.14 5.07 199.40
North Gower 1.12 4.81 189.36 1.00 4.93 193.89
Huron FOB 1.03 4.72 185.82 0.95 4.88 191.92
Kent FOB 1.10 4.79 188.57 0.90 4.83 189.95
Lamb FOB 1.00 4.69 184.64 0.85 4.78 187.98
Mdsx FOB 0.85 0.90 0.90 0.90 4.54 178.73 0.90 4.83 189.95
FOB SW Que 1.35 5.04 198.42N/A
Track 1.20 4.89 192.51N/A
PROCESSORS
Chat-Eth 1.20 1.30 1.30 1.27 4.89 192.51 1.07 5.00 196.64
Jhnstwn-Eth N/A N/A N/A N/A N/A
Aylmer-Eth N/A N/A N/A 1.25 1.05 4.98 195.86
Sarn-Eth 1.20 1.30 1.30N/A 4.89 192.51N/A
Kawartha N/A N/A N/A N/A N/A
London-Ing N/A N/A N/A 1.30 1.10 5.03 197.83
Pt.Colb-Ing N/A N/A N/A N/A N/A
Cardnl-Ing N/A N/A N/A N/A 1.25 5.18 203.73
W O Feed 1.36 5.05 198.73
US Rep 1.62 5.31 209.05
Toledo El. -0.12 3.57 140.56 -0.33 3.59 141.43
TRANSFER
Sarnia 1.10 4.79 188.57 0.95 4.88192
MID SD CRN 0.75 4.441
HI SD CRN 0.80 4.49
*Wet Bid
Bank of Canada Noon exchange rate was 1.3302 down 0.0033
Chicago soybeans closed slightly higher.
MAY17 HI 9.51 1/2 NOV17 HI 9.58 1/2
LOW 9.41 1/4 LOW 9.49 1/2
CLOSE9.47 3/4 Up 8 1/2 CLOSE 9.55 1/2 Up 7
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt
ELEVATORS +MAY1+JUL1+JUL17
CK Low 2.43 11.91 437.532.28 11.84 434.86
CK High 2.55 12.03 441.932.45 12.01 441.11
CK Average 2.48 -0.4911.96 439.362.35 -0.6011.90 437.37
Essex Cty 2.55 12.03 441.932.45 12.01 441.11
Mdsx Low 2.43 11.91 437.532.29 11.85 435.23
Mdsx High 2.50 11.98 440.102.35 11.91 437.43
Mdsx Average 2.47 -0.5011.94 438.812.32 -0.6311.88 436.33
Hensall 2.53 12.00 441.022.38 11.93 438.35
Bruce 2.50 11.98 440.102.35 11.91 437.43
Putnam 2.50 11.98 440.102.40 11.96 439.27
Burford 2.54 12.02 441.572.40 11.96 439.27
Port Perry 2.43 11.91 437.532.29 11.85 435.23
Norfolk 2.55 12.03 441.932.38 11.94 438.54
Palmerston 2.60 12.08 443.772.50 12.06 442.95
Varna 2.55 12.03 441.932.40 11.96 439.27
Trenton 2.50 11.98 440.102.40 11.96 439.27
Winchester 2.47 11.95 439.002.42 11.98 440.01
North Gower 2.40 11.88 436.422.44 12.00 440.74
Huron FOB 2.70 12.18 447.452.50 12.06 442.95
Kent FOB 2.60 12.08 443.772.28 11.84 434.86
Lambton FOB 2.60 12.08 443.772.45 12.01 441.11
Middlesex FOB2.60 2.60 N/A N/A 12.08 443.772.46 12.02 441.48
PROCESSORS
Hamilton 2.92 2.86 N/A N/A 12.40 455.532.86 12.42 456.17
N/A N/A N/A
TRANSFER
Prescott 2.59 12.07 443.402.79 12.35 453.60
Sarnia 2.36 11.84 434.952.62 12.18 447.35
Toledo El. -0.33 9.15 336.02-0.56 9.00 330.56
Bank of Canada Noon exchange rate was 1.3302 down 0.0033
Chicago wheat closed slightly lower to steady.
MAY17 HI 4.36 1/2 JUL17 HI 4.49 1/2
LOW 4.31 1/2 LOW 4.44 3/4
CLOSE 4.33 1/4 Unchanged CLOSE 4.46 1/4 Down 1 1/4
Minni wheat closed slightly higher.
MAY17 HI 5.37 1/4 SEP17 HI 5.52
LOW 5.27 3/4 LOW 5.44
CLOSE 5.28 3/4 Up 1 CLOSE 5.45 1/2 Up 2
GFO Cash Wheat Prices - DEL Terminal
Harvest 16 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.70 0.70 0.70 0.28
CAD $/bu 5.03 5.03 5.03 5.57
CAD $/tonne 184.82 184.82 184.82 204.61
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 0.70 N/A N/A N/A 0.75 N/A
London 0.76 0.76 0.69 N/A 0.94 0.67 0.74 N/A
Hensall 0.80 N/A 0.70 N/A 0.90 N/A 0.75 N/A
Trenton N/A N/A N/A N/A N/A N/A 0.90 N/A
Bruce 0.80 0.70 0.70 0.40 0.90 0.70 0.75 0.60
Essex N/A N/A 0.51 N/A N/A N/A 0.65 N/A
Norwich 0.80 N/A 0.70 N/A 0.90 N/A 0.75 N/A
Port Hope N/A N/A 0.70 N/A N/A 0.75 0.85 N/A
Kent Bridge 0.80 N/A 0.70 N/A 0.90 N/A 0.75 N/A
Chatham N/A N/A 0.70 N/A N/A N/A 0.70 N/A
Brigden N/A N/A 0.70 N/A N/A N/A 0.70 N/A
Palmerston N/A 0.70 0.70 N/A N/A 0.75 0.75 0.60
Varna 0.80 0.70 0.70 N/A 1.05 0.75 0.75 N/A
Mitchell 0.80 0.70 0.70 N/A 0.90 0.75 0.75 N/A
Thornton N/A N/A N/A 0.39 N/A N/A N/A N/A
North Gower N/A 0.60 0.60 0.08 N/A 1.12 1.12 0.64
W O Feed 1.38
TERMINAL
Sarnia N/A N/A 1.02 N/A 1.35 N/A 1.12 N/A
Prescott N/A N/A N/A N/A N/A N/A 1.01 N/A
PROCESSORS
Toledo FM N/A N/A 1.43N/A N/A N/A 1.47N/A
Toledo El. 4.23US 5.63CA 4.31US 5.73CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 17 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.07 1.07 1.07 0.74
CAD $/bu 5.54 5.54 5.54 6.19
CAD $/tonne 203.39 203.39 203.39 227.45
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 460.44
DDG's FOB Srn & Aylm 175.00
----
Ontario Grain Market Commentary for April 12, 2017 by Todd Austin, Grain Farmers of Ontario
Wednesday, April 12, 2017
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT May 3.69 ↑ 4 ¼ cents
Soybeans CBOT May 9.47¾ ↑ 3 ½ cents
Wheat CBOT May 4.33¼ ↑ 3 ¼ cents
Wheat Minn. May 5.30 ½ ↑ 5 cents
Wheat Kansas May 4.30 ½ ↑ 8 ¾ cents
Chicago Oats May 2.24 ½ ↑ 2 cents
Canadian $ June 0.75190 ↑ 55 points
CORN:
The USDA report issued on April 11 indicated no net change in carryout from the previous month’s report of 2.32 billion bushels. Feed usage was decreased by 50 million bushels, which was offset with a 50 million bushel increase in ethanol usage. Globally, the USDA has increased Argentina’s corn production by 1 million tonne and Brazil’s by 2 million tonnes.
US plantings, as reported by the National Agricultural Statistics Service (NASS) was 3 percent complete. Wet weather forecasts in parts of the US Midwest would suggest some delays in planting, but would be too early to indicate shifts in acreage to other commodities.
SOYBEANS:
The recent USDA report increased soybean carryout to 445 million bushels, an increase of 10 million bushels from the March report. Seed usage increased by 9 million bushels, while residual was decreased by 19 million bushels.
Argentina production is estimated to be 56 million tonnes, up 500,000 tonnes. Brazilian soy production is expected to be 111 million tonnes, up 3 million tonnes from previous estimates. Similarly to it neighbours, Paraguay’s production has also been pegged higher, by 1 million tonnes. Large production in both North and South America indicates a global carryout of 87.4 million tonnes, which is more than previously estimated.
On the demand side, China has raised their 2016/17 soybean imports estimate to 86.55 million tonnes, from 85.31 million tonnes. It was estimated that China imported 82.5 million tonnes in the 2015/16 marketing year. The USDA has forecast China’s demand for soybeans for the 2017 /18 marketing year at 89 million tonnes.
WHEAT:
US winter wheat conditions have benefited from recent rains as the percent good to excellent increased to 53 percent this past week, up 2 percent from the previous week. However, the same rains have actually delayed spring wheat plantings, with only 5 percent planted versus 12 percent, this time last year.
The USDA report increased wheat carryout by 30 million bushels, as they have estimated a lower feed usage by 35 million bushels, but also timed imports by 5 million bushels. Breaking down the carryout by wheat class, soft red wheat carryout has been increasing year over year and is now estimated to be 230 million bushels, which is a significant increase from last year’s 157 million bushels
HARVEST 2017 cash prices for April 12, 2017, at the market close, are as follows:
SWW at $203.42/MT ($5.54/bu), HRW at $203.42/MT ($5.54/bu),
HRS at $227.49/MT ($6.19/bu), and SRW at $203.42/MT ($5.54/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>
Click on this link: farmmarketnews-unsubscribe at list.gfo.ca to unsubscribe from this report.
This Farm Market News product is sponsored by:
Grain Farmers of Ontario
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