[Farmmarketnews] Thursday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Thu Aug 10 15:27:27 EDT 2017
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, August 10
(All Bases in CAD)
Exchange rate was 1.2714 up 0.0020
Chicago corn closed lower.
SEP17 HI 3.75 1/2 DEC17 HI 3.89
LOW 3.56 1/2 LOW 3.70 1/4
CLOSE3.57 1/4 Down 15 CLOSE 3.71 Down 15 1/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt U.S. $/bu $/mt Cntrct U.S. $/bu $/mt
ELEVATORS +DEC17+DEC17+DEC17
CK Low 0.60 4.17 164.26 0.65 4.36 171.65
CK High 0.60 4.17 164.26 0.65 4.36 171.65
CK Avg 0.60 -0.29 4.17 164.26 0.65 -0.28 4.36 171.65
Essex Cty 0.60 4.17 164.26 0.65 4.36 171.65
Mdsx Low 0.60 4.17 164.26 0.65 4.36 171.65
Mdsx High 0.60 4.17 164.26 0.65 4.36 171.65
Mdsx Avg 0.60 -0.29 4.17 164.26 0.65 -0.28 4.36 171.65
Hensall 0.60 4.17 164.26 0.65 4.36 171.65
Bruce 0.60 4.17 164.26 0.65 4.36 171.65
Putnam 0.55 4.12 162.30 0.60 4.31 169.68
Burford 0.65 4.22 166.23 0.75 4.46 175.58
Port Perry 0.80 4.37 172.14 0.70 4.41 173.61
Norfolk 0.70 4.27 168.20 0.75 4.46 175.58
Palmerston 0.60 4.17 164.26 0.65 4.36 171.65
Varna 0.60 4.17 164.26 0.65 4.36 171.65
Trenton 1.00 4.57 180.01 0.85 4.56 179.52
Winchester 1.02 4.59 180.80 1.09 4.80 188.97
North Gower 0.97 4.54 178.83 0.95 4.66 183.46
Huron FOB 0.90 4.47 176.07 0.75 4.46 175.58
Kent FOB 0.80 4.37 172.14 0.70 4.41 173.61
Lamb FOB 0.80 4.37 172.14 0.65 4.36 171.65
Mdsx FOB 0.75 0.75N/A N/A 4.32 170.17 0.75 4.46 175.58
FOB SW Que 1.49 5.06 199.30N/A
Track 1.05 4.62 181.98N/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 0.95N/A 0.80 0.80 4.51 177.55
Sarn-Eth 1.00 0.95N/A 0.85 4.57 180.01 0.85 4.56 179.52
Kawartha N/A N/A N/A N/A N/A
London-Ing N/A N/A 1.25 1.05 1.05 4.76 187.39
Pt.Colb-Ing N/A N/A N/A 1.00 1.00 4.71 185.42
Cardnl-Ing N/A N/A 1.25 1.10 1.25 4.96 195.27
W O Feed 1.33 4.90 193.00
US Rep 1.35 4.92 193.79
Toledo El. -0.11 3.46 136.14 -0.32 3.39 133.56
TRANSFER
Sarnia N/A 0.65 4.36171 2/3
MID SD CRN 0.65 4.36
HI SD CRN 0.65 4.36
*Wet Bid
Exchange rate was 1.2714 up 0.0020
Chicago soybeans closed lower.
NOV17 HI 9.88 1/2 NOV17 HI 9.88 1/2
LOW 9.38 1/2 LOW 9.38 1/2
CLOSE9.40 1/4 Down 33 CLOSE 9.40 1/4 Down 33
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt
ELEVATORS +NOV1+NOV1+NOV17
CK Low 1.95 11.35 417.131.74 11.14 409.42
CK High 2.05 11.45 420.811.90 11.30 415.30
CK Average 2.01 -0.4311.41 419.281.80 -0.5811.20 411.56
Essex Cty 2.00 11.40 418.971.70 11.10 407.95
Mdsx Low 2.00 11.40 418.971.80 11.20 411.62
Mdsx High 2.01 11.41 419.341.85 11.25 413.46
Mdsx Average 2.01 -0.4311.41 419.151.83 -0.5611.23 412.54
Hensall 2.00 11.40 418.791.85 11.25 413.46
Bruce 2.00 11.40 418.971.85 11.25 413.46
Putnam 2.00 11.40 418.971.85 11.25 413.46
Burford 2.08 11.48 421.911.87 11.27 414.19
Port Perry 2.01 11.41 419.341.80 11.20 411.62
Norfolk N/A 1.85 11.25 413.46
Palmerston 1.85 11.25 413.461.80 11.20 411.62
Varna 1.99 11.39 418.601.85 11.25 413.46
Trenton 2.00 11.40 418.971.80 11.20 411.62
Winchester 1.95 11.35 417.131.91 11.31 415.66
North Gower 1.84 11.24 413.091.94 11.34 416.77
Huron FOB 2.09 11.49 422.281.95 11.35 417.13
Kent FOB 2.15 11.55 424.481.80 11.20 411.62
Lambton FOB 2.20 11.60 426.321.95 11.35 417.13
Middlesex FOB2.25 2.18 N/A N/A 11.65 428.161.98 11.38 418.24
PROCESSORS
Hamilton 2.70 2.52 2.40 2.45 12.10 444.692.40 11.80 433.67
N/A N/A N/A
TRANSFER
Prescott 2.00 11.40 418.972.31 11.71 430.36
Sarnia 2.27 11.67 428.892.17 11.57 425.22
Toledo El. -0.33 9.07 333.34-0.65 8.76 321.69
Exchange rate was 1.2714 up 0.0020
Chicago wheat closed lower.
SEP17 HI 4.62 JUL18 HI 5.33 1/4
LOW 4.39 1/4 LOW 5.13 1/2
CLOSE 4.40 1/2 Down 19 CLOSE 5.14 1/4 Down 16 1/2
Minni wheat closed lower to limit down.
SEP17 HI 7.41 3/4 SEP18 HI 6.50 3/4
LOW 7.02 1/2 LOW 6.29 3/4
CLOSE 7.03 1/4 Down 30 3/4 CLOSE 6.29 3/4 Down 15 1/4
GFO Cash Wheat Prices - DEL Terminal
Harvest 17 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.81 0.81 0.75 0.00
CAD $/bu 5.22 5.22 5.16 7.03
CAD $/tonne 191.77 191.77 189.43 258.45
Direct MarkHarvest 2017 Harvest 2018
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 N/A 0.60 N/A
London 0.75 0.69 0.56 N/A 0.88 0.69 0.62 N/A
Hensall 0.70 N/A 0.60 N/A 0.90 N/A 0.60 N/A
Trenton N/A N/A 0.90 N/A N/A N/A 0.90 N/A
Bruce 0.75 0.65 0.60 0.25 0.85 0.65 0.60 0.35
Essex N/A N/A 0.52 N/A N/A N/A 0.74 N/A
Norwich 0.70 N/A 0.60 N/A 0.90 N/A 0.60 N/A
Port Hope N/A 0.75 0.75 N/A N/A 0.65 0.70 N/A
Kent Bridge 0.70 N/A 0.60 N/A 0.90 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 0.60 0.55 0.25 N/A 0.65 0.60 0.35
Varna 0.90 0.65 0.60 N/A 0.85 0.65 0.60 N/A
Mitchell 0.70 0.60 0.60 N/A 0.90 0.65 0.60 N/A
Thornton N/A N/A N/A -0.48 N/A N/A N/A N/A
North Gower N/A 0.86 0.79 0.07 N/A 1.05 1.05 0.34
W O Feed 1.13
TERMINAL
Sarnia N/A N/A 0.87 N/A N/A N/A N/A N/A
Prescott N/A N/A N/A N/A N/A N/A N/A N/A
PROCESSORS
Toledo FM N/A N/A 1.32N/A N/A N/A N/A N/A
Toledo El. 4.36US 5.54CA 4.94US 6.27CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 18 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.88 0.88 0.88 0.30
CAD $/bu 6.02 6.02 6.02 6.60
CAD $/tonne 221.22 221.22 221.22 242.45
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 435.20
DDG's FOB Srn & Aylm 155.00 - 160.00
----
Ontario Grain Market Commentary for August 9, 2017
By Marty Hibbs, Grain Farmers of Ontario
Wednesday, August 9 2017 Closing Prices
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT Sept 3.72 ↑ 07 cents
Soybeans CBOT Nov 9.73 ↓ 03 cents
Wheat CBOT Sept 4.64 ↑ 04 cents
Wheat Minn. Sept 7.34 ↑ 11 cents
Wheat Kansas Sept 4.64 ↓ 01 cents
Chicago Oats Sept 2.70 ↓ 18 cents
Canadian $ Sept .7881 ↓ .85 points
Corn: As expected, we traded to $3.60 and support has held so far. A break below the $3.50 level on the September chart on a close would suggest lower prices coming into the end of summer. For now, not much has changed. The trading range is $3.50 - $4 on the lead month contract. The primary down-trend line sits at the $4 level on the lead month contract.
Initial support on the September futures is seen at $3.50 - $3.60, while overhead resistance is still at $4, also on the September contract.
Short term indicators are neutral and the primary trend is still down.
Soybeans: We pulled back to the support level as projected last month of $9.50 - $9.60 on the new crop soybeans for November. This week we received another red sell signal on the daily chart which nullifies the buy signal from July 3. This does not mean that we will continue lower immediately, it does suggest that any rally here could be short lived. Soybeans were never really close to a trend change as we saw in the wheat and the overhead trend-line was firm and pushed prices lower after they failed to negate the $10.25 - $10.50 trend line on the weekly charts.
Initial support is at the $9.55 level while a potential rally could see the $10 level tested once again in the coming weeks.
Short term indicators are now neutral and the primary trend is still down.
Wheat: The first week of July saw Chicago wheat rally from the $4.70 level to a high of $5.70 and all the way back to the $4.70 level of today. Although this looks very bearish, it has changed the positions of the contract holders. This shakeup has set the stage for a bottom action that should play out over the next year. The move shows a long term trend-line has been broken and from here we will see a test of the new uptrend line that currently sits around the $4.20 level on the lead month Chicago contract. Short term indicators are negative; our long term trend is not down but is in more of a neutral pattern. For the short term, it looks as though we are out of gas and any rallies should be viewed as a place to lock in pricing on your 2017 crop.
Harvest 2017 prices as of the close, August 9 are as follows:
SWW @ $200.27/MT ($5.45/bu), HRW @ $200.27/MT ($5.45/bu),
HRS @ $272.31/MT ($7.41/bu), SRW @ $197.93/MT ($5.39/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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