[Farmmarketnews] Thursday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Thu Aug 17 15:32:56 EDT 2017
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, August 17
(All Bases in CAD)
Exchange rate was 1.2646 down 0.0015
Chicago corn closed slightly lower.
SEP17 HI 3.53 3/4 DEC17 HI 3.67 3/4
LOW 3.49 1/2 LOW 3.63 1/2
CLOSE3.50 1/2 Down 2 CLOSE 3.64 1/4 Down 2 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 4.11 161.61 0.65 4.29 168.99
CK High 0.65 4.16 163.58 0.65 4.29 168.99
CK Avg 0.62 -0.25 4.12 162.26 0.65 -0.24 4.29 168.99
Essex Cty 0.60 4.11 161.61 0.65 4.29 168.99
Mdsx Low 0.60 4.11 161.61 0.65 4.29 168.99
Mdsx High 0.65 4.16 163.58 0.65 4.29 168.99
Mdsx Avg 0.63 -0.24 4.13 162.59 0.65 -0.24 4.29 168.99
Hensall 0.63 4.13 162.59 0.65 4.29 168.99
Bruce 0.60 4.11 161.61 0.65 4.29 168.99
Putnam 0.60 4.11 161.61 0.65 4.29 168.99
Burford 0.70 4.21 165.54 0.75 4.39 172.93
Port Perry 0.85 4.36 171.45 0.75 4.39 172.93
Norfolk 0.75 4.26 167.51 0.75 4.39 172.93
Palmerston 0.60 4.11 161.61 0.65 4.29 168.99
Varna 0.65 4.16 163.58 0.65 4.29 168.99
Trenton 1.00 4.51 177.35 0.85 4.49 176.86
Winchester 1.00 4.51 177.35 1.10 4.74 186.70
North Gower 0.97 4.48 176.17 1.00 4.64 182.77
Huron FOB 0.95 4.46 175.39 0.75 4.39 172.93
Kent FOB 0.85 4.36 171.45 0.70 4.34 170.96
Lamb FOB 0.80 4.31 169.48 0.65 4.29 168.99
Mdsx FOB 0.75 0.75N/A N/A 4.26 167.51 0.75 4.39 172.93
FOB SW Que 1.56 5.07 199.40N/A
Track 1.15 4.66 183.26N/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 4.44 174.89
Sarn-Eth 1.00 0.95N/A 0.85 4.51 177.35 0.85 4.49 176.86
Kawartha N/A N/A N/A N/A N/A
London-Ing N/A N/A 1.30 1.05 1.05 4.69 184.74
Pt.Colb-Ing N/A N/A N/A 1.00 1.00 4.64 182.77
Cardnl-Ing N/A N/A 1.40 1.10 1.40 5.04 198.51
W O Feed 1.36 4.87 191.61
US Rep 1.36 4.87 191.53
Toledo El. -0.09 3.42 134.50 -0.28 3.37 132.48
TRANSFER
Sarnia N/A 0.65 4.29169
MID SD CRN 0.65 4.29 1/4
HI SD CRN 0.65 4.29 1/4
*Wet Bid
Exchange rate was 1.2646 down 0.0015
Chicago soybeans closed slightly higher.
NOV17 HI 9.35 NOV17 HI 9.35
LOW 9.25 3/4 LOW 9.25 3/4
CLOSE9.33 Up 7 3/4 CLOSE 9.33 Up 7 3/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt
ELEVATORS +NOV1+NOV1+NOV17
CK Low 1.85 11.18 410.791.60 10.93 401.61
CK High 2.00 11.33 416.311.75 11.08 407.12
CK Average 1.93 -0.4311.26 413.551.66 -0.6110.99 403.94
Essex Cty 1.90 11.23 412.631.60 10.93 401.61
Mdsx Low 1.91 11.24 413.001.69 11.02 404.92
Mdsx High 1.95 11.28 414.471.70 11.03 405.28
Mdsx Average 1.93 -0.4311.26 413.731.70 -0.5811.03 405.10
Hensall 1.96 11.29 414.841.73 11.06 406.20
Bruce 1.95 11.28 414.471.70 11.03 405.28
Putnam 1.97 11.30 415.201.80 11.13 408.96
Burford 1.98 11.31 415.571.76 11.09 407.49
Port Perry 1.91 11.24 413.001.69 11.02 404.92
Norfolk 1.95 11.28 414.471.70 11.03 405.28
Palmerston 1.85 11.18 410.791.70 11.03 405.28
Varna 2.02 11.35 417.041.80 11.13 408.96
Trenton 1.95 11.28 414.471.80 11.13 408.96
Winchester 1.80 11.13 408.962.00 11.33 416.31
North Gower 1.79 11.12 408.591.97 11.30 415.20
Huron FOB 2.07 11.40 418.881.85 11.18 410.79
Kent FOB 2.00 11.33 416.311.65 10.98 403.45
Lambton FOB 2.10 11.43 419.981.80 11.13 408.96
Middlesex FOB2.14 2.08 N/A N/A 11.47 421.451.88 11.21 411.90
PROCESSORS
Hamilton 2.51 2.31 2.20 2.25 11.84 435.052.20 11.53 423.65
N/A N/A N/A
TRANSFER
Prescott 2.00 11.33 416.312.19 11.52 423.29
Sarnia 2.37 11.70 429.902.18 11.51 422.92
Toledo El. -0.28 9.05 332.60-0.64 8.69 319.19
Exchange rate was 1.2646 down 0.0015
Chicago wheat closed slightly to moderately lower.
SEP17 HI 4.22 1/4 JUL18 HI 4.99 3/4
LOW 4.12 1/4 LOW 4.91 1/2
CLOSE 4.14 Down 5 1/4 CLOSE 4.92 3/4 Down 3 3/4
Minni wheat closed mixed.
SEP17 HI 6.77 1/2 SEP18 HI 6.30
LOW 6.65 LOW 6.27 1/2
CLOSE 6.70 1/4 Down 3 1/4 CLOSE 6.28 1/4 Up 2
GFO Cash Wheat Prices - DEL Terminal
Harvest 17 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.72 0.91 0.84 0.13
CAD $/bu 4.86 5.05 4.98 6.83
CAD $/tonne 178.43 185.40 183.08 251.04
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 0.65 0.71 0.52 N/A 0.79 0.60 0.54 N/A
Hensall 0.70 N/A 0.60 N/A 0.90 N/A 0.60 N/A
Trenton N/A N/A 0.85 N/A N/A N/A 0.85 N/A
Bruce 0.70 0.60 0.60 0.25 0.90 0.65 0.60 0.35
Essex N/A N/A 0.49 N/A N/A N/A 0.67 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 0.55 N/A N/A N/A 0.60 N/A
Brigden N/A N/A 0.55 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 -0.52 N/A N/A N/A N/A
North Gower N/A 0.93 0.86 0.15 N/A 0.96 0.96 0.26
W O Feed 1.10
TERMINAL
Sarnia N/A N/A 0.81 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 1.22N/A N/A N/A N/A N/A
Toledo El. 4.09US 5.17CA 4.73US 5.96CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 18 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.78 0.78 0.78 0.25
CAD $/bu 5.71 5.71 5.71 6.53
CAD $/tonne 209.73 209.73 209.73 240.07
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 438.84
DDG's FOB Srn & Aylm 140.00 - 155.00
---
Ontario Grain Market Commentary for August 16, 2017
By Marty Hibbs, Grain Farmers of Ontario
Wednesday, August 16 2017 Closing Prices
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT Sept 3.52 ↓ 20 cents
Soybeans CBOT Nov 9.25 ↓ 53 cents
Wheat CBOT Sept 4.20 ↓ 44 cents
Wheat Minn. Sept 6.73 ↓ 60 cents
Wheat Kansas Sept 4.20 ↓ 24 cents
Chicago Oats Sept 2.60 ↓ 10 cents
Canadian $ Sept .7898 ↑ .15 points
Corn: Corn moved lower again to test the all-important $3.50 support area that we have spoken about for the last three weeks. As of this writing, we are trading at $3.50. Since we have dropped vertical to this support level, I feel we should get some sort of reprieve in the form of a bounce in prices over the next week. This of course does not have to follow my thinking but we seem to be taking a breather. If we continue lower and close below the $3.50 level there is a very good chance that we will be visiting the 2016 lows of last fall.
Initial support on the September futures is seen here at $3.50, 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: Soybeans are pushing on the support level once again and if we finally break through with a close below the important $9 level on November we could be in for another 50 cents worth of downside as we have mentioned so many times in the past six months. Soybeans, unlike wheat, did not really participate in the July rally but instead offered just an opportunity to sell some of your crop. Our red sell signal from August 3 has dealt us a 50 cent per bushel drop in the past two weeks. All of the grains are currently sitting at their respective support levels as of this writing and it will be interesting to see how next week plays out.
Initial support is at $9 with overhead resistance at $9.75 - $10 on the November contract.
Short term indicators are negative and the primary trend is still down.
Wheat: Our June 1 rally in wheat gave us some hope for a bright future with prices surging into the first week of July. Then came the reversal. But not just a normal reversal, rather a trend reversal drop that wiped out the entire rally and posted new lows from the June 1 date - all within a six-week period. We had a support line at the $4.20 level on the September contract and we closed August 16 at $4.19 ¼ . This move has rattled our markets but it has lead me to believe that there still may be a chance that a breath of life in the trend changing move may still exist since the bear market has been neutralized if not reversed. That being said, we could see the market slowly regain some strength in the coming months. For the time being we need to view any rallies in the coming weeks as selling opportunities. Support lines cut across the $4.16 level on the September chart while the bullish indicator we received back in January is actually still intact on the weekly chart.
Harvest 2017 prices as of the close, August 16 are as follows:
SWW @ $182.43/MT ($4.96/bu), HRW @ $189.46/MT ($5.16/bu),
HRS @ $254.49/MT ($6.93/bu), SRW @ $187.11/MT ($5.09/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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