[Farmmarketnews] Thursday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Thu Aug 31 15:18:17 EDT 2017
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, August 31
(All Bases in CAD)
Exchange rate was 1.2496 down 0.0124
Chicago corn closed higher.
DEC17 HI 3.58 1/2 DEC17 HI 3.58 1/2
LOW 3.44 1/4 LOW 3.44 1/4
CLOSE3.57 3/4 Up 12 1/4 CLOSE 3.57 3/4 Up 12 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 0.65 4.23 166.43 0.65 4.23 166.43
CK High 0.70 4.28 168.40 0.75 4.33 170.37
CK Avg 0.68 -0.17 4.26 167.74 0.68 -0.17 4.25 167.41
Essex Cty 0.65 4.23 166.43 0.75 4.33 170.37
Mdsx Low 0.70 4.28 168.40 0.65 4.23 166.43
Mdsx High 0.70 4.28 168.40 0.65 4.23 166.43
Mdsx Avg 0.70 -0.15 4.28 168.40 0.65 -0.19 4.23 166.43
Hensall 0.69 4.27 168.00 0.65 4.23 166.43
Bruce 0.70 4.28 168.40 0.65 4.23 166.43
Putnam N/A 0.65 4.23 166.43
Burford 0.80 4.38 172.33 0.75 4.33 170.37
Port Perry 0.90 4.48 176.27 0.80 4.38 172.33
Norfolk 0.75 4.33 170.37 0.75 4.33 170.37
Palmerston 0.65 4.23 166.43 0.75 4.33 170.37
Varna 0.70 4.28 168.40 0.65 4.23 166.43
Trenton 0.95 4.53 178.24 0.75 4.33 170.37
Winchester N/A 1.10 4.68 184.15
North Gower 0.95 4.53 178.24 1.02 4.60 181.00
Huron FOB 1.12 4.70 184.93 0.75 4.33 170.37
Kent FOB 0.90 4.48 176.27 0.70 4.28 168.40
Lamb FOB 1.00 4.58 180.21 0.65 4.23 166.43
Mdsx FOB 0.70 0.70N/A N/A 4.28 168.40 0.70 4.28 168.40
FOB SW Que 1.58 5.16 203.04N/A
Track 1.20 4.78 188.08N/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 1.15N/A 0.80 0.80 4.38 172.33
Sarn-Eth 0.90 0.90N/A 0.95 4.48 176.27 0.95 4.53 178.24
Kawartha N/A N/A N/A N/A N/A
London-Ing N/A N/A 1.25 0.90 1.00 4.58 180.21
Pt.Colb-Ing N/A N/A N/A 1.05 1.05 4.63 182.18
Cardnl-Ing N/A N/A 1.45 1.05 1.05 4.63 182.18
W O Feed 1.45 5.03 198.08
US Rep 1.35 4.93 193.99
Toledo El. -0.29 3.29 129.53 -0.27 3.30 130.02
TRANSFER
Sarnia N/A N/A
MID SD CRN 0.70 4.27 3/4
HI SD CRN 0.75 4.32 3/4
*Wet Bid
Exchange rate was 1.2496 down 0.0124
Chicago soybeans closed moderately higher.
NOV17 HI 9.48 3/4 NOV17 HI 9.48 3/4
LOW 9.32 1/4 LOW 9.32 1/4
CLOSE9.45 1/4 Up 12 CLOSE 9.45 1/4 Up 12
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt
ELEVATORS +NOV1+NOV1+NOV17
CK Low 1.90 11.35 417.131.55 11.00 404.27
CK High 2.00 11.45 420.811.65 11.10 407.95
CK Average 1.95 -0.3311.40 419.031.60 -0.6111.05 405.99
Essex Cty 1.95 11.40 418.971.55 11.00 404.27
Mdsx Low 1.97 11.42 419.711.64 11.09 407.58
Mdsx High 2.00 11.45 420.811.65 11.10 407.95
Mdsx Average 1.99 -0.3011.44 420.261.65 -0.5711.10 407.76
Hensall 1.98 11.43 419.891.68 11.13 408.87
Bruce 2.00 11.45 420.811.65 11.10 407.95
Putnam 1.96 11.41 419.341.80 11.25 413.46
Burford 2.01 11.46 421.171.68 11.13 409.05
Port Perry 1.97 11.42 419.711.64 11.09 407.58
Norfolk 1.95 11.40 418.971.65 11.10 407.95
Palmerston N/A 1.65 11.10 407.95
Varna 1.86 11.31 415.661.70 11.15 409.78
Trenton 1.80 11.25 413.461.70 11.15 409.78
Winchester 1.65 11.10 407.951.62 11.07 406.84
North Gower 1.80 11.25 413.461.90 11.35 417.13
Huron FOB 2.10 11.55 424.481.80 11.25 413.46
Kent FOB 2.00 11.45 420.811.60 11.05 406.11
Lambton FOB 2.10 11.55 424.481.75 11.20 411.62
Middlesex FOB2.14 2.14 N/A N/A 11.59 425.951.81 11.26 413.83
PROCESSORS
Hamilton 2.48 2.29 2.16 2.22 11.93 438.442.16 11.61 426.69
N/A N/A N/A
TRANSFER
Prescott 1.81 11.26 413.832.06 11.51 423.01
Sarnia N/A N/A
Toledo El. -0.25 9.20 338.14-0.60 8.85 325.28
Exchange rate was 1.2496 down 0.0124
Chicago wheat closed slightly higher.
DEC17 HI 4.37 3/4 JUL18 HI 4.84
LOW 4.28 1/2 LOW 4.77 1/2
CLOSE 4.34 1/2 Up 4 3/4 CLOSE 4.83 1/2 Up 5
Minni wheat closed slightly lower to lower.
DEC17 HI 6.53 1/4 SEP18 HI 6.28
LOW 6.34 LOW 6.23 1/4
CLOSE 6.40 1/2 Down 15 1/4 CLOSE 6.26 Down 2 1/4
GFO Cash Wheat Prices - DEL Terminal
Harvest 17 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.40 0.58 0.52 -0.08
CAD $/bu 4.74 4.93 4.87 6.33
CAD $/tonne 174.25 181.14 178.84 232.56
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 0.35 N/A N/A N/A 0.60 N/A
London 0.53 0.65 0.40 N/A 0.83 0.64 0.58 N/A
Hensall 0.40 N/A 0.35 N/A 0.85 N/A 0.60 N/A
Trenton N/A N/A 0.80 N/A N/A N/A 0.80 N/A
Bruce 0.50 0.45 0.35 0.05 0.85 0.65 0.60 0.35
Essex N/A N/A 0.43 N/A N/A N/A 0.66 N/A
Norwich 0.40 N/A 0.35 N/A 0.85 N/A 0.60 N/A
Port Hope N/A 0.75 0.60 N/A N/A 0.65 0.70 N/A
Kent Bridge 0.40 N/A 0.35 N/A 0.85 N/A 0.60 N/A
Chatham N/A N/A 0.35 N/A N/A N/A 0.60 N/A
Brigden N/A N/A 0.35 N/A N/A N/A 0.60 N/A
Palmerston N/A 0.41 0.35 0.03 N/A 0.65 0.60 0.35
Varna 0.65 0.45 0.35 N/A 0.85 0.65 0.60 N/A
Mitchell 0.40 0.40 0.35 N/A 0.85 0.65 0.60 N/A
Thornton N/A N/A N/A -0.02 N/A N/A N/A N/A
North Gower N/A 0.62 0.56 0.03 N/A 0.88 0.88 0.24
W O Feed 1.09
TERMINAL
Sarnia N/A N/A N/A 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 1.08N/A N/A N/A N/A N/A
Toledo El. 4.15US 5.18CA 4.64US 5.79CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 18 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.71 0.71 0.71 0.19
CAD $/bu 5.54 5.54 5.54 6.45
CAD $/tonne 203.62 203.62 203.62 236.91
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 450.30
DDG's FOB Srn & Aylm 140.00 - 145.00
---
Ontario Grain Market Commentary for August 30, 2017
By Marty Hibbs, Grain Farmers of Ontario
Wednesday, August 30 2017 Closing Prices
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT Dec 3.45 ↓ 10 cents
Soybeans CBOT Nov 9.32 ↓ 06 cents
Wheat CBOT Dec 4.29 ↓ 01 cents
Wheat Minn. Dec 6.56 ↓ 02 cents
Wheat Kansas Dec 4.29 ↑ 03 cents
Chicago Oats Dec 2.43 ↓ 03 cents
Canadian $ Dec .7920 ↓ .55 points
Corn:
We have seen almost a full dollar drop in the past two months on the Chicago price of corn as our red sell signal from three weeks ago continues to maul prices. We are heading towards the 2016 lows of $3 per bushel going into first notice day in Chicago.
We switched to the December futures as of August 30. The Chicago December contract closed at $3.45 per bushel on August 30. The charts are showing a slowdown of price decline, but with September 1 being the first notice day on the September contract we could still see downward pressure as the long positions are required to liquidate. The weekly chart shows a low of $3 exactly one year ago this week.
This has the earmarks of a possible bottoming out pattern as we have seen a relentless drop in price going into harvest without even a bounce. This washout is will likely lead to a reversal once prices stabilize and start to recover. Meanwhile, there is a chance that by next week we could actually see that 2016 $3 bottom tested on the September contract.
Initial support on the December futures is still seen here around the $3.25 level. The December contract is currently at $3.45 and will follow the September lower. Overhead first resistance on December is still at $3.75, short term indicators are negative, and the primary trend is still down. Indicators are now showing oversold conditions.
Soybeans:
Soybeans continue to have a quiet week with another small trading range. We are currently sitting at the $9.30 support level on the November contract; however, there is a very good chance we will test the $9 level in the coming weeks. With harvest upon us, it will be interesting how prices will react once the harvest begins. Rains in Texas had little effect on prices. There is major support in the $8.50 - $9 level on these soybeans, and chances are that this will eventually be the bottom area once we break into 2018.
Our red sell signal from August 3 is still intact, but we are in the oversold territory on our short term indicators. This would at least suggest a pop in prices in the fall.
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:
When I look at the chart for Chicago, I see nothing but red. This includes our red sell signal received back on July 26. It has been straight down since then. We had a very minor hook reversal on the charts from August 29, but it appears to be a long slow grind up from these levels. With September 1 being first notice day on the futures, we could see more pressure on the September contract. Indicators are oversold but they can stay that way for a long time. The red sell signal that we received on the weekly chart two weeks ago suggests a possible continued drop into the first week of September before we possibly shake out the long positions and find some reason to stabilize
Support sits at $3.60 on the long term chart based on the lead month Chicago contract.
All indicators are still negative and the primary trend is still down.
Harvest 2017 prices as of the close, August 30 are as follows:
SWW @ $173.81/MT ($4.73/bu), HRW @ $180.76/MT ($4.92/bu),
HRS @ $241.94/MT ($6.58/bu), SRW @ $178.44/MT ($4.86/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
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://lists.sentex.ca/pipermail/farmmarketnews/attachments/20170831/c2bfe42e/attachment-0001.html>
-------------- next part --------------
An embedded and charset-unspecified text was scrubbed...
Name: corn.txt
URL: <http://lists.sentex.ca/pipermail/farmmarketnews/attachments/20170831/c2bfe42e/attachment-0001.txt>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: grain.pdf
Type: application/pdf
Size: 265944 bytes
Desc: grain.pdf
URL: <http://lists.sentex.ca/pipermail/farmmarketnews/attachments/20170831/c2bfe42e/attachment-0002.pdf>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: wheatcom.pdf
Type: application/pdf
Size: 396684 bytes
Desc: wheatcom.pdf
URL: <http://lists.sentex.ca/pipermail/farmmarketnews/attachments/20170831/c2bfe42e/attachment-0003.pdf>
More information about the Farmmarketnews
mailing list