[Farmmarketnews] Thursday Ontario Commodity Report Plus Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Thu Jan 5 15:47:35 EST 2017
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, January 5
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.3216 down 0.0077
Chicago corn closed slightly higher.
MAR17 HI 3.62 3/4 DEC17 HI 3.89 1/2
LOW 3.58 1/2 LOW 3.85 3/4
CLOSE3.61 1/4 Up 1 1/2 CLOSE 3.88 1/2 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 +MAR17+MAY17+MAY17
CK Low 0.65 4.26 167.81 0.85 4.74 186.41
CK High 0.70 4.31 169.78 0.85 4.74 186.41
CK Avg 0.69 -0.36 4.30 169.45 0.85 -0.30 4.74 186.41
Essex Cty 0.55 4.16 163.87 0.85 4.74 186.41
Mdsx Low 0.70 4.31 169.78 0.85 4.74 186.41
Mdsx High 0.70 4.31 169.78 0.90 4.79 188.38
Mdsx Avg 0.70 -0.35 4.31 169.78 0.88 -0.28 4.76 187.39
Hensall 0.70 4.31 169.78 0.90 4.79 188.38
Bruce 0.70 4.31 169.78 0.85 4.74 186.41
Putnam 0.70 4.31 169.78 0.85 4.74 186.41
Burford 0.70 4.31 169.78 0.85 4.74 186.41
Port Perry 1.15 4.76 187.49 0.95 4.84 190.35
Norfolk 0.80 4.41 173.71 0.85 4.74 186.41
Palmerston 0.75 4.36 171.74 0.90 4.79 188.38
Varna 0.70 4.31 169.78 0.90 4.79 188.38
Trenton 1.25 4.86 191.43 0.95 4.84 190.35
Winchester 1.20 4.81 189.46 1.10 4.99 196.25
North Gower 1.13 4.74 186.70 1.10 4.99 196.25
Huron FOB 0.95 4.56 179.62 0.90 4.79 188.38
Kent FOB 1.10 4.71 185.52 0.85 4.74 186.41
Lamb FOB 1.10 4.71 185.52 0.90 4.79 188.38
Mdsx FOB 0.75 0.75N/A N/A 4.36 171.74 0.85 4.74 186.41
FOB SW Que 1.23 4.84 190.64N/A
Track 1.35 4.96 195.17N/A
PROCESSORS
Chat-Eth 1.21 1.27 1.27 1.33 4.82 189.85 1.05 4.94 194.28
Jhnstwn-Eth N/A N/A N/A N/A N/A
Aylmer-Eth N/A N/A N/A 1.35 1.10 4.99 196.25
Sarn-Eth 1.25 1.30 1.30N/A 4.86 191.43N/A
Kawartha N/A N/A N/A N/A N/A
London-Ing N/A N/A N/A 1.29 1.05 4.94 194.28
Pt.Colb-Ing N/A N/A N/A N/A N/A
Cardnl-Ing N/A 1.43N/A N/A 1.10 4.99 196.25
W O Feed 1.53 5.14 202.45
US Rep 1.75 5.36 211.11
Toledo El. -0.13 3.48 137.01 -0.33 3.55 139.94
MID SD CRN 0.67 1/2 4.28 3/4
HI SD CRN 0.70 4.31 1/4
*Wet Bid
Bank of Canada Noon exchange rate was 1.3216 down 0.0077
Chicago soybeans closed slightly lower.
MAR17 HI 10.16 NOV17 HI 9.98 1/4
LOW 10.07 1/2 LOW 9.91 3/4
CLOSE10.12 1/2 Down 2 3/4 CLOSE 9.96 1/4 Down 2 1/2
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt
ELEVATORS +MAR1+MAR1+MAY17
CK Low 2.50 12.63 463.892.43 12.39 455.35
CK High 2.60 12.73 467.562.50 12.46 457.92
CK Average 2.52 -0.5712.64 464.562.46 -0.5612.43 456.57
Essex Cty 2.55 12.68 465.732.45 12.41 456.08
Mdsx Low 2.50 12.63 463.892.41 12.37 454.61
Mdsx High 2.51 12.64 464.262.45 12.41 456.08
Mdsx Average 2.51 -0.5812.63 464.072.43 -0.5812.39 455.35
Hensall 2.53 12.65 464.812.48 12.44 457.00
Bruce 2.50 12.63 463.892.45 12.41 456.08
Putnam 2.65 12.78 469.402.60 12.56 461.59
Burford 2.57 12.70 466.462.47 12.43 456.82
Port Perry 2.51 12.64 464.262.41 12.37 454.61
Norfolk 2.55 12.68 465.732.50 12.46 457.92
Palmerston 2.55 12.68 465.732.50 12.46 457.92
Varna 2.60 12.73 467.562.55 12.51 459.76
Trenton 2.55 12.68 465.732.55 12.51 459.76
Winchester 2.49 12.62 463.522.57 12.53 460.49
North Gower 2.49 12.62 463.522.57 12.53 460.49
Huron FOB 2.70 12.83 471.242.65 12.61 463.43
Kent FOB 2.60 12.73 467.562.45 12.41 456.08
Lambton FOB 2.55 12.68 465.732.65 12.61 463.43
Middlesex FOB2.68 2.75 N/A N/A 12.81 470.502.58 12.54 460.86
PROCESSORS
Hamilton 2.95 3.00 N/A N/A 13.08 480.422.90 12.86 472.62
Windsor N/A N/A N/A N/A N/A
Winchester N/A N/A
TRANSFER
Prescott 2.76 12.89 473.442.83 12.79 470.04
Toledo El. -0.46 9.66 355.02-0.52 9.45 347.12
Bank of Canada Noon exchange rate was 1.3216 down 0.0077
Chicago wheat closed moderately higher.
MAR17 HI 4.27 JUL17 HI 4.49 3/4
LOW 4.16 1/4 LOW 4.40
CLOSE 4.26 1/4 Up 7 3/4 CLOSE 4.49 1/4 Up 7 1/4
Minni wheat closed slightly higher.
MAR17 HI 5.51 3/4 SEP17 HI 5.50 3/4
LOW 5.41 3/4 LOW 5.45 3/4
CLOSE 5.50 1/4 Up 5 3/4 CLOSE 5.50 Up 1 3/4
GFO Cash Wheat Prices - DEL Terminal
Harvest 16 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.65 0.58 0.72 0.52
CAD $/bu 4.91 4.85 4.98 6.02
CAD $/tonne 180.46 178.03 182.89 221.29
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 0.60 0.60 N/A
London 0.71 0.71 0.71 N/A 0.72 0.58 0.58 N/A
Hensall 0.70 N/A 0.70 N/A 0.70 N/A 0.60 N/A
Trenton N/A N/A N/A N/A N/A N/A 0.85 N/A
Bruce 0.70 0.65 0.70 0.40 0.70 0.60 0.60 0.60
Essex N/A N/A N/A N/A N/A N/A 0.42 N/A
Norwich 0.70 N/A 0.70 N/A 0.70 N/A 0.60 N/A
Port Hope N/A N/A 0.75 N/A N/A 0.55 0.60 N/A
Kent Bridge 0.70 N/A 0.70 N/A 0.70 N/A 0.60 N/A
Chatham N/A N/A 0.65 N/A N/A N/A 0.55 N/A
Brigden N/A N/A 0.65 N/A N/A N/A 0.55 N/A
Palmerston N/A 0.65 0.70 N/A N/A 0.60 0.60 0.60
Varna 0.65 0.65 0.65 N/A 0.60 0.55 0.55 N/A
Mitchell 0.70 0.70 0.70 N/A 0.70 0.55 0.60 N/A
Thornton N/A N/A N/A 0.20 N/A N/A N/A N/A
North Gower N/A 0.39 0.52 0.34 N/A 0.87 0.87 0.63
W O Feed 1.55
TERMINAL
Prescott N/A N/A 0.77 N/A N/A N/A 0.98 0.71
PROCESSORS
Toledo FM N/A N/A 1.38 N/A N/A N/A 1.44 N/A
Toledo El. 4.11US 5.44CA 4.29US 5.67CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 17 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.92 0.85 0.85 0.71
CAD $/bu 5.41 5.34 5.34 6.21
CAD $/tonne 198.70 196.27 196.27 228.19
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 494.06
DDG's FOB Srn & Aylm 135.00 - 140.00
---
Ontario Grain Market Commentary for January 4, 2017, by Marty Hibbs, Grain Farmers of Ontario
Wednesday, January 4, 2017 Closing Prices
COMMODITY
PERIOD
PRICE
WEEKLY MOVEMENT
Corn CBOT
Mar
3.60
↑
12
cents
Soybeans CBOT
Mar
10.16
↓
01
cents
Wheat CBOT
Mar
4.18
↑
12
cents
Wheat Minn.
Mar
5.44
↑
13
cents
Wheat Kansas
Mar
4.26
↑
17
cents
Chicago Oats
Mar
2.39
↑
11
cents
Canadian $
Mar
.7515
↑
1.28
points
CORN: Another short week and typical holiday style move as most participants were away for the Christmas season. The corn crept back up to the resistance levels of $3.60 - $3.65 on the March contract. As with Labour Day weekend, most U.S. holidays can create market reversals when you look in the rear view mirror. This holiday produced a red buy signal on our daily chart. This is only an indication that there could be higher prices in the coming weeks as it is only a daily chart and not the weekly or monthly chart. Corn now looks ready to try and close above our resistance levels, and if they can do so, we could see a nice 15 to 20 cent rally from these levels. Meanwhile, our overhead resistance remains at the $3.65 level, based on the close of the March contract. Support is seen at $3.35 with our major support level back at $3. Although indicators are mixed, the main trend is still down.
SOYBEANS: Soybeans rallied over the holidays from the $10 support level, but unlike corn, the charts are not as bullish. Overhead resistance sits at the $10.30 - $10.60 level based on the March contract, while the main trend line resistance is around $11. All indicators are still negative, and the primary trend is still down.
WHEAT: The March CBOT wheat contract had a productive week as the daily charts flirted with our $4.20 resistance levels. We are currently still at that price, but we need a close above the $4.25 level on the March contract before we get too excited. Short term indicators have turned neutral to positive but we have a lot of work to do before we get this market to turn bullish. The $4 support level has proven itself and we should see a move higher into the spring. Meanwhile, HRS wheat has been the strong performer and we have an inverted head and shoulders formation which suggests another 30 to 40 cents higher in the coming months or sooner. Meanwhile, initial support is seen at the $4 level on March and resistance is at $4.25 - $4.30. Short term indicators are neutral to positive but the intermediate and primary trends are still down.
2016 CROP CASH PRICES as of close on January 4, 2017
SWW @ $172.40 ($4.69/bu), HRW @ $169.91/MT ($4.62/bu),
HRS @ $216.93/MT ($5.90/bu), SRW @ $174.89/MT ($4.76/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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