[Farmmarketnews] Thursday Ontario Commodity Report and GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Thu Jan 26 15:44:06 EST 2017
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, January 26
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.3104 up 0.0029
Chicago corn closed slightly lower.
MAR17 HI 3.66 3/4 DEC17 HI 3.93 1/2
LOW 3.62 LOW 3.89
CLOSE3.63 3/4 Down 2 1/2 CLOSE 3.90 3/4 Down 3
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 4.29 168.79 0.75 4.66 183.36
CK High 0.70 4.34 170.76 0.90 4.81 189.26
CK Avg 0.66 -0.36 4.30 169.12 0.78 -0.32 4.69 184.67
Essex Cty 0.55 4.19 164.85 0.75 4.66 183.36
Mdsx Low 0.65 4.29 168.79 0.75 4.66 183.36
Mdsx High 0.65 4.29 168.79 0.75 4.66 183.36
Mdsx Avg 0.65 -0.36 4.29 168.79 0.75 -0.34 4.66 183.36
Hensall 0.68 4.31 169.78 0.78 4.68 184.34
Bruce 0.65 4.29 168.79 0.75 4.66 183.36
Putnam 0.65 4.29 168.79 0.80 4.71 185.33
Burford 0.65 4.29 168.79 0.85 4.76 187.29
Port Perry 1.05 4.69 184.54 0.80 4.71 185.33
Norfolk 0.75 4.39 172.73 0.85 4.76 187.29
Palmerston 0.65 4.29 168.79 0.90 4.81 189.26
Varna 0.70 4.34 170.76 0.80 4.71 185.33
Trenton 1.20 4.84 190.44 0.85 4.76 187.29
Winchester 1.15 4.79 188.48 1.13 5.04 198.32
North Gower 1.12 4.76 187.29 1.10 5.01 197.14
Huron FOB 0.95 4.59 180.60 0.90 4.81 189.26
Kent FOB 1.00 4.64 182.57 0.85 4.76 187.29
Lamb FOB 1.00 4.64 182.57 0.80 4.71 185.33
Mdsx FOB 0.85 0.90 0.90N/A 4.49 176.67 0.75 4.66 183.36
FOB SW Que 1.15 4.79 188.48N/A
Track 1.28 4.91 193.40N/A
PROCESSORS
Chat-Eth N/A 1.27 1.27 1.22 1.00 4.91 193.20
Jhnstwn-Eth N/A N/A N/A N/A N/A
Aylmer-Eth N/A N/A N/A 1.20 1.00 4.91 193.20
Sarn-Eth N/A 1.15 1.15 1.15 N/A
Kawartha N/A N/A N/A N/A N/A
London-Ing N/A N/A N/A 1.24 1.00 4.91 193.20
Pt.Colb-Ing N/A N/A N/A N/A N/A
Cardnl-Ing N/A N/A 1.54 1.40 1.05 4.96 195.17
W O Feed 1.49 5.13 201.86
US Rep 1.73 5.37 211.31
Toledo El. -0.08 3.56 140.11 -0.33 3.58 140.97
TRANSFER
Sarnia 1.00 4.64 182.57 0.95 4.86191 1/4
MID SD CRN 0.67 1/2 4.31 1/4
HI SD CRN 0.70 4.33 3/4
*Wet Bid
Bank of Canada Noon exchange rate was 1.3104 up 0.0029
Chicago soybeans closed mixed.
MAR17 HI 10.58 1/2 NOV17 HI 10.28 3/4
LOW 10.45 1/2 LOW 10.19 1/2
CLOSE10.49 1/2 Down 5 3/4 CLOSE 10.23 1/4 Down 2 1/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt
ELEVATORS +MAR1+MAR1+MAY17
CK Low 2.45 12.95 475.652.35 12.58 462.33
CK High 2.65 13.15 483.002.60 12.83 471.51
CK Average 2.49 -0.5812.99 477.242.43 -0.5412.67 465.39
Essex Cty 2.50 13.00 477.482.40 12.63 464.16
Mdsx Low 2.46 12.96 476.012.33 12.56 461.59
Mdsx High 2.50 13.00 477.482.40 12.63 464.16
Mdsx Average 2.48 -0.5912.98 476.752.37 -0.5912.60 462.88
Hensall 2.55 13.05 479.322.45 12.68 466.00
Bruce 2.50 13.00 477.482.40 12.63 464.16
Putnam 2.60 13.10 481.162.50 12.73 467.84
Burford 2.53 13.03 478.592.40 12.63 464.16
Port Perry 2.46 12.96 476.012.33 12.56 461.59
Norfolk 2.50 13.00 477.482.55 12.78 469.68
Palmerston 2.55 13.05 479.322.45 12.68 466.00
Varna 2.60 13.10 481.162.50 12.73 467.84
Trenton 2.50 13.00 477.482.45 12.68 466.00
Winchester 2.61 13.11 481.532.59 12.82 471.15
North Gower 2.62 13.12 481.892.57 12.80 470.41
Huron FOB 2.72 13.22 485.572.60 12.83 471.51
Kent FOB 2.55 13.05 479.322.40 12.63 464.16
Lambton FOB 2.45 12.95 475.652.55 12.78 469.68
Middlesex FOB2.56 2.63 2.70 N/A 13.06 479.692.48 12.71 467.10
PROCESSORS
Hamilton 2.95 3.00 3.05 N/A 13.45 494.022.85 13.08 480.70
N/A N/A N/A
TRANSFER
Prescott 2.73 13.23 485.942.80 13.03 478.86
Sarnia 2.40 12.90 473.812.70 12.93 475.19
Toledo El. -0.52 9.97 366.38-0.51 9.72 357.25
Bank of Canada Noon exchange rate was 1.3104 up 0.0029
Chicago wheat closed slightly higher.
MAR17 HI 4.30 1/2 JUL17 HI 4.57 3/4
LOW 4.21 3/4 LOW 4.49 1/2
CLOSE 4.27 Up 2 1/2 CLOSE 4.55 Up 1 1/2
Minni wheat closed slightly to moderately higher.
MAR17 HI 5.68 1/2 SEP17 HI 5.61
LOW 5.57 1/2 LOW 5.56
CLOSE 5.66 3/4 Up 9 1/4 CLOSE 5.59 3/4 Up 4 1/2
GFO Cash Wheat Prices - DEL Terminal
Harvest 16 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.80 0.80 0.80 0.45
CAD $/bu 5.07 5.07 5.07 6.11
CAD $/tonne 186.25 186.25 186.25 224.63
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 0.65 N/A N/A N/A 0.65 N/A
London 0.72 0.72 0.79 N/A 0.75 0.68 0.68 N/A
Hensall 0.70 N/A 0.70 N/A 0.70 N/A 0.65 N/A
Trenton N/A N/A N/A N/A N/A N/A 0.85 N/A
Bruce 0.70 0.70 0.70 0.40 0.70 0.60 0.65 0.60
Essex N/A N/A N/A N/A N/A N/A 0.50 N/A
Norwich 0.70 N/A 0.70 N/A 0.70 N/A 0.65 N/A
Port Hope N/A N/A 0.75 N/A N/A 0.70 0.70 N/A
Kent Bridge 0.70 N/A 0.70 N/A 0.70 N/A 0.65 N/A
Chatham N/A N/A 0.65 N/A N/A N/A 0.65 N/A
Brigden N/A N/A 0.65 N/A N/A N/A 0.65 N/A
Palmerston N/A 0.70 0.70 0.40 N/A 0.60 0.60 0.60
Varna 0.70 0.70 0.70 N/A 1.00 0.70 0.70 N/A
Mitchell 0.70 0.70 0.70 N/A 0.70 0.65 0.65 N/A
Thornton N/A N/A N/A -0.01 N/A N/A N/A N/A
North Gower N/A 0.68 0.68 0.20 N/A 0.85 0.85 0.55
W O Feed 1.47
TERMINAL
Sarnia 1.09 0.74 0.84 N/A 1.11 0.76 0.86 N/A
Prescott N/A N/A 0.72 N/A N/A N/A 0.94 0.73
PROCESSORS
Toledo FM N/A N/A 1.32N/A N/A N/A 1.40N/A
Toledo El. 4.12US 5.40CA 4.35US 5.69CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 17 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.87 0.81 0.81 0.67
CAD $/bu 5.42 5.36 5.36 6.27
CAD $/tonne 199.30 196.90 196.90 230.40
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 513.02
DDG's FOB Srn & Aylm 145.00 - 150.00
---
Ontario Grain Market Commentary for January 25, 2017 by Marty Hibbs, Grain Farmers of Ontario
Wednesday, January 25, 2017 Closing Prices
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT Mar 3.66 ↑ 01 cents
Soybeans CBOT Mar 10.55 ↓ 20 cents
Wheat CBOT Mar 4.24 ↓ 07 cents
Wheat Minn. Mar 5.72 ↑ 12 cents
Wheat Kansas Mar 4.37 ↓ 19 cents
Chicago Oats Mar 2.60 ↑ 03 cents
Canadian $ Mar .7650 ↑ 0.90 points
CORN: This week corn struggled with clearing the 50% retracement levels from the July 2016 tops to the Labour Day weekend lows. This is a very important resistance level on our charts. The 50% move up coincides with our resistance of $3.70 that has been in our target zone for some time. If we can convincingly close above this $3.70 level, our next upside target is the $3.80 - $3.85 resistance. For the time being, however, our overhead resistance remains at $3.70 while support is seen at $3.40.Short term and weekly indicators are still positive, but the main trend is still down.
SOYBEANS: After reaching our resistance of $10.70 we are now retracing on the soybeans. From these levels we are getting the expected pullback and we anticipate support at the $10.25 - $10.45 range. Eventually, the extension of last week’s move should put our next upside target around $11 or just above there. Initial support is still at the $10.25 level on March, and once we close convincingly above $10.75, our next target is the $11 - $11.20 area.
Short and intermediate term indicators are still positive but the main trend is still down.
WHEAT: Wheat continues to impress, as our charts are showing good support around $4 - $4.20 and the intraday chart shows us a pattern that suggests we will see the next upside shot take us to, or close to, the $4.50 top made back in October. This is an important level on the March CBOT chart as it completes an inverted head and shoulders formation. I would expect a pullback from that level, but if we manage to clear the highs convincingly we could be heading towards a more significant resistance level and a major target of $4.60. Our red buy signal from three weeks ago is still intact.
CBOT March wheat initial support is still seen at the $4.20 level and again at $4, while overhead resistance is at the $4.40 - $4.45 level.Both short and intermediate term indicators are still positive but the primary trend is still down.
2016 CROP CASH PRICES as of close on January 25, 2017
SWW @ $184.72 ($5.03/bu), HRW @ $184.72/MT ($5.03/bu),
HRS @ $219.79/MT ($5.98/bu), SRW @ $184.72/MT ($5.03/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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