[Farmmarketnews] Thursday Ontario Commodity Report and Weekly GFO Ontario Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Thu May 4 15:11:39 EDT 2017
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, May 4
(All Bases in CAD)
Exchange rate was 1.3764 up 0.0069
Chicago corn closed moderately lower.
JUL17 HI 3.76 DEC17 HI 3.93 1/2
LOW 3.66 LOW 3.83 3/4
CLOSE3.66 1/2 Down 8 1/4 CLOSE 3.84 1/2 Down 7 3/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt U.S. $/bu $/mt Cntrct U.S. $/bu $/mt
ELEVATORS +JUL17+SEP17+SEP17
CK Low 0.70 4.37 171.84 0.90 4.75 186.80
CK High 0.80 4.47 175.78 0.95 4.80 188.77
CK Avg 0.72 -0.48 4.38 172.50 0.91 -0.39 4.75 187.13
Essex Cty 0.50 4.17 163.97 0.90 4.75 186.80
Mdsx Low 0.70 4.37 171.84 0.90 4.75 186.80
Mdsx High 0.75 4.42 173.81 0.95 4.80 188.77
Mdsx Avg 0.73 -0.48 4.39 172.83 0.93 -0.38 4.77 187.79
Hensall 0.75 4.42 173.81 0.95 4.80 188.77
Bruce 0.80 4.47 175.78 1.00 4.85 190.74
Putnam 0.75 4.42 173.81 0.90 4.75 186.80
Burford 0.75 4.42 173.81 0.90 4.75 186.80
Port Perry 0.95 4.62 181.68 0.95 4.80 188.77
Norfolk 0.80 4.47 175.78 1.00 4.85 190.74
Palmerston 0.75 4.42 173.81 0.90 4.75 186.80
Varna 0.75 4.42 173.81 0.95 4.80 188.77
Trenton 1.05 4.72 185.62 0.95 4.80 188.77
Winchester 1.15 4.82 189.56 1.20 5.05 198.61
North Gower 1.17 4.84 190.35 1.05 4.90 192.71
Huron FOB 1.12 4.79 188.38 1.00 4.85 190.74
Kent FOB 1.05 4.72 185.62 0.95 4.80 188.77
Lamb FOB 1.05 4.72 185.62 0.90 4.75 186.80
Mdsx FOB 0.80 0.80 0.80N/A 4.47 175.78 0.90 4.75 186.80
FOB SW Que 1.30 4.97 195.46N/A
Track 1.24 4.91 193.10N/A
PROCESSORS
Chat-Eth 1.20 1.25 1.25 1.30 4.87 191.53 1.07 4.92 193.49
Jhnstwn-Eth N/A N/A N/A N/A N/A
Aylmer-Eth N/A N/A N/A 1.40 1.10 4.95 194.68
Sarn-Eth 1.25 1.25 1.25 1.30 4.92 193.49N/A
Kawartha N/A N/A N/A N/A N/A
London-Ing N/A N/A N/A 1.35 1.10 4.95 194.68
Pt.Colb-Ing N/A N/A N/A N/A 1.15 5.00 196.64
Cardnl-Ing N/A N/A N/A 1.60 1.25 5.10 200.58
W O Feed 1.48 5.14 202.39
US Rep 1.79 5.46 214.75
Toledo El. -0.19 3.47 136.70 -0.34 3.50 137.82
TRANSFER
Sarnia 0.65 4.32 169.87 0.90 4.75186 4/5
MID SD CRN 0.92 1/2 4.77
HI SD CRN 0.95 4.79 1/2
*Wet Bid
Exchange rate was 1.3764 up 0.0069
Chicago soybeans closed slightly lower.
JUL17 HI 9.80 NOV17 HI 9.71
LOW 9.69 1/2 LOW 9.61
CLOSE9.74 1/4 Down 1 CLOSE 9.64 3/4 Down 5 1/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt
ELEVATORS +JUL1+JUL1+NOV17
CK Low 2.80 12.54 460.862.60 12.25 450.02
CK High 2.95 12.69 466.372.70 12.35 453.69
CK Average 2.84 -0.6012.58 462.392.65 -0.7112.30 451.92
Essex Cty 2.80 12.54 460.862.60 12.25 450.02
Mdsx Low 2.85 12.59 462.702.64 12.29 451.49
Mdsx High 2.85 12.59 462.702.70 12.35 453.69
Mdsx Average 2.85 -0.5912.59 462.702.67 -0.7012.32 452.59
Hensall 2.88 12.62 463.612.70 12.35 453.69
Bruce 2.85 12.59 462.702.70 12.35 453.69
Putnam 2.70 12.44 457.182.60 12.25 450.02
Burford 2.96 12.70 466.742.75 12.40 455.53
Port Perry 2.85 12.59 462.702.64 12.29 451.49
Norfolk 3.00 12.74 468.212.70 12.35 453.69
Palmerston 2.85 12.59 462.702.65 12.30 451.86
Varna 2.85 12.59 462.702.70 12.35 453.69
Trenton 2.85 12.59 462.702.70 12.35 453.69
Winchester 2.85 12.59 462.702.80 12.45 457.37
North Gower 2.65 12.39 455.352.84 12.49 458.84
Huron FOB 3.05 12.79 470.042.80 12.45 457.37
Kent FOB 3.10 12.84 471.882.65 12.30 451.86
Lambton FOB 3.00 12.74 468.212.80 12.45 457.37
Middlesex FOB3.10 3.03 N/A N/A 12.84 471.882.85 12.50 459.20
PROCESSORS
Hamilton 3.49 3.34 3.34 N/A 13.23 486.213.22 12.87 472.80
N/A N/A N/A
TRANSFER
Prescott 3.05 12.79 470.043.16 12.81 470.60
Sarnia 2.80 12.54 460.863.01 12.66 465.08
Toledo El. -0.36 9.38 344.83-0.58 9.07 333.24
Exchange rate was 1.3764 up 0.0069
Chicago wheat closed lower.
JUL17 HI 4.55 1/4 JUL17 HI 4.55 1/4
LOW 4.36 LOW 4.36
CLOSE 4.37 3/4 Down 16 1/4 CLOSE 4.37 3/4 Down 16 1/4
Minni wheat closed lower.
JUL17 HI 5.61 1/4 SEP17 HI 5.65 3/4
LOW 5.45 3/4 LOW 5.50 3/4
CLOSE 5.47 1/2 Down 13 3/4 CLOSE 5.53 1/2 Down 12 1/4
GFO Cash Wheat Prices - DEL Terminal
Harvest 16 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.68 0.68 0.68 0.34
CAD $/bu 5.06 5.06 5.06 5.82
CAD $/tonne 185.98 185.98 185.98 213.67
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 0.80 N/A N/A N/A 0.90 N/A
London 0.92 0.92 0.71 N/A 0.99 0.92 0.85 N/A
Hensall 0.90 N/A 0.80 N/A 1.05 N/A 0.90 N/A
Trenton N/A N/A N/A N/A N/A N/A 1.05 N/A
Bruce 0.90 0.50 0.80 0.30 1.05 0.75 0.90 0.60
Essex N/A N/A 0.54 N/A N/A N/A 0.67 N/A
Norwich 0.90 N/A 0.80 N/A 1.05 N/A 0.90 N/A
Port Hope N/A N/A 0.85 N/A N/A 0.90 1.05 N/A
Kent Bridge 0.90 N/A 0.80 N/A 1.05 N/A 0.90 N/A
Chatham N/A N/A 0.70 N/A N/A N/A 0.90 N/A
Brigden N/A N/A 0.70 N/A N/A N/A 0.90 N/A
Palmerston N/A 0.50 0.65 0.30 N/A 0.75 0.80 0.60
Varna 0.75 0.70 0.80 N/A 1.25 0.90 0.95 N/A
Mitchell 0.90 0.80 0.80 N/A 1.05 0.90 0.90 N/A
Thornton N/A N/A N/A 0.50 N/A N/A N/A N/A
North Gower N/A 0.62 0.62 0.16 N/A 1.32 1.32 0.55
W O Feed 1.47
TERMINAL
Sarnia 1.12 N/A 1.10 N/A 1.17 N/A 1.31 N/A
Prescott N/A N/A N/A N/A N/A N/A 1.21 N/A
PROCESSORS
Toledo FM N/A N/A 1.65N/A N/A N/A 1.65N/A
Toledo El. 4.23US 5.82CA 4.23US 5.82CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 17 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.23 1.23 1.23 0.64
CAD $/bu 5.61 5.61 5.61 6.17
CAD $/tonne 206.21 206.21 206.21 226.82
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 464.74
DDG's FOB Srn & Aylm 175.00
-----
Ontario Grain Market Commentary for May 3, 2017
By Marty Hibbs, Grain Farmers of Ontario
Wednesday, May 3, 2017 Closing Prices
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT July 3.75 ↑ 08 cents
Soybeans CBOT July 9.75 ↑ 19 cents
Wheat CBOT July 4.54 ↑ 27 cents
Wheat Minn. July 5.61 ↑ 11 cents
Wheat Kansas July 4.63 ↑ 36 cents
Chicago Oats July 2.38 ↑ 18 cents
Canadian $ June .7293 ↓ 0.55 points
CORN: Looks like the rain across the Midwest is becoming more of an issue as the bounce in the futures sent many hedge funds to the sidelines as the short covering rally we spoke of last week is now a reality, catapulting corn futures 10 to 15 cents higher since our last report. Going forward the weather will be front and centre as the race to complete planting is becoming the main focus for the Midwest Corn Belt. Support on the July contract is seen at $3.60 while overhead resistance is still at $3.80 - $4.00.
Short term indicators are now neutral but the main trend is still down.
SOYBEANS: The recent weather in major growing areas proved to be more of a hindrance for the new soybean crop as any real delays in the corn planting may be pushed to plant soybeans and thereby add to the bulging supply chain. The July contract has support at the $9.40 level for the time being. Failure to hold this support line on a close would suggest a re-test of the $9 level once again and possibly $8.50, which is the 2016 low. Immediate overhead resistance is seen at the $10 mark on both the July and November contracts. The $11 number is where you need to see the futures contract before you even start to see a chance for any significant reversal in the five-year-old bearish trend.
Short term indicators are all negative and the main trend is still down.
WHEAT: Confirming our positive reversal signal from April 25, we did indeed receive the expected pop in prices this week. Going forward, the next few days could see more work in the $4.30 - $4.40 levels on the July contract before attempting higher prices. The expanding wave count on the July contract suggests higher prices into June of this year. Remembering that this is technical analysis, there are no guarantees with this prediction. Meanwhile, this move has given us another “red signal” to add to our collection. This is now three short-term bullish signals for the July contract. We will be looking for other signals in the coming weeks for more clues of a possible confirmation of a bottom. Support on the July contract is seen at $4.15 and again closer to the $4 mark. Our overhead resistance is now $4.60 - $4.80 also on the July contract while our major overhead trend line runs across the daily chart around $5.20.
Meanwhile, short term indicators are now positive but the primary trend is still down.
Harvest 2017 prices as of the close, May 3 are as follows:
SWW @ $213.45/MT ($5.81/bu), HRW @ $213.45/MT ($5.81/bu),
HRS @ $231.58/MT ($6.30/bu), SRW @ $213.45/MT ($5.81/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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