[Farmmarketnews] Thursday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Thu Nov 2 15:20:14 EDT 2017
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, November 2
(All Bases in CAD)
Exchange rate was 1.2808 down 0.0067
Chicago corn closed slightly higher.
DEC17 HI 3.52 DEC18 HI 3.96 1/4
LOW 3.47 1/2 LOW 3.92 1/2
CLOSE3.50 1/2 Up 2 1/4 CLOSE 3.95 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 +MAR18+MAR18+MAR18
CK Low 0.65 4.16 163.58 0.65 4.60 181.09
CK High 0.75 4.26 167.51 0.75 4.70 185.03
CK Avg 0.72 -0.21 4.22 166.20 0.73 -0.29 4.68 184.05
Essex Cty 0.65 4.16 163.58 0.75 4.70 185.03
Mdsx Low 0.70 4.21 165.54 0.75 4.70 185.03
Mdsx High 0.75 4.26 167.51 0.75 4.70 185.03
Mdsx Avg 0.73 -0.20 4.23 166.53 0.75 -0.27 4.70 185.03
Hensall 0.73 4.23 166.53 0.75 4.70 185.03
Bruce 0.70 4.21 165.54 0.75 4.70 185.03
Putnam 0.70 4.21 165.54 0.75 4.70 185.03
Burford 0.85 4.36 171.45 0.75 4.70 185.03
Port Perry 0.75 4.26 167.51 0.75 4.70 185.03
Norfolk 0.85 4.36 171.45 0.70 4.65 183.06
Palmerston 0.70 4.21 165.54 0.75 4.70 185.03
Varna 0.80 4.31 169.48 0.75 4.70 185.03
Trenton 0.75 4.26 167.51 0.85 4.80 188.97
Winchester 1.20 4.71 185.23 0.85 4.80 188.97
North Gower 1.10 4.61 181.29 0.80 4.75 187.00
Huron FOB 0.75 4.26 167.51 0.75 4.70 185.03
Kent FOB 0.80 4.31 169.48 0.75 4.70 185.03
Lamb FOB 0.70 4.21 165.54 0.65 4.60 181.09
Mdsx FOB 0.70 0.75 0.75 0.75 4.21 165.54 0.75 4.70 185.03
FOB SW Que 1.30 4.81 189.16N/A
Track 1.08 4.58 180.31N/A
PROCESSORS
Chat-Eth N/A 0.95 0.90 0.95 0.85 4.80 188.97
Jhnstwn-Eth N/A N/A N/A N/A N/A
Aylmer-Eth N/A 1.00 0.95 0.95 0.85 4.80 188.97
Sarn-Eth 0.90 0.95 0.90N/A 4.41 173.42N/A
Kawartha N/A N/A N/A N/A N/A
London-Ing 1.10 1.05 1.00 1.00 4.61 181.29 0.90 4.85 190.94
Pt.Colb-Ing 0.95N/A N/A N/A 4.46 175.39N/A
Cardnl-Ing N/A 1.30 1.15 1.20 1.05 5.00 196.84
W O Feed 1.23 4.74 186.41
US Rep 1.33 4.84 190.35
Toledo El. -0.23 3.27 128.91 -0.38 3.57 140.41
TRANSFER
Sarnia N/A N/A
MID SD CRN 0.70 4.20 1/2
HI SD CRN 0.75 4.25 1/2
*Wet Bid
Exchange rate was 1.2808 down 0.0067
Chicago soybeans closed slightly higher.
JAN18 HI 10.00 1/2 NOV18 HI 10.08 1/2
LOW 9.90 LOW 9.98 1/4
CLOSE9.99 1/4 Up 8 CLOSE 10.08 Up 7 3/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt
ELEVATORS +JAN1+JAN1+MAR18
CK Low 1.90 11.89 436.972.05 12.13 445.70
CK High 2.00 11.99 440.652.10 12.18 447.54
CK Average 1.98 -0.6511.97 439.792.09 -0.5612.17 447.05
Essex Cty 1.95 11.94 438.812.05 12.13 445.70
Mdsx Low 1.96 11.95 439.182.07 12.15 446.44
Mdsx High 2.05 12.04 442.492.15 12.23 449.38
Mdsx Average 2.01 -0.6312.00 440.832.11 -0.5412.19 447.91
Hensall 2.05 12.04 442.492.13 12.21 448.46
Bruce 2.00 11.99 440.652.10 12.18 447.54
Putnam 1.95 11.94 438.812.00 12.08 443.86
Burford 2.03 12.02 441.752.14 12.22 449.01
Port Perry 1.93 11.92 438.082.04 12.12 445.33
Norfolk 2.05 12.04 442.492.15 12.23 449.38
Palmerston 2.05 12.04 442.492.10 12.18 447.54
Varna 2.05 12.04 442.492.10 12.18 447.54
Trenton 2.00 11.99 440.652.10 12.18 447.54
Winchester 2.00 11.99 440.651.94 12.02 441.66
North Gower 1.92 11.91 437.711.85 11.93 438.35
Huron FOB 2.15 12.14 446.162.20 12.28 451.21
Kent FOB 2.05 12.04 442.492.10 12.18 447.54
Lambton FOB 2.05 12.04 442.492.20 12.28 451.21
Middlesex FOB2.12 2.25 2.30 2.23 12.11 445.062.19 12.27 450.85
TRANSFER
Prescott 2.26 12.25 450.202.20 12.28 451.21
Sarnia N/A N/A
Toledo El. -0.58 9.42 345.98-0.38 9.70 356.28
Exchange rate was 1.2808 down 0.0067
Chicago wheat closed moderately higher.
DEC17 HI 4.26 3/4 JUL18 HI 4.73 1/4
LOW 4.17 1/2 LOW 4.63 1/4
CLOSE 4.26 Up 8 CLOSE 4.72 Up 8 3/4
Minni wheat closed slightly to moderately higher.
DEC17 HI 6.24 SEP18 HI 6.40 1/2
LOW 6.13 1/2 LOW 6.35
CLOSE 6.22 3/4 Up 8 3/4 CLOSE 6.40 Up 3 3/4
GFO Cash Wheat Prices - DEL Terminal
Harvest 17 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.81 1.07 0.94 0.60
CAD $/bu 5.07 5.33 5.20 6.82
CAD $/tonne 186.37 195.78 191.07 250.72
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 0.90 N/A N/A N/A 0.75 N/A
London 0.86 0.99 0.86 N/A 0.99 0.92 0.73 N/A
Hensall 0.90 N/A 0.90 N/A 0.95 N/A 0.75 N/A
Trenton N/A N/A N/A N/A N/A N/A 0.90 N/A
Bruce N/A 0.90 0.90 0.10 0.95 0.75 0.75 0.35
Essex N/A N/A N/A N/A N/A N/A 0.80 N/A
Norwich 0.90 N/A 0.90 N/A 0.95 N/A 0.75 N/A
Port Hope N/A 0.85 0.85 N/A N/A 0.75 0.75 N/A
Kent Bridge 0.90 N/A 0.90 N/A 0.95 N/A 0.75 N/A
Chatham N/A N/A 0.90 N/A N/A N/A 0.75 N/A
Brigden N/A N/A 0.90 N/A N/A N/A 0.75 N/A
Palmerston N/A 0.60 0.85 0.25 N/A 0.65 0.75 0.35
Varna 1.20 0.90 0.90 N/A 0.95 0.75 0.75 N/A
Mitchell 0.90 0.90 0.90 N/A 0.95 0.75 0.75 N/A
Thornton N/A N/A N/A 0.18 N/A N/A N/A N/A
North Gower N/A 0.75 0.75 0.50 N/A 0.91 0.91 0.25
W O Feed 1.44
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 1.39N/A N/A N/A 1.31N/A
Toledo El. 4.21US 5.39CA 4.57US 5.84CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 18 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.93 0.93 0.87 0.38
CAD $/bu 5.65 5.65 5.59 6.78
CAD $/tonne 207.63 207.63 205.28 248.97
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 462.32
DDG's FOB Srn & Aylm 140.00 - 145.00
---
Ontario Grain Market Commentary for November 1, 2017
By Marty Hibbs, Grain Farmers of Ontario
Wednesday, November 1, 2017 Closing Prices
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT Dec 3.48 ↓ 03 cents
Soybeans CBOT Jan 9.91 ↑ 06 cents
Wheat CBOT Dec 4.18 ↓ 10 cents
Wheat Minn. Dec 6.14 ↓ 08 cents
Wheat Kansas Dec 4.16 ↓ 16 cents
Chicago Oats Dec 2.71 ↑ 07 cents
Canadian $ Dec .7770 ↓ .40 points
Corn:
The good news this week is that we are about to test the $3.40 level on the December chart for the third time in as many weeks. If this holds, we could see a rally that could be slow but solid over the next few months. The bad news though is more convincing at this point because the major support line on the weekly charts is down at near $3 based on the front month futures. To add to the negative side of this equation, we are still staring at our red sell signal from the last week of August on the weekly chart and if our triple bottom attempt at the $3.40 should fail, there is a good chance we could be looking at the $3.30 area before the December contract expires. Hopefully, this will not be the case and we can see some upside once the harvest pressure is abated.
Initial support is still seen at the $3.40 and again near $3.30 on the December contract, while overhead resistance is seen at $3.60.
Short term indicators are still negative, and the primary trend is still down.
Soybeans:
We have been range-bound on soybeans for the past week but the charts are encouraging. The four year old weekly trend line, cuts across the $10 level on the lead month contract. This is where we are currently on the January futures contract. Once the harvest is complete, we could actually challenge that line in the sand and if we manage a convincing close above the $10 level, we may indeed be ready for a January rally of some significance.
Our red buy signal from last week on our weekly charts is still intact.
Indicators are mixed as we see short term indicators with a downward bias while the medium term indicators are showing strength and are signalling a run at our four year old trend line.
Personally, I feel a close above the $10.25 level on the January contract would be the first confirmation that this four-year-old trend-line is in trouble.
Support is seen at $9.40 and our overhead resistance is at the $10 - $10.25 area on the January contract.
Both short and medium term indicators are positive, but the primary trend is still down.
Wheat:
Last week’s concerns have come to fruition as we have ventured into new low territory on the December Chicago wheat futures. This was not a surprise given the weekly chart and we are now looking at a more supportive target as we approach the $4 trend line on the weekly chart. The $4 bottom on the weekly chart from September 1 should hold and when we see an indicator that the technicals are reversing, we will look for higher prices into the new year.
Solid support is seen at $4 on the December chart, while overhead resistance is viewed at $4.60.
Short term indicators are still negative and the primary trend is still down.
Cash Grain prices as of the close, November 1, are as follows:
SWW @ $183.62/MT ($5.00/bu), HRW @ $193.07/MT ($5.25/bu),
HRS @ $247.66/MT ($6.74/bu), SRW @ $188.34/MT ($5.13/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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