[Farmmarketnews] Thursday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Thu Nov 9 15:27:34 EST 2017
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, November 9
(All Bases in CAD)
Exchange rate was 1.267 down 0.0057
Chicago corn closed moderately lower.
DEC17 HI 3.49 3/4 DEC18 HI 3.95
LOW 3.40 3/4 LOW 3.86 1/2
CLOSE3.41 1/2 Down 6 3/4 CLOSE 3.87 1/2 Down 6 1/4
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 0.70 4.12 162.00 0.70 4.58 180.11
CK High 0.75 4.17 163.97 0.75 4.63 182.08
CK Avg 0.73 -0.15 4.14 162.98 0.73 -0.24 4.61 181.42
Essex Cty 0.70 4.12 162.00 0.75 4.63 182.08
Mdsx Low 0.75 4.17 163.97 0.75 4.63 182.08
Mdsx High 0.75 4.17 163.97 0.75 4.63 182.08
Mdsx Avg 0.75 -0.13 4.17 163.97 0.75 -0.23 4.63 182.08
Hensall 0.75 4.17 163.97 0.75 4.63 182.08
Bruce 0.75 4.17 163.97 0.75 4.63 182.08
Putnam 0.70 4.12 162.00 0.75 4.63 182.08
Burford 0.85 4.27 167.91 0.75 4.63 182.08
Port Perry 0.75 4.17 163.97 0.75 4.63 182.08
Norfolk 0.75 4.17 163.97 0.70 4.58 180.11
Palmerston 0.70 4.12 162.00 0.75 4.63 182.08
Varna 0.75 4.17 163.97 0.75 4.63 182.08
Trenton 0.75 4.17 163.97 0.85 4.73 186.02
Winchester 1.25 4.67 183.65 0.90 4.78 187.98
North Gower 1.15 4.57 179.72 0.85 4.73 186.02
Huron FOB 0.80 4.22 165.94 0.80 4.68 184.05
Kent FOB 0.80 4.22 165.94 0.70 4.58 180.11
Lamb FOB 0.70 4.12 162.00 0.65 4.53 178.14
Mdsx FOB 0.75 0.75 0.75N/A 4.17 163.97 0.75 4.63 182.08
FOB SW Que 1.25 4.67 183.65N/A
Track 1.08 4.49 176.76N/A
PROCESSORS
Chat-Eth N/A 0.95 0.90 0.95 0.85 4.73 186.02
Jhnstwn-Eth N/A N/A N/A N/A N/A
Aylmer-Eth N/A 0.95 0.95 0.95 0.85 4.73 186.02
Sarn-Eth 0.90 0.95 0.90N/A 4.32 169.87N/A
Kawartha N/A N/A N/A N/A N/A
London-Ing 1.05 1.05 1.05N/A 4.47 175.78 0.90 4.78 187.98
Pt.Colb-Ing 0.95N/A N/A N/A 4.37 171.84N/A
Cardnl-Ing N/A 1.30 1.35 1.40 1.05 4.93 193.89
W O Feed 1.18 4.59 180.82
US Rep 1.23 4.65 182.87
Toledo El. -0.18 3.24 127.46 -0.38 3.49 137.59
TRANSFER
Sarnia N/A N/A
MID SD CRN 0.72 1/2 4.141
HI SD CRN 0.75 4.16 1/2
*Wet Bid
Exchange rate was 1.267 down 0.0057
Chicago soybeans closed slightly to moderately lower.
JAN18 HI 10.08 1/4 NOV18 HI 10.15
LOW 9.83 1/2 LOW 9.97
CLOSE9.85 Down 13 1/2 CLOSE 9.99 Down 9 1/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt
ELEVATORS +JAN1+JAN1+MAR18
CK Low 1.85 11.70 429.901.95 11.94 438.72
CK High 1.95 11.80 433.582.05 12.04 442.39
CK Average 1.90 -0.5711.75 431.801.99 -0.5411.98 440.07
Essex Cty 1.90 11.75 431.741.90 11.89 436.88
Mdsx Low 1.86 11.71 430.271.97 11.96 439.45
Mdsx High 1.95 11.80 433.582.05 12.04 442.39
Mdsx Average 1.91 -0.5711.76 431.922.01 -0.5212.00 440.92
Hensall 1.95 11.80 433.582.05 12.04 442.39
Bruce 1.90 11.75 431.742.00 11.99 440.56
Putnam 1.95 11.80 433.582.00 11.99 440.56
Burford 1.93 11.78 432.842.04 12.03 442.03
Port Perry 1.83 11.68 429.171.94 11.93 438.35
Norfolk 1.95 11.80 433.582.05 12.04 442.39
Palmerston 2.00 11.85 435.411.95 11.94 438.72
Varna 1.95 11.80 433.582.05 12.04 442.39
Trenton 1.90 11.75 431.742.00 11.99 440.56
Winchester 2.00 11.85 435.412.00 11.99 440.56
North Gower 1.93 11.78 432.841.90 11.89 436.88
Huron FOB 2.05 11.90 437.252.15 12.14 446.07
Kent FOB 1.95 11.80 433.582.00 11.99 440.56
Lambton FOB 1.90 11.75 431.742.05 12.04 442.39
Middlesex FOB2.02 2.08 2.13 2.16 11.87 436.152.09 12.08 443.86
TRANSFER
Hamilton 2.20 N/A N/A N/A 12.05 442.76 N/A
Prescott 2.14 11.99 440.562.10 12.09 444.23
Sarnia N/A N/A
Toledo El. -0.57 9.28 340.98-0.38 9.61 353.10
Exchange rate was 1.267 down 0.0057
Chicago wheat closed narrowly mixed.
DEC17 HI 4.32 JUL18 HI 4.72 3/4
LOW 4.23 3/4 LOW 4.65 1/4
CLOSE 4.29 Up 2 1/4 CLOSE 4.69 Down 1/2
Minni wheat closed slightly higher.
DEC17 HI 6.58 SEP18 HI 6.52
LOW 6.41 1/2 LOW 6.41
CLOSE 6.48 Up 4 1/2 CLOSE 6.46 3/4 Up 2 1/2
GFO Cash Wheat Prices - DEL Terminal
Harvest 17 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.77 1.02 0.89 0.59
CAD $/bu 5.06 5.31 5.18 7.07
CAD $/tonne 185.76 195.07 190.41 259.78
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 0.88 0.95 0.88 N/A 0.93 0.86 0.74 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 0.85 N/A
Bruce 0.90 0.90 0.90 0.25 0.95 0.75 0.75 0.35
Essex N/A N/A N/A N/A N/A N/A 0.74 N/A
Norwich 0.90 N/A 0.90 N/A 0.95 N/A 0.75 N/A
Port Hope N/A 0.90 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 -0.10 N/A N/A N/A N/A
North Gower N/A 0.75 0.75 0.50 N/A 0.90 0.90 0.25
W O Feed 1.46
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 1.34N/A N/A N/A 1.25N/A
Toledo El. 4.24US 5.37CA 4.54US 5.75CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 18 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.87 0.87 0.81 0.33
CAD $/bu 5.56 5.56 5.50 6.80
CAD $/tonne 204.40 204.40 202.08 249.92
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 452.84
DDG's FOB Srn & Aylm 140.00 - 145.00
---
Ontario Grain Market Commentary for November 9, 2017
By Marty Hibbs, Grain Farmers of Ontario
Wednesday, November 9, 2017 Closing Prices
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT Dec 3.41 ↓ 07 cents
Soybeans CBOT Jan 9.85 ↓ 06 cents
Wheat CBOT Dec 4.29 ↑ 10 cents
Wheat Minn. Dec 6.48 ↑ 35 cents
Wheat Kansas Dec 4.16 ↑ 13 cents
Chicago Oats Dec 2.73 ↑ 02 cents
Canadian $ Dec .7892 ↑ 1.20 points
Corn:
The USDA report was released at noon today, Thursday November 9, and the summary is as follows. Corn yield held a big surprise in that the production was increased by 3.6 bushels per acre, which was more than a bushel per acre above the highest trade estimate. Production was considered large as well, with the production up 300 million bushels to 14.576 billion bushels. The report sent the December contract back to test the all-important $3.40 level one more time. Initial support is still seen at the $3.40 level 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:
The monthly report showed little change for the beans, but there was a small surprise: the trade was expecting a slight decline in yields, but it was unchanged. The report seemed to be the excuse why we failed once again to break through and close above the $10.25 mark on the January contract for the second time this month.
Today’s action created a long black reversal candle that suggests we have more downside work to complete before we attempt another try at the $10 overhead trend-line .
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.
Support is seen at $9.40, and our overhead resistance is at the $10 - $10.25 area on the January contract.
Wheat:
Wheat seemed to fare the best from today’s USDA report, as the only change was a 25 million bushel increase in the 2017/2018 exports, while carryout was the same 25 million bushels. The December traded in a 10 cent range for the entire session and it seems that the $4.15 support line on the December futures is still intact. As long as this support holds on the December contract we should see some upside in the coming weeks.
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 9, are as follows:
SWW @ $185.79/MT ($5.06/bu), HRW @ $195.11/MT ($5.31/bu),
HRS @ $259.37/MT ($7.06/bu), SRW @ $190.45/MT ($5.18/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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