[Farmmarketnews] Thursday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Thu Oct 5 15:25:30 EDT 2017
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, October 5
(All Bases in CAD)
Exchange rate was 1.2562 up 0.0092
Chicago corn closed slightly higher.
DEC17 HI 3.51 1/4 DEC18 HI 3.97
LOW 3.47 1/2 LOW 3.93 1/4
CLOSE3.49 1/2 Up 1 1/4 CLOSE 3.95 3/4 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 +DEC17+MAR18+MAR18
CK Low 0.60 4.10 161.21 0.50 4.46 175.48
CK High 0.70 4.20 165.15 0.60 4.56 179.42
CK Avg 0.64 -0.20 4.14 162.85 0.58 -0.34 4.54 178.76
Essex Cty 0.65 4.15 163.18 0.50 4.46 175.48
Mdsx Low 0.60 4.10 161.21 0.60 4.56 179.42
Mdsx High 0.65 4.15 163.18 0.60 4.56 179.42
Mdsx Avg 0.63 -0.22 4.12 162.20 0.60 -0.33 4.56 179.42
Hensall 0.63 4.12 162.20 0.65 4.61 181.39
Bruce 0.65 4.15 163.18 0.65 4.61 181.39
Putnam 0.60 4.10 161.21 0.60 4.56 179.42
Burford 0.75 4.25 167.12 0.65 4.61 181.39
Port Perry 0.75 4.25 167.12 0.60 4.56 179.42
Norfolk 0.75 4.25 167.12 0.65 4.61 181.39
Palmerston 0.75 4.25 167.12 0.50 4.46 175.48
Varna 0.65 4.15 163.18 0.70 4.66 183.36
Trenton 0.75 4.25 167.12 0.70 4.66 183.36
Winchester 1.10 4.60 180.90N/A
North Gower 1.07 4.57 179.72 1.04 5.00 196.74
Huron FOB 0.72 4.22 165.94 0.77 4.73 186.11
Kent FOB 0.70 4.20 165.15 0.65 4.61 181.39
Lamb FOB 0.70 4.20 165.15N/A
Mdsx FOB 0.70N/A N/A N/A 4.20 165.15 0.60 4.56 179.42
FOB SW Que 1.44 4.94 194.28N/A
Track 1.20 4.70 184.83N/A
PROCESSORS
Chat-Eth N/A N/A 0.85 0.85 0.75 4.71 185.33
Jhnstwn-Eth N/A N/A N/A N/A N/A
Aylmer-Eth N/A N/A 0.85 0.90 0.75 4.71 185.33
Sarn-Eth 0.90 0.90 0.95 0.90 4.40 173.02N/A
Kawartha N/A N/A N/A N/A N/A
London-Ing N/A 0.90 0.95 0.90 0.80 4.76 187.29
Pt.Colb-Ing N/A 0.95N/A N/A N/A
Cardnl-Ing 1.45 1.05 1.10 1.05 4.95 194.68 0.95 4.91 193.20
W O Feed 1.52 5.02 197.51
US Rep 1.40 4.90 192.71
Toledo El. -0.28 3.22 126.71 -0.38 3.58 140.97
TRANSFER
Sarnia N/A N/A
MID SD CRN 0.65 1 4.14 1/2
HI SD CRN 0.70 4.19 1/2
*Wet Bid
Exchange rate was 1.2562 up 0.0092
Chicago soybeans closed slightly higher.
NOV17 HI 9.71 NOV18 HI 9.92 1/4
LOW 9.57 3/4 LOW 9.81
CLOSE9.68 1/4 Up 10 CLOSE 9.88 1/2 Up 8 1/2
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt
ELEVATORS +NOV1+JAN1+JAN18
CK Low 1.64 11.32 416.031.40 11.29 414.65
CK High 1.75 11.43 420.071.60 11.49 422.00
CK Average 1.67 -0.6511.35 416.951.51 -0.8111.40 418.69
Essex Cty 1.55 11.23 412.721.60 11.49 422.00
Mdsx Low 1.67 11.35 417.131.50 11.39 418.33
Mdsx High 1.70 11.38 418.241.54 11.43 419.80
Mdsx Average 1.69 -0.6311.37 417.681.52 -0.8011.41 419.06
Hensall 1.70 11.38 418.241.48 11.36 417.41
Bruce 1.65 11.33 416.401.50 11.39 418.33
Putnam 1.65 11.33 416.401.45 11.34 416.49
Burford 1.74 11.42 419.711.61 11.50 422.37
Port Perry 1.64 11.32 416.031.51 11.40 418.69
Norfolk 1.80 11.48 421.911.55 11.44 420.16
Palmerston 1.70 11.38 418.241.60 11.49 422.00
Varna 1.70 11.38 418.241.45 11.34 416.49
Trenton 1.70 11.38 418.241.50 11.39 418.33
Winchester 1.90 11.58 425.581.60 11.49 422.00
North Gower 1.74 11.42 419.711.52 11.41 419.06
Huron FOB 1.80 11.48 421.911.50 11.39 418.33
Kent FOB 1.65 11.33 416.401.55 11.44 420.16
Lambton FOB 1.75 11.43 420.071.60 11.49 422.00
Middlesex FOB1.86 1.91 1.94 N/A 11.54 424.111.71 11.60 426.04
TRANSFER
Prescott N/A N/A
Sarnia N/A N/A
Toledo El. -0.58 9.10 334.54-0.38 9.51 349.37
Exchange rate was 1.2562 up 0.0092
Chicago wheat closed slightly lower.
DEC17 HI 4.44 JUL18 HI 4.88 1/2
LOW 4.38 LOW 4.83 1/2
CLOSE 4.40 3/4 Down 1 1/4 CLOSE 4.86 Down 1/4
Minni wheat closed slightly to moderately higher.
DEC17 HI 6.18 1/4 SEP18 HI 6.41 3/4
LOW 6.07 1/4 LOW 6.34 1/2
CLOSE 6.15 1/2 Up 5 1/2 CLOSE 6.39 Up 4
GFO Cash Wheat Prices - DEL Terminal
Harvest 17 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.75 1.00 0.88 0.45
CAD $/bu 5.16 5.41 5.29 6.60
CAD $/tonne 189.59 198.82 194.21 242.56
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 0.60 N/A N/A N/A 0.60 N/A
London 0.54 0.67 0.61 N/A 0.90 0.83 0.65 N/A
Hensall 0.60 N/A 0.60 N/A 0.85 N/A 0.60 N/A
Trenton N/A N/A 0.65 N/A N/A N/A 0.80 N/A
Bruce 0.60 N/A 0.60 0.25 0.85 0.65 0.60 0.35
Essex N/A N/A N/A N/A N/A N/A 0.62 N/A
Norwich 0.60 N/A 0.60 N/A 0.85 N/A 0.60 N/A
Port Hope N/A 0.70 0.70 N/A N/A 0.65 0.70 N/A
Kent Bridge 0.60 N/A 0.60 N/A 0.85 N/A 0.60 N/A
Chatham N/A N/A 0.55 N/A N/A N/A 0.60 N/A
Brigden N/A N/A 0.55 N/A N/A N/A 0.60 N/A
Palmerston N/A 0.45 0.45 0.25 N/A 0.65 0.60 0.35
Varna 0.85 0.55 0.55 N/A 0.80 0.60 0.60 N/A
Mitchell 0.60 0.60 0.60 N/A 0.85 0.65 0.60 N/A
Thornton N/A N/A N/A 0.30 N/A N/A N/A N/A
North Gower N/A 0.75 0.75 0.35 N/A 0.80 0.85 0.10
W O Feed 1.30
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 1.32N/A N/A N/A 1.12N/A
Toledo El. 4.33US 5.44CA 4.71US 5.91CA
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 0.80 0.25
CAD $/bu 5.73 5.73 5.66 6.64
CAD $/tonne 210.41 210.41 208.11 244.10
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 465.07
DDG's FOB Srn & Aylm 140.00
-----
Ontario Grain Market Commentary for October 4, 2017
By Marty Hibbs, Grain Farmers of Ontario
Wednesday, October 4, 2017 Closing Prices
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT Dec 3.48 ↓ 06 cents
Soybeans CBOT Nov 9.58 ↓ 07 cents
Wheat CBOT Dec 4.42 ↓ 17 cents
Wheat Minn. Dec 6.10 ↓ 40 cents
Wheat Kansas Dec 4.36 ↓ 22 cents
Chicago Oats Dec 2.46 ↓ 02 cents
Canadian $ Dec .8015 ↓ 0.15 points
Corn:
Although the $3.45 support level that we identified on the December futures contract has been tested three times in the past three weeks, there is a very good possibility that prices may turn lower as we come into harvest. We are currently trading at $3.47, and there is room to slip lower, according to both the daily and weekly charts. If we close below the $3.45 level on the December contract, we will more than likely challenge the $3.30 initial support. We could possibly even take a shot at the $3 level before the harvest is complete.
Our first resistance level is at the $3.60 on the December contract.
Short term indicators have turned negative, and the primary trend is still down.
Soybeans:
We have more of the same in soybeans as far as price action goes. The beans seem to be somewhat range-bound. It will be interesting to see the next full report as harvest goes on. The soybean contract for new crop November futures is currently trading at the $9.60 level, and the short term indicators are still negative. We could easily retest the all-important $9 level once again before the harvest is complete. If that level were to fail, I still maintain that a visit to the $8.50 level on the lead month is still possible. The primary trend is down, and we could still rally towards the $10 price without changing the chart formation.
The short term indicators are still negative, and the primary trend is still down.
Wheat:
Wheat continues to find solid support this week. We have inched higher by 20 cents per bushel since our $4.20 bottom, but more importantly we have received a red buy signal on the daily charts. This is encouraging, and it suggests that since we hit our first target of $4.60 last week, we could be ready to challenge the next resistance level of $4.80 on the December contract in the coming weeks.
Support still sits at $4.20 on the December chart, while overhead resistance is viewed at $4.70 - $4.80. The slow, steady movement in prices is a good sign, but we need to keep in mind that the primary trend is down, and these rallies should be viewed as selling opportunities for most farmers.
Short term indicators are now positive but the primary trend is still down.
Harvest 2017 prices as of the close, October 4, are as follows:
SWW @ $188.93/MT ($5.14/bu), HRW @ $198.10/MT ($5.39/bu),
HRS @ $238.91/MT ($6.50/bu), SRW @ $193.51/MT ($5.27/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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