[Farmmarketnews] Thursday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Thu Sep 7 15:25:03 EDT 2017
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, September 7
(All Bases in CAD)
Exchange rate was 1.2139 down 0.0079
Chicago corn closed moderately lower.
DEC17 HI 3.60 1/4 DEC17 HI 3.60 1/4
LOW 3.54 3/4 LOW 3.54 3/4
CLOSE3.55 1/4 Down 5 3/4 CLOSE 3.55 1/4 Down 5 3/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt U.S. $/bu $/mt Cntrct U.S. $/bu $/mt
ELEVATORS +DEC17+DEC17+MAR18
CK Low 0.70 4.25 167.41 0.65 4.20 165.45
CK High 0.75 4.30 169.38 0.75 4.30 169.38
CK Avg 0.71 -0.04 4.26 167.74 0.67 -0.08 4.22 166.10
Essex Cty 0.75 4.30 169.38 0.75 4.30 169.38
Mdsx Low 0.70 4.25 167.41 0.65 4.20 165.45
Mdsx High 0.70 4.25 167.41 0.65 4.20 165.45
Mdsx Avg 0.70 -0.05 4.25 167.41 0.65 -0.09 4.20 165.45
Hensall 0.69 4.24 167.02 0.65 4.20 165.45
Bruce 0.70 4.25 167.41 0.65 4.20 165.45
Putnam 0.70 4.25 167.41 0.65 4.20 165.45
Burford 0.80 4.35 171.35 0.75 4.30 169.38
Port Perry 0.90 4.45 175.29 0.80 4.35 171.35
Norfolk 0.80 4.35 171.35 0.75 4.30 169.38
Palmerston 0.75 4.30 169.38 0.75 4.30 169.38
Varna 0.70 4.25 167.41 0.65 4.20 165.45
Trenton 0.95 4.50 177.26 0.75 4.30 169.38
Winchester N/A 1.06 4.61 181.59
North Gower 0.95 4.50 177.26 0.98 4.53 178.44
Huron FOB 1.12 4.67 183.95 0.75 4.30 169.38
Kent FOB 0.95 4.50 177.26 0.70 4.25 167.41
Lamb FOB 0.95 4.50 177.26 0.75 4.30 169.38
Mdsx FOB 0.90N/A N/A N/A 4.45 175.29 0.70 4.25 167.41
FOB SW Que 1.58 5.13 202.06N/A
Track 1.30 4.85 191.03N/A
PROCESSORS
Chat-Eth N/A N/A N/A 0.80 N/A
Jhnstwn-Eth N/A N/A N/A N/A N/A
Aylmer-Eth N/A N/A 0.80 0.90 0.80 4.35 171.35
Sarn-Eth 1.10N/A 0.90 0.95 4.65 183.16 0.90 4.45 175.29
Kawartha N/A N/A N/A N/A N/A
London-Ing N/A 1.25 1.00 0.90 1.00 4.55 179.22
Pt.Colb-Ing N/A N/A 1.05N/A 1.05 4.60 181.19
Cardnl-Ing N/A 1.45 1.05 1.15 1.05 4.60 181.19
W O Feed 1.44 4.99 196.55
US Rep 1.35 4.90 193.00
Toledo El. -0.25 3.30 129.82 -0.27 3.29 129.34
TRANSFER
Sarnia N/A N/A
MID SD CRN 0.70 4.25 1/4
HI SD CRN 0.75 4.30 1/4
*Wet Bid
Exchange rate was 1.2139 down 0.0079
Chicago soybeans closed slightly lower.
NOV17 HI 9.77 1/2 NOV17 HI 9.77 1/2
LOW 9.65 3/4 LOW 9.65 3/4
CLOSE9.68 3/4 Down 2 1/4 CLOSE 9.68 3/4 Down 2 1/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt
ELEVATORS +NOV1+NOV1+JAN18
CK Low 1.40 11.09 407.401.30 10.99 403.72
CK High 1.55 11.24 412.911.50 11.19 411.07
CK Average 1.50 -0.4711.19 411.071.38 -0.5711.06 406.48
Essex Cty 1.30 10.99 403.721.30 10.99 403.72
Mdsx Low 1.55 11.24 412.911.40 11.09 407.40
Mdsx High 1.61 11.30 415.111.41 11.10 407.76
Mdsx Average 1.58 -0.4111.27 414.011.41 -0.5511.09 407.58
Hensall 1.58 11.26 413.831.43 11.11 408.31
Bruce 1.55 11.24 412.911.40 11.09 407.40
Putnam 1.85 11.54 423.931.55 11.24 412.91
Burford 1.65 11.34 416.581.45 11.14 409.23
Port Perry 1.61 11.30 415.111.41 11.10 407.76
Norfolk 1.45 11.14 409.231.45 11.14 409.23
Palmerston 1.45 11.14 409.231.40 11.09 407.40
Varna 1.80 11.49 422.091.55 11.24 412.91
Trenton 1.45 11.14 409.231.45 11.14 409.23
Winchester 1.44 11.13 408.871.32 11.01 404.46
North Gower 1.52 11.21 411.811.55 11.24 412.91
Huron FOB 1.75 11.44 420.261.55 11.24 412.91
Kent FOB N/A 1.40 11.09 407.40
Lambton FOB 1.70 11.39 418.421.50 11.19 411.07
Middlesex FOB1.84 1.58 1.58 1.61 11.53 423.561.58 11.27 414.01
PROCESSORS
Hamilton 2.23 1.86 1.92 1.95 11.92 437.891.86 11.55 424.30
N/A N/A N/A
TRANSFER
Prescott 1.65 11.34 416.581.89 11.58 425.40
Sarnia N/A N/A
Toledo El. N/A -0.58 9.10 334.55
Exchange rate was 1.2139 down 0.0079
Chicago wheat closed moderately lower.
DEC17 HI 4.46 1/4 JUL18 HI 4.93 3/4
LOW 4.35 3/4 LOW 4.84 3/4
CLOSE 4.37 1/4 Down 8 1/2 CLOSE 4.84 3/4 Down 8 1/2
Minni wheat closed slightly to moderately higher.
DEC17 HI 6.53 1/4 SEP18 HI 6.35 1/4
LOW 6.38 LOW 6.26
CLOSE 6.49 3/4 Up 5 1/4 CLOSE 6.33 3/4 Up 2 1/4
GFO Cash Wheat Prices - DEL Terminal
Harvest 17 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.51 0.57 0.51 0.05
CAD $/bu 4.88 4.94 4.88 6.55
CAD $/tonne 179.41 181.64 179.41 240.74
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 0.35 N/A N/A N/A 0.60 N/A
London 0.33 0.51 0.27 N/A 0.67 0.49 0.49 N/A
Hensall 0.40 N/A 0.35 N/A 0.85 N/A 0.60 N/A
Trenton N/A N/A 0.60 N/A N/A N/A 0.70 N/A
Bruce 0.40 0.45 0.35 0.25 0.85 0.65 0.60 0.35
Essex N/A N/A N/A N/A N/A N/A 0.47 N/A
Norwich 0.40 N/A 0.35 N/A 0.85 N/A 0.60 N/A
Port Hope N/A 0.70 0.60 N/A N/A 0.65 0.70 N/A
Kent Bridge 0.40 N/A 0.35 N/A 0.85 N/A 0.60 N/A
Chatham N/A N/A 0.35 N/A N/A N/A 0.60 N/A
Brigden N/A N/A 0.35 N/A N/A N/A 0.60 N/A
Palmerston N/A 0.40 0.35 0.25 N/A 0.65 0.45 0.35
Varna 0.65 0.45 0.35 N/A 0.85 0.65 0.60 N/A
Mitchell 0.40 0.40 0.35 N/A 0.85 0.65 0.60 N/A
Thornton N/A N/A N/A -0.27 N/A N/A N/A N/A
North Gower N/A 0.62 0.56 0.09 N/A 0.76 0.76 0.06
W O Feed 1.01
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 1.06N/A N/A N/A N/A N/A
Toledo El. 4.17US 5.06CA 4.65US 5.64CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 18 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.55 0.55 0.55 0.02
CAD $/bu 5.40 5.40 5.40 6.36
CAD $/tonne 198.35 198.35 198.35 233.58
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 451.07
DDG's FOB Srn & Aylm 140.00 - 145.00
---
Ontario Grain Market Commentary for September 6, 2017
By Marty Hibbs, Grain Farmers of Ontario
Wednesday, September 6, 2017 Closing Prices
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT Dec 3.61 ↑ 16 cents
Soybeans CBOT Nov 9.71 ↑ 40 cents
Wheat CBOT Dec 4.46 ↑ 17 cents
Wheat Minn. Dec 6.44 ↓ 12 cents
Wheat Kansas Dec 4.49 ↑ 20 cents
Chicago Oats Dec 2.34 ↓ 09 cents
Canadian $ Dec .8180 ↑ 2.55 points
Corn:
Well we seem to have bounced off the $3.45 level on the December Chicago futures. The charts suggest we could see a little more upside on the futures. Our first resistance level is at the $3.70 level on December. Although the short term indicators were oversold and the tempo is up for the very short term, we are still in a bear market and any decent rallies should be used to lock in a portion of your profits. The red sell signal from August 25 is still intact and should be viewed as a reminder that we are still in a downtrend. Weakness in the U.S. dollar is starting to have a noticeable effect on export competitiveness.
Initial support on the December futures has been pegged at $3.45 for the time being and the primary trend is still down. Short term indicators have turned positive, but weekly and monthly indicators are still negative.
Soybeans:
Our important $9.30 support level did us proud once again. We had a nice pop in prices this week in the November new crop futures. With increased imports from China and minor weather concerns, the November contract soybeans managed a 40 cent rally since our last commentary and we could still see some excitement. Our red sell signal from August 3 is still intact, but another 20 cents upside and the signal will be negated and become neutral. Initial support is at $9.20 with overhead resistance at $9.75 - $10 on the November contract. The extent of damage to corn and soybean crops caused by Hurricane Irma, if any, is not fully known.
Short term indicators are negative and the primary trend is still down.
Wheat:
Like the other grains, we managed a small rally in wheat. With little fresh news to prompt a large scale rally, we are dependent on weakness in the U.S. dollar to entice export sales.
Support sits at $3.60 on the long term chart based on the lead month Chicago contract, while overhead resistance is viewed at $4.60.
All indicators are still negative and the primary trend is still down.
Harvest 2017 prices as of the close, September 6, are as follows:
SWW @ $184.54/MT ($5.02/bu), HRW @ $186.79/MT ($5.08/bu),
HRS @ $240.00/MT ($6.53/bu), SRW @ $184.54/MT ($5.08/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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