[Farmmarketnews] Wednesday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Sep 13 15:32:10 EDT 2017
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, September 13
(All Bases in CAD)
Exchange rate was 1.22 up 0.0026
Chicago corn closed steady.
DEC17 HI 3.56 3/4 DEC17 HI 3.56 3/4
LOW 3.50 1/4 LOW 3.50 1/4
CLOSE3.51 1/2 Unchanged CLOSE 3.51 1/2 Unchanged
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 4.22 165.94 0.60 4.12 162.00
CK High 0.75 4.27 167.91 0.75 4.27 167.91
CK Avg 0.71 -0.05 4.22 166.27 0.63 -0.12 4.15 163.31
Essex Cty 0.75 4.27 167.91 0.75 4.27 167.91
Mdsx Low 0.70 4.22 165.94 0.60 4.12 162.00
Mdsx High 0.70 4.22 165.94 0.60 4.12 162.00
Mdsx Avg 0.70 -0.06 4.22 165.94 0.60 -0.15 4.12 162.00
Hensall 0.69 4.21 165.54 0.63 4.14 162.98
Bruce 0.70 4.22 165.94 0.65 4.17 163.97
Putnam 0.70 4.22 165.94 0.60 4.12 162.00
Burford 0.80 4.32 169.87 0.70 4.22 165.94
Port Perry 0.90 4.42 173.81 0.75 4.27 167.91
Norfolk 0.80 4.32 169.87 0.70 4.22 165.94
Palmerston 0.75 4.27 167.91 0.75 4.27 167.91
Varna 0.70 4.22 165.94 0.65 4.17 163.97
Trenton 1.05 4.57 179.72 0.75 4.27 167.91
Winchester N/A 1.05 4.57 179.72
North Gower 1.05 4.57 179.72 1.03 4.55 178.93
Huron FOB 1.10 4.62 181.68 0.72 4.24 166.72
Kent FOB 0.95 4.47 175.78 0.65 4.17 163.97
Lamb FOB 0.90 4.42 173.81 0.70 4.22 165.94
Mdsx FOB 0.90N/A N/A N/A 4.42 173.81 0.70 4.22 165.94
FOB SW Que 1.65 5.17 203.34N/A
Track 1.30 4.82 189.56N/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 0.80 0.80 4.32 169.87
Sarn-Eth 1.10N/A 0.90 0.95 4.62 181.68 0.90 4.42 173.81
Kawartha N/A N/A N/A N/A N/A
London-Ing N/A 1.10 0.80 0.80 0.90 4.42 173.81
Pt.Colb-Ing N/A 0.90 0.85N/A 0.90 4.42 173.81
Cardnl-Ing N/A 1.45 1.05 1.10 1.05 4.57 179.72
W O Feed 1.43 4.95 194.75
US Rep 1.24 4.76 187.20
Toledo El. -0.26 3.26 128.29 -0.27 3.25 127.80
TRANSFER
Sarnia N/A N/A
MID SD CRN 0.67 1/2 4.19
HI SD CRN 0.75 4.26 1/2
*Wet Bid
Exchange rate was 1.22 up 0.0026
Chicago soybeans closed slightly higher.
NOV17 HI 9.63 1/4 NOV17 HI 9.63 1/4
LOW 9.46 3/4 LOW 9.46 3/4
CLOSE9.60 1/2 Up 10 CLOSE 9.60 1/2 Up 10
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt
ELEVATORS +NOV1+NOV1+JAN18
CK Low 1.30 10.91 400.691.25 10.86 398.85
CK High 1.52 11.13 408.771.45 11.06 406.20
CK Average 1.41 -0.5711.02 404.791.32 -0.6610.93 401.43
Essex Cty 1.20 10.81 397.021.20 10.81 397.02
Mdsx Low 1.45 11.06 406.201.35 10.96 402.53
Mdsx High 1.58 11.19 410.981.38 10.99 403.63
Mdsx Average 1.52 -0.4911.12 408.591.37 -0.6210.97 403.08
Hensall 1.48 11.08 407.121.35 10.96 402.53
Bruce 1.50 11.11 408.041.35 10.96 402.53
Putnam 1.45 11.06 406.201.35 10.96 402.53
Burford 1.62 11.23 412.451.42 11.03 405.10
Port Perry 1.58 11.19 410.981.38 10.99 403.63
Norfolk 1.35 10.96 402.531.35 10.96 402.53
Palmerston 1.45 11.06 406.201.35 10.96 402.53
Varna 1.50 11.11 408.041.35 10.96 402.53
Trenton N/A 1.40 11.01 404.36
Winchester N/A 1.40 11.01 404.36
North Gower N/A 1.49 11.10 407.67
Huron FOB 1.60 11.21 411.711.45 11.06 406.20
Kent FOB N/A 1.30 10.91 400.69
Lambton FOB 1.55 11.16 409.881.45 11.06 406.20
Middlesex FOB1.75 1.55 1.55 1.63 11.36 417.221.55 11.16 409.88
PROCESSORS
Hamilton 1.98 1.80 1.86 1.88 11.59 425.681.80 11.41 419.06
N/A N/A N/A
TRANSFER
Prescott 1.60 11.21 411.711.83 11.44 420.16
Sarnia N/A N/A
Toledo El. N/A -0.59 9.02 331.38
Exchange rate was 1.22 up 0.0026
Chicago wheat closed narrowly mixed.
DEC17 HI 4.49 3/4 JUL18 HI 4.95
LOW 4.41 1/4 LOW 4.87 3/4
CLOSE 4.43 1/4 Up 1 1/4 CLOSE 4.88 3/4 Down 1/4
Minni wheat closed slightly higher.
DEC17 HI 6.47 SEP18 HI 6.41 1/2
LOW 6.40 LOW 6.37 3/4
CLOSE 6.43 1/2 Up 1 3/4 CLOSE 6.40 3/4 Up 2 3/4
GFO Cash Wheat Prices - DEL Terminal
Harvest 17 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.55 0.61 0.55 0.07
CAD $/bu 4.98 5.04 4.98 6.51
CAD $/tonne 183.00 185.24 183.00 239.15
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 0.40 0.52 0.40 N/A 0.86 0.62 0.55 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 0.65 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 0.42 N/A
Norwich 0.40 N/A 0.35 N/A 0.85 N/A 0.60 N/A
Port Hope N/A 0.65 0.55 N/A N/A 0.65 0.65 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 0.55 N/A
Brigden N/A N/A 0.35 N/A N/A N/A 0.55 N/A
Palmerston N/A 0.45 0.35 0.25 N/A 0.65 0.45 0.35
Varna 0.65 0.45 0.35 N/A 0.80 0.60 0.55 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 -0.14 N/A N/A N/A N/A
North Gower N/A 0.60 0.53 0.06 N/A 0.83 0.77 0.04
W O Feed 1.06
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 1.10N/A N/A N/A N/A N/A
Toledo El. 4.23US 5.16CA 4.69US 5.73CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 18 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.72 0.72 0.66 0.08
CAD $/bu 5.60 5.60 5.54 6.48
CAD $/tonne 205.91 205.91 203.67 238.23
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 453.17
DDG's FOB Srn & Aylm 140.00 - 145.00
-----
Ontario Grain Market Commentary for September 13, 2017
By Marty Hibbs, Grain Farmers of Ontario
Wednesday, September 13, 2017 Closing Prices
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT Dec 3.51 ↓ 10 cents
Soybeans CBOT Nov 9.60 ↓ 11 cents
Wheat CBOT Dec 4.43 ↓ 03 cents
Wheat Minn. Dec 6.43 ↓ 01 cents
Wheat Kansas Dec 4.44 ↓ 05 cents
Chicago Oats Dec 2.38 ↑ 05 cents
Canadian $ Dec .8196 ↑ 0.15 points
Corn:
The USDA suggested that the corn yields were more than expected by the street. All this did was temporarily send corn back to the $3.45 support level that we keep speaking of on the December Chicago futures. The charts look as though they are finding good support in this area, and they could be ready for a move higher over the short term. Our first resistance level is at the $3.70 level on December.
Short term indicators have turned positive, but weekly and monthly indicators are still negative, and the primary trend is still down.
Soybeans:
Like the corn report, the soybean report was somewhat negative, with regard to the higher yields. U.S. dollar weakness has helped support prices in light of the bearishness of the recent news: our important $9.30 support level is still intact, and not far below there is much more support at the $9 level based on the November futures.
Short term indicators are negative, and the primary trend is still down.
Wheat:
Wheat has behaved nicely this week, as it seems to have found comfort in the $4.20 area on the December contract after the September USDA report. This could be temporary, as the continuous chart of the daily action shows support closer to the $4 level. Either way, we have had a significant selloff since the July 5 highs, and we are more than due for at least a 40 cent bounce from these levels over the next few weeks.
Support sits at $4.20 and again at $4 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 13, are as follows:
SWW @ $182.92/MT ($4.98/bu), HRW @ $185.15/MT ($5.04/bu),
HRS @ $238.95/MT ($6.50/bu), SRW @ $182.91/MT ($4.98/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>
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This Farm Market News product is sponsored by:
Grain Farmers of Ontario
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