[Farmmarketnews] Thursday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Thu Sep 21 15:35:53 EDT 2017
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, September 21
(All Bases in CAD)
Exchange rate was 1.2331 down 0.0016
Chicago corn closed slightly higher.
DEC17 HI 3.51 1/4 DEC17 HI 3.51 1/4
LOW 3.48 1/2 LOW 3.48 1/2
CLOSE3.50 1/4 Up 1/4 CLOSE 3.50 1/4 Up 1/4
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 4.20 165.45 0.60 4.10 161.51
CK High 0.75 4.25 167.41 0.70 4.20 165.45
CK Avg 0.72 -0.08 4.22 166.10 0.62 -0.17 4.12 162.16
Essex Cty 0.75 4.25 167.41 0.60 4.10 161.51
Mdsx Low 0.70 4.20 165.45 0.60 4.10 161.51
Mdsx High 0.70 4.20 165.45 0.60 4.10 161.51
Mdsx Avg 0.70 -0.09 4.20 165.45 0.60 -0.18 4.10 161.51
Hensall 0.70 4.20 165.45 0.63 4.13 162.49
Bruce 0.70 4.20 165.45 0.65 4.15 163.48
Putnam 0.70 4.20 165.45 0.60 4.10 161.51
Burford 0.80 4.30 169.38 0.70 4.20 165.45
Port Perry 0.90 4.40 173.32 0.75 4.25 167.41
Norfolk 0.80 4.30 169.38 0.70 4.20 165.45
Palmerston 0.75 4.25 167.41 0.60 4.10 161.51
Varna 0.70 4.20 165.45 0.65 4.15 163.48
Trenton 1.10 4.60 181.19 0.75 4.25 167.41
Winchester N/A 1.05 4.55 179.22
North Gower 1.07 4.57 180.01 1.05 4.55 179.22
Huron FOB 1.05 4.55 179.22 0.70 4.20 165.45
Kent FOB 0.95 4.45 175.29 0.65 4.15 163.48
Lamb FOB 0.90 4.40 173.32 0.70 4.20 165.45
Mdsx FOB 0.90N/A N/A N/A 4.40 173.32 0.70 4.20 165.45
FOB SW Que 1.63 5.13 202.06N/A
Track 1.30 4.80 189.07N/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 4.30 169.38
Sarn-Eth 1.10N/A 0.90 0.95 4.60 181.19 0.90 4.40 173.32
Kawartha N/A N/A N/A N/A N/A
London-Ing N/A 1.10 0.80 0.80 0.90 4.40 173.32
Pt.Colb-Ing N/A 0.90 0.85N/A 0.90 4.40 173.32
Cardnl-Ing N/A 1.45 1.05 1.10 1.05 4.55 179.22
W O Feed 1.44 4.94 194.66
US Rep 1.29 4.79 188.67
Toledo El. -0.26 3.24 127.69 -0.27 3.23 127.20
TRANSFER
Sarnia N/A N/A
MID SD CRN 0.65 1 4.15 1/4
HI SD CRN 0.70 4.20 1/4
*Wet Bid
Exchange rate was 1.2331 down 0.0016
Chicago soybeans closed slightly higher.
NOV17 HI 9.73 NOV18 HI 9.90 1/2
LOW 9.63 LOW 9.82 1/4
CLOSE9.70 3/4 Up 3/4 CLOSE 9.88 3/4 Up 1/2
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 11.11 408.131.25 11.14 409.23
CK High 1.55 11.26 413.641.35 11.24 412.91
CK Average 1.50 -0.6211.20 411.621.32 -0.8111.21 411.74
Essex Cty 1.35 11.06 406.291.30 11.19 411.07
Mdsx Low 1.55 11.26 413.641.35 11.24 412.91
Mdsx High 1.58 11.29 414.741.37 11.26 413.64
Mdsx Average 1.57 -0.5711.27 414.191.36 -0.7811.25 413.27
Hensall 1.55 11.26 413.641.38 11.26 413.83
Bruce 1.55 11.26 413.641.35 11.24 412.91
Putnam 1.45 11.16 409.971.25 11.14 409.23
Burford 1.62 11.33 416.211.41 11.30 415.11
Port Perry 1.58 11.29 414.741.37 11.26 413.64
Norfolk 1.55 11.26 413.641.35 11.24 412.91
Palmerston 1.45 11.16 409.971.30 11.19 411.07
Varna 1.40 11.11 408.131.30 11.19 411.07
Trenton 1.55 11.26 413.641.35 11.24 412.91
Winchester 1.60 11.31 415.481.28 11.17 410.34
North Gower 1.69 11.40 418.791.35 11.24 412.91
Huron FOB 1.65 11.36 417.321.50 11.39 418.42
Kent FOB 1.50 11.21 411.811.35 11.24 412.91
Lambton FOB 1.75 11.46 420.991.55 11.44 420.26
Middlesex FOB1.82 1.82 1.88 1.85 11.53 423.561.54 11.43 419.89
TRANSFER
Prescott 1.88 11.59 425.771.57 11.46 420.99
Sarnia N/A N/A
Toledo El. -0.54 9.16 336.75-0.37 9.52 349.70
Exchange rate was 1.2331 down 0.0016
Chicago wheat closed slightly higher.
DEC17 HI 4.54 1/2 JUL18 HI 4.97 3/4
LOW 4.45 1/2 LOW 4.90 3/4
CLOSE 4.52 1/2 Up 2 3/4 CLOSE 4.96 1/4 Up 1 3/4
Minni wheat closed steady to slightly higher.
DEC17 HI 6.30 SEP18 HI 6.31
LOW 6.21 1/4 LOW 6.28 1/2
CLOSE 6.24 1/4 Up 2 3/4 CLOSE 6.29 1/2 Unchanged
GFO Cash Wheat Prices - DEL Terminal
Harvest 17 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.68 0.93 0.81 0.35
CAD $/bu 5.21 5.46 5.33 6.59
CAD $/tonne 191.43 200.49 195.96 242.07
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 0.45 N/A N/A N/A 0.60 N/A
London 0.48 0.61 0.48 N/A 0.95 0.70 0.64 N/A
Hensall 0.45 N/A 0.45 N/A 0.85 N/A 0.60 N/A
Trenton N/A N/A 0.65 N/A N/A N/A 0.70 N/A
Bruce 0.45 0.45 0.45 0.25 0.85 0.65 0.60 0.35
Essex N/A N/A N/A N/A N/A N/A 0.55 N/A
Norwich 0.45 N/A 0.45 N/A 0.85 N/A 0.60 N/A
Port Hope N/A 0.65 0.60 N/A N/A 0.65 0.70 N/A
Kent Bridge 0.45 N/A 0.45 N/A 0.85 N/A 0.60 N/A
Chatham N/A N/A 0.45 N/A N/A N/A 0.60 N/A
Brigden N/A N/A 0.45 N/A N/A N/A 0.60 N/A
Palmerston N/A 0.45 0.35 0.25 N/A 0.65 0.45 0.35
Varna 0.75 0.45 0.45 N/A 0.80 0.60 0.60 N/A
Mitchell 0.75 0.45 0.45 N/A 0.85 0.65 0.60 N/A
Thornton N/A N/A N/A 0.24 N/A N/A N/A N/A
North Gower N/A 0.83 0.71 0.30 N/A 0.94 0.88 0.13
W O Feed 1.04
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 1.30N/A N/A N/A 1.04N/A
Toledo El. 4.33US 5.33CA 4.76US 5.88CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 18 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 0.79 0.79 0.73 0.12
CAD $/bu 5.76 5.76 5.69 6.41
CAD $/tonne 211.48 211.48 209.21 235.63
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 460.77
DDG's FOB Srn & Aylm 145.00
---
Ontario Grain Market Commentary for September 20, 2017
By Marty Hibbs, Grain Farmers of Ontario
Wednesday, September 20, 2017 Closing Prices
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT Dec 3.50 ↓ 01 cents
Soybeans CBOT Nov 9.70 ↑ 11 cents
Wheat CBOT Dec 4.50 ↑ 07 cents
Wheat Minn. Dec 6.22 ↑ 12 cents
Wheat Kansas Dec 4.48 ↑ 05 cents
Chicago Oats Dec 2.46 ↑ 08 cents
Canadian $ Dec .8115 ↓ 0.75 points
Corn:
The $3.45 support level that we have identified on the December futures contract has been tested three times in the past three weeks. This leads me to believe that the bottom may be in for the next few weeks. This, of course, is a temporary line in the sand as the weekly charts show a move lower is very possible; we are still under a red sell signal from the August 25 commentary. For this reason, we have conflicting charts showing a possible temporary low at $3.45 and possibly an upcoming bounce in the short term. Our first resistance level is at the $3.60 and again at the $3.70 level on the December contract.
Short term indicators have turned positive, but weekly and monthly indicators are still negative, and the primary trend is still down.
Soybeans:
Soybeans have a unique pattern that I am reluctant to call. For those of you that read my commentaries on a regular basis, you may recall me speaking many times about a possible move towards the $8.50 level if we negate the $9 level on the nearby futures. Looking at both the daily and weekly charts, I have a formation that could be either a positive, suggesting a possible short bottom, or an inverted head and shoulders position showing a decline target to the $8.50 area that we have spoken about so often. We will not be able to identify the formation unless we see a move above $10 on the nearby contract or a move below $9 on the same contract. I will refrain from guessing the price direction, but will say for certainty that the primary trend is down and that we could still rally towards the $10 price without changing the chart formation.
Sticking more to what we know, 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 last commentary when we suggested we are more than due for at least a 40 cent bounce from these levels over the next few weeks.
Support still sits at $4 - $4.20 on the December chart, while overhead resistance is viewed at $4.60 - $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.
All indicators are still negative, and the primary trend is still down.
Harvest 2017 prices as of the close, September 20, are as follows:
SWW @ $190.53/MT ($5.19/bu), HRW @ $199.60/MT ($5.43/bu),
HRS @ $241.11/MT ($6.56/bu), SRW @ $195.06/MT ($5.31/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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Grain Farmers of Ontario
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