[Farmmarketnews] Thursday Ontario Commodity Report
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Thu Dec 6 15:28:12 EST 2018
Futures Prices as of close, December 05, 2018
Commodity Period Price Weekly Movement
Corn CBOT Mar 3.85 ↑ 06 cents
Soybeans CBOT Jan 9.13 ↑ 18 cents
Wheat CBOT Mar 5.19 ↑ 00 cents
Wheat Minn. Mar 5.75 ↑ 03 cents
Wheat Kansas Mar 4.97 ↓ 05 cents
Oats CBOT Mar 2.88 ↓ 07 cents
Canadian $ Dec 0.7475 ↓ 0.42 points
Corn:
It was a positive week in corn as we gapped higher in prices and received a red buy signal on the daily chart. This signals the eventual test of the $3.90 level on the March futures contract in the coming weeks. This is the only overhead resistance left to overcome before an attempt at the $4 Level, which is a price not seen since early August.
Both short and mid-term indicators are now positive, but the primary trend is still down.
Soybeans:
We mentioned last week that the G20 summit may have some influence on the price break either way. With the initial comments, it seems there is hope for an agreement on tariffs, and the markets reacted positively. It was an exciting week in soybeans as we broke above the box formation which has been in place since June 1 of this year. This move will allow us to move towards the resistance level of $9.60-$9.80 on the lead month futures contract.
Short term indicators are still positive, while the primary trend remains down. Resistance remains around the $9.60 level just above the box.
Wheat:
Wheat performed nicely last week along with the other grains. We are groping for a support line once again as the $5. Level on the March contract looks supportive. The December contract will be expiring and that should release some downward pressure on the March contract. A close above the $5.25-$5.35 level on the March futures would rejuvenate the buying and we could start seeing some serious upside coming into the new year and spring season. Overall the weekly charts still look very constructive and I still feel we will see stronger prices in the spring.
Short term indicators are neutral, and the primary trend is neutral to mildly bullish.
Harvest 2018 Grain prices as of the close, December 05, 2018 are as follows:
SWW @ $237.42/MT ($6.46/bu), HRW @ $244.79/MT ($6.66/bu),
HRS @ $238.40/MT ($6.49/bu), SRW @ $237.42/MT ($6.46/bu).
Marty Hibbs, Grain Farmers of Ontario
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, December 6
(All Bases in CAD)
Exchange rate was 1.3384 up 0.0004
Chicago corn closed slightly lower.
MAR19 HI 3.84 3/4 DEC19 HI 4.03 1/4
LOW 3.80 LOW 3.99 1/4
CLOSE3.82 3/4 Down 1 1/2 CLOSE 4.01 1/4 Down 1
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt U.S. $/bu $/mt Cntrct U.S. $/bu $/mt
ELEVATORS +MAR19+MAR19+MAY19
CK Low 0.75 4.58 180.21 0.80 4.81 189.46
CK High 0.90 4.73 186.11 0.80 4.81 189.46
CK Avg 0.81 -0.36 4.64 182.57 0.80 -0.40 4.81 189.46
Essex Cty 0.90 4.73 186.11 0.80 4.81 189.46
Mdsx Low 0.80 4.63 182.18 0.80 4.81 189.46
Mdsx High 0.80 4.63 182.18 0.85 4.86 191.43
Mdsx Avg 0.80 -0.37 4.63 182.18 0.83 -0.38 4.84 190.44
Hensall 0.83 4.65 183.16 0.83 4.84 190.44
Bruce 0.85 4.68 184.15 0.85 4.86 191.43
Putnam 0.80 4.63 182.18 0.80 4.81 189.46
Burford 0.80 4.63 182.18 0.80 4.81 189.46
Port Perry 0.85 4.68 184.15 0.85 4.86 191.43
Norfolk 0.90 4.73 186.11 0.80 4.81 189.46
Palmerston 0.80 4.63 182.18 0.85 4.86 191.43
Varna 0.80 4.63 182.18 0.80 4.81 189.46
Trenton 0.80 4.63 182.18 0.85 4.86 191.43
Winchester 1.20 5.03 197.92 1.15 5.16 203.24
North Gower 1.13 4.96 195.17 1.10 5.11 201.27
Huron FOB 1.20 5.03 197.92 0.85 4.86 191.43
Kent FOB 1.20 5.03 197.92 0.90 4.91 193.40
Lamb FOB 1.20 5.03 197.92 0.95 4.96 195.36
Mdsx FOB 0.95N/A N/A N/A 4.78 188.08 0.90 4.91 193.40
FOB SW Que 1.35 5.18 203.83N/A
Track 1.38 5.20 204.81N/A
PROCESSORS
Chat-Eth N/A 1.49 1.53 1.50 1.12 5.13 202.06
Jhnstwn-Eth N/A N/A 1.55 1.53 1.29 5.30 208.75
Aylmer-Eth N/A 1.40 1.45 1.44 1.10 5.11 201.27
Sarn-Eth N/A 1.30 1.35N/A N/A
Kawartha N/A N/A N/A N/A N/A
London-Ing 1.45 1.45 1.50 1.45 5.28 207.77 1.10 5.11 201.27
Pt.Colb-Ing N/A N/A N/A N/A N/A*
Cardnl-Ing N/A N/A N/A N/A 1.28 5.29 208.36
W O Feed 1.65 5.48 215.54
US Rep 1.80 5.63 221.54
Toledo El. -0.19 3.64 143.31 -0.27 3.75 147.47
MID SD CRN 0.82 1/2 4.65 1/4
HI SD CRN 0.90 4.72 3/4
*Wet Bid
Exchange rate was 1.3384 up 0.0004
Chicago soybeans closed slightly lower.
JAN19 HI 9.12 1/4 NOV19 HI 9.55 1/2
LOW 8.97 LOW 9.43 1/4
CLOSE9.09 1/2 Down 4 CLOSE 9.54 1/2 Down 2 1/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt
ELEVATORS +JAN1+MAR1+MAR19
CK Low 2.30 11.40 418.692.20 11.75 431.55
CK High 2.40 11.50 422.372.35 11.90 437.07
CK Average 2.32 -0.5711.42 419.432.25 -0.7011.79 433.32
Essex Cty 2.40 11.50 422.372.35 11.90 437.07
Mdsx Low 2.30 11.40 418.692.20 11.75 431.55
Mdsx High 2.34 11.44 420.162.33 11.88 436.33
Mdsx Average 2.32 -0.5711.42 419.432.27 -0.6811.81 433.94
Hensall 2.35 11.45 420.532.25 11.80 433.39
Bruce 2.40 11.50 422.372.30 11.85 435.23
Putnam 2.30 11.40 418.692.20 11.75 431.55
Burford 2.34 11.44 420.162.33 11.88 436.33
Port Perry 2.30 11.40 418.692.29 11.84 434.86
Norfolk 2.40 11.50 422.372.35 11.90 437.07
Palmerston 2.20 11.30 415.022.20 11.75 431.55
Varna 2.25 11.35 416.862.15 11.70 429.72
Trenton 2.25 11.35 416.862.20 11.75 431.55
Winchester 2.47 11.57 424.942.30 11.85 435.23
North Gower 2.60 11.70 429.722.35 11.90 437.07
Huron FOB 2.50 11.60 426.042.40 11.95 438.90
Kent FOB 2.55 11.65 427.882.35 11.90 437.07
Lambton FOB 2.40 11.50 422.372.40 11.95 438.90
Middlesex FOB2.44 2.49 2.46 2.46 11.54 423.842.43 11.98 440.01
PROCESSORS
Windsor 2.95 N/A N/A N/A 12.05 442.582.83 12.38 454.70
TRANSFER
Hamilton 2.80 11.90 437.072.60 12.15 446.25
Prescott N/A 2.62 12.17 446.99
Toledo El. -0.51 8.59 315.50-0.40 9.15 336.03
Exchange rate was 1.3384 up 0.0004
Chicago wheat closed slightly lower.
MAR19 HI 5.18 1/2 JUL19 HI 5.28 3/4
LOW 5.10 LOW 5.21 3/4
CLOSE 5.15 1/2 Down 2 1/2 CLOSE 5.25 1/2 Down 2 1/4
Minni wheat closed slightly to moderately lower.
MAR19 HI 5.77 1/4 SEP19 HI 5.91 3/4
LOW 5.68 1/2 LOW 5.88
CLOSE 5.69 1/4 Down 6 1/4 CLOSE 5.88 1/4 Down 3 1/2
GFO Cash Wheat Prices - DEL Terminal
Harvest 18 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.28 1.48 1.28 0.72
CAD $/bu 6.43 6.63 6.43 6.41
CAD $/tonne 236.30 243.68 236.30 235.69
Direct MarkHarvest 2018 Harvest 2019
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 1.20 N/A N/A N/A 1.15 N/A
London 1.27 1.40 1.27 N/A 1.28 1.41 1.21 N/A
Hensall 1.35 N/A 1.20 N/A 1.40 N/A 1.15 N/A
Trenton N/A N/A N/A N/A N/A N/A 1.10 N/A
Bruce 1.25 1.55 1.25 0.85 1.20 1.50 1.15 0.85
Essex N/A N/A 1.15 N/A N/A N/A 1.10 N/A
Norwich 1.35 N/A 1.20 N/A 1.40 N/A 1.15 N/A
Port Hope N/A N/A 1.20 N/A N/A 1.20 1.15 N/A
Kent Bridge 1.35 N/A 1.20 N/A 1.40 N/A 1.15 N/A
Chatham N/A N/A 1.15 N/A N/A N/A 1.10 N/A
Brigden N/A N/A 1.15 N/A N/A N/A 1.10 N/A
Palmerston N/A 1.50 1.20 0.80 N/A 1.45 1.10 0.80
Varna 1.40 1.50 1.20 N/A 1.20 1.45 1.10 N/A
Mitchell 1.35 1.20 1.20 N/A 1.40 1.30 1.15 N/A
Thornton N/A N/A N/A 0.62 N/A N/A N/A N/A
North Gower N/A 1.20 0.93 0.60 N/A 1.27 1.21 0.45
W O Feed 1.89
PROCESSORS
Toledo FM N/A N/A 1.88 N/A N/A N/A 1.88 N/A
Toledo El. N/A 5.11US 6.80CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 19 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.28 1.35 1.28 0.56
CAD $/bu 6.54 6.60 6.54 6.44
CAD $/tonne 240.22 242.67 240.22 236.67
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 505.09
DDG's FOB Srn & Aylm 160.00
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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