[Farmmarketnews] Thursday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Thu Sep 27 15:48:41 EDT 2018
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, September 27
(All Bases in CAD)
Exchange rate was 1.3012 up 0.0017
Chicago corn closed slightly higher.
DEC18 HI 3.65 3/4 DEC18 HI 3.65 3/4
LOW 3.61 1/4 LOW 3.61 1/4
CLOSE3.64 3/4 Up 1 3/4 CLOSE 3.64 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 +DEC18+DEC18+MAR19
CK Low 1.10 4.75 186.90 0.90 4.55 179.03
CK High 1.25 4.90 192.81 0.95 4.60 181.00
CK Avg 1.13 0.02 4.77 187.89 0.91 -0.13 4.56 179.36
Essex Cty 1.10 4.75 186.90 0.90 4.55 179.03
Mdsx Low 1.10 4.75 186.90 0.90 4.55 179.03
Mdsx High 1.10 4.75 186.90 0.90 4.55 179.03
Mdsx Avg 1.10 0.00 4.75 186.90 0.90 -0.14 4.55 179.03
Hensall 1.10 4.75 186.90 0.90 4.55 179.03
Bruce 1.10 4.75 186.90 0.90 4.55 179.03
Putnam N/A 0.90 4.55 179.03
Burford N/A 0.90 4.55 179.03
Port Perry 1.10 4.75 186.90 0.95 4.60 181.00
Norfolk 1.10 4.75 186.90 0.90 4.55 179.03
Palmerston 1.25 4.90 192.81 0.90 4.55 179.03
Varna 1.10 4.75 186.90 0.90 4.55 179.03
Trenton N/A 0.95 4.60 181.00
Winchester N/A 1.26 4.91 193.20
North Gower 1.20 4.85 190.84 1.25 4.90 192.81
Huron FOB 1.10 4.75 186.90 0.95 4.60 181.00
Kent FOB N/A 0.92 4.57 179.81
Lamb FOB 1.05 4.70 184.93 0.95 4.60 181.00
Mdsx FOB 1.10N/A N/A N/A 4.75 186.90 1.00 4.65 182.96
FOB SW Que 1.84 5.49 216.03N/A
Track 1.40 5.05 198.71N/A
PROCESSORS
Chat-Eth N/A N/A N/A 1.22 N/A
Jhnstwn-Eth N/A N/A N/A 1.44 N/A
Aylmer-Eth N/A 1.20 1.15 1.20 1.15 4.80 188.87
Sarn-Eth N/A N/A 1.15 1.15 1.15 4.80 188.87
Kawartha N/A N/A N/A N/A N/A
London-Ing N/A N/A N/A 1.25 N/A
Pt.Colb-Ing N/A N/A N/A N/A 1.35* 5.00 196.74
Cardnl-Ing N/A N/A N/A 1.45 N/A
W O Feed 1.51 5.16 202.96
US Rep 1.55 5.20 204.62
Toledo El. -0.46 3.19 125.67 -0.45 3.19 125.74
MID SD CRN 0.92 1/2 4.57 1/4
HI SD CRN 0.95 4.59 3/4
*Wet Bid
Exchange rate was 1.3012 up 0.0017
Chicago soybeans closed slightly higher.
NOV18 HI 8.59 NOV19 HI 9.23
LOW 8.46 1/2 LOW 9.11 3/4
CLOSE8.55 Up 5 CLOSE 9.20 1/4 Up 5 1/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt
ELEVATORS +NOV1+NOV1+JAN19
CK Low 2.60 11.15 409.691.90 11.10 407.95
CK High 2.65 11.20 411.532.00 11.20 411.62
CK Average 2.64 0.05 11.19 411.101.93 -0.6111.13 409.05
Essex Cty 2.50 11.05 406.021.95 11.15 409.78
Mdsx Low 2.65 11.20 411.531.90 11.10 407.95
Mdsx High 2.66 11.21 411.901.96 11.16 410.15
Mdsx Average 2.66 0.06 11.21 411.711.93 -0.6111.13 409.05
Hensall 2.65 11.20 411.531.90 11.10 407.95
Bruce 2.65 11.20 411.531.90 11.10 407.95
Putnam 2.55 11.10 407.861.85 11.05 406.11
Burford 2.70 11.25 413.372.00 11.20 411.62
Port Perry 2.63 11.18 410.791.93 11.13 409.05
Norfolk 2.65 11.20 411.531.90 11.10 407.95
Palmerston 2.65 11.20 411.531.95 11.15 409.78
Varna 2.55 11.10 407.861.80 11.00 404.27
Trenton 2.65 11.20 411.532.00 11.20 411.62
Winchester 2.75 11.30 415.202.01 11.21 411.99
North Gower 2.65 11.20 411.532.00 11.20 411.62
Huron FOB 2.70 11.25 413.372.00 11.20 411.62
Kent FOB 2.65 11.20 411.531.90 11.10 407.95
Lambton FOB 2.75 11.30 415.202.00 11.20 411.62
Middlesex FOB2.73 2.73 2.86 2.84 11.28 414.472.07 11.27 414.19
PROCESSORS
Windsor 2.72 11.27 414.10 N/A
TRANSFER
Hamilton 2.90 11.45 420.722.20 11.40 418.97
Prescott 2.90 11.45 420.722.40 11.60 426.32
Toledo El. -0.72 7.83 287.86-0.39 8.81 323.85
Exchange rate was 1.3012 up 0.0017
Chicago wheat closed slightly to moderately lower.
DEC18 HI 5.22 JUL19 HI 5.51 3/4
LOW 5.11 1/4 LOW 5.42
CLOSE 5.13 Down 4 1/2 CLOSE 5.42 1/4 Down 6
Minni wheat closed slightly higher.
DEC18 HI 5.83 3/4 SEP19 HI 6.12
LOW 5.76 3/4 LOW 6.10 1/4
CLOSE 5.80 Up 2 1/2 CLOSE 6.12 Up 1
GFO Cash Wheat Prices - DEL Terminal
Harvest 18 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.09 1.29 1.09 0.58
CAD $/bu 6.22 6.42 6.22 6.38
CAD $/tonne 228.54 235.71 228.54 234.28
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 0.80 N/A N/A N/A 0.90 N/A
London 0.97 1.17 0.84 N/A 1.19 1.25 0.97 N/A
Hensall 0.90 N/A 0.80 N/A 1.15 N/A 0.95 N/A
Trenton N/A N/A N/A N/A N/A N/A 0.90 N/A
Bruce 0.85 1.20 0.80 0.55 1.15 1.30 0.95 0.65
Essex N/A N/A N/A N/A N/A N/A 0.95 N/A
Norwich 0.90 N/A 0.80 N/A 1.15 N/A 0.95 N/A
Port Hope N/A 1.00 0.80 N/A N/A 1.20 0.95 N/A
Kent Bridge 0.90 N/A 0.80 N/A 1.15 N/A 0.95 N/A
Chatham N/A N/A 0.80 N/A N/A N/A 0.90 N/A
Brigden N/A N/A 0.80 N/A N/A N/A 0.90 N/A
Palmerston N/A 1.15 0.95 0.55 N/A 1.10 1.05 N/A
Varna 1.00 1.20 0.80 N/A 1.15 1.30 0.95 N/A
Mitchell 0.90 1.05 0.80 N/A 1.15 1.25 0.95 N/A
Thornton N/A N/A N/A 0.31 N/A N/A N/A N/A
North Gower N/A 1.15 0.90 0.45 N/A 1.11 1.11 0.35
W O Feed 1.43
PROCESSORS
Toledo FM N/A N/A 1.48 N/A N/A N/A 1.74 N/A
Toledo El. 5.03US 6.55CA 5.27US 6.83CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 19 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.15 1.22 1.15 0.45
CAD $/bu 6.57 6.64 6.57 6.57
CAD $/tonne 241.58 243.97 241.58 241.47
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 494.06
DDG's FOB Srn & Aylm 220.00 - 225.00
---
Ontario Grain Market Commentary for September 26, 2018
By Marty Hibbs, Grain Farmers of Ontario
Wednesday, September 26, 2018 Closing Prices
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT Dec 3.63 ↑ 15 cents
Soybeans CBOT Nov 8.50 ↑ 20 cents
Wheat CBOT Dec 5.17 ↓ 05 cents
Wheat Minn. Dec 5.77 ↓ 09 cents
Wheat Kansas Dec 5.21 ↓ 05 cents
Chicago Oats Dec 2.58 ↑ 09 cents
Canadian $ Dec .7706 ↓ 0.45 points
Corn:
Another test of the $3.35 support area was confirmed again this past week. Charts are looking more constructive and there is a chance we may have already seen the bottom in prices.
The four-year-old downtrend line is located near the $3.50 - $3.70 level on the December contract and we have been sitting on this support area since March of this year.
Initial support is seen at the $3.30 level on December. All indicators are neutral to bearish but the primary trend is still down.
Soybeans:
Our $8 area on the November contract has been tested once again and is looking solid at this point. It is important to remember that events change from day to day and until we see a close below the $8 level on November futures, we are experiencing support. If this remains the case going forward, we could actually start an ascent higher and if that were to happen we could head back to test the $9 resistance level. If on the other hand, we break down below the support level, this could lead to a sell-off followed by a capitulation and possibly a bottom in prices going into the harvest.
All indicators are still negative with immediate overhead resistance now at the $9 level, while initial support is seen at the $8 level based on the November futures. The primary trend remains down.
Wheat:
Wheat had a tight range this week as we are approaching the United States Department of Agriculture (USDA) report release on September 28. This could set the tone for the rest of the year.
The charts look quite constructive with a large double bottom near the $5 level on the December futures. Our next challenge on the December futures is an attempt to reach the $5.40 - $5.50 level on December futures.
Good support is still seen at the $5 area on December futures while overhead resistance is now back at $5.50.
Short and intermediate term indicators are negative while the primary trend is still mildly bullish.
Harvest 2018 Grain prices as of the close, September 26, 2018 are as follows:
SWW @ $230.19/MT ($6.26/bu), HRW @ $237.35/MT ($6.46/bu),
HRS @ $232.58/MT ($6.33/bu), SRW @ $230.19/MT ($6.26/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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