[Farmmarketnews] Wednesday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Dec 4 15:27:16 EST 2019
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, December 4
(All Bases in CAD)
Exchange rate was 1.3201 down 0.0101
Chicago corn closed slightly lower.
MAR20 HI 3.83 DEC20 HI 3.93 3/4
LOW 3.77 1/4 LOW 3.90 1/2
CLOSE3.78 1/2 Down 2 3/4 CLOSE 3.92 Down 1/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt U.S. $/bu $/mt Cntrct U.S. $/bu $/mt
ELEVATORS +MAR20+MAR20+MAY20
CK Low 1.25 5.04 198.22 0.90 4.82 189.76
CK High 1.25 5.04 198.22 0.95 4.87 191.72
CK Avg 1.25 0.03 5.04 198.22 0.91 -0.26 4.83 190.08
Essex Cty 1.25 5.04 198.22 0.90 4.82 189.76
Mdsx Low 1.25 5.04 198.22 0.90 4.82 189.76
Mdsx High 1.25 5.04 198.22 0.90 4.82 189.76
Mdsx Avg 1.25 0.03 5.04 198.22 0.90 -0.27 4.82 189.76
Hensall 1.28 5.06 199.20 0.93 4.85 190.74
Bruce 1.25 5.04 198.22 0.90 4.82 189.76
Putnam 1.25 5.04 198.22 0.90 4.82 189.76
Burford 1.25 5.04 198.22 0.90 4.82 189.76
Port Perry 1.25 5.04 198.22 0.90 4.82 189.76
Norfolk 1.25 5.04 198.22 0.90 4.82 189.76
Palmerston 1.28 5.07 199.40 0.89 4.81 189.36
Varna 1.25 5.04 198.22 0.90 4.82 189.76
Trenton 1.30 5.09 200.19 0.90 4.82 189.76
Winchester 1.25 5.04 198.22 0.90 4.82 189.76
North Gower 1.37 5.16 202.94 1.10 5.02 197.63
Huron FOB 1.47 5.26 206.88 0.95 4.87 191.72
Kent FOB 1.35 5.14 202.16 0.95 4.87 191.72
Lamb FOB 1.43 5.22 205.31 1.00 4.92 193.69
Mdsx FOB 1.40 1.40N/A N/A 5.19 204.12 0.90 4.82 189.76
FOB SW Que 1.87 5.66 222.63N/A
Track 1.71 5.49 216.13N/A
PROCESSORS
Chat-Eth N/A N/A N/A N/A 1.17 5.09 200.38
Jhnstwn-Eth N/A N/A N/A N/A 1.42 5.34 210.23
Aylmer-Eth N/A N/A 1.69 1.68 1.15 5.07 199.60
Sarn-Eth N/A 1.55 1.60 1.60 N/A
London-Ing N/A 1.75 1.75 1.75 1.25 5.17 203.53
Pt.Colb-Ing N/A N/A N/A N/A N/A
Cardnl-Ing N/A 1.75 1.75 1.75 1.30 5.22 205.50
W O Feed 1.82 5.60 220.50
US Rep 2.19 5.98 235.23
Toledo El. 0.26 4.05 159.40 -0.26 3.66 143.93
TRANSFER
Pt. Colb 1.60 5.39 212.00N/A
Prescott 1.60 5.39 212.00N/A
HI SD CRN 1.25 5.03 1/2
*Wet Bid
Exchange rate was 1.3201 down 0.0101
Chicago soybeans closed slightly higher.
JAN20 HI 8.80 NOV20 HI 9.30 3/4
LOW 8.71 1/2 LOW 9.25
CLOSE8.78 Up 7 CLOSE 9.29 1/4 Up 3 3/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt
ELEVATORS +JAN2+MAR2+MAR20
CK Low 2.25 11.03 405.282.20 11.49 422.28
CK High 2.30 11.08 407.122.25 11.54 424.11
CK Average 2.29 -0.3911.07 406.812.24 -0.5611.53 423.69
Essex Cty 2.30 11.08 407.122.20 11.49 422.28
Mdsx Low 2.23 11.01 404.552.21 11.50 422.64
Mdsx High 2.30 11.08 407.122.25 11.54 424.11
Mdsx Average 2.27 -0.4111.05 405.832.23 -0.5611.52 423.38
Hensall 2.30 11.08 407.122.23 11.52 423.20
Bruce 2.30 11.08 407.122.25 11.54 424.11
Putnam 2.30 11.08 407.122.25 11.54 424.11
Burford 2.30 11.08 407.122.28 11.57 425.22
Port Perry 2.25 11.03 405.282.23 11.52 423.38
Norfolk 2.30 11.08 407.122.20 11.49 422.28
Palmerston 2.15 10.93 401.612.27 11.56 424.85
Varna 2.30 11.08 407.122.20 11.49 422.28
Trenton 2.30 11.08 407.122.25 11.54 424.11
Winchester 2.25 11.03 405.282.25 11.54 424.11
North Gower 2.28 11.06 406.392.28 11.57 425.22
Huron FOB 2.45 11.23 412.632.30 11.59 425.95
Kent FOB 2.45 11.23 412.632.20 11.49 422.28
Lambton FOB 2.50 11.28 414.472.30 11.59 425.95
Middlesex FOB2.53 2.33 N/A N/A 11.31 415.572.29 11.58 425.58
PROCESSORS
Windsor N/A 2.44 11.73 431.10
TRANSFER
Hamilton 2.85 11.63 427.332.60 11.89 436.97
Prescott N/A N/A
Port Colborne2.81 11.59 425.862.64 11.93 438.44
Toledo El. -0.13 8.65 317.76-0.46 8.83 324.46
Exchange rate was 1.3201 down 0.0101
Chicago wheat closed narrowly mixed.
MAR20 HI 5.29 3/4 JUL20 HI 5.35 1/2
LOW 5.22 1/4 LOW 5.28 3/4
CLOSE 5.27 1/2 Up 2 1/4 CLOSE 5.32 3/4 Up 1 3/4
Minni wheat closed slightly higher.
MAR20 HI 5.19 SEP20 HI 5.44
LOW 5.13 LOW 5.41 3/4
CLOSE 5.15 Up 1 1/2 CLOSE 5.42 3/4 Up 1 1/2
GFO Cash Wheat Prices - DEL Terminal
Harvest 19 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 2.15 2.35 2.02 1.25
CAD $/bu 7.43 7.62 7.29 6.40
CAD $/tonne 272.85 280.13 268.00 235.26
Direct MarkHarvest 2019 Harvest 2020
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 1.85 N/A N/A N/A 1.25 N/A
London 1.85 2.12 1.72 N/A 1.41 1.67 1.21 N/A
Hensall 1.85 N/A 1.85 N/A 1.40 N/A 1.25 N/A
Trenton N/A N/A N/A N/A N/A N/A 1.40 N/A
Bruce 1.85 2.25 1.80 1.75 1.45 1.65 1.20 1.15
Essex N/A N/A 1.75 N/A N/A N/A 1.20 N/A
Norwich 1.85 N/A 1.85 N/A 1.40 N/A 1.25 N/A
Port Hope N/A N/A 1.80 N/A N/A N/A 1.40 N/A
Kent Bridge 1.85 N/A 1.85 N/A 1.40 N/A 1.25 N/A
Chatham N/A N/A 1.75 N/A N/A N/A 1.20 N/A
Brigden N/A N/A 1.75 N/A N/A N/A 1.20 N/A
Palmerston N/A N/A 1.68 1.32 N/A N/A 1.12 0.95
Varna 1.95 2.25 1.85 N/A 1.45 1.65 1.25 N/A
Mitchell 1.85 2.20 1.85 N/A 1.40 1.65 1.25 N/A
Thornton N/A N/A N/A 1.92 N/A N/A N/A N/A
North Gower N/A 1.92 1.71 0.86 N/A 1.66 1.44 0.90
W O Feed 2.40
TERMINAL
Port Colbor N/A N/A 2.13 N/A N/A N/A 1.61 N/A
PROCESSORS
Toledo FM N/A N/A 2.08 N/A N/A N/A 1.71 N/A
Toledo El. 5.43US 7.16CA 5.43US 7.17CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 20 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.51 1.77 1.44 0.95
CAD $/bu 6.83 7.10 6.77 6.37
CAD $/tonne 251.14 260.84 248.72 234.17
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 475.88
DDG's FOB Srn & Aylm 195.00 - 205.00
---
Ontario Grain Market Commentary for December 4, 2019
By Todd Austin, Grain Farmers of Ontario
Wednesday, December 4, 2019
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT Mar 3.78½ ↑ 1¼ cents
Soybeans CBOT Jan 8.78 ↓ 27 cents
Wheat CBOT Mar 5.27½ ↑ 8¾ cents
Wheat Minn. Mar 5.15 ↓ ¼ cents
Wheat Kansas Mar 4.40½ ↑ 7½ cents
Oats CBOT Mar 3.04 ↓ 7¾ cents
Canadian $ Mar 0.7514 ↑ 61 points
CORN:
US corn harvest continues. The US corn harvest is 89% complete, though some areas are well below this pace. The five-year average pace for this time of the year is 98% complete. There is still a lot of corn in the fields, but progress is being made.
Demand for US corn has recently picked up. Ethanol production has increased for ten straight weeks, according to data provided by the Energy Information Administration’s report. Recently released export data from the USDA indicates that US exported 100 million gallons of ethanol and 1 million tonnes of distiller’s grain during the month of September.
SOYBEANS:
US soybean harvest is 96% complete. According to the USDA, this will be their last Crop Progress report for the 2019 season for soybeans.
In South America, where soybean planting is occurring, Brazil’s planting is estimated to be 87% complete.
On the demand side, the China – US trade war remains top of mind. China remains the top importer of soybeans in the world. All other export destinations pale in comparison to Chinese demand. If US beans are not shipping to China, they will search out other markets, which may affect Canada’s export opportunities.
WHEAT:
Over the past month, Russian wheat prices have risen on higher demand, both domestically and from exporters. Russia has exported 17.8 million tonnes of wheat since the beginning of the 2019/2020 season. Likewise, the Ukraine has exported 13.5million tonnes of wheat in the same period.
Meanwhile, Australia continues to cut its wheat harvest forecast. Wheat production is estimated to fall to 15.85 million tonnes this year, down almost 9% from last year. Previous USDA estimates were for a production of 17.2 million tonnes.
2019 cash prices for December 4, 2019, at the market close, are as follows:
SWW at $272.84/mt ($7.43/bu), HRW at $280.12/mt ($7.62/bu),
HRS at $235.25/mt ($6.40/bu), and SRW at $267.99/mt ($7.29/bu).
We currently offer 2020 and 2021 harvest prices as well, please call
1-800-265-0550 for more information.
---
Blair Andrews
Editor, AgriLink and Farm Market News
University of Guelph, Ridgetown Campus
Email:fmnc at uoguelph.ca
Tel. 519-674-1500 x 63577
Fax. 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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