[Farmmarketnews] Wednesday Ontario Commodity Report & GFO Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Jan 23 15:25:37 EST 2019
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, January 23
(All Bases in CAD)
Exchange rate was 1.3336 up 0.0004
Chicago corn closed narrowly mixed.
MAR19 HI 3.81 3/4 DEC19 HI 4.03 1/4
LOW 3.78 LOW 4.01
CLOSE3.78 3/4 Down 1/4 CLOSE 4.02 1/4 Up 1 1/2
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt U.S. $/bu $/mt Cntrct U.S. $/bu $/mt
ELEVATORS +MAR19+MAY19+MAY19
CK Low 0.95 4.74 186.51 0.85 4.87 191.82
CK High 0.95 4.74 186.51 0.90 4.92 193.79
CK Avg 0.95 -0.24 4.74 186.51 0.86 -0.35 4.88 192.22
Essex Cty 0.95 4.74 186.51 0.85 4.87 191.82
Mdsx Low 0.95 4.74 186.51 0.85 4.87 191.82
Mdsx High 0.95 4.74 186.51 0.85 4.87 191.82
Mdsx Avg 0.95 -0.24 4.74 186.51 0.85 -0.36 4.87 191.82
Hensall 0.95 4.74 186.51 0.85 4.87 191.82
Bruce 0.95 4.74 186.51 0.85 4.87 191.82
Putnam 0.95 4.74 186.51 0.85 4.87 191.82
Burford 0.95 4.74 186.51 0.85 4.87 191.82
Port Perry 0.95 4.74 186.51 0.90 4.92 193.79
Norfolk 0.95 4.74 186.51 0.85 4.87 191.82
Palmerston 0.95 4.74 186.51 0.85 4.87 191.82
Varna 0.95 4.74 186.51 0.85 4.87 191.82
Trenton 0.95 4.74 186.51 0.90 4.92 193.79
Winchester 1.15 4.94 194.38 1.15 5.17 203.63
North Gower 1.15 4.94 194.38 1.12 5.14 202.45
Huron FOB 1.25 5.04 198.32 0.95 4.97 195.76
Kent FOB 1.20 4.99 196.35 0.90 4.92 193.79
Lamb FOB 1.30 5.09 200.29 0.95 4.97 195.76
Mdsx FOB 1.25 1.25N/A N/A 5.04 198.32 0.95 4.97 195.76
FOB SW Que 1.55 5.34 210.13N/A
Track 1.50 5.29 208.16N/A
PROCESSORS
Chat-Eth N/A N/A N/A 1.56 1.14 5.16 203.24
Jhnstwn-Eth N/A N/A N/A N/A 1.14 5.16 203.24
Aylmer-Eth N/A 1.47 1.50 1.52 1.14 5.16 203.24
Sarn-Eth N/A 1.50 1.45 1.50 N/A
Kawartha N/A N/A N/A N/A N/A
London-Ing N/A N/A N/A 1.55 1.15 5.17 203.63
Pt.Colb-Ing N/A N/A N/A N/A N/A
Cardnl-Ing N/A N/A N/A N/A 1.25 5.27 207.57
W O Feed 1.68 5.47 215.32
US Rep 1.81 5.60 220.36
Toledo El. -0.13 3.65 143.86 -0.27 3.76 147.88
MID SD CRN 0.95 4.73 3/4
HI SD CRN 0.95 4.73 3/4
*Wet Bid
Exchange rate was 1.3336 up 0.0004
Chicago soybeans closed slightly higher.
MAR19 HI 9.18 1/4 NOV19 HI 9.57
LOW 9.10 1/2 LOW 9.51 1/4
CLOSE9.15 Up 5 3/4 CLOSE 9.56 1/4 Up 6
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt
ELEVATORS +MAR1+MAR1+MAY19
CK Low 2.07 11.22 412.262.25 11.81 434.04
CK High 2.10 11.25 413.372.30 11.86 435.87
CK Average 2.09 -0.7211.24 413.152.28 -0.6611.85 435.28
Essex Cty 2.10 11.25 413.372.35 11.91 437.71
Mdsx Low 2.10 11.25 413.372.30 11.86 435.87
Mdsx High 2.11 11.26 413.732.31 11.87 436.24
Mdsx Average 2.11 -0.7111.26 413.552.31 -0.6411.87 436.06
Hensall 2.15 11.30 415.202.30 11.86 435.87
Bruce 2.10 11.25 413.372.30 11.86 435.87
Putnam 2.10 11.25 413.372.30 11.86 435.87
Burford 2.11 11.26 413.732.31 11.87 436.24
Port Perry 2.07 11.22 412.262.27 11.83 434.77
Norfolk 2.10 11.25 413.372.30 11.86 435.87
Palmerston 1.95 11.10 407.862.35 11.91 437.71
Varna 2.05 11.20 411.532.30 11.86 435.87
Trenton 2.10 11.25 413.372.30 11.86 435.87
Winchester 2.10 11.25 413.372.31 11.87 436.24
North Gower 2.22 11.37 417.782.25 11.81 434.04
Huron FOB 2.20 11.35 417.042.40 11.96 439.55
Kent FOB 2.20 11.35 417.042.30 11.86 435.87
Lambton FOB 2.00 11.15 409.692.40 11.96 439.55
Middlesex FOB2.08 2.22 2.35 2.39 11.23 412.632.43 11.99 440.65
PROCESSORS
Windsor 2.66 N/A N/A N/A 11.81 433.942.79 12.35 453.88
TRANSFER
Hamilton 2.40 11.55 424.392.75 12.31 452.41
Prescott 1.90 11.05 406.022.65 12.21 448.73
Toledo El. -0.60 8.55 314.15-0.53 9.03 331.81
Exchange rate was 1.3336 up 0.0004
Chicago wheat closed slightly higher.
MAR19 HI 5.27 JUL19 HI 5.38 1/4
LOW 5.21 3/4 LOW 5.33
CLOSE 5.26 Up 4 3/4 CLOSE 5.37 1/2 Up 4 3/4
Minni wheat closed slightly higher.
MAR19 HI 5.79 SEP19 HI 5.95 1/4
LOW 5.72 LOW 5.90
CLOSE 5.75 1/2 Up 3 1/2 CLOSE 5.92 1/2 Up 2 1/2
GFO Cash Wheat Prices - DEL Terminal
Harvest 18 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.62 1.69 1.49 0.85
CAD $/bu 6.88 6.95 6.75 6.61
CAD $/tonne 252.85 255.30 247.95 242.80
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 1.30 N/A N/A N/A 1.20 N/A
London 1.53 1.40 1.33 N/A 1.55 1.42 1.28 N/A
Hensall 1.50 N/A 1.30 N/A 1.55 N/A 1.20 N/A
Trenton N/A N/A N/A N/A N/A N/A 1.20 N/A
Bruce 1.50 1.55 1.30 1.10 1.50 1.45 1.20 1.00
Essex N/A N/A 1.30 N/A N/A N/A 1.25 N/A
Norwich 1.50 N/A 1.30 N/A 1.55 N/A 1.20 N/A
Port Hope N/A N/A 1.30 N/A N/A 1.30 1.20 N/A
Kent Bridge 1.50 N/A 1.30 N/A 1.55 N/A 1.20 N/A
Chatham N/A N/A 1.30 N/A N/A N/A 1.25 N/A
Brigden N/A N/A 1.30 N/A N/A N/A 1.25 N/A
Palmerston N/A 1.60 1.15 1.10 N/A 1.50 1.20 1.00
Varna 1.50 1.60 1.30 N/A 1.40 1.50 1.20 N/A
Mitchell 1.50 1.30 1.30 N/A 1.55 1.30 1.20 N/A
Thornton N/A N/A N/A 0.86 N/A N/A N/A N/A
North Gower N/A 1.45 1.30 0.64 N/A 1.53 1.38 0.64
W O Feed 1.87
PROCESSORS
Toledo FM N/A N/A 1.95 N/A N/A N/A 1.91 N/A
Toledo El. 5.21US 6.95CA 5.23US 6.95CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 19 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.58 1.64 1.44 0.83
CAD $/bu 6.95 7.02 6.82 6.75
CAD $/tonne 255.44 257.88 250.55 248.10
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 490.43
DDG's FOB Srn & Aylm 185.00
Futures Prices as of close, January 23, 2019
Commodity Period Price Weekly Movement
Corn CBOT Mar 3.79 ↑ 05 cents
Soybeans CBOT Mar 9.16 ↑ 20 cents
Wheat CBOT Mar 5.26 ↑ 14 cents
Wheat Minn. Mar 5.75 ↑ 10 cents
Wheat Kansas Mar 5.15 ↑ 20 cents
Oats CBOT Mar 2.95 ↓ 01 cents
Canadian $ Mar 0.7500 ↓ .55 points
Corn:
Corn continued to track sideways and maintained its neutral status. We are in a $3.60 - $3.80 triangle formation and may continue to track that way until we see the re-appearance of government reports. We may get a few surprises when the reports finally show up on the news wires.
Indicators this week continue to be mixed with the short-term trend showing downward pressure while the intermediate upward trend is still intact and, of course, the primary trend is still down.
Soybeans:
Like the other grains, soybeans continue to gradually move higher although at a snail’s pace. We are looking at an ascending triangle pattern which is usually a precursor to building momentum. This means we could see higher prices into the spring market. Before we get too excited, we have a couple of major barriers to overcome. The first one is the $9.60 price point on March futures, and if successful, the major trend line at the $10.80 level could be challenged later this spring. Meanwhile, the absence of reports from the U.S. government could lead to much volatility in the coming weeks and months.
The March futures support is now at the $9 level and a close below that level will likely be cause for more downside probing.
Short-term indicators are now neutral while the primary trend remains down. The support line is at $9 and resistance remains at the $9.40 level on the March contract.
Wheat:
Wheat gained strength over the past week and I feel we should see resistance at the $5.35 level on the March futures. If we close above there, we open the door to a more substantial target of $5.40 which is the December high. We now have our support line well established at the $5 mark on the March futures and our overhead resistance stands at the $5.40 level. We need to stay above the $5 support to keep the positive tone in the futures.
Overall, the weekly charts still look very constructive and if I had to make a decision on marketing, I would be looking for higher prices in the spring.
All indicators are neutral to bullish.
Starting on February 6, 2019, Grain Farmers of Ontario will be hosting online webinars for those interested in learning how to utilize futures and options for hedging purposes in most agricultural products. These webinars will be hosted by myself. You can call me directly at 519-767-4123 or signup online at https://gfo.ca/event/grain-marketing-webinar-intro-to-futures/.
Marty Hibbs, Grain Farmers of Ontario
Cash Grain prices as of the close, January 23, 2019 are as follows:
SWW @ $252.69/MT ($6.88/bu), HRW @ $255.25/MT ($6.95/bu),
HRS @ $247.89/MT ($6.75/bu), SRW @ $247.89/MT ($6.75/bu).
Register now for the GFO Grain Marketing Webinar: Intro to Futures, which will be held at noon on February 6, 2019. Here is the link to the online registration form: https://gfo.ca/event/grain-marketing-webinar-intro-to-futures/
Grain Marketing Webinar: Intro to Futures – Grain Farmers of Ontario - gfo.ca<https://gfo.ca/event/grain-marketing-webinar-intro-to-futures/>
gfo.ca
Grain Farmers of Ontario is the province’s largest commodity organization, representing Ontario’s 28,000 barley, corn, oat, soybean and wheat farmers.
---
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>
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
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://lists.sentex.ca/pipermail/farmmarketnews/attachments/20190123/7def51f1/attachment-0001.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: grain.pdf
Type: application/pdf
Size: 511895 bytes
Desc: grain.pdf
URL: <http://lists.sentex.ca/pipermail/farmmarketnews/attachments/20190123/7def51f1/attachment-0002.pdf>
-------------- next part --------------
An embedded and charset-unspecified text was scrubbed...
Name: corn.txt
URL: <http://lists.sentex.ca/pipermail/farmmarketnews/attachments/20190123/7def51f1/attachment-0001.txt>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: wheatcom.pdf
Type: application/pdf
Size: 619669 bytes
Desc: wheatcom.pdf
URL: <http://lists.sentex.ca/pipermail/farmmarketnews/attachments/20190123/7def51f1/attachment-0003.pdf>
More information about the Farmmarketnews
mailing list