[Farmmarketnews] Thursday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Thu Jan 31 15:24:50 EST 2019
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, January 31
(All Bases in CAD)
Exchange rate was 1.3125 up 0.0014
Chicago corn closed slightly to moderately lower.
MAR19 HI 3.81 1/2 DEC19 HI 4.03 3/4
LOW 3.75 3/4 LOW 3.99 1/2
CLOSE3.76 1/2 Down 4 3/4 CLOSE 4.00 Down 3 3/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt U.S. $/bu $/mt Cntrct U.S. $/bu $/mt
ELEVATORS +MAY19+MAY19+JUL19
CK Low 0.95 4.72 185.62 0.85 4.85 190.94
CK High 1.00 4.77 187.59 0.90 4.90 192.90
CK Avg 0.96 -0.17 4.73 186.02 0.86 -0.29 4.86 191.33
Essex Cty 1.00 4.77 187.59 0.85 4.85 190.94
Mdsx Low 0.95 4.72 185.62 0.85 4.85 190.94
Mdsx High 0.95 4.72 185.62 0.85 4.85 190.94
Mdsx Avg 0.95 -0.17 4.72 185.62 0.85 -0.30 4.85 190.94
Hensall 0.95 4.72 185.62 0.85 4.85 190.94
Bruce 0.95 4.72 185.62 0.85 4.85 190.94
Putnam 0.95 4.72 185.62 0.85 4.85 190.94
Burford 0.95 4.72 185.62 0.85 4.85 190.94
Port Perry 0.95 4.72 185.62 0.90 4.90 192.90
Norfolk 1.00 4.77 187.59 0.85 4.85 190.94
Palmerston 0.95 4.72 185.62 0.85 4.85 190.94
Varna 0.95 4.72 185.62 0.85 4.85 190.94
Trenton 0.95 4.72 185.62 0.85 4.85 190.94
Winchester 1.10 4.87 191.53 1.15 5.15 202.75
North Gower 1.12 4.89 192.31 1.10 5.10 200.78
Huron FOB 1.25 5.02 197.43 0.95 4.95 194.87
Kent FOB 1.25 5.02 197.43 0.90 4.90 192.90
Lamb FOB 1.30 5.07 199.40 0.95 4.95 194.87
Mdsx FOB 1.25 1.25N/A N/A 5.02 197.43 0.95 4.95 194.87
FOB SW Que 1.67 5.44 213.97N/A
Track 1.50 5.27 207.27N/A
PROCESSORS
Chat-Eth N/A N/A 1.57 1.55 1.15 5.15 202.75
Jhnstwn-Eth N/A N/A N/A N/A 1.22 5.22 205.50
Aylmer-Eth 1.47 1.50 1.52 1.50 5.24 206.09 1.14 5.14 202.35
Sarn-Eth 1.40 1.35 1.40N/A 5.17 203.34N/A
Kawartha N/A N/A N/A N/A N/A
London-Ing N/A N/A 1.55 1.53 1.15 5.15 202.75
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 5.25 206.68
W O Feed 1.63 5.40 212.55
US Rep 1.74 5.51 216.72
Toledo El. -0.12 3.65 143.57 -0.26 3.74 147.16
MID SD CRN 0.97 1/2 4.74
HI SD CRN 1.00 4.76 1/2
*Wet Bid
Exchange rate was 1.3125 up 0.0014
Chicago soybeans closed slightly lower.
MAR19 HI 9.26 3/4 NOV19 HI 9.65
LOW 9.13 1/4 LOW 9.53 1/2
CLOSE9.15 1/4 Down 5 3/4 CLOSE 9.55 1/2 Down 4 1/2
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt
ELEVATORS +MAR1+MAY1+MAY19
CK Low 2.05 11.20 411.622.13 11.69 429.35
CK High 2.06 11.21 411.992.20 11.76 431.92
CK Average 2.05 -0.6211.20 411.692.17 -0.6111.72 430.67
Essex Cty 2.05 11.20 411.622.20 11.76 431.92
Mdsx Low 2.00 11.15 409.782.15 11.71 430.09
Mdsx High 2.10 11.25 413.462.17 11.73 430.82
Mdsx Average 2.05 -0.6211.20 411.622.16 -0.6211.72 430.45
Hensall 2.03 11.18 410.702.15 11.71 430.09
Bruce 2.05 11.20 411.622.15 11.71 430.09
Putnam 2.00 11.15 409.782.15 11.71 430.09
Burford 2.10 11.25 413.462.17 11.73 430.82
Port Perry 2.06 11.21 411.992.13 11.69 429.35
Norfolk 2.05 11.20 411.622.20 11.76 431.92
Palmerston 2.05 11.20 411.622.35 11.91 437.43
Varna 2.05 11.20 411.622.25 11.81 433.76
Trenton 2.00 11.15 409.782.15 11.71 430.09
Winchester 2.00 11.15 409.782.15 11.71 430.09
North Gower 2.00 11.15 409.782.15 11.71 430.09
Huron FOB 2.15 11.30 415.302.25 11.81 433.76
Kent FOB 2.35 11.50 422.642.20 11.76 431.92
Lambton FOB 2.20 11.35 417.132.30 11.86 435.60
Middlesex FOB2.09 2.23 2.20 2.27 11.24 413.092.28 11.84 434.86
PROCESSORS
Windsor 2.68 N/A N/A N/A 11.83 434.772.54 12.10 444.42
TRANSFER
Hamilton 2.40 11.55 424.482.60 12.16 446.62
Prescott 2.05 11.20 411.622.35 11.91 437.43
Toledo El. -0.59 8.56 314.59-0.66 8.90 327.01
Exchange rate was 1.3125 up 0.0014
Chicago wheat closed slightly lower.
MAR19 HI 5.20 JUL19 HI 5.30 3/4
LOW 5.13 1/2 LOW 5.24 1/2
CLOSE 5.16 1/2 Down 1/4 CLOSE 5.27 Down 1
Minni wheat closed slightly lower.
MAR19 HI 5.74 1/4 SEP19 HI 5.91
LOW 5.67 3/4 LOW 5.85 1/2
CLOSE 5.70 Down 1 1/2 CLOSE 5.87 3/4 Down 1/2
GFO Cash Wheat Prices - DEL Terminal
Harvest 18 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.48 1.55 1.35 0.73
CAD $/bu 6.65 6.71 6.52 6.43
CAD $/tonne 244.27 246.68 239.44 236.31
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 1.25 N/A N/A N/A 1.15 N/A
London 1.41 1.27 1.21 N/A 1.42 1.29 1.16 N/A
Hensall 1.45 N/A 1.25 N/A 1.50 N/A 1.15 N/A
Trenton N/A N/A N/A N/A N/A N/A 1.15 N/A
Bruce 1.45 1.55 1.25 1.10 1.45 1.45 1.15 1.00
Essex N/A N/A 1.25 N/A N/A N/A 1.15 N/A
Norwich 1.45 N/A 1.25 N/A 1.50 N/A 1.15 N/A
Port Hope N/A N/A 1.25 N/A N/A 1.30 1.15 N/A
Kent Bridge 1.45 N/A 1.25 N/A 1.50 N/A 1.15 N/A
Chatham N/A N/A 1.25 N/A N/A N/A 1.20 N/A
Brigden N/A N/A 1.25 N/A N/A N/A 1.20 N/A
Palmerston N/A 1.60 1.25 1.10 N/A 1.50 1.15 1.00
Varna 1.45 1.55 1.25 N/A 1.45 1.45 1.15 N/A
Mitchell 1.45 1.25 1.25 N/A 1.50 1.30 1.15 N/A
Thornton N/A N/A N/A 0.69 N/A N/A N/A N/A
North Gower N/A 1.40 1.20 0.60 N/A 1.49 1.29 0.60
W O Feed 1.84
PROCESSORS
Toledo FM N/A N/A 1.81 N/A N/A N/A 1.77 N/A
Toledo El. 5.12US 6.71CA 5.12US 6.71CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 19 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.44 1.50 1.31 0.71
CAD $/bu 6.71 6.77 6.58 6.59
CAD $/tonne 246.53 248.94 241.72 242.08
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 482.82
DDG's FOB Srn & Aylm 170.00 - 180.00
---
Ontario Grain Market Commentary for January 30, 2019
By Marty Hibbs, Grain Farmers of Ontario
Futures Prices as of close, January 30, 2019
Commodity Period Price Weekly Movement
Corn CBOT Mar 3.81 ↑ 02 cents
Soybeans CBOT Mar 9.21 ↑ 05 cents
Wheat CBOT Mar 5.17 ↓ 09 cents
Wheat Minn. Mar 5.71 ↓ 04 cents
Wheat Kansas Mar 5.02 ↓ 13 cents
Oats CBOT Mar 2.82 ↓ 13 cents
Canadian $ Mar 0.7620 ↑ 1.25 points
Corn:
Corn continued to track sideways again this week and remains confined to a triangle channel. We are in a $3.60 - $3.80 range and may continue to track that way until we break above or below these two levels.
The intermediate indicators remain positive and a challenge of the $4 level seems imminent in the coming months but the primary trend remains down.
Soybeans:
Soybeans are starting to look positive as we received a daily buy signal this week. This, of course, is a daily signal meaning it can change quite rapidly. For the time being, we are in a positive formation with resistance at the $9.30 - $9.45 level on the March contract. A close above this level would be very positive for soybeans going forward. We are looking at an ascending triangle pattern which is usually a precursor to building momentum. Our first real test is a close above this $9.40 level which should set us up for a challenge of the more important $10.80 wall. A convincing close above there could finally turn this six-year-old bear into a full blown multi-year bull market that we have been anticipating.
Short-term indicators are now neutral while the primary trend remains down. The support line is at $9 on the March futures and resistance remains at the $9.40 level.
Wheat:
Wheat tracked sideways this week on the market and we are still seeing 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.
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/
Cash Grain prices as of the close, January 30, 2019 are as follows:
SWW @ $245.22/MT ($6.67/bu), HRW @ $247.66/MT ($6.74/bu),
HRS @ $237.91/MT ($6.47/bu), SRW @ $240.34/MT ($6.54/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>
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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