[Farmmarketnews] Wednesday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Mar 20 15:14:39 EDT 2019
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, March 20
(All Bases in CAD)
Exchange rate was 1.3239 down 0.0039
Chicago corn closed slightly higher.
MAY19 HI 3.72 1/2 DEC19 HI 3.96
LOW 3.68 3/4 LOW 3.93
CLOSE3.71 1/2 Up 1/4 CLOSE 3.95 1/2 Up 1/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt U.S. $/bu $/mt Cntrct U.S. $/bu $/mt
ELEVATORS +MAY19+JUL19+JUL19
CK Low 0.95 4.67 183.65 0.85 4.81 189.16
CK High 0.95 4.67 183.65 0.90 4.86 191.13
CK Avg 0.95 -0.19 4.67 183.65 0.87 -0.31 4.82 189.82
Essex Cty 0.95 4.67 183.65 0.85 4.81 189.16
Mdsx Low 0.95 4.67 183.65 0.85 4.81 189.16
Mdsx High 0.95 4.67 183.65 0.85 4.81 189.16
Mdsx Avg 0.95 -0.19 4.67 183.65 0.85 -0.33 4.81 189.16
Hensall 0.95 4.67 183.65 0.85 4.81 189.16
Bruce 0.95 4.67 183.65 0.85 4.81 189.16
Putnam 0.95 4.67 183.65 0.85 4.81 189.16
Burford 0.95 4.67 183.65 0.85 4.81 189.16
Port Perry 0.90 4.62 181.68 0.85 4.81 189.16
Norfolk 0.95 4.67 183.65 0.85 4.81 189.16
Palmerston 0.90 4.62 181.68 0.80 4.76 187.20
Varna 0.95 4.67 183.65 0.85 4.81 189.16
Trenton 0.95 4.67 183.65 0.85 4.81 189.16
Winchester 1.05 4.77 187.59 1.15 5.11 200.97
North Gower 1.05 4.77 187.59 1.13 5.09 200.19
Huron FOB 1.20 4.92 193.49 0.90 4.86 191.13
Kent FOB 1.25 4.97 195.46 0.90 4.86 191.13
Lamb FOB 1.25 4.97 195.46 0.90 4.86 191.13
Mdsx FOB 1.25N/A N/A N/A 4.97 195.46 0.95 4.91 193.10
FOB SW Que 1.76 5.48 215.54 1.33 5.29 208.06
Track 1.40 5.12 201.37N/A
PROCESSORS
Chat-Eth N/A N/A N/A N/A 1.14 5.10 200.58
Jhnstwn-Eth N/A N/A N/A N/A 1.27 5.23 205.70
Aylmer-Eth N/A 1.54 1.51 1.54 1.15 5.11 200.97
Sarn-Eth 1.35 1.40N/A N/A 5.07 199.40N/A
Kawartha N/A N/A N/A N/A N/A
London-Ing N/A N/A N/A N/A 1.15 5.11 200.97
Pt.Colb-Ing N/A N/A N/A N/A N/A
Cardnl-Ing N/A N/A N/A 1.55 1.30 5.26 206.88
W O Feed 1.59 5.30 208.69
US Rep 1.83 5.55 218.30
Toledo El. -0.11 3.61 142.08 -0.26 3.69 145.28
TRANSFER
Port ColbornN/A 1.15 5.11201
MID SD CRN 0.95 4.66 1/2
HI SD CRN 0.95 4.66 1/2
*Wet Bid
Exchange rate was 1.3239 down 0.0039
Chicago soybeans closed slightly higher.
MAY19 HI 9.06 1/2 NOV19 HI 9.40 3/4
LOW 8.99 1/4 LOW 9.34 1/4
CLOSE9.06 Up 2 CLOSE 9.40 1/4 Up 2
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt
ELEVATORS +MAY1+MAY1+JUL19
CK Low 2.08 11.14 409.322.15 11.55 424.48
CK High 2.15 11.21 411.902.30 11.70 429.99
CK Average 2.11 -0.6211.17 410.552.18 -0.6511.59 425.71
Essex Cty 2.15 11.21 411.902.15 11.55 424.48
Mdsx Low 2.10 11.16 410.062.15 11.55 424.48
Mdsx High 2.12 11.18 410.792.19 11.59 425.95
Mdsx Average 2.11 -0.6211.17 410.432.17 -0.6611.57 425.22
Hensall 2.10 11.16 410.062.15 11.55 424.48
Bruce 2.10 11.16 410.062.15 11.55 424.48
Putnam 2.10 11.16 410.062.15 11.55 424.48
Burford 2.12 11.18 410.792.19 11.59 425.95
Port Perry 2.08 11.14 409.322.15 11.55 424.48
Norfolk 2.10 11.16 410.062.15 11.55 424.48
Palmerston 2.10 11.16 410.062.25 11.65 428.16
Varna 2.10 11.16 410.062.15 11.55 424.48
Trenton 2.15 11.21 411.902.25 11.65 428.16
Winchester 2.15 11.21 411.902.25 11.65 428.16
North Gower 2.07 11.13 408.962.39 11.79 433.30
Huron FOB 2.25 11.31 415.572.25 11.65 428.16
Kent FOB 2.30 11.36 417.412.15 11.55 424.48
Lambton FOB 2.35 11.41 419.252.30 11.70 429.99
Middlesex FOB2.23 2.30 2.36 2.39 11.29 414.842.28 11.68 429.26
PROCESSORS
Windsor 2.69 11.75 431.742.54 11.94 438.81
TRANSFER
Hamilton 2.55 11.61 426.592.60 12.00 441.02
Prescott N/A 2.65 12.05 442.85
Port Colborne N/A 2.63 12.03 442.12
Toledo El. -0.56 8.50 312.47-0.66 8.74 321.16
Exchange rate was 1.3239 down 0.0039
Chicago wheat closed moderately higher.
MAY19 HI 4.65 JUL19 HI 4.70 1/2
LOW 4.54 3/4 LOW 4.61
CLOSE 4.64 3/4 Up 8 1/4 CLOSE 4.70 Up 7 1/4
Minni wheat closed slightly to moderately higher.
MAY19 HI 5.73 1/2 SEP19 HI 5.75
LOW 5.64 LOW 5.67 1/2
CLOSE 5.71 1/2 Up 6 1/4 CLOSE 5.73 1/2 Up 5 1/4
GFO Cash Wheat Prices - DEL Terminal
Harvest 18 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.51 1.57 1.37 0.92
CAD $/bu 6.15 6.22 6.02 6.64
CAD $/tonne 226.08 228.51 221.21 243.95
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 1.15 N/A N/A N/A 1.15 N/A
London 1.31 1.64 1.18 N/A 1.37 1.57 1.17 N/A
Hensall 1.30 N/A 1.15 N/A 1.40 N/A 1.15 N/A
Trenton N/A N/A N/A N/A N/A N/A 1.20 N/A
Bruce 1.25 1.65 1.15 N/A 1.40 1.55 1.15 1.00
Essex N/A N/A 1.15 N/A N/A N/A 1.15 N/A
Norwich 1.30 N/A 1.15 N/A 1.40 N/A 1.15 N/A
Port Hope N/A N/A 1.25 N/A N/A 1.30 1.20 N/A
Kent Bridge 1.30 N/A 1.15 N/A 1.40 N/A 1.15 N/A
Chatham N/A N/A 1.15 N/A N/A N/A 1.15 N/A
Brigden N/A N/A 1.15 N/A N/A N/A 1.15 N/A
Palmerston N/A 1.65 1.10 1.10 N/A 1.53 1.08 1.00
Varna 1.25 1.65 1.15 N/A 1.40 1.55 1.15 N/A
Mitchell 1.30 1.30 1.15 N/A 1.40 1.40 1.15 N/A
Thornton N/A N/A N/A 0.64 N/A N/A N/A N/A
North Gower N/A 1.45 1.31 0.65 N/A 1.66 1.47 0.82
W O Feed 1.69
TERMINAL
Port Colbor N/A N/A N/A N/A 1.73 1.93 1.53 N/A
PROCESSORS
Toledo FM N/A N/A 1.70 N/A N/A N/A 1.65 N/A
Toledo El. 4.60US 6.09CA 4.55US 6.02CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 19 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.59 1.92 1.46 0.86
CAD $/bu 6.29 6.62 6.16 6.60
CAD $/tonne 231.06 243.22 226.20 242.49
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 477.97
DDG's FOB Srn & Aylm 180.00 - 205.00
---
Ontario Grain Market Commentary for March 20, 2019
By Marty Hibbs, Grain Farmers of Ontario
Futures Prices as of close, March 20, 2019
Commodity Period Price Weekly Movement
Corn CBOT May 3.71 ↑ 05 cents
Soybeans CBOT May 9.06 ↑ 05 cents
Wheat CBOT May 4.64 ↑ 16 cents
Wheat Minn. May 5.70 ↑ 20 cents
Wheat Kansas May 4.52 ↑ 15 cents
Oats CBOT May 2.75 ↑ 06 cents
Canadian $ Jun 0.7558 ↑ 0.55 points
Corn:
Corn continues in a sideways but supportive range. The charts suggest that May futures contracts continue to trade between the $3.60 - $3.75 trading range. We closed the day at $3.71 and should move back towards the $3.55 level in the coming week. A close above the $3.70 level on May suggests a move into the next resistance bracket at $3.70 - $3.80 for our next target range. The intermediate indicators are neutral, and the primary trend remains down.
Soybeans:
The May soybean contract traded much the same as the past couple of months with the $9 floor and $9.50 overhead resistance. The longer we stay in this area, the better chance we have of establishing a bottom. It is important that we stay above the $9 area on the close. To review, short-term indicators are negative, while the intermediate indicators are neutral, and the primary or long-term trend remains down as it has been since 2013. The support line is still around $9 on the May futures and overhead resistance is near the $9.50 level.
Wheat:
Our $4.25 price print on the March contract is looking very good this week as we closed today at $4.65. This is the rebound that I was looking for after the blow-out from March 11. I don’t expect a complete reversal from the $4.25 level but there is a good chance we could see $4.75 - $5 before we get a pullback. May support is still now seen at the $4.25 level on the futures and our overhead challenge is still to clear this $4.65 level on a close. Once we achieve this we should be ready to challenge the $4.75 target. Indicators are still mixed as the short-term indicators are still negative since February 15 of this year. The intermediate indicators remain neutral and the long term or primary indicators are still neutral to bullish.
Cash Grain prices as of the close, March 20, 2019 are as follows:
SWW @ $226.06/MT ($6.15/bu), HRW @ $225.49/MT ($6.22/bu),
HRS @ $243.08/MT ($6.62/bu), SRW @ $221.20/MT ($6.02/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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Grain Farmers of Ontario
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