[Farmmarketnews] Wednesday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Nov 13 15:22:16 EST 2019
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, November 13
(All Bases in CAD)
Exchange rate was 1.3252 up 0.0026
Chicago corn closed slightly lower.
DEC19 HI 3.77 3/4 DEC20 HI 3.99 3/4
LOW 3.75 LOW 3.97 1/2
CLOSE3.75 1/4 Down 2 1/2 CLOSE 3.97 1/2 Down 2 1/2
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt U.S. $/bu $/mt Cntrct U.S. $/bu $/mt
ELEVATORS +MAR20+MAR20+MAR20
CK Low 1.30 5.05 198.91 0.90 4.88 191.92
CK High 1.35 5.10 200.88 0.95 4.93 193.89
CK Avg 1.31 0.07 5.06 199.24 0.91 -0.29 4.88 192.25
Essex Cty 1.30 5.05 198.91 0.90 4.88 191.92
Mdsx Low 1.30 5.05 198.91 0.90 4.88 191.92
Mdsx High 1.30 5.05 198.91 0.90 4.88 191.92
Mdsx Avg 1.30 0.06 5.05 198.91 0.90 -0.29 4.88 191.92
Hensall 1.33 5.08 199.89 0.93 4.90 192.90
Bruce 1.30 5.05 198.91 0.90 4.88 191.92
Putnam 1.30 5.05 198.91 0.90 4.88 191.92
Burford 1.30 5.05 198.91 0.90 4.88 191.92
Port Perry 1.35 5.10 200.88 0.90 4.88 191.92
Norfolk 1.30 5.05 198.91 0.90 4.88 191.92
Palmerston 1.35 5.10 200.88 0.89 4.87 191.53
Varna 1.30 5.05 198.91 0.90 4.88 191.92
Trenton 1.30 5.05 198.91 0.90 4.88 191.92
Winchester 1.43 5.18 204.03 1.12 5.10 200.58
North Gower 1.38 5.13 202.06 1.10 5.08 199.79
Huron FOB 1.30 5.05 198.91 0.95 4.93 193.89
Kent FOB 1.30 5.05 198.91 0.95 4.93 193.89
Lamb FOB 1.35 5.10 200.88 1.00 4.98 195.86
Mdsx FOB 1.30N/A N/A N/A 5.05 198.91 0.90 4.88 191.92
FOB SW Que 2.14 5.89 231.98N/A
Track 1.61 5.36 211.11N/A
PROCESSORS
Chat-Eth N/A N/A N/A N/A 1.17 5.15 202.55
Jhnstwn-Eth N/A N/A N/A N/A 1.42 5.40 212.39
Aylmer-Eth N/A N/A 1.55 1.60 1.15 5.13 201.76
Sarn-Eth N/A N/A 1.60 1.60 N/A
London-Ing N/A 1.70 1.75 1.75 1.25 5.23 205.70
Pt.Colb-Ing N/A N/A N/A N/A N/A
Cardnl-Ing 1.55 1.70N/A 1.75 5.30 208.75 1.30 5.28 207.67
W O Feed 1.76 5.51 216.82
US Rep 2.28 6.03 237.49
Toledo El. 0.40 4.15 163.38 -0.26 3.71 146.06
TRANSFER
Pt. Colb 1.60 5.35 210.72N/A
Prescott 1.55 5.30 208.75N/A
MID SD CRN 1.32 1/2 5.07 3/4
HI SD CRN 1.35 5.10 1/4
*Wet Bid
Exchange rate was 1.3252 up 0.0026
Chicago soybeans closed slightly lower.
JAN20 HI 9.21 1/2 NOV20 HI 9.59 3/4
LOW 9.13 1/2 LOW 9.53 3/4
CLOSE9.15 1/4 Down 1 3/4 CLOSE 9.55 1/4 Down 2
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt
ELEVATORS +JAN2+JAN2+MAR20
CK Low 2.15 11.30 415.302.10 11.65 428.16
CK High 2.20 11.35 417.132.20 11.75 431.83
CK Average 2.18 -0.6011.33 416.462.14 -0.7211.69 429.69
Essex Cty 2.20 11.35 417.132.20 11.75 431.83
Mdsx Low 2.15 11.30 415.302.10 11.65 428.16
Mdsx High 2.17 11.32 416.032.13 11.68 429.26
Mdsx Average 2.16 -0.6211.31 415.662.12 -0.7411.67 428.71
Hensall 2.15 11.30 415.302.10 11.65 428.16
Bruce 2.15 11.30 415.302.10 11.65 428.16
Putnam 2.15 11.30 415.302.10 11.65 428.16
Burford 2.24 11.39 418.602.20 11.75 431.83
Port Perry 2.19 11.34 416.772.15 11.70 429.99
Norfolk 2.20 11.35 417.132.20 11.75 431.83
Palmerston 2.08 11.23 412.722.09 11.64 427.79
Varna 2.15 11.30 415.302.10 11.65 428.16
Trenton 2.15 11.30 415.302.10 11.65 428.16
Winchester 2.27 11.42 419.712.27 11.82 434.40
North Gower 2.21 11.36 417.502.21 11.76 432.20
Huron FOB 2.25 11.40 418.972.20 11.75 431.83
Kent FOB 2.40 11.55 424.482.20 11.75 431.83
Lambton FOB 2.40 11.55 424.482.20 11.75 431.83
Middlesex FOB2.29 2.36 N/A N/A 11.44 420.442.23 11.78 432.93
PROCESSORS
Windsor 2.55 11.70 429.992.51 12.06 443.22
TRANSFER
Hamilton 2.75 11.90 437.342.65 12.20 448.37
Prescott 2.45 11.60 426.32 N/A
Port Colborne2.70 11.85 435.502.64 12.19 448.00
Toledo El. -0.27 8.89 326.56-0.46 9.09 333.96
Exchange rate was 1.3252 up 0.0026
Chicago wheat closed moderately lower.
DEC19 HI 5.16 3/4 JUL20 HI 5.29 3/4
LOW 5.06 1/2 LOW 5.20
CLOSE 5.09 Down 8 CLOSE 5.22 1/2 Down 7 3/4
Minni wheat closed slightly to moderately lower.
DEC19 HI 5.21 SEP20 HI 5.62
LOW 5.15 LOW 5.58 1/4
CLOSE 5.15 1/4 Down 6 1/2 CLOSE 5.58 3/4 Down 5 1/2
GFO Cash Wheat Prices - DEL Terminal
Harvest 19 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 2.12 2.32 1.99 1.28
CAD $/bu 7.21 7.41 7.08 6.43
CAD $/tonne 264.89 272.19 260.02 236.28
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 1.65 N/A N/A N/A 1.15 N/A
London 1.79 2.05 1.65 N/A 1.37 1.63 1.17 N/A
Hensall 1.70 N/A 1.65 N/A 1.35 N/A 1.15 N/A
Trenton N/A N/A N/A N/A N/A N/A 1.40 N/A
Bruce 1.70 2.05 1.65 1.50 1.35 1.55 1.15 1.05
Essex N/A N/A 1.65 N/A N/A N/A 1.15 N/A
Norwich 1.70 N/A 1.65 N/A 1.35 N/A 1.15 N/A
Port Hope N/A N/A 1.70 N/A N/A N/A 1.40 N/A
Kent Bridge 1.70 N/A 1.65 N/A 1.35 N/A 1.15 N/A
Chatham N/A N/A 1.65 N/A N/A N/A 1.15 N/A
Brigden N/A N/A 1.65 N/A N/A N/A 1.15 N/A
Palmerston N/A N/A 1.66 1.55 N/A N/A 1.14 0.97
Varna 1.75 2.05 1.65 N/A 1.35 1.55 1.15 N/A
Mitchell 1.70 1.90 1.65 N/A 1.35 1.55 1.15 N/A
Thornton N/A N/A N/A 1.67 N/A N/A N/A N/A
North Gower N/A 1.55 1.35 0.90 N/A 1.62 1.47 0.90
W O Feed 2.25
TERMINAL
Port Colbor 2.13 2.39 2.06 N/A N/A N/A 1.57 N/A
PROCESSORS
Toledo FM N/A N/A 2.12 N/A N/A N/A 1.70 N/A
Toledo El. 5.27US 6.98CA 5.23US 6.92CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 20 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.50 1.76 1.43 1.02
CAD $/bu 6.72 6.99 6.66 6.61
CAD $/tonne 246.99 256.72 244.55 242.73
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 478.74
DDG's FOB Srn & Aylm 205.00
---
Ontario Grain Market Commentary for November 13, 2019
By Todd Austin, Grain Farmers of Ontario
Wednesday, November 13, 2019
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT Dec 3.75¼ ↓ 3½ cents
Soybeans CBOT Jan 9.15¼ ↓ 12 cents
Wheat CBOT Dec 5.09 ↓ 7¾ cents
Wheat Minn. Dec 5.15¼ ↓ 8¼ cents
Wheat Kansas Dec 4.24¾ ↓ 2½ cents
Oats CBOT Dec 3.05½ ↓ 1½ cents
Canadian $ Dec 0.7545 ↓ 39 points
CORN:
The USDA released their November WASDE data on the 8th. The overall crop was estimated to be 13.661 billion bushels; this is a drop of 118 million bushels from their October estimates. The USDA adjusted the average yield down 1.4 bushels per acre to a value of 167 bushes per acre.
The USDA not only reduced the supply side of the corn ledger, they also cut demand by 100 million bushels. The net result is that ending stocks are estimated at 1.910 billion bushels; 19 million less than the October estimates.
As of this past Monday, US corn harvest is 66% complete. This was within trade estimates but continues to lag the five-year average pace. For this reporting period, the harvest is 19 percentage points off the average pace.
SOYBEANS:
Soybean production was forecast at 3.550 billion bushels, according to the USDA on their November report. This estimate was above trade estimates and in line with October’s report. The supply side of the US Soybean complex did not change from the October report.
On the demand side, domestic crush volume was lowered by 15 million bushels, increasing the carryout estimate to 475 million bushels. Last year the carry out was 913 million bushels.
Soybean harvest is 85% complete according to the weekly USDA update. The average pace for this time of the year is 92 per cent.
WHEAT:
The USDA has decreased the harvested acreage of wheat in its November Report, dropping production by 41 million bushels. Demand was reduced by 12 million bushels, resulting in a decrease in the carryout to 1.014 billion bushels. Last year the carry out was 1.08 billion bushels; another year of lower production yet increased carryout.
The US winter wheat condition report indicated 54% good to excellent. Ontario winter wheat plantings were good this year; estimates run from 800,000 acres to a million.
2019 cash prices for November 13, 2019, at the market close, are as follows:
SWW at $264.93/mt ($7.21/bu), HRW at $272.23/mt ($7.41/bu),
HRS at $236.32/mt ($6.43/bu), and SRW at $260.06/mt ($7.08/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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