[Farmmarketnews] Wednesday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Oct 9 15:23:45 EDT 2019
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, October 9
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.3324 up 0.0008
Chicago corn closed slightly lower.
DEC19 HI 3.97 1/4 DEC20 HI 4.09 3/4
LOW 3.93 LOW 4.07 3/4
CLOSE3.94 1/4 Down 1 1/2 CLOSE 4.08 3/4 Down 1/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt U.S. $/bu $/mt Cntrct U.S. $/bu $/mt
ELEVATORS +DEC19+MAR20+MAR20
CK Low 1.20 5.14 202.45 0.90 4.99 196.35
CK High 1.25 5.19 204.42 0.90 4.99 196.35
CK Avg 1.24 -0.05 5.18 204.09 0.90 -0.34 4.99 196.35
Essex Cty 1.25 5.19 204.42 0.90 4.99 196.35
Mdsx Low 1.25 5.19 204.42 0.90 4.99 196.35
Mdsx High 1.25 5.19 204.42 0.90 4.99 196.35
Mdsx Avg 1.25 -0.05 5.19 204.42 0.90 -0.34 4.99 196.35
Hensall 1.28 5.22 205.40 0.90 4.99 196.35
Bruce 1.25 5.19 204.42 0.85 4.94 194.38
Putnam 1.25 5.19 204.42 0.90 4.99 196.35
Burford 1.25 5.19 204.42 0.90 4.99 196.35
Port Perry 1.35 5.29 208.36 0.90 4.99 196.35
Norfolk 1.25 5.19 204.42 0.90 4.99 196.35
Palmerston 1.25 5.19 204.42 0.89 4.98 195.96
Varna 1.25 5.19 204.42 0.85 4.94 194.38
Trenton 1.30 5.24 206.39 0.85 4.94 194.38
Winchester 1.40 5.34 210.32 1.10 5.19 204.22
North Gower 1.40 5.34 210.32 1.10 5.19 204.22
Huron FOB 1.35 5.29 208.36 0.90 4.99 196.35
Kent FOB 1.25 5.19 204.42 0.90 4.99 196.35
Lamb FOB 1.35 5.29 208.36 1.00 5.09 200.29
Mdsx FOB 1.25 1.25N/A N/A 5.19 204.42N/A
FOB SW Que 2.40 6.34 249.69N/A
Track 1.93 5.87 230.99N/A
PROCESSORS
Chat-Eth N/A N/A 1.62N/A 1.29 5.38 211.70
Jhnstwn-Eth N/A N/A N/A N/A 1.42 5.51 216.82
Aylmer-Eth 1.80N/A 1.50 1.55 5.74 226.07 1.20 5.29 208.16
Sarn-Eth 1.40 1.40N/A N/A 5.34 210.32N/A
London-Ing N/A N/A 1.70 1.70 1.25 5.34 210.13
Pt.Colb-Ing N/A N/A N/A N/A N/A*
Cardnl-Ing 1.95N/A 1.70N/A 5.89 231.98 1.30 5.39 212.10
W O Feed 2.50 6.44 253.71
US Rep 2.07 6.01 236.70
Toledo El. 0.33 4.28 168.32 -0.27 3.82 150.43
TRANSFER
Pt. Colb 1.50 5.44 214.26N/A
Prescott 1.55 5.49 216.23N/A
MID SD CRN 1.22 1/2 5.16 3/4
HI SD CRN 1.25 5.19 1/4
*Wet Bid
Exchange rate was 1.3324 up 0.0008
Chicago soybeans closed slightly higher.
NOV19 HI 9.31 1/2 NOV20 HI 9.74
LOW 9.18 1/4 LOW 9.64 3/4
CLOSE9.23 3/4 Up 3 1/4 CLOSE 9.69 3/4 Up 2 1/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt
ELEVATORS +NOV1+JAN2+JAN20
CK Low 2.29 11.53 423.562.00 11.70 429.81
CK High 2.30 11.54 423.932.16 11.86 435.69
CK Average 2.30 -0.5811.54 423.872.13 -0.8211.82 434.46
Essex Cty 2.30 11.54 423.932.15 11.85 435.32
Mdsx Low 2.26 11.50 422.462.13 11.83 434.59
Mdsx High 2.30 11.54 423.932.15 11.85 435.32
Mdsx Average 2.28 -0.5911.52 423.202.14 -0.8111.84 434.95
Hensall 2.30 11.54 423.932.15 11.85 435.32
Bruce 2.30 11.54 423.932.15 11.85 435.32
Putnam 2.30 11.54 423.932.15 11.85 435.32
Burford 2.33 11.57 425.032.20 11.90 437.16
Port Perry 2.29 11.53 423.562.16 11.86 435.69
Norfolk 2.30 11.54 423.932.15 11.85 435.32
Palmerston 2.34 11.58 425.402.08 11.78 432.75
Varna 2.30 11.54 423.932.15 11.85 435.32
Trenton 2.30 11.54 423.932.15 11.85 435.32
Winchester 2.30 11.54 423.932.30 12.00 440.83
North Gower 2.26 11.50 422.462.26 11.96 439.36
Huron FOB 2.40 11.64 427.602.25 11.95 439.00
Kent FOB 2.30 11.54 423.932.15 11.85 435.32
Lambton FOB 2.25 11.49 422.092.25 11.95 439.00
Middlesex FOB2.32 2.32 N/A N/A 11.56 424.672.25 11.95 439.00
PROCESSORS
Windsor 2.61 11.85 435.322.63 12.33 452.96
TRANSFER
Hamilton 2.75 11.99 440.472.50 12.20 448.18
Prescott 2.45 11.69 429.44 N/A
Port Colborne2.73 11.97 439.73 N/A
Toledo El. -0.36 8.88 326.20-0.47 9.23 339.20
Exchange rate was 1.3324 up 0.0008
Chicago wheat closed narrowly mixed.
DEC19 HI 5.04 1/2 JUL20 HI 5.19 1/4
LOW 4.97 1/4 LOW 5.13
CLOSE 5.00 1/4 Unchanged CLOSE 5.16 1/4 Down 1/4
Minni wheat closed slightly lower.
DEC19 HI 5.48 SEP20 HI 5.86 1/2
LOW 5.41 1/4 LOW 5.79 1/2
CLOSE 5.41 3/4 Down 1 3/4 CLOSE 5.80 1/4 Down 2 1/2
GFO Cash Wheat Prices - DEL Terminal
Harvest 19 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 2.13 2.33 2.00 1.40
CAD $/bu 7.13 7.33 7.00 6.82
CAD $/tonne 262.04 269.38 257.14 250.53
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 1.20 N/A
London 1.77 2.03 1.64 N/A 1.36 1.56 1.22 N/A
Hensall 1.75 N/A 1.65 N/A 1.40 N/A 1.20 N/A
Trenton N/A N/A 1.65 N/A N/A N/A 1.30 N/A
Bruce 1.75 2.05 1.65 1.50 1.40 1.60 1.20 1.05
Essex N/A N/A 1.60 N/A N/A N/A 1.20 N/A
Norwich 1.75 N/A 1.65 N/A 1.40 N/A 1.20 N/A
Port Hope N/A N/A 1.70 N/A N/A N/A 1.30 N/A
Kent Bridge 1.75 N/A 1.65 N/A 1.40 N/A 1.20 N/A
Chatham N/A N/A 1.60 N/A N/A N/A 1.20 N/A
Brigden N/A N/A 1.60 N/A N/A N/A 1.20 N/A
Palmerston N/A N/A 1.67 1.41 N/A N/A 1.33 1.07
Varna 1.75 2.05 1.65 N/A 1.40 1.60 1.20 N/A
Mitchell 1.75 1.95 1.65 N/A 1.40 1.60 1.20 N/A
Thornton N/A N/A N/A 1.30 N/A N/A N/A N/A
North Gower N/A 2.00 1.70 1.15 N/A 1.83 1.48 1.00
W O Feed 2.30
TERMINAL
Port Colbor 2.11 2.38 2.04 N/A N/A N/A N/A N/A
PROCESSORS
Toledo FM N/A N/A 2.26 N/A N/A N/A 1.71 N/A
Toledo El. 5.18US 6.90CA 5.16US 6.87CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 20 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.65 1.91 1.58 1.12
CAD $/bu 6.81 7.07 6.74 6.93
CAD $/tonne 250.14 259.92 247.69 254.54
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 523.28
DDG's FOB Srn & Aylm 220.00 - 230.00
---
Ontario Grain Market Commentary for October 9, 2019
By Todd Austin, Grain Farmers of Ontario
Wednesday, October 9, 2019
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT Dec 3. 94¼ ↑ 6½ cents
Soybeans CBOT Nov 9.23¾ ↑ 10 cents
Wheat CBOT Dec 5.00¼ ↑ 11¼ cents
Wheat Minn. Dec 5.42¼ ↑ 12¾ cents
Wheat Kansas Dec 4.13¼ ↑ 7½ cents
Oats CBOT Dec 2.84½ ↑ 1¾ cents
Canadian $ Dec 0.75055 ↓ 10 points
CORN:
Both Informa and INTL FCStone have recently released their updated yield expectations for the US Corn crop. Informa’s yield estimate is 167.5 bushels per acre, while INTL FCStone is estimating 169.3 bushels per acre. The previous USDA estimate for corn was 168.2 bushels per acre. There will be a USDA World Agricultural Supply and Demand Estimate report on October 10, and it will be interesting to see if the USDA has adjusted their yield expectations for corn.
Corn harvest is 15 per cent complete versus a five-year average of 27% complete. Corn dent stage is 93 per cent and the crop considered as mature is 58 per cent, versus an 85% five-year average.
SOYBEANS:
Informa has released their soybean yield expectations. They are estimating final yield to be 46.5 bushels per acre. The USDA’s previous estimate for soybean yield was 47.9 bushels per acre.
Approximately 14 per cent of the US soy crop has been harvested to date, well below the five-year average of 34 per cent.
In Argentina, soybean production is forecast at 53 million tonnes, while exports have been reduced due to decreased global demand. In 2019-20, domestic crushers are forecast to process 44 million tonnes of beans in this area.
Meanwhile, in Brazil, the agribusiness consultancy AGRural has indicated the slowest start to the soybean planting season in six years, due in part to a dry season.
WHEAT:
Egypt’s GASC has purchased 180,000 tonnes of Russian wheat and 115,000 tonnes of Ukrainian wheat in their latest tender. The purchase value is estimated at $221 C&F.
French soft wheat production is pegged at 39.7 million tonnes, up 17% from the previous year. France estimates that soft wheat exports, outside of the EU, to be 11.7 million tonnes.
The USDA is reporting Australian wheat production at 18 million tonnes, due in part to dry conditions in that country. This estimate is well below their long-term average production.
2019 cash prices for October 9, 2019, at the market close, are as follows:
SWW at $262.05 /mt ($7.13/bu), HRW at $269.39/mt ($7.33/bu),
HRS at $250.78/mt ($6.83/bu), and SRW at $257.15/mt ($7.00/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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