[Farmmarketnews] Thursday Ontario Commodity Report & Todd Austin GFO Grain Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Thu Oct 17 15:36:37 EDT 2019
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, October 17
(All Bases in CAD)
Bank of Canada Noon exchange rate was 1.3128 down 0.0059
Chicago corn closed slightly higher.
DEC19 HI 3.97 1/4 DEC20 HI 4.11 1/4
LOW 3.91 1/2 LOW 4.08 1/4
CLOSE3.94 3/4 Up 3 CLOSE 4.10 3/4 Up 2 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 1.25 5.20 204.62 0.90 5.01 197.14
CK High 1.25 5.20 204.62 0.90 5.01 197.14
CK Avg 1.25 0.01 5.20 204.62 0.90 -0.29 5.01 197.14
Essex Cty 1.25 5.20 204.62 0.90 5.01 197.14
Mdsx Low 1.25 5.20 204.62 0.90 5.01 197.14
Mdsx High 1.25 5.20 204.62 0.90 5.01 197.14
Mdsx Avg 1.25 0.01 5.20 204.62 0.90 -0.29 5.01 197.14
Hensall 1.28 5.22 205.60 0.90 5.01 197.14
Bruce 1.25 5.20 204.62 0.90 5.01 197.14
Putnam 1.25 5.20 204.62 0.90 5.01 197.14
Burford 1.25 5.20 204.62 0.90 5.01 197.14
Port Perry 1.35 5.30 208.55 0.90 5.01 197.14
Norfolk 1.25 5.20 204.62 0.90 5.01 197.14
Palmerston 1.18 5.13 201.86 0.85 4.96 195.17
Varna 1.25 5.20 204.62 0.85 4.96 195.17
Trenton 1.30 5.25 206.58 0.85 4.96 195.17
Winchester 1.40 5.35 210.52 1.10 5.21 205.01
North Gower 1.40 5.35 210.52 1.10 5.21 205.01
Huron FOB 1.35 5.30 208.55 0.90 5.01 197.14
Kent FOB 1.30 5.25 206.58 0.95 5.06 199.10
Lamb FOB 1.35 5.30 208.55 1.05 5.16 203.04
Mdsx FOB 1.25 1.25 1.40 1.45 5.20 204.62 1.00 5.11 201.07
FOB SW Que 2.42 6.37 250.68N/A
Track 1.93 5.87 231.19N/A
PROCESSORS
Chat-Eth N/A N/A N/A N/A 1.20 5.31 208.95
Jhnstwn-Eth N/A N/A N/A N/A 1.39 5.50 216.43
Aylmer-Eth N/A N/A 1.50 1.55 1.20 5.31 208.95
Sarn-Eth 1.40 1.40N/A N/A 5.35 210.52N/A
London-Ing N/A N/A 1.70 1.70 1.25 5.36 210.92
Pt.Colb-Ing N/A N/A N/A N/A N/A*
Cardnl-Ing 1.95N/A 1.70N/A 5.90 232.17 1.30 5.41 212.88
W O Feed 2.44 6.39 251.54
US Rep 2.22 6.17 242.80
Toledo El. 0.33 4.28 168.33 -0.26 3.84 151.37
TRANSFER
Pt. Colb 1.50 5.45 214.46N/A
Prescott 1.60 5.55 218.40N/A
MID SD CRN 1.25 5.19 3/4
HI SD CRN 1.25 5.19 3/4
*Wet Bid
Exchange rate was 1.3128 down 0.0059
Chicago soybeans closed narrowly mixed.
NOV19 HI 9.40 3/4 NOV20 HI 9.76 1/4
LOW 9.27 1/4 LOW 9.69 1/4
CLOSE9.31 1/2 Up 3 1/2 CLOSE 9.70 1/2 Up 1/2
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt
ELEVATORS +NOV1+JAN2+JAN20
CK Low 2.13 11.45 420.532.02 11.73 430.82
CK High 2.20 11.52 423.102.10 11.81 433.76
CK Average 2.16 -0.5811.47 421.452.08 -0.7311.78 432.96
Essex Cty 2.15 11.47 421.272.10 11.81 433.76
Mdsx Low 2.11 11.43 419.802.00 11.71 430.09
Mdsx High 2.15 11.47 421.272.10 11.81 433.76
Mdsx Average 2.13 -0.6011.45 420.532.05 -0.7511.76 431.92
Hensall 2.15 11.47 421.272.10 11.81 433.76
Bruce 2.15 11.47 421.272.10 11.81 433.76
Putnam 2.15 11.47 421.272.10 11.81 433.76
Burford 2.18 11.50 422.372.07 11.78 432.66
Port Perry 2.13 11.45 420.532.02 11.73 430.82
Norfolk 2.15 11.47 421.272.10 11.81 433.76
Palmerston 2.10 11.42 419.432.12 11.83 434.49
Varna 2.15 11.47 421.272.10 11.81 433.76
Trenton 2.20 11.52 423.102.10 11.81 433.76
Winchester 2.25 11.57 424.942.20 11.91 437.43
North Gower 2.28 11.60 426.042.20 11.91 437.43
Huron FOB 2.20 11.52 423.102.20 11.91 437.43
Kent FOB 2.15 11.47 421.272.10 11.81 433.76
Lambton FOB 2.30 11.62 426.782.20 11.91 437.43
Middlesex FOB2.29 2.29 N/A N/A 11.61 426.412.09 11.80 433.39
PROCESSORS
Windsor 2.49 11.81 433.762.49 12.20 448.09
TRANSFER
Hamilton 2.60 11.92 437.802.55 12.26 450.29
Prescott 2.51 11.83 434.49 N/A
Port Colborne2.62 11.94 438.54 N/A
Toledo El. -0.33 8.99 330.21-0.46 9.25 339.72
Exchange rate was 1.3128 down 0.0059
Chicago wheat closed moderately higher to higher.
DEC19 HI 5.27 JUL20 HI 5.37 1/2
LOW 5.12 3/4 LOW 5.25
CLOSE 5.25 1/2 Up 12 1/4 CLOSE 5.36 Up 9 3/4
Minni wheat closed narrowly mixed.
DEC19 HI 5.58 SEP20 HI 5.92
LOW 5.48 1/2 LOW 5.83
CLOSE 5.52 Up 1 1/2 CLOSE 5.86 Down 1/2
GFO Cash Wheat Prices - DEL Terminal
Harvest 19 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 2.10 2.30 1.97 1.33
CAD $/bu 7.36 7.55 7.23 6.85
CAD $/tonne 270.36 277.60 265.54 251.79
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 1.76 2.02 1.63 N/A 1.34 1.54 1.21 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 2.00 1.60 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 1.65 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 1.64 1.36 N/A N/A 1.28 1.02
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 1.45 N/A N/A N/A N/A
North Gower N/A 1.90 1.68 1.05 N/A 1.81 1.54 1.00
W O Feed 2.26
TERMINAL
Port Colbor 2.10 2.37 2.04 N/A N/A N/A N/A N/A
PROCESSORS
Toledo FM N/A N/A 2.23 N/A N/A N/A 1.68 N/A
Toledo El. 5.44US 7.13CA 5.36US 7.04CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 20 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.61 1.87 1.54 1.04
CAD $/bu 6.97 7.23 6.90 6.90
CAD $/tonne 256.08 265.73 253.67 253.67
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 520.08
DDG's FOB Srn & Aylm 225.00
Wednesday, October 16, 2019
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT Dec 3. 93¾ ↓ ½ cent
Soybeans CBOT Nov 9.39½ ↑ 15¾ cents
Wheat CBOT Dec 5.07¾ ↑ 7½ cents
Wheat Minn. Dec 5.47¼ ↑ 5 cents
Wheat Kansas Dec 4.22¾ ↑ 9¼ cents
Oats CBOT Dec 2.95½ ↑ 11 cents
Canadian $ Dec 0.75055 ↑ 76 points
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
CORN:
The US Corn harvest continues and currently sits at 22% complete, up from 15% last week, but still below the five-year average of 36 percent.
Brazilian corn harvest was a record 100 million tonnes in the 2018-2019 crop year. As a result, their exports have increased as well, and has been forecast to export 38 million tonnes.
In the October WASDE report, the USDA estimates the corn crop to be 13.8 billion bushels, based on their harvested acreage of 81.8 million and an average yield of 168.4 bushels per acre. The expected carryout is estimated at 1.93 billion bushels.
SOYBEANS:
NOPA crush for September was 152.6 million bushels; trade estimates were 115.7 - 166.9 million bushels. August crush figures were 168.1 million bushels. While September tends to have slowdowns, this number was larger than expected.
The USDA estimates soybean production at 3.55 billion bushels, based on harvested acres of 75.6 million and an average yield of 46.9 bushels per acre. New crop ending stocks were estimated at 460 million bushels, down from last month’s estimate, due in part, to lower old crop soybean stocks.
WHEAT:
The USDA report showed all wheat production at 1.96 billion bushels, down 19 million bushels from last month. Demand estimates were also lowered such that ending stocks climbed 29 million bushels to 1.043 billion bushels.
Winter Wheat planting in the US has continued with 52% of the total expected crop planted. This compares well to the five-year average of 53 percent. At this point, just over a quarter of the planted crop has emerged.
2019 cash prices for October 16, 2019, at the market close, are as follows:
SWW at $265.72 /mt ($7.23/bu), HRW at $273.10/mt ($7.43/bu),
HRS at $252.98/mt ($6.89/bu), and SRW at $260.97/mt ($7.10/bu).
We currently offer 2020 and 2021 harvest prices as well, please call
1-800-265-0550 for more information.
Todd Austin, Grain Farmers of Ontario
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