[Farmmarketnews] Wednesday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Oct 30 15:24:10 EDT 2019
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, October 30
(All Bases in CAD)
Exchange rate was 1.3197 up 0.0111
Chicago corn closed slightly to moderately higher.
DEC19 HI 3.91 1/4 DEC20 HI 4.07
LOW 3.85 1/4 LOW 4.05 1/2
CLOSE3.90 3/4 Up 4 1/2 CLOSE 4.06 3/4 Up 1/2
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 5.16 203.04 0.90 4.97 195.56
CK High 1.25 5.16 203.04 0.90 4.97 195.56
CK Avg 1.25 0.00 5.16 203.04 0.90 -0.30 4.97 195.56
Essex Cty 1.25 5.16 203.04 0.90 4.97 195.56
Mdsx Low 1.25 5.16 203.04 0.90 4.97 195.56
Mdsx High 1.25 5.16 203.04 0.90 4.97 195.56
Mdsx Avg 1.25 0.00 5.16 203.04 0.90 -0.30 4.97 195.56
Hensall 1.28 5.18 204.03 0.90 4.97 195.56
Bruce 1.25 5.16 203.04 0.90 4.97 195.56
Putnam 1.25 5.16 203.04 0.90 4.97 195.56
Burford 1.25 5.16 203.04 0.90 4.97 195.56
Port Perry 1.35 5.26 206.98 0.90 4.97 195.56
Norfolk 1.25 5.16 203.04 0.90 4.97 195.56
Palmerston 1.35 5.26 206.98 0.89 4.96 195.17
Varna 1.25 5.16 203.04 0.90 4.97 195.56
Trenton 1.30 5.21 205.01 0.90 4.97 195.56
Winchester 1.40 5.31 208.95 1.10 5.17 203.44
North Gower 1.35 5.26 206.98 1.05 5.12 201.47
Huron FOB 1.30 5.21 205.01 0.95 5.02 197.53
Kent FOB 1.28 5.19 204.22 0.95 5.02 197.53
Lamb FOB 1.30 5.21 205.01 1.05 5.12 201.47
Mdsx FOB 1.25 1.30 1.40 1.45 5.16 203.04 1.00 5.07 199.50
FOB SW Que 1.94 5.85 230.21N/A
Track 1.62 5.53 217.61N/A
PROCESSORS
Chat-Eth N/A N/A 1.55N/A 1.14 5.21 205.01
Jhnstwn-Eth N/A N/A N/A N/A 1.39 5.46 214.85
Aylmer-Eth N/A N/A N/A 1.50 1.15 5.22 205.40
Sarn-Eth N/A N/A N/A N/A N/A
London-Ing N/A N/A 1.70 1.70 1.25 5.32 209.34
Pt.Colb-Ing N/A 1.60N/A N/A N/A
Cardnl-Ing 1.95 1.55 1.70N/A 5.86 230.60 1.30 5.37 211.31
W O Feed 1.84 5.75 226.27
US Rep 2.17 6.08 239.26
Toledo El. 0.40 4.30 169.42 -0.26 3.80 149.76
TRANSFER
Pt. Colb 1.50 5.41 212.88N/A
Prescott 1.55 5.46 214.85N/A
MID SD CRN 1.25 5.15 3/4
HI SD CRN 1.25 5.15 3/4
*Wet Bid
Exchange rate was 1.3197 up 0.0111
Chicago soybeans closed slightly lower.
NOV19 HI 9.21 1/2 NOV20 HI 9.73 1/4
LOW 9.15 1/4 LOW 9.68
CLOSE9.16 Down 2 1/4 CLOSE 9.68 1/2 Down 2 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 2.05 11.21 411.902.09 11.78 432.66
CK High 2.10 11.26 413.732.10 11.79 433.02
CK Average 2.09 -0.6311.25 413.432.10 -0.7411.78 432.96
Essex Cty 2.10 11.26 413.732.10 11.79 433.02
Mdsx Low 2.03 11.19 411.162.07 11.76 431.92
Mdsx High 2.10 11.26 413.732.10 11.79 433.02
Mdsx Average 2.07 -0.6511.23 412.452.09 -0.7511.77 432.47
Hensall 2.08 11.24 412.822.08 11.76 432.11
Bruce 2.15 11.31 415.572.05 11.74 431.19
Putnam 2.10 11.26 413.732.10 11.79 433.02
Burford 2.10 11.26 413.732.14 11.83 434.49
Port Perry 2.05 11.21 411.902.09 11.78 432.66
Norfolk 2.10 11.26 413.732.10 11.79 433.02
Palmerston 2.17 11.33 416.312.14 11.83 434.49
Varna 2.15 11.31 415.572.10 11.79 433.02
Trenton 2.05 11.21 411.902.05 11.74 431.19
Winchester 2.10 11.26 413.732.05 11.74 431.19
North Gower 2.15 11.31 415.572.05 11.74 431.19
Huron FOB 2.25 11.41 419.252.20 11.89 436.70
Kent FOB 2.10 11.26 413.732.10 11.79 433.02
Lambton FOB 2.30 11.46 421.082.10 11.79 433.02
Middlesex FOB2.16 2.16 N/A N/A 11.32 415.942.06 11.75 431.55
PROCESSORS
Windsor 2.46 11.62 426.962.50 12.19 447.72
TRANSFER
Hamilton 2.55 11.71 430.272.55 12.24 449.56
Prescott 2.40 11.56 424.76 N/A
Port Colborne2.57 11.73 431.002.47 12.16 446.62
Toledo El. -0.16 9.00 330.75-0.46 9.22 338.92
Exchange rate was 1.3197 up 0.0111
Chicago wheat closed slightly lower.
DEC19 HI 5.14 JUL20 HI 5.28 3/4
LOW 5.07 LOW 5.22 1/4
CLOSE 5.09 1/4 Down 2 1/4 CLOSE 5.24 1/2 Down 2 3/4
Minni wheat closed slightly lower.
DEC19 HI 5.29 1/2 SEP20 HI 5.66
LOW 5.19 3/4 LOW 5.60
CLOSE 5.23 1/2 Down 2 1/4 CLOSE 5.64 1/2 Down 1 1/4
GFO Cash Wheat Prices - DEL Terminal
Harvest 19 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 2.09 2.29 1.96 1.28
CAD $/bu 7.18 7.38 7.05 6.51
CAD $/tonne 263.91 271.18 259.06 239.30
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 1.69 1.95 1.63 N/A 1.28 1.54 1.15 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 1.20 N/A
Bruce 1.75 2.00 1.60 1.50 1.35 1.55 1.10 1.05
Essex N/A N/A 1.60 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 1.65 N/A N/A N/A 1.25 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 1.60 N/A N/A N/A 1.15 N/A
Brigden N/A N/A 1.60 N/A N/A N/A 1.15 N/A
Palmerston N/A N/A 1.61 1.52 N/A N/A 1.10 0.92
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 1.49 N/A N/A N/A N/A
North Gower N/A 1.75 1.50 0.95 N/A 1.78 1.48 0.90
W O Feed 2.22
TERMINAL
Port Colbor 2.03 2.29 2.03 N/A N/A N/A 1.55 N/A
PROCESSORS
Toledo FM N/A N/A 2.09 N/A N/A N/A 1.67 N/A
Toledo El. 5.27US 6.96CA 5.25US 6.91CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 20 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.60 1.86 1.53 1.00
CAD $/bu 6.84 7.11 6.78 6.65
CAD $/tonne 251.49 261.18 249.07 244.23
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 465.40
DDG's FOB Srn & Aylm 215.00
---
Ontario Grain Market Commentary for October 30, 2019
By Todd Austin, Grain Farmers of Ontario
Wednesday, October 30, 2019
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT Dec 3.90¾ ↑ 3 cents
Soybeans CBOT Jan 9.30½ ↓ 17¾ cents
Wheat CBOT Dec 5.09¼ ↓ 11½ cents
Wheat Minn. Dec 5.23½ ↓ 19 cents
Wheat Kansas Dec 4.18¼ ↓ 5 cents
Oats CBOT Dec 2.96¾ ↓ ¼ cents
Canadian $ Dec 0.7584 ↓ 67 points
CORN:
The US corn harvest is 41% complete, according to the USDA in its latest weekly Crop Progress Report. This level of completion was behind market expectations and below the five-year average. Snow is forecast in parts of the US Midwest, potentially slowing the harvest even further.
The Export price of US corn is closing the gap with Brazilian corn as the Brazilian Real gains value against the US dollar. This action has made gains for US corn in export markets.
SOYBEANS:
Chinese soymeal consumption is forecast to decline again this year. The USDA projects meal consumption at 63.1 million tonnes, down 3.7 million tonnes from last year. This decline is a direct result of the African swine fever outbreak.
Recent trade news between China and the US should strengthen the market; however the trade is waiting for more concrete sales and shipment details before pushing price higher on stronger demand signals.
WHEAT:
Weekly US exports of wheat were the lowest in 18 weeks and well off the pace needed to reach the USDA’s export target for this crop year.
According to a Bloomberg survey, analysts are predicting another decline in US winter wheat plantings. Planted acres of wheat are forecast to be 31.118 million acres, which is down from last year, and the lowest in 110 years.
2019 cash prices for October 30, 2019, at the market close, are as follows:
SWW at $263.69/mt ($7.18/bu), HRW at $270.96/mt ($7.37/bu),
HRS at $239.10/mt ($6.51/bu), and SRW at $258.84/mt ($7.04/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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