[Farmmarketnews] Wednesday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Aug 12 15:38:59 EDT 2020
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, August 12
(All Bases in CAD)
Exchange rate was 1.3247 down 0.0041
Chicago corn closed slightly higher.
SEP20 HI 3.15 DEC20 HI 3.27 3/4
LOW 3.08 LOW 3.20
CLOSE3.14 1/2 Up 3 CLOSE 3.27 1/4 Up 3 3/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt U.S. $/bu $/mt Cntrct U.S. $/bu $/mt
ELEVATORS +DEC20+DEC20+DEC20
CK Low 1.65 4.80 188.77 0.95 4.22 166.23
CK High 1.75 4.90 192.71 1.00 4.27 168.20
CK Avg 1.71 0.52 4.85 191.07 0.96 -0.08 4.23 166.56
Essex Cty 1.75 4.90 192.71 0.95 4.22 166.23
Mdsx Low 1.70 4.85 190.74 0.95 4.22 166.23
Mdsx High 1.75 4.90 192.71 1.00 4.27 168.20
Mdsx Avg 1.73 0.53 4.87 191.72 0.98 -0.06 4.25 167.22
Hensall 1.68 4.83 190.08 1.02 4.29 168.86
Bruce 1.70 4.85 190.74 0.95 4.22 166.23
Putnam 1.70 4.85 190.74 0.95 4.22 166.23
Burford 1.75 4.90 192.71 0.95 4.22 166.23
Port Perry 1.70 4.85 190.74 1.25 4.52 178.04
Norfolk 1.75 4.90 192.71 0.95 4.22 166.23
Palmerston 1.64 4.79 188.38 0.99 4.26 167.81
Varna 1.65 4.80 188.77 1.00 4.27 168.20
Trenton 1.65 4.80 188.77 1.25 4.52 178.04
Winchester 1.65 4.80 188.77 1.40 4.67 183.95
North Gower 1.55 4.70 184.83 1.45 4.72 185.92
Vankleek HilN/A 1.17 4.44 174.89
Huron FOB 1.90 5.05 198.61 1.11 4.38 172.53
Kent FOB 1.95 5.10 200.58 1.05 4.32 170.17
Lamb FOB 1.90 5.05 198.61 1.00 4.27 168.20
Mdsx FOB 1.90 1.95N/A N/A 5.05 198.61 1.10 4.37 172.14
FOB SW Que 2.32 5.47 215.15N/A
Track 2.15 5.30 208.45N/A
PROCESSORS
Chat-Eth N/A N/A 2.12N/A N/A
Jhnstwn-Eth N/A N/A N/A N/A N/A
Aylmer-Eth N/A 2.10 1.95N/A 1.25 4.52 178.04
Sarn-Eth N/A 2.00N/A N/A 1.15 4.42 174.11
London-Ing N/A N/A 2.20N/A 1.35 4.62 181.98
Pt.Colb-Ing N/A N/A N/A N/A N/A
Cardnl-Ing N/A N/A 2.20N/A 1.55 4.82 189.85
W O Feed 2.20 5.35 210.58
US Rep 2.14 5.29 208.06
Toledo El. -0.07 3.08 121.21 -0.26 3.01 118.41
TRANSFER
Pt. Colb 2.10 5.25 206.49 1.35 4.62 181.98
Prescott 1.78 4.93 193.89 1.40 4.67 183.95
HI SD CRN 1.00 4.27 1/4
*Wet Bid
Exchange rate was 1.3247 down 0.0041
Chicago soybeans closed slightly higher.
NOV20 HI 8.83 1/2 NOV20 HI 8.83 1/2
LOW 8.67 LOW 8.67
CLOSE8.83 Up 9 1/2 CLOSE 8.83 Up 9 1/2
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt Basis U.S. $/bu $/mt
ELEVATORS +NOV20+NOV20+NOV20
CK Low 2.44 11.27 414.10 2.39 11.22 412.26
CK High 2.45 11.28 414.47 2.40 11.23 412.63
CK Average 2.45 -0.32 11.28 414.41 2.40 -0.35 11.23 412.57
Essex Cty 2.45 11.28 414.47 2.35 11.18 410.79
Mdsx Low 2.42 11.25 413.37 2.37 11.20 411.53
Mdsx High 2.45 11.28 414.47 2.40 11.23 412.63
Mdsx Average2.44 -0.33 11.27 413.92 2.39 -0.36 11.22 412.08
Hensall 2.45 11.28 414.47 2.40 11.23 412.63
Bruce 2.45 11.28 414.47 2.40 11.23 412.63
Putnam 2.45 11.28 414.47 2.40 11.23 412.63
Burford 2.49 11.32 415.94 2.44 11.27 414.10
Port Perry 2.44 11.27 414.10 2.39 11.22 412.26
Norfolk 2.45 11.28 414.47 2.40 11.23 412.63
Palmerston 2.44 11.27 414.10 2.40 11.23 412.63
Varna 2.45 11.28 414.47 2.40 11.23 412.63
Trenton N/A 2.40 11.23 412.63
Winchester N/A 2.40 11.23 412.63
North Gower 2.53 11.36 417.41 2.60 11.43 419.98
Vankleek Hil N/A 2.80 11.63 427.33
Huron FOB 2.51 11.34 416.67 2.39 11.22 412.26
Kent FOB 2.60 11.43 419.98 2.45 11.28 414.47
Lambton FOB 2.73 11.56 424.76 2.60 11.43 419.98
Mdsx FOB 2.64 2.51 N/A N/A 11.47 421.45 2.50 11.33 416.31
PROCESSORS
Windsor 2.87 11.70 429.90 2.60 11.43 419.98
TRANSFER
Hamilton 3.05 11.88 436.52 2.90 11.73 431.00
Prescott N/A 3.00 11.83 434.68
Port Colborn2.85 11.68 429.17 2.73 11.56 424.76
Toledo El. 0.00 8.83 324.45 -0.33 8.50 312.29
Exchange rate was 1.3247 down 0.0041
Chicago wheat closed slightly lower.
SEP20 HI 4.98 JUL21 HI 5.22 1/2
LOW 4.88 LOW 5.14
CLOSE 4.91 1/4 Down 3 3/4 CLOSE 5.17 Down 3
Minni wheat closed slightly lower.
SEP20 HI 4.95 SEP21 HI 5.51 1/4
LOW 4.91 1/4 LOW 5.49 3/4
CLOSE 4.92 1/4 Down 1/2 CLOSE 5.49 3/4 Down 2 1/4
GFO Cash Wheat Prices - DEL Terminal
Harvest 20 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.46 1.66 1.33 1.13
CAD $/bu 6.38 6.57 6.24 6.06
CAD $/tonne 234.24 241.54 229.37 222.56
Direct MarkHarvest 2020 Harvest 2021
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 0.95 N/A N/A N/A 1.00 N/A
London 1.06 1.30 0.93 N/A 1.35 1.41 0.95 N/A
Hensall 1.30 N/A 1.00 N/A 1.35 N/A 1.05 N/A
Trenton N/A N/A 1.05 N/A N/A N/A 1.05 N/A
Bruce 1.00 1.40 0.95 0.95 1.05 1.45 0.95 N/A
Essex N/A N/A 0.95 N/A N/A N/A 1.00 N/A
Norwich 1.30 N/A 1.00 N/A 1.35 N/A 1.05 N/A
Port Hope N/A N/A 1.05 N/A N/A N/A 1.05 N/A
Kent Bridge 1.30 N/A 1.00 N/A 1.35 N/A 1.05 N/A
Chatham N/A N/A 0.95 N/A N/A N/A 1.00 N/A
Brigden N/A N/A 0.95 N/A N/A N/A 1.00 N/A
Palmerston N/A 1.33 1.00 0.94 N/A 1.53 1.06 0.68
Varna 1.20 1.35 0.95 N/A 1.25 1.40 1.00 N/A
Mitchell 1.30 1.40 1.00 N/A 1.35 1.45 1.05 N/A
Thornton N/A N/A N/A 0.92 N/A N/A N/A N/A
North Gower N/A 1.65 1.40 1.18 N/A 1.72 1.37 1.00
W O Feed 1.49
TERMINAL
Port Colbor N/A N/A 1.33 N/A N/A N/A 1.35 N/A
PROCESSORS
Toledo FM N/A N/A 1.59 N/A N/A N/A N/A N/A
Toledo El. 4.91US 6.51CA 5.12US 6.78CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 21 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.54 1.67 1.34 0.98
CAD $/bu 6.71 6.84 6.51 6.48
CAD $/tonne 246.56 251.43 239.27 238.17
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 445.56
DDG's FOB Srn & Aylm 185.00 - 205.00
---
Ontario Grain Market Commentary for August 12, 2020
By Todd Austin, Grain Farmers of Ontario
Wednesday, August 12, 2020
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT Sept 3.14½ ↑ 4½ Cents
Soybeans CBOT Sept 8.80½ ↑ 3¼ Cents
Wheat CBOT Sept 4.91¾ ↓ 18¾ Cents
Wheat Minn. Sept 4.92¼ ↓ 11¼ Cents
Wheat Kansas Sept 4.17¾ ↓ 8¼ Cents
Oats CBOT Sept 2.65 ↓ 9 Cents
Canadian $ Sept 0.7548 ↓ 7 Points
CORN:
The USDA released their August report today. The trade was expecting U.S. corn yields of 180 bushels per acre. This would equate to a 15-billion-bushel corn crop. The July yield estimate was 178.5 bushels per acre. In fact, the USDA has pegged the U.S. corn crop at 181.3 bushels per acre. This would bring U.S. production to 15.27 billion bushels, up 278 million bushels from July. Demand has increased by 150 million tonnes from what was reported in the July report. The net result of the production less demand is that the 2020/2021 carryout is expected to be 2.756 billion bushels.
SOYBEANS:
The trade was anticipating U.S. soybean yield numbers of 51 bushels per acre, which would bring soybean production to 4 billion bushels for the 2020-2021 crop year. The USDA tallied 53.3 bushels per acre, well above trade estimates and the 49.8 bushel per acre amount estimated in July.
With the new USDA yield estimate, production is expected to reach 4.42 billion bushels, a rise of 290 million bushels from last month’s report. The USDA has increased crush and export demand by a combined total of 95 million bushels. Ending Stocks are approximated to be 610 million bushels, up 185 million bushels from the USDA report in July.
WHEAT:
With an estimated 90% of the French wheat harvested, the soft wheat crop looks to be one of the smallest in recent history. The USDA forecasts France’s soft wheat crop to be 29.5 to 29.7 million tonnes. Total wheat production is anticipated to be 31 million tonnes, down 25% from 2019.
The latest Egyptian GASC tender saw Russia offer the lowest bid of $205.90 per tonnes on 60,000 tonnes of wheat on a free-on-board basis. Bids ranged from $215.50 to $205.90 per tonnes, mainly from Russia and the Ukraine. The GASC tender is for a shipment period of September 25 to October 5.
2020 harvest prices for August 12, 2020, at the market close, are as follows:
SWW at $234.54/mt ($6.38/bu), HRW at $241.84/mt ($6.58/bu) + protein,
HRS at $ 222.62/mt ($6.06/bu) + protein, and SRW at $229.67/mt ($6.25/bu).
We offer on farm bids for 2020 wheat 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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