[Farmmarketnews] Wednesday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Dec 16 15:43:31 EST 2020
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, December 16
(All Bases in CAD)
Exchange rate was 1.2749 up 0.0017
Chicago corn closed slightly higher.
MAR21 HI 4.29 1/4 DEC21 HI 4.14
LOW 4.23 3/4 LOW 4.11 1/4
CLOSE4.27 1/4 Up 2 1/2 CLOSE 4.13 1/2 Up 1 1/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt U.S. $/bu $/mt Cntrct U.S. $/bu $/mt
ELEVATORS +MAR21+MAR21+MAY21
CK Low 1.25 5.52 217.41 0.90 5.04 198.22
CK High 1.30 5.57 219.38 0.95 5.09 200.19
CK Avg 1.28 0.08 5.55 218.40 0.91 -0.18 5.04 198.55
Essex Cty 1.30 5.57 219.38 0.90 5.04 198.22
Mdsx Low 1.25 5.52 217.41 0.90 5.04 198.22
Mdsx High 1.25 5.52 217.41 0.90 5.04 198.22
Mdsx Avg 1.25 0.06 5.52 217.41 0.90 -0.18 5.04 198.22
Hensall 1.27 5.54 218.07 0.92 5.05 198.88
Bruce 1.25 5.52 217.41 0.85 4.99 196.25
Putnam 1.25 5.52 217.41 0.90 5.04 198.22
Burford 1.30 5.57 219.38 0.90 5.04 198.22
Port Perry 1.35 5.62 221.35 0.95 5.09 200.19
Norfolk 1.30 5.57 219.38 0.90 5.04 198.22
Palmerston 1.29 5.56 218.99 0.91 5.05 198.61
Varna 1.25 5.52 217.41 0.90 5.04 198.22
Trenton 1.40 5.67 223.32 0.95 5.09 200.19
Winchester 1.55 5.82 229.22 1.25 5.39 212.00
North Gower 1.42 5.69 224.10 1.25 5.39 212.00
Vankleek Hil 1.38 5.65 222.53 1.03 5.17 203.34
Huron FOB 1.50 1.50 1.52 1.56 5.77 227.25N/A
Kent FOB 1.50 5.77 227.25 0.95 5.09 200.19
Lamb FOB 1.50 5.77 227.25 0.95 5.09 200.19
Mdsx FOB 1.50 1.55N/A N/A 5.77 227.25 0.95 5.09 200.19
FOB SW Que 2.09 6.36 250.48N/A
Track 1.85 6.12 241.03N/A
PROCESSORS
Chat-Eth N/A 1.67 1.73 1.74 1.13 5.27 207.27
Jhnstwn-Eth N/A N/A N/A 1.80 1.32 5.46 214.75
Aylmer-Eth 1.75 1.75 1.78 1.80 6.02 237.10 1.15 5.29 208.06
Sarn-Eth N/A 1.70 1.75N/A N/A
London-Ing N/A N/A N/A N/A 1.25 5.39 212.00
Pt.Colb-Ing N/A N/A N/A N/A N/A
Cardnl-Ing N/A N/A N/A N/A 1.35 5.49 215.93
W O Feed 1.86 6.13 241.50
US Rep 1.82 6.09 239.85
Toledo El. 0.00 4.27 168.20 -0.25 3.88 152.75
TRANSFER
Pt. Colb 1.80 6.07 239.06 1.00 5.14 202.16
Prescott N/A 1.37 5.51 216.72
HI SD CRN 1.30 5.57 1/4
*Wet Bid
Exchange rate was 1.2749 up 0.0017
Chicago soybeans closed slightly lower.
JAN21 HI 11.95 NOV21 HI 10.70 3/4
LOW 11.81 3/4 LOW 10.61
CLOSE11.83 3/4 Down 1/2 CLOSE 10.62 3/4 Down 2 1/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt Basis U.S. $/bu $/mt
ELEVATORS +JAN21+MAR21+MAR21
CK Low 2.90 14.74 541.51 2.30 12.93 475.00
CK High 2.95 14.79 543.35 2.35 12.98 476.84
CK Average 2.94 -0.25 14.77 542.80 2.34 -0.46 12.96 476.29
Essex Cty 2.95 14.79 543.35 2.35 12.98 476.84
Mdsx Low 2.92 14.76 542.25 2.32 12.95 475.74
Mdsx High 2.95 14.79 543.35 2.35 12.98 476.84
Mdsx Average2.94 -0.25 14.77 542.80 2.34 -0.46 12.96 476.29
Hensall 2.88 14.72 540.90 2.32 12.94 475.62
Bruce 2.85 14.69 539.67 2.30 12.93 475.00
Putnam 2.95 14.79 543.35 2.35 12.98 476.84
Burford 2.99 14.83 544.82 2.39 13.02 478.31
Port Perry 2.91 14.75 541.88 2.31 12.94 475.37
Norfolk 2.95 14.79 543.35 2.35 12.98 476.84
Palmerston 2.95 14.79 543.35 2.31 12.94 475.37
Varna 2.85 14.69 539.67 2.30 12.93 475.00
Trenton 2.90 14.74 541.51 2.30 12.93 475.00
Winchester 2.90 14.74 541.51 2.48 13.11 481.62
North Gower 2.75 14.59 536.00 2.46 13.09 480.88
Vankleek Hil2.87 14.71 540.41 2.50 13.13 482.35
Huron FOB 3.08 3.14 3.22 3.22 14.92 548.12 N/A
Kent FOB 3.05 14.89 547.02 2.35 12.98 476.84
Lambton FOB 3.00 14.84 545.18 2.40 13.03 478.68
Mdsx FOB N/A 3.11 3.11 N/A 2.45 13.08 480.52
PROCESSORS
Windsor N/A 2.61 13.24 486.39
TRANSFER
Hamilton 3.50 15.34 563.56 2.80 13.43 493.38
Prescott 3.14 14.98 550.33 2.80 13.43 493.38
Port Colborn3.33 15.17 557.31 N/A
Toledo El. 0.00 11.84 434.95 -0.45 10.18 374.10
Exchange rate was 1.2749 up 0.0017
Chicago wheat closed slightly lower.
MAR21 HI 6.07 3/4 JUL21 HI 6.02 3/4
LOW 5.89 3/4 LOW 5.88 1/4
CLOSE 5.98 1/2 Down 1 1/4 CLOSE 5.95 Down 1 1/2
Minni wheat closed slightly lower.
MAR21 HI 5.63 1/4 SEP21 HI 5.86 3/4
LOW 5.54 1/4 LOW 5.79 1/2
CLOSE 5.58 3/4 Down 3/4 CLOSE 5.83 1/4 Down 3/4
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 1.20 N/A N/A N/A 0.95 N/A
London 1.13 1.07 1.07 N/A 1.18 1.18 0.99 N/A
Hensall 1.25 N/A 1.20 N/A 1.25 N/A 0.95 N/A
Trenton N/A N/A N/A N/A N/A N/A 1.05 N/A
Bruce 1.25 1.30 1.20 1.35 1.20 1.20 1.00 1.25
Essex N/A N/A 1.20 N/A N/A N/A 1.00 N/A
Norwich 1.25 N/A 1.20 N/A 1.25 N/A 0.95 N/A
Port Hope N/A N/A 1.07 N/A N/A N/A 1.10 N/A
Kent Bridge 1.25 N/A 1.20 N/A 1.25 N/A 0.95 N/A
Chatham N/A N/A 1.20 N/A N/A N/A 1.00 N/A
Brigden N/A N/A 1.20 N/A N/A N/A 1.00 N/A
Palmerston N/A 1.09 1.09 1.43 N/A 1.23 1.04 1.23
Varna 1.20 1.30 1.20 N/A 1.15 1.15 0.95 N/A
Mitchell 1.25 1.35 1.20 N/A 1.25 1.20 0.95 N/A
Thornton N/A N/A N/A 1.22 N/A N/A N/A N/A
North Gower N/A 1.05 1.04 0.61 N/A 1.17 1.07 0.73
W O Feed 1.81
TERMINAL
Port Colbor N/A N/A 1.59 N/A N/A N/A 1.38 N/A
PROCESSORS
Toledo FM N/A N/A 1.77 N/A N/A N/A 1.76 N/A
Toledo El. 5.99US 7.63CA 5.90US 7.52CA
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 594.71
DDG's FOB Srn & Aylm 310.00 - 315.00
---
Ontario Grain Market Commentary for December 16, 2020
By Todd Austin, Grain Farmers of Ontario
Wednesday, December 16, 2020
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT Mar 4.27 ¼ ↑ 3 ½ Cents
Soybeans CBOT Jan 11.83 ¼ ↑ 25 ¼ Cents
Wheat CBOT Mar 5.98 ½ ↑ 15 ¼ Cent
Wheat Minn. Mar 5.58 ¾ ↑ 3 Cents
Wheat Kansas Mar 5.51 ↑ 10 ½ Cents
Oats CBOT Mar 3.36 ↑ 8 ¼ Cents
Canadian $ Mar 0.7837 ↑ 32 Points
CORN:
Brazilian corn production is estimated to be 102.5 million tonnes this year. The full season corn crop is expected to be 24.1 million tonnes, down 2.4 million from November estimates, while the Safrinha corn crop estimate remains unchanged at 76.7 million tonnes.
The Ukraine has harvested 35.9 million tonnes of corn this year, up 100,000 tonnes from the previous year. In all, the Ukraine harvested 65.4 million tonnes of grains. Domestic demand is but a small fraction of this volume which allows the Ukraine to be a major exporter of grains in the region.
SOYBEANS:
Brazil has planted 95 million acres of soybeans this year compared to 91 million acres during the previous year. Early dryness which slowed planting and continued adverse weather conditions have led to reductions in production estimates. It is expected that production will decline 0.5 million tonnes from previous estimates to 134.4 million tonnes. Although production estimates have been lowered, they are still above production levels of last year.
The late planting will also mean a later harvest. This could mean that importers such as China will continue to rely on U.S. sourced soybeans well into the period where they normally switch over to buying South American beans.
WHEAT:
Australia's experts estimate that their wheat production will total 31.17 million tonnes, up nearly 8% from September figures. This would be the second largest wheat crop for Australia. Favourable rainfalls in September and October have benefited production this year. To date, the largest wheat crop was in the 2016/2017 crop year with the production of 31.8 million tonnes.
Wheat futures had a one-day rally on talk that Russia would impose a wheat-export tax in an effort to stabilize domestic prices. The export tax would be set at 25 euros a tonne between Feb 15 and June 30. This tax would be on top of the already established grain export quota of 1.75 million tonnes.
---
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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