[Farmmarketnews] Wednesday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Feb 5 15:21:19 EST 2020
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, February 5
(All Bases in CAD)
Exchange rate was 1.3296 up 0.0013
Chicago corn closed slightly lower.
MAR20 HI 3.83 1/4 DEC20 HI 3.93 3/4
LOW 3.79 1/2 LOW 3.91 1/4
CLOSE3.80 3/4 Down 1 1/2 CLOSE 3.92 1/2 Down 1/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt U.S. $/bu $/mt Cntrct U.S. $/bu $/mt
ELEVATORS +MAY20+MAY20+JUL20
CK Low 1.35 5.16 203.04 0.85 4.78 187.98
CK High 1.40 5.21 205.01 0.90 4.83 189.95
CK Avg 1.38 0.10 5.19 204.35 0.88 -0.31 4.81 189.30
Essex Cty 1.40 5.21 205.01 0.90 4.83 189.95
Mdsx Low 1.35 5.16 203.04 0.85 4.78 187.98
Mdsx High 1.40 5.21 205.01 0.90 4.83 189.95
Mdsx Avg 1.38 0.09 5.18 204.03 0.88 -0.31 4.80 188.97
Hensall 1.40 5.21 205.01 0.90 4.83 189.95
Bruce 1.40 5.21 205.01 0.90 4.83 189.95
Putnam 1.35 5.16 203.04 0.85 4.78 187.98
Burford 1.40 5.21 205.01 0.90 4.83 189.95
Port Perry 1.40 5.21 205.01 0.95 4.88 191.92
Norfolk 1.40 5.21 205.01 0.90 4.83 189.95
Palmerston 1.39 5.20 204.62 0.96 4.89 192.31
Varna 1.40 5.21 205.01 0.90 4.83 189.95
Trenton 1.45 5.26 206.98 1.00 4.93 193.89
Winchester 1.45 5.26 206.98 1.35 5.28 207.67
North Gower 1.45 5.26 206.98 1.35 5.28 207.67
Huron FOB 1.65 5.46 214.85 0.97 4.90 192.71
Kent FOB 1.63 5.44 214.06 0.90 4.83 189.95
Lamb FOB 1.59 5.40 212.49 0.98 4.91 193.10
Mdsx FOB 1.65 1.65N/A N/A 5.46 214.85 0.95 4.88 191.92
FOB SW Que 2.26 6.07 238.87N/A
Track 1.83 5.63 221.74N/A
PROCESSORS
Chat-Eth N/A N/A N/A N/A 1.11 5.04 198.22
Jhnstwn-Eth N/A 2.09 2.15 2.18 1.57 5.50 216.33
Aylmer-Eth N/A N/A N/A N/A N/A
Sarn-Eth 1.60 1.75 1.75 1.75 5.41 212.88N/A
London-Ing N/A N/A N/A 1.90 1.30 5.23 205.70
Pt.Colb-Ing N/A N/A N/A N/A N/A
Cardnl-Ing N/A 2.05 2.10N/A 1.40 5.33 209.64
W O Feed 1.97 5.78 227.45
US Rep 2.25 6.06 238.47
Toledo El. 0.31 4.11 161.93 -0.27 3.66 144.06
TRANSFER
Pt. Colb 1.60 5.41 212.88 1.15 5.08 199.79
Prescott 1.96 5.77 227.06 1.40 5.33209 5/8
MID SD CRN 1.37 1/2 5.18 1/4
HI SD CRN 1.40 5.20 3/4
*Wet Bid
Exchange rate was 1.3296 up 0.0013
Chicago soybeans closed slightly higher.
MAR20 HI 8.88 NOV20 HI 9.27 1/4
LOW 8.78 LOW 9.18 1/4
CLOSE8.80 Up 1/2 CLOSE 9.20 1/4 Up 2
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt
ELEVATORS +MAR2+MAY2+MAY20
CK Low 2.43 11.23 412.632.24 11.44 420.44
CK High 2.45 11.25 413.372.25 11.45 420.81
CK Average 2.45 -0.3411.25 413.242.25 -0.5911.45 420.75
Essex Cty 2.45 11.25 413.372.25 11.45 420.81
Mdsx Low 2.44 11.24 413.002.22 11.42 419.71
Mdsx High 2.45 11.25 413.372.25 11.45 420.81
Mdsx Average 2.45 -0.3411.25 413.182.24 -0.6011.44 420.26
Hensall 2.45 11.25 413.372.25 11.45 420.81
Bruce 2.45 11.25 413.372.25 11.45 420.81
Putnam 2.45 11.25 413.372.25 11.45 420.81
Burford 2.51 11.31 415.572.29 11.49 422.28
Port Perry 2.43 11.23 412.632.21 11.41 419.34
Norfolk 2.45 11.25 413.372.25 11.45 420.81
Palmerston 2.36 11.16 410.062.22 11.42 419.71
Varna 2.45 11.25 413.372.25 11.45 420.81
Trenton 2.40 11.20 411.532.25 11.45 420.81
Winchester 2.45 11.25 413.372.31 11.51 423.01
North Gower 2.26 11.06 406.392.28 11.48 421.91
Huron FOB 2.60 11.40 418.882.35 11.55 424.48
Kent FOB 2.65 11.45 420.722.25 11.45 420.81
Lambton FOB 2.60 11.40 418.882.40 11.60 426.32
Middlesex FOB2.56 2.63 N/A N/A 11.36 417.412.34 11.54 424.11
PROCESSORS
Windsor 3.03 11.83 434.682.57 11.77 432.57
TRANSFER
Hamilton 2.95 11.75 431.742.70 11.90 437.34
Prescott N/A 2.60 11.80 433.67
Port Colborne2.71 11.51 422.922.75 11.95 439.18
Toledo El. 0.00 8.80 323.34-0.40 8.80 323.48
Exchange rate was 1.3296 up 0.0013
Chicago wheat closed slightly higher.
MAR20 HI 5.63 3/4 JUL20 HI 5.60
LOW 5.55 1/2 LOW 5.53 1/2
CLOSE 5.62 Up 4 3/4 CLOSE 5.58 1/4 Up 3 3/4
Minni wheat closed slightly higher.
MAR20 HI 5.37 SEP20 HI 5.62 3/4
LOW 5.32 LOW 5.59 1/4
CLOSE 5.35 1/4 Up 3 1/2 CLOSE 5.62 Up 2 3/4
GFO Cash Wheat Prices - DEL Terminal
Harvest 19 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 2.12 2.32 2.12 1.37
CAD $/bu 7.74 7.94 7.74 6.72
CAD $/tonne 284.34 291.66 284.34 246.84
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 N/A N/A N/A N/A 1.30 N/A
London 1.97 2.37 1.90 N/A 1.49 1.76 1.29 N/A
Hensall 1.85 N/A 1.85 N/A 1.45 N/A 1.25 N/A
Trenton N/A N/A N/A N/A N/A N/A 1.30 N/A
Bruce 1.90 2.15 1.90 1.85 1.50 1.70 1.30 1.25
Essex N/A N/A 1.90 N/A N/A N/A 1.30 N/A
Norwich 1.85 N/A 1.85 N/A 1.45 N/A 1.25 N/A
Port Hope N/A N/A 1.80 N/A N/A N/A 1.30 N/A
Kent Bridge 1.85 N/A 1.85 N/A 1.45 N/A 1.25 N/A
Chatham N/A N/A 1.90 N/A N/A N/A 1.30 N/A
Brigden N/A N/A 1.90 N/A N/A N/A 1.30 N/A
Palmerston N/A N/A 1.91 1.82 N/A N/A 1.32 1.25
Varna 1.95 2.15 1.90 N/A 1.50 1.70 1.30 N/A
Mitchell 1.85 2.20 1.85 N/A 1.45 1.60 1.25 N/A
Thornton N/A N/A N/A 2.18 N/A N/A N/A N/A
North Gower N/A 1.90 1.75 0.95 N/A 1.81 1.56 0.95
W O Feed 2.53
TERMINAL
Port Colbor N/A N/A 2.30 N/A N/A N/A 1.69 N/A
PROCESSORS
Toledo FM N/A N/A 2.25 N/A N/A N/A 1.97 N/A
Toledo El. 5.77US 7.67CA 5.68US 7.55CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 20 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.64 1.90 1.64 1.05
CAD $/bu 7.22 7.49 7.22 6.67
CAD $/tonne 265.28 275.05 265.28 245.14
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 431.45
DDG's FOB Srn & Aylm 230.00 - 235.00
---
Ontario Grain Market Commentary for February 5, 2020
By Todd Austin, Grain Farmers of Ontario
Wednesday, February 5, 2020
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT Mar 3.80¾ ↓ 3½ cents
Soybeans CBOT Mar 8.80 ↓ 13 cents
Wheat CBOT Mar 5.62 ↓ ¼ cent
Wheat Minn. Mar 5.35¼ ↓ ½ cent
Wheat Kansas Mar 4.73¾ ↑ 1¾ cents
Oats CBOT Mar 3.04½ ↓ 3¼ cents
Canadian $ Mar 0.7523 ↓ 53 points
CORN:
China looks set to sell 2.96 million tonnes of corn from state reserves to ease food shortages in parts of their country. In an effort to control the spread of coronavirus, some local governments had imposed restrictions that have greatly limited feed and live animal transports.
Zimbabwe is permitting genetically modified corn to be imported in order to alleviate widespread food shortages. This corn will be milled into corn meal, a national food staple, which is in short supply across the county. Zimbabwe will also ensure that the genetically modified corn does not enter national seed stocks. Genetically modified corn is not grown in Sub-Saharan Africa except for South Africa.
SOYBEANS:
Soybean futures have risen in the month of February as the market recovers from recent lows. The gains are being tempered by fears that the coronavirus outbreak may limit demand.
Brazil’s soybean production is expected to increase by 8% from the previous year. Strong yields and acreage increases have led to projections of 124 million tonnes of soybeans this year. For comparison, the U.S. soybean production has been pegged at 97 million tonnes this year.
WHEAT:
French wheat exports are at a six-year high in January. Approximately 1.33 million tonnes were exported, despite strikes and associated stoppages at the ports causing shipment delays. French wheat also represented the lowest bid offered to the latest GASC bid at $231.50 per tonne on a free-on-board basis, for 60,000 tonnes of wheat.
U.S. flour production has fallen to a seven-year low. Production by U.S. flour mills totalled 422,277,000 cwts or approximately 19.2 million tonnes. Production is down 1.1% from 2018. Based on the National Agricultural Statistics Service data, mills operated at an average of 83.2% of a six-day capacity in 2019, down from 84.7 from the previous year.
2019 cash prices for February 5, 2020, at the market close, are as follows:
SWW at $284.27/mt ($7.74/bu), HRW at $291.59/mt ($7.94/bu),
HRS at $246.78/mt ($6.72/bu), and SRW at $284.27/mt ($7.74/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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