[Farmmarketnews] Wednesday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Jan 29 15:21:08 EST 2020
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, January 29
(All Bases in CAD)
Exchange rate was 1.3198 up 0.0029
Chicago corn closed slightly lower.
MAR20 HI 3.88 1/4 DEC20 HI 3.98 1/2
LOW 3.82 3/4 LOW 3.94 1/4
CLOSE3.84 1/4 Down 2 1/4 CLOSE 3.95 1/4 Down 2 1/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt U.S. $/bu $/mt Cntrct U.S. $/bu $/mt
ELEVATORS +MAR20+MAY20+MAY20
CK Low 1.35 5.19 204.42 0.85 4.80 189.07
CK High 1.35 5.19 204.42 0.95 4.90 193.00
CK Avg 1.35 0.09 5.19 204.42 0.88 -0.29 4.83 190.05
Essex Cty 1.35 5.19 204.42 0.85 4.80 189.07
Mdsx Low 1.35 5.19 204.42 0.85 4.80 189.07
Mdsx High 1.35 5.19 204.42 0.85 4.80 189.07
Mdsx Avg 1.35 0.09 5.19 204.42 0.85 -0.31 4.80 189.07
Hensall 1.38 5.22 205.40 0.88 4.83 190.05
Bruce 1.35 5.19 204.42 0.85 4.80 189.07
Putnam 1.35 5.19 204.42 0.85 4.80 189.07
Burford 1.35 5.19 204.42 0.85 4.80 189.07
Port Perry 1.35 5.19 204.42 0.95 4.90 193.00
Norfolk 1.35 5.19 204.42 0.85 4.80 189.07
Palmerston 1.36 5.20 204.81 0.92 4.87 191.82
Varna 1.35 5.19 204.42 0.85 4.80 189.07
Trenton 1.45 5.29 208.36 1.00 4.95 194.97
Winchester 1.45 5.29 208.36 1.30 5.25 206.78
North Gower 1.43 5.27 207.57 1.35 5.30 208.75
Huron FOB 1.55 5.39 212.29 0.87 4.82 189.85
Kent FOB 1.53 5.37 211.51 0.85 4.80 189.07
Lamb FOB 1.55 5.39 212.29 1.00 4.95 194.97
Mdsx FOB 1.55 1.55N/A N/A 5.39 212.29 0.90 4.85 191.03
FOB SW Que 2.23 6.07 239.06N/A
Track 1.78 5.62 221.35N/A
PROCESSORS
Chat-Eth N/A N/A N/A N/A 1.06 5.01 197.33
Jhnstwn-Eth N/A N/A N/A 1.89 1.39 5.34 210.32
Aylmer-Eth N/A 1.60N/A N/A 1.05 5.00 196.94
Sarn-Eth 1.60 1.60N/A N/A 5.44 214.26N/A
London-Ing N/A N/A N/A N/A 1.30 5.25 206.78
Pt.Colb-Ing N/A N/A N/A N/A N/A
Cardnl-Ing N/A N/A 2.00 2.00 1.40 5.35 210.72
W O Feed 1.92 5.76 226.78
US Rep 2.22 6.06 238.67
Toledo El. 0.30 4.15 163.22 -0.26 3.69 145.21
TRANSFER
Pt. Colb 1.60 5.44 214.26 1.15 5.10 200.88
Prescott 1.85 5.69 224.10 1.40 5.35210 5/7
MID SD CRN 1.35 5.19 1/4
HI SD CRN 1.35 5.19 1/4
*Wet Bid
Exchange rate was 1.3198 up 0.0029
Chicago soybeans closed slightly lower.
MAR20 HI 9.03 NOV20 HI 9.38 1/2
LOW 8.90 3/4 LOW 9.27 1/4
CLOSE8.93 Down 2 CLOSE 9.29 1/2 Down 1
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt
ELEVATORS +MAR2+MAR2+MAY20
CK Low 2.25 11.18 410.792.15 11.45 420.53
CK High 2.30 11.23 412.632.20 11.50 422.37
CK Average 2.28 -0.4411.21 411.902.18 -0.6011.48 421.70
Essex Cty 2.30 11.23 412.632.20 11.50 422.37
Mdsx Low 2.25 11.18 410.792.15 11.45 420.53
Mdsx High 2.29 11.22 412.262.17 11.47 421.27
Mdsx Average 2.27 -0.4411.20 411.532.16 -0.6111.46 420.90
Hensall 2.28 11.21 411.712.18 11.47 421.45
Bruce 2.25 11.18 410.792.15 11.45 420.53
Putnam 2.25 11.18 410.792.15 11.45 420.53
Burford 2.36 11.29 414.842.24 11.54 423.84
Port Perry 2.28 11.21 411.902.16 11.46 420.90
Norfolk 2.30 11.23 412.632.20 11.50 422.37
Palmerston 2.33 11.26 413.732.15 11.45 420.53
Varna 2.30 11.23 412.632.20 11.50 422.37
Trenton 2.25 11.18 410.792.15 11.45 420.53
Winchester 2.30 11.23 412.632.30 11.60 426.04
North Gower 2.26 11.19 411.162.28 11.58 425.31
Huron FOB 2.45 11.38 418.142.30 11.60 426.04
Kent FOB 2.50 11.43 419.982.20 11.50 422.37
Lambton FOB 2.40 11.33 416.312.35 11.65 427.88
Middlesex FOB2.44 2.44 N/A N/A 11.37 417.782.27 11.57 424.94
PROCESSORS
Windsor 2.72 11.65 428.062.51 11.81 433.76
TRANSFER
Hamilton 2.80 11.73 431.002.65 11.95 438.90
Prescott N/A 2.50 11.80 433.39
Port Colborne2.66 11.59 425.862.68 11.98 440.01
Toledo El. 0.00 8.93 328.12-0.40 8.90 326.99
Exchange rate was 1.3198 up 0.0029
Chicago wheat closed slightly to moderately lower.
MAR20 HI 5.73 1/4 JUL20 HI 5.70 3/4
LOW 5.61 LOW 5.59 1/4
CLOSE 5.62 1/4 Down 7 1/2 CLOSE 5.60 1/2 Down 6 3/4
Minni wheat closed slightly to moderately lower.
MAR20 HI 5.44 SEP20 HI 5.65
LOW 5.35 1/4 LOW 5.63
CLOSE 5.35 3/4 Down 6 1/2 CLOSE 5.63 Down 5 3/4
GFO Cash Wheat Prices - DEL Terminal
Harvest 19 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 2.06 2.26 2.06 1.32
CAD $/bu 7.68 7.88 7.68 6.67
CAD $/tonne 282.35 289.63 282.35 245.26
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 1.25 N/A
London 1.91 2.30 1.91 N/A 1.44 1.71 1.25 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 1.85 2.10 1.85 1.80 1.45 1.65 1.20 1.20
Essex N/A N/A 1.85 N/A N/A N/A 1.25 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 1.75 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 1.85 N/A N/A N/A 1.25 N/A
Brigden N/A N/A 1.85 N/A N/A N/A 1.25 N/A
Palmerston N/A N/A 1.87 1.78 N/A N/A 1.28 1.21
Varna 1.95 2.25 1.85 N/A 1.45 1.65 1.25 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 2.13 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 2.24 N/A N/A N/A 1.64 N/A
PROCESSORS
Toledo FM N/A N/A 2.19 N/A N/A N/A 1.92 N/A
Toledo El. 5.77US 7.62CA 5.71US 7.53CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 20 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.59 1.86 1.53 1.01
CAD $/bu 7.20 7.46 7.13 6.64
CAD $/tonne 264.50 274.20 262.07 243.89
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 441.04
DDG's FOB Srn & Aylm 215.00 - 235.00
---
Ontario Grain Market Commentary for January 29, 2020
By Todd Austin, Grain Farmers of Ontario
Wednesday, January 29, 2020
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT Mar 3.84¼ ↓ 4½ cents
Soybeans CBOT Mar 8.93 ↓ 20¾ cents
Wheat CBOT Mar 5.62¼ ↓ 15½ cents
Wheat Minn. Mar 5.35¾ ↓ 19¾ cents
Wheat Kansas Mar 4.72 ↓ 20½ cents
Oats CBOT Mar 3.07¾ ↓ 5½ cents
Canadian $ Mar 0.7576 ↓ 31 points
CORN:
The South African corn crop is expected to reach 2.5 million hectares (6.2 million acres). Corn production could reach 13.3 million tonnes. This should indicate that South Africa has enough corn to meet local demand and allow for exports as well.
U.S. corn demand has improved recently. According to traders, U.S. corn prices are low in comparison to their competitors. Private exporters have sold 124,335 tonnes of U.S. corn to Mexico and 141,000 tonnes to unknown destinations.
SOYBEANS:
Soybean futures are trading at their weakest since mid-December. There are fears that the Coronavirus outbreak in China may curb demand. Such fears are weighing heavily on commodity markets in general. U.S. soybean export inspections were down this past week but were in line with trade expectations.
Brazil’s soybean acreage has been forecast to be 91.2 million acres, and if the weather cooperates, Brazil is expected to overtake the U.S. as the world’s largest producer of soybeans.
WHEAT:
Over the past few months China has purchased approximately 1 million tonnes of wheat from Australia, Canada, and France as part of its 9.6 million tonne annual wheat quota that China allocates to buyers. The most recent purchase was for 400,000 tonnes from Australia. This was surprising given the recent trade agreement between the U.S. and China, in addition to Australian wheat having strong premiums to global wheat prices.
Australia’s major exporting states have exported just over 3 million tonnes of wheat since October. This is almost at the halfway mark of their exportable surplus of wheat for this marketing year.
2019 cash prices for January 29, 2020, at the market close, are as follows:
SWW at $282.40/mt ($7.69/bu), HRW at $289.68/mt ($7.88/bu),
HRS at $245.30/mt ($6.68/bu), and SRW at $282.40/mt ($7.69/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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