[Farmmarketnews] Thursday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Thu Jul 2 15:25:54 EDT 2020
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, July 2
(All Bases in CAD)
Exchange rate was 1.3586 down 0.0009
Chicago corn closed moderately lower.
SEP20 HI 3.53 1/2 DEC20 HI 3.63
LOW 3.43 LOW 3.52 3/4
CLOSE3.43 1/2 Down 7 CLOSE 3.53 1/2 Down 7
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt U.S. $/bu $/mt Cntrct U.S. $/bu $/mt
ELEVATORS +SEP20+DEC20+DEC20
CK Low 1.35 4.79 188.38 0.90 4.44 174.60
CK High 1.35 4.79 188.38 0.95 4.49 176.57
CK Avg 1.35 0.09 4.79 188.38 0.91 -0.27 4.44 174.93
Essex Cty 1.35 4.79 188.38 0.90 4.44 174.60
Mdsx Low 1.35 4.79 188.38 0.90 4.44 174.60
Mdsx High 1.35 4.79 188.38 0.90 4.44 174.60
Mdsx Avg 1.35 0.09 4.79 188.38 0.90 -0.28 4.44 174.60
Hensall 1.37 4.80 189.03 0.92 4.45 175.25
Bruce 1.35 4.79 188.38 0.90 4.44 174.60
Putnam 1.35 4.79 188.38 0.90 4.44 174.60
Burford 1.35 4.79 188.38 0.90 4.44 174.60
Port Perry 1.50 4.94 194.28 1.10 4.64 182.47
Norfolk 1.35 4.79 188.38 0.90 4.44 174.60
Palmerston 1.41 4.85 190.74 1.00 4.54 178.54
Varna N/A 0.90 4.44 174.60
Trenton 1.50 4.94 194.28 1.10 4.64 182.47
Winchester 1.45 4.89 192.31 1.40 4.94 194.28
North Gower 1.40 4.84 190.35 1.40 4.94 194.28
Vankleek HilN/A 1.03 4.57 179.72
Huron FOB 1.70 5.14 202.16 0.90 4.44 174.60
Kent FOB 1.51 4.95 194.68 0.95 4.49 176.57
Lamb FOB 1.55 4.99 196.25 1.05 4.59 180.50
Mdsx FOB 1.60 1.60N/A N/A 5.04 198.22 1.00 4.54 178.54
FOB SW Que 2.10 5.54 217.90N/A
Track 1.77 5.21 204.91N/A
PROCESSORS
Chat-Eth N/A 1.60 1.64N/A N/A
Jhnstwn-Eth N/A N/A N/A N/A N/A
Aylmer-Eth 1.70 1.74 1.70 1.50 5.14 202.16 1.15 4.69 184.44
Sarn-Eth N/A N/A N/A N/A N/A
London-Ing N/A N/A N/A 1.30 1.20 4.74 186.41
Pt.Colb-Ing N/A N/A N/A N/A N/A
Cardnl-Ing N/A 2.00N/A 2.00 1.55 5.09 200.19
W O Feed 1.86 5.30 208.59
US Rep 1.98 5.42 213.18
Toledo El. -0.07 3.37 132.56 -0.27 3.26 128.46
TRANSFER
Pt. Colb 1.90 5.34 210.03 1.35 4.89 192.31
Prescott 2.01 5.45 214.36 1.45 4.99 196.25
HI SD CRN 0.95 4.48 1/2
*Wet Bid
Exchange rate was 1.3586 down 0.0009
Chicago soybeans closed slightly lower.
AUG20 HI 8.95 3/4 NOV20 HI 9.03
LOW 8.89 LOW 8.95 1/2
CLOSE8.91 1/4 Down 1/4 CLOSE 8.96 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 +AUG20+NOV20+NOV20
CK Low 2.85 11.76 432.20 2.55 11.52 423.20
CK High 2.85 11.76 432.20 2.65 11.62 426.87
CK Average 2.85 -0.25 11.76 432.20 2.58 -0.48 11.54 424.11
Essex Cty 2.85 11.76 432.20 2.55 11.52 423.20
Mdsx Low 2.83 11.74 431.46 2.53 11.50 422.46
Mdsx High 2.85 11.76 432.20 2.60 11.57 425.03
Mdsx Average2.84 -0.26 11.75 431.83 2.57 -0.49 11.53 423.75
Hensall 2.85 11.76 432.20 2.57 11.53 423.81
Bruce 2.85 11.76 432.20 2.55 11.52 423.20
Putnam 2.85 11.76 432.20 2.60 11.57 425.03
Burford 2.90 11.81 434.04 2.60 11.57 425.03
Port Perry 2.85 11.76 432.20 2.55 11.52 423.20
Norfolk 2.85 11.76 432.20 2.60 11.57 425.03
Palmerston 2.85 11.76 432.20 2.61 11.58 425.40
Varna 2.85 11.76 432.20 2.55 11.52 423.20
Trenton 2.85 11.76 432.20 2.60 11.57 425.03
Winchester 2.85 11.76 432.20 2.60 11.57 425.03
North Gower 2.80 11.71 430.36 2.65 11.62 426.87
Vankleek Hil N/A 2.77 11.74 431.28
Huron FOB 3.19 12.10 444.69 2.74 11.71 430.18
Kent FOB 2.95 11.86 435.87 2.55 11.52 423.20
Lambton FOB 3.00 11.91 437.71 2.70 11.67 428.71
Mdsx FOB 2.96 3.03 N/A N/A 11.87 436.24 2.82 11.79 433.12
PROCESSORS
Windsor 3.33 12.24 449.83 2.94 11.91 437.53
TRANSFER
Hamilton 3.35 12.26 450.57 3.05 12.02 441.57
Prescott N/A 3.09 12.06 443.04
Port Colborn3.20 12.11 445.06 3.22 12.19 447.81
Toledo El. 0.00 8.91 327.48 -0.34 8.63 317.00
Exchange rate was 1.3586 down 0.0009
Chicago wheat closed slightly to moderately lower.
SEP20 HI 4.99 1/4 JUL21 HI 5.18
LOW 4.88 1/2 LOW 5.10 3/4
CLOSE 4.92 Down 6 3/4 CLOSE 5.13 3/4 Down 4 1/2
Minni wheat closed slightly to moderately lower.
SEP20 HI 5.18 SEP21 HI 5.64
LOW 5.10 LOW 5.63 3/4
CLOSE 5.10 1/4 Down 7 1/4 CLOSE 5.64 Down 3 1/2
GFO Cash Wheat Prices - DEL Terminal
Harvest 20 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.42 1.76 1.42 1.22
CAD $/bu 6.34 6.68 6.34 6.32
CAD $/tonne 233.13 245.61 233.13 232.25
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 1.10 N/A N/A N/A 1.10 N/A
London 1.37 1.57 1.16 N/A 1.51 1.58 1.10 N/A
Hensall 1.25 N/A 1.10 N/A 1.25 N/A 1.10 N/A
Trenton N/A N/A 1.20 N/A N/A N/A 1.25 N/A
Bruce 1.20 1.50 1.10 1.20 1.20 1.50 1.10 N/A
Essex N/A N/A 1.10 N/A N/A N/A 1.05 N/A
Norwich 1.25 N/A 1.10 N/A 1.25 N/A 1.10 N/A
Port Hope N/A N/A 1.20 N/A N/A N/A 1.20 N/A
Kent Bridge 1.25 N/A 1.10 N/A 1.25 N/A 1.10 N/A
Chatham N/A N/A 1.10 N/A N/A N/A 1.10 N/A
Brigden N/A N/A 1.10 N/A N/A N/A 1.10 N/A
Palmerston N/A 1.56 1.14 1.15 N/A 1.62 1.21 0.87
Varna 1.20 1.50 1.10 N/A 1.20 1.50 1.10 N/A
Mitchell 1.25 1.45 1.10 N/A 1.25 1.45 1.10 N/A
Thornton N/A N/A N/A 0.98 N/A N/A N/A N/A
North Gower N/A 1.60 1.35 1.10 N/A 1.68 1.38 1.00
W O Feed 1.92
TERMINAL
Port Colbor N/A N/A 1.50 N/A N/A N/A 1.50 N/A
PROCESSORS
Toledo FM N/A N/A 2.04 N/A N/A N/A N/A N/A
Toledo El. 5.02US 6.82CA 5.09US 6.92CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 21 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.58 1.72 1.44 1.22
CAD $/bu 6.72 6.85 6.58 6.86
CAD $/tonne 246.82 251.81 241.82 251.94
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 490.76
DDG's FOB Srn & Aylm 185.00 - 195.00
---
Ontario Grain Market Commentary for July 1, 2020
By Todd Austin, Grain Farmers of Ontario
Wednesday, July 1, 2020
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT Sept 3.50½ ↑ 26¼ Cents
Soybeans CBOT Sept 8.91¼ ↑ 20½ Cent
Wheat CBOT Sept 4.98½ ↑ 17¼ Cents
Wheat Minn. Sept 5.17½ ↑ 1¼ Cents
Wheat Kansas Sept 4.42¾ ↑ 11½ Cent
Oats CBOT Sept 2.91¼ ↓ 13½ Cents
Canadian $ Sept 0.7362 ↑ 12 Points
CORN:
The USDA’s June acreage report puts corn acres at 92 million. The trade was expecting 95 million while the USDA March estimates for corn were 97 million acres. Corn acres are 5 million acres lower that what was reported in the March planting intentions.
Corn futures climbed on news of the USDA report. Corn futures are trading in areas not seen since the end of March and are currently trading over 30 cents higher than the recent lows in the market as of the date of this report.
SOYBEANS:
According to the USDA, U.S. farmers planted 84 million acres of soybeans. This was an increase of 300,000 acres from the March planting intentions report. The trade was expecting a larger increase in planted acres.
China has booked another 126,000 tonnes of soybeans from the U.S. for delivery in the 2020/2021 crop year. Even with the latest round of Chinese agriculture purchases, they are still well below the US-China Phase 1 trade deal levels.
WHEAT:
U.S. wheat harvest was 41% complete as of Sunday June 27. This pace, while in-line with the five-year average, was slower than what the trade was anticipating. With unfavourable growing conditions in the EU and Britain, wheat production is expected to drop 10%. There were solid wet periods during fall planting in France and Britain and dry conditions this spring affecting much of Europe.
2020 harvest prices for July 1, 2020, at the market close, are as follows:
SWW at $236.32/mt ($6.43/bu), HRW at $248.80/mt ($6.77/bu) + protein,
HRS at $ 236.32/mt ($6.42/bu) + protein, and SRW at $236.32 /mt ($6.43/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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