[Farmmarketnews] Wednesday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Jul 22 15:27:56 EDT 2020
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, July 22
(All Bases in CAD)
Exchange rate was 1.342 down 0.0012
Chicago corn closed slightly to moderately higher.
SEP20 HI 3.28 DEC20 HI 3.35
LOW 3.22 1/4 LOW 3.30 1/4
CLOSE3.27 1/2 Up 4 3/4 CLOSE 3.34 3/4 Up 4
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 1.50 4.78 187.98 0.95 4.30 169.19
CK High 1.55 4.83 189.95 1.00 4.35 171.15
CK Avg 1.51 0.29 4.78 188.31 0.97 -0.14 4.31 169.84
Essex Cty 1.55 4.83 189.95 0.95 4.30 169.19
Mdsx Low 1.50 4.78 187.98 0.95 4.30 169.19
Mdsx High 1.50 4.78 187.98 0.95 4.30 169.19
Mdsx Avg 1.50 0.28 4.78 187.98 0.95 -0.15 4.30 169.19
Hensall 1.50 4.78 187.98 1.00 4.35 171.15
Bruce 1.45 4.73 186.02 1.00 4.35 171.15
Putnam 1.50 4.78 187.98 0.95 4.30 169.19
Burford 1.50 4.78 187.98 0.95 4.30 169.19
Port Perry 1.55 4.83 189.95 1.25 4.60 181.00
Norfolk 1.55 4.83 189.95 0.95 4.30 169.19
Palmerston 1.39 4.67 183.65 1.00 4.35 171.15
Varna 1.45 4.73 186.02 1.00 4.35 171.15
Trenton 1.55 4.83 189.95 1.25 4.60 181.00
Winchester 1.50 4.78 187.98 1.40 4.75 186.90
North Gower 1.45 4.73 186.02 1.45 4.80 188.87
Vankleek HilN/A 1.08 4.43 174.30
Huron FOB 1.63 4.91 193.10 1.05 4.40 173.12
Kent FOB 1.75 5.03 197.83 1.05 4.40 173.12
Lamb FOB 1.71 4.99 196.25 1.10 4.45 175.09
Mdsx FOB 1.70 1.80N/A N/A 4.98 195.86 1.10 4.45 175.09
FOB SW Que 2.10 5.38 211.60N/A
Track 1.96 5.23 205.90N/A
PROCESSORS
Chat-Eth N/A N/A 1.67N/A N/A
Jhnstwn-Eth N/A N/A N/A N/A N/A
Aylmer-Eth 1.92 1.96 1.90 1.50 5.20 204.52 1.25 4.60 181.00
Sarn-Eth N/A N/A 2.00N/A 1.15 4.50 177.06
London-Ing N/A N/A N/A 1.40 1.30 4.65 182.96
Pt.Colb-Ing N/A N/A N/A N/A N/A
Cardnl-Ing N/A N/A N/A 2.05 1.55 4.90 192.81
W O Feed 1.96 5.24 206.17
US Rep 1.93 5.21 204.91
Toledo El. -0.07 3.21 126.29 -0.27 3.08 121.20
TRANSFER
Pt. Colb 2.00 5.28 207.67 1.35 4.70 184.93
Prescott 1.71 4.99 196.25 1.35 4.70 184.93
HI SD CRN 1.00 4.34 3/4
*Wet Bid
Exchange rate was 1.342 down 0.0012
Chicago soybeans closed slightly higher.
NOV20 HI 8.98 NOV20 HI 8.98
LOW 8.88 1/4 LOW 8.88 1/4
CLOSE8.95 1/2 Up 2 1/2 CLOSE 8.95 1/2 Up 2 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 2.69 11.65 427.88 2.55 11.51 422.74
CK High 2.75 11.71 430.09 2.65 11.61 426.41
CK Average 2.73 -0.25 11.68 429.28 2.60 -0.36 11.56 424.57
Essex Cty 2.70 11.66 428.25 2.55 11.51 422.74
Mdsx Low 2.67 11.63 427.15 2.53 11.49 422.00
Mdsx High 2.75 11.71 430.09 2.60 11.56 424.57
Mdsx Average2.71 -0.26 11.67 428.62 2.57 -0.39 11.52 423.29
Hensall 2.70 11.66 428.37 2.60 11.56 424.57
Bruce 2.66 11.62 426.78 2.60 11.56 424.57
Putnam 2.75 11.71 430.09 2.60 11.56 424.57
Burford 2.74 11.70 429.72 2.60 11.56 424.57
Port Perry 2.69 11.65 427.88 2.55 11.51 422.74
Norfolk 2.75 11.71 430.09 2.60 11.56 424.57
Palmerston 2.74 11.70 429.72 2.55 11.51 422.74
Varna 2.66 11.62 426.78 2.60 11.56 424.57
Trenton N/A 2.60 11.56 424.57
Winchester N/A 2.60 11.56 424.57
North Gower 2.71 11.67 428.62 2.67 11.63 427.15
Vankleek Hil N/A 2.92 11.88 436.33
Huron FOB 2.75 11.71 430.09 2.60 11.56 424.57
Kent FOB 2.80 11.76 431.92 2.60 11.56 424.57
Lambton FOB 2.71 11.67 428.62 2.70 11.66 428.25
Mdsx FOB 2.79 2.86 N/A N/A 11.75 431.55 2.66 11.62 426.78
PROCESSORS
Windsor 3.00 11.96 439.27 2.80 11.76 431.92
TRANSFER
Hamilton 3.25 12.21 448.46 3.05 12.01 441.11
Prescott N/A 3.06 12.02 441.48
Port Colborn3.00 11.96 439.27 3.07 12.03 441.84
Toledo El. 0.00 8.96 329.04 -0.34 8.62 316.69
Exchange rate was 1.342 down 0.0012
Chicago wheat closed slightly to moderately higher.
SEP20 HI 5.40 1/4 JUL21 HI 5.50
LOW 5.23 3/4 LOW 5.38
CLOSE 5.34 1/2 Up 6 3/4 CLOSE 5.45 1/2 Up 5 3/4
Minni wheat closed slightly higher.
SEP20 HI 5.18 1/2 SEP21 HI 5.69
LOW 5.09 LOW 5.64
CLOSE 5.14 3/4 Up 4 1/4 CLOSE 5.65 1/4 Up 1 1/2
GFO Cash Wheat Prices - DEL Terminal
Harvest 20 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.56 1.83 1.56 1.16
CAD $/bu 6.90 7.17 6.90 6.30
CAD $/tonne 253.70 263.56 253.70 231.64
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 1.15 N/A N/A N/A 1.15 N/A
London 1.29 1.56 1.09 N/A 1.53 1.60 1.13 N/A
Hensall 1.40 N/A 1.15 N/A 1.35 N/A 1.10 N/A
Trenton N/A N/A 1.15 N/A N/A N/A 1.15 N/A
Bruce 1.25 1.55 1.15 0.95 1.20 1.50 1.10 N/A
Essex N/A N/A 1.15 N/A N/A N/A 1.15 N/A
Norwich 1.40 N/A 1.15 N/A 1.35 N/A 1.10 N/A
Port Hope N/A N/A 1.15 N/A N/A N/A 1.15 N/A
Kent Bridge 1.40 N/A 1.15 N/A 1.35 N/A 1.10 N/A
Chatham N/A N/A 1.15 N/A N/A N/A 1.15 N/A
Brigden N/A N/A 1.15 N/A N/A N/A 1.15 N/A
Palmerston N/A 1.56 1.16 1.09 N/A 1.69 1.22 0.81
Varna 1.40 1.55 1.15 N/A 1.35 1.50 1.10 N/A
Mitchell 1.40 1.50 1.15 N/A 1.35 1.45 1.10 N/A
Thornton N/A N/A N/A 1.29 N/A N/A N/A N/A
North Gower N/A 1.55 1.38 1.12 N/A 1.62 1.36 1.00
W O Feed 1.70
TERMINAL
Port Colbor N/A N/A 156.00 N/A N/A N/A 1.53 N/A
PROCESSORS
Toledo FM N/A N/A 1.96 N/A N/A N/A N/A N/A
Toledo El. 5.40US 7.24CA 5.41US 7.27CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 21 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.61 1.75 1.54 1.14
CAD $/bu 7.07 7.20 7.00 6.79
CAD $/tonne 259.67 264.61 257.20 249.66
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 476.65
DDG's FOB Srn & Aylm 185.00 - 195.00
---
Ontario Grain Market Commentary for July 22, 2020
By Todd Austin, Grain Farmers of Ontario
Wednesday, July 22, 2020
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT Sept 3.27½ ↑ 1 ¼ Cents
Soybeans CBOT Sept 8.94 ↑ 13 ¼ Cents
Wheat CBOT Sept 5.35½ ↓ 16 ¼ Cents
Wheat Minn. Sept 5.14¾ ↓ 12 ½ Cents
Wheat Kansas Sept 4.48½ ↓ 11 Cents
Oats CBOT Sept 2.80¾ ↑ 4 ½ Cents
Canadian $ Sept 0.7451 ↑ 45 Points
CORN:
The latest corn condition report estimates that the U.S. corn crop is 69% good-to-excellent. This rating is unchanged from last week. 59% of the corn crop is in the silk growth stage, 5 percentage points ahead of the five-year average.
Weekly ethanol production increased for the twelfth consecutive week, according to the EIA ethanol Production report for July 10. Since late April, U.S. ethanol production has increased by 394,000 barrels per day. Current statistics place production capacity at approximately 88% of normal. It remains to be seen whether or not production will continue to increase, or if there will be a decline in gasoline demand and therefore ethanol demand as the U.S. continues to deal with Covid outbreaks.
SOYBEANS:
The USDA has rated 69% of the U.S. soybean crop as good-to-excellent. This is an increase of 1 percentage point from last week. 25% of the crop is setting pods. This data is just ahead of the five-year average.
China continues to buy U.S. soybeans. In the past two weeks China has purchased 1.298 million tonnes. This comes at a time when Brazil’s export pace is slowing down. Brazil has sold over 90% of its soybean crop for this year and has sold nearly 40% of next year’s crop. The Brazilian Real has lost more than 40% of its value against the U.S. dollar in the past 12 months. In international markets this has made Brazilian soybeans highly competitive.
WHEAT:
Wheat prices had a one-day rally on rumours of China buying soft red winter wheat from the U.S. This pushed Chicago wheat futures through some key resistance levels, finishing strongly higher on the day. However, by the end of the week, futures had given up much of those one-day gains. The soft red wheat purchase was a rumour, but China did buy 320,000 tonnes of hard wheat from the U.S. in July 2020.
For the 2020-2021 crop year, Australia is expected to produce 27 million tonnes of wheat. The end of a multi-year drought and better growing conditions due to some welcome rains in eastern wheat producing states of Australia have given farmers a decent start to their winter wheat season.
2020 harvest prices for July 22, 2020, at the market close, are as follows:
SWW at $253.72/mt ($6.91/bu), HRW at $263.58/mt ($7.17/bu) + protein,
HRS at $ 231.65/mt ($6.30/bu) + protein, and SRW at $253.72 /mt ($6.91/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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