[Farmmarketnews] Wednesday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Jul 29 15:30:24 EDT 2020
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, July 29
(All Bases in CAD)
Exchange rate was 1.3339 down 0.0021
Chicago corn closed slightly to moderately lower.
SEP20 HI 3.21 1/2 DEC20 HI 3.31 1/2
LOW 3.15 1/4 LOW 3.26
CLOSE3.15 1/2 Down 4 1/2 CLOSE 3.26 1/4 Down 3 3/4
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 1.55 4.71 185.23 0.95 4.21 165.84
CK High 1.55 4.71 185.23 1.00 4.26 167.81
CK Avg 1.55 0.37 4.71 185.23 0.96 -0.10 4.22 166.17
Essex Cty 1.55 4.71 185.23 0.95 4.21 165.84
Mdsx Low 1.55 4.71 185.23 0.95 4.21 165.84
Mdsx High 1.55 4.71 185.23 1.00 4.26 167.81
Mdsx Avg 1.55 0.37 4.71 185.23 0.98 -0.09 4.24 166.82
Hensall 1.57 4.72 185.88 1.02 4.28 168.46
Bruce 1.55 4.71 185.23 1.00 4.26 167.81
Putnam 1.55 4.71 185.23 0.95 4.21 165.84
Burford 1.55 4.71 185.23 0.95 4.21 165.84
Port Perry 1.55 4.71 185.23 1.25 4.51 177.65
Norfolk 1.55 4.71 185.23 0.95 4.21 165.84
Palmerston 1.46 4.62 181.68 0.96 4.22 166.23
Varna 1.55 4.71 185.23 1.00 4.26 167.81
Trenton 1.55 4.71 185.23 1.25 4.51 177.65
Winchester 1.55 4.71 185.23 1.40 4.66 183.55
North Gower 1.50 4.66 183.26 1.45 4.71 185.52
Vankleek HilN/A 1.17 4.43 174.50
Huron FOB 1.77 4.93 193.89 1.07 4.33 170.56
Kent FOB 1.75 4.91 193.10 1.05 4.31 169.78
Lamb FOB 1.72 4.88 191.92 1.00 4.26 167.81
Mdsx FOB N/A 1.80 1.80N/A 1.10 4.36 171.74
FOB SW Que 2.09 5.25 206.49N/A
Track 1.93 5.08 199.99N/A
PROCESSORS
Chat-Eth N/A N/A 1.83N/A N/A
Jhnstwn-Eth N/A N/A N/A N/A N/A
Aylmer-Eth 1.92 2.00 2.00 1.80 5.08 199.79 1.25 4.51 177.65
Sarn-Eth N/A N/A 2.00N/A 1.15 4.41 173.71
London-Ing N/A N/A N/A 1.40 1.30 4.56 179.62
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 4.81 189.46
W O Feed 1.98 5.13 202.06
US Rep 1.86 5.02 197.43
Toledo El. -0.07 3.09 121.58 -0.27 3.00 117.92
TRANSFER
Pt. Colb 2.00 5.16 202.94 1.35 4.61 181.59
Prescott 1.78 4.94 194.28 1.40 4.66 183.55
HI SD CRN 1.00 4.26 1/4
*Wet Bid
Exchange rate was 1.3339 down 0.0021
Chicago soybeans closed narrowly mixed.
NOV20 HI 8.89 1/4 NOV20 HI 8.89 1/4
LOW 8.83 1/2 LOW 8.83 1/2
CLOSE8.85 1/4 Down 2 1/4 CLOSE 8.85 1/4 Down 2 1/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt Basis U.S. $/bu $/mt
ELEVATORS +NOV20+NOV20+NOV20
CK Low 2.60 11.45 420.81 2.50 11.35 417.13
CK High 2.65 11.50 422.64 2.60 11.45 420.81
CK Average 2.62 -0.25 11.47 421.42 2.53 -0.33 11.39 418.36
Essex Cty 2.60 11.45 420.81 2.45 11.30 415.30
Mdsx Low 2.58 11.43 420.07 2.48 11.33 416.40
Mdsx High 2.60 11.45 420.81 2.50 11.35 417.13
Mdsx Average2.59 -0.27 11.44 420.44 2.49 -0.36 11.34 416.77
Hensall 2.67 11.52 423.26 2.57 11.42 419.58
Bruce 2.60 11.45 420.81 2.50 11.35 417.13
Putnam 2.60 11.45 420.81 2.50 11.35 417.13
Burford 2.65 11.50 422.64 2.55 11.40 418.97
Port Perry 2.60 11.45 420.81 2.50 11.35 417.13
Norfolk 2.60 11.45 420.81 2.50 11.35 417.13
Palmerston 2.54 11.39 418.60 2.48 11.33 416.40
Varna 2.64 11.49 422.28 2.60 11.45 420.81
Trenton N/A 2.60 11.45 420.81
Winchester 2.65 11.50 422.64 2.65 11.50 422.64
North Gower 2.62 11.47 421.54 2.65 11.50 422.64
Vankleek Hil N/A 2.80 11.65 428.16
Huron FOB 2.77 11.62 427.05 2.63 11.48 421.91
Kent FOB 2.60 11.45 420.81 2.50 11.35 417.13
Lambton FOB 2.60 11.45 420.81 2.65 11.50 422.64
Mdsx FOB N/A 2.77 2.61 N/A 2.58 11.43 420.07
PROCESSORS
Windsor 2.85 11.70 429.99 2.69 11.54 424.11
TRANSFER
Hamilton 3.10 11.95 439.18 2.95 11.80 433.67
Prescott N/A 3.00 11.85 435.50
Port Colborn2.98 11.83 434.77 2.86 11.71 430.36
Toledo El. 0.00 8.85 325.27 -0.33 8.52 313.00
Exchange rate was 1.3339 down 0.0021
Chicago wheat closed slightly to moderately higher.
SEP20 HI 5.33 1/4 JUL21 HI 5.47
LOW 5.23 1/2 LOW 5.40 1/2
CLOSE 5.32 3/4 Up 9 1/4 CLOSE 5.46 1/2 Up 6
Minni wheat closed slightly higher.
SEP20 HI 5.12 3/4 SEP21 HI 5.63 1/2
LOW 5.06 1/2 LOW 5.60 1/4
CLOSE 5.11 Up 4 3/4 CLOSE 5.63 1/2 Up 3 1/4
GFO Cash Wheat Prices - DEL Terminal
Harvest 20 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.51 1.78 1.51 1.11
CAD $/bu 6.84 7.11 6.84 6.22
CAD $/tonne 251.31 261.11 251.31 228.39
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 1.24 1.48 1.04 N/A 1.50 1.57 1.10 N/A
Hensall 1.35 N/A 1.10 N/A 1.35 N/A 1.10 N/A
Trenton N/A N/A 1.10 N/A N/A N/A 1.10 N/A
Bruce 1.20 1.45 1.10 0.95 1.20 1.45 1.10 N/A
Essex N/A N/A 1.05 N/A N/A N/A 1.10 N/A
Norwich 1.35 N/A 1.10 N/A 1.35 N/A 1.10 N/A
Port Hope N/A N/A 1.10 N/A N/A N/A 1.10 N/A
Kent Bridge 1.35 N/A 1.10 N/A 1.35 N/A 1.10 N/A
Chatham N/A N/A 1.05 N/A N/A N/A 1.10 N/A
Brigden N/A N/A 1.05 N/A N/A N/A 1.10 N/A
Palmerston N/A 1.52 1.12 1.05 N/A 1.65 1.18 0.75
Varna 1.35 1.50 1.10 N/A 1.35 1.50 1.10 N/A
Mitchell 1.35 1.45 1.10 N/A 1.35 1.45 1.10 N/A
Thornton N/A N/A N/A 1.26 N/A N/A N/A N/A
North Gower N/A 1.60 1.40 1.05 N/A 1.66 1.36 1.00
W O Feed 1.63
TERMINAL
Port Colbor N/A N/A 1.51 N/A N/A N/A 1.50 N/A
PROCESSORS
Toledo FM N/A N/A 1.91 N/A N/A N/A N/A N/A
Toledo El. 5.38US 7.17CA 5.42US 7.23CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 21 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.57 1.70 1.50 1.09
CAD $/bu 7.03 7.17 6.97 6.73
CAD $/tonne 258.46 263.37 256.00 247.17
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 477.20
DDG's FOB Srn & Aylm 185.00 - 205.00
---
Ontario Grain Market Commentary for July 29, 2020
By Todd Austin, Grain Farmers of Ontario
Wednesday, July 29, 2020
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT Sept 3.15½ ↓ 12 Cents
Soybeans CBOT Sept 8.84½ ↓ 9½ Cents
Wheat CBOT Sept 5.32¾ ↓ 2¾ Cents
Wheat Minn. Sept 5.11 ↓ 3¾ Cents
Wheat Kansas Sept 4.45¾ ↓ 2¾ Cents
Oats CBOT Sept 2.82 ↑ 1¼ Cents
Canadian $ Sept 0.7493 ↑ 42 Points
CORN:
U.S. corn ratings improved this past week to 72% good-to-excellent, up 3 percentage points from last week. Nine states reported improvements, while eight states indicated declines in conditions.
Corn prices ticked higher in the beginning of July on acreage and production estimate reductions. Demand concerns of the U.S. corn crop have eroded those futures gains. Gasoline usage is down, creating a domino effect on ethanol production. Export markets are crucial for an increase in demand for U.S. corn. Recently, China has purchased both new and old crop corn from the U.S. However, future sales competition from Brazil and the Ukraine may slow this export pace or prevent U.S. sales from expanding further.
SOYBEANS:
According to the most recent USDA Crop Progress Report, soybean ratings are also sitting at 72% good-to-excellent. Twelve states have indicated that the soybean crop has improved, while five states noted a decline in conditions.
Soybean futures have been trending higher since May, although recent increases in the crop condition are helping to reinforce expectations of a large U.S. soybean harvest. This has put some pressure on the futures market over the past few days. On the demand side, both China and Mexico continue to buy U.S. soybeans.
WHEAT:
According to the International Grains Council (IGC), world wheat production in 2020-2021 is forecast at 762 million tonnes. This is down 6 million tonnes from the June report. The 2021 global wheat carryout is expected to be 288 million tonnes, 2 million tonnes lower than the previous estimate. The carryover is 12 million tonnes higher that the 2020 carryover.
Wheat harvest continues in both the U.S. and Ontario. Approximately 81% of the U.S. winter wheat crop is harvested. In Ontario, combines continue to roll, between local rain showers. Quality overall remains good.
2020 harvest prices for July 29, 2020, at the market close, are as follows:
SWW at $251.44/mt ($6.84/bu), HRW at $261.25/mt ($7.11/bu) + protein,
HRS at $ 230.48/mt ($6.27/bu) + protein, and SRW at $251.44 /mt ($6.84/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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