[Farmmarketnews] Wednesday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Jun 3 15:38:12 EDT 2020
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, June 3
(All Bases in CAD)
Exchange rate was 1.3487 down 0.0030
Chicago corn closed narrowly mixed.
JUL20 HI 3.24 1/2 DEC20 HI 3.38 3/4
LOW 3.21 1/4 LOW 3.36
CLOSE3.24 Down 1/4 CLOSE 3.38 1/4 Up 1/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt U.S. $/bu $/mt Cntrct U.S. $/bu $/mt
ELEVATORS +SEP20+SEP20+DEC20
CK Low 1.25 4.49 176.76 0.90 4.28 168.59
CK High 1.30 4.54 178.73 0.95 4.33 170.56
CK Avg 1.29 0.12 4.53 178.40 0.91 -0.20 4.29 168.92
Essex Cty 1.30 4.54 178.73 0.90 4.28 168.59
Mdsx Low 1.30 4.54 178.73 0.90 4.28 168.59
Mdsx High 1.30 4.54 178.73 0.95 4.33 170.56
Mdsx Avg 1.30 0.13 4.54 178.73 0.93 -0.19 4.31 169.58
Hensall 1.32 4.56 179.39 0.97 4.35 171.22
Bruce 1.30 4.54 178.73 0.95 4.33 170.56
Putnam 1.30 4.54 178.73 0.90 4.28 168.59
Burford 1.30 4.54 178.73 0.90 4.28 168.59
Port Perry 1.40 4.64 182.67 1.05 4.43 174.50
Norfolk 1.30 4.54 178.73 0.90 4.28 168.59
Palmerston 1.17 4.41 173.61 0.87 4.25 167.41
Varna 1.30 4.54 178.73 0.95 4.33 170.56
Trenton 1.40 4.64 182.67 1.05 4.43 174.50
Winchester 1.45 4.69 184.64 1.45 4.83 190.25
North Gower 1.33 4.57 179.91 1.33 4.71 185.52
Vankleek HilN/A 0.92 4.30 169.38
Huron FOB 1.43 4.67 183.85 0.95 4.33 170.56
Kent FOB 1.35 4.59 180.70 1.00 4.38 172.53
Lamb FOB 1.20 4.44 174.80 0.95 4.33 170.56
Mdsx FOB 1.45N/A N/A N/A 4.69 184.64 0.90 4.28 168.59
FOB SW Que 1.90 5.14 202.35N/A
Track 1.53 4.77 187.59N/A
PROCESSORS
Chat-Eth N/A N/A 1.36 1.34 N/A
Jhnstwn-Eth N/A N/A N/A N/A N/A
Aylmer-Eth 1.45 1.53 1.58 1.60 4.69 184.64 1.20 4.58 180.41
Sarn-Eth N/A N/A N/A N/A N/A
London-Ing N/A N/A N/A N/A 1.25 4.63 182.37
Pt.Colb-Ing N/A N/A N/A N/A N/A
Cardnl-Ing N/A 1.95 2.00 1.96 1.55 4.93 194.18
W O Feed 1.62 4.86 191.33
US Rep 1.81 5.05 198.81
Toledo El. -0.07 3.17 124.90 -0.40 2.98 117.23
TRANSFER
Pt. Colb 1.80 5.04 198.42 1.35 4.73 186.31
Prescott 1.93 5.17 203.53N/A
HI SD CRN 0.95 4.33 1/4
*Wet Bid
Exchange rate was 1.3487 down 0.0030
Chicago soybeans closed slightly higher.
JUL20 HI 8.58 NOV20 HI 8.67
LOW 8.51 1/4 LOW 8.61
CLOSE8.57 1/2 Up 7 CLOSE 8.66 1/4 Up 5 3/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt
ELEVATORS +JUL2+AUG2+NOV20
CK Low 2.58 11.16 409.882.35 11.01 404.64
CK High 2.60 11.18 410.612.45 11.11 408.31
CK Average 2.60 -0.2911.17 410.492.43 -0.4411.09 407.46
Essex Cty 2.60 11.18 410.612.40 11.06 406.48
Mdsx Low 2.56 11.14 409.142.39 11.05 406.11
Mdsx High 2.60 11.18 410.612.45 11.11 408.31
Mdsx Average 2.58 -0.3011.16 409.882.42 -0.4511.08 407.21
Hensall 2.60 11.18 410.612.42 11.08 407.09
Bruce 2.60 11.18 410.612.40 11.06 406.48
Putnam 2.60 11.18 410.612.45 11.11 408.31
Burford 2.63 11.21 411.712.46 11.12 408.68
Port Perry 2.58 11.16 409.882.41 11.07 406.84
Norfolk 2.60 11.18 410.612.45 11.11 408.31
Palmerston 2.59 11.17 410.242.44 11.10 407.95
Varna 2.60 11.18 410.612.40 11.06 406.48
Trenton 2.60 11.18 410.612.40 11.06 406.48
Winchester 2.60 11.18 410.612.35 11.01 404.64
North Gower 2.55 11.13 408.772.53 11.19 411.25
Vankleek Hill N/A 2.47 11.13 409.05
Huron FOB 2.75 11.33 416.122.50 11.16 410.15
Kent FOB 2.85 11.43 419.802.45 11.11 408.31
Lambton FOB 2.80 11.38 417.962.40 11.06 406.48
Middlesex FOB2.82 2.82 N/A N/A 11.40 418.692.51 11.17 410.52
PROCESSORS
Windsor 3.13 11.71 430.092.68 11.34 416.77
TRANSFER
Hamilton 3.20 11.78 432.662.90 11.56 424.85
Prescott N/A 2.84 11.50 422.64
Port Colborne3.03 11.61 426.412.85 11.51 423.01
Toledo El. -0.11 8.47 311.11-0.40 8.26 303.43
Exchange rate was 1.3487 down 0.0030
Chicago wheat closed slightly higher.
JUL20 HI 5.15 1/2 SEP20 HI 5.19 1/4
LOW 5.06 1/2 LOW 5.11 1/4
CLOSE 5.12 Up 4 CLOSE 5.15 3/4 Up 3 1/2
Minni wheat closed slightly higher.
JUL20 HI 5.21 1/2 SEP20 HI 5.32 1/4
LOW 5.17 1/4 LOW 5.28
CLOSE 5.20 1/4 Up 3 3/4 CLOSE 5.31 1/4 Up 3 3/4
GFO Cash Wheat Prices - DEL Terminal
Harvest 19 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.92 2.12 1.92 1.21
CAD $/bu 7.04 7.24 7.04 6.41
CAD $/tonne 258.69 266.12 258.69 235.52
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 1.16 N/A
London 1.80 2.01 1.53 N/A 1.36 1.56 1.16 N/A
Hensall 1.55 N/A 1.55 N/A 1.31 N/A 1.16 N/A
Trenton N/A N/A N/A N/A N/A N/A 1.31 N/A
Bruce 1.50 1.95 1.55 1.60 1.26 1.56 1.16 1.25
Essex N/A N/A N/A N/A N/A N/A 1.11 N/A
Norwich 1.55 N/A 1.55 N/A 1.31 N/A 1.16 N/A
Port Hope N/A N/A 1.55 N/A N/A N/A 1.36 N/A
Kent Bridge 1.55 N/A 1.55 N/A 1.31 N/A 1.16 N/A
Chatham N/A N/A N/A N/A N/A N/A 1.16 N/A
Brigden N/A N/A N/A N/A N/A N/A 1.16 N/A
Palmerston N/A 1.92 1.52 1.61 N/A 1.60 1.18 1.11
Varna 1.75 1.95 1.55 N/A 1.26 1.56 1.16 N/A
Mitchell 1.55 1.70 1.55 N/A 1.31 1.51 1.16 N/A
Thornton N/A N/A N/A 1.53 N/A N/A N/A N/A
North Gower N/A 1.85 1.60 0.95 N/A 1.60 1.18 0.95
W O Feed 1.97
TERMINAL
Port Colbor N/A N/A 1.87 N/A N/A N/A 1.49 N/A
PROCESSORS
Toledo FM N/A N/A 1.79 N/A N/A N/A 1.74 N/A
Toledo El. 5.12US 6.91CA 5.12US 6.90CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 20 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.46 1.80 1.46 1.18
CAD $/bu 6.62 6.96 6.62 6.49
CAD $/tonne 243.20 255.59 243.20 238.49
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 483.15
DDG's FOB Srn & Aylm 260.00
---
Ontario Grain Market Commentary for June 3, 2020
By Todd Austin, Grain Farmers of Ontario
Wednesday, June 3, 2020
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT July 3.24 ↑ 3½ cents
Soybeans CBOT July 8.57½ ↑ 9 cents
Wheat CBOT July 5.12 ↑ 7½ cents
Wheat Minn. July 5.20¾ ↑ 7 Cents
Wheat Kansas July 4.57¾ ↑ 6 Cent
Oats CBOT July 3.31¾ ↑ 4½ Cents
Canadian $ June 0.7414 ↑ 158 Points
CORN:
U.S. corn is 93% planted, which is above the five-year average for this time of the year. Michigan and Ohio are just lagging the national average at approximately 80% complete. Emergence is above the average as well this year, sitting at 78%.
U.S. ethanol fuel production increased by over 9% in the week ending May 22, while stocks of fuel ethanol fell by nearly 2% according to data released at the end of May. This marks the fourth consecutive week of production increases since the market down-turn due to COVID-19.
SOYBEANS:
U.S. soybean planting continues with 75% of expected acres in the ground. Last year at this time, U.S. farmers had only planted 36% of the projected soybean acreage. Emergence is 52%.
Brazil’s May soybean exports reached 15.5 million tonnes. Of this, almost three quarters were destined for China. After some talk of trade disputes with the U.S., China recently bought over 130,000 tonnes of soybeans from the U.S.
WHEAT:
U.S spring wheat planting is 91% complete, just shy of the five-year average of 96%.
Flour production in the U.S. in the first quarter of 2020 was 107.272 million cwts (approximately 5.4 million tonnes) up 187,000 tonnes from the first quarter of 2019. Grind was 86.3% of six-day capacity up from 85% in the fourth quarter of 2019.
GASC has issued their first tender of the 2020 marketing season. They are looking for 55,000 – 60,000 tonnes of cargo for July 10-25 loading period. This tender comes at a time when the Black Sea region harvest may be delayed due to weather conditions.
2020 harvest prices for June 3, 2020, at the market close, are as follows:
SWW at $243.21/mt ($6.62bu), HRW at $255.60/mt ($6.96 /bu) + protein,
HRS at $ 238.51/mt ($6.49/bu) + protein, and SRW at $243.21 /mt ($6.62/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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