[Farmmarketnews] Wednesday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Jun 10 15:27:45 EDT 2020
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, June 10
(All Bases in CAD)
Exchange rate was 1.3367 down 0.0025
Chicago corn closed slightly lower.
JUL20 HI 3.28 DEC20 HI 3.43 1/4
LOW 3.24 1/4 LOW 3.40 1/4
CLOSE3.26 1/4 Down 1 1/4 CLOSE 3.41 1/2 Down 1 3/4
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 1.30 4.56 179.62 0.90 4.32 169.87
CK High 1.35 4.61 181.59 0.95 4.37 171.84
CK Avg 1.31 0.16 4.57 179.95 0.92 -0.17 4.33 170.53
Essex Cty 1.35 4.61 181.59 0.95 4.37 171.84
Mdsx Low 1.30 4.56 179.62 0.90 4.32 169.87
Mdsx High 1.30 4.56 179.62 0.95 4.37 171.84
Mdsx Avg 1.30 0.15 4.56 179.62 0.93 -0.17 4.34 170.86
Hensall 1.32 4.58 180.27 0.95 4.37 171.84
Bruce 1.35 4.61 181.59 0.95 4.37 171.84
Putnam 1.30 4.56 179.62 0.90 4.32 169.87
Burford 1.30 4.56 179.62 0.90 4.32 169.87
Port Perry 1.40 4.66 183.55 1.05 4.47 175.78
Norfolk 1.35 4.61 181.59 0.95 4.37 171.84
Palmerston 1.29 4.55 179.22 0.95 4.37 171.84
Varna 1.35 4.61 181.59 0.95 4.37 171.84
Trenton 1.45 4.71 185.52 1.10 4.52 177.75
Winchester 1.45 4.71 185.52 1.45 4.87 191.53
North Gower 1.35 4.61 181.59 1.40 4.82 189.56
Vankleek HilN/A 0.93 4.35 171.06
Huron FOB 1.43 4.69 184.74 0.90 4.32 169.87
Kent FOB 1.40 4.66 183.55 1.00 4.42 173.81
Lamb FOB 1.37 4.63 182.37 0.90 4.32 169.87
Mdsx FOB 1.45N/A N/A N/A 4.71 185.52 0.90 4.32 169.87
FOB SW Que 1.82 5.08 200.09N/A
Track 1.54 4.80 188.87N/A
PROCESSORS
Chat-Eth N/A N/A 1.46 1.49 N/A
Jhnstwn-Eth N/A N/A N/A N/A N/A
Aylmer-Eth N/A 1.53 1.58 1.55 1.10 4.52 177.75
Sarn-Eth N/A N/A N/A N/A N/A
London-Ing N/A N/A N/A N/A 1.15 4.57 179.72
Pt.Colb-Ing N/A N/A N/A N/A N/A
Cardnl-Ing N/A N/A 2.00 1.95 1.50 4.92 193.49
W O Feed 1.67 4.94 194.28
US Rep 1.77 5.03 198.12
Toledo El. -0.07 3.20 125.81 -0.40 3.01 118.65
TRANSFER
Pt. Colb 1.80 5.06 199.30 1.35 4.77 187.59
Prescott 1.99 5.25 206.78N/A
HI SD CRN 0.95 4.36 1/2
*Wet Bid
Exchange rate was 1.3367 down 0.0025
Chicago soybeans closed narrowly mixed.
JUL20 HI 8.69 1/4 NOV20 HI 8.80 3/4
LOW 8.63 LOW 8.75
CLOSE8.65 1/2 Up 2 1/4 CLOSE 8.77 Up 1/2
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt Basis U.S. $/bu $/mt
ELEVATORS +JUL20+AUG20+NOV20
CK Low 2.57 11.23 412.45 2.37 11.14 409.32
CK High 2.65 11.31 415.39 2.40 11.17 410.43
CK Average 2.60 -0.23 11.26 413.67 2.40 -0.42 11.17 410.24
Essex Cty 2.60 11.26 413.55 2.35 11.12 408.59
Mdsx Low 2.55 11.21 411.71 2.35 11.12 408.59
Mdsx High 2.60 11.26 413.55 2.40 11.17 410.43
Mdsx Average2.58 -0.25 11.23 412.63 2.38 -0.43 11.15 409.51
Hensall 2.63 11.29 414.78 2.43 11.20 411.65
Bruce 2.65 11.31 415.39 2.45 11.22 412.26
Putnam 2.60 11.26 413.55 2.40 11.17 410.43
Burford 2.62 11.28 414.29 2.42 11.19 411.16
Port Perry 2.57 11.23 412.45 2.37 11.14 409.32
Norfolk 2.60 11.26 413.55 2.40 11.17 410.43
Palmerston 2.59 11.25 413.18 2.42 11.19 411.16
Varna 2.65 11.31 415.39 2.45 11.22 412.26
Trenton 2.60 11.26 413.55 2.40 11.17 410.43
Winchester 2.65 11.31 415.39 2.40 11.17 410.43
North Gower 2.60 11.26 413.55 2.50 11.27 414.10
Vankleek Hil N/A 2.50 11.27 414.10
Huron FOB 2.72 11.38 417.96 2.45 11.22 412.26
Kent FOB 2.85 11.51 422.74 2.40 11.17 410.43
Lambton FOB 2.80 11.46 420.90 2.40 11.17 410.43
Mdsx FOB 2.74 2.80 N/A N/A 11.40 418.69 2.50 11.27 414.10
PROCESSORS
Windsor 3.02 11.68 428.98 2.66 11.43 419.98
TRANSFER
Hamilton 3.15 11.81 433.76 2.85 11.62 426.96
Prescott N/A 2.84 11.61 426.59
Port Colborn2.94 11.60 426.04 2.78 11.55 424.39
Toledo El. -0.11 8.55 314.09 -0.40 8.37 307.51
Exchange rate was 1.3367 down 0.0025
Chicago wheat closed narrowly mixed.
JUL20 HI 5.09 1/4 SEP20 HI 5.15
LOW 5.02 1/2 LOW 5.08 1/2
CLOSE 5.06 1/4 Up 1 3/4 CLOSE 5.11 1/2 Up 3/4
Minni wheat closed slightly lower.
JUL20 HI 5.28 SEP20 HI 5.40 1/4
LOW 5.18 3/4 LOW 5.31 1/4
CLOSE 5.19 1/2 Down 4 3/4 CLOSE 5.31 3/4 Down 4 3/4
GFO Cash Wheat Prices - DEL Terminal
Harvest 19 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.84 2.04 1.84 1.15
CAD $/bu 6.90 7.10 6.90 6.34
CAD $/tonne 253.56 260.93 253.56 233.06
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 1.10 N/A
London 1.72 1.92 1.45 N/A 1.27 1.47 1.07 N/A
Hensall 1.50 N/A 1.50 N/A 1.25 N/A 1.10 N/A
Trenton N/A N/A N/A N/A N/A N/A 1.30 N/A
Bruce 1.45 1.90 1.50 1.55 1.20 1.50 1.10 1.20
Essex N/A N/A 1.50 N/A N/A N/A 1.05 N/A
Norwich 1.50 N/A 1.50 N/A 1.25 N/A 1.10 N/A
Port Hope N/A N/A 1.50 N/A N/A N/A 1.25 N/A
Kent Bridge 1.50 N/A 1.50 N/A 1.25 N/A 1.10 N/A
Chatham N/A N/A N/A N/A N/A N/A 1.10 N/A
Brigden N/A N/A N/A N/A N/A N/A 1.10 N/A
Palmerston N/A 1.83 1.49 1.56 N/A 1.51 1.10 1.06
Varna 1.70 1.90 1.50 N/A 1.20 1.50 1.10 N/A
Mitchell 1.50 1.65 1.50 N/A 1.25 1.45 1.10 N/A
Thornton N/A N/A N/A 1.39 N/A N/A N/A N/A
North Gower N/A 1.75 1.55 0.90 N/A 1.50 1.25 1.00
W O Feed 1.86
TERMINAL
Port Colbor N/A N/A 1.79 N/A N/A N/A 1.40 N/A
PROCESSORS
Toledo FM N/A N/A 1.70 N/A N/A N/A 1.66 N/A
Toledo El. 5.06US 6.77CA 5.07US 6.77CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 20 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.39 1.72 1.39 1.12
CAD $/bu 6.50 6.84 6.50 6.44
CAD $/tonne 238.97 251.25 238.97 236.63
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 483.70
DDG's FOB Srn & Aylm 225.00
---
Ontario Grain Market Commentary for June 10, 2020
By Todd Austin, Grain Farmers of Ontario
Wednesday, June 10, 2020
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT July 3.26 ¼ ↑ 2¼ cents
Soybeans CBOT July 8.65½ ↑ 8 cents
Wheat CBOT July 5.06¼ ↓ 5¾ cents
Wheat Minn. July 5.19½ ↓ 1¼ Cents
Wheat Kansas July 4.57½ ↓ ¼ Cent
Oats CBOT July 3.13½ ↓ 18¼ Cents
Canadian $ June 0.7501 ↑ 87 Points
CORN:
The USDA estimates that 97% of the corn crop has been planted. This is ahead of the five-year average of 94%. Of the corn that has been planted, 89% has emerged. The corn crop condition rating is 75% good-to-excellent.
With a predicted increase in global coarse grain production, the U.S. is expected to face strong global export competition. The U.S is anticipating to have 30% of the global corn trade while Argentina, Brazil, and the Ukraine are expected to have a combined share of the export market of 58%.
SOYBEANS:
U.S. soybeans are 86% planted, ahead of the five-year average of 79%. Emergence is 67%. The crop condition rating is 72% good-to-excellent.
According to reports, China has purchased 120,000 tonnes of U.S. soybeans for December shipment. This recent Chinese demand has led to gains in the Chicago soybeans futures.
Since February, Brazil has exported 47.8 million tonnes of soybeans, up 44% on the year. Brazil’s export pace makes one wonder if it will either slow down exports in the near future or look to import soybeans for domestic use.
WHEAT:
U.S. winter wheat is 7% harvested.
Recent rains and locally strong wheat prices are being credited for the anticipated increase in wheat planting in Brazil. Brazil is expected to plant 5.4 million acres of wheat this year. This would represent an increase of nearly 7% from last year.
Australia has recently revised its wheat production by more than 25% after rains broke a multi-year drought along the east coast. Production has been increased from 21.3 million tonnes to 26.7 million tonnes.
2020 harvest prices for June 10, 2020, at the market close, are as follows:
SWW at $239.37/mt ($6.51bu), HRW at $251.68/mt ($6.85 /bu) + protein,
HRS at $ 237.04/mt ($6.45/bu) + protein, and SRW at $239.37 /mt ($6.51/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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