[Farmmarketnews] Wednesday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Jun 24 15:33:22 EDT 2020
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, June 24
(All Bases in CAD)
Exchange rate was 1.3605 up 0.0064
Chicago corn closed slightly lower.
JUL20 HI 3.29 DEC20 HI 3.39 3/4
LOW 3.23 3/4 LOW 3.33 1/4
CLOSE3.24 1/4 Down 3/4 CLOSE 3.33 3/4 Down 3
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 1.35 4.59 180.80 0.90 4.24 166.82
CK High 1.38 4.62 181.98 0.95 4.29 168.79
CK Avg 1.36 0.14 4.60 181.19 0.91 -0.22 4.25 167.15
Essex Cty 1.38 4.62 181.98 0.90 4.24 166.82
Mdsx Low 1.35 4.59 180.80 0.90 4.24 166.82
Mdsx High 1.38 4.62 181.98 0.90 4.24 166.82
Mdsx Avg 1.37 0.14 4.61 181.39 0.90 -0.22 4.24 166.82
Hensall 1.37 4.61 181.45 0.92 4.25 167.48
Bruce 1.35 4.59 180.80 0.90 4.24 166.82
Putnam 1.35 4.59 180.80 0.90 4.24 166.82
Burford 1.38 4.62 181.98 0.90 4.24 166.82
Port Perry 1.53 4.77 187.89 1.10 4.44 174.70
Norfolk 1.38 4.62 181.98 0.90 4.24 166.82
Palmerston 1.35 4.59 180.80 0.94 4.28 168.40
Varna 1.35 4.59 180.80 0.90 4.24 166.82
Trenton 1.50 4.74 186.70 1.10 4.44 174.70
Winchester 1.45 4.69 184.74 1.40 4.74 186.51
North Gower 1.40 4.64 182.77 1.40 4.74 186.51
Vankleek HilN/A 0.94 4.28 168.40
Huron FOB 1.49 4.73 186.31 0.95 4.29 168.79
Kent FOB 1.48 4.72 185.92 0.95 4.29 168.79
Lamb FOB 1.40 4.64 182.77 0.88 4.22 166.04
Mdsx FOB 1.50 1.50N/A N/A 4.74 186.70 0.95 4.29 168.79
FOB SW Que 1.96 5.20 204.81N/A
Track 1.69 4.93 193.99N/A
PROCESSORS
Chat-Eth N/A N/A 1.49 1.52 N/A
Jhnstwn-Eth N/A N/A N/A N/A N/A
Aylmer-Eth N/A 1.66 1.69 1.66 1.11 4.45 175.09
Sarn-Eth N/A N/A N/A N/A N/A
London-Ing N/A N/A N/A N/A 1.20 4.54 178.63
Pt.Colb-Ing N/A N/A N/A N/A N/A
Cardnl-Ing N/A N/A 2.00N/A 1.55 4.89 192.41
W O Feed 1.81 5.05 198.91
US Rep 1.85 5.09 200.48
Toledo El. -0.04 3.20 126.04 -0.27 3.07 120.68
TRANSFER
Pt. Colb 1.83 5.07 199.70 1.35 4.69 184.54
Prescott 2.03 5.27 207.57N/A
HI SD CRN 0.95 4.28 3/4
*Wet Bid
Exchange rate was 1.3605 up 0.0064
Chicago soybeans closed slightly lower.
JUL20 HI 8.77 1/2 NOV20 HI 8.76 3/4
LOW 8.70 LOW 8.68 1/2
CLOSE8.70 3/4 Down 4 1/4 CLOSE 8.70 Down 4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt Basis U.S. $/bu $/mt
ELEVATORS +JUL20+AUG20+NOV20
CK Low 2.72 11.43 419.89 2.50 11.20 411.53
CK High 2.85 11.56 424.67 2.60 11.30 415.20
CK Average 2.78 -0.27 11.48 421.91 2.52 -0.45 11.22 412.39
Essex Cty 2.72 11.43 419.89 2.50 11.20 411.53
Mdsx Low 2.75 11.46 420.99 2.52 11.22 412.26
Mdsx High 2.81 11.52 423.20 2.55 11.25 413.37
Mdsx Average2.78 -0.26 11.49 422.09 2.54 -0.44 11.24 412.82
Hensall 2.75 11.46 420.99 2.55 11.25 413.37
Bruce 2.80 11.51 422.83 2.55 11.25 413.37
Putnam 2.75 11.46 420.99 2.50 11.20 411.53
Burford 2.88 11.59 425.77 2.59 11.29 414.84
Port Perry 2.83 11.54 423.93 2.54 11.24 413.00
Norfolk 2.72 11.43 419.89 2.55 11.25 413.37
Palmerston 2.84 11.55 424.30 2.65 11.35 417.04
Varna 2.80 11.51 422.83 2.55 11.25 413.37
Trenton 2.80 11.51 422.83 2.55 11.25 413.37
Winchester 2.85 11.56 424.67 2.60 11.30 415.20
North Gower 2.72 11.43 419.89 2.55 11.25 413.37
Vankleek Hil N/A 3.00 11.70 429.90
Huron FOB 3.04 11.75 431.65 2.63 11.33 416.31
Kent FOB 2.92 11.63 427.24 2.50 11.20 411.53
Lambton FOB 3.05 11.76 432.01 2.70 11.40 418.88
Mdsx FOB 3.00 3.06 N/A N/A 11.71 430.18 2.71 11.41 419.25
PROCESSORS
Windsor 3.26 11.97 439.73 2.86 11.56 424.76
TRANSFER
Hamilton 3.27 11.98 440.10 3.00 11.70 429.90
Prescott N/A 3.05 11.75 431.74
Port Colborn3.14 11.85 435.32 2.91 11.61 426.59
Toledo El. -0.11 8.60 315.95 -0.34 8.36 307.17
Exchange rate was 1.3605 up 0.0064
Chicago wheat closed slightly lower.
JUL20 HI 4.88 SEP20 HI 4.92 1/2
LOW 4.80 LOW 4.84 1/2
CLOSE 4.81 1/4 Down 4 3/4 CLOSE 4.85 3/4 Down 5 1/4
Minni wheat closed slightly higher.
JUL20 HI 5.18 1/2 SEP20 HI 5.26 3/4
LOW 5.14 LOW 5.23 3/4
CLOSE 5.16 1/4 Up 1 1/2 CLOSE 5.24 1/4 Up 1/2
GFO Cash Wheat Prices - DEL Terminal
Harvest 19 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.87 2.08 1.87 1.25
CAD $/bu 6.68 6.89 6.68 6.41
CAD $/tonne 245.58 253.08 245.58 235.58
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 1.05 N/A
London 1.73 1.94 1.33 N/A 1.28 1.48 1.07 N/A
Hensall 1.30 N/A 1.30 N/A 1.20 N/A 1.05 N/A
Trenton N/A N/A N/A N/A N/A N/A 1.20 N/A
Bruce N/A N/A N/A N/A 1.15 1.45 1.05 1.20
Essex N/A N/A 1.45 N/A N/A N/A 1.05 N/A
Norwich 1.30 N/A 1.30 N/A 1.20 N/A 1.05 N/A
Port Hope N/A N/A 1.30 N/A N/A N/A 1.20 N/A
Kent Bridge 1.30 N/A 1.30 N/A 1.20 N/A 1.05 N/A
Chatham N/A N/A N/A N/A N/A N/A 1.05 N/A
Brigden N/A N/A N/A N/A N/A N/A 1.05 N/A
Palmerston N/A 1.88 1.33 1.66 N/A 1.55 1.13 1.15
Varna 1.50 1.70 1.30 N/A 1.15 1.45 1.05 N/A
Mitchell 1.30 1.45 1.30 N/A 1.20 1.40 1.05 N/A
Thornton N/A N/A N/A 1.19 N/A N/A N/A N/A
North Gower N/A N/A N/A N/A N/A 1.60 1.30 1.10
W O Feed 1.92
TERMINAL
Port Colbor N/A N/A N/A N/A N/A N/A 1.41 N/A
PROCESSORS
Toledo FM N/A N/A 1.74 N/A N/A N/A 1.68 N/A
Toledo El. 4.81US 6.55CA 4.81US 6.54CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 20 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.41 1.75 1.41 1.28
CAD $/bu 6.27 6.61 6.27 6.52
CAD $/tonne 230.34 242.83 230.34 239.58
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 482.60
DDG's FOB Srn & Aylm 220.00
---
Ontario Grain Market Commentary for June 24, 2020
By Todd Austin, Grain Farmers of Ontario
Wednesday, June 24, 2020
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT July 3.24¼ ↓ 6 Cents
Soybeans CBOT July 8.70¾ ↓ ½ Cent
Wheat CBOT July 4.81¼ ↓ 7½ Cents
Wheat Minn. July 5.16¼ ↓ 4 Cents
Wheat Kansas July 4.31¼ ↓ 1¼ Cent
Oats CBOT July 3.04¾ ↓ 2½ Cents
Canadian $ June 0.7350 ↓ 23 Points
CORN:
Corn futures have recently lost ground due to weak demand and an improved weather outlook across the U.S. Midwest. As fuel demand remains low, demand for corn for ethanol production will likewise remain low.
The USDA had rated corn as 72% good-to-excellent, up one percentage point from the previous week and also above what the trade was expecting.
SOYBEANS:
Chinese port stocks of soybeans fell to their lowest levels in the past decade in March of this year. These stocks have now almost doubled, reaching 6.5 million tonnes by mid-June.
Reuters has recently reported that Chinese importers have asked exporters in the U.S., Brazil, and Canada to sign a letter guaranteeing that their cargo are not contaminated with coronavirus. There has been rising fear in China that food imports may lead to outbreaks of COVID-19.
WHEAT:
U.S. winter wheat harvest was 29% complete for the week ending June 21. This pace is 6% ahead of last year at this time and 3 percentage points above the five-year average. The winter wheat crop condition improved this week, from last week, as 52% of the crop is considered good-to-excellent.
U.S. Spring wheat condition is reported to be 75% good-to-excellent, down from last week as dry conditions are present in many of the wheat production states. North Dakota for instance has had its spring wheat ratings fall from 84% good-to-excellent down to 78% in two weeks.
2020 harvest prices for June 24, 2020, at the market close, are as follows:
SWW at $230.33/mt ($6.27bu), HRW at $242.82/mt ($6.61 /bu) + protein,
HRS at $ 239.58/mt ($6.52/bu) + protein, and SRW at $230.33 /mt ($6.27/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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