[Farmmarketnews] Wednesday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Mar 11 15:24:07 EDT 2020
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, March 11
(All Bases in CAD)
Exchange rate was 1.3766 up 0.0017
Chicago corn closed slightly lower.
MAY20 HI 3.77 1/2 DEC20 HI 3.80 1/4
LOW 3.72 1/4 LOW 3.76
CLOSE3.74 1/2 Down 3 CLOSE 3.77 Down 3 1/2
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt U.S. $/bu $/mt Cntrct U.S. $/bu $/mt
ELEVATORS +MAY20+JUL20+JUL20
CK Low 1.50 5.25 206.49 0.95 4.72 185.82
CK High 1.55 5.30 208.45 1.00 4.77 187.79
CK Avg 1.52 0.08 5.26 207.14 0.96 -0.34 4.73 186.15
Essex Cty 1.55 5.30 208.45 1.00 4.77 187.79
Mdsx Low 1.50 5.25 206.49 0.95 4.72 185.82
Mdsx High 1.50 5.25 206.49 0.95 4.72 185.82
Mdsx Avg 1.50 0.07 5.25 206.49 0.95 -0.34 4.72 185.82
Hensall 1.55 5.30 208.45 1.00 4.77 187.79
Bruce 1.55 5.30 208.45 1.00 4.77 187.79
Putnam 1.50 5.25 206.49 0.95 4.72 185.82
Burford 1.50 5.25 206.49 0.95 4.72 185.82
Port Perry 1.55 5.30 208.45 1.00 4.77 187.79
Norfolk 1.55 5.30 208.45 1.00 4.77 187.79
Palmerston 1.54 5.29 208.06 1.07 4.84 190.54
Varna 1.55 5.30 208.45 1.00 4.77 187.79
Trenton 1.55 5.30 208.45 1.05 4.82 189.76
Winchester 1.55 5.30 208.45 1.40 5.17 203.53
North Gower 1.52 5.27 207.27 1.44 5.21 205.11
Huron FOB 1.76 5.51 216.72 1.05 4.82 189.76
Kent FOB 1.80 5.55 218.30 1.10 4.87 191.72
Lamb FOB 1.83 5.58 219.48 1.15 4.92 193.69
Mdsx FOB 1.70 1.70N/A N/A 5.45 214.36 1.00 4.77 187.79
FOB SW Que 2.15 5.90 232.08N/A
Track 2.01 5.75 226.37N/A
PROCESSORS
Chat-Eth N/A N/A N/A N/A 1.22 4.99 196.45
Jhnstwn-Eth N/A N/A N/A N/A 1.55 5.32 209.44
Aylmer-Eth N/A N/A 2.00N/A 1.25 5.02 197.63
Sarn-Eth N/A N/A 1.90N/A N/A
London-Ing N/A N/A N/A N/A 1.40 5.17 203.53
Pt.Colb-Ing N/A N/A N/A N/A N/A
Cardnl-Ing N/A N/A N/A N/A 1.55 5.32 209.44
W O Feed 2.12 5.87 230.97
US Rep 2.44 6.19 243.49
Toledo El. 0.28 4.02 158.27 -0.28 3.49 137.58
TRANSFER
Pt. Colb 1.60 5.35 210.42 1.20 4.97 195.66
Prescott 2.20 5.95 234.04 1.60 5.37211 2/5
HI SD CRN 1.55 5.29 1/2
*Wet Bid
Exchange rate was 1.3766 up 0.0017
Chicago soybeans closed slightly lower.
MAY20 HI 8.83 3/4 NOV20 HI 8.98
LOW 8.72 LOW 8.85 1/4
CLOSE8.73 1/4 Down 3 CLOSE 8.86 3/4 Down 4 3/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt
ELEVATORS +MAY2+MAY2+JUL20
CK Low 2.75 11.48 421.912.55 11.42 419.52
CK High 2.85 11.58 425.582.60 11.47 421.36
CK Average 2.80 -0.3511.53 423.812.59 -0.5411.46 421.05
Essex Cty 2.80 11.53 423.752.60 11.47 421.36
Mdsx Low 2.80 11.53 423.752.58 11.45 420.62
Mdsx High 2.82 11.55 424.482.60 11.47 421.36
Mdsx Average 2.81 -0.3511.54 424.112.59 -0.5411.46 420.99
Hensall 2.80 11.53 423.752.60 11.47 421.36
Bruce 2.80 11.53 423.752.60 11.47 421.36
Putnam 2.80 11.53 423.752.60 11.47 421.36
Burford 2.89 11.62 427.052.65 11.52 423.20
Port Perry 2.81 11.54 424.112.57 11.44 420.26
Norfolk 2.80 11.53 423.752.60 11.47 421.36
Palmerston 2.80 11.53 423.752.58 11.45 420.62
Varna 2.80 11.53 423.752.60 11.47 421.36
Trenton 2.75 11.48 421.912.50 11.37 417.68
Winchester 2.75 11.48 421.912.50 11.37 417.68
North Gower 2.70 11.43 420.072.55 11.42 419.52
Huron FOB 3.00 11.73 431.102.70 11.57 425.03
Kent FOB 3.00 11.73 431.102.60 11.47 421.36
Lambton FOB 3.00 11.73 431.102.80 11.67 428.71
Middlesex FOB2.97 2.97 N/A N/A 11.70 429.992.66 11.53 423.56
PROCESSORS
Windsor 3.28 12.01 441.382.85 11.72 430.54
TRANSFER
Hamilton 3.45 12.18 447.633.10 11.97 439.73
Prescott N/A 2.85 11.72 430.54
Port Colborne3.17 11.90 437.343.07 11.94 438.63
Toledo El. 0.04 8.77 322.38-0.41 8.45 310.65
Exchange rate was 1.3766 up 0.0017
Chicago wheat closed moderately lower.
MAY20 HI 5.24 3/4 JUL20 HI 5.23 1/2
LOW 5.11 3/4 LOW 5.12
CLOSE 5.12 3/4 Down 9 1/2 CLOSE 5.13 1/4 Down 8 1/4
Minni wheat closed moderately lower.
MAY20 HI 5.22 SEP20 HI 5.39 3/4
LOW 5.11 1/4 LOW 5.32 1/4
CLOSE 5.12 Down 6 3/4 CLOSE 5.32 1/2 Down 6
GFO Cash Wheat Prices - DEL Terminal
Harvest 19 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 2.21 2.41 2.21 1.52
CAD $/bu 7.33 7.54 7.33 6.64
CAD $/tonne 269.46 277.05 269.46 243.79
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 1.35 N/A
London 2.04 2.31 1.91 N/A 1.56 1.83 1.35 N/A
Hensall 1.95 N/A 1.95 N/A 1.55 N/A 1.35 N/A
Trenton N/A N/A N/A N/A N/A N/A 1.30 N/A
Bruce 2.00 2.20 2.00 1.95 1.60 1.80 1.40 1.40
Essex N/A N/A 2.00 N/A N/A N/A 1.40 N/A
Norwich 1.95 N/A 1.95 N/A 1.55 N/A 1.35 N/A
Port Hope N/A N/A 1.85 N/A N/A N/A 1.30 N/A
Kent Bridge 1.95 N/A 1.95 N/A 1.55 N/A 1.35 N/A
Chatham N/A N/A 2.00 N/A N/A N/A 1.40 N/A
Brigden N/A N/A 2.00 N/A N/A N/A 1.40 N/A
Palmerston N/A 2.47 2.06 1.99 N/A 1.81 1.40 1.38
Varna 2.05 2.20 1.95 N/A 1.60 1.80 1.40 N/A
Mitchell 1.95 2.20 1.95 N/A 1.55 1.70 1.35 N/A
Thornton N/A N/A N/A 1.99 N/A N/A N/A N/A
North Gower N/A 2.10 2.00 1.00 N/A 1.92 1.67 1.10
W O Feed 2.55
TERMINAL
Port Colbor N/A N/A 2.38 N/A N/A N/A 1.76 N/A
PROCESSORS
Toledo FM N/A N/A 2.27 N/A N/A N/A 2.07 N/A
Toledo El. 5.28US 7.26CA 5.23US 7.20CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 20 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.73 2.00 1.73 1.25
CAD $/bu 6.86 7.13 6.86 6.57
CAD $/tonne 252.03 262.15 252.03 241.54
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 480.17
DDG's FOB Srn & Aylm 240.00 - 250.00
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Ontario Grain Market Commentary for March 11, 2020
By Todd Austin, Grain Farmers of Ontario
Wednesday, March 11, 2020
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT May 3.74½ ↓ 10½ cents
Soybeans CBOT May 8.73¼ ↓ 34 cents
Wheat CBOT May 5.12¾ ↓ 5½ cents
Wheat Minn. May 5.12 ↓ 8¼ cents
Wheat Kansas May 4.35½ ↓ 17¾ cents
Oats CBOT May 2.74½ ↑ 3¾ cents
Canadian $ Mar 0.7265 ↓ 199 points
CORN:
The March 10, 2020 U.S. Department of Agriculture (USDA) report did not make any noticeable change to their U.S. corn balance sheet. The USDA has kept this crop year's ending stocks at 1.892 billion bushels. World ending stocks were up slightly from last month and were within trade estimates.
Brazilian safrinha corn is 75-80% planted as the end of planting window of March 10-15 approaches. High corn prices in Brazil may encourage farmers there to plant past this window.
SOYBEANS:
The USDA report on March 10, 2020 showed no change to their U.S. numbers, although minor fluctuations were detected in global supply and demand positions. U.S. soybean carryout remains at 425 million bushels. Globally, the USDA has increased both Argentina and Brazil soybean production by one million tonnes. Demand reduced slightly, and carryout stocks were increased by 3.6 million tonnes.
As the Brazilian soybean harvest has reached the halfway point, farmers there have sold a much larger portion of their crop than this time last year. The weaker Brazilian currency has resulted in record high domestic grain prices.
WHEAT:
The U.S. wheat supply and demand report showed no change this month from the report in February, 2020. Ending stocks of all wheat remained at 940 million bushels. World production was increased, although ending stocks were adjusted down from 288.03 million tonnes to 287.14 million tonnes, a drop of 840,000 tonnes.
According to the USDA, total commitments of U.S. wheat for this marketing year sit at 23.18 million tonnes, while total export estimates are 27.22 million tonnes. With this volume of trade, the U.S. is the third largest exporter, after Russia and the EU.
2019 cash prices for March 11, 2020, at the market close, are as follows:
SWW at $269.45/mt ($7.33/bu), HRW at $277.04/mt ($7.54 /bu),
HRS at $ 243.78/mt ($6.63/bu), and SRW at $269.45 /mt ($7.33 /bu).
We currently offer 2020 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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