[Farmmarketnews] Wednesday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed May 6 15:31:47 EDT 2020
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, May 6
(All Bases in CAD)
Exchange rate was 1.4125 up 0.0102
Chicago corn closed slightly lower.
JUL20 HI 3.18 1/4 DEC20 HI 3.35
LOW 3.13 1/4 LOW 3.30 1/2
CLOSE3.14 1/4 Down 2 3/4 CLOSE 3.31 1/4 Down 3
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt U.S. $/bu $/mt Cntrct U.S. $/bu $/mt
ELEVATORS +JUL20+SEP20+SEP20
CK Low 1.25 4.39 172.93 0.90 4.21 165.84
CK High 1.25 4.39 172.93 0.90 4.21 165.84
CK Avg 1.25 -0.03 4.39 172.93 0.90 -0.33 4.21 165.84
Essex Cty 1.25 4.39 172.93 0.90 4.21 165.84
Mdsx Low 1.25 4.39 172.93 0.90 4.21 165.84
Mdsx High 1.25 4.39 172.93 0.90 4.21 165.84
Mdsx Avg 1.25 -0.03 4.39 172.93 0.90 -0.33 4.21 165.84
Hensall 1.28 4.42 173.91 0.93 4.24 166.82
Bruce 1.25 4.39 172.93 0.90 4.21 165.84
Putnam 1.25 4.39 172.93 0.90 4.21 165.84
Burford 1.25 4.39 172.93 0.90 4.21 165.84
Port Perry 1.35 4.49 176.86 1.05 4.36 171.74
Norfolk 1.25 4.39 172.93 0.90 4.21 165.84
Palmerston 1.25 4.39 172.93 0.94 4.25 167.41
Varna 1.25 4.39 172.93 0.90 4.21 165.84
Trenton 1.35 4.49 176.86 1.15 4.46 175.68
Winchester 1.40 4.54 178.83 1.45 4.76 187.49
North Gower 1.30 4.44 174.89 1.35 4.66 183.55
Vankleek Hil 1.07 4.21 165.84 0.95 4.26 167.81
Huron FOB 1.30 4.44 174.89 0.95 4.26 167.81
Kent FOB 1.30 4.44 174.89 0.90 4.21 165.84
Lamb FOB N/A 1.00 4.31 169.78
Mdsx FOB 1.30N/A N/A N/A 4.44 174.89 0.95 4.26 167.81
FOB SW Que 2.23 5.37 211.51N/A
Track 1.57 4.71 185.33N/A
PROCESSORS
Chat-Eth N/A N/A N/A 1.52 N/A
Jhnstwn-Eth N/A N/A N/A N/A N/A
Aylmer-Eth N/A N/A N/A 1.60 1.15 4.46 175.68
Sarn-Eth N/A N/A N/A N/A N/A
London-Ing N/A N/A N/A N/A 1.20 4.51 177.65
Pt.Colb-Ing N/A N/A N/A N/A N/A
Cardnl-Ing N/A N/A 1.95 2.00 1.50 4.81 189.46
W O Feed 1.77 4.91 193.40
US Rep 1.79 4.93 194.18
Toledo El. -0.24 2.90 114.26 -0.42 2.89 113.73
TRANSFER
Pt. Colb 1.80 4.94 194.58 1.30 4.61181 3/5
Prescott N/A N/A
HI SD CRN 0.90 4.21 1/4
*Wet Bid
Exchange rate was 1.4125 up 0.0102
Chicago soybeans closed slightly lower.
JUL20 HI 8.41 3/4 NOV20 HI 8.48 1/4
LOW 8.31 1/2 LOW 8.38 1/2
CLOSE8.32 1/2 Down 7 CLOSE 8.39 1/4 Down 7 1/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt
ELEVATORS +JUL2+JUL2+SEP20
CK Low 2.85 11.18 410.612.70 11.09 407.58
CK High 2.95 11.28 414.292.80 11.19 411.25
CK Average 2.92 -0.3611.25 413.312.77 -0.4911.16 410.21
Essex Cty 2.95 11.28 414.292.75 11.14 409.42
Mdsx Low 2.92 11.25 413.182.76 11.15 409.78
Mdsx High 2.95 11.28 414.292.80 11.19 411.25
Mdsx Average 2.94 -0.3511.26 413.732.78 -0.4811.17 410.52
Hensall 2.93 11.25 413.372.78 11.17 410.34
Bruce 2.85 11.18 410.612.75 11.14 409.42
Putnam 2.95 11.28 414.292.80 11.19 411.25
Burford 2.99 11.32 415.762.83 11.22 412.36
Port Perry 2.94 11.27 413.922.78 11.17 410.52
Norfolk 2.95 11.28 414.292.80 11.19 411.25
Palmerston 2.80 11.13 408.772.75 11.14 409.42
Varna 2.90 11.23 412.452.75 11.14 409.42
Trenton 2.90 11.23 412.452.75 11.14 409.42
Winchester 2.85 11.18 410.612.65 11.04 405.74
North Gower 2.75 11.08 406.942.75 11.14 409.42
Vankleek Hill N/A 2.74 11.13 409.05
Huron FOB 3.05 11.38 417.962.85 11.24 413.09
Kent FOB 3.10 11.43 419.802.80 11.19 411.25
Lambton FOB 3.15 11.48 421.632.80 11.19 411.25
Middlesex FOB3.18 3.18 N/A N/A 11.51 422.742.90 11.29 414.93
PROCESSORS
Windsor 3.29 11.62 426.782.97 11.36 417.50
TRANSFER
Hamilton 3.55 11.88 436.333.25 11.64 427.79
Prescott N/A 3.16 11.55 424.48
Port Colborne3.52 11.85 435.233.24 11.63 427.42
Toledo El. -0.14 8.18 300.70-0.42 7.97 292.80
Exchange rate was 1.4125 up 0.0102
Chicago wheat closed slightly lower.
JUL20 HI 5.21 3/4 SEP20 HI 5.24 1/4
LOW 5.13 LOW 5.16 3/4
CLOSE 5.17 1/2 Down 3 1/4 CLOSE 5.20 3/4 Down 3
Minni wheat closed slightly lower.
JUL20 HI 5.10 1/2 SEP20 HI 5.21
LOW 5.06 1/4 LOW 5.17
CLOSE 5.07 3/4 Down 2 1/2 CLOSE 5.18 1/4 Down 2 3/4
GFO Cash Wheat Prices - DEL Terminal
Harvest 19 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 2.28 2.49 2.28 1.46
CAD $/bu 7.45 7.66 7.45 6.54
CAD $/tonne 273.78 281.57 273.78 240.17
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 1.37 N/A
London 2.12 2.40 1.91 N/A 1.74 1.88 1.39 N/A
Hensall 1.85 N/A 1.85 N/A 1.52 N/A 1.37 N/A
Trenton N/A N/A N/A N/A N/A N/A 1.47 N/A
Bruce 1.80 2.30 1.85 1.95 1.42 1.77 1.37 1.35
Essex N/A N/A 1.80 N/A N/A N/A 1.32 N/A
Norwich 1.85 N/A 1.85 N/A 1.52 N/A 1.37 N/A
Port Hope N/A N/A 1.85 N/A N/A N/A 1.42 N/A
Kent Bridge 1.85 N/A 1.85 N/A 1.52 N/A 1.37 N/A
Chatham N/A N/A N/A N/A N/A N/A 1.37 N/A
Brigden N/A N/A N/A N/A N/A N/A 1.37 N/A
Palmerston N/A 2.34 1.78 1.88 N/A 1.79 1.37 1.36
Varna 2.05 2.25 1.85 N/A 1.57 1.77 1.37 N/A
Mitchell 1.85 2.00 1.85 N/A 1.52 1.72 1.37 N/A
Thornton N/A N/A N/A 2.03 N/A N/A N/A N/A
North Gower N/A 2.20 1.95 1.05 N/A 1.95 1.55 1.10
W O Feed 2.50
TERMINAL
Port Colbor N/A N/A 2.26 N/A N/A N/A 1.73 N/A
PROCESSORS
Toledo FM N/A N/A 2.13 N/A N/A N/A 2.10 N/A
Toledo El. 5.18US 7.31CA 5.18US 7.31CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 20 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.79 2.15 1.79 1.29
CAD $/bu 7.00 7.35 7.00 6.47
CAD $/tonne 257.27 270.24 257.27 237.81
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 491.75
DDG's FOB Srn & Aylm ---
----
Ontario Grain Market Commentary for May 6, 2020
By Todd Austin, Grain Farmers of Ontario
Wednesday, May 6, 2020
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT July 3.14¼ ↓ ¼ cent
Soybeans CBOT July 8.32½ ↓ 5 cents
Wheat CBOT July 5.17½ ↑ 1 cents
Wheat Minn. July 5.07¾ ↑ ¼ Cents
Wheat Kansas July 4.77½ ↑ ½ Cent
Oats CBOT July 2.91½ ↑ 8 Cents
Canadian $ June 0.7080 ↓ 116 Points
CORN:
According to the latest USDA report, corn planting is over 50% complete. In one week, U.S. farmers have planted 24% of the crop. The five-year average is 39% for this time of the year.
The Argentina corn harvest is 37% complete, mainly in southern Argentina. Wet weather has slowed this harvest as it has only progressed 2% from last week. The Buenos Aires Grain Exchange has estimated the corn production to be 50 million tonnes.
SOYBEANS:
U.S. soybeans are 23% planted, well above the five-year average of 11% and up 15% from this time last week.
The Argentina soybean harvest is 68% complete, up 12% from last week, and above the five-year average of 55%. Reports indicate early planted soybeans are 81% harvested and the later planted soybeans are 41% harvested. Estimates for production are 49.5 million tonnes.
WHEAT:
The USDA has rated the US winter wheat crop as 55% good-to-excellent. 32% of the crop is now headed, which is below the five-year average of 38% headed. U.S. spring wheat planting is 29%, which is well below the average of 43 per cent complete.
The European Union is expected to have one of their best export seasons in years. The EU commission raised their forecast of soft wheat exports to 31.8 million tonnes. Chinese demand and export restrictions from Russia and the Black Sea region have helped with the increase in European exports.
2019 cash prices for May 6, 2020, at the market close, are as follows:
SWW at $273.76/mt ($7.45bu), HRW at $281.54/mt ($7.66 /bu),
HRS at $ 240.15/mt ($6.54/bu), and SRW at $273.76 /mt ($7.45/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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