[Farmmarketnews] Wednesday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed May 13 16:02:01 EDT 2020
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, May 13
(All Bases in CAD)
Exchange rate was 1.4104 up 0.0054
Chicago corn closed slightly lower.
JUL20 HI 3.22 DEC20 HI 3.35 3/4
LOW 3.17 3/4 LOW 3.32
CLOSE3.18 1/4 Down 4 CLOSE 3.32 1/2 Down 3 1/4
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 4.43 174.50 0.90 4.23 166.33
CK High 1.25 4.43 174.50 0.95 4.28 168.30
CK Avg 1.25 -0.04 4.43 174.50 0.91 -0.32 4.23 166.66
Essex Cty 1.25 4.43 174.50 0.90 4.23 166.33
Mdsx Low 1.25 4.43 174.50 0.90 4.23 166.33
Mdsx High 1.25 4.43 174.50 0.90 4.23 166.33
Mdsx Avg 1.25 -0.04 4.43 174.50 0.90 -0.33 4.23 166.33
Hensall 1.28 4.46 175.48 0.93 4.25 167.32
Bruce 1.25 4.43 174.50 0.95 4.28 168.30
Putnam 1.25 4.43 174.50 0.90 4.23 166.33
Burford 1.25 4.43 174.50 0.90 4.23 166.33
Port Perry 1.35 4.53 178.44 1.05 4.38 172.24
Norfolk 1.25 4.43 174.50 0.90 4.23 166.33
Palmerston 1.26 4.44 174.89 0.94 4.27 167.91
Varna 1.25 4.43 174.50 0.90 4.23 166.33
Trenton 1.35 4.53 178.44 1.15 4.48 176.17
Winchester 1.40 4.58 180.41 1.45 4.78 187.98
North Gower 1.35 4.53 178.44 1.40 4.73 186.02
Vankleek Hil 1.07 4.25 167.41 0.95 4.28 168.30
Huron FOB 1.40 4.58 180.41 0.95 4.28 168.30
Kent FOB 1.30 4.48 176.47 0.90 4.23 166.33
Lamb FOB N/A 1.00 4.33 170.27
Mdsx FOB 1.30N/A N/A N/A 4.48 176.47 0.95 4.28 168.30
FOB SW Que 2.19 5.37 211.51N/A
Track 1.57 4.75 187.10N/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 4.48 176.17
Sarn-Eth N/A N/A N/A N/A N/A
London-Ing N/A N/A N/A N/A 1.20 4.53 178.14
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 4.83 189.95
W O Feed 1.72 4.91 193.10
US Rep 1.87 5.05 198.91
Toledo El. -0.17 3.01 118.63 -0.42 2.90 114.26
TRANSFER
Pt. Colb 1.80 4.98 196.15 1.35 4.68184
Prescott N/A N/A
HI SD CRN 0.95 4.27 1/2
*Wet Bid
Exchange rate was 1.4104 up 0.0054
Chicago soybeans closed slightly to moderately lower.
JUL20 HI 8.54 NOV20 HI 8.58 1/2
LOW 8.36 1/2 LOW 8.43
CLOSE8.39 1/2 Down 12 1/2 CLOSE 8.45 1/2 Down 11 1/2
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt
ELEVATORS +JUL2+JUL2+SEP20
CK Low 2.90 11.30 415.022.70 11.16 409.88
CK High 2.99 11.39 418.332.80 11.26 413.55
CK Average 2.95 -0.3511.34 416.802.78 -0.4811.24 412.82
Essex Cty 2.95 11.35 416.862.75 11.21 411.71
Mdsx Low 2.95 11.35 416.862.76 11.22 412.08
Mdsx High 2.97 11.37 417.592.80 11.26 413.55
Mdsx Average 2.96 -0.3411.36 417.222.78 -0.4811.24 412.82
Hensall 2.93 11.32 415.942.78 11.23 412.63
Bruce 2.95 11.35 416.862.80 11.26 413.55
Putnam 2.95 11.35 416.862.80 11.26 413.55
Burford 3.04 11.44 420.162.83 11.29 414.65
Port Perry 2.99 11.39 418.332.78 11.24 412.82
Norfolk 2.95 11.35 416.862.80 11.26 413.55
Palmerston 2.88 11.28 414.292.83 11.29 414.65
Varna 2.95 11.35 416.862.80 11.26 413.55
Trenton 2.95 11.35 416.862.80 11.26 413.55
Winchester 2.90 11.30 415.022.70 11.16 409.88
North Gower 2.82 11.22 412.082.75 11.21 411.71
Vankleek Hill N/A 2.74 11.20 411.35
Huron FOB 3.10 11.50 422.372.90 11.36 417.22
Kent FOB 3.15 11.55 424.212.80 11.26 413.55
Lambton FOB 3.15 11.55 424.212.80 11.26 413.55
Middlesex FOB3.16 3.16 N/A N/A 11.56 424.572.88 11.34 416.49
PROCESSORS
Windsor 3.44 11.84 434.863.04 11.50 422.37
TRANSFER
Hamilton 3.55 11.95 438.903.25 11.71 430.09
Prescott N/A 3.16 11.62 426.78
Port Colborne3.57 11.97 439.643.22 11.68 428.98
Toledo El. -0.14 8.25 303.28-0.42 8.03 295.14
Exchange rate was 1.4104 up 0.0054
Chicago wheat closed moderately lower to lower.
JUL20 HI 5.14 1/4 SEP20 HI 5.17
LOW 5.00 1/4 LOW 5.04 1/4
CLOSE 5.01 3/4 Down 12 3/4 CLOSE 5.05 1/4 Down 12 1/4
Minni wheat closed moderately lower to lower.
JUL20 HI 5.20 3/4 SEP20 HI 5.30 1/4
LOW 5.07 1/4 LOW 5.18 3/4
CLOSE 5.08 1/4 Down 12 3/4 CLOSE 5.19 3/4 Down 11 1/2
GFO Cash Wheat Prices - DEL Terminal
Harvest 19 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 2.20 2.41 2.20 1.45
CAD $/bu 7.22 7.43 7.22 6.53
CAD $/tonne 265.21 272.99 265.21 240.08
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 2.05 2.33 1.84 N/A 1.60 1.81 1.32 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 2.27 1.70 1.87 N/A 1.86 1.36 1.36
Varna 2.05 2.25 1.85 N/A 1.47 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 1.79 N/A N/A N/A N/A
North Gower N/A 2.10 1.90 1.05 N/A 1.90 1.50 1.10
W O Feed 2.36
TERMINAL
Port Colbor N/A N/A 2.18 N/A N/A N/A 1.66 N/A
PROCESSORS
Toledo FM N/A N/A 2.06 N/A N/A N/A 2.02 N/A
Toledo El. 5.02US 7.08CA 5.02US 7.08CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 20 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.71 2.07 1.71 1.28
CAD $/bu 6.77 7.12 6.77 6.48
CAD $/tonne 248.64 261.59 248.64 238.03
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 503.32
DDG's FOB Srn & Aylm -
---
Ontario Grain Market Commentary for May 13, 2020
By Todd Austin, Grain Farmers of Ontario
Wednesday, May 13, 2020
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT July 3.18¼ ↑ 4 cents
Soybeans CBOT July 8.39½ ↑ 7 cents
Wheat CBOT July 5.01¾ ↓ 15¾ cents
Wheat Minn. July 5.08¼ ↑ ½ Cents
Wheat Kansas July 4.54¼ ↓ 23¼ Cent
Oats CBOT July 3.05½ ↑ 14 Cents
Canadian $ June 0.7094 ↑ 14 Points
CORN:
The U.S. corn crop is 67% planted, up 16% from last week. Last year at this time, the U.S. planting was an anemic 28% complete.
The latest USDA report indicated that the 2020/2021 corn carryout could be 3.317 billion bushels. The current crop is expected to have an ending inventory of 2.098 billion bushels.
In Ontario, provincially the corn planting is 90-95% complete, but there are areas that are well below this threshold.
SOYBEANS:
U.S. soybean planting is 38% complete, up from 23% last week. With the projected acreage and trend-line yields, the soybean crop is expected to be 4.13 billion bushels. Demand, both domestic and export are anticipated to be strong this upcoming marketing year. As a result, ending inventory is expected to be 405 million bushels. This is a decrease from of 176 million bushels from last year.
Planting in Ontario is 30-40% complete, but again there are pockets well below this rate and pockets where planting is above this pace.
WHEAT:
U.S. winter wheat production is expected to be 1.255 billion bushels, down 49.403 million bushels from 2019. Soft red winter wheat production is forecast at 297.527 million bushels, up 24% from last year. Soft white winter wheat production is targeted at 207.464 million bushels, down 2% from last year. Hard red winter wheat is anticipated at 733.409 million bushels, down 12% from last year.
U.S. spring wheat is 42% planted, up from 29% last week. This pace is behind the five-year average of 63 per cent.
2019 cash prices for May 13, 2020, at the market close, are as follows:
SWW at $265.05/mt ($7.21bu), HRW at $272.83/mt ($7.43 /bu),
HRS at $ 239.94/mt ($6.53/bu), and SRW at $265.05 /mt ($7.21/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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