[Farmmarketnews] Wednesday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Nov 4 15:28:56 EST 2020
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, November 4
(All Bases in CAD)
Exchange rate was 1.3135 down 0.0030
Chicago corn closed slightly to moderately higher.
DEC20 HI 4.06 DEC21 HI 3.93 1/2
LOW 3.96 1/2 LOW 3.87 1/2
CLOSE4.05 1/4 Up 4 1/4 CLOSE 3.93 1/4 Up 3 1/2
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt U.S. $/bu $/mt Cntrct U.S. $/bu $/mt
ELEVATORS +MAR21+MAR21+MAR21
CK Low 1.25 5.30 208.75 0.90 4.83 190.25
CK High 1.30 5.35 210.72 0.90 4.83 190.25
CK Avg 1.28 0.01 5.34 210.06 0.90 -0.25 4.83 190.25
Essex Cty 1.30 5.35 210.72 0.90 4.83 190.25
Mdsx Low 1.25 5.30 208.75 0.90 4.83 190.25
Mdsx High 1.30 5.35 210.72 0.90 4.83 190.25
Mdsx Avg 1.28 0.00 5.33 209.73 0.90 -0.25 4.83 190.25
Hensall 1.30 5.35 210.72 0.92 4.85 190.90
Bruce 1.30 5.35 210.72 0.90 4.83 190.25
Putnam 1.25 5.30 208.75 0.90 4.83 190.25
Burford 1.30 5.35 210.72 0.90 4.83 190.25
Port Perry 1.40 5.45 214.66 0.95 4.88 192.22
Norfolk 1.30 5.35 210.72 0.90 4.83 190.25
Palmerston 1.26 5.31 209.14 0.85 4.78 188.28
Varna 1.30 5.35 210.72 0.90 4.83 190.25
Trenton 1.55 5.60 220.56 1.00 4.93 194.18
Winchester 1.55 5.60 220.56 1.25 5.18 204.03
North Gower 1.46 5.51 217.02 1.28 5.21 205.21
Vankleek Hil 1.39 5.44 214.26 1.04 4.97 195.76
Huron FOB 1.33 1.41 1.43N/A 5.38 211.90N/A
Kent FOB 1.45 5.50 216.62 0.95 4.88 192.22
Lamb FOB 1.35 5.40 212.69 1.00 4.93 194.18
Mdsx FOB 1.40 1.50 1.55 1.60 5.45 214.66N/A
FOB SW Que 1.75 5.80 228.43N/A
Track 1.71 5.76 226.66N/A
PROCESSORS
Chat-Eth N/A N/A 1.55 1.60 1.04 4.97 195.76
Jhnstwn-Eth N/A 1.54 1.61 1.66 1.37 5.30 208.75
Aylmer-Eth 1.60 1.68 1.70 1.75 5.65 222.53 1.20 5.13 202.06
Sarn-Eth 1.55 1.60 1.70N/A 5.60 220.56N/A
London-Ing N/A 1.70 1.75 1.80 1.25 5.18 204.03
Pt.Colb-Ing N/A N/A N/A N/A N/A
Cardnl-Ing 1.75N/A 1.75 1.80 5.80 228.43 1.38 5.31 209.14
W O Feed 1.81 5.86 230.72
US Rep 1.92 5.97 235.13
Toledo El. 0.00 4.05 159.54 -0.26 3.67 144.49
TRANSFER
Pt. Colb 1.70 5.75 226.47 1.00 4.93 194.18
Prescott 1.78 5.83 229.62 1.38 5.31 209.14
HI SD CRN 1.30 5.35 1/4
*Wet Bid
Exchange rate was 1.3135 down 0.0030
Chicago soybeans closed moderately higher to higher.
JAN21 HI 10.88 NOV21 HI 9.91 1/2
LOW 10.55 3/4 LOW 9.73 1/4
CLOSE10.86 1/4 Up 22 CLOSE 9.90 1/2 Up 11 3/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt Basis U.S. $/bu $/mt
ELEVATORS +JAN21+JAN21+MAR21
CK Low 2.90 13.76 505.69 2.40 12.31 452.13
CK High 3.00 13.86 509.36 2.50 12.41 455.81
CK Average 2.92 -0.37 13.78 506.42 2.43 -0.50 12.33 453.11
Essex Cty 2.80 13.66 502.01 2.40 12.31 452.13
Mdsx Low 2.90 13.76 505.69 2.40 12.31 452.13
Mdsx High 2.91 13.77 506.05 2.43 12.34 453.23
Mdsx Average2.91 -0.38 13.77 505.87 2.42 -0.51 12.32 452.68
Hensall 2.93 13.80 506.91 2.40 12.31 452.13
Bruce 2.95 13.81 507.52 2.40 12.31 452.13
Putnam 2.90 13.76 505.69 2.40 12.31 452.13
Burford 3.00 13.86 509.36 2.49 12.40 455.44
Port Perry 2.92 13.78 506.42 2.41 12.32 452.50
Norfolk 2.90 13.76 505.69 2.40 12.31 452.13
Palmerston 3.00 13.86 509.36 2.54 12.45 457.28
Varna 2.95 13.81 507.52 2.40 12.31 452.13
Trenton 2.95 13.81 507.52 2.50 12.41 455.81
Winchester 3.08 13.94 512.30 2.69 12.60 462.79
North Gower 3.03 13.89 510.46 2.63 12.54 460.58
Vankleek Hil2.84 13.70 503.48 2.55 12.46 457.64
Huron FOB 2.92 3.12 2.87 N/A 13.78 506.42 N/A
Kent FOB 3.05 13.91 511.20 2.40 12.31 452.13
Lambton FOB 3.10 13.96 513.03 2.45 12.36 453.97
Mdsx FOB 3.18 3.32 2.99 3.03 14.04 515.97 2.57 12.48 458.38
PROCESSORS
Windsor 3.04 13.90 510.83 2.60 12.51 459.48
TRANSFER
Hamilton 3.50 14.36 527.73 2.80 12.71 466.83
Prescott 3.10 13.96 513.03 2.82 12.73 467.56
Port Colborn3.53 14.39 528.83 N/A
Toledo El. 0.00 10.86 399.13 -0.46 9.45 347.08
Exchange rate was 1.3135 down 0.0030
Chicago wheat closed narrowly mixed.
DEC20 HI 6.10 1/2 JUL21 HI 6.04 3/4
LOW 5.97 3/4 LOW 5.94 1/4
CLOSE 6.06 Down 2 CLOSE 6.03 3/4 Up 1 3/4
Minni wheat closed slightly higher.
DEC20 HI 5.58 1/2 SEP21 HI 5.86
LOW 5.48 LOW 5.77 1/2
CLOSE 5.57 Up 4 3/4 CLOSE 5.85 1/2 Up 4 1/4
GFO Cash Wheat Prices - DEL Terminal
Harvest 20 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.44 1.64 1.44 1.29
CAD $/bu 7.50 7.70 7.50 6.86
CAD $/tonne 275.57 282.81 275.57 251.92
Direct MarkHarvest 2020 Harvest 2021
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 1.15 N/A N/A N/A 1.15 N/A
London 1.26 1.33 1.07 N/A 1.51 1.51 1.11 N/A
Hensall 1.35 N/A 1.15 N/A 1.40 N/A 1.15 N/A
Trenton N/A N/A N/A N/A N/A N/A 1.20 N/A
Bruce 1.35 1.35 1.15 1.40 1.30 1.35 1.15 1.25
Essex N/A N/A 1.15 N/A N/A N/A 1.15 N/A
Norwich 1.35 N/A 1.15 N/A 1.40 N/A 1.15 N/A
Port Hope N/A N/A 1.15 N/A N/A N/A 1.15 N/A
Kent Bridge 1.35 N/A 1.15 N/A 1.40 N/A 1.15 N/A
Chatham N/A N/A 1.15 N/A N/A N/A 1.15 N/A
Brigden N/A N/A 1.15 N/A N/A N/A 1.20 N/A
Palmerston N/A 1.30 1.14 1.15 N/A 1.48 1.15 0.93
Varna 1.35 1.35 1.15 N/A 1.35 1.35 1.15 N/A
Mitchell 1.35 1.40 1.15 N/A 1.40 1.45 1.15 N/A
Thornton N/A N/A N/A 1.56 N/A N/A N/A N/A
North Gower N/A 1.35 1.20 0.90 N/A 1.62 1.32 0.90
W O Feed 1.75
TERMINAL
Port Colbor N/A N/A 1.66 N/A N/A N/A 1.55 N/A
PROCESSORS
Toledo FM N/A N/A 1.90 N/A N/A N/A 2.01 N/A
Toledo El. 5.86US 7.70CA 5.99US 7.85CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 21 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.61 1.74 1.44 1.04
CAD $/bu 7.64 7.78 7.47 6.89
CAD $/tonne 280.89 285.71 274.63 253.30
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 618.08
DDG's FOB Srn & Aylm 280.00 - 285.00
---
Ontario Grain Market Commentary for November 4, 2020
By Todd Austin, Grain Farmers of Ontario
Wednesday, November 4, 2020
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT Dec 4.05 ¼ ↑ 3 ¾ Cents
Soybeans CBOT Jan 10.76 ¼ ↑ 31 ½ Cents
Wheat CBOT Dec 6.06 ↓ 2 ¾ Cents
Wheat Minn. Dec 5.57 ↑ 5 Cents
Wheat Kansas Dec 5.59 ¾ ↑ 16 ½ Cents
Oats CBOT Dec 2.96 ¾ ↑ ¾ Cents
Canadian $ Sept 0.7617 ↑ 95 Points
CORN:
82% of the U.S. corn crop has been harvested, up 10% from the past week. Michigan harvest is 53% complete while Ohio has completed 41% of their corn crop.
According to the Asian Times Financial, China is considering permits for a million of tonnes of additional corn imports over the coming year due to a huge and growing demand for animal feed in China. Such new orders would place China as the world's top corn importer and could drive up global prices for corn and other grains.
SOYBEANS:
The U.S. soybean crop is 87% complete, ahead of the five-year average of 83%. Closer to home, Michigan soybean harvest is 79% finished and Ohio is 77% complete.
Brazilian farmers are trying to make up for lost time, working as quickly as possible to get their soybeans planted as quickly as possible. In Mato Grosso, farmers started planting on October 25 and plan to be finished by the end of the first week of November. In Parana, the department of Rural Economics reported that 61% of expected soybean acres have been planted. This is an increase of 29% from the previous week.
WHEAT:
The U.S. winter wheat crop national ratings are at their lowest in 20 years. The wheat crop is rated 43% good-to-excellent. These low ratings are attributed to drought conditions over much of the central and southern Plains.
China recently sold 2.7 million tonnes of wheat from state reserves. With increasingly high corn prices and tight supplies, feed buyers were stocking up on wheat as a substitute for corn.
2020 crop year prices for October 21, 2020, at the market close, are as follows:
SWW at $275.46/mt ($7.50/bu), HRW at $282.69/mt ($7.69/bu) + protein,
HRS at $ 251.82/mt ($6.85/bu) + protein, and SRW at $275.46/mt ($7.50/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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