[Farmmarketnews] Wednesday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Nov 18 15:27:28 EST 2020
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, November 18
(All Bases in CAD)
Exchange rate was 1.305 down 0.0029
Chicago corn closed slightly to moderately higher.
DEC20 HI 4.28 1/2 DEC21 HI 4.11 1/2
LOW 4.18 1/2 LOW 4.06
CLOSE4.25 3/4 Up 5 1/2 CLOSE 4.09 Up 1 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 1.30 5.56 218.79 0.90 4.99 196.45
CK High 1.30 5.56 218.79 0.95 5.04 198.42
CK Avg 1.30 0.00 5.56 218.79 0.91 -0.25 5.00 196.78
Essex Cty 1.30 5.56 218.79 0.90 4.99 196.45
Mdsx Low 1.30 5.56 218.79 0.90 4.99 196.45
Mdsx High 1.30 5.56 218.79 0.90 4.99 196.45
Mdsx Avg 1.30 0.00 5.56 218.79 0.90 -0.26 4.99 196.45
Hensall 1.32 5.57 219.45 0.92 5.01 197.10
Bruce 1.30 5.56 218.79 0.95 5.04 198.42
Putnam 1.30 5.56 218.79 0.90 4.99 196.45
Burford 1.35 5.61 220.76 0.90 4.99 196.45
Port Perry 1.40 5.66 222.73 1.00 5.09 200.38
Norfolk 1.30 5.56 218.79 0.90 4.99 196.45
Palmerston 1.29 5.55 218.40 0.87 4.96 195.27
Varna 1.30 5.56 218.79 0.90 4.99 196.45
Trenton 1.45 5.71 224.69 0.95 5.04 198.42
Winchester 1.55 5.81 228.63 1.25 5.34 210.23
North Gower 1.45 5.71 224.69 1.25 5.34 210.23
Vankleek Hil 1.38 5.64 221.94 1.03 5.12 201.57
Huron FOB 1.39 1.51 1.53 1.57 5.65 222.33N/A
Kent FOB 1.40 5.66 222.73 0.95 5.04 198.42
Lamb FOB 1.45 5.71 224.69 1.05 5.14 202.35
Mdsx FOB 1.35 1.50 1.55 1.65 5.61 220.76N/A
FOB SW Que 1.79 6.05 238.08N/A
Track 1.85 6.11 240.44N/A
PROCESSORS
Chat-Eth N/A N/A 1.57 1.63 1.13 5.22 205.50
Jhnstwn-Eth N/A 1.58 1.63 1.69 1.39 5.48 215.74
Aylmer-Eth 1.75 1.80 1.78 1.80 6.01 236.50 1.20 5.29 208.26
Sarn-Eth N/A 1.65 1.70 1.75 N/A
London-Ing N/A N/A 1.80 1.85 1.25 5.34 210.23
Pt.Colb-Ing N/A N/A N/A N/A N/A
Cardnl-Ing N/A N/A N/A N/A 1.35 5.44 214.16
W O Feed 1.91 6.16 242.65
US Rep 1.95 6.21 244.38
Toledo El. 0.00 4.26 167.61 -0.26 3.83 150.76
TRANSFER
Pt. Colb 1.70 5.96 234.54 1.00 5.09 200.38
Prescott 1.70 5.96 234.54 1.37 5.46 214.95
HI SD CRN 1.30 5.55 3/4
*Wet Bid
Exchange rate was 1.305 down 0.0029
Chicago soybeans closed slightly higher.
JAN21 HI 11.89 3/4 NOV21 HI 10.56 1/2
LOW 11.67 3/4 LOW 10.43 3/4
CLOSE11.75 3/4 Up 6 CLOSE 10.51 1/2 Up 4 1/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt Basis U.S. $/bu $/mt
ELEVATORS +JAN21+JAN21+MAR21
CK Low 3.00 14.76 542.25 2.50 13.02 478.22
CK High 3.05 14.81 544.08 2.55 13.07 480.06
CK Average 3.03 -0.42 14.79 543.41 2.51 -0.52 13.03 478.59
Essex Cty 3.00 14.76 542.25 2.50 13.02 478.22
Mdsx Low 3.00 14.76 542.25 2.50 13.02 478.22
Mdsx High 3.05 14.81 544.08 2.52 13.04 478.95
Mdsx Average3.03 -0.43 14.78 543.16 2.51 -0.52 13.03 478.59
Hensall 3.03 14.79 543.47 2.50 13.02 478.22
Bruce 3.05 14.81 544.08 2.50 13.02 478.22
Putnam 3.00 14.76 542.25 2.50 13.02 478.22
Burford 3.12 14.88 546.65 2.59 13.11 481.53
Port Perry 3.04 14.80 543.72 2.51 13.03 478.59
Norfolk 3.05 14.81 544.08 2.55 13.07 480.06
Palmerston 2.99 14.75 541.88 2.52 13.04 478.95
Varna 3.05 14.81 544.08 2.50 13.02 478.22
Trenton 3.00 14.76 542.25 2.50 13.02 478.22
Winchester 3.13 14.89 547.02 2.69 13.21 485.20
North Gower 2.87 14.63 537.47 2.52 13.04 478.95
Vankleek Hil2.87 14.63 537.47 2.54 13.06 479.69
Huron FOB 3.05 3.31 3.33 3.22 14.81 544.08 N/A
Kent FOB 3.15 14.91 547.76 2.55 13.07 480.06
Lambton FOB 3.25 15.01 551.43 2.70 13.22 485.57
Mdsx FOB 3.31 3.37 3.37 3.37 15.07 553.64 2.58 13.10 481.16
PROCESSORS
Windsor N/A 2.89 13.41 492.55
TRANSFER
Hamilton 3.60 15.36 564.29 2.95 13.47 494.75
Prescott 3.14 14.90 547.39 2.80 13.32 489.24
Port Colborn3.65 15.41 566.13 N/A
Toledo El. 0.00 11.76 432.01 -0.46 10.06 369.60
Exchange rate was 1.305 down 0.0029
Chicago wheat closed slightly higher.
DEC20 HI 6.04 1/4 JUL21 HI 6.08 3/4
LOW 5.92 1/2 LOW 6.00 1/4
CLOSE 5.97 3/4 Up 2 1/2 CLOSE 6.05 1/4 Up 1
Minni wheat closed slightly higher.
DEC20 HI 5.53 1/4 SEP21 HI 5.92
LOW 5.46 1/4 LOW 5.87 1/4
CLOSE 5.50 1/4 Up 1 1/2 CLOSE 5.90 Up 1 3/4
GFO Cash Wheat Prices - DEL Terminal
Harvest 20 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.37 1.56 1.37 1.22
CAD $/bu 7.34 7.54 7.34 6.72
CAD $/tonne 269.84 277.03 269.84 247.06
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 1.20 N/A N/A N/A 1.10 N/A
London 1.19 1.26 1.12 N/A 1.41 1.41 1.11 N/A
Hensall 1.35 N/A 1.20 N/A 1.35 N/A 1.10 N/A
Trenton N/A N/A N/A N/A N/A N/A 1.10 N/A
Bruce 1.30 1.30 1.20 1.35 1.30 1.30 1.10 1.25
Essex N/A N/A 1.20 N/A N/A N/A 1.10 N/A
Norwich 1.35 N/A 1.20 N/A 1.35 N/A 1.10 N/A
Port Hope N/A N/A 1.15 N/A N/A N/A 1.10 N/A
Kent Bridge 1.35 N/A 1.20 N/A 1.35 N/A 1.10 N/A
Chatham N/A N/A 1.20 N/A N/A N/A 1.10 N/A
Brigden N/A N/A 1.20 N/A N/A N/A 1.15 N/A
Palmerston N/A 1.23 1.04 1.35 N/A 1.43 1.10 1.20
Varna 1.35 1.40 1.20 N/A 1.30 1.30 1.10 N/A
Mitchell 1.35 1.45 1.20 N/A 1.35 1.40 1.10 N/A
Thornton N/A N/A N/A 1.48 N/A N/A N/A N/A
North Gower N/A 1.25 1.15 0.85 N/A 1.47 1.17 0.80
W O Feed 1.76
TERMINAL
Port Colbor N/A N/A 1.59 N/A N/A N/A 1.58 N/A
PROCESSORS
Toledo FM N/A N/A 1.82 N/A N/A N/A 1.96 N/A
Toledo El. 5.78US 7.54CA 6.00US 7.82CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 21 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.56 1.69 1.39 1.01
CAD $/bu 7.61 7.74 7.44 6.91
CAD $/tonne 279.71 284.49 273.48 253.74
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 639.24
DDG's FOB Srn & Aylm 300.00
---
Ontario Grain Market Commentary for November 18, 2020
By Todd Austin, Grain Farmers of Ontario
Wednesday, November 18, 2020
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT Dec 4.25 ¾ ↑ 8 ½ Cents
Soybeans CBOT Jan 11.75 ¾ ↑ 23 ¼ Cents
Wheat CBOT Dec 5.97 ¾ ↓ ¼ Cent
Wheat Minn. Dec 5.50 ¼ ↓ 4 ¾ Cents
Wheat Kansas Dec 5.57 ¾ ↑ 3 ½ Cents
Oats CBOT Dec 2.97 ½ ↓ 6 ¼ Cents
Canadian $ Sept 0.7663 ↑ 10 Points
CORN:
The US corn harvest is more or less complete as approximately 95% of the crop has been harvested. Favourable weather conditions have helped with the harvest pace this year as harvest is well ahead of the 5-year average of 87%.
According to the US department of Agriculture, total corn use for ethanol production in September dropped 3% from August, and 1% from last September. Markets will be watching the Thanksgiving holiday gas demand as a bellwether for ethanol demand during the remainder of 2020 and into the new year.
SOYBEANS:
US soybean harvest is 96% complete, just slightly ahead of the 5-year average of 93%. A number of states are reported to be 100% complete.
Soybeans futures have made new highs recently on strong demand from exporters and domestic users. The fact that recent USDA reports are indicating a tightening of stocks is also a factor in the stronger Chicago prices.
WHEAT:
The USDA has rated the US winter wheat crop as 46% good-to-excellent, up one percentage point from last week. Emergence is 85%, also up 1% from the previous week.
Prolonged drought in Argentina has that country lowering its wheat production forecast. Current estimates place wheat production at 16.7 million tonnes as 600,000 ha (1.48 million acres) have been abandoned. Argentina’s wheat production last year was 19.7 million tonnes.
2020 crop year prices for November 18, 2020, at the market close, are as follows:
SWW at $269.84/mt ($7.34/bu), HRW at $277.03/mt ($7.54/bu) + protein,
HRS at $ 247.06/mt ($6.72/bu) + protein, and SRW at $269.84/mt ($7.34/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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