[Farmmarketnews] Wednesday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Oct 21 15:23:58 EDT 2020
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, October 21
(All Bases in CAD)
Exchange rate was 1.3124 up 0.0008
Chicago corn closed mixed.
DEC20 HI 4.15 1/4 DEC21 HI 4.01 1/2
LOW 4.07 3/4 LOW 3.99
CLOSE4.13 3/4 Up 5 CLOSE 3.99 1/2 Down 3/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt U.S. $/bu $/mt Cntrct U.S. $/bu $/mt
ELEVATORS +DEC20+MAR21+MAR21
CK Low 1.20 5.34 210.13 0.90 4.90 192.71
CK High 1.20 5.34 210.13 0.90 4.90 192.71
CK Avg 1.20 -0.07 5.34 210.13 0.90 -0.26 4.90 192.71
Essex Cty 1.20 5.34 210.13 0.90 4.90 192.71
Mdsx Low 1.20 5.34 210.13 0.90 4.90 192.71
Mdsx High 1.20 5.34 210.13 0.90 4.90 192.71
Mdsx Avg 1.20 -0.07 5.34 210.13 0.90 -0.26 4.90 192.71
Hensall 1.20 5.34 210.13 0.88 4.88 192.05
Bruce 1.20 5.34 210.13 0.85 4.85 190.74
Putnam 1.20 5.34 210.13 0.90 4.90 192.71
Burford 1.20 5.34 210.13 0.90 4.90 192.71
Port Perry 1.25 5.39 212.10 0.95 4.95 194.68
Norfolk 1.20 5.34 210.13 0.90 4.90 192.71
Palmerston 1.14 5.28 207.77 0.85 4.85 190.74
Varna 1.20 5.34 210.13 0.85 4.85 190.74
Trenton 1.25 5.39 212.10 0.95 4.95 194.68
Winchester 1.55 5.69 223.91 1.25 5.25 206.49
North Gower 1.46 5.60 220.36 1.28 5.28 207.67
Vankleek Hil 1.28 5.42 213.28 0.92 4.92 193.49
Huron FOB 1.29 1.29 1.32 1.36 5.43 213.67N/A
Kent FOB N/A 0.95 4.95 194.68
Lamb FOB N/A 1.00 5.00 196.64
Mdsx FOB 1.30 1.30 1.40 1.45 5.44 214.06N/A
FOB SW Que 1.68 5.82 229.02N/A
Track 1.61 5.75 226.27N/A
PROCESSORS
Chat-Eth N/A N/A 1.56 1.58 1.19 5.19 204.12
Jhnstwn-Eth N/A N/A 1.71 1.71 1.39 5.39 212.00
Aylmer-Eth N/A 1.60 1.60 1.60 1.20 5.20 204.52
Sarn-Eth N/A 1.40 1.45 1.50 N/A
London-Ing N/A 1.55 1.60 1.65 1.25 5.25 206.49
Pt.Colb-Ing N/A N/A N/A N/A N/A
Cardnl-Ing 1.75 1.65 1.60 1.65 5.89 231.78 1.35 5.35 210.42
W O Feed 1.82 5.96 234.46
US Rep 1.95 6.09 239.65
Toledo El. -0.20 3.94 155.14 -0.26 3.73 146.96
TRANSFER
Pt. Colb 1.60 5.74 225.88 1.00 5.00 196.64
Prescott 1.68 5.82 229.02 1.32 5.32 209.24
HI SD CRN 1.20 5.33 3/4
*Wet Bid
Exchange rate was 1.3124 up 0.0008
Chicago soybeans closed slightly higher.
NOV20 HI 10.77 NOV21 HI 9.85 1/2
LOW 10.64 1/4 LOW 9.78
CLOSE10.72 Up 8 CLOSE 9.82 1/2 Up 3 1/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt Basis U.S. $/bu $/mt
ELEVATORS +NOV20+JAN21+JAN21
CK Low 2.75 13.47 494.94 2.45 12.28 451.03
CK High 2.80 13.52 496.77 2.46 12.29 451.40
CK Average 2.79 -0.43 13.51 496.35 2.45 -0.46 12.28 451.09
Essex Cty 2.70 13.42 493.10 2.45 12.28 451.03
Mdsx Low 2.79 13.51 496.41 2.45 12.28 451.03
Mdsx High 2.80 13.52 496.77 2.47 12.30 451.76
Mdsx Average2.80 -0.42 13.52 496.59 2.46 -0.45 12.29 451.40
Hensall 2.87 13.59 499.22 2.48 12.31 452.25
Bruce 2.85 13.57 498.61 2.50 12.33 452.87
Putnam 2.80 13.52 496.77 2.45 12.28 451.03
Burford 2.86 13.58 498.98 2.54 12.37 454.34
Port Perry 2.78 13.50 496.04 2.46 12.29 451.40
Norfolk 2.80 13.52 496.77 2.45 12.28 451.03
Palmerston 2.86 13.58 498.98 2.47 12.30 451.76
Varna 2.90 13.62 500.45 2.50 12.33 452.87
Trenton 2.80 13.52 496.77 2.45 12.28 451.03
Winchester 3.00 13.72 504.12 2.63 12.46 457.64
North Gower 2.92 13.64 501.18 2.58 12.41 455.81
Vankleek Hil2.82 13.54 497.51 2.33 12.16 446.62
Huron FOB 3.05 3.18 3.18 2.92 13.77 505.96 N/A
Kent FOB 2.80 13.52 496.77 2.45 12.28 451.03
Lambton FOB 2.90 13.62 500.45 2.40 12.23 449.19
Mdsx FOB 2.94 3.14 3.14 2.94 13.66 501.92 2.53 12.36 453.97
PROCESSORS
Windsor 3.01 13.73 504.49 2.58 12.41 455.81
TRANSFER
Hamilton 3.25 13.97 513.31 2.85 12.68 465.73
Prescott 3.08 13.80 507.06 2.74 12.57 461.68
Port Colborn3.42 14.14 519.56 N/A
Toledo El. -0.16 10.56 388.11 -0.46 9.37 344.15
Exchange rate was 1.3124 up 0.0008
Chicago wheat closed narrowly mixed.
DEC20 HI 6.37 1/2 JUL21 HI 6.24 3/4
LOW 6.28 3/4 LOW 6.18
CLOSE 6.29 3/4 Down 2 1/4 CLOSE 6.21 Up 2 1/2
Minni wheat closed slightly higher.
DEC20 HI 5.87 3/4 SEP21 HI 5.99
LOW 5.76 3/4 LOW 5.92 3/4
CLOSE 5.82 1/2 Up 4 3/4 CLOSE 5.97 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 1.51 1.70 1.51 1.36
CAD $/bu 7.81 8.00 7.81 7.19
CAD $/tonne 286.81 294.04 286.81 264.02
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 1.10 N/A N/A N/A 1.15 N/A
London 1.32 1.39 1.13 N/A 1.61 1.61 1.15 N/A
Hensall 1.35 N/A 1.10 N/A 1.40 N/A 1.15 N/A
Trenton N/A N/A N/A N/A N/A N/A 1.15 N/A
Bruce 1.10 1.25 1.10 1.25 1.25 1.35 1.15 1.05
Essex N/A N/A 1.10 N/A N/A N/A 1.15 N/A
Norwich 1.35 N/A 1.10 N/A 1.40 N/A 1.15 N/A
Port Hope N/A N/A 1.10 N/A N/A N/A 1.15 N/A
Kent Bridge 1.35 N/A 1.10 N/A 1.40 N/A 1.15 N/A
Chatham N/A N/A 1.10 N/A N/A N/A 1.15 N/A
Brigden N/A N/A 1.10 N/A N/A N/A 1.20 N/A
Palmerston N/A 1.64 1.24 1.23 N/A 1.56 1.23 0.94
Varna 1.15 1.30 1.10 N/A 1.35 1.40 1.15 N/A
Mitchell 1.35 1.40 1.10 N/A 1.40 1.45 1.15 N/A
Thornton N/A N/A N/A 1.66 N/A N/A N/A N/A
North Gower N/A 1.35 1.20 0.95 N/A 1.67 1.41 0.90
W O Feed 1.76
TERMINAL
Port Colbor N/A N/A 1.72 N/A N/A N/A 1.59 N/A
PROCESSORS
Toledo FM N/A N/A 1.97 N/A N/A N/A 2.06 N/A
Toledo El. 6.10US 8.00CA 6.16US 8.07CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 21 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.65 1.79 1.48 1.07
CAD $/bu 7.86 8.00 7.69 7.04
CAD $/tonne 288.98 293.80 282.72 258.64
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 588.42
DDG's FOB Srn & Aylm 250.00 - 275.00
---
Ontario Grain Market Commentary for October 21, 2020
By Todd Austin, Grain Farmers of Ontario
Wednesday, October 21, 2020
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT Dec 4.13 ¾ ↑ 17 ¼ Cents
Soybeans CBOT Nov 10.72 ↑ 15 ¾ Cents
Wheat CBOT Dec 6.29 ¾ ↑ 33 Cents
Wheat Minn. Dec 5.82 ¼ ↑ 36 ½ Cents
Wheat Kansas Dec 5.69 ¾ ↑ 34 ½ Cents
Oats CBOT Dec 3.04 ↑ 16 ¼ Cents
Canadian $ Sept 0.7619 ↑ 82 Points
CORN:
The U.S. corn harvest was 60% complete as of last Sunday. The current harvest pace is well above the five-year average of 43%. Closer to home, both Michigan and Ohio corn harvest is 24% complete.
Chicago corn futures continue to rise and are at 14-month highs due to strong buyer demand and dry weather concerns in Brazil. The full season corn in Brazil is 47% planted which is a slower pace than the 5-year average of 54%. The full season corn crop accounts for a quarter of Brazil’s production. The safrinha corn crop represents three-quarters of Brazil’s corn production, and the concern with this crop is that planting delays of soybeans will delay the planting of this corn crop later in the season.
SOYBEANS:
The U.S. soybean harvest is 75% complete. As with the corn harvest, the soybean harvest is well above the five-year average of 58%. The Michigan and Ohio soybean harvests are 64% and 65% complete.
Soybean futures are riding on strong U.S. export sales to China and to South American planting delays. Brazil soybean planting remains slow as only 6% of the crop has been planted. Last year over 19% of the crop had been planted by this time.
WHEAT:
Chicago wheat futures are nearing six-year highs amid fears of weather concerns in some key wheat growing regions such as Argentina, Russia, and the Ukraine.
The U.S. Plains have had well below normal rain fall for August and September. According to the USDA’s drought monitor report, 41% of the U.S. winter wheat crop is located in areas experiencing drought. The U.S. Plains have had well below normal rain fall for August and September. This factor has the potential to negatively impact germination and the establishment of the wheat crop in these regions.
2020 crop year prices for October 21, 2020, at the market close, are as follows:
SWW at $286.82/mt ($7.81/bu), HRW at $294.06/mt ($8.00/bu) + protein,
HRS at $ 264.04/mt ($7.19/bu) + protein, and SRW at $286.82/mt ($7.81/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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