[Farmmarketnews] Wednesday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Sep 16 15:38:44 EDT 2020
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, September 16
(All Bases in CAD)
Exchange rate was 1.3154 down 0.0026
Chicago corn closed moderately higher.
DEC20 HI 3.72 DEC20 HI 3.72
LOW 3.61 3/4 LOW 3.61 3/4
CLOSE3.71 3/4 Up 5 3/4 CLOSE 3.71 3/4 Up 5 3/4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt U.S. $/bu $/mt Cntrct U.S. $/bu $/mt
ELEVATORS +DEC20+DEC20+MAR21
CK Low 1.60 5.32 209.34 1.00 4.72 185.72
CK High 1.65 5.37 211.31 1.00 4.72 185.72
CK Avg 1.63 0.35 5.35 210.65 1.00 -0.14 4.72 185.72
Essex Cty 1.65 5.37 211.31 1.00 4.72 185.72
Mdsx Low 1.65 5.37 211.31 1.00 4.72 185.72
Mdsx High 1.65 5.37 211.31 1.00 4.72 185.72
Mdsx Avg 1.65 0.36 5.37 211.31 1.00 -0.14 4.72 185.72
Hensall 1.67 5.38 211.97 1.02 4.73 186.38
Bruce 1.60 5.32 209.34 1.00 4.72 185.72
Putnam 1.65 5.37 211.31 1.00 4.72 185.72
Burford 1.65 5.37 211.31 1.00 4.72 185.72
Port Perry 1.65 5.37 211.31 1.20 4.92 193.59
Norfolk 1.65 5.37 211.31 1.00 4.72 185.72
Palmerston 1.68 5.40 212.49 1.04 4.76 187.29
Varna 1.65 5.37 211.31 1.00 4.72 185.72
Trenton 1.65 5.37 211.31 1.20 4.92 193.59
Winchester N/A 1.50 5.22 205.40
North Gower 1.60 5.32 209.34 1.45 5.17 203.44
Vankleek HilN/A 1.17 4.89 192.41
Huron FOB 1.92 5.64 221.94 1.18 4.90 192.81
Kent FOB 1.85 5.57 219.18 1.10 4.82 189.66
Lamb FOB 1.83 5.55 218.40 1.10 4.82 189.66
Mdsx FOB 1.80 1.15 1.15N/A 5.52 217.21 1.15 4.87 191.63
FOB SW Que 1.49 5.21 205.01N/A
Track 2.16 5.88 231.39N/A
PROCESSORS
Chat-Eth 1.89N/A N/A 1.32 5.61 220.76N/A
Jhnstwn-Eth N/A N/A 1.49 1.52 1.49 5.21 205.01
Aylmer-Eth N/A N/A N/A N/A N/A
Sarn-Eth N/A N/A 1.25N/A 1.25 4.97 195.56
London-Ing 1.90 1.95 1.45 1.45 5.62 221.15 1.45 5.17 203.44
Pt.Colb-Ing N/A N/A N/A N/A N/A
Cardnl-Ing N/A 1.70 1.65 1.50 1.65* 5.37 211.31
W O Feed 2.30 6.01 236.74
US Rep 2.03 5.75 226.27
Toledo El. -0.20 3.52 138.58 -0.26 3.45 135.98
TRANSFER
Pt. Colb 2.10 5.82 229.02 1.40 5.12 201.47
Prescott 1.83 5.55 218.40 1.66 5.38 211.70
HI SD CRN 1.00 4.71 3/4
*Wet Bid
Exchange rate was 1.3154 down 0.0026
Chicago soybeans closed slightly to moderately higher.
NOV20 HI 10.13 3/4 NOV20 HI 10.13 3/4
LOW 9.85 LOW 9.85
CLOSE10.11 1/4 Up 19 3/4 CLOSE 10.11 1/4 Up 19 3/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt Basis U.S. $/bu $/mt
ELEVATORS +NOV20+NOV20+JAN21
CK Low 2.55 12.66 465.27 2.55 12.66 465.27
CK High 2.60 12.71 467.10 2.60 12.71 467.10
CK Average 2.57 -0.47 12.69 466.12 2.58 -0.47 12.69 466.43
Essex Cty 2.55 12.66 465.27 2.60 12.71 467.10
Mdsx Low 2.55 12.66 465.27 2.55 12.66 465.27
Mdsx High 2.57 12.68 466.00 2.57 12.68 466.00
Mdsx Average2.56 -0.48 12.67 465.63 2.56 -0.49 12.67 465.63
Hensall 2.55 12.66 465.27 2.55 12.66 465.27
Bruce 2.55 12.66 465.27 2.55 12.66 465.27
Putnam 2.55 12.66 465.27 2.55 12.66 465.27
Burford 2.64 12.75 468.57 2.64 12.75 468.57
Port Perry 2.56 12.67 465.63 2.56 12.67 465.63
Norfolk 2.55 12.66 465.27 2.60 12.71 467.10
Palmerston 2.68 12.79 470.04 2.62 12.73 467.84
Varna N/A 2.55 12.66 465.27
Trenton N/A 2.50 12.61 463.43
Winchester N/A 2.73 12.84 471.88
North Gower 2.70 12.81 470.78 2.73 12.84 471.88
Vankleek Hil N/A 2.65 12.76 468.94
Huron FOB 2.85 12.96 476.29 2.72 12.83 471.51
Kent FOB 2.55 12.66 465.27 2.60 12.71 467.10
Lambton FOB 2.75 12.86 472.62 2.60 12.71 467.10
Mdsx FOB 2.82 2.69 2.76 N/A 12.93 475.19 2.69 12.80 470.41
PROCESSORS
Windsor N/A 2.99 13.10 481.43
TRANSFER
Hamilton 2.95 13.06 479.96 3.05 13.16 483.64
Prescott N/A 3.00 13.11 481.80
Port Colborn3.10 13.21 485.48 3.17 13.28 488.05
Toledo El. -0.26 9.85 361.90 -0.26 9.85 361.89
Exchange rate was 1.3154 down 0.0026
Chicago wheat closed slightly higher.
DEC20 HI 5.43 JUL21 HI 5.56
LOW 5.33 1/4 LOW 5.47 1/4
CLOSE 5.42 Up 3 3/4 CLOSE 5.55 3/4 Up 4
Minni wheat closed slightly to moderately higher.
DEC20 HI 5.32 1/4 SEP21 HI 5.68
LOW 5.22 3/4 LOW 5.62 1/2
CLOSE 5.31 1/2 Up 7 1/4 CLOSE 5.68 Up 4 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 1.71 1.38 1.22
CAD $/bu 6.93 7.13 6.80 6.53
CAD $/tonne 254.72 261.97 249.89 239.98
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 0.95 N/A N/A N/A 1.05 N/A
London 1.04 1.10 0.90 N/A 1.41 1.41 1.01 N/A
Hensall 1.20 N/A 0.95 N/A 1.30 N/A 1.05 N/A
Trenton N/A N/A 0.95 N/A N/A N/A 1.00 N/A
Bruce 1.00 1.15 0.95 0.95 1.10 1.25 1.00 N/A
Essex N/A N/A 0.95 N/A N/A N/A 1.05 N/A
Norwich 1.20 N/A 0.95 N/A 1.30 N/A 1.05 N/A
Port Hope N/A N/A 0.95 N/A N/A N/A 1.00 N/A
Kent Bridge 1.20 N/A 0.95 N/A 1.30 N/A 1.05 N/A
Chatham N/A N/A 0.95 N/A N/A N/A 1.05 N/A
Brigden N/A N/A 0.95 N/A N/A N/A 1.05 N/A
Palmerston N/A 1.39 0.99 1.08 N/A 1.58 1.12 0.75
Varna 1.05 1.25 0.95 N/A 1.25 1.30 1.00 N/A
Mitchell 1.20 1.30 0.95 N/A 1.30 1.40 1.05 N/A
Thornton N/A N/A N/A 1.02 N/A N/A N/A N/A
North Gower N/A 1.40 1.25 1.00 N/A 1.68 1.41 0.88
W O Feed 1.53
TERMINAL
Port Colbor N/A N/A 1.37 N/A N/A N/A 1.41 N/A
PROCESSORS
Toledo FM N/A N/A 1.71 N/A N/A N/A 1.89 N/A
Toledo El. 5.32US 7.00CA 5.51US 7.25CA
GFO Contract Wheat Prices - DEL Terminal
Harvest 21 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)
Basis 1.63 1.76 1.43 1.01
CAD $/bu 7.19 7.32 6.99 6.69
CAD $/tonne 264.06 268.90 256.80 245.80
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 493.51
DDG's FOB Srn & Aylm 240.00
---
Ontario Grain Market Commentary for September 16,2020
By Todd Austin, Grain Farmers of Ontario
Wednesday, September 16, 2020
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT Dec 3.71 ¾ ↑ 11 ½ Cents
Soybeans CBOT Nov 10.11 ¼ ↑ 32 ½ Cents
Wheat CBOT Dec 5.42 ↓ 1 ¾ Cents
Wheat Minn. Dec 5.31 ½ ↓ 4 Cents
Wheat Kansas Dec 4.75 ↑ 4 Cents
Oats CBOT Dec 2.73 ↓ 3 ¾ Cents
Canadian $ Sept 0.7602 ↑ 5 Points
CORN:
The USDA has pegged 2020 corn production at 14.9 billion bushels, down 2% from August estimates but up 9% from the 13.617 billion bushels produced in 2019. The production forecast is based on 83.5 million harvested acres and an average yield of 178.5 bushels per acre. The previous year was based on 81.322 million acres with a yield of 167.4 bushels per acre.
China has increased their forecasts for corn imports for the 2020 / 2021 year, which are expected to be 7 million tonnes. This is up 2 million tonnes from previous estimates. China has ramped up corn imports as domestic supply tightens.
SOYBEANS:
Soybean futures recently hit and exceeded $10.00 per bushel as demand and crop weather concerns remain. China has been buying US soybeans at a very strong pace since July of this year; they have booked close to 15 million tonnes of U.S. soybeans for the 2020/2021 year thus far. Before the U.S. China trade war, China is expected to buy nearly 90% of their annual U.S. soybean purchases by the end of December before turning to Brazil.
The USDA has recently adjusted U.S. soybean production to 4.313 billion bushels, which is down 3% from their August predictions. 2019 production was 3.552 billion bushels. 2020 production is based on an estimate of 83.02 million acres harvested with an average yield of 51.9 bushels per acre.
WHEAT:
According to the USDA, 10% of the U.S. winter crop has been planted. This pace is just ahead of the five-year average of 8%.
Egypt has accelerated wheat purchases this year. Egypt’s supply ministry has been instructed to keep six months of strategic supplies available. They have procured 2.4 million tonnes of wheat in the July to August time frame. The USDA Foreign Agricultural Service forecasts that Egypt will import 13 million tonnes of wheat this marketing year.
2020 harvest prices for September 16, 2020, at the market close, are as follows:
SWW at $254.71/mt ($6.93/bu), HRW at $261.96/mt ($7.13/bu) + protein,
HRS at $ 249.88/mt ($6.53/bu) + protein, and SRW at $249.88/mt ($6.80/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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