[Farmmarketnews] Wednesday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Apr 21 15:23:46 EDT 2021
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, April 21
(All Bases in CAD)
Exchange rate was 1.2495 down 0.0122
Chicago corn closed moderately to sharply higher.
MAY21 HI 6.28 1/2 DEC21 HI 5.40 1/2
LOW 6.04 1/2 LOW 5.24
CLOSE6.25 1/2 Up 19 CLOSE 5.36 1/2 Up 8
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt U.S. $/bu $/mt Cntrct U.S. $/bu $/mt
ELEVATORS +JUL21+JUL21+SEP21
CK Low 1.50 7.76 305.30 1.00 6.37 250.58
CK High 1.50 7.76 305.30 1.00 6.37 250.58
CK Avg 1.50 -0.05 7.76 305.30 1.00 -0.27 6.37 250.58
Essex Cty 1.50 7.76 305.30 1.00 6.37 250.58
Mdsx Low 1.50 7.76 305.30 1.00 6.37 250.58
Mdsx High 1.50 7.76 305.30 1.05 6.42 252.55
Mdsx Avg 1.50 -0.05 7.76 305.30 1.03 -0.25 6.39 251.56
Hensall 1.55 7.81 307.27 1.03 6.40 251.89
Bruce 1.55 7.81 307.27 1.00 6.37 250.58
Putnam 1.50 7.76 305.30 1.00 6.37 250.58
Burford 1.50 7.76 305.30 1.00 6.37 250.58
Port Perry 1.50 7.76 305.30 1.00 6.37 250.58
Norfolk 1.50 7.76 305.30 1.00 6.37 250.58
Palmerston 1.50 7.76 305.30 1.03 6.40 251.76
Varna 1.55 7.81 307.27 1.00 6.37 250.58
Trenton 1.55 7.81 307.27 1.00 6.37 250.58
Winchester 1.60 7.86 309.24 1.45 6.82 268.29
North Gower 1.58 7.84 308.45 1.42 6.79 267.11
Vankleek Hil 1.68 7.94 312.39 1.44 6.81 267.90
Huron FOB 1.67 1.96 1.99 2.03 7.93 311.99 1.00 6.37 250.58
Kent FOB 1.62 7.88 310.03 1.12 6.49 255.30
Lamb FOB 1.75 8.01 315.14 1.15 6.52 256.48
Mdsx FOB N/A N/A N/A N/A 1.05 6.42 252.55
FOB SW Que 2.47 8.73 343.49N/A
Track 1.90 8.16 321.05N/A
PROCESSORS
Chat-Eth N/A N/A N/A N/A 1.31 6.68 262.78
Jhnstwn-Eth N/A N/A N/A N/A N/A
Aylmer-Eth N/A N/A N/A 2.68 1.25 6.62 260.42
Sarn-Eth N/A N/A N/A N/A N/A
London-Ing N/A N/A N/A N/A 1.35 6.72 264.36
Pt.Colb-Ing N/A N/A N/A N/A N/A
Cardnl-Ing N/A N/A N/A N/A 1.60 6.97 274.20
W O Feed 2.10 8.36 328.92
US Rep 2.18 8.44 332.07
Toledo El. 0.12 6.38 251.17 -0.25 5.12 201.37
TRANSFER
Pt. Colb 1.80 8.06 317.11 1.40 6.77 266.33
Prescott 2.11 8.37 329.32 1.65 7.02 276.17
HI SD CRN 1.50 7.75 1/2 1.00 6.36 1/2
*Wet Bid
Exchange rate was 1.2495 down 0.0122
Chicago soybeans closed slightly higher to higher.
MAY21 HI 14.99 3/4 NOV21 HI 13.13 3/4
LOW 14.67 1/2 LOW 12.93 1/2
CLOSE14.97 1/4 Up 25 1/4 CLOSE 13.10 1/4 Up 10 3/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt Basis U.S. $/bu $/mt
ELEVATORS +MAY21+JUL21+JUL21
CK Low 3.84 18.81 691.24 2.89 15.99 587.62
CK High 3.90 18.87 693.45 2.90 16.00 587.99
CK Average 3.87 0.10 18.84 692.16 2.90 -0.30 16.00 587.93
Essex Cty 3.85 18.82 691.61 2.85 15.95 586.15
Mdsx Low 3.82 18.79 690.51 2.87 15.97 586.89
Mdsx High 3.90 18.87 693.45 2.90 16.00 587.99
Mdsx Average3.86 0.10 18.83 691.98 2.89 -0.31 15.99 587.44
Hensall 3.87 18.84 692.22 2.93 16.04 589.22
Bruce 3.90 18.87 693.45 2.95 16.05 589.83
Putnam 3.90 18.87 693.45 2.90 16.00 587.99
Burford 3.89 18.86 693.08 2.94 16.04 589.46
Port Perry 3.81 18.78 690.14 2.86 15.96 586.52
Norfolk 3.85 18.82 691.61 2.90 16.00 587.99
Palmerston 3.67 18.64 684.99 2.83 15.93 585.42
Varna 3.85 18.82 691.61 2.95 16.05 589.83
Trenton 3.90 18.87 693.45 2.90 16.00 587.99
Winchester 3.80 18.77 689.77 2.90 16.00 587.99
North Gower 3.60 18.57 682.42 2.90 16.00 587.99
Vankleek Hil3.58 18.55 681.69 3.00 16.10 591.67
Huron FOB 4.07 4.16 3.94 3.94 19.04 699.69 3.00 16.10 591.67
Kent FOB 4.10 19.07 700.79 2.90 16.00 587.99
Lambton FOB 4.10 19.07 700.79 3.00 16.10 591.67
Mdsx FOB 3.95 3.95 N/A N/A 18.92 695.28 3.06 16.16 593.87
PROCESSORS
Windsor 4.31 19.28 708.51 3.13 16.23 596.44
TRANSFER
Hamilton 4.45 19.42 713.65 3.35 16.45 604.53
Prescott N/A 3.12 16.22 596.07
Port Colborn3.86 18.83 691.98 3.41 16.51 606.73
Toledo El. 0.02 15.00 551.06 -0.44 12.67 465.37
Exchange rate was 1.2495 down 0.0122
Chicago wheat closed moderately higher to higher.
MAY21 HI 6.78 3/4 JUL21 HI 6.80
LOW 6.58 3/4 LOW 6.60 1/2
CLOSE 6.73 1/4 Up 13 1/2 CLOSE 6.75 Up 13 3/4
Minni wheat closed moderately higher.
MAY21 HI 6.82 SEP21 HI 6.94 3/4
LOW 6.68 LOW 6.79 3/4
CLOSE 6.78 1/2 Up 9 1/2 CLOSE 6.91 1/2 Up 10 1/2
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 1.45 N/A N/A N/A 1.05 N/A
London 1.34 1.40 1.40 N/A 1.28 1.21 1.03 N/A
Hensall N/A N/A N/A N/A 1.30 N/A 1.05 N/A
Trenton N/A N/A N/A N/A N/A N/A 1.00 N/A
Bruce 1.50 1.60 1.50 1.50 1.25 1.25 1.05 1.30
Essex N/A N/A 1.45 N/A N/A N/A 1.05 N/A
Norwich N/A N/A N/A N/A 1.30 N/A 1.05 N/A
Port Hope N/A N/A N/A N/A N/A N/A 1.00 N/A
Kent Bridge N/A N/A N/A N/A 1.30 N/A 1.05 N/A
Chatham N/A N/A N/A N/A N/A N/A 1.05 N/A
Brigden N/A N/A 1.45 N/A N/A N/A 1.05 N/A
Palmerston N/A N/A 1.50 1.63 N/A 1.45 1.14 1.48
Varna 1.50 1.60 1.50 N/A 1.25 1.25 1.05 N/A
Mitchell N/A N/A N/A N/A 1.30 1.25 1.05 N/A
Thornton 1.34 1.40 1.40 0.97 1.28 1.21 1.03 N/A
North Gower N/A 1.20 1.35 0.90 N/A 0.79 0.96 0.87
W O Feed 2.24
TERMINAL
Port Colbor N/A N/A 1.85 N/A N/A N/A 1.35 N/A
PROCESSORS
Toledo FM N/A N/A 1.68 N/A N/A N/A 1.68 N/A
Toledo El. 6.85US 8.56CA 6.85US 8.56CA
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 590.08
DDG's FOB Srn & Aylm 300.00
---
Ontario Grain Market Commentary for April 21, 2021
By Todd Austin, Grain Farmers of Ontario
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT May 6.25 ½ ↑ 31 ½ Cents
Soybeans CBOT May 14.97 ¼ ↑ 87 ¼ Cents
Wheat CBOT May 6.73 ¼ ↑ 24 ¼ Cent
Wheat Minn. May 6.78 ½ ↑ 17 ½ Cents
Wheat Kansas May 6.30 ¾ ↑ 27 ¼ Cents
Oats CBOT May 3.91 ¾ ↑ 9 ¼ Cents
Canadian $ June .8003 ↑ 16 Points
CORN:
China is rebuilding the nation's hog herd and moving towards more modern and bio-secure systems. This is placing a stronger demand on feed grains. As China buys record levels of corn, we are seeing strength in the corn futures market as values have risen to 8-year highs. Recent USDA estimates project U.S. corn carryout to be 1.351 billion bushels or 33 days of supply to be remaining at the end of the marketing year of August 31, 2021. This carryout figure is 570 million bushels below last year's carryout.
SOYBEANS:
Soybean futures continue to climb, on news of strong global demand and concern with tight supplies. In turn, increased vegetable oil demand improved soybean values as futures are trading at near 7-year highs.
In the month of March, China’s soybean imports from Brazil were down 85% from the same time last year. Reuters reports that soybean imports from the United States for the same time were up 320% from last year. Some of this increase is attributed to vessel delays from previous months finally reaching China in the month of March.
WHEAT:
At a recent virtual conference of the North American Millers’ Association, a panel of soft wheat millers forecast U.S. soft red wheat production to be 333 million bushels. This is up 25%, or 66 million bushels from 2020. The panel also forecast the U.S. soft white wheat production to be an estimated 249 million bushels, up 7% from the previous year.
EU soft wheat exports from last July to mid-April of this year reached 21.34 million tonnes. This figure is down 7.01 million tonnes from last year. It should be noted, that since January 1, 2021, the EU data does not include that of Britain. For the upcoming crop year, Strategic Grains estimates the EU will produce 129.6 million tonnes of soft wheat, up from 119.4 million produced last year. The same group is also not expecting wheat exports to increase significantly next season, due to strong global competition.
---
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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