[Farmmarketnews] Wednesday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Apr 28 15:35:46 EDT 2021
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, April 28
(All Bases in CAD)
Exchange rate was 1.2315 down 0.0091
Chicago corn closed lower.
JUL21 HI 6.70 3/4 DEC21 HI 5.63 1/4
LOW 6.29 1/2 LOW 5.37 1/4
CLOSE6.44 Down 10 1/2 CLOSE 5.46 1/2 Down 15 3/4
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 1.70 8.14 320.46 1.00 6.47 254.52
CK High 1.70 8.14 320.46 1.00 6.47 254.52
CK Avg 1.70 0.17 8.14 320.46 1.00 -0.22 6.47 254.52
Essex Cty 1.70 8.14 320.46 1.00 6.47 254.52
Mdsx Low 1.70 8.14 320.46 1.00 6.47 254.52
Mdsx High 1.70 8.14 320.46 1.05 6.52 256.48
Mdsx Avg 1.70 0.17 8.14 320.46 1.03 -0.20 6.49 255.50
Hensall 1.77 8.21 323.08 1.03 6.50 255.83
Bruce 1.75 8.19 322.43 1.00 6.47 254.52
Putnam 1.70 8.14 320.46 1.00 6.47 254.52
Burford 1.70 8.14 320.46 1.00 6.47 254.52
Port Perry 1.70 8.14 320.46 1.00 6.47 254.52
Norfolk 1.70 8.14 320.46 1.00 6.47 254.52
Palmerston 1.65 8.09 318.49 0.97 6.44 253.33
Varna 1.75 8.19 322.43 1.00 6.47 254.52
Trenton 1.70 8.14 320.46 1.00 6.47 254.52
Winchester 1.60 8.04 316.52 1.45 6.92 272.23
North Gower 1.70 8.14 320.46 1.42 6.89 271.05
Vankleek Hil 1.66 8.10 318.88 1.24 6.71 263.96
Huron FOB 1.84 1.91 1.94 2.03 8.28 325.97 1.00 6.47 254.52
Kent FOB 1.85 8.29 326.36 1.12 6.59 259.24
Lamb FOB 1.90 8.34 328.33 1.15 6.62 260.42
Mdsx FOB N/A 1.80N/A N/A 1.10 6.57 258.45
FOB SW Que 2.74 9.18 361.40N/A
Track 2.07 8.51 334.83N/A
PROCESSORS
Chat-Eth N/A N/A N/A N/A N/A
Jhnstwn-Eth N/A N/A N/A N/A N/A
Aylmer-Eth N/A N/A N/A N/A 1.25 6.72 264.36
Sarn-Eth N/A N/A N/A N/A N/A
London-Ing N/A N/A N/A N/A 1.35 6.82 268.29
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 7.07 278.14
W O Feed 2.21 8.65 340.69
US Rep 2.15 8.59 338.17
Toledo El. 0.12 6.56 258.38 -0.25 5.22 205.45
TRANSFER
Pt. Colb 1.95 8.39 330.30 1.40 6.87 270.26
Prescott 2.15 8.59 338.17 1.61 7.08 278.53
HI SD CRN 1.70 8.14 1.00 6.46 1/2
*Wet Bid
Exchange rate was 1.2315 down 0.0091
Chicago soybeans closed slightly to moderately lower.
JUL21 HI 15.44 1/2 NOV21 HI 13.48 1/2
LOW 14.90 1/2 LOW 13.15 1/2
CLOSE15.13 3/4 Down 5 3/4 CLOSE 13.28 Down 14 1/2
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt Basis U.S. $/bu $/mt
ELEVATORS +JUL21+JUL21+JUL21
CK Low 4.00 19.14 703.18 2.70 15.98 587.16
CK High 4.10 19.24 706.86 2.95 16.23 596.35
CK Average 4.08 0.47 19.22 706.05 2.81 -0.21 16.09 591.33
Essex Cty 4.00 19.14 703.18 2.65 15.93 585.33
Mdsx Low 4.07 19.21 705.75 2.76 16.04 589.37
Mdsx High 4.10 19.24 706.86 2.80 16.08 590.84
Mdsx Average4.09 0.47 19.22 706.31 2.78 -0.24 16.06 590.10
Hensall 4.10 19.24 706.86 2.90 16.18 594.51
Bruce 4.10 19.24 706.86 2.80 16.08 590.84
Putnam 4.10 19.24 706.86 2.80 16.08 590.84
Burford 4.14 19.28 708.33 2.83 16.11 591.94
Port Perry 4.09 19.23 706.49 2.78 16.06 590.10
Norfolk 4.00 19.14 703.18 2.70 15.98 587.16
Palmerston 4.23 19.37 711.63 2.80 16.08 590.84
Varna 4.10 19.24 706.86 2.95 16.23 596.35
Trenton 4.39 19.53 717.51 2.95 16.23 596.35
Winchester 3.91 19.05 699.88 2.95 16.23 596.35
North Gower 3.95 19.09 701.35 2.87 16.15 593.41
Vankleek Hil3.49 18.63 684.44 2.98 16.26 597.45
Huron FOB 4.14 4.17 4.23 4.29 19.28 708.33 3.00 16.28 598.19
Kent FOB 4.25 19.39 712.37 2.80 16.08 590.84
Lambton FOB 4.40 19.54 717.88 3.00 16.28 598.19
Mdsx FOB N/A 4.20 4.20 N/A 2.89 16.17 594.15
PROCESSORS
Windsor 4.19 19.33 710.16 2.98 16.26 597.45
TRANSFER
Hamilton 4.60 19.74 725.23 3.25 16.53 607.37
Prescott N/A 3.04 16.32 599.66
Port Colborn4.11 19.25 707.22 3.36 16.64 611.42
Toledo El. 0.25 15.38 565.26 -0.43 12.85 472.12
Exchange rate was 1.2315 down 0.0091
Chicago wheat closed moderately lower.
JUL21 HI 7.41 1/4 JUL21 HI 7.41 1/4
LOW 7.11 1/2 LOW 7.11 1/2
CLOSE 7.22 3/4 Down 10 CLOSE 7.22 3/4 Down 10
Minni wheat closed lower.
JUL21 HI 7.53 1/4 SEP21 HI 7.59 1/2
LOW 7.23 3/4 LOW 7.30 1/4
CLOSE 7.32 Down 15 1/4 CLOSE 7.38 3/4 Down 14 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 N/A N/A N/A N/A 1.10 N/A
London 1.43 1.49 1.49 N/A 1.33 1.26 1.02 N/A
Hensall N/A N/A N/A N/A 1.35 N/A 1.10 N/A
Trenton N/A N/A N/A N/A N/A N/A 1.05 N/A
Bruce 1.60 1.70 1.60 1.50 1.30 1.30 1.10 1.30
Essex N/A N/A 1.55 N/A N/A N/A 1.05 N/A
Norwich N/A N/A N/A N/A 1.35 N/A 1.10 N/A
Port Hope N/A N/A N/A N/A N/A N/A 1.10 N/A
Kent Bridge N/A N/A N/A N/A 1.35 N/A 1.10 N/A
Chatham N/A N/A 1.55 N/A N/A N/A 1.05 N/A
Brigden N/A N/A 1.55 N/A N/A N/A 1.05 N/A
Palmerston N/A N/A 1.55 1.37 N/A 1.18 1.06 1.32
Varna 1.55 1.65 1.55 N/A 1.30 1.30 1.10 N/A
Mitchell N/A N/A N/A N/A 1.35 1.30 1.10 N/A
Thornton 1.43 1.49 1.49 1.02 1.33 1.26 1.02 N/A
North Gower N/A 1.20 1.35 0.90 N/A 0.70 0.93 0.82
W O Feed 2.37
TERMINAL
Port Colbor N/A N/A 1.94 N/A N/A N/A 1.40 N/A
PROCESSORS
Toledo FM N/A N/A 1.83 N/A N/A N/A 1.80 N/A
Toledo El. 7.33US 9.02CA 7.33US 9.02CA
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 600.55
DDG's FOB Srn & Aylm 320.00 - 330.00
---
Ontario Grain Market Commentary for April 28, 2021
By Todd Austin, Grain Farmers of Ontario
Wednesday, April 28, 2021
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT May 6.44 ↑ 37 ½ Cents
Soybeans CBOT May 15.13 ¾ ↑ 34 ¼ Cents
Wheat CBOT May 7.22 ¾ ↑ 47 ¾ Cent
Wheat Minn. May 7.32 ↑ 53 ½ Cents
Wheat Kansas May 6.96 ½ ↑ 58 ¾ Cents
Oats CBOT May 4.07 ½ ↑ 13 Cents
Canadian $ June .8123 ↑ 120 Points
CORN:
Continued dryness in Brazil has farmers there worried that Safrinha corn yields could be lower than earlier estimates. With a good portion of said corn crop planted late, adverse weather could have a noticeable impact on production levels.
As of last Sunday, The U.S. had planted 17% of their expected corn acreage. This progress is below that of the 5-year average of 20%. With issues in Brazil and delays in U.S. planting, combined with an expected tighter U.S. corn carryout, corn futures have had an impressive rally this past month. Nearby futures have moved up nearly 60 cents during the past week. Local cash prices remain strong, especially for old crop corn.
SOYBEANS:
As of the past Sunday, April 25, U.S. farmers had planted 8% of the expected soybean acreage. This pace is faster that the 5-year average of 5%.
Statistics Canada indicates that Canadian farmers will plant 5.3 million acres of soybeans this season. This is up 5.5% from 2020. Production in Ontario is expected to reach 2.9 million acres this year, up 2% from last year.
WHEAT:
Multi-year high corn prices have resulted in Asian feed manufacturers switching to wheat in their animal rations. Collectively, buyers from China, South Korea, and Vietnam are expected to buy over 25 per cent of global corn supplies this year. Therefore, any substitution for alternative feed sources will likely impact global grain trade.
The USDA has rated 49% of the U.S. winter wheat crop as good-to-excellent. This is a decline from the 53% rating from last week. U.S. Spring wheat plantings are 28% complete, which is above the 5-year average and within trade expectations.
---
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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