[Farmmarketnews] Wednesday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Feb 3 15:20:58 EST 2021
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, February 3
(All Bases in CAD)
Exchange rate was 1.2776 down 0.0029
Chicago corn closed slightly higher to higher.
MAR21 HI 5.52 1/2 DEC21 HI 4.51 1/2
LOW 5.36 1/2 LOW 4.43
CLOSE5.52 Up 9 CLOSE 4.51 Up 4
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt U.S. $/bu $/mt Cntrct U.S. $/bu $/mt
ELEVATORS +MAY21+MAY21+JUL21
CK Low 1.40 6.92 272.43 0.90 5.41 212.98
CK High 1.45 6.97 274.40 0.95 5.46 214.95
CK Avg 1.43 -0.08 6.95 273.74 0.91 -0.27 5.42 213.31
Essex Cty 1.45 6.97 274.40 0.90 5.41 212.98
Mdsx Low 1.40 6.92 272.43 0.90 5.41 212.98
Mdsx High 1.45 6.97 274.40 0.90 5.41 212.98
Mdsx Avg 1.43 -0.08 6.95 273.41 0.90 -0.28 5.41 212.98
Hensall 1.45 6.97 274.40 0.92 5.43 213.64
Bruce 1.45 6.97 274.40 0.90 5.41 212.98
Putnam 1.40 6.92 272.43 0.90 5.41 212.98
Burford 1.45 6.97 274.40 0.90 5.41 212.98
Port Perry 1.45 6.97 274.40 1.00 5.51 216.92
Norfolk 1.45 6.97 274.40 0.90 5.41 212.98
Palmerston 1.47 6.99 275.18 0.93 5.44 214.16
Varna 1.45 6.97 274.40 0.90 5.41 212.98
Trenton 1.45 6.97 274.40 1.00 5.51 216.92
Winchester 1.45 6.97 274.40 1.25 5.76 226.76
North Gower 1.49 7.01 275.97 1.26 5.77 227.15
Vankleek Hil 1.66 7.18 282.66 1.06 5.57 219.28
Huron FOB 1.54 1.66 1.70 1.79 7.06 277.94 0.95 5.46 214.95
Kent FOB 1.65 7.17 282.27 1.00 5.51 216.92
Lamb FOB N/A 1.05 5.56 218.89
Mdsx FOB 1.65N/A N/A N/A 7.17 282.27 1.05 5.56 218.89
FOB SW Que 2.24 7.76 305.50N/A
Track 1.90 7.42 291.92N/A
PROCESSORS
Chat-Eth N/A N/A N/A N/A 1.06 5.57 219.28
Jhnstwn-Eth N/A N/A N/A N/A 1.44 5.95 234.24
Aylmer-Eth N/A N/A N/A 1.90 1.20 5.71 224.79
Sarn-Eth N/A N/A N/A N/A N/A
London-Ing N/A N/A N/A 1.95 1.30 5.81 228.73
Pt.Colb-Ing N/A N/A N/A N/A N/A
Cardnl-Ing N/A N/A N/A 2.05 1.45 5.96 234.63
W O Feed 2.05 7.57 297.86
US Rep 2.17 7.69 302.74
Toledo El. -0.09 5.43 213.79 -0.26 4.25 167.49
TRANSFER
Pt. Colb 1.95 7.47 294.08 1.35 5.86 230.70
Prescott N/A 1.50 6.01 236.60
HI SD CRN 1.45 6.97
*Wet Bid
Exchange rate was 1.2776 down 0.0029
Chicago soybeans closed slightly to moderately higher.
MAR21 HI 13.72 1/2 NOV21 HI 11.58
LOW 13.42 1/2 LOW 11.35 3/4
CLOSE13.71 1/4 Up 16 1/2 CLOSE 11.56 1/4 Up 5 3/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt Basis U.S. $/bu $/mt
ELEVATORS +MAR21+MAY21+MAY21
CK Low 3.35 17.06 626.94 2.74 14.30 525.53
CK High 3.40 17.11 628.78 2.80 14.36 527.73
CK Average 3.39 -0.33 17.10 628.47 2.79 -0.33 14.35 527.36
Essex Cty 3.40 17.11 628.78 2.70 14.26 524.06
Mdsx Low 3.33 17.04 626.20 2.72 14.28 524.79
Mdsx High 3.40 17.11 628.78 2.80 14.36 527.73
Mdsx Average3.37 -0.35 17.08 627.49 2.76 -0.35 14.32 526.26
Hensall 3.37 17.08 627.55 2.75 14.31 525.89
Bruce 3.40 17.11 628.78 2.80 14.36 527.73
Putnam 3.40 17.11 628.78 2.80 14.36 527.73
Burford 3.40 17.11 628.78 2.79 14.35 527.36
Port Perry 3.32 17.03 625.84 2.71 14.27 524.42
Norfolk 3.40 17.11 628.78 2.80 14.36 527.73
Palmerston 3.37 17.08 627.67 2.70 14.26 524.06
Varna 3.35 17.06 626.94 2.75 14.31 525.89
Trenton 3.35 17.06 626.94 2.75 14.31 525.89
Winchester 3.35 17.06 626.94 2.75 14.31 525.89
North Gower 3.38 17.09 628.04 2.78 14.34 527.00
Vankleek Hil3.32 17.03 625.84 2.75 14.31 525.89
Huron FOB 3.61 3.61 3.66 3.66 17.32 636.49 2.86 14.42 529.94
Kent FOB 3.50 17.21 632.45 2.80 14.36 527.73
Lambton FOB 3.65 17.36 637.96 2.95 14.51 533.24
Mdsx FOB 3.53 3.59 N/A N/A 17.24 633.55 2.92 14.48 532.14
PROCESSORS
Windsor 3.86 17.57 645.68 2.95 14.51 533.24
TRANSFER
Hamilton 3.90 17.61 647.15 3.25 14.81 544.27
Prescott N/A 3.07 14.63 537.65
Port Colborn3.87 17.58 646.05 3.33 14.89 547.21
Toledo El. -0.13 13.58 499.15 -0.45 11.12 408.42
Exchange rate was 1.2776 down 0.0029
Chicago wheat closed slightly higher.
MAR21 HI 6.49 3/4 JUL21 HI 6.33 3/4
LOW 6.25 3/4 LOW 6.16
CLOSE 6.48 1/4 Up 3 1/2 CLOSE 6.33 Up 3
Minni wheat closed slightly higher.
MAR21 HI 6.27 1/4 SEP21 HI 6.46 1/2
LOW 6.09 1/2 LOW 6.31
CLOSE 6.25 Up 4 CLOSE 6.45 1/2 Up 4 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 1.40 N/A N/A N/A 1.10 N/A
London 1.39 1.32 1.32 N/A 1.29 1.29 1.09 N/A
Hensall 1.45 N/A 1.40 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 1.40 1.30 1.40 1.25 1.30 1.10 1.30
Essex N/A N/A 1.40 N/A N/A N/A 1.05 N/A
Norwich 1.45 N/A 1.40 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 1.45 N/A 1.40 N/A 1.35 N/A 1.10 N/A
Chatham N/A N/A 1.40 N/A N/A N/A 1.05 N/A
Brigden N/A N/A 1.40 N/A N/A N/A 1.05 N/A
Palmerston N/A 1.23 1.42 1.42 N/A 1.30 1.11 1.35
Varna 1.40 1.45 1.40 N/A 1.30 1.35 1.10 N/A
Mitchell 1.45 1.55 1.40 N/A 1.35 1.30 1.10 N/A
Thornton N/A N/A N/A 1.18 N/A N/A N/A N/A
North Gower N/A 1.17 1.17 0.90 N/A 1.16 1.16 1.09
W O Feed 2.01
TERMINAL
Port Colbor N/A N/A 1.78 N/A N/A N/A 1.42 N/A
PROCESSORS
Toledo FM N/A N/A 1.80 N/A N/A N/A 1.76 N/A
Toledo El. 6.48US 8.28CA 6.28US 8.02CA
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 645.41
DDG's FOB Srn & Aylm 360.00
---
Ontario Grain Market Commentary for February 3, 2021
By Todd Austin, Grain Farmers of Ontario
Wednesday, February 3, 2021
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT Mar 5.52 ↑ 18 Cents
Soybeans CBOT Mar 13.71 ¼ ↓ 3 ½ Cents
Wheat CBOT Mar 6.48 ¼ ↓ 10 Cent
Wheat Minn. Mar 6.25 ↓ 7 ¾ Cents
Wheat Kansas Mar 6.25 ½ ↓ 11 ¼ Cents
Oats CBOT Mar 3.49 ↓ 3 ½ Cents
Canadian $ Mar 0.7829 ↑ 5 Points
CORN:
Mexico’s corn imports could fall by 9 per cent, or 1.5 million tonnes, this year. The Mexican government is trying to boost local production while at the same time discouraging the use of genetically modified grains. The government is looking to substitute 30% of Mexico’s current volume of imports with national production by the year 2024. Mexican corn farms are much smaller than U.S. or Canadian farms and yields are much lower as well.
SOYBEANS:
The U.S. Department of Agriculture has forecast Brazilian soybean production to be 133 million tonnes. Harvest has been slow thus far, with approximately 2 per cent harvested, versus 9 per cent last year at this time. There is also talk of a potential strike by truck drivers, which would disrupt deliveries to ports. The vessel line-up to load soybeans out of Brazilian ports has increased to almost 9 million tonnes. Shipments that were scheduled for January have been pushed into February, and it is likely that most of the February shipment will be pushed to March.
WHEAT:
Total wheat production in the EU and the UK is expected to reach 147 million tonnes for this marketing year. This would be an increase of 8% over the past year. France, the EU’s largest wheat exporting country, is expected to produce 37 million tonnes of wheat. U.S. milling of whole wheat flour is down 10% from 2019, according to the National Agricultural Statistics Service of the USDA. Whole wheat flour production has fallen for three consecutive years.
---
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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