[Farmmarketnews] Wednesday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Feb 24 15:38:56 EST 2021
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, February 24
(All Bases in CAD)
Exchange rate was 1.2531 down 0.0066
Chicago corn closed moderately higher.
MAR21 HI 5.60 3/4 DEC21 HI 4.77 1/2
LOW 5.52 LOW 4.68 3/4
CLOSE5.59 1/4 Up 5 1/2 CLOSE 4.76 3/4 Up 7
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 1.45 7.04 277.25 0.95 5.72 225.09
CK High 1.45 7.04 277.25 0.95 5.72 225.09
CK Avg 1.45 0.03 7.04 277.25 0.95 -0.21 5.72 225.09
Essex Cty 1.45 7.04 277.25 0.95 5.72 225.09
Mdsx Low 1.45 7.04 277.25 0.95 5.72 225.09
Mdsx High 1.45 7.04 277.25 0.95 5.72 225.09
Mdsx Avg 1.45 0.03 7.04 277.25 0.95 -0.21 5.72 225.09
Hensall 1.47 7.06 277.91 0.97 5.73 225.74
Bruce 1.45 7.04 277.25 0.95 5.72 225.09
Putnam 1.45 7.04 277.25 0.95 5.72 225.09
Burford 1.45 7.04 277.25 0.95 5.72 225.09
Port Perry 1.45 7.04 277.25 0.95 5.72 225.09
Norfolk 1.45 7.04 277.25 0.95 5.72 225.09
Palmerston 1.42 7.01 276.07 0.96 5.73 225.48
Varna 1.45 7.04 277.25 0.95 5.72 225.09
Trenton 1.50 7.09 279.22 0.95 5.72 225.09
Winchester 1.50 7.09 279.22 1.40 6.17 242.80
North Gower 1.52 7.11 280.01 1.37 6.14 241.62
Vankleek Hil 1.58 7.17 282.37 1.09 5.86 230.60
Huron FOB 1.50 1.61 1.66 1.82 7.09 279.22 1.06 5.83 229.42
Kent FOB 1.60 7.19 283.16 1.05 5.82 229.02
Lamb FOB N/A 1.10 5.87 230.99
Mdsx FOB 1.60 1.60N/A N/A 7.19 283.16 1.05 5.82 229.02
FOB SW Que 2.17 7.76 305.60N/A
Track 1.78 7.37 290.24N/A
PROCESSORS
Chat-Eth N/A N/A N/A N/A 1.29 6.06 238.47
Jhnstwn-Eth N/A N/A N/A N/A N/A
Aylmer-Eth N/A N/A N/A 1.95 1.25 6.02 236.90
Sarn-Eth N/A N/A N/A N/A N/A
London-Ing N/A N/A N/A 2.10 1.35 6.12 240.84
Pt.Colb-Ing N/A N/A N/A N/A N/A
Cardnl-Ing N/A N/A N/A 2.30 1.60 6.37 250.68
W O Feed 1.95 7.54 296.94
US Rep 2.04 7.63 300.48
Toledo El. -0.09 5.50 216.71 -0.25 4.52 177.82
TRANSFER
Pt. Colb 1.85 7.44 293.00 1.35 6.12 240.84
Prescott N/A 1.53 6.30 247.92
HI SD CRN 1.45 7.04 1/4
*Wet Bid
Exchange rate was 1.2531 down 0.0066
Chicago soybeans closed slightly to moderately higher.
MAR21 HI 14.26 1/2 NOV21 HI 12.40
LOW 14.06 3/4 LOW 12.20
CLOSE14.23 3/4 Up 17 3/4 CLOSE 12.38 1/4 Up 16 1/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt Basis U.S. $/bu $/mt
ELEVATORS +MAR21+MAY21+MAY21
CK Low 3.33 17.57 645.50 2.80 15.18 557.86
CK High 3.37 17.61 646.96 2.85 15.23 559.70
CK Average 3.35 -0.20 17.59 646.35 2.83 -0.25 15.21 558.84
Essex Cty 3.35 17.59 646.23 2.75 15.13 556.02
Mdsx Low 3.31 17.55 644.76 2.79 15.17 557.49
Mdsx High 3.37 17.61 646.96 2.80 15.18 557.86
Mdsx Average3.34 -0.21 17.58 645.86 2.80 -0.27 15.18 557.68
Hensall 3.36 17.59 646.47 2.83 15.22 559.09
Bruce 3.35 17.59 646.23 2.85 15.23 559.70
Putnam 3.37 17.61 646.96 2.80 15.18 557.86
Burford 3.38 17.62 647.33 2.86 15.24 560.07
Port Perry 3.30 17.54 644.39 2.78 15.16 557.13
Norfolk 3.35 17.59 646.23 2.85 15.23 559.70
Palmerston 3.28 17.52 643.66 2.82 15.20 558.60
Varna 3.35 17.59 646.23 2.85 15.23 559.70
Trenton 3.30 17.54 644.39 2.75 15.13 556.02
Winchester 3.30 17.54 644.39 2.85 15.23 559.70
North Gower 3.25 17.49 642.56 2.85 15.23 559.70
Vankleek Hil3.14 17.38 638.51 2.71 15.09 554.55
Huron FOB 3.65 3.65 3.66 3.66 17.89 657.25 2.88 15.26 560.80
Kent FOB 3.50 17.74 651.74 2.85 15.23 559.70
Lambton FOB 3.55 17.79 653.58 3.05 15.43 567.05
Mdsx FOB 3.50 3.50 N/A N/A 17.74 651.74 2.87 15.25 560.43
PROCESSORS
Windsor N/A 2.99 15.37 564.84
TRANSFER
Hamilton 3.90 18.14 666.44 3.30 15.68 576.23
Prescott N/A 3.21 15.59 572.93
Port Colborn3.72 17.96 659.83 3.28 15.66 575.50
Toledo El. 0.03 14.26 524.06 -0.44 11.94 438.86
Exchange rate was 1.2531 down 0.0066
Chicago wheat closed moderately higher to higher.
MAR21 HI 6.83 1/2 JUL21 HI 6.72 3/4
LOW 6.65 LOW 6.55
CLOSE 6.80 1/4 Up 14 1/2 CLOSE 6.70 1/2 Up 13 3/4
Minni wheat closed moderately higher.
MAR21 HI 6.48 SEP21 HI 6.72 1/2
LOW 6.33 3/4 LOW 6.63
CLOSE 6.46 1/2 Up 10 1/2 CLOSE 6.71 1/2 Up 8 1/4
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 1.35 N/A N/A N/A 1.05 N/A
London 1.40 1.33 1.33 N/A 1.25 1.25 1.00 N/A
Hensall 1.40 N/A 1.35 N/A 1.30 N/A 1.05 N/A
Trenton N/A N/A N/A N/A N/A N/A 1.05 N/A
Bruce 1.35 1.45 1.35 1.40 1.25 1.30 1.10 1.30
Essex N/A N/A 1.35 N/A N/A N/A 1.05 N/A
Norwich 1.40 N/A 1.35 N/A 1.30 N/A 1.05 N/A
Port Hope N/A N/A N/A N/A N/A N/A 1.05 N/A
Kent Bridge 1.40 N/A 1.35 N/A 1.30 N/A 1.05 N/A
Chatham N/A N/A 1.35 N/A N/A N/A 1.05 N/A
Brigden N/A N/A 1.35 N/A N/A N/A 1.05 N/A
Palmerston N/A 1.40 1.34 1.32 N/A 1.19 1.00 1.26
Varna 1.35 1.40 1.35 N/A 1.25 1.25 1.05 N/A
Mitchell 1.40 1.50 1.35 N/A 1.30 1.25 1.05 N/A
Thornton N/A N/A N/A 1.24 N/A N/A N/A N/A
North Gower N/A 1.25 1.25 0.95 N/A 0.98 0.98 1.15
W O Feed 1.99
TERMINAL
Port Colbor N/A N/A 1.79 N/A N/A N/A 1.35 N/A
PROCESSORS
Toledo FM N/A N/A 1.72 N/A N/A N/A 1.70 N/A
Toledo El. 6.85US 8.59CA 6.66US 8.34CA
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 626.45
DDG's FOB Srn & Aylm 360.00
---
Ontario Grain Market Commentary for February 24, 2021
By Todd Austin, Grain Farmers of Ontario
Wednesday, February 24, 2021
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT Mar 5.59 ¼ ↑ 6 ¼ Cents
Soybeans CBOT Mar 13.83¾ ↑ 40 Cents
Wheat CBOT Mar 6.80 ¼ ↑ 36 ¼ Cent
Wheat Minn. Mar 6.46 ½ ↑ 23 ½ Cents
Wheat Kansas Mar 6.56 ↑ 31 ½ Cents
Oats CBOT Mar 3.67 ¼ ↑ 14 ½ Cents
Canadian $ Mar 0.7979 ↑ 103 Points
CORN:
The cold snap that affected much of the U.S. last week also caused ethanol plants to either slow production or shut down completely amid power outages and a spike in natural gas prices. According to the U.S. Department of Energy, ethanol production output declined 28 per cent to 658,000 barrels a day. The Renewable Fuels Association estimates that some of their biofuel producing members dropped production by almost 60 per cent.
SOYBEANS:
Brazil’s soybean harvest pace continues to lag behind those in recent years. Currently, 15 per cent of the crop has been harvested compared to 31 per cent last year. Soybean futures have climbed to month-high levels as the trade focuses on the lack of progress of the harvest in Brazil. A broad rally in the oilseeds market has helped to sustain buying interest in the soybean complex.
WHEAT:
U.S. wheat crop condition ratings were a mixed bag for the month of February. In Kansas, (the top U.S. winter wheat producer) and Oklahoma, conditions declined while conditions improved for South Dakota, Colorado, and Montana. The current prices reflect the aforementioned ratings. Globally, there has been renewed interest in the demand for U.S. wheat, in turn, aiding the rise of wheat futures in Chicago.
---
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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