[Farmmarketnews] Wednesday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Jan 20 15:31:27 EST 2021
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, January 20
(All Bases in CAD)
Exchange rate was 1.2646 down 0.0084
Chicago corn closed slightly to moderately lower.
MAR21 HI 5.26 1/2 DEC21 HI 4.54 1/4
LOW 5.12 3/4 LOW 4.45 1/2
CLOSE5.22 Down 4 CLOSE 4.49 Down 6
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt U.S. $/bu $/mt Cntrct U.S. $/bu $/mt
ELEVATORS +MAR21+MAY21+MAY21
CK Low 1.40 6.62 260.62 0.90 5.39 212.19
CK High 1.45 6.67 262.59 0.95 5.44 214.16
CK Avg 1.41 0.02 6.63 260.95 0.93 -0.20 5.42 213.51
Essex Cty 1.40 6.62 260.62 0.90 5.39 212.19
Mdsx Low 1.40 6.62 260.62 0.95 5.44 214.16
Mdsx High 1.45 6.67 262.59 0.95 5.44 214.16
Mdsx Avg 1.43 0.03 6.65 261.60 0.95 -0.19 5.44 214.16
Hensall 1.42 6.64 261.27 0.97 5.46 214.82
Bruce 1.40 6.62 260.62 0.95 5.44 214.16
Putnam 1.40 6.62 260.62 0.95 5.44 214.16
Burford 1.45 6.67 262.59 0.95 5.44 214.16
Port Perry 1.45 6.67 262.59 1.00 5.49 216.13
Norfolk 1.40 6.62 260.62 0.90 5.39 212.19
Palmerston 1.32 6.54 257.47 0.93 5.42 213.38
Varna 1.40 6.62 260.62 0.95 5.44 214.16
Trenton 1.40 6.62 260.62 1.00 5.49 216.13
Winchester 1.45 6.67 262.59 1.25 5.74 225.97
North Gower 1.49 6.71 264.16 1.26 5.75 226.37
Vankleek Hil 1.54 6.76 266.13 1.03 5.52 217.31
Huron FOB 1.44 1.44 1.47 1.50 6.66 262.19 0.90 5.39 212.19
Kent FOB 1.60 6.82 268.49 1.00 5.49 216.13
Lamb FOB N/A 1.00 5.49 216.13
Mdsx FOB N/A N/A N/A N/A 1.00 5.49 216.13
FOB SW Que 1.97 7.19 283.06N/A
Track 1.84 7.06 277.94N/A
PROCESSORS
Chat-Eth N/A N/A N/A N/A 1.09 5.58 219.67
Jhnstwn-Eth N/A N/A N/A N/A 1.41 5.90 232.27
Aylmer-Eth N/A N/A N/A N/A 1.20 5.69 224.01
Sarn-Eth N/A N/A N/A N/A N/A
London-Ing N/A N/A N/A N/A 1.25 5.74 225.97
Pt.Colb-Ing N/A N/A N/A N/A N/A
Cardnl-Ing N/A N/A N/A N/A 1.35 5.84 229.91
W O Feed 1.99 7.21 283.69
US Rep 2.01 7.23 284.63
Toledo El. -0.06 5.16 203.01 -0.25 4.24 166.81
TRANSFER
Pt. Colb 1.90 7.12 280.30 1.20 5.69 224.01
Prescott N/A 1.47 5.96 234.63
HI SD CRN 1.45 6.67
*Wet Bid
Exchange rate was 1.2646 down 0.0084
Chicago soybeans closed moderately lower.
MAR21 HI 13.84 1/2 NOV21 HI 11.86 1/2
LOW 13.52 LOW 11.64 3/4
CLOSE13.69 1/2 Down 16 1/4 CLOSE 11.71 3/4 Down 17
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt Basis U.S. $/bu $/mt
ELEVATORS +MAR21+MAR21+MAY21
CK Low 3.21 16.91 621.15 2.64 14.36 527.55
CK High 3.30 17.00 624.46 2.70 14.42 529.75
CK Average 3.25 -0.29 16.95 622.68 2.67 -0.34 14.39 528.77
Essex Cty 3.25 16.95 622.62 2.65 14.37 527.92
Mdsx Low 3.19 16.89 620.42 2.62 14.34 526.81
Mdsx High 3.25 16.95 622.62 2.65 14.37 527.92
Mdsx Average3.22 -0.32 16.92 621.52 2.64 -0.37 14.35 527.36
Hensall 3.25 16.95 622.62 2.62 14.33 526.69
Bruce 3.25 16.95 622.62 2.65 14.37 527.92
Putnam 3.25 16.95 622.62 2.65 14.37 527.92
Burford 3.26 16.96 622.99 2.69 14.41 529.39
Port Perry 3.18 16.88 620.05 2.61 14.33 526.45
Norfolk 3.25 16.95 622.62 2.70 14.42 529.75
Palmerston 3.18 16.88 620.05 2.59 14.31 525.71
Varna 3.25 16.95 622.62 2.60 14.32 526.08
Trenton 3.25 16.95 622.62 2.70 14.42 529.75
Winchester 3.25 16.95 622.62 2.71 14.43 530.12
North Gower 3.35 17.05 626.30 2.73 14.45 530.85
Vankleek Hil3.14 16.84 618.58 2.64 14.36 527.55
Huron FOB 3.34 3.40 3.40 3.46 17.04 625.93 2.67 14.39 528.65
Kent FOB 3.25 16.95 622.62 2.70 14.42 529.75
Lambton FOB 3.25 16.95 622.62 2.80 14.52 533.43
Mdsx FOB 3.32 3.38 3.45 N/A 17.02 625.19 2.83 14.55 534.53
PROCESSORS
Windsor 3.59 17.29 635.12 2.87 14.59 536.00
TRANSFER
Hamilton 3.70 17.40 639.16 3.15 14.87 546.29
Prescott N/A 3.02 14.74 541.51
Port Colborn3.73 17.43 640.26 3.22 14.94 548.86
Toledo El. -0.13 13.57 498.56 -0.44 11.27 414.28
Exchange rate was 1.2646 down 0.0084
Chicago wheat closed slightly to moderately lower.
MAR21 HI 6.76 JUL21 HI 6.61 1/4
LOW 6.56 1/2 LOW 6.44
CLOSE 6.67 3/4 Down 4 1/2 CLOSE 6.50 1/2 Down 7 3/4
Minni wheat closed moderately lower.
MAR21 HI 6.46 3/4 SEP21 HI 6.60
LOW 6.31 3/4 LOW 6.46 1/2
CLOSE 6.37 1/2 Down 6 CLOSE 6.52 1/4 Down 6 3/4
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 1.38 1.32 1.26 N/A 1.29 1.29 1.04 N/A
Hensall 1.35 N/A 1.30 N/A 1.35 N/A 1.05 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 1.35 N/A 1.30 N/A 1.35 N/A 1.05 N/A
Port Hope N/A N/A N/A N/A N/A N/A 1.10 N/A
Kent Bridge 1.35 N/A 1.30 N/A 1.35 N/A 1.05 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 1.19 1.26 N/A N/A 1.27 1.08 N/A
Varna 1.30 1.35 1.30 N/A 1.25 1.25 1.05 N/A
Mitchell 1.35 1.45 1.30 N/A 1.35 1.30 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 1.12 1.12 0.75 N/A 1.20 1.20 0.75
W O Feed 2.00
TERMINAL
Port Colbor N/A N/A 1.77 N/A N/A N/A 1.43 N/A
PROCESSORS
Toledo FM N/A N/A 1.77 N/A N/A N/A 1.72 N/A
Toledo El. 6.68US 8.44CA 6.46US 8.16CA
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 653.02
DDG's FOB Srn & Aylm 330.00 - 340.00
---
Ontario Grain Market Commentary for January 20, 2021
By Todd Austin, Grain Farmers of Ontario
Wednesday, January 20, 2021
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT Mar 5.22 ↓ 2 ½ Cents
Soybeans CBOT Mar 13.69 ½ ↓ 36 ¾ Cents
Wheat CBOT Mar 6.67 ¾ ↑ 7 ¼ Cent
Wheat Minn. Mar 6.37 ½ ↑ 8 ¾ Cents
Wheat Kansas Mar 6.37 ↑ 11 ¼ Cents
Oats CBOT Mar 3.64 ↑ 2 ¼ Cents
Canadian $ Mar 0.7909 ↑ 24 Points
CORN:
China imported 11.3 million tonnes of corn in 2020. This figure exceeds their annual import quota of 7.2 million tonnes. In 2019, China imported nearly 5 million tonnes of corn. Such an increase in the purchasing of global grains in 2020 is a result of a recovering domestic hog sector coupled with a shortfall in domestic corn supplies.
According to Chinese officials, China will increase corn acreage in 2021. In 2020, China planted 41.3 million hectares (102 million acres) of corn.
SOYBEANS:
Brazilian soybean exports have slowed this month on tight stocks. In the first half of January, Brazil exported 17,500 metric tonnes compared to 630,000 tonnes shipped out in the same period last year. As harvest picks up, Brazilian exports are expected to increase in February.
China imported a record 100.33 million tonnes of soybeans in 2020. Of this total, Brazil shipped 64 million tonnes to China in the same year. 26 million tonnes came from the U.S. This is an increase of 9 million tonnes from the previous year.
WHEAT:
Chicago wheat continues to trade close to highs made in early 2014. The peak in 2014 was $6.93. Russian export tax on wheat shipments and news that the tax will remain past June, is attributed to this current strength in the wheat futures.
Russian exports increased ahead of the implementation of the new export tax. Russia does plan on implementing a higher export tax on wheat in the beginning of March. These taxes have been introduced to offset the rise in domestic food prices.
---
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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