[Farmmarketnews] Wednesday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Jan 27 15:29:14 EST 2021
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, January 27
(All Bases in CAD)
Exchange rate was 1.278 up 0.0086
Chicago corn closed narrowly mixed.
MAR21 HI 5.43 3/4 DEC21 HI 4.51 1/2
LOW 5.29 1/2 LOW 4.41 1/2
CLOSE5.34 Up 1 3/4 CLOSE 4.42 1/2 Down 2
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 6.74 265.34 0.90 5.33 209.64
CK High 1.40 6.74 265.34 0.95 5.38 211.60
CK Avg 1.40 -0.07 6.74 265.34 0.91 -0.25 5.33 209.96
Essex Cty 1.40 6.74 265.34 0.90 5.33 209.64
Mdsx Low 1.40 6.74 265.34 0.90 5.33 209.64
Mdsx High 1.40 6.74 265.34 0.90 5.33 209.64
Mdsx Avg 1.40 -0.07 6.74 265.34 0.90 -0.26 5.33 209.64
Hensall 1.42 6.76 266.00 0.92 5.34 210.29
Bruce 1.40 6.74 265.34 0.95 5.38 211.60
Putnam 1.40 6.74 265.34 0.90 5.33 209.64
Burford 1.40 6.74 265.34 0.90 5.33 209.64
Port Perry 1.45 6.79 267.31 1.00 5.43 213.57
Norfolk 1.40 6.74 265.34 0.90 5.33 209.64
Palmerston 1.41 6.75 265.74 0.97 5.40 212.39
Varna 1.40 6.74 265.34 0.90 5.33 209.64
Trenton 1.40 6.74 265.34 1.00 5.43 213.57
Winchester 1.45 6.79 267.31 1.25 5.68 223.41
North Gower 1.49 6.83 268.89 1.26 5.69 223.81
Vankleek Hil 1.64 6.98 274.79 1.06 5.49 215.93
Huron FOB 1.58 1.66 1.69 1.70 6.92 272.43 0.96 5.39 212.00
Kent FOB 1.60 6.94 273.22 1.00 5.43 213.57
Lamb FOB N/A 1.00 5.43 213.57
Mdsx FOB N/A N/A N/A N/A 1.05 5.48 215.54
FOB SW Que 2.39 7.73 304.32N/A
Track 1.86 7.20 283.25N/A
PROCESSORS
Chat-Eth N/A N/A N/A N/A 1.16 5.59 219.87
Jhnstwn-Eth N/A N/A N/A N/A 1.48 5.91 232.47
Aylmer-Eth N/A N/A N/A N/A 1.20 5.63 221.45
Sarn-Eth N/A N/A N/A N/A N/A
London-Ing N/A N/A N/A N/A 1.30 5.73 225.38
Pt.Colb-Ing N/A N/A N/A N/A N/A
Cardnl-Ing N/A N/A N/A N/A 1.45 5.88 231.29
W O Feed 2.02 7.36 289.67
US Rep 2.11 7.45 293.29
Toledo El. -0.13 5.21 205.20 -0.26 4.17 164.14
TRANSFER
Pt. Colb 1.90 7.24 285.03 1.20 5.63 221.45
Prescott N/A 1.49 5.92 232.86
HI SD CRN 1.40 6.74
*Wet Bid
Exchange rate was 1.278 up 0.0086
Chicago soybeans closed mixed.
MAR21 HI 13.94 3/4 NOV21 HI 11.64 1/4
LOW 13.64 1/2 LOW 11.41 1/4
CLOSE13.74 3/4 Up 4 1/2 CLOSE 11.49 1/4 Up 3/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt Basis U.S. $/bu $/mt
ELEVATORS +MAR21+MAR21+MAY21
CK Low 3.20 16.95 622.71 2.60 14.09 517.81
CK High 3.32 17.07 627.12 2.75 14.24 523.32
CK Average 3.25 -0.44 17.00 624.67 2.66 -0.42 14.16 520.14
Essex Cty 3.30 17.05 626.39 2.70 14.19 521.49
Mdsx Low 3.20 16.95 622.71 2.60 14.09 517.81
Mdsx High 3.30 17.05 626.39 2.66 14.15 520.02
Mdsx Average3.25 -0.45 17.00 624.55 2.63 -0.44 14.12 518.91
Hensall 3.23 16.98 623.94 2.60 14.09 517.81
Bruce 3.20 16.95 622.71 2.60 14.09 517.81
Putnam 3.20 16.95 622.71 2.60 14.09 517.81
Burford 3.37 17.12 628.96 2.73 14.22 522.59
Port Perry 3.29 17.04 626.02 2.65 14.14 519.65
Norfolk 3.30 17.05 626.39 2.75 14.24 523.32
Palmerston 3.35 17.10 628.23 2.67 14.16 520.38
Varna 3.15 16.90 620.88 2.55 14.04 515.97
Trenton 3.20 16.95 622.71 2.60 14.09 517.81
Winchester 3.19 16.94 622.35 2.60 14.09 517.81
North Gower 3.35 17.10 628.23 2.73 14.22 522.59
Vankleek Hil3.30 17.05 626.39 2.69 14.18 521.12
Huron FOB 3.60 3.67 3.67 3.73 17.35 637.41 2.80 14.29 525.16
Kent FOB 3.30 17.05 626.39 2.75 14.24 523.32
Lambton FOB 3.25 17.00 624.55 2.80 14.29 525.16
Mdsx FOB 3.50 3.56 3.56 N/A 17.25 633.74 2.85 14.34 527.00
PROCESSORS
Windsor 3.79 17.54 644.39 2.92 14.41 529.57
TRANSFER
Hamilton 3.75 17.50 642.92 3.25 14.74 541.69
Prescott N/A 3.07 14.56 535.08
Port Colborn3.91 17.66 648.80 3.26 14.75 542.06
Toledo El. -0.13 13.62 500.44 -0.45 11.05 405.84
Exchange rate was 1.278 up 0.0086
Chicago wheat closed moderately lower.
MAR21 HI 6.72 3/4 JUL21 HI 6.51 1/4
LOW 6.52 1/2 LOW 6.36
CLOSE 6.58 1/4 Down 7 CLOSE 6.40 1/2 Down 7
Minni wheat closed slightly lower.
MAR21 HI 6.43 3/4 SEP21 HI 6.60 3/4
LOW 6.28 1/2 LOW 6.47 3/4
CLOSE 6.32 3/4 Down 5 1/4 CLOSE 6.51 Down 5 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 1.00 N/A
London 1.46 1.40 1.33 N/A 1.34 1.34 1.08 N/A
Hensall 1.40 N/A 1.35 N/A 1.30 N/A 1.00 N/A
Trenton N/A N/A N/A N/A N/A N/A 1.00 N/A
Bruce 1.30 1.40 1.30 1.40 1.25 1.30 1.10 1.30
Essex N/A N/A 1.35 N/A N/A N/A 1.10 N/A
Norwich 1.40 N/A 1.35 N/A 1.30 N/A 1.00 N/A
Port Hope N/A N/A N/A N/A N/A N/A 1.00 N/A
Kent Bridge 1.40 N/A 1.35 N/A 1.30 N/A 1.00 N/A
Chatham N/A N/A 1.35 N/A N/A N/A 1.10 N/A
Brigden N/A N/A 1.35 N/A N/A N/A 1.10 N/A
Palmerston N/A 1.25 1.31 N/A N/A 1.30 1.11 N/A
Varna 1.30 1.35 1.30 N/A 1.20 1.20 1.00 N/A
Mitchell 1.40 1.50 1.35 N/A 1.30 1.25 1.00 N/A
Thornton N/A N/A N/A 1.28 N/A N/A N/A N/A
North Gower N/A 1.12 1.12 0.75 N/A 1.18 1.18 0.75
W O Feed 2.01
TERMINAL
Port Colbor N/A N/A 1.85 N/A N/A N/A 1.47 N/A
PROCESSORS
Toledo FM N/A N/A 1.83 N/A N/A N/A 1.78 N/A
Toledo El. 6.58US 8.41CA 6.36US 8.12CA
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 646.63
DDG's FOB Srn & Aylm 340.00 - 350.00
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Ontario Grain Market Commentary for January 27, 2021
By Todd Austin, Grain Farmers of Ontario
Wednesday, January 27, 2021
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT Mar 5.34 ↑ 12 Cents
Soybeans CBOT Mar 13.69 ½ ↑ 5 ¼ Cents
Wheat CBOT Mar 6.67 ¾ ↓ 9 ½ Cent
Wheat Minn. Mar 6.37 ½ ↓ 4 ¾ Cents
Wheat Kansas Mar 6.37 ↓ ¼ Cents
Oats CBOT Mar 3.64 ↓ 11 ½ Cents
Canadian $ Mar 0.7824 ↓ 85 Points
CORN:
China has been reported to have purchased 1.6 million tonnes of U.S. corn for delivery in this marketing year. It is now the fifth time since 1994 that China has exceeded 1 million tonnes in a single day. In the USDA’s recent weekly Export Sales report, exports and undelivered sales of U.S. corn to China for delivery in the 2020-2021 marketing year total 11.8 million tonnes. China has also been reported to have purchased 200 million gallons of U.S. ethanol for shipment in the first half of this year. Futures markets have responded to this recent news by posting a 2-week high.
SOYBEANS:
Brazilian soybean harvest sits at 1 per cent complete as of last week compared to over 4 per cent last year. Recent rains have delayed early bean harvest. However, later maturing beans should benefit from this moisture. The slow harvest pace in Brazil has supported soybean futures values.
U.S. crush plants have been booking soybean purchases well beyond their normal supply due to rising export demand and rising prices. There are fears of soybean shortages later this marketing year. Some crush plants have booked their soybean needs for the next 60 days rather than just their usual 30 to 40 days. U.S. soybean supplies are forecast to reach a seven -year low by the end of the marketing year, even with a large harvested crop, due to record U.S. crush and exports this year.
WHEAT:
Argentina is working to ensure ample domestic wheat supplies. They are the 7th largest wheat exporting country, with the majority of exports going to neighbouring Brazil. Of the 17.2 million tonnes of wheat harvested this year, 10 million tonnes will likely be exported. To date, official data indicated that exporters have purchased 8.9 million tonnes. Argentina may limit exports in an effort to slow increases in domestic food prices.
Australia is expected to harvest 31 million tonnes of wheat this year. This figure is more than twice the amount harvested last year as drought limited production to an estimated 15 million. A grain handler in the New South Wales region is reported to have deliveries of 8.4 million tonnes so far this year compared to 500,000 tonnes last year at this time.
---
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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