[Farmmarketnews] Wednesday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Mar 10 15:14:50 EST 2021
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, March 10
(All Bases in CAD)
Exchange rate was 1.2629 down 0.0006
Chicago corn closed moderately lower to lower.
MAY21 HI 5.45 3/4 DEC21 HI 4.84 1/4
LOW 5.31 1/4 LOW 4.76 1/4
CLOSE5.34 Down 11 3/4 CLOSE 4.80 1/4 Down 4 1/2
OLD CROP BASIS NEW CROP BASIS
Location Spot 1mt 2mt 3mt U.S. $/bu $/mt Cntrct U.S. $/bu $/mt
ELEVATORS +MAY21+JUL21+JUL21
CK Low 1.40 6.74 265.34 0.90 5.70 224.50
CK High 1.40 6.74 265.34 0.97 5.77 227.25
CK Avg 1.40 0.00 6.74 265.34 0.95 -0.25 5.75 226.27
Essex Cty 1.40 6.74 265.34 0.97 5.77 227.25
Mdsx Low 1.40 6.74 265.34 0.95 5.75 226.47
Mdsx High 1.40 6.74 265.34 0.95 5.75 226.47
Mdsx Avg 1.40 0.00 6.74 265.34 0.95 -0.25 5.75 226.47
Hensall 1.42 6.76 266.00 0.97 5.77 227.12
Bruce 1.40 6.74 265.34 0.95 5.75 226.47
Putnam 1.40 6.74 265.34 0.95 5.75 226.47
Burford 1.40 6.74 265.34 0.95 5.75 226.47
Port Perry 1.45 6.79 267.31 0.95 5.75 226.47
Norfolk 1.40 6.74 265.34 0.97 5.77 227.25
Palmerston 1.35 6.69 263.37 0.95 5.75 226.47
Varna 1.40 6.74 265.34 0.95 5.75 226.47
Trenton 1.45 6.79 267.31 0.95 5.75 226.47
Winchester 1.40 6.74 265.34 1.40 6.20 244.18
North Gower 1.50 6.84 269.28 1.36 6.16 242.61
Vankleek Hil 1.62 6.96 274.00 1.13 5.93 233.55
Huron FOB 1.40 1.49 1.69 1.72 6.74 265.34 0.95 5.75 226.47
Kent FOB 1.57 6.91 272.03 1.07 5.87 231.19
Lamb FOB N/A 1.15 5.95 234.34
Mdsx FOB 1.50 1.50N/A N/A 6.84 269.28 1.00 5.80 228.43
FOB SW Que 2.40 7.74 304.71N/A
Track 1.77 7.11 279.71N/A
PROCESSORS
Chat-Eth N/A N/A N/A N/A 1.31 6.11 240.64
Jhnstwn-Eth N/A N/A N/A N/A 1.56 6.36 250.48
Aylmer-Eth N/A N/A 1.92N/A 1.25 6.05 238.28
Sarn-Eth N/A N/A N/A N/A N/A
London-Ing N/A N/A N/A N/A 1.30 6.10 240.24
Pt.Colb-Ing N/A N/A N/A N/A N/A
Cardnl-Ing N/A N/A N/A N/A 1.55 6.35 250.09
W O Feed 1.96 7.30 287.23
US Rep 2.04 7.38 290.54
Toledo El. 0.00 5.34 210.23 -0.25 4.55 179.12
TRANSFER
Pt. Colb 1.80 7.14 281.09 1.35 6.15 242.21
Prescott 1.99 7.33 288.57 1.57 6.37 250.87
HI SD CRN 1.40 6.74
*Wet Bid
Exchange rate was 1.2629 down 0.0006
Chicago soybeans closed moderately lower to lower.
MAY21 HI 14.45 3/4 NOV21 HI 12.64 1/4
LOW 14.08 1/4 LOW 12.30 3/4
CLOSE14.09 3/4 Down 30 1/4 CLOSE 12.38 3/4 Down 23 1/4
OLD CROP NEW CROP
Location Basis 1mt 2mt 3mt U.S. $/bu $/mt Basis U.S. $/bu $/mt
ELEVATORS +MAY21+MAY21+JUL21
CK Low 3.55 17.65 648.43 2.90 15.29 561.72
CK High 3.65 17.75 652.11 2.95 15.34 563.56
CK Average 3.60 -0.09 17.69 650.15 2.93 -0.26 15.31 562.64
Essex Cty 3.65 17.75 652.11 2.90 15.29 561.72
Mdsx Low 3.55 17.65 648.43 2.88 15.27 560.98
Mdsx High 3.56 17.66 648.80 2.90 15.29 561.72
Mdsx Average3.56 -0.12 17.65 648.62 2.89 -0.29 15.28 561.35
Hensall 3.55 17.65 648.43 2.90 15.29 561.72
Bruce 3.55 17.65 648.43 2.95 15.34 563.56
Putnam 3.55 17.65 648.43 2.90 15.29 561.72
Burford 3.63 17.73 651.37 2.95 15.34 563.56
Port Perry 3.55 17.65 648.43 2.87 15.26 560.62
Norfolk 3.65 17.75 652.11 2.95 15.34 563.56
Palmerston 3.47 17.57 645.50 2.95 15.34 563.56
Varna 3.55 17.65 648.43 2.90 15.29 561.72
Trenton 3.50 17.60 646.60 2.90 15.29 561.72
Winchester 3.53 17.63 647.70 2.87 15.26 560.62
North Gower 3.35 17.45 641.09 2.80 15.19 558.05
Vankleek Hil3.39 17.49 642.56 2.88 15.27 560.98
Huron FOB 3.65 3.80 3.74 3.70 17.75 652.11 2.95 15.34 563.56
Kent FOB 3.80 17.90 657.62 2.95 15.34 563.56
Lambton FOB 3.75 17.85 655.78 3.20 15.59 572.74
Mdsx FOB 3.63 3.63 N/A N/A 17.73 651.37 3.04 15.43 566.86
PROCESSORS
Windsor 4.10 18.20 668.64 3.11 15.50 569.44
TRANSFER
Hamilton 4.15 18.25 670.48 3.40 15.79 580.09
Prescott N/A 3.33 15.72 577.52
Port Colborn3.78 17.88 656.89 3.45 15.84 581.93
Toledo El. 0.00 14.10 517.99 -0.44 11.95 438.92
Exchange rate was 1.2629 down 0.0006
Chicago wheat closed slightly lower.
MAY21 HI 6.56 3/4 JUL21 HI 6.47 1/2
LOW 6.41 1/4 LOW 6.34 1/4
CLOSE 6.52 1/2 Down 4 CLOSE 6.43 1/4 Down 4 3/4
Minni wheat closed slightly to moderately lower.
MAY21 HI 6.46 1/4 SEP21 HI 6.59
LOW 6.35 1/2 LOW 6.49 1/4
CLOSE 6.41 1/4 Down 6 1/4 CLOSE 6.54 1/2 Down 5 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 1.37 1.31 1.31 N/A 1.29 1.22 1.04 N/A
Hensall N/A N/A N/A 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 1.45 1.25 1.30 1.05 1.30
Essex N/A N/A 1.35 N/A N/A N/A 1.05 N/A
Norwich N/A N/A N/A 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 N/A N/A N/A 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 N/A 1.34 1.31 N/A 1.25 1.06 1.28
Varna 1.35 1.40 1.35 N/A 1.25 1.25 1.05 N/A
Mitchell N/A N/A N/A N/A 1.30 1.25 1.05 N/A
Thornton 1.37 1.31 1.31 0.98 1.29 1.22 1.04 N/A
North Gower N/A 1.30 1.30 1.00 N/A 1.00 1.00 1.02
W O Feed 2.07
TERMINAL
Port Colbor N/A N/A 1.76 N/A N/A N/A 1.39 N/A
PROCESSORS
Toledo FM N/A N/A 1.72 N/A N/A N/A 1.69 N/A
Toledo El. 6.53US 8.24CA 6.38US 8.06CA
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 597.24
DDG's FOB Srn & Aylm 350.00 - 360.00
---
Ontario Grain Market Commentary for March 10, 2021
By Todd Austin, Grain Farmers of Ontario
Wednesday, March 10, 2021
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT Mar 5.34 ↓ 1 ¼ Cents
Soybeans CBOT Mar 14.09 ¾ ↑ 2 ¼ Cents
Wheat CBOT Mar 6.52 ½ ↓ 3 ¼ Cent
Wheat Minn. Mar 6.41 ¼ ↓ 1 ¾ Cents
Wheat Kansas Mar 6.16 ½ ↓ 9 ½ Cents
Oats CBOT Mar 3.84 ½ ↑ 18 ½ Cents
Canadian $ Mar .7921 ↑ 7 Points
CORN:
The USDA has projected the U.S. corn carryout to be 1.50 billion bushels. This figure is unchanged from the February report but higher than the trade was anticipating. Increased demand this year has resulted in a smaller carryout than that of the past few years.
Global corn carryout was estimated to be 287.7 million metric tonnes (mmt) which was up 1.14 mmt from the February report.
SOYBEANS:
The USDA has kept the estimate of soybean carryout at 120 million bushels. The trade was expecting a carryout closer to 117 million bushels. If the USDA’s figure is realized at the end of the crop year, it will be the tightest since 2014.
Brazilian soybean harvest is 34% complete versus 52% last year. Continued wet weather in parts of Brazil could affect soybean quality, although these quality concerns will not be fully known until the crop has been harvested.
WHEAT:
According to the March USDA report, global wheat stocks decreased, despite a 3.5 mmt increase in global production. Of note was the USDA’s estimate of Chinese wheat imports for the 20/21 crop year. Figures are indicating that China may import 10.5 million tonnes of wheat, nearly double the volume of imports from the previous year.
---
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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