[Farmmarketnews] Wednesday Ontario Commodity Report and Weekly GFO Grain Market Commentary
Farm Market News - Ontario Commodity Report
farmmarketnews at lists.sentex.ca
Wed Mar 24 15:16:44 EDT 2021
FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, March 24
(All Bases in CAD)
Exchange rate was 1.256 down 0.0002
Chicago corn closed mixed.
MAY21 HI 5.53 3/4 DEC21 HI 4.70 1/2
LOW 5.48 1/4 LOW 4.66 1/2
CLOSE5.53 1/4 Up 2 CLOSE 4.69 Down 3/4
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 6.93 272.92 0.90 5.59 220.07
CK High 1.40 6.93 272.92 0.95 5.64 222.04
CK Avg 1.40 -0.01 6.93 272.92 0.91 -0.23 5.60 220.40
Essex Cty 1.40 6.93 272.92 0.90 5.59 220.07
Mdsx Low 1.40 6.93 272.92 0.90 5.59 220.07
Mdsx High 1.40 6.93 272.92 0.90 5.59 220.07
Mdsx Avg 1.40 -0.01 6.93 272.92 0.90 -0.24 5.59 220.07
Hensall 1.42 6.95 273.58 0.93 5.62 221.38
Bruce 1.40 6.93 272.92 0.90 5.59 220.07
Putnam 1.40 6.93 272.92 0.90 5.59 220.07
Burford 1.40 6.93 272.92 0.90 5.59 220.07
Port Perry 1.45 6.98 274.89 0.90 5.59 220.07
Norfolk 1.40 6.93 272.92 0.90 5.59 220.07
Palmerston 1.47 7.00 275.68 0.94 5.63 221.64
Varna 1.40 6.93 272.92 0.90 5.59 220.07
Trenton 1.45 6.98 274.89 0.90 5.59 220.07
Winchester 1.40 6.93 272.92 1.40 6.09 239.75
North Gower 1.42 6.95 273.71 1.35 6.04 237.78
Vankleek Hil 1.51 7.04 277.25 0.93 5.62 221.25
Huron FOB 1.45 1.52 1.82 1.86 6.98 274.89 0.90 5.59 220.07
Kent FOB 1.52 7.05 277.64 1.02 5.71 224.79
Lamb FOB N/A 1.05 5.74 225.97
Mdsx FOB 1.50 1.60N/A N/A 7.03 276.86 1.05 5.74 225.97
FOB SW Que 2.51 8.04 316.62N/A
Track 1.75 7.28 286.50N/A
PROCESSORS
Chat-Eth N/A N/A N/A N/A 1.25 5.94 233.85
Jhnstwn-Eth N/A N/A N/A N/A N/A
Aylmer-Eth N/A N/A 1.95N/A 1.25 5.94 233.85
Sarn-Eth N/A N/A N/A N/A N/A
London-Ing N/A N/A N/A N/A 1.30 5.99 235.82
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 6.24 245.66
W O Feed 1.96 7.49 294.81
US Rep 2.04 7.57 298.12
Toledo El. 0.00 5.53 217.80 -0.25 4.44 174.75
TRANSFER
Pt. Colb 1.80 7.33 288.67 1.35 6.04 237.78
Prescott 1.98 7.51 295.75 1.53 6.22 244.87
HI SD CRN 1.40 6.93 1/4
*Wet Bid
Exchange rate was 1.256 down 0.0002
Chicago soybeans closed slightly higher.
MAY21 HI 14.33 1/2 NOV21 HI 12.33 3/4
LOW 14.18 1/4 LOW 12.20
CLOSE14.32 3/4 Up 9 1/2 CLOSE 12.28 1/4 Up 4 3/4
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 17.88 656.89 2.80 15.08 554.19
CK High 3.60 17.93 658.72 2.83 15.11 555.29
CK Average 3.58 -0.07 17.90 657.80 2.81 -0.27 15.09 554.37
Essex Cty 3.55 17.88 656.89 2.75 15.03 552.35
Mdsx Low 3.58 17.91 657.99 2.80 15.08 554.19
Mdsx High 3.60 17.93 658.72 2.81 15.09 554.55
Mdsx Average3.59 -0.06 17.92 658.36 2.81 -0.27 15.09 554.37
Hensall 3.60 17.93 658.72 2.80 15.08 554.19
Bruce 3.60 17.93 658.72 2.80 15.08 554.19
Putnam 3.60 17.93 658.72 2.80 15.08 554.19
Burford 3.65 17.98 660.56 2.88 15.16 557.13
Port Perry 3.57 17.90 657.62 2.80 15.08 554.19
Norfolk 3.55 17.88 656.89 2.80 15.08 554.19
Palmerston 3.53 17.86 656.15 2.82 15.10 554.92
Varna 3.60 17.93 658.72 2.80 15.08 554.19
Trenton 3.60 17.93 658.72 2.80 15.08 554.19
Winchester 3.31 17.64 648.07 2.65 14.93 548.68
North Gower 3.15 17.48 642.19 2.60 14.88 546.84
Vankleek Hil3.30 17.63 647.70 2.69 14.97 550.15
Huron FOB 3.70 3.85 3.79 3.82 18.03 662.40 2.85 15.13 556.02
Kent FOB 3.65 17.98 660.56 2.80 15.08 554.19
Lambton FOB 3.65 17.98 660.56 2.95 15.23 559.70
Mdsx FOB 3.77 3.77 N/A N/A 18.10 664.97 3.03 15.31 562.64
PROCESSORS
Windsor 3.96 18.29 671.95 2.99 15.27 561.17
TRANSFER
Hamilton 4.05 18.38 675.26 3.25 15.53 570.72
Prescott N/A 3.09 15.37 564.84
Port Colborn3.74 18.07 663.87 3.35 15.63 574.40
Toledo El. 0.19 14.52 533.37 -0.44 11.84 435.15
Exchange rate was 1.256 down 0.0002
Chicago wheat closed slightly to moderately lower.
MAY21 HI 6.38 3/4 JUL21 HI 6.30
LOW 6.24 LOW 6.17 1/2
CLOSE 6.24 3/4 Down 10 CLOSE 6.18 3/4 Down 7 1/2
Minni wheat closed slightly lower.
MAY21 HI 6.31 SEP21 HI 6.46
LOW 6.22 LOW 6.39
CLOSE 6.27 Down 3 1/4 CLOSE 6.42 3/4 Down 3 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 1.25 N/A N/A N/A 0.95 N/A
London 1.30 1.30 1.30 N/A 1.21 1.21 1.02 N/A
Hensall N/A N/A N/A N/A 1.20 N/A 0.95 N/A
Trenton N/A N/A N/A N/A N/A N/A 0.95 N/A
Bruce 1.25 1.25 1.25 1.45 1.20 1.15 1.00 1.30
Essex N/A N/A 1.25 N/A N/A N/A 0.95 N/A
Norwich N/A N/A N/A N/A 1.20 N/A 0.95 N/A
Port Hope N/A N/A N/A N/A N/A N/A 0.95 N/A
Kent Bridge N/A N/A N/A N/A 1.20 N/A 0.95 N/A
Chatham N/A N/A 1.25 N/A N/A N/A 0.95 N/A
Brigden N/A N/A 1.25 N/A N/A N/A 0.95 N/A
Palmerston N/A N/A 1.22 1.22 N/A 1.14 0.95 1.20
Varna 1.30 1.35 1.30 N/A 1.15 1.15 0.95 N/A
Mitchell N/A N/A N/A N/A 1.20 1.15 0.95 N/A
Thornton 1.30 1.30 1.30 0.77 1.21 1.21 1.02 N/A
North Gower N/A 1.20 1.20 0.85 N/A 0.92 0.92 0.90
W O Feed 1.98
TERMINAL
Port Colbor N/A N/A 1.75 N/A N/A N/A 1.35 N/A
PROCESSORS
Toledo FM N/A N/A 1.60 N/A N/A N/A 1.58 N/A
Toledo El. 6.25US 7.85CA 6.14US 7.71CA
(C)-Basis over the Chicago Board of Trade futures
(M)-Basis over the Minneapolis Grain Exchange
FEED GRAINS
FOB Hm Soymeal 579.83
DDG's FOB Srn & Aylm 310.00 - 340.00
---
Ontario Grain Market Commentary for March 24, 2021
By Todd Austin, Grain Farmers of Ontario
Wednesday, March 24, 2021
COMMODITY PERIOD PRICE WEEKLY MOVEMENT
Corn CBOT May 5.53 ¼ ↓ 4 ¾ Cents
Soybeans CBOT May 14.32 ¾ ↑ 15 Cents
Wheat CBOT May 6.24 ¾ ↓ 15 ¼ Cent
Wheat Minn. May 6.27 ↓ 6 ¼ Cents
Wheat Kansas May 5.76 ¼ ↓ 24 ¾ Cents
Oats CBOT May 3.81 ½ ↑ 10 Cents
Canadian $ May .7962 ↓ 95 Points
CORN:
The Brazilian Safrinha corn is 90% planted as recent drier weather allowed for an increased planting pace. Planting increased 16% from the previous week. As mentioned in previous reports, much of the Safrinha crop has been planted past the ideal planting window. Strong local corn prices signify more promising returns to Brazilian farmers, despite potentially smaller yields.
South Africa is anticipating a record corn crop. The 2020 -2021 marketing year corn is forecast to be 16.45 million tonnes. Exports are expected to increase 40% to 3.5 million tonnes.
SOYBEANS:
Brazilian soybeans are 59% harvested, versus 72% last year. As Brazil struggles to harvest crops, China continues to buy U.S. soybeans. This increased demand for U.S. soybeans is putting pressure on an already tight U.S. supply which has led to soybean futures hitting levels that we have not seen since 2014.
Chinese imports for January and February of this year are actually down slightly from this time last year. This year China imported 13.41 million tonnes, while 13.51 million tonnes were imported last year during the same period.
WHEAT:
Recent storms have brought much needed moisture to the U.S. southern Plains which have led to improved winter wheat conditions in many winter wheat states. The USDA raised the good-to-excellent rating for Kansas to 45% up from 38% a week ago. 21% of the Kansas crop is poor-to-very poor.
The Ukrainian state weather centre data indicated that 98% of the winter wheat is in good condition. Favourable weather could result in a wheat crop of 75 million tonnes this year, up from 66 million tonnes last year. Exports could reach 53 million tonnes in the 2021-2022 season.
---
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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