<HTML><HEAD>
<META content="text/html; charset=utf-8" http-equiv=Content-Type>
<META name=GENERATOR content="MSHTML 8.00.6001.18999"></HEAD>
<BODY style="MARGIN: 4px 4px 1px; FONT: 10pt Tahoma">
<DIV><SPAN class=text>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Tue, December 28<BR>(All Bases in CAD)<BR>Bank of Canada Noon exchange rate was 1.0064 up 0.0000<BR>Chicago corn closed slightly to moderately higher.</SPAN></DIV>
<DIV> </DIV>
<DIV><SPAN class=text> MAR11 HI 6.24 1/4 DEC11 HI 5.58 1/2<BR> LOW 6.12 1/2 LOW 5.51 1/4<BR> CLOSE6.23 1/4 Up 8 CLOSE 5.57 1/4 Up 4</SPAN></DIV>
<DIV> </DIV>
<DIV><SPAN class=text> OLD CROP BASIS NEW CROP BASIS<BR>Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt<BR>ELEVATORS +MAR11+MAR11+MAY11<BR>CK Low -0.75 5.48 215.84 -0.70 4.87 191.82<BR>CK High -0.70 5.53 217.80 -0.70 4.87 191.82<BR>CK Avg -0.73 -0.74 5.50 216.49 -0.70 -0.72 4.87 191.82<BR>Essex Cty -0.75 5.48 215.84 -0.70 4.87 191.82<BR>Mdsx Low -0.75 5.48 215.84 -0.70 4.87 191.82<BR>Mdsx High -0.70 5.53 217.80 -0.70 4.87 191.82<BR>Mdsx Avg -0.73 -0.74 5.50 216.49 -0.70 -0.72 4.87 191.82<BR>Hensall -0.75 5.48 215.84 -0.70 4.87 191.82<BR>Bruce -0.75 5.48 215.84 -0.70 4.87 191.82<BR>Putnam -0.75 5.48 215.84 -0.70 4.87 191.82<BR>Princeton -0.75 5.48 215.84 -0.70 4.87 191.82<BR>Durham -0.85 5.38 211.90 -0.80 4.77 187.89<BR>Norfolk -0.75 5.48 215.84 -0.70 4.87 191.82<BR>Trenton N/A N/A<BR>Winchester N/A N/A<BR>North Gower N/A N/A<BR>Huron FOB -0.75 5.48 215.84 -0.70 4.87 191.82<BR>Kent FOB -0.75 5.48 215.84 -0.70 4.87 191.82<BR>Lamb FOB -0.75 5.48 215.84 -0.70 4.87 191.82<BR>Mdsx FOB -0.75 -0.70 -0.65 -0.70 5.48 215.84 -0.70 4.87 191.82<BR>FOB SW Que N/A N/A<BR>Track -0.25 5.98 235.52N/A<BR>PROCESSORS<BR>Chat-Eth N/A N/A N/A N/A -0.60 4.97 195.76<BR>Jhnstwn-Eth N/A N/A N/A N/A -0.50 5.07 199.70<BR>Aylmer-Eth N/A -0.60 -0.60 -0.65 N/A<BR>Sarn-Eth N/A -0.70 -0.45 -0.50 N/A<BR>Cllngwd-Eth N/A N/A N/A N/A N/A<BR>London-Cas N/A -0.65 -0.65 -0.65 -0.45 5.12 201.66<BR>Pt.Colb-Cas N/A N/A N/A -0.30 -0.35 5.22 205.60<BR>Cardnl-Cas N/A N/A N/A N/A -0.35 5.22 205.60<BR>W O Feed -0.34 -0.35 5.89 231.98</SPAN></DIV>
<DIV> </DIV>
<DIV><SPAN class=text>US Rep 0.20 0.19 6.43 253.24<BR>Toledo El. -0.12 6.11 240.63 -0.47 5.10 200.82</SPAN></DIV>
<DIV> </DIV>
<DIV><SPAN class=text>TRANSFER<BR>Sarnia -0.75 5.48 215.84 -0.70 4.87 191.82<BR>Pt. Stanley N/A N/A<BR>Hamilton N/A N/A</SPAN></DIV>
<DIV> </DIV>
<DIV><SPAN class=text>MID SD CRN -0.72 1/2 5.50 3/4<BR>HI SD CRN -0.70 5.53 1/4</SPAN></DIV>
<DIV> </DIV><SPAN class=text>
<DIV><BR>Bank of Canada Noon exchange rate was 1.0064 up 0.0000<BR>Chicago soybeans closed mixed.</DIV>
<DIV> </DIV>
<DIV> JAN11 HI 13.85 1/4 NOV11 HI 12.95<BR> LOW 13.72 LOW 12.77 1/4<BR> CLOSE13.75 3/4 Up 2 3/4 CLOSE 12.78 3/4 Down 6</DIV>
<DIV> </DIV>
<DIV> OLD CROP NEW CROP<BR>Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt<BR>ELEVATORS +JAN1+JAN1+MAR11<BR>CK Low -0.90 12.86 472.43-1.10 11.69 429.44<BR>CK High -0.63 13.13 482.35-0.80 11.99 440.47<BR>CK Average -0.78 -0.8012.98 476.99-0.95-0.9911.84 434.95<BR>Essex Cty -0.55 13.21 485.29-0.79 12.00 440.83<BR>Mdsx Low -0.89 12.87 472.80-1.14 11.65 427.97<BR>Mdsx High -0.58 13.18 484.19-0.85 11.94 438.63<BR>Mdsx Average -0.76 -0.7813.00 477.70-1.00-1.0411.79 433.24<BR>Hensall -0.70 13.06 479.78-0.93 11.86 435.87<BR>Bruce -0.65 13.11 481.62-0.85 11.94 438.63<BR>Putnam -0.80 12.96 476.11-1.00 11.79 433.12<BR>Princeton -0.53 13.23 486.03-0.87 11.92 437.89<BR>Durham -0.91 12.85 472.06-1.16 11.63 427.24<BR>Norfolk -0.79 12.97 476.47-0.89 11.90 437.16<BR>Trenton N/A N/A<BR>Winchester N/A N/A<BR>North Gower N/A N/A<BR>Huron FOB -0.50 13.26 487.13-0.80 11.99 440.47<BR>Kent FOB -0.84 12.92 474.64-0.95 11.84 434.95<BR>Lambton FOB -0.84 12.92 474.64-0.95 11.84 434.95<BR>Middlesex FOB-0.72-0.67-0.67-0.64 13.04 479.05-0.97 11.82 434.22</DIV>
<DIV> </DIV>
<DIV>PROCESSORS<BR>Hamilton N/A N/A N/A N/A N/A<BR>Windsor -0.37-0.37-0.49-0.46 13.39 491.91-0.70 12.09 444.14<BR>Winchester N/A N/A</DIV>
<DIV> </DIV>
<DIV>TRANSFER<BR>Hamilton N/A N/A N/A N/A N/A<BR>Pt. Stanley N/A N/A<BR>Sarnia -0.22 13.54 497.42-0.48 12.31 452.22<BR>Owen Sound N/A N/A<BR>Sorel QC N/A N/A</DIV>
<DIV> </DIV>
<DIV>Toledo El. -0.18 13.58 498.88-0.53 12.26 450.33</DIV>
<DIV> </DIV>
<DIV><BR>Bank of Canada Noon exchange rate was 1.0064 up 0.0000<BR>Chicago wheat closed moderately higher.<BR>MAR11 HI 8.02 JUL11 HI 8.37<BR> LOW 7.79 1/2 LOW 8.18 1/2<BR> CLOSE 7.98 1/4 Up 18 CLOSE 8.35 1/4 Up 16 1/2</DIV>
<DIV> </DIV>
<DIV>Minni wheat closed moderately higher.<BR>MAR11 HI 8.86 1/2 SEP11 HI 8.85 1/4<BR> LOW 8.66 LOW 8.69<BR> CLOSE 8.84 1/4 Up 18 CLOSE 8.84 3/4 Up 16</DIV>
<DIV> </DIV>
<DIV>GFO Cash Wheat Prices - DEL Terminal<BR>Current Crop 10 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)<BR>Basis -0.74 -0.19 -0.59 -0.79<BR>CAD $/bu 7.24 7.79 7.39 8.05<BR>CAD $/tonne 266.12 286.36 271.64 295.93</DIV>
<DIV> </DIV>
<DIV><BR>Direct MarkHarvest 2010 Harvest 2011<BR> DELIVERED BASIS DELIVERED BASIS<BR>Location SWW(C) HRW(C) SRW(C) HRS(M) SWW(C) HRW(C) SRW(C) HRS(M)<BR>ELEVATORS<BR>Brgssvll N/A -0.70 -1.00 N/A N/A -1.00 -1.80 N/A<BR>London -0.90 -0.80 -1.05 N/A -1.10 -1.10 -1.95 N/A<BR>Hensall -0.70 N/A -0.90 N/A -0.90 N/A -1.75 N/A<BR>Trenton N/A N/A N/A N/A N/A N/A N/A N/A<BR>Winchester N/A N/A N/A N/A N/A N/A N/A N/A<BR>Essex N/A N/A -1.04 N/A N/A N/A -1.95 N/A<BR>Norwich -0.70 N/A -0.90 N/A -0.90 N/A -1.80 N/A<BR>Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A<BR>Kent Bridge -0.70 N/A -0.90 N/A -0.90 N/A -1.80 N/A<BR>Chatham N/A -0.70 -1.00 N/A N/A -1.00 -1.95 N/A<BR>Brigden N/A -0.70 -1.00 N/A N/A -1.00 -1.95 N/A<BR>Palmerston N/A -0.49 -0.99 -0.65 N/A -0.99 -1.79 -0.85<BR>Mitchell -0.70 -0.65 -0.90 N/A -0.90 -0.90 -1.80 N/A<BR>Thornton N/A N/A N/A -0.91 N/A N/A N/A -1.49<BR>North Gower N/A N/A N/A N/A N/A N/A N/A N/A</DIV>
<DIV> </DIV>
<DIV>TERMINAL<BR>Sarnia -0.53 -0.12 -0.53 N/A -0.81 -0.50 -1.48 N/A<BR>Hamilton N/A N/A N/A N/A N/A N/A N/A N/A<BR>Pt. Stanley N/A N/A N/A N/A N/A N/A N/A N/A</DIV>
<DIV> </DIV>
<DIV>PROCESSORS<BR>Toledo FM N/A 0.61 -0.29 N/A 0.28 0.03 -0.68 N/A</DIV>
<DIV> </DIV>
<DIV>Toledo El. 7.55US 7.56CA 7.52US 7.55CA</DIV>
<DIV> </DIV>
<DIV>GFO Contract Wheat Prices - DEL Terminal<BR>Harvest 11 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)<BR>Basis -1.08 -0.73 -1.53 -1.03<BR>CAD $/bu 7.28 7.63 6.82 7.82<BR>CAD $/tonne 267.31 280.21 250.73 287.40</DIV>
<DIV> </DIV>
<DIV>(C)-Basis over the Chicago Board of Trade futures<BR>(M)-Basis over the Minneapolis Grain Exchange</DIV>
<DIV> </DIV>
<DIV>FEED GRAINS<BR>Bayport Wheat 275.00<BR>Bayport Oats 320.00<BR>Bayport Barley 260.00<BR>FOB Hm Soymeal 419.55<BR>DDG's FOB Srn, Wndr, Aylm 165.00 - 200.00<BR></DIV>
<DIV> </DIV>
<DIV> </DIV>
<DIV>
<DIV>John Jordan<BR>Editor, AgriLink and Farm Market News<BR>University of Guelph, Ridgetown Campus<BR>Tel. 519-674-1500 x 63577</DIV>
<DIV>Fax. 519-674-1530<BR>E-mail: jjordan@ridgetownc.uoguelph.ca<BR>AgriLink website : www.ridgetownc.com/agrilink </DIV></SPAN></DIV></BODY></HTML>