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<DIV>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Fri, December 31<BR>(All Bases in CAD)<BR>Bank of Canada Noon exchange rate was 0.9946 down 0.0063<BR>Chicago corn closed higher.</DIV>
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<DIV> MAR11 HI 6.30 DEC11 HI 5.62<BR> LOW 6.15 3/4 LOW 5.50<BR> CLOSE6.29 Up 13 CLOSE 5.62 Up 10 3/4</DIV>
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<DIV> 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 5.54 218.10 -0.70 4.92 193.69<BR>CK High -0.75 5.54 218.10 -0.70 4.92 193.69<BR>CK Avg -0.75 -0.72 5.54 218.10 -0.70 -0.69 4.92 193.69<BR>Essex Cty -0.75 5.54 218.10 -0.70 4.92 193.69<BR>Mdsx Low -0.75 5.54 218.10 -0.70 4.92 193.69<BR>Mdsx High -0.75 5.54 218.10 -0.70 4.92 193.69<BR>Mdsx Avg -0.75 -0.72 5.54 218.10 -0.70 -0.69 4.92 193.69<BR>Hensall -0.75 5.54 218.10 -0.70 4.92 193.69<BR>Bruce -0.75 5.54 218.10 -0.70 4.92 193.69<BR>Putnam -0.75 5.54 218.10 -0.70 4.92 193.69<BR>Princeton -0.75 5.54 218.10 -0.70 4.92 193.69<BR>Durham -0.85 5.44 214.16 -0.80 4.82 189.76<BR>Norfolk -0.75 5.54 218.10 -0.70 4.92 193.69<BR>Trenton -0.80 5.49 216.13 -0.80 4.82 189.76<BR>Winchester -0.70 5.59 220.07 -0.65 4.97 195.66<BR>North Gower N/A N/A<BR>Huron FOB -0.75 5.54 218.10 -0.70 4.92 193.69<BR>Kent FOB -0.75 5.54 218.10 -0.70 4.92 193.69<BR>Lamb FOB -0.75 5.54 218.10 -0.70 4.92 193.69<BR>Mdsx FOB -0.75 -0.75 -0.70 -0.70 5.54 218.10 -0.70 4.92 193.69<BR>FOB SW Que -0.70 5.59 220.07 -0.50 5.12 201.57<BR>Track -0.25 6.04 237.78N/A<BR>PROCESSORS<BR>Chat-Eth N/A N/A N/A N/A -0.65 4.97 195.66<BR>Jhnstwn-Eth N/A N/A N/A N/A -0.50 5.12 201.57<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 -0.70 4.92 193.69<BR>London-Cas N/A -0.70 -0.70 -0.70 -0.50 5.12 201.57<BR>Pt.Colb-Cas N/A N/A N/A -0.40 -0.40 5.22 205.50<BR>Cardnl-Cas N/A N/A N/A N/A -0.40 5.22 205.50<BR>W O Feed -0.34 -0.33 5.95 234.24</DIV>
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<DIV>US Rep 0.20 0.21 6.49 255.50<BR>Toledo El. -0.12 6.17 242.93 -0.47 5.15 202.78</DIV>
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<DIV>TRANSFER<BR>Sarnia -0.75 5.54 218.10 -0.70 4.92 193.69<BR>Pt. Stanley -0.75 5.54 218.10 -0.67 4.95 194.87<BR>Hamilton -0.50 5.79 227.94 -0.52 5.10200 7/9</DIV>
<DIV> </DIV>
<DIV>MID SD CRN -0.75 5.54<BR>HI SD CRN -0.75 5.54</DIV>
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<DIV><BR>Bank of Canada Noon exchange rate was 0.9946 down 0.0063<BR>Chicago soybeans closed higher.</DIV>
<DIV> </DIV>
<DIV> JAN11 HI 13.94 1/2 NOV11 HI 13.09 3/4<BR> LOW 13.66 1/2 LOW 12.80<BR> CLOSE13.93 3/4 Up 27 3/4 CLOSE 13.08 1/2 Up 24</DIV>
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<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 -0.91 13.03 478.68-1.00 12.09 444.05<BR>CK High -0.80 13.14 482.72-0.97 12.12 445.15<BR>CK Average -0.85 -0.7813.09 480.88-0.99-0.9712.09 444.34<BR>Essex Cty -0.77 13.17 483.82-0.91 12.18 447.35<BR>Mdsx Low -0.90 13.04 479.05-1.01 12.08 443.68<BR>Mdsx High -0.78 13.16 483.46-0.97 12.12 445.15<BR>Mdsx Average -0.84 -0.7713.09 481.13-0.99-0.9712.09 444.29<BR>Hensall -0.85 13.09 480.88-1.00 12.09 444.05<BR>Bruce -0.85 13.09 480.88-0.85 12.24 449.56<BR>Putnam -0.80 13.14 482.72-1.00 12.09 444.05<BR>Princeton -0.86 13.08 480.52-0.95 12.14 445.88<BR>Durham -0.90 13.04 479.05-0.99 12.10 444.42<BR>Norfolk -0.79 13.15 483.09-0.89 12.20 448.09<BR>Trenton -0.70 13.24 486.39-0.95 12.14 445.88<BR>Winchester -0.65 13.29 488.23-0.90 12.19 447.72<BR>North Gower N/A N/A<BR>Huron FOB -0.80 13.14 482.72-0.95 12.14 445.88<BR>Kent FOB -0.84 13.10 481.25-0.95 12.14 445.88<BR>Lambton FOB -0.84 13.10 481.25-0.95 12.14 445.88<BR>Middlesex FOB-0.66-0.66-0.66-0.61 13.28 487.86-0.90 12.19 447.72</DIV>
<DIV> </DIV>
<DIV>PROCESSORS<BR>Hamilton -0.43-0.43-0.38-0.33 13.51 496.32-0.66 12.43 456.54<BR>Windsor -0.37-0.37-0.49-0.46 13.57 498.52-0.70 12.39 455.07<BR>Winchester -0.50 13.44 493.74-0.65 12.44 456.91</DIV>
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<DIV>TRANSFER<BR>Hamilton -0.40 N/A N/A N/A 13.54 497.42-0.60 12.49 458.75<BR>Pt. Stanley -0.85 13.09 480.88-1.05 12.04 442.21<BR>Sarnia -0.48 13.46 494.48-0.67 12.42 456.17<BR>Owen Sound N/A N/A<BR>Sorel QC -0.10 13.84 508.44-0.05 13.04 478.95</DIV>
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<DIV>Toledo El. -0.18 13.76 505.53-0.53 12.56 461.36</DIV>
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<DIV><BR>Bank of Canada Noon exchange rate was 0.9946 down 0.0063<BR>Chicago wheat closed slightly higher.<BR>MAR11 HI 7.96 1/4 JUL11 HI 8.34 1/2<BR> LOW 7.80 1/2 LOW 8.20<BR> CLOSE 7.94 1/4 Up 9 1/2 CLOSE 8.32 Up 8 1/2</DIV>
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<DIV>Minni wheat closed slightly higher.<BR>MAR11 HI 8.87 SEP11 HI 8.83 1/4<BR> LOW 8.69 3/4 LOW 8.72 1/2<BR> CLOSE 8.81 1/2 Up 9 1/2 CLOSE 8.80 Up 8</DIV>
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<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 -0.79 -0.24 -0.64 -0.84<BR>CAD $/bu 7.16 7.70 7.31 7.98<BR>CAD $/tonne 262.96 283.07 268.45 293.04</DIV>
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<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 -1.05 N/A N/A -0.95 -1.85 N/A<BR>London -0.89 -0.79 -1.04 N/A -1.06 -1.06 -1.91 N/A<BR>Hensall -0.70 N/A -0.95 N/A -0.90 N/A -1.75 N/A<BR>Trenton N/A N/A N/A N/A N/A N/A -1.85 N/A<BR>Winchester N/A N/A N/A N/A N/A N/A N/A -1.40<BR>Essex N/A N/A -1.04 N/A N/A N/A -1.95 N/A<BR>Norwich -0.70 N/A -0.95 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 -0.95 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 -0.95 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 -1.44<BR>North Gower N/A N/A N/A N/A N/A N/A N/A N/A</DIV>
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<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 -0.40 N/A N/A N/A -1.30 N/A<BR>Pt. Stanley N/A N/A -0.85 N/A N/A N/A -1.80 N/A</DIV>
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<DIV>PROCESSORS<BR>Toledo FM N/A 0.56 -0.34 N/A 0.23 -0.02 -0.72 N/A</DIV>
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<DIV>Toledo El. 7.51US 7.48CA 7.49US 7.48CA</DIV>
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<DIV>GFO Contract Wheat Prices - DEL Terminal<BR>Harvest 11 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)<BR>Basis -1.11 -0.77 -1.56 -1.07<BR>CAD $/bu 7.21 7.55 6.76 7.73<BR>CAD $/tonne 264.76 277.59 248.26 284.20</DIV>
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<DIV>(C)-Basis over the Chicago Board of Trade futures<BR>(M)-Basis over the Minneapolis Grain Exchange</DIV>
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<DIV>FEED GRAINS<BR>Bayport Wheat 275.00<BR>Bayport Oats 320.00<BR>Bayport Barley 260.00<BR>FOB Hm Soymeal 417.01 - 419.22<BR>DDG's FOB Srn, Wndr, Aylm 175.00 - 200.00<BR></DIV>
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<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></BODY></HTML>