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<DIV>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Fri, January 28<BR>(All Bases in CAD)<BR>Bank of Canada Noon exchange rate was 0.999 up 0.0049<BR>Chicago corn closed moderately lower.</DIV>
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<DIV> MAR11 HI 6.57 3/4 DEC11 HI 5.90<BR> LOW 6.42 1/2 LOW 5.76 1/4<BR> CLOSE6.44 Down 6 3/4 CLOSE 5.76 1/2 Down 6 1/4</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+MAY11+MAY11<BR>CK Low -0.90 5.54 218.10 -0.90 4.87 191.53<BR>CK High -0.85 5.59 220.07 -0.90 4.87 191.53<BR>CK Avg -0.89 -0.89 5.56 218.69 -0.90 -0.92 4.87 191.53<BR>Essex Cty -0.90 5.54 218.10 -0.90 4.87 191.53<BR>Mdsx Low -0.90 5.54 218.10 -0.90 4.87 191.53<BR>Mdsx High -0.90 5.54 218.10 -0.90 4.87 191.53<BR>Mdsx Avg -0.90 -0.90 5.54 218.10 -0.90 -0.92 4.87 191.53<BR>Hensall -0.90 5.54 218.10 -0.90 4.87 191.53<BR>Bruce -0.90 5.54 218.10 -0.90 4.87 191.53<BR>Putnam -0.90 5.54 218.10 -0.90 4.87 191.53<BR>Princeton -0.90 5.54 218.10 -0.90 4.87 191.53<BR>Durham -0.95 5.49 216.13 -0.95 4.82 189.56<BR>Norfolk -0.86 5.58 219.67 -0.90 4.87 191.53<BR>Trenton -0.90 5.54 218.10 -0.95 4.82 189.56<BR>Winchester -0.80 5.64 222.04 -0.75 5.02 197.43<BR>North Gower -0.90 5.54 218.10 -0.90 4.87 191.53<BR>Huron FOB -0.90 5.54 218.10 -0.88 4.89 192.31<BR>Kent FOB -0.86 5.58 219.67 -0.90 4.87 191.53<BR>Lamb FOB -0.86 5.58 219.67 -0.90 4.87 191.53<BR>Mdsx FOB -0.90 -0.85 -0.85 -0.80 5.54 218.10 -0.90 4.87 191.53<BR>FOB SW Que -0.85 5.59 220.07 -0.65 5.12 201.37<BR>Track -0.53 5.92 232.86N/A<BR>PROCESSORS<BR>Chat-Eth N/A N/A N/A N/A -0.75 5.02 197.43<BR>Jhnstwn-Eth N/A N/A N/A N/A -0.75 5.02 197.43<BR>Aylmer-Eth N/A N/A -0.85 -0.75 N/A<BR>Sarn-Eth N/A -0.60 -0.70 -0.55 N/A<BR>Cllngwd-Eth -0.70N/A N/A N/A 5.74 225.97-0.80* 4.97 195.46<BR>Kwrth-Eth N/A -0.75N/A N/A N/A<BR>London-Cas N/A N/A N/A -0.65 -0.50 5.27 207.27<BR>Pt.Colb-Cas N/A N/A N/A N/A -0.45 5.32 209.24<BR>Cardnl-Cas N/A N/A N/A N/A -0.45 5.32 209.24<BR>W O Feed -0.50 -0.50 5.94 233.85</DIV>
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<DIV>US Rep 0.05 0.05 6.49 255.50<BR>Toledo El. -0.14 6.30 248.02 -0.47 5.29 208.40</DIV>
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<DIV>TRANSFER<BR>Sarnia -0.90 5.54 218.10 -0.90 4.87 191.53<BR>Pt. Stanley -0.95 5.49 216.13 -0.95 4.82189 5/9<BR>Hamilton -0.90 5.54 218.10 -0.80 4.97195 1/2</DIV>
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<DIV>MID SD CRN -0.87 1/2 5.56 1/2<BR>HI SD CRN -0.85 5.59<BR>*Wet Bid</DIV>
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<DIV><BR>Bank of Canada Noon exchange rate was 0.999 up 0.0049<BR>Chicago soybeans closed slightly lower.</DIV>
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<DIV> MAR11 HI 14.23 1/4 NOV11 HI 13.43 3/4<BR> LOW 13.92 1/2 LOW 13.17<BR> CLOSE13.98 Down 1 1/2 CLOSE 13.23 Down 2 1/2</DIV>
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<DIV> OLD CROP NEW CROP<BR>Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt<BR>ELEVATORS +MAR1+MAY1+MAY11<BR>CK Low -1.15 12.83 471.42-1.30 11.93 438.35<BR>CK High -1.10 12.88 473.26-1.10 12.13 445.70<BR>CK Average -1.12 -1.1312.86 472.67-1.24-1.2811.99 440.48<BR>Essex Cty -1.01 12.97 476.57-1.23 12.00 440.92<BR>Mdsx Low -1.12 12.86 472.52-1.30 11.93 438.35<BR>Mdsx High -1.10 12.88 473.26-1.19 12.04 442.39<BR>Mdsx Average -1.11 -1.1212.87 473.01-1.26-1.3011.97 439.94<BR>Hensall -1.15 12.83 471.42-1.30 11.93 438.35<BR>Bruce -1.10 12.88 473.26-1.30 11.93 438.35<BR>Putnam -1.10 12.88 473.26-1.30 11.93 438.35<BR>Princeton -1.08 12.90 473.99-1.20 12.03 442.03<BR>Durham -1.21 12.77 469.22-1.21 12.02 441.66<BR>Norfolk -1.05 12.93 475.10-1.24 11.99 440.56<BR>Trenton -1.30 12.68 465.91-1.10 12.13 445.70<BR>Winchester -0.95 13.03 478.77-0.95 12.28 451.21<BR>North Gower -0.95 13.03 478.77-0.95 12.28 451.21<BR>Huron FOB -1.05 12.93 475.10-1.20 12.03 442.03<BR>Kent FOB -1.10 12.88 473.26-1.30 11.93 438.35<BR>Lambton FOB -1.10 12.88 473.26-1.30 11.93 438.35<BR>Middlesex FOB-1.02-1.00-0.97-0.97 12.96 476.20-0.97 12.26 450.48</DIV>
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<DIV>PROCESSORS<BR>Hamilton -0.65-0.65-0.60-0.50 13.33 489.79-0.55 12.68 465.91<BR>Windsor -0.52-0.52-0.52-0.62 13.46 494.57-0.71 12.52 460.03<BR>Winchester -0.85 13.13 482.44-0.85 12.38 454.89</DIV>
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<DIV>TRANSFER<BR>Hamilton -0.90 N/A N/A N/A 13.08 480.61-0.52 12.71 467.01<BR>Pt. Stanley -1.24 12.74 468.11-0.97 12.26 450.48<BR>Sarnia -0.80 13.18 484.28-0.67 12.56 461.50<BR>Owen Sound N/A N/A<BR>Sorel QC -0.25 13.73 504.49-0.20 13.03 478.77</DIV>
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<DIV>Toledo El. -0.25 13.73 504.48-0.53 12.70 466.59</DIV>
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<DIV><BR>Bank of Canada Noon exchange rate was 0.999 up 0.0049<BR>Chicago wheat closed moderately lower to lower.<BR>MAR11 HI 8.49 3/4 JUL11 HI 8.97 1/2<BR> LOW 8.24 1/2 LOW 8.73 3/4<BR> CLOSE 8.25 3/4 Down 20 1/2 CLOSE 8.74 3/4 Down 19 3/4</DIV>
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<DIV>Minni wheat closed moderately lower.<BR>MAR11 HI 9.79 SEP11 HI 9.81<BR> LOW 9.59 1/4 LOW 9.62<BR> CLOSE 9.61 1/2 Down 14 1/2 CLOSE 9.63 1/2 Down 14 1/2</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 -0.59 -0.19 -0.59 -0.49<BR>CAD $/bu 7.66 8.06 7.66 9.12<BR>CAD $/tonne 281.56 296.27 281.56 335.15</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 -0.75 -1.10 N/A N/A -1.15 -2.05 N/A<BR>London -0.73 -0.73 -1.08 N/A -1.18 -1.18 -2.08 N/A<BR>Hensall -0.70 N/A -1.05 N/A -1.20 N/A -2.00 N/A<BR>Trenton N/A N/A N/A N/A N/A N/A -2.05 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 -1.00 N/A N/A N/A -2.07 N/A<BR>Norwich -0.70 N/A -1.05 N/A -1.10 N/A -2.00 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 -1.05 N/A -1.10 N/A -2.00 N/A<BR>Chatham N/A -0.73 -1.03 N/A N/A -1.13 -2.03 N/A<BR>Brigden N/A -0.73 -1.03 N/A N/A -1.13 -2.03 N/A<BR>Palmerston N/A -0.78 -1.48 -0.56 N/A -1.28 -2.28 -1.19<BR>Mitchell -0.70 -0.60 -1.05 N/A -1.20 -1.15 -2.00 N/A<BR>Thornton N/A N/A N/A -1.19 N/A N/A N/A -1.67<BR>North Gower N/A N/A N/A N/A N/A N/A N/A -1.20</DIV>
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<DIV>TERMINAL<BR>Sarnia -0.77 -0.27 -0.62 N/A -1.06 -0.80 -1.71 N/A<BR>Hamilton N/A N/A -0.50 N/A N/A N/A -1.40 N/A<BR>Pt. Stanley N/A N/A -0.95 N/A N/A N/A -1.80 N/A</DIV>
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<DIV>PROCESSORS<BR>Toledo FM N/A 0.71 -0.19 N/A 0.28 0.03 -0.68 N/A</DIV>
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<DIV>Toledo El. 7.98US 7.98CA 8.02US 8.04CA</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 -1.08 -0.73 -1.63 -0.97<BR>CAD $/bu 7.67 8.02 7.12 8.66<BR>CAD $/tonne 281.81 294.71 261.55 318.20</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 285.00 - 290.00<BR>Bayport Oats 320.00<BR>Bayport Barley 260.00<BR>FOB Hm Soymeal 406.76 - 416.68<BR>DDG's FOB Srn, Wndr, Aylm 195.00 - 220.00<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>