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<DIV>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Mon, May 16<BR>(All Bases in CAD)<BR>Bank of Canada Noon exchange rate was 0.9703 down 0.0006<BR>Chicago corn closed moderately higher to higher.</DIV>
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<DIV> JUL11 HI 7.08 DEC11 HI 6.45 3/4<BR> LOW 6.88 3/4 LOW 6.29 1/4<BR> CLOSE6.97 1/2 Up 15 1/2 CLOSE 6.35 1/2 Up 8 1/2</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 +JUL11+SEP11+SEP11<BR>CK Low -0.55 6.43 252.94 -1.00 5.36 210.82<BR>CK High -0.40 6.58 258.85 -0.95 5.41 212.79<BR>CK Avg -0.43 -0.24 6.55 257.67 -0.99 -0.82 5.37 211.21<BR>Essex Cty -0.55 6.43 252.94 -1.00 5.36 210.82<BR>Mdsx Low -0.55 6.43 252.94 -1.00 5.36 210.82<BR>Mdsx High -0.40 6.58 258.85 -1.00 5.36 210.82<BR>Mdsx Avg -0.45 -0.26 6.53 256.88 -1.00 -0.83 5.36 210.82<BR>Hensall -0.40 6.58 258.85 -0.98 5.38 211.80<BR>Bruce -0.40 6.58 258.85N/A 5.67 223.02<BR>Putnam -0.40 6.58 258.85 -1.00 5.36 210.82<BR>Princeton -0.55 6.43 252.94 -1.00 5.36 210.82<BR>Durham -0.40 6.58 258.85 -1.05 5.31 208.85<BR>Norfolk -0.40 6.58 258.85 -0.95 5.41 212.79<BR>Trenton -0.45 6.53 256.88 -1.05 5.31 208.85<BR>Winchester -0.15 6.83 268.69 -0.95 5.41 212.79<BR>North Gower -0.45 6.53 256.88 -1.20 5.16 202.94<BR>Huron FOB -0.45 6.53 256.88 -0.95 5.41 212.79<BR>Kent FOB -0.40 6.58 258.85 -0.95 5.41 212.79<BR>Lamb FOB -0.40 6.58 258.85 -0.95 5.41 212.79<BR>Mdsx FOB -0.40 -0.35 0.00N/A 6.58 258.85 -0.95 5.41 212.79<BR>FOB SW Que -0.35 6.63 260.81 -0.75 5.61 220.66<BR>Track 0.08 7.05 277.55N/A<BR>PROCESSORS<BR>Chat-Eth N/A -0.40 0.15 0.35 -0.75 5.61 220.66<BR>Jhnstwn-Eth N/A N/A N/A N/A N/A<BR>Aylmer-Eth -0.30 -0.30 0.00N/A 6.68 262.78N/A<BR>Sarn-Eth N/A -0.35 0.20 0.40 N/A<BR>Cllngwd-Eth -0.50N/A N/A N/A 6.48 254.91-0.80* 5.56 218.69<BR>Kwrth-Eth 0.20 -0.15 0.15N/A 7.18 282.47N/A<BR>London-Cas N/A N/A 0.05 0.25 -0.70 5.66 222.63<BR>Pt.Colb-Cas N/A N/A 0.25 0.35 -0.65 5.71 224.60<BR>Cardnl-Cas N/A 0.00 0.30 0.35 -0.65 5.71 224.60<BR>W O Feed -0.12 -0.10 6.85 269.71</DIV>
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<DIV>US Rep 0.50 0.53 7.48 294.28<BR>Toledo El. -0.01 6.97 274.21 -0.46 5.90 232.18</DIV>
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<DIV>TRANSFER<BR>Sarnia -0.55 6.43 252.94 -1.00 5.36 210.82<BR>Pt. Stanley -0.52 6.46 254.12 -0.97 5.39212<BR>Hamilton -0.03 6.95 273.41 -0.74 5.62221</DIV>
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<DIV>MID SD CRN -0.97 1/2 5.38<BR>HI SD CRN -0.95 5.40 1/2<BR>*Wet Bid</DIV>
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<DIV><BR>Bank of Canada Noon exchange rate was 0.9703 down 0.0006<BR>Chicago soybeans closed slightly lower.</DIV>
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<DIV> JUL11 HI 13.44 NOV11 HI 13.23<BR> LOW 13.22 1/2 LOW 13.03<BR> CLOSE13.26 1/2 Down 3 CLOSE 13.06 1/4 Down 4 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 +JUL1+JUL1+AUG11<BR>CK Low -0.87 12.40 455.44-1.29 11.77 432.57<BR>CK High -0.71 12.56 461.32-1.25 11.81 434.04<BR>CK Average -0.79 -0.4412.47 458.30-1.26-0.9111.80 433.67<BR>Essex Cty -0.77 12.50 459.11-1.24 11.82 434.40<BR>Mdsx Low -0.89 12.38 454.70-1.31 11.75 431.83<BR>Mdsx High -0.80 12.47 458.01-1.25 11.81 434.04<BR>Mdsx Average -0.84 -0.4812.43 456.66-1.27-0.9211.79 433.30<BR>Hensall -0.83 12.44 457.09-1.30 11.76 432.20<BR>Bruce -0.80 12.47 458.01-1.25 11.81 434.04<BR>Putnam -0.80 12.47 458.01-1.25 11.81 434.04<BR>Princeton -0.80 12.47 458.01-1.25 11.81 434.04<BR>Durham -0.78 12.49 458.75-1.22 11.84 435.14<BR>Norfolk -0.73 12.54 460.58-1.21 11.85 435.50<BR>Trenton -1.10 12.17 446.99-1.30 11.76 432.20<BR>Winchester -0.96 12.31 452.13-1.21 11.85 435.50<BR>North Gower -0.75 12.52 459.85-1.10 11.96 439.55<BR>Huron FOB -0.80 12.47 458.01-1.30 11.76 432.20<BR>Kent FOB -0.78 12.49 458.75-1.26 11.80 433.67<BR>Lambton FOB -0.78 12.49 458.75-1.26 11.80 433.67<BR>Middlesex FOB-0.57-0.57 N/A N/A 12.70 466.46-1.06 12.00 441.02</DIV>
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<DIV>PROCESSORS<BR>Hamilton -0.31-0.31-0.46-0.51 12.96 476.01-0.75 12.31 452.41<BR>Windsor -0.29-0.29-0.32 N/A 12.98 476.75-0.87 12.19 448.00<BR>Winchester -0.85 12.42 456.17-1.25 11.81 434.04</DIV>
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<DIV>TRANSFER<BR>Hamilton -0.40 N/A N/A N/A 12.87 472.71-0.70 12.36 454.24<BR>Pt. Stanley -0.85 12.42 456.17-1.20 11.86 435.87<BR>Sarnia -0.73 12.54 460.58-0.90 12.16 446.90<BR>Owen Sound N/A N/A<BR>Sorel QC -0.60 12.67 465.36-0.35 12.71 467.10</DIV>
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<DIV>Toledo El. -0.13 13.14 482.76-0.47 12.60 462.80</DIV>
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<DIV><BR>Bank of Canada Noon exchange rate was 0.9703 down 0.0006<BR>Chicago wheat closed slightly higher.<BR>JUL11 HI 7.47 3/4 JUL11 HI 7.47 3/4<BR> LOW 7.29 3/4 LOW 7.29 3/4<BR> CLOSE 7.36 1/2 Up 8 3/4 CLOSE 7.36 1/2 Up 8 3/4</DIV>
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<DIV>Minni wheat closed slightly higher.<BR>JUL11 HI 9.18 3/4 SEP11 HI 9.21 1/2<BR> LOW 9.02 1/4 LOW 9.07<BR> CLOSE 9.10 1/4 Up 10 CLOSE 9.13 1/2 Up 10</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 -0.93 -0.29 -0.78 -0.39<BR>CAD $/bu 6.44 7.07 6.58 8.71<BR>CAD $/tonne 236.58 259.82 241.94 320.18</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 -0.47 -1.05 N/A N/A -0.47 -1.45 N/A<BR>London -0.64 -0.40 -0.98 N/A -0.77 -0.48 -1.31 N/A<BR>Hensall -0.70 N/A -1.05 N/A -0.80 N/A -1.45 N/A<BR>Trenton N/A N/A N/A N/A N/A N/A -1.25 N/A<BR>Winchester N/A N/A N/A N/A N/A N/A N/A -1.30<BR>Essex N/A N/A -0.83 N/A N/A N/A -1.36 N/A<BR>Norwich -0.70 N/A -1.05 N/A -0.80 N/A -1.45 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 -0.80 N/A -1.45 N/A<BR>Chatham N/A -0.47 -1.03 N/A N/A -0.47 -1.36 N/A<BR>Brigden N/A -0.47 -1.03 N/A N/A -0.47 -1.36 N/A<BR>Palmerston N/A -0.21 -0.91 0.11 N/A -0.28 -1.24 -0.79<BR>Mitchell -0.70 -0.50 -1.05 N/A -0.80 -0.60 -1.45 N/A<BR>Thornton N/A N/A N/A -1.01 N/A N/A N/A -1.62<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 -0.58 -0.14 -0.67 N/A -0.69 -0.16 -1.03 N/A<BR>Hamilton N/A N/A -0.20 N/A N/A N/A -0.75 N/A<BR>Pt. Stanley N/A N/A -0.75 N/A N/A N/A -1.20 N/A</DIV>
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<DIV>PROCESSORS<BR>Toledo FM N/A N/A N/A N/A 0.05 0.48 -0.29 N/A</DIV>
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<DIV>Toledo El. 7.04US 6.85CA 7.14US 6.94CA</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 -0.88 -0.29 -1.17 -0.83<BR>CAD $/bu 6.49 7.07 6.20 8.31<BR>CAD $/tonne 238.37 259.82 227.64 305.24</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 290.00 - 298.00<BR>Bayport Oats 300.00<BR>Bayport Barley 257.00<BR>FOB Hm Soymeal 381.08 - 382.18<BR>DDG's FOB Srn, Wndr, Aylm 215.00 - 230.00<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>