<HTML><HEAD>
<META content="text/html; charset=utf-8" http-equiv=Content-Type>
<META name=GENERATOR content="MSHTML 8.00.6001.19046"></HEAD>
<BODY style="MARGIN: 4px 4px 1px; FONT: 10pt Tahoma">
<DIV>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Tue, May 17<BR>(All Bases in CAD)<BR>Bank of Canada Noon exchange rate was 0.9773 up 0.0070<BR>Chicago corn closed higher to sharply higher.</DIV>
<DIV> </DIV>
<DIV> JUL11 HI 7.21 DEC11 HI 6.54<BR> LOW 6.95 1/2 LOW 6.32 3/4<BR> CLOSE7.20 1/4 Up 22 3/4 CLOSE 6.53 1/4 Up 17 3/4</DIV>
<DIV> </DIV>
<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 -0.40 6.80 267.80 -0.95 5.58 219.77<BR>CK High -0.40 6.80 267.80 -0.95 5.58 219.77<BR>CK Avg -0.40 -0.21 6.80 267.80 -0.95 -0.78 5.58 219.77<BR>Essex Cty -0.40 6.80 267.80 -0.95 5.58 219.77<BR>Mdsx Low -0.40 6.80 267.80 -0.95 5.58 219.77<BR>Mdsx High -0.40 6.80 267.80 -0.95 5.58 219.77<BR>Mdsx Avg -0.40 -0.21 6.80 267.80 -0.95 -0.78 5.58 219.77<BR>Hensall -0.40 6.80 267.80 -0.93 5.61 220.76<BR>Bruce -0.40 6.80 267.80 -0.95 5.58 219.77<BR>Putnam -0.40 6.80 267.80 -0.95 5.58 219.77<BR>Princeton -0.40 6.80 267.80 -0.95 5.58 219.77<BR>Durham -0.40 6.80 267.80 -1.00 5.53 217.80<BR>Norfolk -0.40 6.80 267.80 -0.95 5.58 219.77<BR>Trenton -0.45 6.75 265.83 -1.05 5.48 215.84<BR>Winchester -0.15 7.05 277.64 -0.95 5.58 219.77<BR>North Gower -0.45 6.75 265.83 -1.20 5.33 209.93<BR>Huron FOB -0.40 6.80 267.80 -0.80 5.73 225.68<BR>Kent FOB -0.40 6.80 267.80 -0.95 5.58 219.77<BR>Lamb FOB -0.40 6.80 267.80 -0.95 5.58 219.77<BR>Mdsx FOB -0.40 -0.40 -0.10 0.10 6.80 267.80 -0.95 5.58 219.77<BR>FOB SW Que -0.25 6.95 273.71 -0.70 5.83 229.62<BR>Track 0.08 7.28 286.50N/A<BR>PROCESSORS<BR>Chat-Eth N/A -0.40 0.15 0.35 -0.75 5.78 227.65<BR>Jhnstwn-Eth N/A N/A N/A N/A N/A<BR>Aylmer-Eth -0.25 -0.25 0.20 0.30 6.95 273.71 -0.80 5.73 225.68<BR>Sarn-Eth N/A -0.35 0.20 0.40 N/A<BR>Cllngwd-Eth -0.25N/A N/A N/A 6.95 273.71-0.75* 5.78 227.65<BR>Kwrth-Eth 0.20 -0.10 0.15N/A 7.40 291.42N/A<BR>London-Cas N/A N/A 0.05 0.25 -0.70 5.83 229.62<BR>Pt.Colb-Cas N/A N/A 0.25 0.35 -0.65 5.88 231.58<BR>Cardnl-Cas N/A 0.00 0.30 0.35 -0.65 5.88 231.58<BR>W O Feed -0.01 0.01 7.19 283.00</DIV>
<DIV> </DIV>
<DIV>US Rep 0.50 0.52 7.70 303.23<BR>Toledo El. -0.01 7.19 283.17 -0.46 6.07 239.16</DIV>
<DIV> </DIV>
<DIV>TRANSFER<BR>Sarnia -0.40 6.80 267.80 -0.95 5.58 219.77<BR>Pt. Stanley -0.50 6.70 263.87 -0.95 5.58219 7/9<BR>Hamilton 0.00 7.20 283.55 -0.58 5.95234 1/3</DIV>
<DIV> </DIV>
<DIV>MID SD CRN -0.95 5.58 1/4<BR>HI SD CRN -0.95 5.58 1/4<BR>*Wet Bid</DIV>
<DIV> </DIV>
<DIV><BR>Bank of Canada Noon exchange rate was 0.9773 up 0.0070<BR>Chicago soybeans closed moderately higher.</DIV>
<DIV> </DIV>
<DIV> JUL11 HI 13.42 3/4 NOV11 HI 13.23<BR> LOW 13.12 1/4 LOW 12.95<BR> CLOSE13.41 Up 14 1/2 CLOSE 13.20 1/2 Up 14 1/4</DIV>
<DIV> </DIV>
<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 -0.80 12.61 463.34-1.25 11.96 439.27<BR>CK High -0.69 12.72 467.38-1.21 12.00 440.74<BR>CK Average -0.75 -0.3912.66 465.24-1.24-0.8911.97 439.76<BR>Essex Cty -0.70 12.71 467.01-1.13 12.08 443.68<BR>Mdsx Low -0.80 12.61 463.34-1.25 11.96 439.27<BR>Mdsx High -0.75 12.66 465.18-1.21 12.00 440.74<BR>Mdsx Average -0.78 -0.4312.63 463.95-1.24-0.8911.97 439.76<BR>Hensall -0.78 12.64 464.26-1.28 11.93 438.35<BR>Bruce -0.75 12.66 465.18-1.25 11.96 439.27<BR>Putnam -0.75 12.66 465.18-1.25 11.96 439.27<BR>Princeton -0.74 12.67 465.54-1.15 12.06 442.95<BR>Durham -0.76 12.65 464.81-1.22 11.99 440.37<BR>Norfolk -0.70 12.71 467.01-1.18 12.03 441.84<BR>Trenton -1.00 12.41 455.99-1.15 12.06 442.95<BR>Winchester -0.85 12.56 461.50-1.00 12.21 448.46<BR>North Gower -0.75 12.66 465.18-1.10 12.11 444.78<BR>Huron FOB -0.75 12.66 465.18-1.25 11.96 439.27<BR>Kent FOB -0.75 12.66 465.18-1.23 11.98 440.01<BR>Lambton FOB -0.75 12.66 465.18-1.23 11.98 440.01<BR>Middlesex FOB-0.55-0.55 N/A N/A 12.86 472.52-1.06 12.15 446.25</DIV>
<DIV> </DIV>
<DIV>PROCESSORS<BR>Hamilton -0.25-0.25-0.40-0.50 13.16 483.55-0.65 12.56 461.32<BR>Windsor -0.28-0.28-0.31 N/A 13.13 482.44-0.86 12.35 453.60<BR>Winchester -0.86 12.55 461.13-1.11 12.10 444.42</DIV>
<DIV> </DIV>
<DIV>TRANSFER<BR>Hamilton -0.35 N/A N/A N/A 13.06 479.87-0.70 12.51 459.48<BR>Pt. Stanley -0.80 12.61 463.34-1.15 12.06 442.95<BR>Sarnia -0.64 12.77 469.22-0.77 12.44 456.91<BR>Owen Sound N/A N/A<BR>Sorel QC -0.55 12.86 472.52-0.30 12.91 474.18</DIV>
<DIV> </DIV>
<DIV>Toledo El. -0.13 13.28 488.08-0.47 12.74 468.03</DIV>
<DIV> </DIV>
<DIV><BR>Bank of Canada Noon exchange rate was 0.9773 up 0.0070<BR>Chicago wheat closed higher.<BR>JUL11 HI 7.66 JUL11 HI 7.66<BR> LOW 7.32 LOW 7.32<BR> CLOSE 7.64 Up 27 1/2 CLOSE 7.64 Up 27 1/2</DIV>
<DIV> </DIV>
<DIV>Minni wheat closed higher.<BR>JUL11 HI 9.38 3/4 SEP11 HI 9.39<BR> LOW 9.06 3/4 LOW 9.10 1/2<BR> CLOSE 9.36 1/4 Up 26 CLOSE 9.36 3/4 Up 23 1/4</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 -0.93 -0.30 -0.79 -0.39<BR>CAD $/bu 6.71 7.34 6.85 8.97<BR>CAD $/tonne 246.48 269.74 251.85 329.57</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 -0.44 -0.95 N/A N/A -0.44 -1.35 N/A<BR>London -0.63 -0.38 -0.97 N/A -0.77 -0.48 -1.31 N/A<BR>Hensall -0.60 N/A -0.95 N/A -0.70 N/A -1.35 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 -0.60 N/A -0.95 N/A -0.70 N/A -1.35 N/A<BR>Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A<BR>Kent Bridge -0.60 N/A -0.95 N/A -0.70 N/A -1.35 N/A<BR>Chatham N/A -0.44 -1.00 N/A N/A -0.44 -1.33 N/A<BR>Brigden N/A -0.44 -1.00 N/A N/A -0.44 -1.33 N/A<BR>Palmerston N/A -0.21 -0.91 0.11 N/A -0.33 -1.29 -0.79<BR>Mitchell -0.60 -0.40 -0.95 N/A -0.70 -0.50 -1.35 N/A<BR>Thornton N/A N/A N/A -0.99 N/A N/A N/A -1.58<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 -0.51 -0.08 -0.61 N/A -0.65 -0.11 -0.99 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 -0.65 N/A N/A N/A -1.20 N/A</DIV>
<DIV> </DIV>
<DIV>PROCESSORS<BR>Toledo FM N/A N/A N/A N/A 0.04 0.48 -0.30 N/A</DIV>
<DIV> </DIV>
<DIV>Toledo El. 7.31US 7.12CA 7.41US 7.21CA</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 -0.88 -0.30 -1.18 -0.83<BR>CAD $/bu 6.76 7.34 6.46 8.54<BR>CAD $/tonne 248.27 269.74 237.54 313.65</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 290.00 - 298.00<BR>Bayport Oats 300.00<BR>Bayport Barley 257.00<BR>FOB Hm Soymeal 389.56<BR>DDG's FOB Srn, Wndr, Aylm 215.00 - 230.00<BR></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></BODY></HTML>