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<DIV>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Fri, May 20<BR>(All Bases in CAD)<BR>Bank of Canada Noon exchange rate was 0.9735 up 0.0034<BR>Chicago corn closed slightly higher to higher.</DIV>
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<DIV> JUL11 HI 7.65 DEC11 HI 6.71 1/2<BR> LOW 7.43 1/4 LOW 6.53 1/2<BR> CLOSE7.59 1/2 Up 11 1/4 CLOSE 6.66 1/2 Up 4 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 -0.30 7.30 287.19 -0.80 5.87 230.89<BR>CK High -0.25 7.35 289.16 -0.75 5.92 232.86<BR>CK Avg -0.29 -0.08 7.31 287.72 -0.79 -0.61 5.88 231.35<BR>Essex Cty -0.30 7.30 287.19 -0.80 5.87 230.89<BR>Mdsx Low -0.30 7.30 287.19 -0.80 5.87 230.89<BR>Mdsx High -0.30 7.30 287.19 -0.80 5.87 230.89<BR>Mdsx Avg -0.30 -0.09 7.30 287.19 -0.80 -0.62 5.87 230.89<BR>Hensall -0.30 7.30 287.19 -0.80 5.87 230.89<BR>Bruce -0.30 7.30 287.19 -0.80 5.87 230.89<BR>Putnam -0.30 7.30 287.19 -0.80 5.87 230.89<BR>Princeton -0.30 7.30 287.19 -0.80 5.87 230.89<BR>Durham -0.30 7.30 287.19 -0.80 5.87 230.89<BR>Norfolk -0.27 7.33 288.37 -0.78 5.89 231.68<BR>Trenton -0.35 7.25 285.22 -0.75 5.92 232.86<BR>Winchester -0.05 7.55 297.03 -0.65 6.02 236.80<BR>North Gower -0.35 7.25 285.22 -1.10 5.57 219.08<BR>Huron FOB -0.25 7.35 289.16 -0.75 5.92 232.86<BR>Kent FOB -0.27 7.33 288.37 -0.78 5.89 231.68<BR>Lamb FOB -0.27 7.33 288.37 -0.78 5.89 231.68<BR>Mdsx FOB -0.30 -0.30 0.15 0.30 7.30 287.19 -0.80 5.87 230.89<BR>FOB SW Que -0.20 7.40 291.13 -0.70 5.97 234.83<BR>Track 0.08 7.67 301.95N/A<BR>PROCESSORS<BR>Chat-Eth N/A -0.40 0.15 0.35 -0.75 5.92 232.86<BR>Jhnstwn-Eth N/A N/A N/A N/A N/A<BR>Aylmer-Eth -0.25 -0.25 0.20 0.30 7.35 289.16 -0.80 5.87 230.89<BR>Sarn-Eth N/A -0.15 0.35 0.50 N/A<BR>Cllngwd-Eth -0.25N/A N/A N/A 7.35 289.16-0.75* 5.92 232.86<BR>Kwrth-Eth N/A -0.10 0.15N/A N/A<BR>London-Cas N/A N/A 0.05 0.25 -0.70 5.97 234.83<BR>Pt.Colb-Cas N/A N/A 0.25 0.35 -0.65 6.02 236.80<BR>Cardnl-Cas N/A 0.00 0.30 0.35 -0.65 6.02 236.80<BR>W O Feed 0.04 0.07 7.64 300.58</DIV>
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<DIV>US Rep 0.40 0.43 8.00 314.75<BR>Toledo El. 0.12 7.71 303.60 -0.42 6.25 245.92</DIV>
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<DIV>TRANSFER<BR>Sarnia -0.30 7.30 287.19 -0.80 5.87 230.89<BR>Pt. Stanley -0.38 7.22 284.04 -0.87 5.80228 1/7<BR>Hamilton -0.05 7.55 297.03 -0.72 5.95234</DIV>
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<DIV>MID SD CRN -0.77 1/2 5.89<BR>HI SD CRN -0.75 5.91 1/2<BR>*Wet Bid</DIV>
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<DIV><BR>Bank of Canada Noon exchange rate was 0.9735 up 0.0034<BR>Chicago soybeans closed steady to slightly higher.</DIV>
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<DIV> JUL11 HI 13.96 NOV11 HI 13.61<BR> LOW 13.65 LOW 13.37 1/4<BR> CLOSE13.80 1/4 Up 3/4 CLOSE 13.50 1/2 Up 1</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 -0.88 12.92 474.82-1.30 12.21 448.46<BR>CK High -0.68 13.12 482.17-1.15 12.36 453.97<BR>CK Average -0.75 -0.3813.05 479.54-1.24-0.8812.26 450.54<BR>Essex Cty -0.73 13.07 480.33-1.24 12.27 450.66<BR>Mdsx Low -0.83 12.97 476.66-1.31 12.20 448.09<BR>Mdsx High -0.75 13.05 479.60-1.25 12.26 450.29<BR>Mdsx Average -0.79 -0.4213.01 478.13-1.27-0.9012.24 449.56<BR>Hensall -0.78 13.03 478.68-1.28 12.23 449.38<BR>Bruce -0.75 13.05 479.60-1.25 12.26 450.29<BR>Putnam -0.75 13.05 479.60-1.25 12.26 450.29<BR>Princeton -0.83 12.97 476.66-1.26 12.25 449.93<BR>Durham -0.75 13.05 479.60-1.22 12.29 451.40<BR>Norfolk -0.65 13.15 483.27-1.22 12.29 451.40<BR>Trenton -1.10 12.70 466.74-1.30 12.21 448.46<BR>Winchester -0.92 12.88 473.35-1.20 12.31 452.13<BR>North Gower -0.85 12.95 475.92-0.85 12.66 464.99<BR>Huron FOB -0.70 13.10 481.43-1.20 12.31 452.13<BR>Kent FOB -0.70 13.10 481.43-1.27 12.24 449.56<BR>Lambton FOB -0.70 13.10 481.43-1.27 12.24 449.56<BR>Middlesex FOB-0.74-0.64 N/A N/A 13.06 479.96-1.06 12.45 457.28</DIV>
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<DIV>PROCESSORS<BR>Hamilton -0.35-0.35-0.52-0.57 13.45 494.29-0.77 12.74 467.93<BR>Windsor -0.33-0.33-0.32 N/A 13.47 495.03-0.91 12.60 462.79<BR>Winchester -0.82 12.98 477.03-1.10 12.41 455.81</DIV>
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<DIV>TRANSFER<BR>Hamilton -0.50 N/A N/A N/A 13.30 488.78-0.75 12.76 468.67<BR>Pt. Stanley -0.90 12.90 474.09-1.20 12.31 452.13<BR>Sarnia -0.71 13.09 481.07-0.87 12.64 464.26<BR>Owen Sound N/A N/A<BR>Sorel QC -0.60 13.20 485.11-0.35 13.16 483.36</DIV>
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<DIV>Toledo El. 0.02 13.82 507.87-0.42 13.09 480.85</DIV>
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<DIV><BR>Bank of Canada Noon exchange rate was 0.9735 up 0.0034<BR>Chicago wheat closed slightly lower.<BR>JUL11 HI 8.18 1/2 JUL11 HI 8.18 1/2<BR> LOW 7.90 LOW 7.90<BR> CLOSE 8.06 1/2 Down 5 1/2 CLOSE 8.06 1/2 Down 5 1/2</DIV>
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<DIV>Minni wheat closed slightly lower.<BR>JUL11 HI 10.11 3/4 SEP11 HI 9.96<BR> LOW 9.78 LOW 9.69<BR> CLOSE 9.99 3/4 Down 6 1/2 CLOSE 9.80 3/4 Down 8 3/4</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 -0.61 -0.22 -0.66 -0.42<BR>CAD $/bu 7.46 7.85 7.41 9.58<BR>CAD $/tonne 274.00 288.29 272.21 352.01</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 N/A N/A N/A N/A -0.40 -1.25 N/A<BR>London -0.63 -0.39 -0.97 N/A -0.78 -0.49 -1.32 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 -1.15 N/A<BR>Winchester N/A N/A N/A N/A N/A N/A N/A -1.05<BR>Essex N/A N/A -0.86 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 -0.47 -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 -0.24 -0.93 0.07 N/A -0.36 -1.32 -0.82<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 -1.20 N/A N/A N/A -1.59<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 -0.51 -0.08 -0.61 N/A -0.65 -0.11 -0.99 N/A<BR>Hamilton N/A N/A -0.25 N/A N/A N/A -0.80 N/A<BR>Pt. Stanley N/A N/A -0.80 N/A N/A N/A -1.25 N/A</DIV>
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<DIV>PROCESSORS<BR>Toledo FM N/A N/A N/A N/A 0.02 0.46 -0.32 N/A</DIV>
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<DIV>Toledo El. 7.74US 7.53CA 7.84US 7.62CA</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 -0.71 -0.12 -0.90 -0.85<BR>CAD $/bu 7.36 7.94 7.17 8.96<BR>CAD $/tonne 270.42 291.87 263.27 329.13</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 399.70 - 400.81<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>