FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Tue, May 31 (All Bases in CAD) Bank of Canada Noon exchange rate was 0.9688 down 0.0077 Chicago corn closed lower. JUL11 HI 7.63 3/4 DEC11 HI 6.83 LOW 7.43 LOW 6.65 CLOSE7.47 1/2 Down 11 CLOSE 6.73 Down 11 OLD CROP BASIS NEW CROP BASIS Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt ELEVATORS +JUL11+SEP11+SEP11 CK Low -0.05 7.43 292.31 -0.55 6.18 243.30 CK High -0.05 7.43 292.31 -0.45 6.28 247.23 CK Avg -0.05 0.18 7.43 292.31 -0.47 -0.26 6.26 246.41 Essex Cty -0.05 7.43 292.31 -0.55 6.18 243.30 Mdsx Low -0.05 7.43 292.31 -0.55 6.18 243.30 Mdsx High -0.05 7.43 292.31 -0.45 6.28 247.23 Mdsx Avg -0.05 0.18 7.43 292.31 -0.48 -0.28 6.25 245.92 Hensall -0.05 7.43 292.31 -0.50 6.23 245.26 Bruce -0.05 7.43 292.31 -0.45 6.28 247.23 Putnam -0.05 7.43 292.31 -0.45 6.28 247.23 Princeton -0.05 7.43 292.31 -0.55 6.18 243.30 Durham -0.05 7.43 292.31 -0.45 6.28 247.23 Norfolk -0.05 7.43 292.31 -0.45 6.28 247.23 Trenton -0.10 7.38 290.34 -0.45 6.28 247.23 Winchester 0.20 7.68 302.15 -0.50 6.23 245.26 North Gower -0.10 7.38 290.34 -0.90 5.83 229.52 Huron FOB -0.05 7.43 292.31 -0.55 6.18 243.30 Kent FOB -0.05 7.43 292.31 -0.45 6.28 247.23 Lamb FOB -0.05 7.43 292.31 -0.45 6.28 247.23 Mdsx FOB -0.05 0.40 0.50N/A 7.43 292.31 -0.55 6.18 243.30 FOB SW Que -0.10 7.38 290.34 -0.70 6.03 237.39 Track 0.33 7.80 307.07N/A PROCESSORS Chat-Eth N/A N/A N/A N/A N/A 6.07 238.77 Jhnstwn-Eth N/A N/A N/A N/A N/A Aylmer-Eth 0.10 0.50 0.55 0.90 7.58 298.21 -0.65 6.08 239.36 Sarn-Eth 0.15 0.55 0.70 1.10 7.63 300.18N/A Cllngwd-Eth N/A N/A N/A N/A 7.13 280.50-0.60* 6.13 241.33 Kwrth-Eth 0.20N/A N/A N/A 7.68 302.15N/A London-Cas N/A 0.55 0.60 0.95 -0.75 5.98 235.42 Pt.Colb-Cas N/A 0.65 0.70 1.15 -0.70 6.03 237.39 Cardnl-Cas 0.35 0.65 0.70 1.15 7.83 308.06 -0.80 5.93 233.45 W O Feed 0.19 0.22 7.67 301.76 US Rep 0.40 0.43 7.88 310.03 Toledo El. 0.21 7.69 302.67 -0.42 6.31 248.54 TRANSFER Sarnia -0.05 7.43 292.31 -0.55 6.18 243.30 Pt. Stanley -0.37 7.11 279.71 -0.62 6.11240 1/2 Hamilton 0.00 7.48 294.28 -0.53 6.20244 MID SD CRN -0.50 6.23 HI SD CRN -0.45 6.28 *Wet Bid Bank of Canada Noon exchange rate was 0.9688 down 0.0077 Chicago soybeans closed slightly lower. JUL11 HI 13.91 1/4 NOV11 HI 13.77 3/4 LOW 13.66 1/2 LOW 13.54 3/4 CLOSE13.76 Down 3 3/4 CLOSE 13.63 1/2 Down 5 OLD CROP NEW CROP Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt ELEVATORS +JUL1+JUL1+AUG11 CK Low -0.90 12.86 472.52-1.36 12.28 451.03 CK High -0.71 13.05 479.51-1.16 12.48 458.38 CK Average -0.82 -0.4012.94 475.34-1.29-0.8712.34 453.54 Essex Cty -0.65 13.11 481.71-1.10 12.54 460.58 Mdsx Low -0.97 12.79 469.95-1.35 12.29 451.40 Mdsx High -0.67 13.09 480.98-1.17 12.47 458.01 Mdsx Average -0.81 -0.3912.95 475.71-1.29-0.8712.35 453.72 Hensall -0.75 13.01 478.04-1.30 12.34 453.23 Bruce -0.80 12.96 476.20-1.35 12.29 451.40 Putnam -0.80 12.96 476.20-1.35 12.29 451.40 Princeton -0.62 13.14 482.81-1.11 12.53 460.21 Durham -0.93 12.83 471.42-1.31 12.33 452.87 Norfolk -0.78 12.98 476.93-1.31 12.33 452.87 Trenton -1.10 12.66 465.18-1.30 12.34 453.23 Winchester -1.10 12.66 465.18-1.19 12.45 457.28 North Gower N/A -1.15 12.49 458.75 Huron FOB -0.55 13.21 485.38-1.10 12.54 460.58 Kent FOB -0.83 12.93 475.10-1.36 12.28 451.03 Lambton FOB -0.83 12.93 475.10-1.36 12.28 451.03 Middlesex FOB-0.74 N/A N/A N/A 13.02 478.40-1.15 12.49 458.75 PROCESSORS Hamilton -0.40-0.55-0.60 N/A 13.36 490.90-0.80 12.84 471.61 Windsor -0.30-0.42 N/A N/A 13.46 494.57-0.89 12.75 468.30 Winchester -0.70 13.06 479.87-0.88 12.76 468.67 TRANSFER Hamilton -0.45 N/A N/A N/A 13.31 489.06-0.75 12.89 473.44 Pt. Stanley -0.90 12.86 472.52-1.15 12.49 458.75 Sarnia -0.62 13.14 482.81-0.73 12.91 474.18 Owen Sound N/A N/A Sorel QC -0.65 13.11 481.71-0.40 13.24 486.30 Toledo El. 0.07 13.83 508.09-0.42 13.22 485.69 Bank of Canada Noon exchange rate was 0.9688 down 0.0077 Chicago wheat closed lower. JUL11 HI 8.07 1/2 JUL11 HI 8.07 1/2 LOW 7.72 LOW 7.72 CLOSE 7.82 1/4 Down 37 1/2 CLOSE 7.82 1/4 Down 37 1/2 Minni wheat closed lower. JUL11 HI 10.54 SEP11 HI 10.14 3/4 LOW 10.17 LOW 9.80 CLOSE 10.25 Down 31 1/4 CLOSE 9.87 3/4 Down 31 GFO Cash Wheat Prices - DEL Terminal Current Crop 10 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M) Basis -0.63 -0.24 -0.68 -0.46 CAD $/bu 7.19 7.58 7.15 9.79 CAD $/tonne 264.35 278.60 262.57 359.71 Direct MarkHarvest 2010 Harvest 2011 DELIVERED BASIS DELIVERED BASIS Location SWW(C) HRW(C) SRW(C) HRS(M) SWW(C) HRW(C) SRW(C) HRS(M) ELEVATORS Brgssvll N/A N/A N/A N/A N/A -0.45 -1.25 N/A London -0.71 -0.47 -1.05 N/A -0.86 -0.57 -1.39 N/A Hensall -0.60 N/A -0.95 N/A -0.70 N/A -1.35 N/A Trenton N/A N/A N/A N/A N/A N/A -1.05 N/A Winchester N/A N/A N/A N/A N/A N/A N/A -1.05 Essex N/A N/A -0.87 N/A N/A N/A -1.40 N/A Norwich -0.60 N/A -0.95 N/A -0.70 N/A -1.35 N/A Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A Kent Bridge -0.60 N/A -0.95 N/A -0.70 N/A -1.35 N/A Chatham N/A -0.51 -1.08 N/A N/A -0.56 -1.42 N/A Brigden N/A -0.51 -1.08 N/A N/A -0.56 -1.42 N/A Palmerston N/A -0.23 -0.93 0.05 N/A -0.27 -1.24 -0.83 Mitchell -0.60 -0.40 -0.95 N/A -0.70 -0.50 -1.35 N/A Thornton N/A N/A N/A -1.66 N/A N/A N/A -2.05 North Gower N/A N/A N/A N/A N/A N/A N/A -0.85 TERMINAL Sarnia -0.52 -0.08 -0.72 N/A -0.64 -0.10 -0.94 N/A Hamilton N/A N/A -0.25 N/A N/A N/A -0.75 N/A Pt. Stanley N/A N/A -0.50 N/A N/A N/A -1.20 N/A PROCESSORS Toledo FM N/A N/A N/A N/A 0.00 0.44 -0.34 N/A Toledo El. 7.49US 7.26CA 7.59US 7.36CA GFO Contract Wheat Prices - DEL Terminal Harvest 11 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M) Basis -0.63 0.05 -0.77 -0.89 CAD $/bu 7.19 7.87 7.05 8.99 CAD $/tonne 264.35 289.28 259.01 330.42 (C)-Basis over the Chicago Board of Trade futures (M)-Basis over the Minneapolis Grain Exchange FEED GRAINS Bayport Wheat 305.00 Bayport Oats 310.00 Bayport Barley 270.00 FOB Hm Soymeal 394.96 - 398.27 DDG's FOB Srn, Wndr, Aylm 205.00 - 215.00