FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Tue, July 12 (All Bases in CAD) Bank of Canada Noon exchange rate was 0.9668 up 0.0002 Chicago corn closed sharply higher. SEP11 HI 6.69 3/4 DEC11 HI 6.61 LOW 6.23 3/4 LOW 6.12 1/4 CLOSE6.64 Up 21 CLOSE 6.58 Up 25 1/4 OLD CROP BASIS NEW CROP BASIS Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt ELEVATORS +SEP11+DEC11+DEC11 CK Low 0.60 7.24 285.03 -0.35 6.23 245.26 CK High 0.65 7.29 286.99 -0.35 6.23 245.26 CK Avg 0.64 0.87 7.28 286.67 -0.35 -0.14 6.23 245.26 Essex Cty 0.60 7.24 285.03 -0.35 6.23 245.26 Mdsx Low 0.60 7.24 285.03 -0.35 6.23 245.26 Mdsx High 0.65 7.29 286.99 -0.35 6.23 245.26 Mdsx Avg 0.63 0.86 7.27 286.34 -0.35 -0.14 6.23 245.26 Hensall 0.65 7.29 286.99 -0.35 6.23 245.26 Bruce 0.65 7.29 286.99 -0.35 6.23 245.26 Putnam 0.65 7.29 286.99 -0.35 6.23 245.26 Princeton 0.60 7.24 285.03 -0.35 6.23 245.26 Durham 0.65 7.29 286.99 -0.40 6.18 243.30 Norfolk 0.65 7.29 286.99 -0.35 6.23 245.26 Palmerston 0.65 7.29 286.99 -0.40 6.18 243.30 Varna 0.65 7.29 286.99 -0.35 6.23 245.26 Trenton 0.85 7.49 294.87 -0.40 6.18 243.30 Winchester 0.85 7.49 294.87 -0.35 6.23 245.26 North Gower 0.65 7.29 286.99 -0.70 5.88 231.49 Huron FOB 0.75 7.39 290.93 -0.35 6.23 245.26 Kent FOB 0.65 7.29 286.99 -0.35 6.23 245.26 Lamb FOB 0.65 7.29 286.99 -0.35 6.23 245.26 Mdsx FOB 0.80 0.85 1.00N/A 7.44 292.90 -0.45 6.13 241.33 FOB SW Que 0.50 7.14 281.09 -0.35 6.23 245.26 Track 1.00 7.64 300.77N/A PROCESSORS Chat-Eth N/A 0.40 0.55 1.10 N/A Jhnstwn-Eth N/A N/A 1.25 1.30 -0.35 6.23 245.26 Aylmer-Eth 0.70 0.75 1.05 1.10 7.34 288.96 -0.45 6.13 241.33 Sarn-Eth N/A 0.85 1.10 1.25 -0.30 6.28 247.23 Cllngwd-Eth N/A N/A N/A N/A -0.55* 6.03 237.39 London-Cas N/A 0.55 1.10 1.20 -0.75 5.83 229.52 Pt.Colb-Cas N/A 0.70 1.25 1.30 -0.70 5.88 231.49 Cardnl-Cas N/A 0.65 1.20 1.30 -0.85 5.73 225.58 W O Feed 1.04 1.07 7.68 302.35 US Rep 1.20 1.23 7.84 308.65 Toledo El. 0.60 7.24 284.98 -0.39 6.19 243.80 TRANSFER Sarnia 0.60 7.24 285.03 -0.35 6.23245 1/4 Pt. Stanley 0.49 7.13 280.70 -0.46 6.12241 Hamilton 0.63 7.27286 1/5 -0.32 6.26246 4/9 MID SD CRN -0.35 6.23 HI SD CRN -0.35 6.23 *Wet Bid Bank of Canada Noon exchange rate was 0.9668 up 0.0002 Chicago soybeans closed slightly higher. NOV11 HI 13.66 NOV11 HI 13.66 LOW 13.34 1/4 LOW 13.34 1/4 CLOSE13.58 1/4 Up 11 1/4 CLOSE 13.58 1/4 Up 11 1/4 OLD CROP NEW CROP Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt ELEVATORS +NOV1+NOV1+NOV11 CK Low -0.80 12.78 469.68-1.27 12.31 452.41 CK High -0.75 12.83 471.51-1.20 12.38 454.98 CK Average -0.77 -0.3012.82 470.96-1.25-0.8112.33 453.14 Essex Cty -0.73 12.85 472.25-1.20 12.38 454.98 Mdsx Low -0.82 12.76 468.94-1.27 12.31 452.41 Mdsx High -0.75 12.83 471.51-1.24 12.34 453.51 Mdsx Average -0.79 -0.3312.79 469.92-1.25-0.8212.33 453.02 Hensall -0.75 12.83 471.51-1.31 12.28 451.12 Bruce -0.75 12.83 471.51-1.35 12.23 449.47 Putnam -0.75 12.83 471.51-1.25 12.33 453.14 Princeton -0.75 12.83 471.51-1.23 12.35 453.88 Durham -0.78 12.80 470.41-1.24 12.34 453.51 Norfolk -0.72 12.86 472.62-1.22 12.36 454.24 Palmerston -0.75 12.83 471.51-1.35 12.23 449.47 Varna -0.75 12.83 471.51-1.30 12.28 451.30 Trenton -1.20 12.38 454.98-1.28 12.30 452.04 Winchester -0.92 12.66 465.27-1.14 12.44 457.18 North Gower -1.15 12.43 456.82-1.15 12.43 456.82 Huron FOB -0.60 12.98 477.03-1.20 12.38 454.98 Kent FOB -0.77 12.81 470.78-1.27 12.31 452.41 Lambton FOB -0.77 12.81 470.78-1.27 12.31 452.41 Middlesex FOB-0.58-0.51 N/A N/A 13.00 477.76-0.93 12.65 464.90 PROCESSORS Hamilton -0.26-0.41-0.52 N/A 13.32 489.52-0.81 12.77 469.31 Windsor -0.40-0.51 N/A N/A 13.18 484.37-0.93 12.65 464.90 Winchester -0.82 12.76 468.94-1.04 12.54 460.86 TRANSFER Hamilton -0.50 N/A N/A N/A 13.08 480.70-0.75 12.83 471.51 Pt. Stanley -0.95 12.63 464.16-1.20 12.38 454.98 Sarnia -0.71 12.87 472.98-0.82 12.76 468.94 Owen Sound N/A N/A Sorel QC -0.50 13.08 480.70-0.45 13.13 482.54 Toledo El. 0.12 13.70 503.33-0.42 13.17 483.78 Bank of Canada Noon exchange rate was 0.9668 up 0.0002 Chicago wheat closed moderately higher to higher. SEP11 HI 6.76 1/4 JUL12 HI 7.55 LOW 6.15 1/4 LOW 7.20 CLOSE 6.72 Up 32 3/4 CLOSE 7.54 1/2 Up 12 1/4 Minni wheat closed mixed. SEP11 HI 8.01 SEP12 HI 8.09 1/4 LOW 7.70 LOW 7.93 CLOSE 7.93 Down 1 1/4 CLOSE 8.08 Up 9 GFO Cash Wheat Prices - DEL Terminal Current Crop 11 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M) Basis -0.13 0.40 -0.66 -0.32 CAD $/bu 6.59 7.12 6.06 7.61 CAD $/tonne 242.02 261.54 222.51 279.64 Direct MarkHarvest 2011 Harvest 2012 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 0.10 -0.90 N/A N/A -0.55 -1.55 N/A London -0.34 0.05 -0.92 N/A N/A -0.76 -1.58 N/A Hensall -0.25 N/A -0.85 N/A -0.70 N/A -1.55 N/A Trenton N/A N/A -0.70 N/A N/A N/A -1.35 N/A Winchester N/A N/A N/A -1.05 N/A N/A N/A N/A Essex N/A N/A -0.97 N/A N/A N/A -1.52 N/A Norwich -0.25 N/A -0.85 N/A -0.70 N/A -1.55 N/A Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A Kent Bridge -0.25 N/A -0.85 N/A -0.70 N/A -1.55 N/A Chatham N/A 0.15 -0.77 N/A N/A -0.62 -1.47 N/A Brigden N/A 0.15 -0.77 N/A N/A -0.62 -1.47 N/A Palmerston N/A 0.09 -0.81 -0.23 N/A -0.75 -1.47 -0.60 Varna 0.10 0.10 -0.90 N/A -0.60 -0.60 -1.60 N/A Mitchell -0.25 0.10 -0.70 N/A -0.70 -0.55 -1.55 N/A Thornton N/A N/A N/A -0.57 N/A N/A N/A N/A North Gower N/A N/A N/A -0.85 N/A N/A N/A N/A TERMINAL Sarnia -0.09 0.44 -0.53 N/A -0.68 -0.19 -1.17 N/A Hamilton N/A N/A -0.60 N/A N/A N/A -1.00 N/A Pt. Stanley N/A N/A -1.05 N/A N/A N/A -1.45 N/A PROCESSORS Toledo FM 0.01 0.74 -0.04N/A N/A N/A N/A N/A Toledo El. 6.64US 6.41CA N/A GFO Contract Wheat Prices - DEL Terminal Harvest 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M) Basis -0.63 0.24 -1.11 -0.74 CAD $/bu 6.92 7.79 6.43 7.34 CAD $/tonne 254.12 286.13 236.34 269.59 (C)-Basis over the Chicago Board of Trade futures (M)-Basis over the Minneapolis Grain Exchange FEED GRAINS Bayport Wheat 285.00 - 298.00 Bayport Oats 307.00 Bayport Barley 280.00 FOB Hm Soymeal 402.24 - 403.34 DDG's FOB Srn, Wndr, Aylm 210.00 - 225.00