FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Mon, July 18 (All Bases in CAD) Bank of Canada Noon exchange rate was 0.9615 up 0.0079 Chicago corn closed moderately lower. SEP11 HI 7.03 1/4 DEC11 HI 6.84 1/2 LOW 6.83 LOW 6.66 1/4 CLOSE6.96 1/4 Down 5 CLOSE 6.77 Down 8 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 7.56 297.72 -0.35 6.42 252.74 CK High 0.70 7.66 301.66 -0.35 6.42 252.74 CK Avg 0.68 0.95 7.64 300.68 -0.35 -0.15 6.42 252.74 Essex Cty 0.60 7.56 297.72 -0.35 6.42 252.74 Mdsx Low 0.60 7.56 297.72 -0.35 6.42 252.74 Mdsx High 0.70 7.66 301.66 -0.35 6.42 252.74 Mdsx Avg 0.67 0.94 7.63 300.35 -0.35 -0.15 6.42 252.74 Hensall 0.70 7.66 301.66 -0.35 6.42 252.74 Bruce 0.70 7.66 301.66 -0.35 6.42 252.74 Putnam 0.70 7.66 301.66 -0.35 6.42 252.74 Princeton 0.60 7.56 297.72 -0.35 6.42 252.74 Durham 0.70 7.66 301.66 -0.40 6.37 250.78 Norfolk 0.70 7.66 301.66 -0.35 6.42 252.74 Palmerston 0.70 7.66 301.66 -0.40 6.37 250.78 Varna 0.70 7.66 301.66 -0.35 6.42 252.74 Trenton 0.85 7.81 307.56 -0.35 6.42 252.74 Winchester 0.85 7.81 307.56 -0.35 6.42 252.74 North Gower 0.60 7.56 297.72 -0.65 6.12 240.93 Huron FOB 0.80 7.76 305.60 -0.35 6.42 252.74 Kent FOB 0.70 7.66 301.66 -0.35 6.42 252.74 Lamb FOB 0.70 7.66 301.66 -0.35 6.42 252.74 Mdsx FOB 0.80 0.85 1.00N/A 7.76 305.60 -0.45 6.32 248.81 FOB SW Que 0.50 7.46 293.79 -0.35 6.42 252.74 Track 1.03 7.99 314.45N/A PROCESSORS Chat-Eth N/A 0.80 0.85 1.10 N/A Jhnstwn-Eth N/A N/A 1.25 1.30 -0.35 6.42 252.74 Aylmer-Eth 0.70 0.75 1.05 1.10 7.66 301.66 -0.45 6.32 248.81 Sarn-Eth N/A 0.85 1.10 1.25 -0.30 6.47 254.71 Cllngwd-Eth N/A N/A N/A N/A -0.55* 6.22 244.87 London-Cas N/A 0.55 1.10 1.20 -0.75 6.02 237.00 Pt.Colb-Cas N/A 0.70 1.25 1.30 -0.70 6.07 238.97 Cardnl-Cas N/A 0.65 1.20 1.30 -0.85 5.92 233.06 W O Feed 1.13 1.17 8.09 318.59 US Rep 1.20 1.24 8.16 321.34 Toledo El. 0.66 7.63 300.20 -0.29 6.48 255.07 TRANSFER Sarnia 0.60 7.56 297.72 -0.35 6.42252 3/4 Pt. Stanley 0.40 7.36 289.85 -0.53 6.24245 2/3 Hamilton 0.65 7.61299 2/3 -0.53 6.24245 2/3 MID SD CRN -0.35 6.42 HI SD CRN -0.35 6.42 *Wet Bid Bank of Canada Noon exchange rate was 0.9615 up 0.0079 Chicago soybeans closed slightly lower. NOV11 HI 13.93 NOV11 HI 13.93 LOW 13.7 LOW 13.70 CLOSE13.86 1/4 Down 3/4 CLOSE 13.86 1/4 Down 3/4 OLD CROP NEW CROP Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt ELEVATORS +NOV1+NOV1+NOV11 CK Low -0.96 12.90 474.09-1.40 12.46 457.92 CK High -0.90 12.96 476.29-1.30 12.56 461.59 CK Average -0.94 -0.4012.92 474.82-1.37-0.9512.49 459.08 Essex Cty -0.87 12.99 477.39-1.31 12.55 461.23 Mdsx Low -0.97 12.89 473.72-1.53 12.33 453.14 Mdsx High -0.95 12.91 474.45-1.38 12.48 458.65 Mdsx Average -0.96 -0.4212.90 473.96-1.44-1.0212.43 456.57 Hensall -0.95 12.91 474.45-1.40 12.46 457.92 Bruce -0.95 12.91 474.45-1.40 12.46 457.92 Putnam -0.95 12.91 474.45-1.40 12.46 457.92 Princeton -0.90 12.96 476.29-1.33 12.53 460.49 Durham -0.93 12.93 475.19-1.33 12.53 460.49 Norfolk -0.89 12.97 476.66-1.53 12.33 453.14 Palmerston -0.90 12.96 476.29-1.40 12.46 457.92 Varna -0.95 12.91 474.45-1.40 12.46 457.92 Trenton -1.20 12.66 465.27-1.28 12.58 462.33 Winchester -0.90 12.96 476.29-1.12 12.74 468.21 North Gower -1.15 12.71 467.10-1.15 12.71 467.10 Huron FOB -0.80 13.06 479.96-1.25 12.61 463.43 Kent FOB -0.94 12.92 474.82-1.39 12.47 458.29 Lambton FOB -0.94 12.92 474.82-1.39 12.47 458.29 Middlesex FOB-0.79-0.75 N/A N/A 13.07 480.33-1.08 12.78 469.68 PROCESSORS Hamilton -0.26-0.55-0.60-0.77 13.60 499.81-1.01 12.85 472.25 Windsor -0.51-0.57 N/A N/A 13.35 490.62-0.99 12.87 472.98 Winchester -0.80 13.06 479.96-1.02 12.84 471.88 TRANSFER Hamilton -0.61 N/A N/A N/A 13.25 486.95-0.83 13.03 478.86 Pt. Stanley -1.05 12.81 470.78-1.26 12.60 463.06 Sarnia -0.86 13.00 477.76-0.91 12.95 475.92 Owen Sound N/A N/A Sorel QC -0.50 13.36 490.99-0.50 13.36 490.99 Toledo El. 0.12 13.98 513.60-0.42 13.45 494.03 Bank of Canada Noon exchange rate was 0.9615 up 0.0079 Chicago wheat closed slightly lower. SEP11 HI 6.97 1/4 JUL12 HI 7.87 3/4 LOW 6.76 LOW 7.71 3/4 CLOSE 6.89 1/2 Down 5 1/4 CLOSE 7.82 1/4 Down 2 Minni wheat closed slightly lower. SEP11 HI 8.29 SEP12 HI 8.33 1/4 LOW 8.06 LOW 8.26 1/2 CLOSE 8.22 1/2 Down 1 1/4 CLOSE 8.32 3/4 Down 1/4 GFO Cash Wheat Prices - DEL Terminal Current Crop 11 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M) Basis -0.13 0.35 -0.65 -0.32 CAD $/bu 6.77 7.25 6.24 7.90 CAD $/tonne 248.74 266.39 229.32 290.40 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 -0.85 N/A N/A -0.55 -1.55 N/A London -0.34 0.00 -0.82 N/A N/A -0.80 -1.57 N/A Hensall -0.25 N/A -0.85 N/A -0.70 N/A -1.55 N/A Trenton N/A N/A -0.60 N/A N/A N/A -1.55 N/A Winchester N/A N/A N/A -1.05 N/A N/A N/A N/A Essex N/A N/A -0.86 N/A N/A N/A -1.55 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 -0.10 N/A -0.85 N/A -0.70 N/A -1.55 N/A Chatham N/A 0.08 -0.79 N/A N/A -0.68 -1.53 N/A Brigden N/A 0.08 -0.79 N/A N/A -0.68 -1.53 N/A Palmerston N/A 0.04 -0.79 -0.22 N/A -0.59 -1.55 -0.60 Varna 0.10 0.10 -0.85 N/A -0.55 -0.55 -1.55 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 -0.82 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 -0.10 0.43 -0.49 N/A -0.74 -0.25 -1.17 N/A Hamilton N/A N/A -0.70 N/A N/A N/A -1.20 N/A Pt. Stanley N/A N/A -1.12 N/A N/A N/A -1.70 N/A PROCESSORS Toledo FM 0.02 0.69 0.02N/A N/A N/A N/A N/A Toledo El. 6.92US 6.64CA N/A GFO Contract Wheat Prices - DEL Terminal Harvest 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M) Basis -0.62 -0.04 -1.11 -0.73 CAD $/bu 7.20 7.78 6.72 7.59 CAD $/tonne 264.58 285.97 246.76 279.02 (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 410.40 - 412.60 DDG's FOB Srn, Wndr, Aylm 213.00 - 225.00