FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, July 20 (All Bases in CAD) Bank of Canada Noon exchange rate was 0.9479 down 0.0027 Chicago corn closed moderately lower to lower. SEP11 HI 7.08 3/4 DEC11 HI 6.98 LOW 6.85 3/4 LOW 6.75 1/4 CLOSE6.88 Down 10 CLOSE 6.77 3/4 Down 9 1/2 OLD CROP BASIS NEW CROP BASIS Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt ELEVATORS +SEP11+DEC11+DEC11 CK Low 0.65 7.53 296.44 -0.35 6.43 253.04 CK High 0.70 7.58 298.41 -0.30 6.48 255.01 CK Avg 0.69 1.04 7.57 298.08 -0.33 -0.16 6.44 253.70 Essex Cty 0.65 7.53 296.44 -0.35 6.43 253.04 Mdsx Low 0.65 7.53 296.44 -0.35 6.43 253.04 Mdsx High 0.70 7.58 298.41 -0.30 6.48 255.01 Mdsx Avg 0.68 1.04 7.56 297.76 -0.33 -0.16 6.44 253.70 Hensall 0.70 7.58 298.41 -0.35 6.43 253.04 Bruce 0.70 7.58 298.41 -0.35 6.43 253.04 Putnam 0.70 7.58 298.41 -0.30 6.48 255.01 Princeton 0.65 7.53 296.44 -0.35 6.43 253.04 Durham 0.70 7.58 298.41 -0.35 6.43 253.04 Norfolk 0.70 7.58 298.41 -0.30 6.48 255.01 Palmerston 0.70 7.58 298.41 -0.35 6.43 253.04 Varna 0.70 7.58 298.41 -0.35 6.43 253.04 Trenton 0.85 7.73 304.32 -0.35 6.43 253.04 Winchester 0.85 7.73 304.32 -0.35 6.43 253.04 North Gower 0.60 7.48 294.47 -0.65 6.13 241.23 Huron FOB 0.50 7.38 290.54 -0.25 6.53 256.98 Kent FOB 0.70 7.58 298.41 -0.30 6.48 255.01 Lamb FOB 0.70 7.58 298.41 -0.30 6.48 255.01 Mdsx FOB 0.80 0.85N/A N/A 7.68 302.35 -0.35 6.43 253.04 FOB SW Que 0.50 7.38 290.54 -0.35 6.43 253.04 Track 1.18 8.06 317.11N/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 6.43 253.04 Aylmer-Eth 0.70 0.75 1.05 1.10 7.58 298.41 -0.45 6.33 249.10 Sarn-Eth N/A 0.85 1.10 1.25 -0.30 6.48 255.01 Cllngwd-Eth N/A N/A N/A N/A -0.55* 6.23 245.17 London-Cas N/A 0.55 1.10 1.20 -0.75 6.03 237.29 Pt.Colb-Cas N/A 0.70 1.25 1.30 -0.70 6.08 239.26 Cardnl-Cas N/A 0.65 1.20 1.30 -0.85 5.93 233.36 W O Feed 1.12 1.17 8.00 314.95 US Rep 1.35 1.40 8.23 324.00 Toledo El. N/A -0.25 6.52 256.84 TRANSFER Sarnia 0.65 7.53 296.44 -0.35 6.43253 Pt. Stanley 0.37 7.25 285.42 -0.55 6.23245 1/6 Hamilton 0.60 7.48294 1/2 -0.35 6.43253 MID SD CRN -0.32 1/2 6.45 1/4 HI SD CRN -0.30 6.47 3/4 *Wet Bid Bank of Canada Noon exchange rate was 0.9479 down 0.0027 Chicago soybeans closed slightly higher. NOV11 HI 13.94 1/4 NOV11 HI 13.94 1/4 LOW 13.78 1/2 LOW 13.78 1/2 CLOSE13.84 Up 2 CLOSE 13.84 Up 2 OLD CROP NEW CROP Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt ELEVATORS +NOV1+NOV1+NOV11 CK Low -1.15 12.69 466.28-1.55 12.29 451.58 CK High -1.08 12.76 468.85-1.46 12.38 454.89 CK Average -1.11 -0.4012.73 467.75-1.51-1.1612.33 452.99 Essex Cty -1.10 12.74 468.11-1.47 12.37 454.52 Mdsx Low -1.15 12.69 466.28-1.55 12.29 451.58 Mdsx High -1.10 12.74 468.11-1.49 12.35 453.78 Mdsx Average -1.13 -0.4212.71 467.01-1.51-1.1612.33 452.93 Hensall -1.10 12.74 468.11-1.55 12.29 451.58 Bruce -1.10 12.74 468.11-1.55 12.29 451.58 Putnam -1.10 12.74 468.11-1.55 12.29 451.58 Princeton -1.11 12.73 467.75-1.47 12.37 454.52 Durham -1.11 12.73 467.75-1.49 12.35 453.78 Norfolk -1.06 12.78 469.58-1.69 12.15 446.44 Palmerston -1.10 12.74 468.11-1.55 12.29 451.58 Varna -1.03 12.81 470.69-1.05 12.79 469.95 Trenton -1.35 12.49 458.93-1.40 12.44 457.09 Winchester -1.11 12.73 467.75-1.28 12.56 461.50 North Gower -1.15 12.69 466.28-1.15 12.69 466.28 Huron FOB -0.95 12.89 473.63-1.40 12.44 457.09 Kent FOB -1.11 12.73 467.75-1.55 12.29 451.58 Lambton FOB -1.11 12.73 467.75-1.55 12.29 451.58 Middlesex FOB-0.98-0.91 N/A N/A 12.86 472.52-1.23 12.61 463.34 PROCESSORS Hamilton -0.62-0.67-0.71 N/A 13.22 485.75-1.11 12.73 467.75 Windsor -0.71-0.74 N/A N/A 13.13 482.44-1.16 12.68 465.91 Winchester -1.25 12.59 462.60-1.30 12.54 460.77 TRANSFER Hamilton -0.70 N/A N/A N/A 13.14 482.81-0.90 12.94 475.46 Pt. Stanley -1.15 12.69 466.28-1.35 12.49 458.93 Sarnia -1.11 12.73 467.75-1.08 12.76 468.85 Owen Sound N/A N/A Sorel QC -0.50 13.34 490.16-0.50 13.34 490.16 Toledo El. 0.11 13.95 512.72-0.42 13.42 493.13 Bank of Canada Noon exchange rate was 0.9479 down 0.0027 Chicago wheat closed slightly to moderately higher. SEP11 HI 7.07 JUL12 HI 8.01 3/4 LOW 6.92 1/2 LOW 7.84 1/2 CLOSE 6.97 Up 3 1/2 CLOSE 7.99 3/4 Up 14 Minni wheat closed moderately higher. SEP11 HI 8.55 SEP12 HI 8.57 1/4 LOW 8.33 LOW 8.49 3/4 CLOSE 8.52 3/4 Up 19 3/4 CLOSE 8.57 Up 16 1/2 GFO Cash Wheat Prices - DEL Terminal Current Crop 11 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M) Basis -0.22 0.31 -0.64 -0.44 CAD $/bu 6.75 7.28 6.33 8.09 CAD $/tonne 248.19 267.36 232.50 297.25 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 0.00 -0.90 N/A N/A -0.55 -1.55 N/A London -0.31 -0.08 -0.88 N/A N/A -0.79 -1.65 N/A Hensall -0.25 N/A -0.90 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 -0.90 N/A N/A N/A -1.64 N/A Norwich -0.25 N/A -0.90 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 0.00 N/A -0.90 N/A -0.70 N/A -1.55 N/A Chatham N/A 0.01 -0.86 N/A N/A -0.76 -1.61 N/A Brigden N/A 0.01 -0.86 N/A N/A -0.76 -1.61 N/A Palmerston N/A 0.02 -0.88 -0.33 N/A -0.69 -1.54 -0.40 Varna 0.10 0.10 -0.85 N/A -0.55 -0.55 -1.55 N/A Mitchell -0.25 0.00 -0.75 N/A -0.70 -0.55 -1.55 N/A Thornton N/A N/A N/A -1.09 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 -0.21 0.36 -0.59 N/A -0.84 -0.36 -1.27 N/A Hamilton N/A N/A -0.60 N/A N/A N/A -1.25 N/A Pt. Stanley N/A N/A -1.00 N/A N/A N/A -1.70 N/A PROCESSORS Toledo FM -0.07 0.59 -0.07N/A N/A N/A N/A N/A Toledo El. 6.99US 6.63CA N/A GFO Contract Wheat Prices - DEL Terminal Harvest 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M) Basis -0.59 -0.01 -1.08 -0.70 CAD $/bu 7.40 7.99 6.92 7.87 CAD $/tonne 272.09 293.57 254.18 289.01 (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 407.75 - 409.96 DDG's FOB Srn, Wndr, Aylm 215.00 - 225.00