FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Fri, July 22 (All Bases in CAD) Bank of Canada Noon exchange rate was 0.9502 up 0.0051 Chicago corn closed higher. SEP11 HI 6.90 1/2 DEC11 HI 6.86 LOW 6.72 3/4 LOW 6.67 1/2 CLOSE6.90 Up 10 3/4 CLOSE 6.85 1/2 Up 12 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 7.55 297.23 -0.35 6.51 256.09 CK High 0.75 7.65 301.17 -0.30 6.56 258.06 CK Avg 0.73 1.07 7.63 300.51 -0.31 -0.02 6.55 257.73 Essex Cty 0.65 7.55 297.23 -0.35 6.51 256.09 Mdsx Low 0.65 7.55 297.23 -0.35 6.51 256.09 Mdsx High 0.75 7.65 301.17 -0.30 6.56 258.06 Mdsx Avg 0.72 1.06 7.62 299.85 -0.32 -0.02 6.54 257.40 Hensall 0.73 7.63 300.18 -0.30 6.56 258.06 Bruce 0.75 7.65 301.17 -0.30 6.56 258.06 Putnam 0.75 7.65 301.17 -0.30 6.56 258.06 Princeton 0.65 7.55 297.23 -0.35 6.51 256.09 Durham 0.75 7.65 301.17 -0.35 6.51 256.09 Norfolk 0.75 7.65 301.17 -0.30 6.56 258.06 Palmerston 0.70 7.60 299.20 -0.35 6.51 256.09 Varna 0.70 7.60 299.20 -0.35 6.51 256.09 Trenton 0.90 7.80 307.07 -0.35 6.51 256.09 Winchester 1.10 8.00 314.95 -0.45 6.41 252.15 North Gower 0.60 7.50 295.26 -0.65 6.21 244.28 Huron FOB 0.50 7.40 291.33 -0.20 6.66 262.00 Kent FOB 0.75 7.65 301.17 -0.30 6.56 258.06 Lamb FOB 0.75 7.65 301.17 -0.30 6.56 258.06 Mdsx FOB 0.85 0.90N/A N/A 7.75 305.10 -0.35 6.51 256.09 FOB SW Que 0.70 7.60 299.20 -0.50 6.36 250.19 Track 1.20 8.10 318.88N/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 6.51 256.09 Aylmer-Eth 0.70 0.75 1.05 1.10 7.60 299.20 -0.45 6.41 252.15 Sarn-Eth N/A 0.85 1.10 1.25 -0.30 6.56 258.06 Cllngwd-Eth N/A N/A N/A N/A -0.55* 6.31 248.22 London-Cas N/A 0.55 1.10 1.20 -0.75 6.11 240.34 Pt.Colb-Cas N/A 0.70 1.25 1.30 -0.70 6.16 242.31 Cardnl-Cas N/A 0.65 1.20 1.30 -0.75 6.11 240.34 W O Feed 1.12 1.17 8.02 315.73 US Rep 1.35 1.40 8.25 324.79 Toledo El. 0.56 7.46 293.72 -0.25 6.61 260.07 TRANSFER Sarnia 0.65 7.55 297.23 -0.35 6.51256 Pt. Stanley 0.57 7.47 294.08 -0.55 6.31248 2/9 Hamilton 0.95 7.85309 -0.55 6.31248 2/9 MID SD CRN -0.32 1/2 6.53 HI SD CRN -0.30 6.55 1/2 *Wet Bid Bank of Canada Noon exchange rate was 0.9502 up 0.0051 Chicago soybeans closed slightly higher. NOV11 HI 13.97 1/2 NOV11 HI 13.97 1/2 LOW 13.82 1/2 LOW 13.82 1/2 CLOSE13.88 1/4 Up 1/4 CLOSE 13.88 1/4 Up 1/4 OLD CROP NEW CROP Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt ELEVATORS +NOV1+NOV1+NOV11 CK Low -1.15 12.73 467.84-1.55 12.33 453.14 CK High -1.04 12.84 471.88-1.40 12.48 458.65 CK Average -1.09 -0.4112.79 469.92-1.49-0.8912.39 455.41 Essex Cty -1.10 12.78 469.68-1.47 12.41 456.08 Mdsx Low -1.14 12.74 468.21-1.50 12.38 454.98 Mdsx High -1.10 12.78 469.68-1.45 12.43 456.82 Mdsx Average -1.12 -0.4312.77 469.06-1.48-0.8912.40 455.59 Hensall -1.10 12.78 469.68-1.53 12.36 454.06 Bruce -1.10 12.78 469.68-1.50 12.38 454.98 Putnam -1.10 12.78 469.68-1.50 12.38 454.98 Princeton -1.11 12.77 469.31-1.47 12.41 456.08 Durham -1.07 12.81 470.78-1.47 12.41 456.08 Norfolk -1.04 12.84 471.88-1.56 12.32 452.77 Palmerston -1.10 12.78 469.68-1.55 12.33 453.14 Varna -1.05 12.83 471.51-1.50 12.38 454.98 Trenton -1.30 12.58 462.33-1.30 12.58 462.33 Winchester -1.22 12.66 465.27-1.43 12.45 457.55 North Gower -1.15 12.73 467.84-1.15 12.73 467.84 Huron FOB -0.95 12.93 475.19-1.40 12.48 458.65 Kent FOB -1.09 12.79 470.04-1.52 12.36 454.24 Lambton FOB -1.09 12.79 470.04-1.52 12.36 454.24 Middlesex FOB-0.94-0.86 N/A N/A 12.94 475.56-1.19 12.69 466.37 PROCESSORS Hamilton -0.59-0.64-0.68 N/A 13.29 488.42-1.08 12.80 470.41 Windsor -0.67-0.94 N/A N/A 13.21 485.48-1.12 12.76 468.94 Winchester -1.25 12.63 464.16-1.30 12.58 462.33 TRANSFER Hamilton -0.75 N/A N/A N/A 13.13 482.54-1.00 12.88 473.35 Pt. Stanley -1.20 12.68 466.00-1.45 12.43 456.82 Sarnia -1.11 12.77 469.31-1.08 12.80 470.41 Owen Sound N/A N/A Sorel QC -0.75 13.13 482.54-0.70 13.18 484.37 Toledo El. 0.07 13.95 512.54-0.41 13.47 494.97 Bank of Canada Noon exchange rate was 0.9502 up 0.0051 Chicago wheat closed moderately higher. SEP11 HI 6.94 1/4 JUL12 HI 7.94 1/4 LOW 6.69 1/4 LOW 7.75 3/4 CLOSE 6.92 1/4 Up 15 CLOSE 7.93 1/2 Up 11 1/4 Minni wheat closed slightly to moderately higher. SEP11 HI 8.41 SEP12 HI 8.46 LOW 8.22 3/4 LOW 8.27 1/2 CLOSE 8.38 1/2 Up 4 3/4 CLOSE 8.44 3/4 Up 11 1/4 GFO Cash Wheat Prices - DEL Terminal Current Crop 11 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M) Basis -0.20 0.37 -0.58 -0.32 CAD $/bu 6.72 7.29 6.34 8.07 CAD $/tonne 247.02 267.98 233.05 296.36 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 -0.29 0.04 -0.86 N/A N/A -0.77 -1.63 N/A Hensall -0.25 N/A -0.90 N/A -0.70 N/A -1.60 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 -0.83 N/A N/A N/A -1.62 N/A Norwich -0.25 N/A -0.90 N/A -0.70 N/A -1.60 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 -0.90 N/A -0.70 N/A -1.60 N/A Chatham N/A 0.15 -0.84 N/A N/A -0.76 -1.56 N/A Brigden N/A 0.15 -0.84 N/A N/A -0.76 -1.56 N/A Palmerston N/A 0.05 -0.88 -0.31 N/A -0.67 -1.52 -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 -0.60 -1.60 N/A Thornton N/A N/A N/A -0.99 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 -0.60 N/A N/A N/A -1.70 N/A PROCESSORS Toledo FM -0.06 0.61 -0.06N/A N/A N/A N/A N/A Toledo El. 6.94US 6.60CA N/A GFO Contract Wheat Prices - DEL Terminal Harvest 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M) Basis -0.72 -0.15 -1.20 -0.74 CAD $/bu 7.21 7.79 6.73 7.70 CAD $/tonne 265.02 286.12 247.43 283.04 (C)-Basis over the Chicago Board of Trade futures (M)-Basis over the Minneapolis Grain Exchange FEED GRAINS Bayport Wheat 290.00 - 300.00 Bayport Oats 300.00 Bayport Barley 275.00 FOB Hm Soymeal 408.96 - 411.17 DDG's FOB Srn, Wndr, Aylm 215.00 - 225.00