FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Mon, July 25 (All Bases in CAD) Bank of Canada Noon exchange rate was 0.9449 down 0.0053 Chicago corn closed lower. SEP11 HI 6.83 3/4 DEC11 HI 6.79 LOW 6.71 3/4 LOW 6.66 1/4 CLOSE6.78 3/4 Down 11 1/4 CLOSE 6.74 1/2 Down 11 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 7.44 292.80 -0.35 6.40 251.76 CK High 0.75 7.54 296.74 -0.30 6.45 253.73 CK Avg 0.73 1.09 7.52 296.08 -0.31 0.01 6.44 253.40 Essex Cty 0.65 7.44 292.80 -0.35 6.40 251.76 Mdsx Low 0.65 7.44 292.80 -0.35 6.40 251.76 Mdsx High 0.75 7.54 296.74 -0.30 6.45 253.73 Mdsx Avg 0.72 1.08 7.50 295.43 -0.32 0.00 6.43 253.07 Hensall 0.73 7.51 295.75 -0.30 6.45 253.73 Bruce 0.75 7.54 296.74 -0.30 6.45 253.73 Putnam 0.75 7.54 296.74 -0.30 6.45 253.73 Princeton 0.65 7.44 292.80 -0.35 6.40 251.76 Durham 0.75 7.54 296.74 -0.35 6.40 251.76 Norfolk 0.75 7.54 296.74 -0.30 6.45 253.73 Palmerston 0.70 7.49 294.77 -0.35 6.40 251.76 Varna 0.70 7.49 294.77 -0.35 6.40 251.76 Trenton 0.90 7.69 302.64 -0.35 6.40 251.76 Winchester 1.10 7.89 310.52 -0.45 6.30 247.82 North Gower 0.60 7.39 290.83 -0.65 6.10 239.95 Huron FOB 0.50 7.29 286.90 -0.20 6.55 257.67 Kent FOB 0.75 7.54 296.74 -0.30 6.45 253.73 Lamb FOB 0.75 7.54 296.74 -0.30 6.45 253.73 Mdsx FOB 0.85 0.90N/A N/A 7.64 300.68 -0.30 6.45 253.73 FOB SW Que 0.35 7.14 280.99 -0.60 6.15 241.92 Track 1.20 7.99 314.45N/A PROCESSORS Chat-Eth N/A 0.80 1.15 1.25 N/A Jhnstwn-Eth N/A N/A 1.25 1.30 -0.35 6.40 251.76 Aylmer-Eth N/A 0.75 1.05 1.10 -0.45 6.30 247.82 Sarn-Eth N/A 0.85 1.10 1.25 -0.30 6.45 253.73 Cllngwd-Eth N/A N/A N/A N/A -0.55* 6.20 243.89 London-Cas N/A 0.55 1.10 1.20 -0.75 6.00 236.01 Pt.Colb-Cas N/A 0.70 1.25 1.30 -0.70 6.05 237.98 Cardnl-Cas N/A 0.65 1.20 1.30 -0.85 5.90 232.08 W O Feed 1.12 1.18 7.91 311.46 US Rep 1.20 1.25 7.99 314.45 Toledo El. 0.56 7.35 289.21 -0.25 6.50 255.79 TRANSFER Sarnia 0.65 7.44 292.80 -0.35 6.40251 3/4 Pt. Stanley 0.57 7.36 289.65 -0.55 6.20243 8/9 Hamilton 0.95 7.74304 3/5 -0.55 6.20243 8/9 MID SD CRN -0.32 1/2 6.42 HI SD CRN -0.30 6.44 1/2 *Wet Bid Bank of Canada Noon exchange rate was 0.9449 down 0.0053 Chicago soybeans closed moderately lower. NOV11 HI 13.80 1/2 NOV11 HI 13.80 1/2 LOW 13.58 1/4 LOW 13.58 1/4 CLOSE13.72 Down 16 1/4 CLOSE 13.72 Down 16 1/4 OLD CROP NEW CROP Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt ELEVATORS +NOV1+NOV1+NOV11 CK Low -1.18 12.54 460.77-1.56 12.16 446.80 CK High -1.10 12.62 463.71-1.47 12.25 450.11 CK Average -1.12 -0.3912.60 462.85-1.53-0.8812.19 447.97 Essex Cty -1.13 12.59 462.60-1.55 12.17 447.17 Mdsx Low -1.18 12.54 460.77-1.55 12.17 447.17 Mdsx High -1.10 12.62 463.71-1.50 12.22 449.01 Mdsx Average -1.15 -0.4212.57 461.75-1.52-0.8712.20 448.27 Hensall -1.10 12.62 463.71-1.53 12.20 448.09 Bruce -1.10 12.62 463.71-1.50 12.22 449.01 Putnam -1.10 12.62 463.71-1.50 12.22 449.01 Princeton -1.14 12.58 462.24-1.55 12.17 447.17 Durham -1.14 12.58 462.24-1.51 12.21 448.64 Norfolk -1.08 12.64 464.44-1.51 12.21 448.64 Palmerston -1.10 12.62 463.71-1.55 12.17 447.17 Varna -1.10 12.62 463.71-1.55 12.17 447.17 Trenton -1.30 12.42 456.36-1.20 12.52 460.03 Winchester -1.11 12.61 463.34-1.28 12.44 457.09 North Gower -1.15 12.57 461.87-1.15 12.57 461.87 Huron FOB -0.95 12.77 469.22-1.40 12.32 452.68 Kent FOB -1.13 12.59 462.60-1.56 12.16 446.80 Lambton FOB -1.13 12.59 462.60-1.56 12.16 446.80 Middlesex FOB-1.01-0.93 N/A N/A 12.71 467.01-1.25 12.47 458.19 PROCESSORS Hamilton -0.64-0.69-0.75 N/A 13.08 480.61-1.14 12.58 462.24 Windsor -0.72-0.76 N/A N/A 13.00 477.67-1.17 12.55 461.13 Winchester -1.12 12.60 462.97-1.33 12.39 455.25 TRANSFER Hamilton -0.75 N/A N/A N/A 12.97 476.57-1.00 12.72 467.38 Pt. Stanley -1.20 12.52 460.03-1.45 12.27 450.85 Sarnia -1.15 12.57 461.87-1.13 12.59 462.60 Owen Sound N/A N/A Sorel QC -0.75 12.97 476.57-0.75 12.97 476.57 Toledo El. 0.02 13.74 504.82-0.41 13.31 489.07 Bank of Canada Noon exchange rate was 0.9449 down 0.0053 Chicago wheat closed slightly lower. SEP11 HI 6.95 1/4 JUL12 HI 7.92 1/2 LOW 6.71 1/2 LOW 7.75 1/2 CLOSE 6.88 1/2 Down 3 3/4 CLOSE 7.89 1/2 Down 4 Minni wheat closed slightly lower. SEP11 HI 8.35 3/4 SEP12 HI 8.42 LOW 8.18 1/2 LOW 8.32 1/2 CLOSE 8.30 3/4 Down 7 3/4 CLOSE 8.42 Down 2 3/4 GFO Cash Wheat Prices - DEL Terminal Current Crop 11 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M) Basis -0.22 0.34 -0.60 -0.35 CAD $/bu 6.66 7.23 6.28 7.96 CAD $/tonne 244.76 265.64 230.84 292.51 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 -0.33 0.01 -0.89 N/A N/A -0.81 -1.66 N/A Hensall -0.30 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 -0.86 N/A N/A N/A -1.60 N/A Norwich -0.30 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 -0.30 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 -0.30 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 -0.08 0.58 -0.08N/A N/A N/A N/A N/A Toledo El. 6.91US 6.54CA N/A GFO Contract Wheat Prices - DEL Terminal Harvest 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M) Basis -0.75 -0.18 -1.23 -0.78 CAD $/bu 7.14 7.71 6.66 7.64 CAD $/tonne 262.38 283.38 244.88 280.76 (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 401.03 - 403.23 DDG's FOB Srn, Wndr, Aylm 215.00 - 225.00