FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, July 28 (All Bases in CAD) Bank of Canada Noon exchange rate was 0.9484 up 0.0010 Chicago corn closed moderately lower. SEP11 HI 6.90 1/2 DEC11 HI 6.92 3/4 LOW 6.80 LOW 6.82 1/2 CLOSE6.82 1/4 Down 9 1/4 CLOSE 6.86 1/4 Down 5 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 0.65 7.47 294.18 -0.30 6.56 258.35 CK High 0.80 7.62 300.08 -0.30 6.56 258.35 CK Avg 0.78 1.10 7.60 299.10 -0.30 0.00 6.56 258.35 Essex Cty 0.65 7.47 294.18 -0.30 6.56 258.35 Mdsx Low 0.65 7.47 294.18 -0.30 6.56 258.35 Mdsx High 0.80 7.62 300.08 -0.30 6.56 258.35 Mdsx Avg 0.75 1.08 7.57 298.12 -0.30 0.00 6.56 258.35 Hensall 0.80 7.62 300.08 -0.30 6.56 258.35 Bruce 0.80 7.62 300.08 -0.30 6.56 258.35 Putnam 0.80 7.62 300.08 -0.30 6.56 258.35 Princeton 0.65 7.47 294.18 -0.30 6.56 258.35 Durham 0.80 7.62 300.08 -0.35 6.51 256.39 Norfolk 0.80 7.62 300.08 -0.30 6.56 258.35 Palmerston 0.75 7.57 298.12 -0.30 6.56 258.35 Varna 0.80 7.62 300.08 -0.30 6.56 258.35 Trenton 0.90 7.72 304.02 -0.35 6.51 256.39 Winchester 1.10 7.92 311.90 -0.35 6.51 256.39 North Gower 0.65 7.47 294.18 -0.65 6.21 244.58 Huron FOB 0.80 7.62 300.08 -0.30 6.56 258.35 Kent FOB 0.80 7.62 300.08 -0.30 6.56 258.35 Lamb FOB 0.80 7.62 300.08 -0.30 6.56 258.35 Mdsx FOB 0.80 0.90N/A N/A 7.62 300.08 -0.35 6.51 256.39 FOB SW Que 0.40 7.22 284.34 -0.60 6.26 246.54 Track 1.25 8.07 317.80N/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 6.51 256.39 Aylmer-Eth N/A 0.95 1.05 1.10 -0.35 6.51 256.39 Sarn-Eth N/A 0.85 1.10 1.25 -0.30 6.56 258.35 Cllngwd-Eth N/A N/A N/A N/A -0.55* 6.31 248.51 London-Cas N/A 0.55 1.10 1.20 -0.75 6.11 240.64 Pt.Colb-Cas N/A 0.70 1.25 1.30 -0.70 6.16 242.61 Cardnl-Cas N/A 0.65 1.20 1.30 -0.85 6.01 236.70 W O Feed 1.19 1.24 8.01 315.44 US Rep 1.30 1.35 8.12 319.77 Toledo El. 0.56 7.38 290.70 -0.23 6.63 261.13 TRANSFER Sarnia 0.65 7.47 294.18 -0.30 6.56258 1/3 Pt. Stanley 0.75 7.57 298.12 -0.52 6.34249 2/3 Hamilton N/A -0.38 6.48255 1/5 MID SD CRN -0.30 6.56 1/4 HI SD CRN -0.30 6.56 1/4 *Wet Bid Bank of Canada Noon exchange rate was 0.9484 up 0.0010 Chicago soybeans closed slightly lower. NOV11 HI 13.85 NOV11 HI 13.85 LOW 13.71 LOW 13.71 CLOSE13.71 1/2 Down 9 CLOSE 13.71 1/2 Down 9 OLD CROP NEW CROP Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt ELEVATORS +NOV1+NOV1+NOV11 CK Low -1.18 12.54 460.58-1.56 12.16 446.62 CK High -1.07 12.65 464.62-1.45 12.27 450.66 CK Average -1.11 -0.4512.60 463.03-1.52-0.9212.20 448.15 Essex Cty -1.13 12.59 462.42-1.55 12.17 446.99 Mdsx Low -1.19 12.53 460.21-1.55 12.17 446.99 Mdsx High -1.10 12.62 463.52-1.49 12.23 449.19 Mdsx Average -1.16 -0.5012.56 461.44-1.53-0.9312.19 447.72 Hensall -1.10 12.62 463.52-1.55 12.17 446.99 Bruce -1.10 12.62 463.52-1.55 12.17 446.99 Putnam -1.10 12.62 463.52-1.55 12.17 446.99 Princeton -1.14 12.58 462.05-1.55 12.17 446.99 Durham -1.15 12.57 461.68-1.49 12.23 449.19 Norfolk -1.02 12.70 466.46-1.45 12.27 450.66 Palmerston -1.10 12.62 463.52-1.55 12.17 446.99 Varna -1.10 12.62 463.52-1.55 12.17 446.99 Trenton N/A -1.35 12.37 454.34 Winchester -1.29 12.43 456.54-1.29 12.43 456.54 North Gower -1.15 12.57 461.68-1.15 12.57 461.68 Huron FOB -0.95 12.77 469.03-1.40 12.32 452.50 Kent FOB -1.07 12.65 464.62-1.50 12.22 448.82 Lambton FOB -1.07 12.65 464.62-1.50 12.22 448.82 Middlesex FOB-1.00-0.89 N/A N/A 12.72 467.20-1.23 12.49 458.75 PROCESSORS Hamilton -0.58-0.63-0.67 N/A 13.14 482.63-1.07 12.65 464.62 Windsor -0.62-0.62 N/A N/A 13.10 481.16-1.11 12.61 463.15 Winchester -1.19 12.53 460.21-1.18 12.54 460.58 TRANSFER Hamilton -0.70 N/A N/A N/A 13.02 478.22-0.90 12.82 470.87 Pt. Stanley -1.15 12.57 461.68-1.35 12.37 454.34 Sarnia -1.15 12.57 461.68-1.13 12.59 462.42 Owen Sound N/A N/A Sorel QC -0.65 13.07 480.06-0.65 13.07 480.06 Toledo El. 0.02 13.73 504.64-0.41 13.30 488.83 Bank of Canada Noon exchange rate was 0.9484 up 0.0010 Chicago wheat closed slightly to moderately lower. SEP11 HI 7.14 3/4 JUL12 HI 8.08 LOW 6.92 1/4 LOW 7.91 1/4 CLOSE 6.93 1/4 Down 11 1/2 CLOSE 7.92 3/4 Down 6 3/4 Minni wheat closed slightly lower. SEP11 HI 8.62 SEP12 HI 8.60 LOW 8.45 1/4 LOW 8.45 CLOSE 8.46 3/4 Down 4 1/4 CLOSE 8.46 3/4 Down 6 1/2 GFO Cash Wheat Prices - DEL Terminal Current Crop 11 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M) Basis -0.19 0.38 -0.57 -0.31 CAD $/bu 6.74 7.31 6.36 8.15 CAD $/tonne 247.70 268.69 233.71 299.64 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 0.00 -0.90 N/A N/A -0.75 -1.65 N/A London -0.31 0.11 -0.84 N/A N/A -0.75 -1.55 N/A Hensall -0.30 N/A -0.90 N/A -0.70 N/A -1.65 N/A Trenton N/A N/A -0.75 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 -0.79 N/A N/A N/A -1.62 N/A Norwich -0.30 N/A -0.90 N/A -0.70 N/A -1.65 N/A Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A Kent Bridge -0.35 N/A -0.90 N/A -0.70 N/A -1.65 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 0.13 -0.87 -0.27 N/A -0.68 -1.54 -0.40 Varna -0.30 0.10 -0.90 N/A -0.65 -0.65 -1.65 N/A Mitchell -0.30 0.05 -0.75 N/A -0.70 -0.65 -1.65 N/A Thornton N/A N/A N/A -1.07 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 -0.18 0.39 -0.60 N/A -0.64 -0.26 -1.27 N/A Hamilton N/A N/A -0.70 N/A N/A N/A -1.30 N/A Pt. Stanley N/A N/A -1.10 N/A N/A N/A -1.75 N/A PROCESSORS Toledo FM N/A 0.62 -0.14N/A N/A N/A -0.54N/A Toledo El. 6.95US 6.62CA N/A GFO Contract Wheat Prices - DEL Terminal Harvest 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M) Basis -0.73 -0.15 -1.21 -0.75 CAD $/bu 7.20 7.77 6.72 7.72 CAD $/tonne 264.55 285.64 246.98 283.53 (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 397.17 DDG's FOB Srn, Wndr, Aylm 215.00 - 225.00