FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, December 15 (All Bases in CAD) Bank of Canada Noon exchange rate was 1.0337 down 0.0069 Chicago corn closed mixed. MAR12 HI 5.84 DEC12 HI 5.45 1/4 LOW 5.76 1/4 LOW 5.36 CLOSE5.79 Down 1 3/4 CLOSE 5.43 1/4 Up 2 3/4 OLD CROP BASIS NEW CROP BASIS Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt ELEVATORS +MAR12+MAR12+MAY12 CK Low -0.30 5.49 216.13 -0.55 4.88 192.22 CK High -0.25 5.54 218.10 -0.45 4.98 196.15 CK Avg -0.28 -0.50 5.51 216.98 -0.48 -0.69 4.95 194.84 Essex Cty -0.40 5.39 212.19 -0.45 4.98 196.15 Mdsx Low -0.30 5.49 216.13 -0.50 4.93 194.18 Mdsx High -0.25 5.54 218.10 -0.45 4.98 196.15 Mdsx Avg -0.28 -0.49 5.52 217.12 -0.48 -0.68 4.96 195.17 Hensall -0.28 5.52 217.12 -0.48 4.96 195.17 Bruce -0.30 5.49 216.13 -0.50 4.93 194.18 Putnam -0.25 5.54 218.10 -0.45 4.98 196.15 Burford -0.25 5.54 218.10 -0.45 4.98 196.15 Port Perry -0.30 5.49 216.13 -0.50 4.93 194.18 Norfolk -0.27 5.52 217.31 -0.45 4.98 196.15 Palmerston -0.25 5.54 218.10 -0.45 4.98 196.15 Varna -0.25 5.54 218.10 -0.45 4.98 196.15 Trenton -0.25 5.54 218.10 -0.55 4.88 192.22 Winchester -0.25 5.54 218.10 -0.45 4.98 196.15 North Gower -0.16 5.63 221.64 -0.30 5.13 202.06 Huron FOB -0.10 5.69 224.01 -0.40 5.03 198.12 Kent FOB -0.27 5.52 217.31 -0.45 4.98 196.15 Lamb FOB -0.27 5.52 217.31 -0.45 4.98 196.15 Mdsx FOB -0.35 -0.20 -0.15 -0.15 5.44 214.16 -0.45 4.98 196.15 FOB SW Que -0.05 5.74 225.97 0.05 5.48 215.84 Track 0.18 5.97 234.83N/A PROCESSORS Chat-Eth N/A N/A N/A N/A -0.50 4.93 194.18 Jhnstwn-Eth -0.25 0.25 0.30 0.35 5.54 218.10 -0.25 5.18 204.03 Aylmer-Eth -0.05 0.05 0.10 0.05 5.74 225.97 N/A Sarn-Eth 0.00 0.05 0.10 0.05 5.79 227.94N/A Cllngwd-Eth 0.15N/A N/A N/A 5.94 233.85-0.30* 5.13 202.06 London-Cas -0.05 -0.05 0.00 0.00 5.74 225.97 -0.30 5.13 202.06 Pt.Colb-Cas -0.05 0.10 0.15 0.15 5.74 225.97 -0.25 5.18 204.03 Cardnl-Cas -0.40 0.10 0.15 0.15 5.39 212.19 -0.25 5.18 204.03 W O Feed 0.19 0.16 5.98 235.42 US Rep 0.75 0.72 6.54 257.47 Toledo El. -0.06 5.73 225.49 -0.45 4.99 196.31 TRANSFER Sarnia N/A N/A Pt. Stanley N/A N/A Hamilton 0.00 5.79228 -0.20 5.23206 MID SD CRN -0.27 1/2 5.51 1/2 HI SD CRN -0.25 5.54 *Wet Bid Bank of Canada Noon exchange rate was 1.0337 down 0.0069 Chicago soybeans closed slightly to moderately higher. JAN12 HI 11.14 NOV12 HI 11.32 LOW 11.00 1/4 LOW 11.19 3/4 CLOSE11.11 3/4 Up 11 3/4 CLOSE 11.30 1/4 Up 8 3/4 OLD CROP NEW CROP Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt ELEVATORS +MAR1+MAR1+MAY12 CK Low -0.43 10.69 392.70-0.69 10.61 389.94 CK High -0.30 10.82 397.48-0.50 10.80 396.92 CK Average -0.39 -0.8110.73 394.23-0.62-1.0410.69 392.64 Essex Cty -0.24 10.88 399.68-0.44 10.86 399.13 Mdsx Low -0.41 10.71 393.43-0.65 10.65 391.41 Mdsx High -0.40 10.72 393.80-0.61 10.69 392.88 Mdsx Average -0.41 -0.8210.71 393.62-0.63-1.0510.67 392.15 Hensall -0.40 10.72 393.80-0.65 10.65 391.41 Bruce -0.40 10.72 393.80-0.65 10.65 391.41 Putnam -0.40 10.72 393.80-0.65 10.65 391.41 Burford -0.41 10.71 393.43-0.61 10.69 392.88 Port Perry -0.44 10.68 392.33-0.64 10.66 391.78 Norfolk -0.35 10.77 395.64-0.59 10.71 393.62 Palmerston -0.35 10.77 395.64-0.60 10.70 393.25 Varna -0.40 10.72 393.80-0.60 10.70 393.25 Trenton -0.45 10.67 391.96-0.55 10.75 395.09 Winchester -0.40 10.72 393.80-0.39 10.91 400.97 North Gower 0.19 11.31 415.48 N/A Huron FOB -0.25 10.87 399.31-0.50 10.80 396.92 Kent FOB -0.40 10.72 393.80-0.69 10.61 389.94 Lambton FOB -0.40 10.72 393.80-0.69 10.61 389.94 Middlesex FOB0.01 -0.25-0.25-0.20 11.13 408.87-0.50 10.80 396.92 PROCESSORS Hamilton 0.25 0.00 -0.05-0.05 11.37 417.68-0.15 11.15 409.78 Windsor -0.010.10 -0.15-0.21 11.11 408.13-0.21 11.09 407.58 Winchester -0.24 10.88 399.68-0.21 11.09 407.58 TRANSFER Hamilton 0.50 N/A N/A N/A 11.62 426.87-0.10 11.20 411.62 Pt. Stanley N/A N/A Sarnia N/A N/A Owen Sound N/A N/A Sorel QC 0.08 11.20 411.440.25 11.55 424.48 Toledo El. -0.19 10.93 401.64-0.60 10.70 393.19 Bank of Canada Noon exchange rate was 1.0337 down 0.0069 Chicago wheat closed slightly lower to steady. MAR12 HI 5.88 JUL12 HI 6.21 1/4 LOW 5.77 1/4 LOW 6.13 CLOSE 5.79 1/4 Down 1 1/2 CLOSE 6.15 Unchanged Minni wheat closed slightly lower to steady. MAR12 HI 8.23 SEP12 HI 7.68 1/2 LOW 8.14 1/2 LOW 7.61 CLOSE 8.15 3/4 Unchanged CLOSE 7.61 Down 1/2 GFO Cash Wheat Prices - DEL Terminal Current Crop 11 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M) Basis 0.01 0.89 0.27 -0.11 CAD $/bu 5.80 6.68 6.06 8.05 CAD $/tonne 213.21 245.61 222.74 295.75 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 0.60 0.00 N/A N/A 0.60 -0.20 N/A London -0.11 0.62 0.00 N/A N/A 0.58 -0.20 N/A Hensall -0.10 N/A 0.00 N/A 0.00 N/A -0.20 N/A Trenton N/A N/A N/A N/A N/A N/A -0.70 N/A Winchester N/A N/A N/A N/A N/A N/A N/A -0.30 Essex N/A N/A -0.03 N/A N/A N/A -0.21 N/A Norwich -0.10 N/A 0.00 N/A 0.00 N/A -0.20 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 0.00 N/A 0.00 N/A -0.20 N/A Chatham N/A 0.45 -0.06 N/A N/A 0.55 -0.26 N/A Brigden N/A 0.45 -0.06 N/A N/A 0.55 -0.26 N/A Palmerston N/A 0.84 0.02 -0.10 N/A 0.62 -0.20 -0.01 Varna 0.05 0.70 0.05 N/A 0.20 0.80 -0.20 N/A Mitchell -0.10 0.60 0.00 N/A 0.00 0.70 -0.20 N/A Thornton N/A N/A N/A -0.64 N/A N/A N/A N/A North Gower N/A N/A N/A N/A N/A N/A N/A 0.58 TERMINAL Sarnia N/A N/A N/A N/A N/A N/A N/A N/A Hamilton N/A N/A 0.38 N/A N/A N/A -0.55 N/A Pt. Stanley N/A N/A N/A N/A N/A N/A N/A N/A PROCESSORS Toledo FM N/A 0.94 0.43N/A 0.33 1.16 0.44N/A Toledo El. 5.66US 5.88CA 6.12US 6.35CA GFO Contract Wheat Prices - DEL Terminal Harvest 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M) Basis 0.13 0.96 -0.08 0.34 CAD $/bu 6.28 7.11 6.07 7.95 CAD $/tonne 230.60 261.09 222.98 291.97 (C)-Basis over the Chicago Board of Trade futures (M)-Basis over the Minneapolis Grain Exchange FEED GRAINS Bayport Wheat 285.00 - 295.00 Bayport Oats 310.00 Bayport Barley 280.00 FOB Hm Soymeal 346.46 - 353.08 DDG's FOB Srn, Wndr, Aylm 170.00 - 178.00