FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Fri, December 16 (All Bases in CAD) Bank of Canada Noon exchange rate was 1.0388 up 0.0051 Chicago corn closed slightly higher. MAR12 HI 5.87 1/2 DEC12 HI 5.51 1/4 LOW 5.77 1/2 LOW 5.41 1/2 CLOSE5.83 Up 4 CLOSE 5.48 Up 4 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 5.53 217.71 -0.55 4.93 194.09 CK High -0.25 5.58 219.67 -0.45 5.03 198.02 CK Avg -0.26 -0.49 5.57 219.35 -0.47 -0.70 5.01 197.37 Essex Cty -0.30 5.53 217.71 -0.40 5.08 199.99 Mdsx Low -0.25 5.58 219.67 -0.45 5.03 198.02 Mdsx High -0.25 5.58 219.67 -0.45 5.03 198.02 Mdsx Avg -0.25 -0.48 5.58 219.67 -0.45 -0.68 5.03 198.02 Hensall -0.25 5.58 219.67 -0.45 5.03 198.02 Bruce -0.25 5.58 219.67 -0.45 5.03 198.02 Putnam -0.25 5.58 219.67 -0.45 5.03 198.02 Burford -0.25 5.58 219.67 -0.45 5.03 198.02 Port Perry -0.30 5.53 217.71 -0.50 4.98 196.05 Norfolk -0.25 5.58 219.67 -0.45 5.03 198.02 Palmerston -0.25 5.58 219.67 -0.45 5.03 198.02 Varna -0.25 5.58 219.67 -0.45 5.03 198.02 Trenton -0.25 5.58 219.67 -0.55 4.93 194.09 Winchester -0.25 5.58 219.67 -0.45 5.03 198.02 North Gower -0.19 5.64 222.04 -0.35 5.13 201.96 Huron FOB -0.10 5.73 225.58 -0.40 5.08 199.99 Kent FOB -0.25 5.58 219.67 -0.45 5.03 198.02 Lamb FOB -0.25 5.58 219.67 -0.45 5.03 198.02 Mdsx FOB -0.35 -0.20 -0.15 -0.15 5.48 215.74 -0.45 5.03 198.02 FOB SW Que -0.05 5.78 227.55 0.05 5.53 217.71 Track 0.20 6.03 237.39N/A PROCESSORS Chat-Eth N/A N/A N/A N/A -0.50 4.98 196.05 Jhnstwn-Eth -0.25 0.25 0.30 0.35 5.58 219.67 -0.25 5.23 205.90 Aylmer-Eth -0.05 0.05 0.10 0.05 5.78 227.55 N/A Sarn-Eth 0.00 0.05 0.10 0.05 5.83 229.52N/A Cllngwd-Eth 0.15N/A N/A N/A 5.98 235.42-0.30* 5.18 203.93 London-Cas -0.05 -0.05 0.00 0.00 5.78 227.55 -0.30 5.18 203.93 Pt.Colb-Cas -0.05 0.10 0.15 0.15 5.78 227.55 -0.25 5.23 205.90 Cardnl-Cas -0.40 0.10 0.15 0.15 5.43 213.77 -0.25 5.23 205.90 W O Feed 0.19 0.15 6.02 237.00 US Rep 0.75 0.71 6.58 259.04 Toledo El. -0.06 5.77 227.06 -0.45 5.03 198.08 TRANSFER Sarnia N/A N/A Pt. Stanley N/A N/A Hamilton 0.00 5.83229 1/2 -0.20 5.28207 6/7 MID SD CRN -0.27 1/2 5.55 1/2 HI SD CRN -0.25 5.58 *Wet Bid Bank of Canada Noon exchange rate was 1.0388 up 0.0051 Chicago soybeans closed moderately higher. JAN12 HI 11.30 1/2 NOV12 HI 11.50 1/2 LOW 11.11 1/2 LOW 11.30 CLOSE11.30 Up 18 1/4 CLOSE 11.50 1/2 Up 20 1/4 OLD CROP NEW CROP Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt ELEVATORS +MAR1+MAR1+MAY12 CK Low -0.43 10.87 399.40-0.66 10.85 398.49 CK High -0.35 10.95 402.34-0.50 11.01 404.36 CK Average -0.38 -0.8310.92 401.12-0.61-1.1010.90 400.51 Essex Cty -0.19 11.11 408.22-0.40 11.11 408.04 Mdsx Low -0.41 10.89 400.14-0.61 10.90 400.32 Mdsx High -0.35 10.95 402.34-0.60 10.91 400.69 Mdsx Average -0.38 -0.8310.92 401.24-0.61-1.1010.90 400.51 Hensall -0.38 10.93 401.43-0.63 10.88 399.77 Bruce -0.35 10.95 402.34-0.60 10.91 400.69 Putnam -0.35 10.95 402.34-0.60 10.91 400.69 Burford -0.41 10.89 400.14-0.61 10.90 400.32 Port Perry -0.44 10.86 399.04-0.64 10.87 399.22 Norfolk -0.32 10.98 403.45-0.50 11.01 404.36 Palmerston -0.40 10.90 400.51-0.65 10.86 398.85 Varna -0.40 10.90 400.51-0.60 10.91 400.69 Trenton -0.45 10.85 398.67-0.55 10.96 402.53 Winchester -0.37 10.93 401.61-0.36 11.15 409.51 North Gower 0.02 11.32 415.94 N/A Huron FOB -0.25 11.05 406.02-0.50 11.01 404.36 Kent FOB -0.37 10.93 401.61-0.62 10.89 399.96 Lambton FOB -0.37 10.93 401.61-0.62 10.89 399.96 Middlesex FOB-0.04-0.25-0.25-0.20 11.26 413.73-0.50 11.01 404.36 PROCESSORS Hamilton 0.30 0.05 0.00 0.00 11.60 426.23-0.10 11.41 419.06 Windsor 0.03 0.14 -0.11-0.10 11.33 416.31-0.17 11.34 416.49 Winchester -0.30 11.00 404.18-0.29 11.22 412.08 TRANSFER Hamilton 0.50 N/A N/A N/A 11.80 433.58-0.10 11.41 419.06 Pt. Stanley N/A N/A Sarnia N/A N/A Owen Sound N/A N/A Sorel QC 0.08 11.38 418.140.25 11.76 431.92 Toledo El. -0.19 11.11 408.33-0.60 10.90 400.51 Bank of Canada Noon exchange rate was 1.0388 up 0.0051 Chicago wheat closed slightly higher. MAR12 HI 5.87 1/2 JUL12 HI 6.21 1/4 LOW 5.77 1/4 LOW 6.13 CLOSE 5.83 3/4 Up 4 1/2 CLOSE 6.20 Up 5 Minni wheat closed slightly lower. MAR12 HI 8.20 1/4 SEP12 HI 7.70 3/4 LOW 8.11 LOW 7.54 CLOSE 8.11 1/2 Down 4 1/4 CLOSE 7.57 Down 4 GFO Cash Wheat Prices - DEL Terminal Current Crop 11 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M) Basis 0.03 0.91 0.29 -0.09 CAD $/bu 5.86 6.75 6.12 8.02 CAD $/tonne 215.41 247.89 224.97 294.80 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 0.50 -0.05 N/A N/A 0.55 -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 -0.02 N/A N/A N/A -0.19 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 0.54 0.00 N/A N/A 0.61 -0.19 N/A Brigden N/A 0.54 0.00 N/A N/A 0.61 -0.19 N/A Palmerston N/A 0.84 0.02 -0.10 N/A 0.62 -0.22 -0.01 Varna 0.00 0.70 0.00 N/A 0.20 0.80 -0.25 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 -0.53 N/A N/A N/A N/A North Gower N/A N/A N/A N/A N/A N/A N/A 0.65 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 0.96 0.44N/A 0.37 1.20 0.47N/A Toledo El. 5.71US 5.94CA 6.17US 6.43CA GFO Contract Wheat Prices - DEL Terminal Harvest 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M) Basis 0.16 1.00 -0.05 0.38 CAD $/bu 6.36 7.20 6.15 7.95 CAD $/tonne 233.74 264.40 226.08 291.99 (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 354.40 - 361.01 DDG's FOB Srn, Wndr, Aylm 170.00 - 178.00