FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, December 21 (All Bases in CAD) Bank of Canada Noon exchange rate was 1.0286 up 0.0001 Chicago corn closed moderately higher. MAR12 HI 6.19 DEC12 HI 5.75 LOW 6.01 LOW 5.61 CLOSE6.16 1/2 Up 9 1/2 CLOSE 5.70 3/4 Up 7 1/4 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 5.87 230.89 -0.50 5.21 205.01 CK High -0.23 5.94 233.65 -0.45 5.26 206.98 CK Avg -0.26 -0.44 5.91 232.67 -0.46 -0.64 5.25 206.65 Essex Cty -0.25 5.92 232.86 -0.45 5.26 206.98 Mdsx Low -0.25 5.92 232.86 -0.45 5.26 206.98 Mdsx High -0.25 5.92 232.86 -0.45 5.26 206.98 Mdsx Avg -0.25 -0.43 5.92 232.86 -0.45 -0.63 5.26 206.98 Hensall -0.25 5.92 232.86 -0.45 5.26 206.98 Bruce -0.25 5.92 232.86 -0.45 5.26 206.98 Putnam -0.25 5.92 232.86 -0.45 5.26 206.98 Burford -0.25 5.92 232.86 -0.45 5.26 206.98 Port Perry -0.30 5.87 230.89 -0.50 5.21 205.01 Norfolk -0.23 5.94 233.65 -0.45 5.26 206.98 Palmerston -0.25 5.92 232.86 -0.45 5.26 206.98 Varna -0.25 5.92 232.86 -0.45 5.26 206.98 Trenton -0.20 5.97 234.83 -0.50 5.21 205.01 Winchester -0.20 5.97 234.83 -0.40 5.31 208.95 North Gower -0.42 5.75 226.17 -0.37 5.34 210.13 Huron FOB -0.10 6.07 238.77 -0.40 5.31 208.95 Kent FOB -0.23 5.94 233.65 -0.45 5.26 206.98 Lamb FOB -0.23 5.94 233.65 -0.45 5.26 206.98 Mdsx FOB -0.35 -0.20 -0.15 -0.15 5.82 228.93 -0.45 5.26 206.98 FOB SW Que -0.05 6.12 240.74 0.00 5.71 224.69 Track 0.20 6.37 250.58N/A PROCESSORS Chat-Eth N/A N/A N/A N/A -0.50 5.21 205.01 Jhnstwn-Eth N/A 0.25 0.30 0.30 -0.35 5.36 210.92 Aylmer-Eth -0.05 0.05 0.10 0.05 6.12 240.74 N/A Sarn-Eth 0.00 0.05 0.10 0.05 6.17 242.71N/A Cllngwd-Eth -0.15N/A N/A N/A 6.02 236.80-0.30* 5.41 212.88 London-Cas 0.00 0.00 0.05 0.00 6.17 242.71 -0.30 5.41 212.88 Pt.Colb-Cas 0.00 0.20 0.20 0.15 6.17 242.71 -0.25 5.46 214.85 Cardnl-Cas 0.00 0.20 0.20 0.15 6.17 242.71 -0.25 5.46 214.85 W O Feed 0.21 0.18 6.38 250.97 US Rep 0.75 0.72 6.92 272.23 Toledo El. -0.06 6.10 240.27 -0.44 5.26 207.24 TRANSFER Sarnia N/A N/A Pt. Stanley N/A N/A Hamilton -0.05 6.12240 3/4 -0.25 5.46214 6/7 MID SD CRN -0.26 1/2 5.90 HI SD CRN -0.23 5.93 1/2 *Wet Bid Bank of Canada Noon exchange rate was 1.0286 up 0.0001 Chicago soybeans closed slightly higher. JAN12 HI 11.59 NOV12 HI 11.79 3/4 LOW 11.32 1/4 LOW 11.54 1/4 CLOSE11.53 3/4 Up 9 1/4 CLOSE 11.75 1/2 Up 9 OLD CROP NEW CROP Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt ELEVATORS +MAR1+MAR1+MAY12 CK Low -0.50 11.04 405.56-0.70 11.06 406.20 CK High -0.42 11.12 408.50-0.55 11.21 411.71 CK Average -0.45 -0.7911.09 407.46-0.63-0.9911.13 408.84 Essex Cty -0.30 11.24 412.91-0.50 11.26 413.55 Mdsx Low -0.45 11.09 407.40-0.65 11.11 408.04 Mdsx High -0.44 11.10 407.76-0.65 11.11 408.04 Mdsx Average -0.45 -0.7911.09 407.58-0.65-1.0211.11 408.04 Hensall -0.43 11.11 408.31-0.65 11.11 408.04 Bruce -0.45 11.09 407.40-0.65 11.11 408.04 Putnam -0.45 11.09 407.40-0.65 11.11 408.04 Burford -0.40 11.14 409.23-0.65 11.11 408.04 Port Perry -0.47 11.07 406.66-0.68 11.08 406.94 Norfolk -0.37 11.17 410.34-0.61 11.15 409.51 Palmerston -0.40 11.14 409.23-0.65 11.11 408.04 Varna -0.40 11.14 409.23-0.60 11.16 409.88 Trenton -0.45 11.09 407.40-0.50 11.26 413.55 Winchester -0.45 11.09 407.40-0.45 11.31 415.39 North Gower -0.43 11.11 408.13-0.68 11.08 406.94 Huron FOB -0.25 11.29 414.74-0.50 11.26 413.55 Kent FOB -0.42 11.12 408.50-0.67 11.09 407.30 Lambton FOB -0.42 11.12 408.50-0.67 11.09 407.30 Middlesex FOB-0.16-0.34-0.29 N/A 11.38 418.05-0.49 11.27 413.92 PROCESSORS Hamilton 0.20 0.00 -0.05-0.05 11.74 431.28-0.15 11.61 426.41 Windsor -0.080.03 -0.11-0.05 11.46 420.99-0.27 11.49 422.00 Winchester -0.35 11.19 411.07-0.45 11.31 415.39 TRANSFER Hamilton -0.30 N/A N/A N/A 11.24 412.91-0.10 11.66 428.25 Pt. Stanley N/A N/A Sarnia N/A N/A Owen Sound N/A N/A Sorel QC 0.00 11.54 423.930.25 12.01 441.11 Toledo El. -0.19 11.35 417.12-0.60 11.16 409.95 Bank of Canada Noon exchange rate was 1.0286 up 0.0001 Chicago wheat closed slightly higher. MAR12 HI 6.18 JUL12 HI 6.53 1/4 LOW 6.00 LOW 6.36 1/4 CLOSE 6.17 Up 9 1/4 CLOSE 6.52 1/4 Up 8 1/2 Minni wheat closed narrowly mixed. MAR12 HI 8.42 1/2 SEP12 HI 7.82 1/2 LOW 8.31 LOW 7.75 1/2 CLOSE 8.41 3/4 Up 2 1/2 CLOSE 7.80 Down 1 1/4 GFO Cash Wheat Prices - DEL Terminal Current Crop 11 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M) Basis -0.02 0.85 0.23 -0.16 CAD $/bu 6.15 7.02 6.40 8.26 CAD $/tonne 225.86 258.02 235.32 303.33 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 0.55 0.00 N/A N/A 0.60 -0.20 N/A London -0.13 0.59 -0.03 N/A N/A N/A -0.22 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 -0.40 N/A Winchester N/A N/A N/A N/A N/A N/A N/A -0.20 Essex N/A N/A -0.12 N/A N/A N/A -0.24 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 0.52 -0.02 N/A N/A 0.66 -0.21 N/A Brigden N/A 0.52 -0.02 N/A N/A 0.66 -0.21 N/A Palmerston N/A 0.84 0.01 -0.16 N/A 0.61 -0.22 -0.07 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 0.09 TERMINAL Sarnia N/A N/A N/A N/A N/A N/A N/A N/A Hamilton N/A N/A 0.40 N/A N/A N/A -0.25 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 0.90 0.49N/A 0.31 1.23 0.51N/A Toledo El. 6.09US 6.27CA 6.49US 6.69CA GFO Contract Wheat Prices - DEL Terminal Harvest 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M) Basis 0.10 0.92 -0.11 0.29 CAD $/bu 6.62 7.45 6.42 8.09 CAD $/tonne 243.34 273.65 235.76 297.42 (C)-Basis over the Chicago Board of Trade futures (M)-Basis over the Minneapolis Grain Exchange FEED GRAINS Bayport Wheat 280.00 - 295.00 Bayport Oats 310.00 Bayport Barley 280.00 FOB Hm Soymeal 364.65 - 372.37 DDG's FOB Srn, Wndr, Aylm 170.00 - 178.00