FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Fri, December 23 (All Bases in CAD) Bank of Canada Noon exchange rate was 1.0208 down 0.0006 Chicago corn closed slightly higher. MAR12 HI 6.21 3/4 DEC12 HI 5.71 1/4 LOW 6.14 1/4 LOW 5.65 3/4 CLOSE6.19 1/2 Up 2 CLOSE 5.69 Up 2 1/2 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 5.90 232.08 -0.50 5.19 204.32 CK High -0.28 5.92 232.86 -0.50 5.19 204.32 CK Avg -0.30 -0.43 5.90 232.21 -0.50 -0.63 5.19 204.32 Essex Cty -0.30 5.90 232.08 -0.50 5.19 204.32 Mdsx Low -0.30 5.90 232.08 -0.50 5.19 204.32 Mdsx High -0.30 5.90 232.08 -0.50 5.19 204.32 Mdsx Avg -0.30 -0.43 5.90 232.08 -0.50 -0.63 5.19 204.32 Hensall -0.28 5.92 233.06 -0.48 5.22 205.31 Bruce -0.30 5.90 232.08 -0.45 5.24 206.29 Putnam -0.25 5.95 234.04 -0.45 5.24 206.29 Burford -0.30 5.90 232.08 -0.50 5.19 204.32 Port Perry -0.35 5.85 230.11 -0.55 5.14 202.35 Norfolk -0.28 5.92 232.86 -0.50 5.19 204.32 Palmerston -0.25 5.95 234.04 -0.45 5.24 206.29 Varna -0.25 5.95 234.04 -0.45 5.24 206.29 Trenton -0.15 6.05 237.98 -0.50 5.19 204.32 Winchester N/A N/A North Gower -0.42 5.78 227.35 -0.44 5.25 206.68 Huron FOB -0.10 6.10 239.95 -0.40 5.29 208.26 Kent FOB -0.28 5.92 232.86 -0.50 5.19 204.32 Lamb FOB -0.28 5.92 232.86 -0.50 5.19 204.32 Mdsx FOB -0.30 -0.30 -0.20 -0.25 5.90 232.08 -0.50 5.19 204.32 FOB SW Que -0.10 6.10 239.95 -0.10 5.59 220.07 Track 0.18 6.37 250.78N/A PROCESSORS Chat-Eth N/A N/A N/A N/A -0.50 5.19 204.32 Jhnstwn-Eth N/A 0.25 0.30 0.30 -0.35 5.34 210.23 Aylmer-Eth -0.05 0.05 0.10 0.05 6.15 241.92 N/A Sarn-Eth 0.00 0.05 0.10 0.05 6.20 243.89N/A Cllngwd-Eth 0.20N/A N/A N/A 6.40 251.76-0.30* 5.39 212.19 London-Cas 0.00 0.00 0.05 0.00 6.20 243.89 -0.30 5.39 212.19 Pt.Colb-Cas 0.00 0.20 0.20 0.15 6.20 243.89 -0.25 5.44 214.16 Cardnl-Cas 0.00 0.20 0.20 0.15 6.20 243.89 -0.25 5.44 214.16 W O Feed 0.23 0.21 6.43 252.94 US Rep 0.65 0.63 6.85 269.48 Toledo El. -0.06 6.13 241.47 -0.44 5.25 206.69 TRANSFER Sarnia N/A N/A Pt. Stanley N/A N/A Hamilton 0.00 6.20243 8/9 -0.25 5.44214 1/6 MID SD CRN -0.29 5.90 1/2 HI SD CRN -0.28 5.91 1/2 *Wet Bid Bank of Canada Noon exchange rate was 1.0208 down 0.0006 Chicago soybeans closed slightly higher. JAN12 HI 11.67 1/4 NOV12 HI 11.82 3/4 LOW 11.56 1/2 LOW 11.73 1/4 CLOSE11.63 Up 3/4 CLOSE 11.79 Up 3/4 OLD CROP NEW CROP Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt ELEVATORS +MAR1+MAR1+MAY12 CK Low -0.70 10.93 401.61-0.78 11.01 404.55 CK High -0.47 11.16 410.06-0.58 11.21 411.90 CK Average -0.60 -0.8511.03 405.41-0.72-0.9911.07 406.63 Essex Cty -0.39 11.24 413.00-0.59 11.20 411.53 Mdsx Low -0.70 10.93 401.61-0.75 11.04 405.65 Mdsx High -0.64 10.99 403.81-0.74 11.05 406.02 Mdsx Average -0.67 -0.9210.96 402.71-0.75-1.0211.05 405.83 Hensall -0.60 11.03 405.28-0.73 11.07 406.57 Bruce -0.70 10.93 401.61-0.75 11.04 405.65 Putnam -0.50 11.13 408.96-0.70 11.09 407.49 Burford -0.64 10.99 403.81-0.74 11.05 406.02 Port Perry -0.67 10.96 402.71-0.77 11.02 404.92 Norfolk -0.48 11.15 409.69-0.72 11.07 406.75 Palmerston -0.40 11.23 412.63-0.65 11.14 409.32 Varna -0.40 11.23 412.63-0.60 11.19 411.16 Trenton -0.55 11.08 407.12-0.70 11.09 407.49 Winchester -0.47 11.16 410.06-0.46 11.33 416.31 North Gower -0.37 11.26 413.73-0.77 11.02 404.92 Huron FOB -0.35 11.28 414.47-0.55 11.24 413.00 Kent FOB -0.53 11.10 407.86-0.78 11.01 404.55 Lambton FOB -0.53 11.10 407.86-0.78 11.01 404.55 Middlesex FOB-0.43-0.43-0.43 N/A 11.20 411.53-0.58 11.21 411.90 PROCESSORS Hamilton -0.05-0.05-0.15-0.15 11.58 425.49-0.25 11.54 424.02 Windsor -0.16-0.06-0.20-0.15 11.47 421.45-0.36 11.43 419.98 Winchester -0.37 11.26 413.73-0.36 11.43 419.98 TRANSFER Hamilton -0.40 N/A N/A N/A 11.23 412.63-0.20 11.59 425.86 Pt. Stanley N/A N/A Sarnia N/A N/A Owen Sound N/A N/A Sorel QC -0.10 11.53 423.650.15 11.94 438.72 Toledo El. -0.18 11.45 420.57-0.59 11.20 411.41 Bank of Canada Noon exchange rate was 1.0208 down 0.0006 Chicago wheat closed slightly higher. MAR12 HI 6.27 3/4 JUL12 HI 6.60 1/4 LOW 6.18 1/2 LOW 6.52 CLOSE 6.22 Up 1/4 CLOSE 6.55 1/2 Up 1/4 Minni wheat closed narrowly mixed. MAR12 HI 8.49 3/4 SEP12 HI 7.81 3/4 LOW 8.36 1/2 LOW 7.76 1/4 CLOSE 8.44 1/2 Up 3/4 CLOSE 7.76 3/4 Down 3/4 GFO Cash Wheat Prices - DEL Terminal Current Crop 11 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M) Basis -0.07 0.80 0.19 -0.22 CAD $/bu 6.15 7.02 6.41 8.22 CAD $/tonne 226.01 257.92 235.40 302.04 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 0.00 N/A N/A 0.60 -0.20 N/A London -0.17 0.54 -0.07 N/A N/A 0.50 -0.27 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 -0.45 N/A Winchester N/A N/A N/A N/A N/A N/A N/A -0.20 Essex N/A N/A -0.17 N/A N/A N/A -0.29 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 0.50 -0.08 N/A N/A 0.64 -0.27 N/A Brigden N/A 0.50 -0.08 N/A N/A 0.64 -0.27 N/A Palmerston N/A 0.80 -0.02 -0.20 N/A 0.58 -0.25 -0.11 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 -0.58 N/A N/A N/A N/A North Gower N/A N/A N/A N/A N/A N/A N/A 0.27 TERMINAL Sarnia N/A N/A N/A N/A N/A N/A N/A N/A Hamilton N/A N/A 0.20 N/A N/A N/A -0.40 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 0.85 0.44N/A 0.25 1.17 0.46N/A Toledo El. 6.14US 6.27CA 6.53US 6.67CA GFO Contract Wheat Prices - DEL Terminal Harvest 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M) Basis 0.05 0.87 -0.16 0.23 CAD $/bu 6.60 7.42 6.40 8.00 CAD $/tonne 242.62 272.68 235.10 293.83 (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 358.04 - 367.96 DDG's FOB Srn, Wndr, Aylm 170.00 - 178.00