FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, January 25 (All Bases in CAD) Bank of Canada Noon exchange rate was 1.012 up 0.0023 Chicago corn closed slightly higher. MAR12 HI 6.37 3/4 DEC12 HI 5.68 LOW 6.25 1/2 LOW 5.58 1/2 CLOSE6.34 1/2 Up 4 1/4 CLOSE 5.63 Up 1/2 OLD CROP BASIS NEW CROP BASIS Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt ELEVATORS +MAR12+MAY12+MAY12 CK Low -0.35 6.00 236.01 -0.60 5.03 198.02 CK High -0.28 6.07 238.77 -0.55 5.08 199.99 CK Avg -0.31 -0.35 6.04 237.78 -0.59 -0.64 5.04 198.48 Essex Cty -0.35 6.00 236.01 -0.65 4.98 196.05 Mdsx Low -0.30 6.05 237.98 -0.60 5.03 198.02 Mdsx High -0.30 6.05 237.98 -0.60 5.03 198.02 Mdsx Avg -0.30 -0.34 6.05 237.98 -0.60 -0.65 5.03 198.02 Hensall -0.30 6.05 237.98 -0.58 5.06 199.01 Bruce -0.30 6.05 237.98 -0.60 5.03 198.02 Putnam -0.30 6.05 237.98 -0.60 5.03 198.02 Burford -0.30 6.05 237.98 -0.60 5.03 198.02 Port Perry -0.30 6.05 237.98 -0.60 5.03 198.02 Norfolk -0.28 6.07 238.77 -0.58 5.05 198.81 Palmerston -0.30 6.05 237.98 -0.60 5.03 198.02 Varna -0.30 6.05 237.98 -0.55 5.08 199.99 Trenton -0.05 6.30 247.82 -0.45 5.18 203.93 Winchester -0.05 6.30 247.82 -0.45 5.18 203.93 North Gower 0.00 6.35 249.79 -0.40 5.23 205.90 Huron FOB -0.20 6.15 241.92 -0.50 5.13 201.96 Kent FOB -0.28 6.07 238.77 -0.58 5.05 198.81 Lamb FOB -0.28 6.07 238.77 -0.58 5.05 198.81 Mdsx FOB -0.30 -0.25N/A N/A 6.05 237.98 -0.60 5.03 198.02 FOB SW Que 0.15 6.50 255.70 -0.25 5.38 211.80 Track 0.13 6.47 254.71N/A PROCESSORS Chat-Eth N/A N/A N/A N/A -0.55 5.08 199.99 Jhnstwn-Eth 0.20 0.20 0.20 0.25 6.55 257.67 -0.40 5.23 205.90 Aylmer-Eth N/A -0.10 -0.10 0.00 N/A Sarn-Eth 0.00 0.05 0.00 0.05 6.35 249.79N/A Cllngwd-Eth 0.10N/A N/A N/A 6.45 253.73-0.30* 5.33 209.83 London-Cas 0.00 0.00 0.00 0.10 6.35 249.79 -0.35 5.28 207.86 Pt.Colb-Cas 0.25 0.30 0.35 0.40 6.60 259.63 -0.30 5.33 209.83 Cardnl-Cas 0.35 0.40 0.35 0.40 6.70 263.57 -0.30 5.33 209.83 W O Feed 0.19 0.18 6.54 257.27 US Rep 0.70 0.69 7.05 277.35 Toledo El. 0.03 6.38 250.98 -0.43 5.20 204.56 TRANSFER Sarnia N/A N/A Pt. Stanley N/A N/A Hamilton -0.11 6.24245 1/2 -0.33 5.30208 2/3 MID SD CRN -0.31 1/2 6.031 HI SD CRN -0.28 6.06 1/2 *Wet Bid Bank of Canada Noon exchange rate was 1.012 up 0.0023 Chicago soybeans closed mixed. MAR12 HI 12.26 1/4 NOV12 HI 12.21 3/4 LOW 12.08 1/2 LOW 12.08 3/4 CLOSE12.13 1/2 Down 6 1/2 CLOSE 12.13 3/4 Up 3/4 OLD CROP NEW CROP Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt ELEVATORS +MAR1+MAR1+MAY12 CK Low -0.63 11.51 422.74-0.85 11.29 414.74 CK High -0.54 11.60 426.04-0.75 11.39 418.42 CK Average -0.60 -0.6811.54 424.02-0.79-0.9011.35 416.95 Essex Cty -0.53 11.61 426.41-0.73 11.41 419.15 Mdsx Low -0.61 11.53 423.47-0.81 11.33 416.21 Mdsx High -0.55 11.59 425.68-0.75 11.39 418.42 Mdsx Average -0.58 -0.6611.56 424.57-0.78-0.8911.36 417.32 Hensall -0.58 11.56 424.76-0.78 11.36 417.50 Bruce -0.60 11.54 423.84-0.80 11.34 416.58 Putnam -0.55 11.59 425.68-0.75 11.39 418.42 Burford -0.64 11.50 422.37-0.84 11.30 415.11 Port Perry -0.64 11.50 422.37-0.84 11.30 415.11 Norfolk -0.49 11.65 427.88-0.74 11.40 418.79 Palmerston -0.65 11.49 422.00-0.85 11.29 414.74 Varna -0.65 11.49 422.00-0.85 11.29 414.74 Trenton -0.70 11.44 420.16-0.85 11.29 414.74 Winchester -0.80 11.34 416.49-0.82 11.32 415.85 North Gower -0.75 11.39 418.33-0.77 11.37 417.68 Huron FOB -0.45 11.69 429.35-0.70 11.44 420.26 Kent FOB -0.54 11.60 426.04-0.79 11.35 416.95 Lambton FOB -0.54 11.60 426.04-0.79 11.35 416.95 Middlesex FOB-0.48-0.45 N/A N/A 11.66 428.25-0.68 11.46 420.99 PROCESSORS Hamilton -0.10-0.10-0.10-0.10 12.04 442.21-0.20 11.94 438.63 Windsor -0.30-0.25-0.25-0.34 11.84 434.86-0.50 11.64 427.60 Winchester -0.60 11.54 423.84-0.55 11.59 425.77 TRANSFER Hamilton -0.15 N/A N/A N/A 11.99 440.37-0.25 11.89 436.79 Pt. Stanley N/A N/A Sarnia N/A N/A Owen Sound N/A N/A Sorel QC -0.20 11.94 438.540.00 12.14 445.98 Toledo El. -0.21 11.92 438.12-0.59 11.55 424.47 Bank of Canada Noon exchange rate was 1.012 up 0.0023 Chicago wheat closed slightly higher. MAR12 HI 6.49 3/4 JUL12 HI 6.77 LOW 6.29 1/2 LOW 6.59 1/2 CLOSE 6.41 1/4 Up 7 3/4 CLOSE 6.71 1/4 Up 5 Minni wheat closed slightly higher. MAR12 HI 8.21 3/4 SEP12 HI 7.78 1/4 LOW 8.01 LOW 7.61 1/4 CLOSE 8.12 3/4 Up 9 CLOSE 7.70 3/4 Up 6 1/4 GFO Cash Wheat Prices - DEL Terminal Current Crop 11 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M) Basis -0.06 0.80 0.14 -0.40 CAD $/bu 6.36 7.21 6.56 7.73 CAD $/tonne 233.51 264.95 240.91 284.00 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 0.03 N/A N/A 0.55 -0.20 N/A London -0.19 0.46 -0.04 N/A N/A 0.52 -0.29 N/A Hensall -0.10 N/A -0.05 N/A 0.05 N/A -0.20 N/A Trenton N/A N/A N/A N/A N/A N/A -0.50 N/A Winchester N/A N/A N/A N/A N/A N/A N/A -0.20 Essex N/A N/A -0.11 N/A N/A N/A -0.33 N/A Norwich -0.10 N/A -0.05 N/A 0.05 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 -0.05 N/A 0.05 N/A -0.20 N/A Chatham N/A N/A N/A N/A N/A 0.58 -0.27 N/A Brigden N/A N/A N/A N/A N/A 0.58 -0.27 N/A Palmerston N/A 0.73 -0.05 -0.51 N/A 0.45 -0.26 -0.55 Varna 0.00 0.75 0.00 N/A 0.10 0.75 -0.25 N/A Mitchell -0.10 0.60 -0.05 N/A 0.05 0.65 -0.20 N/A Thornton N/A N/A N/A -0.42 N/A N/A N/A N/A North Gower N/A N/A N/A N/A N/A N/A N/A -0.15 TERMINAL Sarnia N/A N/A N/A N/A N/A N/A N/A N/A Hamilton N/A N/A 0.15 N/A N/A N/A 0.00 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 N/A 0.45N/A 0.16 1.07 0.47N/A Toledo El. 6.53US 6.58CA 6.73US 6.79CA GFO Contract Wheat Prices - DEL Terminal Harvest 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M) Basis 0.06 0.87 -0.14 0.02 CAD $/bu 6.77 7.58 6.57 7.73 CAD $/tonne 248.91 278.57 241.49 283.95 (C)-Basis over the Chicago Board of Trade futures (M)-Basis over the Minneapolis Grain Exchange FEED GRAINS Bayport Wheat 290.00 - 297.00 Bayport Oats 299.00 Bayport Barley 285.00 FOB Hm Soymeal 373.80 - 376.00 DDG's FOB Srn, Wndr, Aylm 160.00 - 178.00