FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, January 26 (All Bases in CAD) Bank of Canada Noon exchange rate was 0.9986 down 0.0134 Chicago corn closed mixed. MAR12 HI 6.45 3/4 DEC12 HI 5.73 LOW 6.33 1/4 LOW 5.62 1/4 CLOSE6.34 1/2 Unchanged CLOSE 5.66 Up 3 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 5.06 199.20 CK High -0.30 6.05 237.98 -0.55 5.11 201.17 CK Avg -0.31 -0.32 6.04 237.65 -0.59 -0.62 5.07 199.53 Essex Cty -0.35 6.00 236.01 -0.70 4.96 195.27 Mdsx Low -0.30 6.05 237.98 -0.60 5.06 199.20 Mdsx High -0.30 6.05 237.98 -0.60 5.06 199.20 Mdsx Avg -0.30 -0.32 6.05 237.98 -0.60 -0.63 5.06 199.20 Hensall -0.30 6.05 237.98 -0.58 5.09 200.19 Bruce -0.30 6.05 237.98 -0.60 5.06 199.20 Putnam -0.30 6.05 237.98 -0.60 5.06 199.20 Burford -0.30 6.05 237.98 -0.60 5.06 199.20 Port Perry -0.30 6.05 237.98 -0.60 5.06 199.20 Norfolk -0.30 6.05 237.98 -0.60 5.06 199.20 Palmerston -0.30 6.05 237.98 -0.60 5.06 199.20 Varna -0.30 6.05 237.98 -0.55 5.11 201.17 Trenton -0.05 6.30 247.82 -0.50 5.16 203.14 Winchester -0.05 6.30 247.82 -0.45 5.21 205.11 North Gower 0.00 6.35 249.79 -0.40 5.26 207.08 Huron FOB -0.20 6.15 241.92 -0.50 5.16 203.14 Kent FOB -0.30 6.05 237.98 -0.60 5.06 199.20 Lamb FOB -0.30 6.05 237.98 -0.60 5.06 199.20 Mdsx FOB -0.30 -0.25N/A N/A 6.05 237.98 -0.60 5.06 199.20 FOB SW Que 0.05 6.40 251.76 -0.30 5.36 211.01 Track 0.15 6.50 255.70N/A PROCESSORS Chat-Eth N/A N/A N/A N/A -0.55 5.11 201.17 Jhnstwn-Eth 0.20 0.20 0.20 0.25 6.55 257.67 -0.40 5.26 207.08 Aylmer-Eth N/A -0.10 -0.10 0.00 -0.50 5.16 203.14 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* 5.36 211.01 London-Cas 0.00 0.00 0.00 0.10 6.35 249.79 -0.35 5.31 209.05 Pt.Colb-Cas 0.20 0.25 0.35 0.40 6.55 257.67 -0.30 5.36 211.01 Cardnl-Cas 0.35 0.40 0.35 0.40 6.70 263.57 -0.30 5.36 211.01 W O Feed 0.20 0.20 6.55 257.67 US Rep 0.60 0.60 6.95 273.41 Toledo El. 0.03 6.38 250.98 -0.43 5.23 205.82 TRANSFER Sarnia N/A N/A Pt. Stanley N/A N/A Hamilton -0.11 6.24245 1/2 -0.33 5.33209 5/6 MID SD CRN -0.32 1/2 6.02 HI SD CRN -0.30 6.04 1/2 *Wet Bid Bank of Canada Noon exchange rate was 0.9986 down 0.0134 Chicago soybeans closed slightly higher. MAR12 HI 12.31 NOV12 HI 12.29 1/4 LOW 12.13 1/4 LOW 12.11 1/2 CLOSE12.22 3/4 Up 9 1/4 CLOSE 12.21 3/4 Up 8 OLD CROP NEW CROP Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt ELEVATORS +MAR1+MAR1+MAY12 CK Low -0.75 11.48 421.73-0.94 11.28 414.38 CK High -0.68 11.55 424.30-0.90 11.32 415.85 CK Average -0.71 -0.7411.52 423.26-0.91-0.9711.31 415.42 Essex Cty -0.60 11.63 427.24-0.80 11.42 419.52 Mdsx Low -0.71 11.52 423.20-0.91 11.31 415.48 Mdsx High -0.65 11.58 425.40-0.85 11.37 417.68 Mdsx Average -0.68 -0.7111.55 424.30-0.88-0.9411.34 416.58 Hensall -0.68 11.55 424.48-0.88 11.34 416.77 Bruce -0.70 11.53 423.56-0.80 11.42 419.52 Putnam -0.65 11.58 425.40-0.85 11.37 417.68 Burford -0.65 11.58 425.40-0.85 11.37 417.68 Port Perry -0.74 11.49 422.09-0.94 11.28 414.38 Norfolk -0.63 11.60 426.14-0.88 11.34 416.58 Palmerston -0.60 11.63 427.24-0.80 11.42 419.52 Varna -0.65 11.58 425.40-0.85 11.37 417.68 Trenton -0.82 11.41 419.15-0.98 11.24 412.91 Winchester -0.88 11.35 416.95-0.82 11.40 418.79 North Gower -0.83 11.40 418.79-0.77 11.45 420.62 Huron FOB -0.55 11.68 429.07-0.80 11.42 419.52 Kent FOB -0.68 11.55 424.30-0.93 11.29 414.74 Lambton FOB -0.68 11.55 424.30-0.93 11.29 414.74 Middlesex FOB-0.58-0.55 N/A N/A 11.65 427.97-0.79 11.43 419.89 PROCESSORS Hamilton -0.10-0.10-0.10-0.10 12.13 445.61-0.20 12.02 441.57 Windsor -0.37-0.32-0.32-0.41 11.86 435.69-0.57 11.65 427.97 Winchester -0.60 11.63 427.24-0.55 11.67 428.71 TRANSFER Hamilton -0.15 N/A N/A N/A 12.08 443.77-0.25 11.97 439.73 Pt. Stanley N/A N/A Sarnia N/A N/A Owen Sound N/A N/A Sorel QC -0.25 11.98 440.10-0.10 12.12 445.24 Toledo El. -0.21 12.02 441.55-0.58 11.63 427.51 Bank of Canada Noon exchange rate was 0.9986 down 0.0134 Chicago wheat closed slightly to moderately higher. MAR12 HI 6.58 1/4 JUL12 HI 6.83 LOW 6.39 3/4 LOW 6.69 1/4 CLOSE 6.53 1/2 Up 12 1/4 CLOSE 6.80 Up 8 3/4 Minni wheat closed slightly to moderately higher. MAR12 HI 8.35 SEP12 HI 7.85 LOW 8.10 1/2 LOW 7.68 3/4 CLOSE 8.27 1/4 Up 14 1/2 CLOSE 7.79 3/4 Up 9 GFO Cash Wheat Prices - DEL Terminal Current Crop 11 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M) Basis -0.08 0.77 0.12 -0.43 CAD $/bu 6.45 7.30 6.65 7.84 CAD $/tonne 237.06 268.38 244.43 288.18 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 0.59 0.03 N/A N/A 0.58 -0.27 N/A London -0.24 0.41 -0.09 N/A N/A 0.46 -0.34 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 -0.15 N/A N/A N/A -0.37 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 0.51 -0.34 N/A Brigden N/A N/A N/A N/A N/A 0.51 -0.34 N/A Palmerston N/A 0.70 -0.09 -0.55 N/A 0.42 -0.30 -0.58 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 -0.53 N/A N/A N/A N/A North Gower N/A N/A N/A N/A N/A N/A N/A -0.15 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 0.42N/A 0.13 1.04 0.43N/A Toledo El. 6.72US 6.73CA 6.82US 6.85CA GFO Contract Wheat Prices - DEL Terminal Harvest 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M) Basis 0.03 0.83 -0.17 -0.01 CAD $/bu 6.83 7.63 6.63 7.78 CAD $/tonne 250.99 280.51 243.60 285.96 (C)-Basis over the Chicago Board of Trade futures (M)-Basis over the Minneapolis Grain Exchange FEED GRAINS Bayport Wheat 297.00 - 305.00 Bayport Oats 308.00 Bayport Barley 295.00 FOB Hm Soymeal 373.25 - 376.56 DDG's FOB Srn, Wndr, Aylm 160.00 - 178.00