FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, February 16 (All Bases in CAD) Bank of Canada Noon exchange rate was 0.9962 down 0.0034 Chicago corn closed moderately higher. MAR12 HI 6.37 DEC12 HI 5.68 3/4 LOW 6.21 3/4 LOW 5.57 3/4 CLOSE6.36 1/4 Up 9 1/4 CLOSE 5.68 Up 8 1/4 OLD CROP BASIS NEW CROP BASIS Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt ELEVATORS +MAY12+MAY12+JUL12 CK Low -0.40 5.96 234.73 -0.65 5.03 198.02 CK High -0.35 6.01 236.70 -0.65 5.03 198.02 CK Avg -0.39 -0.37 5.98 235.26 -0.65 -0.64 5.03 198.02 Essex Cty -0.40 5.96 234.73 -0.75 4.93 194.09 Mdsx Low -0.40 5.96 234.73 -0.65 5.03 198.02 Mdsx High -0.40 5.96 234.73 -0.65 5.03 198.02 Mdsx Avg -0.40 -0.38 5.96 234.73 -0.65 -0.64 5.03 198.02 Hensall -0.40 5.96 234.73 -0.65 5.03 198.02 Bruce -0.40 5.96 234.73 -0.65 5.03 198.02 Putnam -0.40 5.96 234.73 -0.65 5.03 198.02 Burford -0.40 5.96 234.73 -0.65 5.03 198.02 Port Perry -0.40 5.96 234.73 -0.65 5.03 198.02 Norfolk -0.37 5.99 235.91 -0.65 5.03 198.02 Palmerston -0.40 5.96 234.73 -0.65 5.03 198.02 Varna -0.40 5.96 234.73 -0.65 5.03 198.02 Trenton -0.10 6.26 246.54 -0.60 5.08 199.99 Winchester -0.05 6.31 248.51 -0.50 5.18 203.93 North Gower 0.02 6.38 251.27 0.10 5.78 227.55 Huron FOB -0.25 6.11 240.64 -0.60 5.08 199.99 Kent FOB -0.37 5.99 235.91 -0.65 5.03 198.02 Lamb FOB -0.37 5.99 235.91 -0.65 5.03 198.02 Mdsx FOB -0.35 -0.35 -0.25 -0.25 6.01 236.70 -0.65 5.03 198.02 FOB SW Que 0.15 6.51 256.39 -0.30 5.38 211.80 Track 0.03 6.39 251.46N/A PROCESSORS Chat-Eth N/A N/A N/A N/A -0.65 5.03 198.02 Jhnstwn-Eth 0.20 0.25 0.35 0.25 6.56 258.35 -0.55 5.13 201.96 Aylmer-Eth N/A -0.25 -0.20 -0.20 -0.50 5.18 203.93 Sarn-Eth -0.10 -0.10 0.00 0.05 6.26 246.54N/A Cllngwd-Eth N/A N/A N/A N/A -0.30* 5.38 211.80 London-Cas N/A N/A 0.10 0.10 -0.40 5.28 207.86 Pt.Colb-Cas N/A N/A N/A 0.20 -0.35 5.33 209.83 Cardnl-Cas 0.20 0.35 0.40 0.20 6.56 258.35 -0.35 5.33 209.83 W O Feed 0.14 0.14 6.50 255.99 US Rep 0.60 0.60 6.96 274.10 Toledo El. 0.10 6.46 254.41 -0.38 5.30 208.67 TRANSFER Sarnia N/A N/A Pt. Stanley N/A N/A Hamilton -0.16 6.20244 1/6 -0.38 5.30208 2/3 MID SD CRN -0.37 1/2 5.98 3/4 HI SD CRN -0.35 6.01 1/4 *Wet Bid Bank of Canada Noon exchange rate was 0.9962 down 0.0034 Chicago soybeans closed slightly lower. MAR12 HI 12.64 1/2 NOV12 HI 12.62 LOW 12.46 1/4 LOW 12.45 CLOSE12.58 1/4 Down 2 3/4 CLOSE 12.55 1/4 Down 5 1/4 OLD CROP NEW CROP Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt ELEVATORS +MAR1+MAR1+MAY12 CK Low -0.55 12.03 442.12-0.80 11.75 431.83 CK High -0.48 12.10 444.69-0.70 11.85 435.50 CK Average -0.52 -0.4912.06 443.16-0.75-0.7311.80 433.67 Essex Cty -0.45 12.13 445.79-0.58 11.97 439.91 Mdsx Low -0.57 12.01 441.38-0.76 11.79 433.30 Mdsx High -0.50 12.08 443.96-0.70 11.85 435.50 Mdsx Average -0.54 -0.5012.05 442.67-0.73-0.7111.82 434.40 Hensall -0.55 12.03 442.12-0.75 11.80 433.67 Bruce -0.50 12.08 443.96-0.75 11.80 433.67 Putnam -0.50 12.08 443.96-0.70 11.85 435.50 Burford -0.54 12.04 442.49-0.73 11.82 434.40 Port Perry -0.60 11.98 440.28-0.79 11.76 432.20 Norfolk -0.44 12.14 446.16-0.68 11.87 436.24 Palmerston -0.60 11.98 440.28-0.80 11.75 431.83 Varna -0.65 11.93 438.44-0.85 11.70 429.99 Trenton -0.70 11.88 436.61-0.80 11.75 431.83 Winchester -0.87 11.71 430.36-0.72 11.83 434.77 North Gower -0.46 12.12 445.43-0.09 12.46 457.92 Huron FOB -0.45 12.13 445.79-0.70 11.85 435.50 Kent FOB -0.48 12.10 444.69-0.73 11.82 434.40 Lambton FOB -0.48 12.10 444.69-0.73 11.82 434.40 Middlesex FOB-0.35 N/A N/A N/A 12.23 449.47-0.54 12.01 441.38 PROCESSORS Hamilton -0.20-0.20-0.20-0.20 12.38 454.98-0.10 12.45 457.55 Windsor -0.22-0.22-0.27-0.26 12.36 454.24-0.35 12.20 448.37 Winchester -0.84 11.74 431.46-0.69 11.86 435.87 TRANSFER Hamilton -0.20 N/A N/A N/A 12.38 454.98-0.15 12.40 455.71 Pt. Stanley N/A N/A Sarnia N/A N/A Owen Sound N/A N/A Sorel QC -0.10 12.48 458.650.05 12.60 463.06 Toledo El. -0.18 12.40 455.73-0.38 12.17 447.28 Bank of Canada Noon exchange rate was 0.9962 down 0.0034 Chicago wheat closed slightly higher. MAR12 HI 6.32 1/4 JUL12 HI 6.52 LOW 6.21 LOW 6.41 3/4 CLOSE 6.28 3/4 Up 2 3/4 CLOSE 6.48 Up 1 1/4 Minni wheat closed slightly higher to higher. MAR12 HI 8.21 SEP12 HI 7.98 3/4 LOW 8.09 3/4 LOW 7.66 CLOSE 8.17 3/4 Up 6 3/4 CLOSE 7.97 Up 28 1/2 GFO Cash Wheat Prices - DEL Terminal Current Crop 11 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M) Basis -0.12 0.73 0.08 -0.47 CAD $/bu 6.17 7.02 6.37 7.71 CAD $/tonne 226.74 257.89 234.07 283.17 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 0.46 -0.04 N/A N/A 0.42 -0.34 N/A London -0.10 0.45 -0.10 N/A 0.00 0.45 -0.35 N/A Hensall -0.10 N/A -0.15 N/A 0.05 N/A -0.40 N/A Trenton N/A N/A N/A N/A N/A N/A -0.25 N/A Winchester N/A N/A N/A N/A N/A N/A N/A -0.80 Essex N/A N/A -0.17 N/A N/A N/A -0.35 N/A Norwich -0.10 N/A -0.15 N/A 0.05 N/A -0.40 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 -0.15 N/A 0.05 N/A -0.40 N/A Chatham N/A N/A N/A N/A N/A 0.43 -0.39 N/A Brigden N/A N/A N/A N/A N/A 0.43 -0.39 N/A Palmerston N/A 0.66 -0.07 -0.48 N/A 0.38 -0.27 -0.76 Varna -0.10 0.55 -0.10 N/A 0.05 0.60 -0.30 N/A Mitchell -0.10 0.50 -0.15 N/A 0.05 0.55 -0.40 N/A Thornton N/A N/A N/A -0.65 N/A N/A N/A N/A North Gower N/A N/A N/A N/A N/A N/A N/A -0.75 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 0.00 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 0.38N/A N/A 0.99 0.39N/A Toledo El. 6.46US 6.44CA 6.50US 6.49CA GFO Contract Wheat Prices - DEL Terminal Harvest 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M) Basis 0.04 0.79 -0.16 -0.06 CAD $/bu 6.52 7.27 6.32 7.91 CAD $/tonne 239.58 267.09 232.24 290.57 (C)-Basis over the Chicago Board of Trade futures (M)-Basis over the Minneapolis Grain Exchange FEED GRAINS Bayport Wheat 300.00 - 302.00 Bayport Oats 314.00 Bayport Barley 295.00 FOB Hm Soymeal 378.98 DDG's FOB Srn, Wndr, Aylm 160.00 - 185.00