FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, February 23 (All Bases in CAD) Bank of Canada Noon exchange rate was 0.9985 down 0.0015 Chicago corn closed mixed. MAR12 HI 6.43 1/2 DEC12 HI 5.66 LOW 6.33 1/4 LOW 5.54 1/4 CLOSE6.39 1/2 Up 1 1/4 CLOSE 5.58 3/4 Down 5 3/4 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 6.00 236.01 -0.70 4.89 192.41 CK High -0.30 6.10 239.95 -0.60 4.99 196.35 CK Avg -0.38 -0.37 6.01 236.73 -0.67 -0.67 4.92 193.72 Essex Cty -0.40 6.00 236.01 -0.75 4.84 190.44 Mdsx Low -0.40 6.00 236.01 -0.70 4.89 192.41 Mdsx High -0.40 6.00 236.01 -0.70 4.89 192.41 Mdsx Avg -0.40 -0.39 6.00 236.01 -0.70 -0.70 4.89 192.41 Hensall -0.40 6.00 236.01 -0.68 4.91 193.40 Bruce -0.40 6.00 236.01 -0.70 4.89 192.41 Putnam -0.40 6.00 236.01 -0.65 4.94 194.38 Burford -0.40 6.00 236.01 -0.65 4.94 194.38 Port Perry -0.40 6.00 236.01 -0.65 4.94 194.38 Norfolk -0.39 6.01 236.41 -0.65 4.94 194.38 Palmerston -0.40 6.00 236.01 -0.65 4.94 194.38 Varna -0.40 6.00 236.01 -0.65 4.94 194.38 Trenton -0.10 6.30 247.82 -0.60 4.99 196.35 Winchester -0.05 6.35 249.79 -0.50 5.09 200.29 North Gower -0.09 6.31 248.22 -0.44 5.15 202.65 Huron FOB -0.25 6.15 241.92 -0.60 4.99 196.35 Kent FOB -0.39 6.01 236.41 -0.65 4.94 194.38 Lamb FOB -0.39 6.01 236.41 -0.65 4.94 194.38 Mdsx FOB -0.35 -0.35 -0.30 -0.25 6.05 237.98 -0.65 4.94 194.38 FOB SW Que 0.10 6.50 255.70 -0.30 5.29 208.16 Track 0.03 6.42 252.74N/A PROCESSORS Chat-Eth N/A N/A N/A N/A -0.65 4.94 194.38 Jhnstwn-Eth 0.20 0.25 0.35 0.20 6.60 259.63 -0.55 5.04 198.32 Aylmer-Eth N/A -0.25 -0.20 -0.20 -0.50 5.09 200.29 Sarn-Eth -0.10 -0.10 0.00 0.05 6.30 247.82N/A Cllngwd-Eth N/A N/A N/A N/A -0.30* 5.29 208.16 London-Cas N/A N/A 0.10 0.10 -0.40 5.19 204.22 Pt.Colb-Cas N/A N/A N/A N/A -0.35 5.24 206.19 Cardnl-Cas 0.20 0.35 0.40 0.20 6.60 259.63 -0.35 5.24 206.19 W O Feed 0.13 0.13 6.53 256.88 US Rep 0.60 0.60 7.00 275.38 Toledo El. 0.10 6.49 255.69 -0.38 5.21 205.01 TRANSFER Sarnia N/A N/A Pt. Stanley N/A N/A Hamilton -0.15 6.25245 6/7 -0.40 5.19204 2/9 MID SD CRN -0.35 6.04 1/2 HI SD CRN -0.30 6.09 1/2 *Wet Bid Bank of Canada Noon exchange rate was 0.9985 down 0.0015 Chicago soybeans closed slightly higher. MAR12 HI 12.80 NOV12 HI 12.68 3/4 LOW 12.66 1/2 LOW 12.57 1/2 CLOSE12.76 3/4 Up 4 1/2 CLOSE 12.67 3/4 Up 3 3/4 OLD CROP NEW CROP Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt ELEVATORS +MAR1+MAR1+MAY12 CK Low -0.58 12.19 447.81-0.79 11.89 436.79 CK High -0.50 12.27 450.75-0.70 11.98 440.10 CK Average -0.51 -0.4912.25 450.26-0.75-0.7511.93 438.32 Essex Cty -0.43 12.34 453.33-0.58 12.10 444.51 Mdsx Low -0.57 12.20 448.18-0.76 11.92 437.89 Mdsx High -0.50 12.27 450.75-0.70 11.98 440.10 Mdsx Average -0.54 -0.5112.23 449.47-0.73-0.7311.95 439.00 Hensall -0.50 12.27 450.75-0.73 11.95 439.18 Bruce -0.50 12.27 450.75-0.75 11.93 438.26 Putnam -0.55 12.22 448.92-0.75 11.93 438.26 Burford -0.50 12.27 450.75-0.69 11.99 440.47 Port Perry -0.60 12.17 447.08-0.79 11.89 436.79 Norfolk -0.46 12.31 452.22-0.70 11.98 440.10 Palmerston -0.55 12.22 448.92-0.80 11.88 436.42 Varna -0.55 12.22 448.92-0.85 11.83 434.59 Trenton -0.75 12.02 441.57-0.85 11.83 434.59 Winchester -0.75 12.02 441.57-0.75 11.93 438.26 North Gower -0.77 12.00 440.83-0.70 11.98 440.10 Huron FOB -0.35 12.42 456.27-0.65 12.03 441.93 Kent FOB -0.50 12.27 450.75-0.75 11.93 438.26 Lambton FOB -0.50 12.27 450.75-0.75 11.93 438.26 Middlesex FOB-0.54-0.49-0.54 N/A 12.23 449.28-0.55 12.13 445.61 PROCESSORS Hamilton -0.20-0.20-0.20-0.20 12.57 461.78-0.15 12.53 460.31 Windsor -0.21-0.21-0.26-0.26 12.56 461.41-0.35 12.33 452.96 Winchester -0.78 11.99 440.47-0.64 12.04 442.30 TRANSFER Hamilton -0.15 N/A N/A N/A 12.62 463.61-0.15 12.53 460.31 Pt. Stanley N/A N/A Sarnia N/A N/A Owen Sound N/A N/A Sorel QC -0.10 12.67 465.450.10 12.78 469.49 Toledo El. -0.13 12.64 464.36-0.38 12.30 451.85 Bank of Canada Noon exchange rate was 0.9985 down 0.0015 Chicago wheat closed slightly lower. MAR12 HI 6.45 3/4 JUL12 HI 6.60 1/2 LOW 6.35 1/4 LOW 6.48 1/2 CLOSE 6.41 3/4 Down 2 3/4 CLOSE 6.55 Down 5 Minni wheat closed slightly to moderately lower. MAR12 HI 8.20 1/2 SEP12 HI 7.95 LOW 8.00 1/2 LOW 7.79 CLOSE 8.01 Down 17 1/4 CLOSE 7.83 1/2 Down 8 3/4 GFO Cash Wheat Prices - DEL Terminal Current Crop 11 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M) Basis -0.11 0.74 0.09 -0.46 CAD $/bu 6.31 7.15 6.51 7.55 CAD $/tonne 231.69 262.86 239.02 277.26 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 -0.13 N/A N/A 0.37 -0.39 N/A London -0.12 0.43 -0.17 N/A 0.00 0.40 -0.40 N/A Hensall -0.10 N/A -0.15 N/A 0.00 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 -0.25 N/A N/A N/A -0.45 N/A Norwich -0.10 N/A -0.15 N/A 0.00 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 0.00 N/A -0.40 N/A Chatham N/A N/A N/A N/A N/A 0.37 -0.38 N/A Brigden N/A N/A N/A N/A N/A 0.37 -0.38 N/A Palmerston N/A 0.69 -0.09 -0.45 N/A 0.51 -0.29 -0.73 Varna -0.15 0.50 -0.15 N/A 0.00 0.55 -0.35 N/A Mitchell -0.10 0.50 -0.15 N/A 0.00 0.55 -0.40 N/A Thornton N/A N/A N/A -0.55 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 -0.25 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 0.39N/A N/A 1.00 0.40N/A Toledo El. 6.56US 6.55CA 6.57US 6.57CA GFO Contract Wheat Prices - DEL Terminal Harvest 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M) Basis 0.10 0.75 -0.10 -0.30 CAD $/bu 6.65 7.30 6.45 7.54 CAD $/tonne 244.42 268.31 237.07 276.95 (C)-Basis over the Chicago Board of Trade futures (M)-Basis over the Minneapolis Grain Exchange FEED GRAINS Bayport Wheat 300.00 - 312.00 Bayport Oats 315.00 Bayport Barley 295.00 FOB Hm Soymeal 385.04 DDG's FOB Srn, Wndr, Aylm 165.00 - 190.00