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<DIV>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Fri, March 23<BR>(All Bases in CAD)<BR>Bank of Canada Noon exchange rate was 1.0018 up 0.0015<BR>Chicago corn closed slightly higher.</DIV>
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<DIV> MAY12 HI 6.52 DEC12 HI 5.62<BR> LOW 6.42 1/4 LOW 5.54<BR> CLOSE6.46 1/2 Up 2 CLOSE 5.57 1/2 Up 1 3/4</DIV>
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<DIV> OLD CROP BASIS NEW CROP BASIS<BR>Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt<BR>ELEVATORS +MAY12+JUL12+JUL12<BR>CK Low -0.50 5.97 234.83 -0.75 4.83 189.95<BR>CK High -0.50 5.97 234.83 -0.70 4.88 191.92<BR>CK Avg -0.50 -0.50 5.97 234.83 -0.74 -0.74 4.84 190.41<BR>Essex Cty -0.55 5.92 232.86 -0.75 4.83 189.95<BR>Mdsx Low -0.50 5.97 234.83 -0.75 4.83 189.95<BR>Mdsx High -0.50 5.97 234.83 -0.75 4.83 189.95<BR>Mdsx Avg -0.50 -0.50 5.97 234.83 -0.75 -0.75 4.83 189.95<BR>Hensall -0.50 5.97 234.83 -0.75 4.83 189.95<BR>Bruce -0.50 5.97 234.83 -0.75 4.83 189.95<BR>Putnam -0.50 5.97 234.83 -0.75 4.83 189.95<BR>Burford -0.50 5.97 234.83 -0.75 4.83 189.95<BR>Port Perry -0.50 5.97 234.83 -0.75 4.83 189.95<BR>Norfolk -0.50 5.97 234.83 -0.73 4.85 190.74<BR>Palmerston -0.50 5.97 234.83 -0.75 4.83 189.95<BR>Varna -0.50 5.97 234.83 -0.75 4.83 189.95<BR>Trenton -0.35 6.12 240.74 -0.75 4.83 189.95<BR>Winchester N/A N/A<BR>North Gower -0.40 6.07 238.77 -0.70 4.88 191.92<BR>Huron FOB -0.33 6.14 241.52 -0.70 4.88 191.92<BR>Kent FOB -0.50 5.97 234.83 -0.73 4.85 190.74<BR>Lamb FOB -0.50 5.97 234.83 -0.73 4.85 190.74<BR>Mdsx FOB -0.50 -0.45 -0.35 -0.35 5.97 234.83 -0.75 4.83 189.95<BR>FOB SW Que 0.05 6.52 256.48 -0.30 5.28 207.67<BR>Track -0.05 6.42 252.55N/A<BR>PROCESSORS<BR>Chat-Eth N/A N/A N/A N/A -0.55 5.03 197.83<BR>Jhnstwn-Eth N/A 0.15 0.15 0.20 -0.35 5.23 205.70<BR>Aylmer-Eth N/A N/A -0.30 -0.25 -0.50 5.08 199.79<BR>Sarn-Eth N/A -0.30 -0.15 -0.20 N/A<BR>Cllngwd-Eth N/A 0.10 0.10N/A -0.30* 5.28 207.67<BR>London-Cas N/A N/A N/A N/A -0.50 5.08 199.79<BR>Pt.Colb-Cas N/A N/A N/A N/A -0.45 5.13 201.76<BR>Cardnl-Cas N/A N/A 0.15 0.15 -0.45 5.13 201.76<BR>W O Feed 0.01 0.01 6.48 254.91</DIV>
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<DIV>US Rep 0.65 0.65 7.12 280.11<BR>Toledo El. 0.04 6.51 256.09 -0.38 5.19 204.51</DIV>
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<DIV>TRANSFER<BR>Sarnia N/A N/A<BR>Pt. Stanley N/A N/A<BR>Hamilton -0.30 6.17242 5/7 -0.48 5.10200 4/7</DIV>
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<DIV>MID SD CRN -0.50 5.96 1/2<BR>HI SD CRN -0.50 5.96 1/2<BR>*Wet Bid</DIV>
<DIV> </DIV>
<DIV><BR>Bank of Canada Noon exchange rate was 1.0018 up 0.0015<BR>Chicago soybeans closed slightly to moderately higher.</DIV>
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<DIV> MAY12 HI 13.69 1/2 NOV12 HI 13.30<BR> LOW 13.49 1/2 LOW 13.11 1/2<BR> CLOSE13.65 3/4 Up 16 1/4 CLOSE 13.22 1/2 Up 10 3/4</DIV>
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<DIV> OLD CROP NEW CROP<BR>Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt<BR>ELEVATORS +MAY1+JUL1+JUL12<BR>CK Low -0.70 12.96 476.11-0.75 12.48 458.38<BR>CK High -0.65 13.01 477.94-0.70 12.53 460.21<BR>CK Average -0.67 -0.6712.99 477.39-0.73-0.7312.50 459.17<BR>Essex Cty -0.51 13.15 483.09-0.93 12.30 451.76<BR>Mdsx Low -0.65 13.01 477.94-0.75 12.48 458.38<BR>Mdsx High -0.65 13.01 477.94-0.70 12.53 460.21<BR>Mdsx Average -0.65 -0.6613.01 477.94-0.73-0.7312.50 459.30<BR>Hensall -0.60 13.06 479.78-0.68 12.55 461.13<BR>Bruce -0.65 13.01 477.94-0.75 12.48 458.38<BR>Putnam -0.65 13.01 477.94-0.70 12.53 460.21<BR>Burford -0.62 13.04 479.05-0.97 12.26 450.29<BR>Port Perry -0.68 12.98 476.84-0.73 12.50 459.11<BR>Norfolk -0.63 13.03 478.68-0.70 12.53 460.21<BR>Palmerston -0.55 13.11 481.62-0.65 12.58 462.05<BR>Varna -0.55 13.11 481.62-0.65 12.58 462.05<BR>Trenton -0.80 12.86 472.43-0.71 12.52 459.85<BR>Winchester N/A N/A<BR>North Gower -0.58 13.08 480.52-0.58 12.65 464.62<BR>Huron FOB -0.40 13.26 487.13-0.55 12.68 465.73<BR>Kent FOB -0.67 12.99 477.21-0.75 12.48 458.38<BR>Lambton FOB -0.67 12.99 477.21-0.75 12.48 458.38<BR>Middlesex FOB-0.56-0.51-0.51-0.41 13.10 481.25-0.53 12.70 466.46</DIV>
<DIV> </DIV>
<DIV>PROCESSORS<BR>Hamilton -0.25-0.20-0.15-0.10 13.41 492.64-0.20 13.03 478.59<BR>Windsor -0.28-0.24-0.21-0.20 13.38 491.54-0.40 12.83 471.24<BR>Winchester -0.75 12.91 474.27-0.70 12.53 460.21</DIV>
<DIV> </DIV>
<DIV>TRANSFER<BR>Hamilton -0.40 N/A N/A N/A 13.26 487.13-0.30 12.93 474.91<BR>Pt. Stanley N/A N/A<BR>Sarnia N/A N/A<BR>Owen Sound N/A N/A<BR>Sorel QC -0.25 13.41 492.64-0.05 13.18 484.10</DIV>
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<DIV>Toledo El. -0.18 13.48 495.21-0.38 12.84 471.97</DIV>
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<DIV><BR>Bank of Canada Noon exchange rate was 1.0018 up 0.0015<BR>Chicago wheat closed slightly higher.<BR>MAY12 HI 6.55 1/4 JUL12 HI 6.65 1/2<BR> LOW 6.46 1/4 LOW 6.56<BR> CLOSE 6.54 1/4 Up 8 CLOSE 6.64 1/2 Up 9</DIV>
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<DIV>Minni wheat closed slightly to moderately higher.<BR>MAY12 HI 8.19 SEP12 HI 7.95 3/4<BR> LOW 8.06 3/4 LOW 7.86 1/2<BR> CLOSE 8.17 1/4 Up 10 1/4 CLOSE 7.95 Up 9 1/2</DIV>
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<DIV>GFO Cash Wheat Prices - DEL Terminal<BR>Current Crop 11 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)<BR>Basis -0.10 0.75 0.10 -0.50<BR>CAD $/bu 6.45 7.30 6.65 7.68<BR>CAD $/tonne 236.82 268.06 244.17 282.03</DIV>
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<DIV><BR>Direct MarkHarvest 2011 Harvest 2012<BR> DELIVERED BASIS DELIVERED BASIS<BR>Location SWW(C) HRW(C) SRW(C) HRS(M) SWW(C) HRW(C) SRW(C) HRS(M)<BR>ELEVATORS<BR>Brgssvll N/A 0.35 -0.30 N/A N/A 0.25 -0.35 N/A<BR>London -0.17 0.43 -0.22 N/A -0.06 0.24 -0.56 N/A<BR>Hensall -0.30 N/A -0.30 N/A 0.10 N/A -0.35 N/A<BR>Trenton N/A N/A N/A N/A N/A N/A -0.55 N/A<BR>Winchester N/A N/A N/A N/A N/A N/A N/A N/A<BR>Essex N/A N/A -0.39 N/A N/A N/A -0.47 N/A<BR>Norwich -0.30 N/A -0.30 N/A 0.10 N/A -0.35 N/A<BR>Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A<BR>Kent Bridge -0.30 N/A -0.30 N/A 0.10 N/A -0.45 N/A<BR>Chatham N/A 0.32 -0.33 N/A N/A 0.29 -0.45 N/A<BR>Brigden N/A 0.32 -0.33 N/A N/A 0.29 -0.45 N/A<BR>Palmerston N/A 0.51 -0.23 -0.51 N/A 0.45 -0.34 -0.79<BR>Varna -0.20 0.35 -0.20 N/A -0.10 0.50 -0.25 N/A<BR>Mitchell -0.30 0.40 -0.30 N/A 0.10 0.40 -0.35 N/A<BR>Thornton N/A N/A N/A -0.80 N/A N/A N/A N/A<BR>North Gower N/A N/A N/A N/A N/A N/A N/A -0.64</DIV>
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<DIV>TERMINAL<BR>Sarnia N/A N/A N/A N/A N/A N/A N/A N/A<BR>Hamilton N/A N/A 0.00 N/A N/A N/A 0.00 N/A<BR>Pt. Stanley N/A N/A N/A N/A N/A N/A N/A N/A</DIV>
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<DIV>PROCESSORS<BR>Toledo FM N/A N/A 0.30N/A 0.55 1.00 0.40N/A</DIV>
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<DIV>Toledo El. 6.58US 6.59CA 6.77US 6.77CA</DIV>
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<DIV>GFO Contract Wheat Prices - DEL Terminal<BR>Harvest 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)<BR>Basis 0.10 0.75 -0.10 -0.40<BR>CAD $/bu 6.75 7.40 6.55 7.55<BR>CAD $/tonne 247.94 271.83 240.58 277.53</DIV>
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<DIV>(C)-Basis over the Chicago Board of Trade futures<BR>(M)-Basis over the Minneapolis Grain Exchange</DIV>
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<DIV>FEED GRAINS<BR>Bayport Wheat 305.00 - 315.00<BR>Bayport Oats 315.00<BR>Bayport Barley 300.00<BR>FOB Hm Soymeal 431.01 - 434.32<BR>DDG's FOB Srn, Wndr, Aylm 215.00 - 220.00<BR></DIV>
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<DIV>John Jordan<BR>Editor, AgriLink and Farm Market News<BR>University of Guelph, Ridgetown Campus<BR>Tel. 519-674-1500 x 63577</DIV>
<DIV>Fax. 519-674-1530<BR>E-mail: jjordan@ridgetownc.uoguelph.ca<BR>AgriLink website : www.ridgetownc.com/agrilink </DIV></BODY></HTML>