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<DIV>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, May 17<BR>(All Bases in CAD)<BR>Bank of Canada Noon exchange rate was 1.0164 up 0.0062<BR>Chicago corn closed slightly higher.</DIV>
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<DIV> JUL12 HI 6.26 1/2 DEC12 HI 5.31<BR> LOW 6.16 1/4 LOW 5.23<BR> CLOSE6.25 Up 5 CLOSE 5.28 1/4 Up 2</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 +JUL12+SEP12+SEP12<BR>CK Low -0.25 6.00 236.21 -0.70 4.58 180.41<BR>CK High -0.20 6.05 238.18 -0.65 4.63 182.37<BR>CK Avg -0.21 -0.33 6.04 237.85 -0.66 -0.76 4.62 181.98<BR>Essex Cty -0.25 6.00 236.21 -0.65 4.63 182.37<BR>Mdsx Low -0.20 6.05 238.18 -0.70 4.58 180.41<BR>Mdsx High -0.20 6.05 238.18 -0.65 4.63 182.37<BR>Mdsx Avg -0.20 -0.32 6.05 238.18 -0.68 -0.78 4.61 181.39<BR>Hensall -0.23 6.03 237.19 -0.63 4.66 183.36<BR>Bruce -0.20 6.05 238.18 -0.65 4.63 182.37<BR>Putnam -0.20 6.05 238.18 -0.65 4.63 182.37<BR>Burford -0.20 6.05 238.18 -0.70 4.58 180.41<BR>Port Perry -0.20 6.05 238.18 -0.70 4.58 180.41<BR>Norfolk -0.20 6.05 238.18 -0.66 4.62 181.98<BR>Palmerston -0.45 5.80 228.34 -0.65 4.63 182.37<BR>Varna -0.25 6.00 236.21 -0.60 4.68 184.34<BR>Trenton -0.10 6.15 242.11 -0.65 4.63 182.37<BR>Winchester 0.10 6.35 249.99 -0.50 4.78 188.28<BR>North Gower -0.25 6.00 236.21 -0.75 4.53 178.44<BR>Huron FOB -0.20 6.05 238.18 -0.55 4.73 186.31<BR>Kent FOB -0.20 6.05 238.18 -0.66 4.62 181.98<BR>Lamb FOB -0.20 6.05 238.18 -0.66 4.62 181.98<BR>Mdsx FOB -0.20 -0.20N/A N/A 6.05 238.18 -0.70 4.58 180.41<BR>FOB SW Que 0.45 6.70 263.77 -0.25 5.03 198.12<BR>Track 0.10 6.35 249.99N/A<BR>PROCESSORS<BR>Chat-Eth N/A N/A N/A N/A -0.60 4.68 184.34<BR>Jhnstwn-Eth N/A N/A N/A N/A -0.40 4.88 192.22<BR>Aylmer-Eth -0.40 -0.35 0.50 0.55 5.85 230.30 -0.60 4.68 184.34<BR>Sarn-Eth N/A -0.10 0.70 0.75 N/A<BR>Cllngwd-Eth -0.10N/A N/A N/A 6.15 242.11-0.30* 4.98 196.15<BR>London-Cas N/A N/A 0.80 0.85 -0.50 4.78 188.28<BR>Pt.Colb-Cas N/A N/A 0.85 0.90 -0.45 4.83 190.25<BR>Cardnl-Cas N/A 0.25 1.10 1.15 -0.45 4.83 190.25<BR>W O Feed 0.08 0.07 6.33 249.36</DIV>
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<DIV>US Rep 0.70 0.68 6.95 273.61<BR>Toledo El. 0.33 6.58 258.89 -0.34 4.95 194.72</DIV>
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<DIV>TRANSFER<BR>Sarnia N/A N/A<BR>Pt. Stanley N/A N/A<BR>Hamilton -0.15 6.10240 1/7 -0.30 4.98196 1/7</DIV>
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<DIV>MID SD CRN -0.67 1/2 4.60 3/4<BR>HI SD CRN -0.65 4.63 1/4<BR>*Wet Bid</DIV>
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<DIV><BR>Bank of Canada Noon exchange rate was 1.0164 up 0.0062<BR>Chicago soybeans closed slightly to moderately higher.</DIV>
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<DIV> JUL12 HI 14.49 3/4 NOV12 HI 13.18<BR> LOW 14.20 1/4 LOW 12.99 3/4<BR> CLOSE14.38 Up 16 CLOSE 13.06 1/2 Up 4 1/4</DIV>
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<DIV> OLD CROP NEW CROP<BR>Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt<BR>ELEVATORS +JUL1+JUL1+NOV12<BR>CK Low -0.70 13.68 502.65-0.60 12.47 458.01<BR>CK High -0.44 13.94 512.21-0.51 12.56 461.32<BR>CK Average -0.54 -0.8213.84 508.41-0.57-0.8212.50 459.17<BR>Essex Cty -0.27 14.11 518.45-0.30 12.77 469.03<BR>Mdsx Low -0.55 13.83 508.17-0.60 12.47 458.01<BR>Mdsx High -0.43 13.95 512.57-0.47 12.60 462.79<BR>Mdsx Average -0.49 -0.7713.89 510.37-0.54-0.7912.53 460.40<BR>Hensall -0.53 13.86 509.08-0.53 12.54 460.77<BR>Bruce -0.55 13.83 508.17-0.60 12.47 458.01<BR>Putnam -0.45 13.93 511.84-0.50 12.57 461.68<BR>Burford -0.43 13.95 512.57-0.47 12.60 462.79<BR>Port Perry -0.46 13.92 511.47-0.50 12.57 461.68<BR>Norfolk -0.40 13.98 513.68-0.50 12.57 461.68<BR>Palmerston -0.65 13.73 504.49-0.65 12.42 456.17<BR>Varna -0.50 13.88 510.00-0.45 12.62 463.52<BR>Trenton -0.55 13.83 508.17-0.50 12.57 461.68<BR>Winchester -0.58 13.80 507.06-0.35 12.72 467.20<BR>North Gower -0.59 13.79 506.70-0.43 12.64 464.26<BR>Huron FOB -0.40 13.98 513.68-0.35 12.72 467.20<BR>Kent FOB -0.44 13.94 512.21-0.55 12.52 459.85<BR>Lambton FOB -0.44 13.94 512.21-0.55 12.52 459.85<BR>Middlesex FOB-0.32-0.27-0.22 N/A 14.06 516.62-0.26 12.81 470.50</DIV>
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<DIV>PROCESSORS<BR>Hamilton 0.00 0.05 15.000.40 14.38 528.37-0.05 13.02 478.22<BR>Windsor -0.04-0.03-0.02 N/A 14.34 526.90-0.07 13.00 477.48<BR>Winchester -0.60 13.78 506.33-0.35 12.72 467.20</DIV>
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<DIV>TRANSFER<BR>Hamilton 0.10 N/A N/A N/A 14.48 532.050.15 13.22 485.57<BR>Pt. Stanley N/A N/A<BR>Sarnia N/A N/A<BR>Owen Sound N/A N/A<BR>Sorel QC 0.10 14.48 532.050.40 13.47 494.75</DIV>
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<DIV>Toledo El. -0.24 14.14 519.39-0.29 12.78 469.57</DIV>
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<DIV><BR>Bank of Canada Noon exchange rate was 1.0164 up 0.0062<BR>Chicago wheat closed moderately higher.<BR>JUL12 HI 6.58 1/2 JUL12 HI 6.58 1/2<BR> LOW 6.37 3/4 LOW 6.37 3/4<BR> CLOSE 6.57 3/4 Up 19 CLOSE 6.57 3/4 Up 19</DIV>
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<DIV>Minni wheat closed slightly higher.<BR>JUL12 HI 7.78 1/4 SEP12 HI 7.74 1/4<BR> LOW 7.56 1/2 LOW 7.55 1/4<BR> CLOSE 7.67 1/4 Up 7 1/4 CLOSE 7.64 1/2 Up 9</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 -0.08 0.69 -0.03 -0.26<BR>CAD $/bu 6.50 7.26 6.55 7.41<BR>CAD $/tonne 238.82 266.91 240.70 272.34</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 N/A N/A N/A N/A 0.30 -0.30 N/A<BR>London -0.34 0.22 -0.34 N/A 0.13 0.33 -0.43 N/A<BR>Hensall -0.35 N/A -0.35 N/A 0.25 N/A -0.30 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 -0.38<BR>Essex N/A N/A -0.43 N/A N/A N/A -0.37 N/A<BR>Norwich -0.35 N/A -0.35 N/A 0.25 N/A -0.30 N/A<BR>Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A<BR>Kent Bridge -0.40 N/A -0.40 N/A 0.25 N/A -0.35 N/A<BR>Chatham N/A N/A -0.45 N/A N/A 0.30 -0.45 N/A<BR>Brigden N/A N/A -0.45 N/A N/A 0.30 -0.45 N/A<BR>Palmerston N/A 0.31 -0.50 -0.30 N/A 0.35 -0.45 -0.65<BR>Varna 0.35 0.55 -0.30 N/A 0.35 0.55 -0.30 N/A<BR>Mitchell -0.35 0.05 -0.35 N/A 0.25 0.55 -0.25 N/A<BR>Thornton N/A N/A N/A -0.27 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 -0.39</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 0.05 N/A N/A N/A 0.05 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 0.23N/A 0.69 1.21 0.38N/A</DIV>
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<DIV>Toledo El. 6.52US 6.64CA 6.60US 6.72CA</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 0.28 0.84 0.02 -0.31<BR>CAD $/bu 6.86 7.42 6.60 7.33<BR>CAD $/tonne 251.93 272.53 242.57 269.44</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 325.00<BR>Bayport Oats 315.00<BR>Bayport Barley 320.00<BR>FOB Hm Soymeal 491.64<BR>DDG's FOB Srn, Wndr, Aylm 215.00 - 245.00<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>