FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, May 17 (All Bases in CAD) Bank of Canada Noon exchange rate was 1.0164 up 0.0062 Chicago corn closed slightly higher. JUL12 HI 6.26 1/2 DEC12 HI 5.31 LOW 6.16 1/4 LOW 5.23 CLOSE6.25 Up 5 CLOSE 5.28 1/4 Up 2 OLD CROP BASIS NEW CROP BASIS Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt ELEVATORS +JUL12+SEP12+SEP12 CK Low -0.25 6.00 236.21 -0.70 4.58 180.41 CK High -0.20 6.05 238.18 -0.65 4.63 182.37 CK Avg -0.21 -0.33 6.04 237.85 -0.66 -0.76 4.62 181.98 Essex Cty -0.25 6.00 236.21 -0.65 4.63 182.37 Mdsx Low -0.20 6.05 238.18 -0.70 4.58 180.41 Mdsx High -0.20 6.05 238.18 -0.65 4.63 182.37 Mdsx Avg -0.20 -0.32 6.05 238.18 -0.68 -0.78 4.61 181.39 Hensall -0.23 6.03 237.19 -0.63 4.66 183.36 Bruce -0.20 6.05 238.18 -0.65 4.63 182.37 Putnam -0.20 6.05 238.18 -0.65 4.63 182.37 Burford -0.20 6.05 238.18 -0.70 4.58 180.41 Port Perry -0.20 6.05 238.18 -0.70 4.58 180.41 Norfolk -0.20 6.05 238.18 -0.66 4.62 181.98 Palmerston -0.45 5.80 228.34 -0.65 4.63 182.37 Varna -0.25 6.00 236.21 -0.60 4.68 184.34 Trenton -0.10 6.15 242.11 -0.65 4.63 182.37 Winchester 0.10 6.35 249.99 -0.50 4.78 188.28 North Gower -0.25 6.00 236.21 -0.75 4.53 178.44 Huron FOB -0.20 6.05 238.18 -0.55 4.73 186.31 Kent FOB -0.20 6.05 238.18 -0.66 4.62 181.98 Lamb FOB -0.20 6.05 238.18 -0.66 4.62 181.98 Mdsx FOB -0.20 -0.20N/A N/A 6.05 238.18 -0.70 4.58 180.41 FOB SW Que 0.45 6.70 263.77 -0.25 5.03 198.12 Track 0.10 6.35 249.99N/A PROCESSORS Chat-Eth N/A N/A N/A N/A -0.60 4.68 184.34 Jhnstwn-Eth N/A N/A N/A N/A -0.40 4.88 192.22 Aylmer-Eth -0.40 -0.35 0.50 0.55 5.85 230.30 -0.60 4.68 184.34 Sarn-Eth N/A -0.10 0.70 0.75 N/A Cllngwd-Eth -0.10N/A N/A N/A 6.15 242.11-0.30* 4.98 196.15 London-Cas N/A N/A 0.80 0.85 -0.50 4.78 188.28 Pt.Colb-Cas N/A N/A 0.85 0.90 -0.45 4.83 190.25 Cardnl-Cas N/A 0.25 1.10 1.15 -0.45 4.83 190.25 W O Feed 0.08 0.07 6.33 249.36 US Rep 0.70 0.68 6.95 273.61 Toledo El. 0.33 6.58 258.89 -0.34 4.95 194.72 TRANSFER Sarnia N/A N/A Pt. Stanley N/A N/A Hamilton -0.15 6.10240 1/7 -0.30 4.98196 1/7 MID SD CRN -0.67 1/2 4.60 3/4 HI SD CRN -0.65 4.63 1/4 *Wet Bid Bank of Canada Noon exchange rate was 1.0164 up 0.0062 Chicago soybeans closed slightly to moderately higher. JUL12 HI 14.49 3/4 NOV12 HI 13.18 LOW 14.20 1/4 LOW 12.99 3/4 CLOSE14.38 Up 16 CLOSE 13.06 1/2 Up 4 1/4 OLD CROP NEW CROP Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt ELEVATORS +JUL1+JUL1+NOV12 CK Low -0.70 13.68 502.65-0.60 12.47 458.01 CK High -0.44 13.94 512.21-0.51 12.56 461.32 CK Average -0.54 -0.8213.84 508.41-0.57-0.8212.50 459.17 Essex Cty -0.27 14.11 518.45-0.30 12.77 469.03 Mdsx Low -0.55 13.83 508.17-0.60 12.47 458.01 Mdsx High -0.43 13.95 512.57-0.47 12.60 462.79 Mdsx Average -0.49 -0.7713.89 510.37-0.54-0.7912.53 460.40 Hensall -0.53 13.86 509.08-0.53 12.54 460.77 Bruce -0.55 13.83 508.17-0.60 12.47 458.01 Putnam -0.45 13.93 511.84-0.50 12.57 461.68 Burford -0.43 13.95 512.57-0.47 12.60 462.79 Port Perry -0.46 13.92 511.47-0.50 12.57 461.68 Norfolk -0.40 13.98 513.68-0.50 12.57 461.68 Palmerston -0.65 13.73 504.49-0.65 12.42 456.17 Varna -0.50 13.88 510.00-0.45 12.62 463.52 Trenton -0.55 13.83 508.17-0.50 12.57 461.68 Winchester -0.58 13.80 507.06-0.35 12.72 467.20 North Gower -0.59 13.79 506.70-0.43 12.64 464.26 Huron FOB -0.40 13.98 513.68-0.35 12.72 467.20 Kent FOB -0.44 13.94 512.21-0.55 12.52 459.85 Lambton FOB -0.44 13.94 512.21-0.55 12.52 459.85 Middlesex FOB-0.32-0.27-0.22 N/A 14.06 516.62-0.26 12.81 470.50 PROCESSORS Hamilton 0.00 0.05 15.000.40 14.38 528.37-0.05 13.02 478.22 Windsor -0.04-0.03-0.02 N/A 14.34 526.90-0.07 13.00 477.48 Winchester -0.60 13.78 506.33-0.35 12.72 467.20 TRANSFER Hamilton 0.10 N/A N/A N/A 14.48 532.050.15 13.22 485.57 Pt. Stanley N/A N/A Sarnia N/A N/A Owen Sound N/A N/A Sorel QC 0.10 14.48 532.050.40 13.47 494.75 Toledo El. -0.24 14.14 519.39-0.29 12.78 469.57 Bank of Canada Noon exchange rate was 1.0164 up 0.0062 Chicago wheat closed moderately higher. JUL12 HI 6.58 1/2 JUL12 HI 6.58 1/2 LOW 6.37 3/4 LOW 6.37 3/4 CLOSE 6.57 3/4 Up 19 CLOSE 6.57 3/4 Up 19 Minni wheat closed slightly higher. JUL12 HI 7.78 1/4 SEP12 HI 7.74 1/4 LOW 7.56 1/2 LOW 7.55 1/4 CLOSE 7.67 1/4 Up 7 1/4 CLOSE 7.64 1/2 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 0.69 -0.03 -0.26 CAD $/bu 6.50 7.26 6.55 7.41 CAD $/tonne 238.82 266.91 240.70 272.34 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 N/A N/A N/A N/A 0.30 -0.30 N/A London -0.34 0.22 -0.34 N/A 0.13 0.33 -0.43 N/A Hensall -0.35 N/A -0.35 N/A 0.25 N/A -0.30 N/A Trenton N/A N/A N/A N/A N/A N/A -0.55 N/A Winchester N/A N/A N/A N/A N/A N/A N/A -0.38 Essex N/A N/A -0.43 N/A N/A N/A -0.37 N/A Norwich -0.35 N/A -0.35 N/A 0.25 N/A -0.30 N/A Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A Kent Bridge -0.40 N/A -0.40 N/A 0.25 N/A -0.35 N/A Chatham N/A N/A -0.45 N/A N/A 0.30 -0.45 N/A Brigden N/A N/A -0.45 N/A N/A 0.30 -0.45 N/A Palmerston N/A 0.31 -0.50 -0.30 N/A 0.35 -0.45 -0.65 Varna 0.35 0.55 -0.30 N/A 0.35 0.55 -0.30 N/A Mitchell -0.35 0.05 -0.35 N/A 0.25 0.55 -0.25 N/A Thornton N/A N/A N/A -0.27 N/A N/A N/A N/A North Gower N/A N/A N/A N/A N/A N/A N/A -0.39 TERMINAL Sarnia N/A N/A N/A N/A N/A N/A N/A N/A Hamilton N/A N/A 0.05 N/A N/A N/A 0.05 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 0.23N/A 0.69 1.21 0.38N/A Toledo El. 6.52US 6.64CA 6.60US 6.72CA GFO Contract Wheat Prices - DEL Terminal Harvest 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M) Basis 0.28 0.84 0.02 -0.31 CAD $/bu 6.86 7.42 6.60 7.33 CAD $/tonne 251.93 272.53 242.57 269.44 (C)-Basis over the Chicago Board of Trade futures (M)-Basis over the Minneapolis Grain Exchange FEED GRAINS Bayport Wheat 325.00 Bayport Oats 315.00 Bayport Barley 320.00 FOB Hm Soymeal 491.64 DDG's FOB Srn, Wndr, Aylm 215.00 - 245.00