FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, May 23 (All Bases in CAD) Bank of Canada Noon exchange rate was 1.0275 up 0.0084 Chicago corn closed slightly to moderately higher. JUL12 HI 6.11 DEC12 HI 5.26 3/4 LOW 5.88 1/2 LOW 5.13 3/4 CLOSE6.04 3/4 Up 7 3/4 CLOSE 5.24 3/4 Up 2 3/4 OLD CROP BASIS NEW CROP BASIS Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt ELEVATORS +JUL12+SEP12+SEP12 CK Low -0.20 5.85 230.21 -0.65 4.60 181.00 CK High -0.20 5.85 230.21 -0.60 4.65 182.96 CK Avg -0.20 -0.35 5.85 230.21 -0.64 -0.77 4.61 181.32 Essex Cty -0.20 5.85 230.21 -0.70 4.55 179.03 Mdsx Low -0.20 5.85 230.21 -0.65 4.60 181.00 Mdsx High -0.20 5.85 230.21 -0.65 4.60 181.00 Mdsx Avg -0.20 -0.35 5.85 230.21 -0.65 -0.78 4.60 181.00 Hensall -0.20 5.85 230.21 -0.63 4.62 181.98 Bruce -0.20 5.85 230.21 -0.60 4.65 182.96 Putnam -0.20 5.85 230.21 -0.65 4.60 181.00 Burford -0.20 5.85 230.21 -0.65 4.60 181.00 Port Perry -0.20 5.85 230.21 -0.65 4.60 181.00 Norfolk -0.20 5.85 230.21 -0.65 4.60 181.00 Palmerston -0.25 5.80 228.24 -0.60 4.65 182.96 Varna -0.20 5.85 230.21 -0.60 4.65 182.96 Trenton 0.00 6.05 238.08 -0.65 4.60 181.00 Winchester 0.10 6.15 242.02 -0.50 4.75 186.90 North Gower -0.15 5.90 232.17 -0.65 4.60 181.00 Huron FOB -0.15 5.90 232.17 -0.55 4.70 184.93 Kent FOB -0.20 5.85 230.21 -0.65 4.60 181.00 Lamb FOB -0.20 5.85 230.21 -0.65 4.60 181.00 Mdsx FOB -0.20 -0.20 0.50N/A 5.85 230.21 -0.65 4.60 181.00 FOB SW Que 0.45 6.50 255.80 -0.23 5.02 197.53 Track 0.13 6.17 243.00N/A PROCESSORS Chat-Eth N/A N/A N/A N/A -0.60 4.65 182.96 Jhnstwn-Eth N/A N/A N/A N/A -0.40 4.85 190.84 Aylmer-Eth -0.40 -0.35 0.50 0.55 5.65 222.33 -0.60 4.65 182.96 Sarn-Eth N/A -0.10 0.70 0.75 N/A Cllngwd-Eth -0.10N/A N/A N/A 5.95 234.14-0.30* 4.95 194.77 London-Cas N/A N/A 0.80 0.85 -0.50 4.75 186.90 Pt.Colb-Cas N/A N/A 0.85 0.90 -0.45 4.80 188.87 Cardnl-Cas N/A 0.25 1.10 1.15 -0.45 4.80 188.87 W O Feed 0.09 0.07 6.14 241.78 US Rep 0.95 0.92 7.00 275.48 Toledo El. 0.33 6.38 250.99 -0.34 4.91 193.27 TRANSFER Sarnia N/A N/A Pt. Stanley N/A N/A Hamilton -0.13 5.92233 -0.28 4.97195 5/9 MID SD CRN -0.62 1/2 4.62 1/4 HI SD CRN -0.60 4.64 3/4 *Wet Bid Bank of Canada Noon exchange rate was 1.0275 up 0.0084 Chicago soybeans closed moderately lower. JUL12 HI 13.82 3/4 NOV12 HI 12.82 LOW 13.51 LOW 12.51 1/4 CLOSE13.65 1/2 Down 16 3/4 CLOSE 12.59 1/4 Down 23 OLD CROP NEW CROP Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt ELEVATORS +JUL1+JUL1+AUG12 CK Low -0.45 13.21 485.20-0.52 12.07 443.59 CK High -0.34 13.32 489.24-0.43 12.16 446.90 CK Average -0.38 -0.7213.27 487.71-0.47-0.7812.13 445.55 Essex Cty -0.17 13.49 495.49-0.20 12.39 455.35 Mdsx Low -0.35 13.31 488.88-0.45 12.14 446.16 Mdsx High -0.31 13.35 490.34-0.41 12.18 447.63 Mdsx Average -0.33 -0.6713.33 489.61-0.43-0.7512.16 446.90 Hensall -0.38 13.28 487.96-0.43 12.17 447.08 Bruce -0.35 13.31 488.88-0.45 12.14 446.16 Putnam -0.35 13.31 488.88-0.45 12.14 446.16 Burford -0.31 13.35 490.34-0.41 12.18 447.63 Port Perry -0.34 13.32 489.24-0.44 12.15 446.53 Norfolk -0.30 13.36 490.71-0.47 12.12 445.43 Palmerston -0.55 13.11 481.53-0.45 12.14 446.16 Varna -0.40 13.26 487.04-0.40 12.19 448.00 Trenton -0.46 13.20 484.83-0.44 12.15 446.53 Winchester -0.40 13.26 487.04-0.35 12.24 449.83 North Gower -0.49 13.17 483.73-0.43 12.16 446.90 Huron FOB -0.30 13.36 490.71-0.30 12.29 451.67 Kent FOB -0.34 13.32 489.24-0.52 12.07 443.59 Lambton FOB -0.34 13.32 489.24-0.52 12.07 443.59 Middlesex FOB-0.10-0.17-0.12 N/A 13.56 498.06-0.14 12.45 457.55 PROCESSORS Hamilton 0.05 0.10 0.20 0.45 13.71 503.570.05 12.64 464.53 Windsor 0.06 0.07 0.08 N/A 13.72 503.940.03 12.62 463.80 Winchester 0.63 14.29 524.88-0.30 12.29 451.67 TRANSFER Hamilton 0.15 N/A N/A N/A 13.81 507.250.20 12.79 470.04 Pt. Stanley N/A N/A Sarnia N/A N/A Owen Sound N/A N/A Sorel QC 0.12 13.78 506.140.40 12.99 477.39 Toledo El. -0.25 13.41 492.70-0.29 12.31 452.15 Bank of Canada Noon exchange rate was 1.0275 up 0.0084 Chicago wheat closed moderately lower. JUL12 HI 6.85 JUL12 HI 6.85 LOW 6.63 1/2 LOW 6.63 1/2 CLOSE 6.68 1/4 Down 17 1/4 CLOSE 6.68 1/4 Down 17 1/4 Minni wheat closed slightly lower. JUL12 HI 7.84 3/4 SEP12 HI 7.83 3/4 LOW 7.61 1/4 LOW 7.61 1/4 CLOSE 7.75 Down 5 1/2 CLOSE 7.73 1/4 Down 6 GFO Cash Wheat Prices - DEL Terminal Current Crop 11 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M) Basis -0.04 0.73 0.01 -0.22 CAD $/bu 6.65 7.41 6.70 7.53 CAD $/tonne 244.17 272.42 246.06 276.85 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 0.40 -0.30 N/A London -0.35 0.21 -0.45 N/A 0.12 0.33 -0.44 N/A Hensall -0.25 N/A -0.35 N/A 0.25 N/A -0.25 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 -0.38 N/A N/A N/A -0.32 N/A Norwich -0.25 N/A -0.35 N/A 0.25 N/A -0.25 N/A Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A Kent Bridge -0.25 N/A -0.45 N/A 0.25 N/A -0.35 N/A Chatham N/A N/A -0.44 N/A N/A 0.35 -0.45 N/A Brigden N/A N/A -0.44 N/A N/A 0.35 -0.45 N/A Palmerston N/A 0.40 -0.42 -0.22 N/A 0.44 -0.38 -0.56 Varna 0.35 0.55 -0.30 N/A 0.35 0.55 -0.30 N/A Mitchell -0.25 0.05 -0.30 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 -0.10 N/A N/A N/A -0.10 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 0.27N/A 0.73 1.35 0.42N/A Toledo El. 6.62US 6.79CA 6.70US 6.87CA GFO Contract Wheat Prices - DEL Terminal Harvest 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M) Basis 0.32 0.89 0.07 -0.27 CAD $/bu 7.00 7.57 6.75 7.47 CAD $/tonne 257.36 278.07 247.94 274.31 (C)-Basis over the Chicago Board of Trade futures (M)-Basis over the Minneapolis Grain Exchange FEED GRAINS Bayport Wheat 325.00 Bayport Oats 320.00 Bayport Barley 320.00 FOB Hm Soymeal 473.78 - 478.19 DDG's FOB Srn, Wndr, Aylm 225.00 - 252.00