FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Fri, May 25 (All Bases in CAD) Bank of Canada Noon exchange rate was 1.0285 up 0.0010 Chicago corn closed slightly to moderately higher. JUL12 HI 5.89 1/2 DEC12 HI 5.23 1/4 LOW 5.73 1/4 LOW 5.14 1/4 CLOSE5.78 3/4 Up 1/4 CLOSE 5.21 Up 6 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 5.59 219.97 -0.65 4.56 179.52 CK High -0.17 5.62 221.15 -0.60 4.61 181.49 CK Avg -0.20 -0.37 5.59 220.17 -0.62 -0.77 4.59 180.77 Essex Cty -0.20 5.59 219.97 -0.70 4.51 177.55 Mdsx Low -0.20 5.59 219.97 -0.65 4.56 179.52 Mdsx High -0.20 5.59 219.97 -0.60 4.61 181.49 Mdsx Avg -0.20 -0.37 5.59 219.97 -0.63 -0.78 4.59 180.50 Hensall -0.20 5.59 219.97 -0.55 4.66 183.46 Bruce -0.20 5.59 219.97 -0.65 4.56 179.52 Putnam -0.20 5.59 219.97 -0.65 4.56 179.52 Burford -0.20 5.59 219.97 -0.65 4.56 179.52 Port Perry -0.20 5.59 219.97 -0.65 4.56 179.52 Norfolk -0.17 5.62 221.15 -0.61 4.60 181.09 Palmerston -0.25 5.54 218.00 -0.60 4.61 181.49 Varna -0.20 5.59 219.97 -0.60 4.61 181.49 Trenton 0.05 5.84 229.81 -0.65 4.56 179.52 Winchester 0.10 5.89 231.78 -0.45 4.76 187.39 North Gower -0.15 5.64 221.94 -0.60 4.61 181.49 Huron FOB -0.15 5.64 221.94 -0.55 4.66 183.46 Kent FOB -0.17 5.62 221.15 -0.61 4.60 181.09 Lamb FOB -0.17 5.62 221.15 -0.61 4.60 181.09 Mdsx FOB -0.20 -0.20 0.50N/A 5.59 219.97 -0.65 4.56 179.52 FOB SW Que 0.50 6.29 247.53 -0.20 5.01 197.23 Track 0.13 5.91 232.76N/A PROCESSORS Chat-Eth N/A N/A N/A N/A -0.60 4.61 181.49 Jhnstwn-Eth N/A N/A N/A N/A -0.25 4.96 195.27 Aylmer-Eth -0.40 -0.35 0.50 0.55 5.39 212.10 -0.60 4.61 181.49 Sarn-Eth N/A -0.10 0.70 0.75 N/A Cllngwd-Eth -0.10N/A N/A N/A 5.69 223.91-0.30* 4.91 193.30 London-Cas N/A N/A 0.80 0.85 -0.50 4.71 185.42 Pt.Colb-Cas N/A N/A 0.85 0.90 -0.45 4.76 187.39 Cardnl-Cas N/A 0.25 1.10 1.15 -0.45 4.76 187.39 W O Feed 0.12 0.09 5.91 232.57 US Rep 0.95 0.92 6.74 265.24 Toledo El. 0.33 6.12 240.82 -0.34 4.87 191.73 TRANSFER Sarnia N/A N/A Pt. Stanley N/A N/A Hamilton 0.06 5.85230 1/5 -0.25 4.96195 1/4 MID SD CRN -0.62 1/2 4.58 1/2 HI SD CRN -0.60 4.61 *Wet Bid Bank of Canada Noon exchange rate was 1.0285 up 0.0010 Chicago soybeans closed slightly to moderately higher. JUL12 HI 13.86 1/2 NOV12 HI 12.90 LOW 13.71 1/2 LOW 12.68 3/4 CLOSE13.83 1/2 Up 7 1/2 CLOSE 12.89 1/2 Up 13 1/4 OLD CROP NEW CROP Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt ELEVATORS +JUL1+JUL1+AUG12 CK Low -0.40 13.44 493.65-0.45 12.45 457.28 CK High -0.20 13.64 501.00-0.35 12.55 460.95 CK Average -0.29 -0.7013.55 497.82-0.40-0.7812.50 459.11 Essex Cty -0.03 13.81 507.25-0.15 12.75 468.30 Mdsx Low -0.33 13.51 496.22-0.41 12.49 458.75 Mdsx High -0.20 13.64 501.00-0.35 12.55 460.95 Mdsx Average -0.27 -0.6813.57 498.61-0.38-0.7612.52 459.85 Hensall -0.23 13.61 500.08-0.33 12.57 461.87 Bruce -0.20 13.64 501.00-0.35 12.55 460.95 Putnam -0.20 13.64 501.00-0.35 12.55 460.95 Burford -0.33 13.51 496.22-0.41 12.49 458.75 Port Perry -0.36 13.48 495.12-0.44 12.46 457.64 Norfolk -0.18 13.66 501.74-0.35 12.55 460.95 Palmerston -0.40 13.44 493.65-0.40 12.50 459.11 Varna -0.40 13.44 493.65-0.40 12.50 459.11 Trenton -0.38 13.46 494.39-0.35 12.55 460.95 Winchester -0.30 13.54 497.33-0.25 12.65 464.62 North Gower -0.44 13.40 492.18-0.23 12.67 465.36 Huron FOB -0.15 13.69 502.84-0.20 12.70 466.46 Kent FOB -0.22 13.62 500.27-0.40 12.50 459.11 Lambton FOB -0.22 13.62 500.27-0.40 12.50 459.11 Middlesex FOB-0.19-0.17-0.12 N/A 13.65 501.37-0.14 12.76 468.67 PROCESSORS Hamilton 0.05 0.10 0.20 0.45 13.89 510.190.05 12.95 475.65 Windsor 0.20 0.21 0.22 N/A 14.04 515.700.08 12.98 476.75 Winchester -0.32 13.52 496.59-0.25 12.65 464.62 TRANSFER Hamilton 0.35 N/A N/A N/A 14.19 521.210.30 13.20 484.83 Pt. Stanley N/A N/A Sarnia N/A N/A Owen Sound N/A N/A Sorel QC 0.25 14.09 517.540.55 13.45 494.02 Toledo El. -0.18 13.66 501.92-0.29 12.61 463.22 Bank of Canada Noon exchange rate was 1.0285 up 0.0010 Chicago wheat closed moderately higher. JUL12 HI 6.88 1/4 JUL12 HI 6.88 1/4 LOW 6.61 3/4 LOW 6.61 3/4 CLOSE 6.75 Up 12 CLOSE 6.75 Up 12 Minni wheat closed slightly higher. JUL12 HI 7.92 SEP12 HI 7.89 1/2 LOW 7.74 3/4 LOW 7.73 CLOSE 7.80 1/4 Up 5 CLOSE 7.77 1/2 Up 4 GFO Cash Wheat Prices - DEL Terminal Current Crop 11 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M) Basis -0.01 0.77 0.05 -0.18 CAD $/bu 6.74 7.52 6.80 7.62 CAD $/tonne 247.81 276.18 249.70 280.06 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 0.45 -0.25 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 -0.45 N/A Winchester N/A N/A N/A N/A N/A N/A N/A -0.38 Essex N/A N/A -0.45 N/A N/A N/A -0.39 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 -0.32 N/A N/A 0.45 -0.32 N/A Brigden N/A N/A -0.32 N/A N/A 0.45 -0.32 N/A Palmerston N/A 0.46 -0.36 -0.14 N/A 0.50 -0.32 -0.49 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 N/A 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 -0.15 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 0.30N/A 0.77 1.38 0.46N/A Toledo El. 6.77US 6.97CA 6.77US 6.97CA GFO Contract Wheat Prices - DEL Terminal Harvest 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M) Basis 0.35 0.92 0.10 -0.23 CAD $/bu 7.10 7.67 6.85 7.54 CAD $/tonne 261.05 281.86 251.59 277.13 (C)-Basis over the Chicago Board of Trade futures (M)-Basis over the Minneapolis Grain Exchange FEED GRAINS Bayport Wheat 325.00 - 330.00 Bayport Oats 320.00 Bayport Barley 320.00 FOB Hm Soymeal 484.47 - 487.78 DDG's FOB Srn, Wndr, Aylm 225.00 - 252.00