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<DIV>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, July 18<BR>(All Bases in CAD)<BR>Bank of Canada Noon exchange rate was 1.0112 down 0.0029<BR>Chicago corn closed moderately higher to higher.</DIV>
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<DIV> SEP12 HI 7.97 DEC12 HI 7.85 3/4<BR> LOW 7.63 1/2 LOW 7.55 3/4<BR> CLOSE7.95 Up 15 1/2 CLOSE 7.84 1/4 Up 13</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 +SEP12+SEP12+DEC12<BR>CK Low -0.20 7.75 305.10 -0.85 6.99 275.28<BR>CK High -0.15 7.80 307.07 -0.75 7.09 279.22<BR>CK Avg -0.17 -0.27 7.78 306.22 -0.80 -0.91 7.04 277.25<BR>Essex Cty -0.20 7.75 305.10 -0.90 6.94 273.31<BR>Mdsx Low -0.20 7.75 305.10 -0.85 6.99 275.28<BR>Mdsx High -0.15 7.80 307.07 -0.80 7.04 277.25<BR>Mdsx Avg -0.18 -0.27 7.78 306.09 -0.83 -0.94 7.02 276.27<BR>Hensall -0.15 7.80 307.07 -0.83 7.02 276.27<BR>Bruce -0.15 7.80 307.07 -0.85 6.99 275.28<BR>Putnam -0.15 7.80 307.07 -0.85 6.99 275.28<BR>Burford -0.20 7.75 305.10 -0.80 7.04 277.25<BR>Port Perry -0.10 7.85 309.04 -0.85 6.99 275.28<BR>Norfolk -0.18 7.77 305.89 -0.80 7.04 277.25<BR>Palmerston -0.15 7.80 307.07 -1.00 6.84 269.38<BR>Varna -0.15 7.80 307.07 -0.95 6.89 271.35<BR>Trenton 0.00 7.95 312.98 -0.88 6.96 274.10<BR>Winchester 0.25 8.20 322.82 -0.70 7.14 281.19<BR>North Gower 0.20 8.15 320.85 -0.96 6.88 270.95<BR>Huron FOB -0.10 7.85 309.04 -0.80 7.04 277.25<BR>Kent FOB -0.18 7.77 305.89 -0.80 7.04 277.25<BR>Lamb FOB -0.18 7.77 305.89 -0.80 7.04 277.25<BR>Mdsx FOB N/A 0.00N/A N/A -0.80 7.04 277.25<BR>FOB SW Que 0.29 8.24 324.39 -0.60 7.24 285.12<BR>Track 0.30 8.25 324.79N/A<BR>PROCESSORS<BR>Chat-Eth N/A N/A N/A N/A -0.65 7.19 283.16<BR>Jhnstwn-Eth N/A N/A N/A N/A -0.65 7.19 283.16<BR>Aylmer-Eth N/A -0.10 -0.05 -0.75 -0.75 7.09 279.22<BR>Sarn-Eth N/A N/A 0.00 -0.55 -0.55 7.29 287.09<BR>Cllngwd-Eth N/A N/A N/A N/A N/A*<BR>London-Cas N/A N/A N/A N/A -0.75 7.09 279.22<BR>Pt.Colb-Cas N/A N/A 0.70 -0.70 -0.60 7.24 285.12<BR>Cardnl-Cas N/A N/A 0.70 -0.70 -0.60 7.24 285.12<BR>W O Feed 0.33 0.32 8.28 325.97</DIV>
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<DIV>US Rep 0.95 0.94 8.90 350.38<BR>Toledo El. 0.32 8.27 325.73 0.07 7.91 311.54</DIV>
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<DIV>TRANSFER<BR>Sarnia N/A N/A<BR>Pt. Stanley N/A N/A<BR>Hamilton 0.32 8.27325 4/7 -0.63 7.21284</DIV>
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<DIV>MID SD CRN -0.80 7.04 1/4<BR>HI SD CRN -0.75 7.09 1/4<BR>*Wet Bid</DIV>
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<DIV><BR>Bank of Canada Noon exchange rate was 1.0112 down 0.0029<BR>Chicago soybeans closed mixed.</DIV>
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<DIV> AUG12 HI 16.85 1/2 NOV12 HI 16.22<BR> LOW 16.26 LOW 15.76<BR> CLOSE16.83 1/2 Up 44 1/2 CLOSE 16.20 Up 29 1/2</DIV>
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<DIV> OLD CROP NEW CROP<BR>Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt<BR>ELEVATORS +AUG1+NOV1+NOV12<BR>CK Low -0.52 16.32 599.47-0.65 15.55 571.36<BR>CK High -0.27 16.57 608.66-0.54 15.66 575.41<BR>CK Average -0.37 -0.5716.47 605.17-0.57-0.8015.63 574.43<BR>Essex Cty -0.13 16.71 613.80-0.44 15.76 579.08<BR>Mdsx Low -0.46 16.38 601.68-0.57 15.63 574.30<BR>Mdsx High -0.30 16.54 607.56-0.55 15.65 575.04<BR>Mdsx Average -0.38 -0.5816.46 604.62-0.56-0.8015.64 574.67<BR>Hensall -0.30 16.54 607.56-0.55 15.65 575.04<BR>Bruce -0.30 16.54 607.56-0.55 15.65 575.04<BR>Putnam -0.30 16.54 607.56-0.55 15.65 575.04<BR>Burford -0.46 16.38 601.68-0.57 15.63 574.30<BR>Port Perry -0.49 16.35 600.58-0.60 15.60 573.20<BR>Norfolk -0.23 16.61 610.13-0.49 15.71 577.24<BR>Palmerston -0.40 16.44 603.88-0.65 15.55 571.36<BR>Varna -0.40 16.44 603.88-0.60 15.60 573.20<BR>Trenton -0.55 16.29 598.37-0.50 15.70 576.88<BR>Winchester -0.61 16.23 596.17-0.48 15.72 577.61<BR>North Gower -0.25 16.59 609.39-0.53 15.67 575.77<BR>Huron FOB -0.25 16.59 609.39-0.45 15.75 578.71<BR>Kent FOB -0.27 16.57 608.66-0.54 15.66 575.41<BR>Lambton FOB -0.27 16.57 608.66-0.54 15.66 575.41<BR>Middlesex FOB-0.35-0.35 N/A N/A 16.49 605.72-0.31 15.89 583.86</DIV>
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<DIV>PROCESSORS<BR>Hamilton 0.20 0.50 0.35 0.00 17.04 625.930.00 16.20 595.25<BR>Windsor 0.10 -0.05 N/A N/A 16.94 622.25-0.21 15.99 587.53<BR>Winchester -0.50 16.34 600.21-0.37 15.83 581.65</DIV>
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<DIV>TRANSFER<BR>Hamilton 0.15 N/A N/A N/A 16.99 624.090.05 16.25 597.09<BR>Pt. Stanley N/A N/A<BR>Sarnia N/A N/A<BR>Owen Sound N/A N/A<BR>Sorel QC -0.15 16.69 613.070.05 16.25 597.09</DIV>
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<DIV>Toledo El. 0.02 16.86 619.32-0.28 15.92 584.81</DIV>
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<DIV><BR>Bank of Canada Noon exchange rate was 1.0112 down 0.0029<BR>Chicago wheat closed mixed.<BR>SEP12 HI 9.07 3/4 JUL13 HI 8.45 3/4<BR> LOW 8.65 1/2 LOW 8.32 3/4<BR> CLOSE 9.03 1/4 Up 18 1/4 CLOSE 8.36 3/4 Down 3 3/4</DIV>
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<DIV>Minni wheat closed slightly to moderately higher.<BR>SEP12 HI 10.01 3/4 SEP13 HI 9.00<BR> LOW 9.70 3/4 LOW 8.96<BR> CLOSE 9.98 Up 12 1/4 CLOSE 9.00 Up 2 1/2</DIV>
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<DIV>GFO Cash Wheat Prices - DEL Terminal<BR>Current Crop 12 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)<BR>Basis 0.01 0.26 -0.45 -0.69<BR>CAD $/bu 9.04 9.29 8.58 9.29<BR>CAD $/tonne 332.17 341.46 315.43 341.37</DIV>
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<DIV><BR>Direct MarkHarvest 2012 Harvest 2013<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 0.05 -0.60 N/A N/A -0.05 -0.65 N/A<BR>London -0.16 0.09 -0.92 N/A -0.27 -0.06 -0.83 N/A<BR>Hensall -0.35 N/A -0.60 N/A -0.25 N/A -0.65 N/A<BR>Trenton N/A N/A -0.85 N/A N/A N/A -1.05 N/A<BR>Winchester N/A N/A N/A -0.69 N/A N/A N/A N/A<BR>Essex N/A N/A -0.80 N/A N/A N/A -0.90 N/A<BR>Norwich -0.25 N/A -0.60 N/A -0.25 N/A -0.65 N/A<BR>Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A<BR>Kent Bridge -0.25 N/A -0.65 N/A -0.25 N/A -0.75 N/A<BR>Chatham N/A 0.05 -0.64 N/A N/A 0.05 -0.75 N/A<BR>Brigden N/A 0.05 -0.64 N/A N/A 0.05 -0.75 N/A<BR>Palmerston N/A 0.13 -0.68 -0.61 N/A -0.07 -0.89 -0.83<BR>Varna 0.00 0.05 -0.65 N/A N/A 0.00 -0.80 N/A<BR>Mitchell -0.40 0.15 -0.60 N/A -0.25 0.00 -0.65 N/A<BR>Thornton N/A N/A N/A N/A N/A N/A N/A N/A<BR>North Gower N/A N/A N/A -0.84 N/A N/A N/A N/A</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 -0.70 N/A N/A N/A -0.50 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 0.46 1.12 0.21N/A N/A N/A 0.22N/A</DIV>
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<DIV>Toledo El. 9.10US 9.21CA 8.34US 8.46CA</DIV>
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<DIV>GFO Contract Wheat Prices - DEL Terminal<BR>Harvest 13 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)<BR>Basis -0.18 0.22 -0.54 -0.73<BR>CAD $/bu 8.19 8.59 7.83 8.27<BR>CAD $/tonne 300.76 315.67 287.71 303.84</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 350.00 - 360.00<BR>Bayport Oats 340.00<BR>Bayport Barley 340.00<BR>FOB Hm Soymeal 632.74 - 634.94<BR>DDG's FOB Srn, Wndr, Aylm 245.00 - 265.00<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>