Wednesday September 19, 2012 



Commodity
Period
Price  
Weekly Movement - Thursday to Friday
 
 
 
 
 
 
 
 
Corn CBOT
Dec
7.5375
?
28.75
cents
Soybeans CBOT
Nov
16.6950
?
76.75
cents
Wheat CBOT
Dec
8.7925
?
42.25
cents
Wheat Minn.
Dec
9.3900
?
36.50
cents
Wheat Kansas
Dec
9.0000
?
41.50
cents
 
 
 
 
 
 
Canadian $
Dec
1.0243
?
61.00
points

The TSX edged higher on Wednesday as the Bank of Japan joined the club of monetary easing central banks as witnessed prior in England, China and the US Federal reserve among others. The Japanese central bank reacted after a persistent weakening in exports and a prolonged slowdown in China’s economy. The bank eased monetary policy by boosting its asset-buying program to try to encourage consumer spending in the world's third largest economy. Energy shares dropped as crude oil prices fell below $95/barrel on Wednesday. 
Corn
Corn rose in Chicago at midday. Corn futures continue to enjoy market gains, trading mostly within a 10 cent range. Prices are firming but remain well below market highs. Recently, the ethanol industry cut back on production rates due to the recent price spikes, but that trend seems to be returning back to normal levels given lower corn prices. The poultry sector is likely to be one of the first venues to reflect the recent spike in Corn, since chickens grown for meat have a short lifespan compared to hogs or beef cattle and would likely reflect the recent market changes. 
Soybeans
Soybeans rose in Chicago after falling last week on expectations that crop yields across the drought-stricken US Midwest will exceed forecasts as harvesting moves at a record pace. Concerns remain as to whether world demand would be satisfied given the recent weather experienced in South America. Some farmers in North Dakota and Minnesota reported record high farm yields for soybean, benefiting from the late summer rains.




WHEAT
Wheat is up in Chicago after rising interest in buying from the recent lower prices. Wheat also found support from South Korean intention to purchase a combined 500,000 tonnes of wheat and other grains for feed in 2014, amounting to 5% of the country’s annual demand, to secure supplies in the event another price spike.
Contract prices for September 19th, 2012 at 3pm, are as follows:
SWW at $297.11 per tonne ($8.09 /bu), HRW at $304.27 per tonne ($8.28 /bu.),
HRS at $305.98 per tonne ($8.33/bu.), and SRW at $284.57 per tonne ($7.74 /bu.).
       Ontario Grain Market Commentary for September 19, 2012
       By Ahmed Chilmeran, Grain Farmers of Ontario