Wednesday June 26, 2013



Commodity
Period
Price
Weekly Movement

 
 
 
 
 
 
 
Corn CBOT
Sept 
5.74   
?
36 ¼ 
cents
Soybeans CBOT
Aug
14.25 ¼     
?
21 ¾   
cents
Wheat CBOT
Sept
6.77  
?
37 ¼  
cents
Wheat Minn.
Sept
7.82 ½   
?
12 ¼   
cents
Wheat Kansas
Sept
7.06     
?
34 ½    
cents
 
 
 


 
Canadian $
Sept
0.9518
?
226
points

CORN: 
The planted corn acres in Ontario are down about 1.6% to an estimated 2.2 million according to Statistics Canada’s most recent report. While rains and warm temperatures have been mixed throughout the province, it seems a number of places are seeing corn developing well. Some producers on social media are reporting corn as high as their waists this week. 
In the US, the good to excellent rating is up one percentage point from last week to 65%. That is up nine percentage points from last year. Bloomberg is reporting that overall planted acres will be down in Friday’s report as a result of the rains this year.

SOYBEANS: 
Similar to corn, the US will see fewer soybean acres planted as a result of rains. The US crop was rated 65% good to excellent. That is up one percentage point from last week and 12 percentage points from last year. The overall completed planted is at 92% which is down from the five-year average of 95%. 
In Ontario, soybean planting is down 1.5% from last year to 2.6 million acres. Some areas are seeing development into the fourth trifoliate stages with warmer weather in parts of the province. 

WHEAT: 
In advance of Friday’s USDA report on estimated planting and quarterly stocks, markets remained fairly neutral at the end of last week and moved into a more bearish trend this week. In the US, both winter and spring wheat week ratings of good to excellent were higher at 32% for winter and 70% for spring. However, these numbers are still behind last year’s numbers. Winter wheat is behind by 22 percentage points and spring wheat is behind by seven percentage points. Similarly, planting rates are behind at 96% planted versus the five-year average of 99% planted for this time of year. 
Statistics Canada recently reported the overall acreage reports and Canadian wheat production numbers are up 9.3% to 25.9 million acres. The bulk of that increase from 2012 comes from spring wheat planting. 

2013 Harvest contract prices for June 26, 2013 at close are as follows:
SWW at $243.97 per tonne ($6.64/bu.), SRW at $226.60 per tonne ($6.17/bu.), HRW at $240.11 per tonne ($6.53/bu.), and HRS at $271.19 per tonne ($7.19/bu.)


       Ontario Grain Market Commentary for June 26, 2013
       Grain Farmers of Ontario