Wednesday September 4, 2013



Commodity
Period
Price 
Weekly Movement
Corn CBOT
Dec. 
4.69 ½ 
?
11 ¼ 
cents
Soybeans CBOT
Nov.
13.52 ½ 
?
20 ¼ 
cents
Wheat CBOT
Dec.
6.46 ¼ 
?
13 ¼ 
cents
Wheat Minn.
Dec.
7.22
?
18 ½ 
cents
Wheat Kansas
Dec.
6.98 ½ 
?
11 ¾ 
cents
 
 



 
Canadian $
Sept
0.9527
?
5
points

CORN: 
In the USDA Crop Progress Report released on September 1, the corn crop ratings continued to weaken. The very poor to poor rating increased two percentage points from last week to 16 percent this week. The good to excellent rating numbers were reduced another three percentage points from last week to 56 percent this week. 
New this week, the numbers for the crop maturation rates were released and came in at four percent. This is off the five-year average of 17 percent. The dough stage progression continues to move and is at 84 percent this week and the dented stage of the crop is at 42 percent this week. 
Since Wednesday, August 28, corn has maintained a modest trading range. A slight boost to the market on Tuesday, September 3, was short-lived and the downward trend continues. The USDA is releasing their WASDE report on Thursday, September 12, at 12:15pm. 

SOYBEANS: 
The USDA Crop Progress Report once again decreased the soybean crop ratings. The very poor to poor rating increased two percentage points from last week to 15 percent this week and the good to excellent rating dropped four percentage points to 54 percent this week, as recent dryness and heat have affected the soybean plants. 
Soybean futures finished lower at the end of last week but rebounded on Tuesday, September 3 to break through the $14 per bushel trading. However, that was quick and the markets shifted back to their bearish movement. Soybean movement is still setting the pace for the market movement. It is evident this is still very much hinging on current and prospective weather. Rains are needed and there are some scattered showers in the near future but will it be enough? Time will tell. 



WHEAT: 
Spring wheat harvest is up 22 percentage points from last week to come in at 64 percent complete this week. The spring wheat condition ratings improved this week. The good to excellent rating increased three percentage points to come in at 70 percent this week. The very poor to poor rating decreased one percentage point to six percent this week. 

Both the winter wheat and spring wheat markets had similar trends in the past week. Both continued to be bearish towards the end of the week. On Tuesday, September 3, there was a slight bounce in the markets but as with other markets, it was short-lived and the bears continued Wednesday, September 4. 



2013 Harvest contract prices for September 4, 2013 at close are as follows:
SWW at $226.10 per tonne ($6.15/bu.), SRW at $214.52 per tonne ($5.84/bu.), HRW at $228.02 per tonne ($6.21/bu.), and HRS at $243.74 per tonne ($6.63/bu.)

       Ontario Grain Market Commentary for September 4, 2013 
       Grain Farmers of Ontario