FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Fri, July 25 (All Bases in CAD) Bank of Canada Noon exchange rate was 1.0814 up 0.0072 Chicago corn closed slightly higher. SEP14 HI 3.63 1/2 DEC14 HI 3.72 LOW 3.57 LOW 3.64 3/4 CLOSE3.63 Up 1 1/2 CLOSE 3.71 3/4 Up 2 1/4 OLD CROP BASIS NEW CROP BASIS Location Spot 1mt 2mt 3mt Adj $/bu $/mt Cntrct Adj $/bu $/mt ELEVATORS +SEP14+DEC14+DEC14 CK Low 0.25 3.88 152.75 -0.05 3.67 144.38 CK High 0.30 3.93 154.72 0.00 3.72 146.35 CK Avg 0.26 -0.04 3.89 153.08 -0.03 -0.34 3.68 145.04 Essex Cty 0.25 3.88 152.75 -0.10 3.62 142.41 Mdsx Low 0.25 3.88 152.75 -0.05 3.67 144.38 Mdsx High 0.25 3.88 152.75 0.00 3.72 146.35 Mdsx Avg 0.25 -0.05 3.88 152.75 -0.03 -0.33 3.69 145.37 Hensall 0.28 3.91 153.73 0.00 3.72 146.35 Bruce 0.25 3.88 152.75 0.00 3.72 146.35 Putnam 0.25 3.88 152.75 0.00 3.72 146.35 Burford 0.25 3.88 152.75 -0.05 3.67 144.38 Port Perry 0.15 3.78 148.81 -0.05 3.67 144.38 Norfolk 0.25 3.88 152.75 -0.05 3.67 144.38 Palmerston 0.50 4.13 162.59 -0.05 3.67 144.38 Varna 0.25 3.88 152.75 -0.05 3.67 144.38 Trenton 0.30 3.93 154.72 -0.05 3.67 144.38 Winchester 0.45 4.08 160.62 0.20 3.92 154.23 North Gower 0.47 4.10 161.41 0.25 3.97 156.19 Huron FOB 0.50 4.13 162.59 0.00 3.72 146.35 Kent FOB 0.25 3.88 152.75 -0.05 3.67 144.38 Lamb FOB 0.25 3.88 152.75 -0.05 3.67 144.38 Mdsx FOB 0.60 0.60 0.60N/A 4.23 166.53 -0.05 3.67 144.38 FOB SW Que 1.25 4.88 192.12 0.40 4.12 162.10 Track 0.75 4.38 172.43N/A PROCESSORS Chat-Eth 0.40 0.45 0.45 0.05 4.03 158.65 0.05 3.77 148.32 Jhnstwn-Eth N/A N/A N/A N/A N/A Aylmer-Eth 0.40 0.45 0.45 0.05 4.03 158.65 0.05 3.77 148.32 Sarn-Eth N/A 0.80 0.80 0.80 0.15 3.87 152.26 Cllngwd-Eth N/A N/A N/A N/A N/A* London-Ing N/A 0.55 0.55 0.65 0.20 3.92 154.23 Pt.Colb-Ing 0.65 0.70 0.70 0.75 4.28 168.50 0.30 4.02 158.16 Cardnl-Ing N/A N/A 0.65 0.75 0.35 4.07 160.13 W O Feed 1.01 0.92 4.64 182.67 US Rep 0.80 0.71 4.43 174.40 Toledo El. -0.13 3.50 137.79 -0.30 3.41 134.41 TRANSFER Sarnia N/A N/A Pt. Stanley N/A N/A Hamilton 0.85 4.48176 3/8 0.20 3.92154 2/9 MID SD CRN -0.02 1/2 3.69 1/4 HI SD CRN 0.00 3.71 3/4 *Wet Bid Bank of Canada Noon exchange rate was 1.0814 up 0.0072 Chicago soybeans closed mixed. AUG14 HI 12.14 1/2 NOV14 HI 10.87 1/4 LOW 11.97 3/4 LOW 10.70 1/4 CLOSE12.12 1/4 Up 4 3/4 CLOSE 10.83 1/2 Down 1 1/4 OLD CROP NEW CROP Location Basis 1mt 2mt 3mt Adj. $/bu $/mt BasisAdj. $/bu $/mt ELEVATORS +AUG1+AUG1+NOV14 CK Low 1.58 13.70 503.480.19 11.03 405.10 CK High 1.65 13.77 506.050.25 11.09 407.30 CK Average 1.61 0.61 13.74 504.710.21 -0.6911.04 405.71 Essex Cty 1.87 13.99 514.140.37 11.21 411.71 Mdsx Low 1.60 13.72 504.220.17 11.01 404.36 Mdsx High 1.65 13.77 506.050.20 11.04 405.47 Mdsx Average 1.63 0.62 13.75 505.130.19 -0.7111.02 404.92 Hensall 1.60 13.72 504.220.20 11.04 405.47 Bruce 1.60 13.72 504.220.20 11.04 405.47 Putnam 1.60 13.72 504.220.15 10.99 403.63 Burford 1.68 13.80 507.160.20 11.04 405.47 Port Perry 1.65 13.77 506.050.17 11.01 404.36 Norfolk 1.58 13.70 503.480.20 11.04 405.47 Palmerston 1.80 13.92 511.560.15 10.99 403.63 Varna 1.60 13.72 504.220.20 11.04 405.47 Trenton 1.51 13.63 500.910.20 11.04 405.47 Winchester 1.61 13.73 504.580.60 11.44 420.16 North Gower 1.64 13.76 505.690.62 11.46 420.90 Huron FOB 1.70 13.82 507.890.50 11.34 416.49 Kent FOB 1.58 13.70 503.480.20 11.04 405.47 Lambton FOB 1.58 13.70 503.480.20 11.04 405.47 Middlesex FOB1.74 N/A N/A N/A 13.86 509.360.37 11.21 411.71 PROCESSORS Hamilton 2.10 N/A N/A N/A 14.22 522.590.68 11.52 423.10 Windsor 2.10 1.95 N/A N/A 14.22 522.590.59 11.43 419.80 Winchester N/A N/A TRANSFER Hamilton 2.15 N/A N/A N/A 14.27 524.420.55 11.39 418.33 Pt. Stanley N/A N/A Sarnia N/A N/A Owen Sound N/A N/A Sorel QC 2.05 14.17 520.751.32 12.16 446.62 Toledo El. 0.73 12.85 472.09-0.25 10.59 388.97 Bank of Canada Noon exchange rate was 1.0814 up 0.0072 Chicago wheat closed slightly higher. SEP14 HI 5.38 1/2 JUL15 HI 6.09 LOW 5.26 1/2 LOW 5.96 CLOSE 5.38 Up 9 1/4 CLOSE 6.08 1/4 Up 7 3/4 Minni wheat closed slightly higher. SEP14 HI 6.29 JUL15 HI 6.61 1/2 LOW 6.17 LOW 6.51 3/4 CLOSE 6.27 3/4 Up 8 CLOSE 6.61 1/2 Up 8 1/2 GFO Cash Wheat Prices - DEL Terminal Current Crop 14 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M) Basis 0.34 0.50 -0.15 -0.29 CAD $/bu 5.72 5.88 5.23 5.99 CAD $/tonne 210.10 216.07 192.19 219.95 Direct MarkHarvest 2014 Harvest 2015 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 0.30 -0.30 N/A N/A N/A -0.40 N/A London 0.30 0.25 -0.29 N/A 0.10 -0.22 -0.44 N/A Hensall 0.40 N/A -0.25 N/A 0.10 N/A -0.45 N/A Trenton N/A N/A -0.30 N/A N/A N/A N/A N/A Winchester N/A N/A N/A 0.05 N/A N/A N/A N/A Essex N/A N/A -0.25 N/A N/A N/A -0.48 N/A Norwich 0.40 N/A -0.25 N/A 0.10 N/A -0.45 N/A Mt. Elgin N/A N/A N/A N/A N/A N/A N/A N/A Kent Bridge 0.50 N/A -0.25 N/A 0.10 N/A -0.45 N/A Chatham N/A N/A -0.30 N/A N/A N/A -0.45 N/A Brigden N/A N/A -0.30 N/A N/A N/A -0.45 N/A Palmerston N/A 0.52 -0.34 -0.38 N/A 0.41 -0.40 N/A Varna 0.30 0.50 -0.30 N/A 0.10 0.40 -0.40 N/A Mitchell 0.40 0.30 -0.25 N/A 0.10 0.05 -0.45 N/A Thornton N/A N/A N/A -1.04 N/A N/A N/A N/A North Gower N/A N/A N/A -0.28 N/A N/A N/A N/A 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 -0.30 N/A Pt. Stanley N/A N/A N/A N/A N/A N/A N/A N/A PROCESSORS Toledo FM 1.15N/A 0.72N/A 1.21N/A 0.72N/A Toledo El. 5.40US 5.85CA 5.85US 6.34CA GFO Contract Wheat Prices - DEL Terminal Harvest 15 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M) Basis 0.13 0.13 -0.31 -0.43 CAD $/bu 6.21 6.21 5.77 6.19 CAD $/tonne 228.11 228.11 212.19 227.41 (C)-Basis over the Chicago Board of Trade futures (M)-Basis over the Minneapolis Grain Exchange FEED GRAINS Bayport Wheat 290.00 - 340.00 Bayport Oats 315.00 Bayport Barley 270.00 FOB Hm Soymeal 571.01 - 575.42 DDG's FOB Srn & Aylm 205.00