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<div>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, August 18</div>
<div>(All Bases in CAD)</div>
<div>Bank of Canada Noon exchange rate was 1.2775 down 0.0110</div>
<div>Chicago corn closed slightly higher.</div>
<div><br>
</div>
<div> SEP16 HI 3.33 DEC16 HI 3.43</div>
<div> LOW 3.26 1/2 LOW 3.36 1/4</div>
<div> CLOSE3.32 Up 1 3/4 CLOSE 3.42 Up 2 1/4</div>
<div><br>
</div>
<div> OLD CROP BASIS NEW CROP BASIS</div>
<div>Location Spot 1mt 2mt 3mt U.S. $/bu $/mt Cntrct U.S. $/bu $/mt</div>
<div>ELEVATORS +DEC16+DEC16+DEC16</div>
<div>CK Low 1.15 4.47 175.98 0.85 4.27 168.10</div>
<div>CK High 1.15 4.47 175.98 0.85 4.27 168.10</div>
<div>CK Avg 1.15 0.18 4.47 175.98 0.85 -0.07 4.27 168.10</div>
<div>Essex Cty 1.15 4.47 175.98 0.85 4.27 168.10</div>
<div>Mdsx Low 1.15 4.47 175.98 0.85 4.27 168.10</div>
<div>Mdsx High 1.15 4.47 175.98 0.85 4.27 168.10</div>
<div>Mdsx Avg 1.15 0.18 4.47 175.98 0.85 -0.07 4.27 168.10</div>
<div>Hensall 1.15 4.47 175.98 0.88 4.30 169.09</div>
<div>Bruce 1.15 4.47 175.98 0.85 4.27 168.10</div>
<div>Putnam 1.15 4.47 175.98 0.85 4.27 168.10</div>
<div>Burford 1.15 4.47 175.98 0.85 4.27 168.10</div>
<div>Port Perry 1.15 4.47 175.98 0.85 4.27 168.10</div>
<div>Norfolk 1.15 4.47 175.98 0.90 4.32 170.07</div>
<div>Palmerston 1.15 4.47 175.98 0.85 4.27 168.10</div>
<div>Varna 1.15 4.47 175.98 0.90 4.32 170.07</div>
<div>Trenton 1.20 4.52 177.94 0.85 4.27 168.10</div>
<div>Winchester 1.25 4.57 179.91 1.10 4.52 177.94</div>
<div>North Gower 1.27 4.59 180.70 0.98 4.40 173.22</div>
<div>Huron FOB 1.30 4.62 181.88 0.90 4.32 170.07</div>
<div>Kent FOB 1.30 4.62 181.88 0.85 4.27 168.10</div>
<div>Lamb FOB 1.30 4.62 181.88 0.85 4.27 168.10</div>
<div>Mdsx FOB 1.25N/A N/A N/A 4.57 179.91 0.85 4.27 168.10</div>
<div>FOB SW Que 1.74 5.06 199.20N/A</div>
<div>Track 1.63 4.95 194.68N/A</div>
<div>PROCESSORS</div>
<div>Chat-Eth N/A N/A N/A N/A N/A</div>
<div>Jhnstwn-Eth N/A N/A N/A N/A N/A</div>
<div>Aylmer-Eth N/A 1.45N/A 1.00 1.00 4.42 174.01</div>
<div>Sarn-Eth 1.50 1.50 1.15N/A 4.82 189.76 1.15 4.57 179.91</div>
<div>Kawartha N/A N/A N/A N/A N/A</div>
<div>London-Ing N/A N/A 1.59 0.97 0.97 4.39 172.83</div>
<div>Pt.Colb-Ing N/A N/A N/A N/A N/A</div>
<div>Cardnl-Ing N/A N/A 1.35 1.15 1.15 4.57 179.91</div>
<div>W O Feed 1.73 5.05 198.81</div>
<div><br>
</div>
<div>US Rep 1.77 5.09 200.38</div>
<div>Toledo El. 0.09 3.41 134.22 -0.26 3.16 124.60</div>
<div><br>
</div>
<div><br>
</div>
<div>MID SD CRN 0.85 4.271</div>
<div>HI SD CRN 0.85 4.271</div>
<div>*Wet Bid</div>
<div><br>
</div>
<div><br>
</div>
<div>Bank of Canada Noon exchange rate was 1.2775 down 0.0110</div>
<div>Chicago soybeans closed narrowly mixed.</div>
<div><br>
</div>
<div> NOV16 HI 10.17 1/2 NOV16 HI 10.17 1/2</div>
<div> LOW 9.96 1/4 LOW 9.96 1/4</div>
<div> CLOSE10.14 1/2 Down 1 1/2 CLOSE 10.14 1/2 Down 1 1/2</div>
<div><br>
</div>
<div> OLD CROP NEW CROP</div>
<div>Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt</div>
<div>ELEVATORS +NOV1+NOV1+NOV16</div>
<div>CK Low 2.74 12.89 473.442.35 12.50 459.11</div>
<div>CK High 2.85 13.00 477.482.45 12.60 462.79</div>
<div>CK Average 2.80 -0.0112.94 475.592.40 -0.3112.55 461.01</div>
<div>Essex Cty 2.85 13.00 477.482.35 12.50 459.11</div>
<div>Mdsx Low 2.72 12.87 472.712.39 12.54 460.58</div>
<div>Mdsx High 2.80 12.95 475.652.40 12.55 460.95</div>
<div>Mdsx Average 2.76 -0.0412.91 474.182.40 -0.3112.54 460.77</div>
<div>Hensall 2.83 12.97 476.572.40 12.55 460.95</div>
<div>Bruce 2.80 12.95 475.652.40 12.55 460.95</div>
<div>Putnam 2.80 12.95 475.652.30 12.45 457.28</div>
<div>Burford 2.75 12.90 473.812.42 12.57 461.68</div>
<div>Port Perry 2.72 12.87 472.712.39 12.54 460.58</div>
<div>Norfolk 2.80 12.95 475.652.40 12.55 460.95</div>
<div>Palmerston 2.85 13.00 477.482.35 12.50 459.11</div>
<div>Varna 2.85 13.00 477.482.40 12.55 460.95</div>
<div>Trenton N/A 2.60 12.75 468.30</div>
<div>Winchester N/A 2.60 12.75 468.30</div>
<div>North Gower N/A 2.49 12.64 464.26</div>
<div>Huron FOB 2.95 13.10 481.162.50 12.65 464.62</div>
<div>Kent FOB 2.95 13.10 481.162.45 12.60 462.79</div>
<div>Lambton FOB 3.10 13.25 486.672.55 12.70 466.46</div>
<div>Middlesex FOB2.96 N/A N/A 2.56 13.11 481.532.49 12.64 464.26</div>
<div><br>
</div>
<div>PROCESSORS</div>
<div>Hamilton 3.35 3.35 2.82 2.90 13.50 495.862.82 12.97 476.38</div>
<div>Windsor N/A N/A N/A N/A N/A</div>
<div>Winchester N/A N/A</div>
<div><br>
</div>
<div>TRANSFER</div>
<div>Prescott 2.00 12.15 446.252.85 13.00 477.48</div>
<div><br>
</div>
<div>Toledo El. 0.06 10.21 375.11-0.41 9.74 357.77</div>
<div><br>
</div>
<div><br>
</div>
<div>Bank of Canada Noon exchange rate was 1.2775 down 0.0110</div>
<div>Chicago wheat closed slightly higher.</div>
<div>SEP16 HI 4.28 JUL17 HI 4.83 1/2</div>
<div> LOW 4.20 LOW 4.78 1/2</div>
<div> CLOSE 4.27 Up 1 CLOSE 4.83 Up 1 1/4</div>
<div><br>
</div>
<div>Minni wheat closed mixed.</div>
<div>SEP16 HI 5.29 SEP17 HI 5.60</div>
<div> LOW 5.22 1/4 LOW 5.58</div>
<div> CLOSE 5.27 3/4 Up 3 1/2 CLOSE 5.58 1/2 Down 1/4</div>
<div><br>
</div>
<div>GFO Cash Wheat Prices - DEL Terminal</div>
<div>Harvest 16 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)</div>
<div>Basis 0.48 0.35 0.67 0.44</div>
<div>CAD $/bu 4.75 4.62 4.94 5.72</div>
<div>CAD $/tonne 174.52 169.83 181.56 210.06</div>
<div><br>
</div>
<div><br>
</div>
<div>Direct MarkHarvest 2016 Harvest 2017</div>
<div> DELIVERED BASIS DELIVERED BASIS</div>
<div>Location SWW(C) HRW(C) SRW(C) HRS(M) SWW(C) HRW(C) SRW(C) HRS(M)</div>
<div>ELEVATORS</div>
<div>Brgssvll N/A 0.35 0.35 N/A N/A N/A 0.40 N/A</div>
<div>London 0.41 0.24 0.37 N/A 0.45 0.32 0.39 N/A</div>
<div>Hensall 0.35 N/A 0.30 N/A 0.55 N/A 0.40 N/A</div>
<div>Trenton N/A N/A 0.50 N/A N/A N/A 0.45 N/A</div>
<div>Winchester N/A N/A N/A N/A N/A N/A N/A N/A</div>
<div>Essex N/A N/A 0.35 N/A N/A N/A 0.30 N/A</div>
<div>Norwich 0.35 N/A 0.30 N/A 0.55 N/A 0.40 N/A</div>
<div>Port Hope N/A 0.50 0.40 0.50 N/A 0.35 0.45 N/A</div>
<div>Kent Bridge 0.35 N/A 0.30 N/A 0.55 N/A 0.40 N/A</div>
<div>Chatham N/A 0.30 0.35 N/A N/A N/A 0.40 N/A</div>
<div>Brigden N/A N/A 0.35 N/A N/A N/A 0.40 N/A</div>
<div>Palmerston N/A 0.30 0.35 0.35 N/A 0.40 0.45 0.50</div>
<div>Varna 0.40 0.30 0.35 N/A 0.50 0.40 0.40 N/A</div>
<div>Mitchell 0.35 0.30 0.30 N/A 0.55 0.35 0.40 N/A</div>
<div>Thornton N/A N/A N/A 0.11 N/A N/A N/A N/A</div>
<div>North Gower N/A 0.38 0.70 0.47 N/A N/A N/A N/A</div>
<div><br>
</div>
<div>TERMINAL</div>
<div>Prescott N/A 0.60 0.80 0.40 N/A 0.60 0.65 0.45</div>
<div><br>
</div>
<div>PROCESSORS</div>
<div>Toledo FM N/A N/A 1.18 N/A N/A N/A 1.33 N/A</div>
<div><br>
</div>
<div>Toledo El. 4.20US 5.36CA 4.63US 5.90CA</div>
<div><br>
</div>
<div>GFO Contract Wheat Prices - DEL Terminal</div>
<div>Harvest 17 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)</div>
<div>Basis 0.69 0.63 0.37</div>
<div>CAD $/bu 5.52 5.46 5.20</div>
<div>CAD $/tonne 202.88 200.54 191.17</div>
<div><br>
</div>
<div>(C)-Basis over the Chicago Board of Trade futures</div>
<div>(M)-Basis over the Minneapolis Grain Exchange</div>
<div><br>
</div>
<div>FEED GRAINS</div>
<div>FOB Hm Soymeal 520.74</div>
<div>DDG's FOB Srn & Aylm 170.00 - 180.00</div>
<div><br>
</div>
<div>-----</div>
<div>Ontario Grain Market Commentary for August 17, 2016 by Marty Hibbs, Grain Farmers of Ontario</div>
<div><br>
</div>
<div><br>
</div>
<div>
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<b><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;">Wednesday, August 17, 2016 Closing Prices
<o:p></o:p></span></i></b></p>
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"MS Mincho";mso-bidi-font-family:Arial;mso-ansi-language:EN-US">PRICE<o:p></o:p></span></i></p>
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"MS Mincho";mso-bidi-font-family:Arial;mso-ansi-language:EN-US">WEEKLY MOVEMENT<o:p></o:p></span></i></p>
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<p class="MsoNormal"><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;">Corn CBOT<o:p></o:p></span></i></p>
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<p class="MsoNormal" align="center" style="text-align:center"><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;">Sep<o:p></o:p></span></i></p>
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<p class="MsoNormal" align="center" style="text-align:center"><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;">3.30<o:p></o:p></span></i></p>
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<p class="MsoNormal" align="center" style="text-align:center"><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;">$B",(B<o:p></o:p></span></i></p>
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<p class="MsoNormal"><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;"> 08<o:p></o:p></span></i></p>
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<p class="MsoNormal" align="center" style="text-align:center"><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;">cents<o:p></o:p></span></i></p>
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<p class="MsoNormal"><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;">Soybeans CBOT<o:p></o:p></span></i></p>
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<p class="MsoNormal" align="center" style="text-align:center"><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;">Sep<o:p></o:p></span></i></p>
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<p class="MsoNormal" align="center" style="text-align:center"><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;">10.30<o:p></o:p></span></i></p>
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<p class="MsoNormal" align="center" style="text-align:center"><i><span lang="EN-CA" style="font-size:11.0pt;
font-family:"Calibri","sans-serif";mso-bidi-font-family:Arial">$B",(B<o:p></o:p></span></i></p>
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<p class="MsoNormal" align="center" style="text-align:center"><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;"> 32<o:p></o:p></span></i></p>
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<p class="MsoNormal" align="center" style="text-align:center"><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;">cents<o:p></o:p></span></i></p>
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<p class="MsoNormal"><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;">Wheat CBOT<o:p></o:p></span></i></p>
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<p class="MsoNormal" align="center" style="text-align:center"><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;">Sep<o:p></o:p></span></i></p>
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<p class="MsoNormal" align="center" style="text-align:center"><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;">4.26<o:p></o:p></span></i></p>
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<p class="MsoNormal" align="center" style="text-align:center"><i><span lang="EN-CA" style="font-size:11.0pt;
font-family:"Calibri","sans-serif";mso-bidi-font-family:Arial">$B",(B<o:p></o:p></span></i></p>
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<p class="MsoNormal" align="center" style="text-align:center"><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;">04<o:p></o:p></span></i></p>
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<p class="MsoNormal" align="center" style="text-align:center"><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;">cents<o:p></o:p></span></i></p>
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<p class="MsoNormal"><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;">Wheat Minn.<o:p></o:p></span></i></p>
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<p class="MsoNormal" align="center" style="text-align:center"><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;">Sep<o:p></o:p></span></i></p>
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<p class="MsoNormal" align="center" style="text-align:center"><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;">5.24<o:p></o:p></span></i></p>
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<p class="MsoNormal" align="center" style="text-align:center"><i><span lang="EN-CA" style="font-size:11.0pt;
font-family:"Calibri","sans-serif";mso-bidi-font-family:Arial">$B",(B<o:p></o:p></span></i></p>
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<p class="MsoNormal" align="center" style="text-align:center"><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;">23<o:p></o:p></span></i></p>
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<p class="MsoNormal" align="center" style="text-align:center"><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;">cents<o:p></o:p></span></i></p>
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<p class="MsoNormal"><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;">Wheat Kansas<o:p></o:p></span></i></p>
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<p class="MsoNormal" align="center" style="text-align:center"><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;">Sep<o:p></o:p></span></i></p>
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<p class="MsoNormal" align="center" style="text-align:center"><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;">4.18<o:p></o:p></span></i></p>
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<p class="MsoNormal" align="center" style="text-align:center"><i><span lang="EN-CA" style="font-size:11.0pt;
font-family:"Calibri","sans-serif";mso-bidi-font-family:Arial">$B",(B<o:p></o:p></span></i></p>
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<p class="MsoNormal" align="center" style="text-align:center"><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;">06<o:p></o:p></span></i></p>
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<p class="MsoNormal" align="center" style="text-align:center"><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;">cents<o:p></o:p></span></i></p>
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<p class="MsoNormal"><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;">Chicago Oats<o:p></o:p></span></i></p>
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<p class="MsoNormal" align="center" style="text-align:center"><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;">Sep<o:p></o:p></span></i></p>
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<p class="MsoNormal" align="center" style="text-align:center"><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;">1.71<o:p></o:p></span></i></p>
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<p class="MsoNormal" align="center" style="text-align:center"><i><span lang="EN-CA" style="font-size:11.0pt;
font-family:"Calibri","sans-serif";mso-bidi-font-family:Arial">$B"-(B</span></i><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;"><o:p></o:p></span></i></p>
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<p class="MsoNormal" align="center" style="text-align:center"><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;">01<o:p></o:p></span></i></p>
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<p class="MsoNormal" align="center" style="text-align:center"><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;">cents <o:p></o:p></span></i></p>
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<p class="MsoNormal"><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;"><o:p> </o:p></span></i></p>
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<p class="MsoNormal" align="center" style="text-align:center"><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;"><o:p> </o:p></span></i></p>
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<p class="MsoNormal" align="center" style="text-align:center"><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;"><o:p> </o:p></span></i></p>
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<p class="MsoNormal" align="center" style="text-align:center"><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;"><o:p> </o:p></span></i></p>
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<p class="MsoNormal" align="center" style="text-align:center"><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;"><o:p> </o:p></span></i></p>
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<p class="MsoNormal" align="center" style="text-align:center"><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;"><o:p> </o:p></span></i></p>
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<p class="MsoNormal"><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;">Canadian $<o:p></o:p></span></i></p>
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<p class="MsoNormal" align="center" style="text-align:center"><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;">Sep<o:p></o:p></span></i></p>
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<p class="MsoNormal" align="center" style="text-align:center"><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;">.7800<o:p></o:p></span></i></p>
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<p class="MsoNormal" align="center" style="text-align:center"><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;">$B",(B<o:p></o:p></span></i></p>
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<p class="MsoNormal" align="center" style="text-align:center"><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;">1.25<o:p></o:p></span></i></p>
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<p class="MsoNormal" align="center" style="text-align:center"><i><span lang="EN-CA" style="font-size: 11pt; font-family: Calibri, sans-serif;">points<o:p></o:p></span></i></p>
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<p class="MsoNormal" style="margin-bottom:10.0pt"><b><span lang="EN-CA" style="font-family:"Calibri","sans-serif";mso-bidi-font-family:
Arial"><o:p> </o:p></span></b></p>
<p class="MsoNormal" style="margin-bottom:10.0pt"><b><span lang="EN-CA" style="font-family:"Calibri","sans-serif";mso-bidi-font-family:
Arial">CORN</span></b><span lang="EN-CA" style="font-family:"Calibri","sans-serif";
mso-bidi-font-family:Arial">: </span><span style="font-family: Calibri, sans-serif; font-size: 10pt;">Following
the August 12 United States Department of Agriculture (USDA) report, corn behaved as expected from our last commentary. There was an immediate selloff in the grains after the release, and once most of the stops were eliminated, the futures contracts reversed
course and closed higher on the day. In technical terms this is called a hook reversal, and it indicates that we could see higher prices in the immediate future. It does not, however, tell us how high or for how long. My guess is that we could see prices move
higher until there is an update to the current supply demand or a yield adjustment. Our first upside target would be a rash of overhead barriers from $3.40-$3.60 on the September contract or $3.50-$3.70 on the December contract. Next week, we will begin
to use the December futures for analysis on both corn and wheat. We have a weak buy signal on the corn, but it should be used only as an indicator of short term upside potential at this point. All other indicators are still negative, and the main trend is
still down but oversold.</span></p>
<p class="MsoNormal" style="margin-bottom:10.0pt"><b><span lang="EN-CA" style="font-family:"Calibri","sans-serif";mso-bidi-font-family:
Arial">SOYBEANS:</span></b><span lang="EN-CA" style="font-family:"Calibri","sans-serif";
mso-bidi-font-family:Arial"> Soybeans
continue to find good support at the $9.75 level as suggested last week and as witnessed by the selloff on the release of the USDA report on August 12. After the initial selloff of 25 cents per bushel, the September contract closed out the day basically unchanged.
This is an example of the stop running that we referred to last week. From these levels we could see some continued upside movement in the near term. Going forward, our initial headwinds on the September contract is found at the $10.30- $10.50 level on the
futures. Our indicators are oversold. Signals are still mixed, but the main trend is still down. </span><b style="font-size: 10pt;"><span style="font-family:"Calibri","sans-serif";mso-fareast-font-family:Calibri;
mso-bidi-font-family:Arial;mso-ansi-language:EN-US"><o:p> </o:p></span></b></p>
<p class="MsoNormal"><b><span style="font-family:"Calibri","sans-serif";mso-fareast-font-family:Calibri;
mso-bidi-font-family:Arial;mso-ansi-language:EN-US">WHEAT:
</span></b><span style="font-family:"Calibri","sans-serif";mso-fareast-font-family:Calibri;
mso-bidi-font-family:Arial;mso-ansi-language:EN-US"> The August 12 USDA report performed as expected with the wheat futures contract trading down 10 cents per bushel
to $4.06 on the release of the data, before closing out the trading session up 7 cents for the day. This produced a signal that could generate more upside in the near term. We are currently trading at $4.27 as of this writing on August 17. Our overhead resistance
now stands at $4.30-$4.40. The Minneapolis futures contract is currently leading the charge with a 40 cent move since its August 2 bottom. Even if we haven$B!G(Bt seen the bottom in the wheat market, there is evidence that we could be getting close. We did receive
a minor buy signal on both the daily and weekly charts, but it is not strong enough to conclude that a bottom is in place. We will monitor the signals going forward and hope to see a signal worth getting excited about. Good support is still seen at $4 on close
based on the September contract. Next week, we will switch to the December contract for analysis. The indicators are now mixed with short term indications turning positive, while the main trend is still down.</span><b style="text-align: center; font-size: 10pt;"><span style="font-size:12.0pt;mso-bidi-font-family:Arial"></span></b></p>
<p class="MsoNormal"><span style="font-family:"Calibri","sans-serif";mso-fareast-font-family:Calibri;
mso-bidi-font-family:Arial;mso-ansi-language:EN-US"><br>
</span></p>
<p class="MsoNormal"><span style="font-family:"Calibri","sans-serif";mso-fareast-font-family:Calibri;
mso-bidi-font-family:Arial;mso-ansi-language:EN-US">-------</span></p>
<p class="MsoNormal"><span style="font-family:"Calibri","sans-serif";mso-fareast-font-family:Calibri;
mso-bidi-font-family:Arial;mso-ansi-language:EN-US"><span id="ms-rterangepaste-start"></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;line-height:115%;font-family:
"Courier New";color:#333333;background:#FDFDFD">Blair Andrews</span><span style="font-size:10.0pt;line-height:115%;font-family:"Courier New";color:#333333"><br>
<span style="background:#FDFDFD">Editor, AgriLink and Farm Market News<span class="apple-converted-space"> </span></span><br>
<span style="background:#FDFDFD">University of Guelph, Ridgetown Campus<span class="apple-converted-space"> </span></span><br>
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