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<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Tue, December 20</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Bank of Canada Noon exchange rate was 1.3378 down 0.0019</u></div>
<div><u>Chicago corn closed slightly lower.</u></div>
<div><u><br>
</u></div>
<div><u> MAR17 HI 3.53 3/4 DEC17 HI 3.84 1/4</u></div>
<div><u> LOW 3.49 1/4 LOW 3.80 3/4</u></div>
<div><u> CLOSE3.50 1/4 Down 3 CLOSE 3.81 3/4 Down 2 1/2</u></div>
<div><u><br>
</u></div>
<div><u> OLD CROP BASIS NEW CROP BASIS</u></div>
<div><u>Location Spot 1mt 2mt 3mt U.S. $/bu $/mt Cntrct U.S. $/bu $/mt</u></div>
<div><u>ELEVATORS +MAR17+MAR17+MAY17</u></div>
<div><u>CK Low 0.65 4.15 163.48 0.80 4.62 181.78</u></div>
<div><u>CK High 0.65 4.15 163.48 0.85 4.67 183.75</u></div>
<div><u>CK Avg 0.65 -0.39 4.15 163.48 0.81 -0.35 4.63 182.11</u></div>
<div><u>Essex Cty 0.55 4.05 159.54 0.75 4.57 179.81</u></div>
<div><u>Mdsx Low 0.65 4.15 163.48 0.80 4.62 181.78</u></div>
<div><u>Mdsx High 0.65 4.15 163.48 0.85 4.67 183.75</u></div>
<div><u>Mdsx Avg 0.65 -0.39 4.15 163.48 0.83 -0.34 4.64 182.77</u></div>
<div><u>Hensall 0.65 4.15 163.48 0.85 4.67 183.75</u></div>
<div><u>Bruce 0.65 4.15 163.48 0.85 4.67 183.75</u></div>
<div><u>Putnam 0.65 4.15 163.48 0.80 4.62 181.78</u></div>
<div><u>Burford 0.65 4.15 163.48 0.80 4.62 181.78</u></div>
<div><u>Port Perry 1.10 4.60 181.19 0.90 4.72 185.72</u></div>
<div><u>Norfolk 0.75 4.25 167.41 0.80 4.62 181.78</u></div>
<div><u>Palmerston 0.80 4.30 169.38 0.80 4.62 181.78</u></div>
<div><u>Varna 0.65 4.15 163.48 0.85 4.67 183.75</u></div>
<div><u>Trenton 1.20 4.70 185.13 0.90 4.72 185.72</u></div>
<div><u>Winchester 0.99 4.49 176.86 0.89 4.71 185.33</u></div>
<div><u>North Gower 1.10 4.60 181.19 1.10 4.92 193.59</u></div>
<div><u>Huron FOB 0.95 4.45 175.29 0.87 4.69 184.54</u></div>
<div><u>Kent FOB 0.85 4.35 171.35 0.80 4.62 181.78</u></div>
<div><u>Lamb FOB 1.00 4.50 177.26 0.85 4.67 183.75</u></div>
<div><u>Mdsx FOB 0.70 0.70 0.75N/A 4.20 165.45 0.80 4.62 181.78</u></div>
<div><u>FOB SW Que 1.10 4.60 181.19N/A</u></div>
<div><u>Track 1.27 4.77 187.69N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth 1.15 1.18 1.23 1.21 4.65 183.16 1.05 4.87 191.63</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A N/A N/A</u></div>
<div><u>Aylmer-Eth N/A N/A N/A N/A 1.00 4.82 189.66</u></div>
<div><u>Sarn-Eth 1.15 1.20 1.25 1.25 4.65 183.16N/A</u></div>
<div><u>Kawartha N/A N/A N/A N/A N/A</u></div>
<div><u>London-Ing N/A N/A N/A N/A 1.05 4.87 191.63</u></div>
<div><u>Pt.Colb-Ing N/A N/A N/A N/A N/A</u></div>
<div><u>Cardnl-Ing 1.31 1.43N/A N/A 4.81 189.46 1.10 4.92 193.59</u></div>
<div><u>W O Feed 1.49 5.00 196.70</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.74 5.24 206.39</u></div>
<div><u>Toledo El. -0.13 3.37 132.63 -0.33 3.48 137.16</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 0.65 4.15 1/4</u></div>
<div><u>HI SD CRN 0.65 4.15 1/4</u></div>
<div><u>*Wet Bid</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Bank of Canada Noon exchange rate was 1.3378 down 0.0019</u></div>
<div><u>Chicago soybeans closed slightly to moderately lower.</u></div>
<div><u><br>
</u></div>
<div><u> JAN17 HI 10.24 NOV17 HI 10.13</u></div>
<div><u> LOW 10.04 LOW 9.95 3/4</u></div>
<div><u> CLOSE10.05 1/4 Down 16 1/4 CLOSE 9.96 3/4 Down 15 1/4</u></div>
<div><u><br>
</u></div>
<div><u> OLD CROP NEW CROP</u></div>
<div><u>Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt</u></div>
<div><u>ELEVATORS +JAN1+MAR1+MAR17</u></div>
<div><u>CK Low 2.60 12.65 464.902.50 12.47 458.10</u></div>
<div><u>CK High 2.70 12.75 468.572.65 12.62 463.61</u></div>
<div><u>CK Average 2.68 -0.5212.73 467.782.59 -0.5512.56 461.53</u></div>
<div><u>Essex Cty 2.60 12.65 464.902.55 12.52 459.94</u></div>
<div><u>Mdsx Low 2.69 12.74 468.212.59 12.56 461.41</u></div>
<div><u>Mdsx High 2.70 12.75 468.572.60 12.57 461.78</u></div>
<div><u>Mdsx Average 2.70 -0.5112.75 468.392.60 -0.5512.56 461.59</u></div>
<div><u>Hensall 2.70 12.75 468.572.63 12.59 462.70</u></div>
<div><u>Bruce 2.70 12.75 468.572.60 12.57 461.78</u></div>
<div><u>Putnam 2.60 12.65 464.902.55 12.52 459.94</u></div>
<div><u>Burford 2.76 12.81 470.782.66 12.63 463.98</u></div>
<div><u>Port Perry 2.69 12.74 468.212.59 12.56 461.41</u></div>
<div><u>Norfolk 2.73 12.78 469.682.65 12.62 463.61</u></div>
<div><u>Palmerston 2.65 12.70 466.742.60 12.57 461.78</u></div>
<div><u>Varna 2.70 12.75 468.572.65 12.62 463.61</u></div>
<div><u>Trenton 2.75 12.80 470.412.65 12.62 463.61</u></div>
<div><u>Winchester 2.69 12.74 468.212.71 12.68 465.82</u></div>
<div><u>North Gower 2.62 12.67 465.632.72 12.69 466.19</u></div>
<div><u>Huron FOB 2.85 12.90 474.092.75 12.72 467.29</u></div>
<div><u>Kent FOB 2.78 12.83 471.512.60 12.57 461.78</u></div>
<div><u>Lambton FOB 2.80 12.85 472.252.80 12.77 469.13</u></div>
<div><u>Middlesex FOB2.86 2.86 2.91 N/A 12.91 474.452.70 12.67 465.45</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Hamilton 3.22 3.22 N/A N/A 13.27 487.683.10 13.07 480.15</u></div>
<div><u>Windsor N/A N/A N/A N/A N/A</u></div>
<div><u>Winchester N/A N/A</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Prescott 2.96 13.01 478.133.09 13.06 479.78</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.43 9.63 353.66-0.45 9.51 349.58</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Bank of Canada Noon exchange rate was 1.3378 down 0.0019</u></div>
<div><u>Chicago wheat closed slightly lower.</u></div>
<div><u>MAR17 HI 4.07 3/4 JUL17 HI 4.34 1/4</u></div>
<div><u> LOW 4.00 1/4 LOW 4.27</u></div>
<div><u> CLOSE 4.03 1/4 Down 1 3/4 CLOSE 4.30 1/2 Down 3/4</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly lower.</u></div>
<div><u>MAR17 HI 5.43 1/2 SEP17 HI 5.49</u></div>
<div><u> LOW 5.38 LOW 5.45</u></div>
<div><u> CLOSE 5.40 3/4 Down 1 CLOSE 5.45 3/4 Down 3/4</u></div>
<div><u><br>
</u></div>
<div><u>GFO Cash Wheat Prices - DEL Terminal</u></div>
<div><u>Harvest 16 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)</u></div>
<div><u>Basis 0.62 0.55 0.69 0.55</u></div>
<div><u>CAD $/bu 4.65 4.58 4.72 5.95</u></div>
<div><u>CAD $/tonne 170.91 168.46 173.36 218.76</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Direct MarkHarvest 2016 Harvest 2017</u></div>
<div><u> DELIVERED BASIS DELIVERED BASIS</u></div>
<div><u>Location SWW(C) HRW(C) SRW(C) HRS(M) SWW(C) HRW(C) SRW(C) HRS(M)</u></div>
<div><u>ELEVATORS</u></div>
<div><u>Brgssvll N/A N/A 0.65 N/A N/A 0.60 0.60 N/A</u></div>
<div><u>London 0.65 0.65 0.65 N/A 0.67 0.61 0.61 N/A</u></div>
<div><u>Hensall 0.70 N/A 0.70 N/A 0.70 N/A 0.60 N/A</u></div>
<div><u>Trenton N/A N/A N/A N/A N/A N/A 0.70 N/A</u></div>
<div><u>Bruce 0.70 0.65 0.70 0.40 0.70 0.60 0.60 0.60</u></div>
<div><u>Essex N/A N/A N/A N/A N/A N/A 0.44 N/A</u></div>
<div><u>Norwich 0.70 N/A 0.70 N/A 0.70 N/A 0.60 N/A</u></div>
<div><u>Port Hope N/A 0.70 0.70 N/A N/A 0.55 0.60 N/A</u></div>
<div><u>Kent Bridge 0.70 N/A 0.70 N/A 0.70 N/A 0.60 N/A</u></div>
<div><u>Chatham N/A N/A 0.65 N/A N/A N/A 0.60 N/A</u></div>
<div><u>Brigden N/A N/A 0.65 N/A N/A N/A 0.60 N/A</u></div>
<div><u>Palmerston N/A 0.65 0.55 0.40 N/A 0.60 0.60 0.60</u></div>
<div><u>Varna 0.70 0.70 0.70 N/A 0.65 0.60 0.60 N/A</u></div>
<div><u>Mitchell 0.70 0.70 0.70 N/A 0.70 0.55 0.60 N/A</u></div>
<div><u>Thornton N/A N/A N/A 0.09 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 0.47 0.60 0.35 N/A 0.88 0.88 0.65</u></div>
<div><u>W O Feed 1.49</u></div>
<div><u><br>
</u></div>
<div><u>TERMINAL</u></div>
<div><u>Prescott N/A N/A 0.78 0.65 N/A 0.85 1.00 0.71</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Toledo FM N/A N/A 1.35 N/A N/A N/A 1.44 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 3.78US 5.05CA 4.11US 5.48CA</u></div>
<div><u><br>
</u></div>
<div><u>GFO Contract Wheat Prices - DEL Terminal</u></div>
<div><u>Harvest 17 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)</u></div>
<div><u>Basis 0.90 0.84 0.84 0.76</u></div>
<div><u>CAD $/bu 5.21 5.14 5.14 6.21</u></div>
<div><u>CAD $/tonne 191.41 188.96 188.96 228.30</u></div>
<div><u><br>
</u></div>
<div><u>(C)-Basis over the Chicago Board of Trade futures</u></div>
<div><u>(M)-Basis over the Minneapolis Grain Exchange</u></div>
<div><u><br>
</u></div>
<div><u>FEED GRAINS</u></div>
<div><u>FOB Hm Soymeal 516.77</u></div>
<div><u>DDG's FOB Srn & Aylm 135.00 - 140.00</u></div>
<div><br>
</div>
<br>
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<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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