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<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, December 22</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Bank of Canada Noon exchange rate was 1.3468 up 0.0067</u></div>
<div><u>Chicago corn closed slightly lower to steady.</u></div>
<div><u><br>
</u></div>
<div><u> MAR17 HI 3.48 DEC17 HI 3.79</u></div>
<div><u> LOW 3.46 LOW 3.76 1/2</u></div>
<div><u> CLOSE3.47 1/4 Unchanged CLOSE 3.77 3/4 Down 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 4.12 162.30 0.80 4.58 180.21</u></div>
<div><u>CK High 0.70 4.17 164.26 0.85 4.63 182.18</u></div>
<div><u>CK Avg 0.68 -0.39 4.15 163.28 0.83 -0.35 4.61 181.52</u></div>
<div><u>Essex Cty 0.55 4.02 158.36 0.75 4.53 178.24</u></div>
<div><u>Mdsx Low 0.70 4.17 164.26 0.85 4.63 182.18</u></div>
<div><u>Mdsx High 0.70 4.17 164.26 0.90 4.68 184.15</u></div>
<div><u>Mdsx Avg 0.70 -0.38 4.17 164.26 0.88 -0.32 4.65 183.16</u></div>
<div><u>Hensall 0.70 4.17 164.26 0.90 4.68 184.15</u></div>
<div><u>Bruce 0.70 4.17 164.26 0.90 4.68 184.15</u></div>
<div><u>Putnam 0.65 4.12 162.30 0.80 4.58 180.21</u></div>
<div><u>Burford 0.70 4.17 164.26 0.85 4.63 182.18</u></div>
<div><u>Port Perry 1.15 4.62 181.98 0.95 4.73 186.11</u></div>
<div><u>Norfolk 0.75 4.22 166.23 0.80 4.58 180.21</u></div>
<div><u>Palmerston 0.80 4.27 168.20 0.80 4.58 180.21</u></div>
<div><u>Varna 0.70 4.17 164.26 0.90 4.68 184.15</u></div>
<div><u>Trenton 1.20 4.67 183.95 0.90 4.68 184.15</u></div>
<div><u>Winchester 1.15 4.62 181.98 1.10 4.88 192.02</u></div>
<div><u>North Gower 1.12 4.59 180.80 1.10 4.88 192.02</u></div>
<div><u>Huron FOB 0.95 4.42 174.11 0.87 4.65 182.96</u></div>
<div><u>Kent FOB 0.85 4.32 170.17 0.80 4.58 180.21</u></div>
<div><u>Lamb FOB 1.10 4.57 180.01 0.90 4.68 184.15</u></div>
<div><u>Mdsx FOB 0.70 0.70N/A N/A 4.17 164.26 0.80 4.58 180.21</u></div>
<div><u>FOB SW Que 1.20 4.67 183.95N/A</u></div>
<div><u>Track 1.27 4.74 186.51N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth 1.15 1.18 1.23 1.21 4.62 181.98 1.05 4.83 190.05</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 1.10 4.88 192.02</u></div>
<div><u>Sarn-Eth 1.15 1.20 1.25 1.25 4.62 181.98N/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 4.83 190.05</u></div>
<div><u>Pt.Colb-Ing N/A N/A N/A N/A N/A</u></div>
<div><u>Cardnl-Ing N/A N/A 1.43N/A 1.10 4.88 192.02</u></div>
<div><u>W O Feed 1.52 4.99 196.39</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.75 5.22 205.60</u></div>
<div><u>Toledo El. -0.13 3.34 131.40 -0.34 3.44 135.46</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 0.67 1/2 4.14 3/4</u></div>
<div><u>HI SD CRN 0.70 4.17 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 1.3468 up 0.0067</u></div>
<div><u>Chicago soybeans closed slightly to moderately lower.</u></div>
<div><u><br>
</u></div>
<div><u> JAN17 HI 10.08 3/4 NOV17 HI 9.98 1/2</u></div>
<div><u> LOW 9.93 1/2 LOW 9.86</u></div>
<div><u> CLOSE9.94 1/2 Down 12 1/4 CLOSE 9.87 1/2 Down 10</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 12.55 460.952.50 12.38 454.70</u></div>
<div><u>CK High 2.75 12.70 466.462.70 12.58 462.05</u></div>
<div><u>CK Average 2.71 -0.5612.65 464.872.62 -0.6012.50 459.11</u></div>
<div><u>Essex Cty 2.60 12.55 460.952.55 12.43 456.54</u></div>
<div><u>Mdsx Low 2.73 12.68 465.732.64 12.52 459.85</u></div>
<div><u>Mdsx High 2.75 12.70 466.462.65 12.53 460.21</u></div>
<div><u>Mdsx Average 2.74 -0.5312.69 466.092.65 -0.5812.52 460.03</u></div>
<div><u>Hensall 2.75 12.70 466.462.65 12.53 460.21</u></div>
<div><u>Bruce 2.75 12.70 466.462.65 12.53 460.21</u></div>
<div><u>Putnam 2.60 12.55 460.952.55 12.43 456.54</u></div>
<div><u>Burford 2.80 12.75 468.302.71 12.59 462.42</u></div>
<div><u>Port Perry 2.73 12.68 465.732.64 12.52 459.85</u></div>
<div><u>Norfolk 2.76 12.71 466.832.66 12.54 460.58</u></div>
<div><u>Palmerston 2.65 12.60 462.792.60 12.48 458.38</u></div>
<div><u>Varna 2.75 12.70 466.462.65 12.53 460.21</u></div>
<div><u>Trenton 2.70 12.65 464.622.65 12.53 460.21</u></div>
<div><u>Winchester 2.69 12.64 464.262.65 12.53 460.21</u></div>
<div><u>North Gower 2.69 12.64 464.262.74 12.62 463.52</u></div>
<div><u>Huron FOB 2.90 12.85 471.972.75 12.63 463.89</u></div>
<div><u>Kent FOB 2.81 12.76 468.672.61 12.49 458.75</u></div>
<div><u>Lambton FOB 2.80 12.75 468.302.85 12.73 467.56</u></div>
<div><u>Middlesex FOB2.90 N/A N/A N/A 12.85 471.972.77 12.65 464.62</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Hamilton 3.31 3.31 N/A N/A 13.26 487.043.17 13.05 479.32</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 12.91 474.183.09 12.97 476.38</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.43 9.51 349.57-0.46 9.42 346.02</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Bank of Canada Noon exchange rate was 1.3468 up 0.0067</u></div>
<div><u>Chicago wheat closed slightly lower.</u></div>
<div><u>MAR17 HI 4.00 1/2 JUL17 HI 4.27 1/4</u></div>
<div><u> LOW 3.96 1/2 LOW 4.23 1/2</u></div>
<div><u> CLOSE 3.97 Down 2 1/2 CLOSE 4.24 Down 2 1/2</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly lower.</u></div>
<div><u>MAR17 HI 5.43 1/4 SEP17 HI 5.48</u></div>
<div><u> LOW 5.33 1/2 LOW 5.40 1/2</u></div>
<div><u> CLOSE 5.35 Down 4 1/2 CLOSE 5.40 1/2 Down 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 0.64 0.57 0.71 0.58</u></div>
<div><u>CAD $/bu 4.61 4.54 4.68 5.93</u></div>
<div><u>CAD $/tonne 169.35 166.87 171.82 217.87</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 0.70 N/A N/A 0.60 0.60 N/A</u></div>
<div><u>London 0.72 0.72 0.72 N/A 0.74 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 0.80 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 0.45 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 0.70 N/A N/A N/A 0.60 N/A</u></div>
<div><u>Brigden N/A N/A 0.70 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 0.08 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 0.45 0.58 0.36 N/A 0.89 0.89 0.67</u></div>
<div><u>W O Feed 1.51</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 1.38 N/A N/A N/A 1.47 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 3.82US 5.15CA 4.04US 5.44CA</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 0.93 0.87 0.87 0.80</u></div>
<div><u>CAD $/bu 5.17 5.11 5.11 6.20</u></div>
<div><u>CAD $/tonne 190.05 187.58 187.58 227.92</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 519.53</u></div>
<div><u>DDG's FOB Srn & Aylm 135.00 - 140.00</u></div>
<div><br>
</div>
<div><span id="ms-rterangepaste-start"></span>
<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>
<span style="background:#FDFDFD">Tel.<span class="apple-converted-space"> </span></span></span><a href="callto:519-674-1500"><span style="font-size:10.0pt;line-height:115%;
font-family:"Courier New";color:#336699;text-decoration:none;text-underline:
none">519-674-1500</span></a><span class="apple-converted-space"><span style="font-size:10.0pt;line-height:115%;font-family:"Courier New";color:#333333;
background:#FDFDFD"> </span></span><span style="font-size:10.0pt;
line-height:115%;font-family:"Courier New";color:#333333;background:#FDFDFD">x
63577<span class="apple-converted-space"> </span></span><span style="font-size:10.0pt;line-height:115%;font-family:"Courier New";color:#333333"><br>
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background:#FDFDFD"> </span></span><span style="font-size:10.0pt;
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