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<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, January 18</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Bank of Canada Noon exchange rate was 1.3177 up 0.0117</u></div>
<div><u>Chicago corn closed slightly lower.</u></div>
<div><u><br>
</u></div>
<div><u> MAR17 HI 3.67 3/4 DEC17 HI 3.94</u></div>
<div><u> LOW 3.62 3/4 LOW 3.90 1/2</u></div>
<div><u> CLOSE3.65 Down 1/2 CLOSE 3.91 3/4 Down 3/4</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+MAY17+MAY17</u></div>
<div><u>CK Low 0.65 4.30 169.28 0.75 4.67 183.75</u></div>
<div><u>CK High 0.70 4.35 171.25 0.85 4.77 187.69</u></div>
<div><u>CK Avg 0.66 -0.40 4.31 169.61 0.77 -0.38 4.68 184.41</u></div>
<div><u>Essex Cty 0.55 4.20 165.35 0.75 4.67 183.75</u></div>
<div><u>Mdsx Low 0.65 4.30 169.28 0.75 4.67 183.75</u></div>
<div><u>Mdsx High 0.65 4.30 169.28 0.80 4.72 185.72</u></div>
<div><u>Mdsx Avg 0.65 -0.40 4.30 169.28 0.78 -0.37 4.69 184.74</u></div>
<div><u>Hensall 0.68 4.33 170.27 0.80 4.72 185.72</u></div>
<div><u>Bruce 0.65 4.30 169.28 0.75 4.67 183.75</u></div>
<div><u>Putnam 0.65 4.30 169.28 0.75 4.67 183.75</u></div>
<div><u>Burford 0.65 4.30 169.28 0.75 4.67 183.75</u></div>
<div><u>Port Perry 1.10 4.75 187.00 0.85 4.77 187.69</u></div>
<div><u>Norfolk 0.75 4.40 173.22 0.75 4.67 183.75</u></div>
<div><u>Palmerston 0.75 4.40 173.22 0.75 4.67 183.75</u></div>
<div><u>Varna 0.70 4.35 171.25 0.80 4.72 185.72</u></div>
<div><u>Trenton 1.20 4.85 190.94 0.85 4.77 187.69</u></div>
<div><u>Winchester 1.20 4.85 190.94 1.15 5.07 199.50</u></div>
<div><u>North Gower 1.17 4.82 189.76 1.10 5.02 197.53</u></div>
<div><u>Huron FOB 1.00 4.65 183.06 0.92 4.84 190.44</u></div>
<div><u>Kent FOB 1.00 4.65 183.06 0.75 4.67 183.75</u></div>
<div><u>Lamb FOB 1.00 4.65 183.06 0.80 4.72 185.72</u></div>
<div><u>Mdsx FOB 0.70 0.75 0.75N/A 4.35 171.25 0.75 4.67 183.75</u></div>
<div><u>FOB SW Que 1.18 4.83 190.15N/A</u></div>
<div><u>Track 1.34 4.99 196.45N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth 1.21 1.27 1.27 1.33 4.86 191.33 1.00 4.92 193.59</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 1.25 1.00 4.92 193.59</u></div>
<div><u>Sarn-Eth 1.20 1.25 1.25N/A 4.85 190.94N/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 1.30 1.05 4.97 195.56</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 N/A 1.40 1.10 5.02 197.53</u></div>
<div><u>W O Feed 1.49 5.14 202.35</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.71 5.36 211.01</u></div>
<div><u>Toledo El. -0.11 3.54 139.52 -0.33 3.59 141.20</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Sarnia 1.00 4.65 183.06 0.95 4.87191 5/8</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 0.67 1/2 4.32 1/2</u></div>
<div><u>HI SD CRN 0.70 4.351</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 1.3177 up 0.0117</u></div>
<div><u>Chicago soybeans closed slightly higher.</u></div>
<div><u><br>
</u></div>
<div><u> MAR17 HI 10.80 NOV17 HI 10.32</u></div>
<div><u> LOW 10.62 1/2 LOW 10.10 3/4</u></div>
<div><u> CLOSE10.75 Up 5 3/4 CLOSE 10.28 1/4 Up 8 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 +MAR1+MAR1+MAY17</u></div>
<div><u>CK Low 2.50 13.25 486.852.35 12.63 464.16</u></div>
<div><u>CK High 2.70 13.45 494.202.65 12.93 475.19</u></div>
<div><u>CK Average 2.60 -0.6713.35 490.592.48 -0.6412.76 468.82</u></div>
<div><u>Essex Cty 2.50 13.25 486.852.40 12.68 466.00</u></div>
<div><u>Mdsx Low 2.66 13.41 492.732.44 12.72 467.47</u></div>
<div><u>Mdsx High 2.70 13.45 494.202.60 12.88 473.35</u></div>
<div><u>Mdsx Average 2.68 -0.6113.43 493.472.52 -0.6112.80 470.41</u></div>
<div><u>Hensall 2.60 13.35 490.532.50 12.78 469.68</u></div>
<div><u>Bruce 2.55 13.30 488.692.35 12.63 464.16</u></div>
<div><u>Putnam 2.45 13.20 485.022.35 12.63 464.16</u></div>
<div><u>Burford 2.72 13.47 494.942.50 12.78 469.68</u></div>
<div><u>Port Perry 2.66 13.41 492.732.44 12.72 467.47</u></div>
<div><u>Norfolk 2.60 13.35 490.532.40 12.68 466.00</u></div>
<div><u>Palmerston 2.50 13.25 486.852.45 12.73 467.84</u></div>
<div><u>Varna 2.50 13.25 486.852.40 12.68 466.00</u></div>
<div><u>Trenton 2.55 13.30 488.692.50 12.78 469.68</u></div>
<div><u>Winchester 2.60 13.35 490.532.50 12.78 469.68</u></div>
<div><u>North Gower 2.46 13.21 485.382.50 12.78 469.68</u></div>
<div><u>Huron FOB 2.65 13.40 492.372.50 12.78 469.68</u></div>
<div><u>Kent FOB 2.65 13.40 492.372.35 12.63 464.16</u></div>
<div><u>Lambton FOB 2.70 13.45 494.202.60 12.88 473.35</u></div>
<div><u>Middlesex FOB2.83 2.90 2.92 N/A 13.58 498.982.60 12.88 473.35</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Hamilton 3.20 3.25 N/A N/A 13.95 512.573.00 13.28 488.05</u></div>
<div><u> N/A N/A N/A</u></div>
<div><u>TRANSFER</u></div>
<div><u>Prescott 2.95 13.70 503.392.96 13.24 486.58</u></div>
<div><u>Sarnia 2.67 13.42 493.102.84 13.12 482.17</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.46 10.29 377.96-0.52 9.77 358.86</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Bank of Canada Noon exchange rate was 1.3177 up 0.0117</u></div>
<div><u>Chicago wheat closed slightly lower.</u></div>
<div><u>MAR17 HI 4.34 1/2 JUL17 HI 4.64</u></div>
<div><u> LOW 4.28 1/4 LOW 4.58 1/2</u></div>
<div><u> CLOSE 4.31 Down 2 1/2 CLOSE 4.61 1/2 Down 1 3/4</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly to moderately higher.</u></div>
<div><u>MAR17 HI 5.75 1/2 SEP17 HI 5.64 1/4</u></div>
<div><u> LOW 5.67 LOW 5.57 3/4</u></div>
<div><u> CLOSE 5.73 1/2 Up 7 CLOSE 5.62 1/2 Up 4 1/2</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 0.87 0.87 0.87 0.54</u></div>
<div><u>CAD $/bu 5.18 5.18 5.18 6.27</u></div>
<div><u>CAD $/tonne 190.34 190.34 190.34 230.50</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 N/A 0.60 N/A</u></div>
<div><u>London 0.71 0.71 0.71 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 0.85 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 N/A 0.75 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 0.58 N/A</u></div>
<div><u>Brigden N/A N/A 0.70 N/A N/A N/A 0.58 N/A</u></div>
<div><u>Palmerston N/A 0.65 0.70 0.40 N/A 0.60 0.60 0.60</u></div>
<div><u>Varna 0.65 0.65 0.65 N/A 0.60 0.55 0.55 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 0.03 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 0.44 0.57 0.28 N/A 0.88 0.88 0.55</u></div>
<div><u>W O Feed 1.46</u></div>
<div><u><br>
</u></div>
<div><u>TERMINAL</u></div>
<div><u>Sarnia 1.13 0.78 0.88 N/A 1.16 0.81 0.91 N/A</u></div>
<div><u>Prescott N/A N/A 0.80 N/A N/A N/A 1.02 0.71</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Toledo FM N/A N/A 1.40N/A N/A N/A 1.49N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 4.16US 5.51CA 4.42US 5.84CA</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 0.96 0.90 0.90 0.76</u></div>
<div><u>CAD $/bu 5.58 5.51 5.51 6.38</u></div>
<div><u>CAD $/tonne 204.90 202.47 202.47 234.55</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 524.82</u></div>
<div><u>DDG's FOB Srn & Aylm 135.00 - 140.00</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<u></u>
<p class="MsoNormal"><span style="font-size: 10pt; line-height: 115%; font-family: "Courier New"; color: rgb(51, 51, 51); background: rgb(253, 253, 253);">Blair Andrews</span><span style="font-size: 10pt; line-height: 115%; font-family: "Courier New"; color: rgb(51, 51, 51);"><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: 10pt; line-height: 115%; font-family: "Courier New"; color: rgb(51, 102, 153);">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: 10pt; line-height: 115%; font-family: "Courier New"; color: rgb(51, 51, 51); background: rgb(253, 253, 253);">x
63577<span class="apple-converted-space"> </span></span><span style="font-size: 10pt; line-height: 115%; font-family: "Courier New"; color: rgb(51, 51, 51);"><br>
<span style="background:#FDFDFD">Fax.<span class="apple-converted-space"> </span></span></span><a href="callto:519-674-1530"><span style="font-size: 10pt; line-height: 115%; font-family: "Courier New"; color: rgb(51, 102, 153);">519-674-1530</span></a><span class="apple-converted-space"><span style="font-size:10.0pt;line-height:115%;font-family:"Courier New";color:#333333;
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<span style="background: rgb(253, 253, 253);">This Farm Market News product is sponsored by:</span><br>
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