<html>
<head>
<meta http-equiv="Content-Type" content="text/html; charset=iso-8859-1">
<style type="text/css" style="display:none;"><!-- P {margin-top:0;margin-bottom:0;} --></style>
</head>
<body dir="ltr">
<div id="divtagdefaultwrapper" style="font-size:10pt;color:#000000;font-family:'Courier New',monospace;" dir="ltr">
<p></p>
<div id="divtagdefaultwrapper" style="font-size:10pt;color:#000000;font-family:'Courier New',monospace;" dir="ltr">
<p></p>
<div id="divtagdefaultwrapper" style="font-size:10pt;color:#000000;font-family:'Courier New',monospace;" dir="ltr">
<p><u></u></p>
<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Fri, January 20</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Bank of Canada Noon exchange rate was 1.3339 up 0.0010</u></div>
<div><u>Chicago corn closed slightly higher.</u></div>
<div><u><br>
</u></div>
<div><u> MAR17 HI 3.70 DEC17 HI 3.96 1/4</u></div>
<div><u> LOW 3.65 LOW 3.92</u></div>
<div><u> CLOSE3.69 3/4 Up 3 1/2 CLOSE 3.95 3/4 Up 2 1/4</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 4.35 171.15 0.75 4.71 185.33</u></div>
<div><u>CK High 0.70 4.40 173.12 0.80 4.76 187.29</u></div>
<div><u>CK Avg 0.66 -0.42 4.36 171.48 0.77 -0.40 4.72 185.98</u></div>
<div><u>Essex Cty 0.55 4.25 167.22 0.75 4.71 185.33</u></div>
<div><u>Mdsx Low 0.65 4.35 171.15 0.75 4.71 185.33</u></div>
<div><u>Mdsx High 0.65 4.35 171.15 0.80 4.76 187.29</u></div>
<div><u>Mdsx Avg 0.65 -0.43 4.35 171.15 0.78 -0.40 4.73 186.31</u></div>
<div><u>Hensall 0.68 4.37 172.14 0.80 4.76 187.29</u></div>
<div><u>Bruce 0.65 4.35 171.15 0.80 4.76 187.29</u></div>
<div><u>Putnam 0.65 4.35 171.15 0.75 4.71 185.33</u></div>
<div><u>Burford 0.75 4.45 175.09 0.90 4.86 191.23</u></div>
<div><u>Port Perry 1.05 4.75 186.90 0.85 4.81 189.26</u></div>
<div><u>Norfolk 0.75 4.45 175.09 0.90 4.86 191.23</u></div>
<div><u>Palmerston 0.75 4.45 175.09 0.75 4.71 185.33</u></div>
<div><u>Varna 0.70 4.40 173.12 0.80 4.76 187.29</u></div>
<div><u>Trenton 1.20 4.90 192.81 0.85 4.81 189.26</u></div>
<div><u>Winchester 1.20 4.90 192.81 1.15 5.11 201.07</u></div>
<div><u>North Gower 1.20 4.90 192.81 1.10 5.06 199.10</u></div>
<div><u>Huron FOB 0.97 4.67 183.75 0.90 4.86 191.23</u></div>
<div><u>Kent FOB 1.00 4.70 184.93 0.80 4.76 187.29</u></div>
<div><u>Lamb FOB 1.00 4.70 184.93 0.80 4.76 187.29</u></div>
<div><u>Mdsx FOB 0.70 0.75 0.75N/A 4.40 173.12 0.75 4.71 185.33</u></div>
<div><u>FOB SW Que 1.18 4.88 192.02N/A</u></div>
<div><u>Track 1.31 5.00 196.94N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth 1.21 1.27 1.27 1.22 4.91 193.20 1.00 4.96 195.17</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 4.96 195.17</u></div>
<div><u>Sarn-Eth N/A 1.20 1.20 1.20 N/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 1.25 1.00 4.96 195.17</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 1.05 5.01 197.14</u></div>
<div><u>W O Feed 1.49 5.19 204.22</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.71 5.41 212.88</u></div>
<div><u>Toledo El. -0.08 3.62 142.42 -0.33 3.63 142.72</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Sarnia 1.00 4.70 184.93 0.95 4.91193 1/5</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 0.67 1/2 4.37 1/4</u></div>
<div><u>HI SD CRN 0.70 4.39 3/4</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 1.3339 up 0.0010</u></div>
<div><u>Chicago soybeans closed narrowly mixed.</u></div>
<div><u><br>
</u></div>
<div><u> MAR17 HI 10.71 1/4 NOV17 HI 10.31</u></div>
<div><u> LOW 10.60 LOW 10.21 1/4</u></div>
<div><u> CLOSE10.67 1/2 Down 2 3/4 CLOSE 10.28 3/4 Down 1</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 2.68 13.36 490.712.59 12.88 473.17</u></div>
<div><u>CK High 2.80 13.48 495.122.65 12.94 475.37</u></div>
<div><u>CK Average 2.73 -0.6013.41 492.552.61 -0.5812.89 473.78</u></div>
<div><u>Essex Cty 2.70 13.38 491.452.60 12.89 473.53</u></div>
<div><u>Mdsx Low 2.68 13.36 490.712.57 12.86 472.43</u></div>
<div><u>Mdsx High 2.75 13.43 493.282.60 12.89 473.53</u></div>
<div><u>Mdsx Average 2.72 -0.6113.39 492.002.59 -0.6012.87 472.98</u></div>
<div><u>Hensall 2.75 13.43 493.282.63 12.91 474.45</u></div>
<div><u>Bruce 2.75 13.43 493.282.60 12.89 473.53</u></div>
<div><u>Putnam 2.70 13.38 491.452.55 12.84 471.70</u></div>
<div><u>Burford 2.75 13.43 493.282.64 12.93 475.00</u></div>
<div><u>Port Perry 2.68 13.36 490.712.57 12.86 472.43</u></div>
<div><u>Norfolk 2.75 13.43 493.282.75 13.04 479.05</u></div>
<div><u>Palmerston 2.70 13.38 491.452.60 12.89 473.53</u></div>
<div><u>Varna 2.75 13.43 493.282.65 12.94 475.37</u></div>
<div><u>Trenton 2.75 13.43 493.282.60 12.89 473.53</u></div>
<div><u>Winchester 2.60 13.28 487.772.44 12.73 467.66</u></div>
<div><u>North Gower 2.70 13.38 491.452.75 13.04 479.05</u></div>
<div><u>Huron FOB 2.85 13.53 496.962.75 13.04 479.05</u></div>
<div><u>Kent FOB 2.80 13.48 495.122.60 12.89 473.53</u></div>
<div><u>Lambton FOB 2.75 13.43 493.282.70 12.99 477.21</u></div>
<div><u>Middlesex FOB2.85 2.92 2.96 N/A 13.53 496.962.73 13.02 478.31</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Hamilton 3.20 3.25 3.30 N/A 13.88 509.823.10 13.39 491.91</u></div>
<div><u> N/A N/A N/A</u></div>
<div><u>TRANSFER</u></div>
<div><u>Prescott N/A 3.06 13.35 490.44</u></div>
<div><u>Sarnia 2.85 13.53 496.963.00 13.29 488.23</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.53 10.14 372.68-0.52 9.77 358.96</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Bank of Canada Noon exchange rate was 1.3339 up 0.0010</u></div>
<div><u>Chicago wheat closed slightly higher.</u></div>
<div><u>MAR17 HI 4.28 3/4 JUL17 HI 4.59</u></div>
<div><u> LOW 4.21 1/2 LOW 4.52 3/4</u></div>
<div><u> CLOSE 4.28 1/4 Up 4 3/4 CLOSE 4.58 1/2 Up 3 1/4</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly to moderately lower.</u></div>
<div><u>MAR17 HI 5.76 1/2 SEP17 HI 5.62 1/4</u></div>
<div><u> LOW 5.67 LOW 5.58</u></div>
<div><u> CLOSE 5.68 1/2 Down 8 CLOSE 5.58 3/4 Down 2 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 0.88 0.88 0.88 0.55</u></div>
<div><u>CAD $/bu 5.17 5.17 5.17 6.23</u></div>
<div><u>CAD $/tonne 189.84 189.84 189.84 229.08</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 0.75 N/A N/A N/A 0.65 N/A</u></div>
<div><u>London 0.74 0.74 0.74 N/A 0.78 0.65 0.65 N/A</u></div>
<div><u>Hensall 0.80 N/A 0.80 N/A 0.80 N/A 0.75 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 0.80 0.65 0.80 0.40 0.80 0.60 0.75 0.60</u></div>
<div><u>Essex N/A N/A N/A N/A N/A N/A 0.48 N/A</u></div>
<div><u>Norwich 0.80 N/A 0.80 N/A 0.80 N/A 0.75 N/A</u></div>
<div><u>Port Hope N/A N/A 0.80 N/A N/A 0.75 0.75 N/A</u></div>
<div><u>Kent Bridge 0.80 N/A 0.80 N/A 0.80 N/A 0.75 N/A</u></div>
<div><u>Chatham N/A N/A 0.75 N/A N/A N/A 0.65 N/A</u></div>
<div><u>Brigden N/A N/A 0.75 N/A N/A N/A 0.65 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 0.75 0.75 0.75 N/A 0.80 0.75 0.75 N/A</u></div>
<div><u>Mitchell 0.80 0.80 0.80 N/A 0.80 0.75 0.75 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 0.77 0.77 0.38 N/A 0.96 0.96 0.69</u></div>
<div><u>W O Feed 1.46</u></div>
<div><u><br>
</u></div>
<div><u>TERMINAL</u></div>
<div><u>Sarnia 1.17 0.82 0.92 N/A 1.19 0.84 0.94 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 1.42N/A N/A N/A 1.51N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 4.13US 5.50CA 4.39US 5.83CA</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 0.98 0.91 0.91 0.77</u></div>
<div><u>CAD $/bu 5.56 5.50 5.50 6.36</u></div>
<div><u>CAD $/tonne 204.35 201.91 201.91 233.77</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 519.97</u></div>
<div><u>DDG's FOB Srn & Aylm 135.00 - 145.00</u></div>
<div><u><br>
</u></div>
<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: rgb(253, 253, 253);">Editor, AgriLink and Farm Market News<span class="apple-converted-space"> </span></span><br>
<span style="background: rgb(253, 253, 253);">University of Guelph, Ridgetown Campus<span class="apple-converted-space"> </span></span><br>
<span style="background: rgb(253, 253, 253);">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;
background:#FDFDFD"> </span></span><span style="font-size: 10pt; line-height: 115%; font-family: "Courier New"; color: rgb(51, 51, 51);"><br>
<br>
<span style="background:#FDFDFD">Click on this link:<span class="apple-converted-space"> </span></span></span><span class="object"><span style="font-size:10.0pt;line-height:115%;font-family:"Courier New";color:#336699">farmmarketnews-unsubscribe@list.gfo.ca</span></span><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);"> to
unsubscribe from this report.</span><span style="font-size: 10pt; line-height: 115%; font-family: "Courier New"; color: rgb(51, 51, 51);"><br>
<span style="background: rgb(253, 253, 253);">This Farm Market News product is sponsored by:</span><br>
<span style="background: rgb(253, 253, 253);">Grain Farmers of Ontario<u><o:p></o:p></u></span></span></p>
<u></u><br>
</div>
<u><br>
</u>
<p></p>
<p><u><br>
</u></p>
<div id="Signature">
<div id="divtagdefaultwrapper" style="font-size:12pt; color:#000000; background-color:#FFFFFF; font-family:Calibri,Arial,Helvetica,sans-serif">
<p></p>
<div><u><br>
</u></div>
<div><u><span style="font-family:"Courier New",monospace; font-size:10pt"></span></u></div>
<u><br>
</u>
<p></p>
<p><br>
</p>
</div>
</div>
</div>
<p></p>
</div>
<p></p>
</div>
</body>
</html>