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<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Mon, January 23</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Bank of Canada Noon exchange rate was 1.3289 down 0.0050</u></div>
<div><u>Chicago corn closed narrowly mixed.</u></div>
<div><u><br>
</u></div>
<div><u> MAR17 HI 3.70 DEC17 HI 3.96</u></div>
<div><u> LOW 3.67 1/2 LOW 3.93 1/2</u></div>
<div><u> CLOSE3.69 1/2 Down 1/4 CLOSE 3.96 Up 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 4.35 171.06 0.75 4.71 185.42</u></div>
<div><u>CK High 0.70 4.40 173.02 0.80 4.76 187.39</u></div>
<div><u>CK Avg 0.66 -0.41 4.35 171.38 0.77 -0.39 4.73 186.08</u></div>
<div><u>Essex Cty 0.55 4.25 167.12 0.75 4.71 185.42</u></div>
<div><u>Mdsx Low 0.65 4.35 171.06 0.75 4.71 185.42</u></div>
<div><u>Mdsx High 0.65 4.35 171.06 0.80 4.76 187.39</u></div>
<div><u>Mdsx Avg 0.65 -0.41 4.35 171.06 0.78 -0.38 4.74 186.41</u></div>
<div><u>Hensall 0.68 4.37 172.04 0.83 4.79 188.38</u></div>
<div><u>Bruce 0.65 4.35 171.06 0.80 4.76 187.39</u></div>
<div><u>Putnam 0.65 4.35 171.06 0.75 4.71 185.42</u></div>
<div><u>Burford 0.75 4.45 174.99 0.90 4.86 191.33</u></div>
<div><u>Port Perry 1.05 4.75 186.80 0.85 4.81 189.36</u></div>
<div><u>Norfolk 0.75 4.45 174.99 0.90 4.86 191.33</u></div>
<div><u>Palmerston 0.65 4.35 171.06 0.75 4.71 185.42</u></div>
<div><u>Varna 0.70 4.40 173.02 0.80 4.76 187.39</u></div>
<div><u>Trenton 1.20 4.90 192.71 0.85 4.81 189.36</u></div>
<div><u>Winchester 1.14 4.84 190.35 1.12 5.08 199.99</u></div>
<div><u>North Gower 1.17 4.87 191.53 1.10 5.06 199.20</u></div>
<div><u>Huron FOB 1.00 4.70 184.83 0.90 4.86 191.33</u></div>
<div><u>Kent FOB 1.00 4.70 184.83 0.80 4.76 187.39</u></div>
<div><u>Lamb FOB 1.00 4.70 184.83 0.80 4.76 187.39</u></div>
<div><u>Mdsx FOB 0.85 0.90 0.90N/A 4.55 178.93 0.75 4.71 185.42</u></div>
<div><u>FOB SW Que 1.15 4.85 190.74N/A</u></div>
<div><u>Track 1.30 5.00 196.64N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A 1.27 1.27 1.22 1.00 4.96 195.27</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 1.20 1.00 4.96 195.27</u></div>
<div><u>Sarn-Eth N/A 1.20 1.20 1.25 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 4.96 195.27</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 5.01 197.23</u></div>
<div><u>W O Feed 1.49 5.19 204.12</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.73 5.43 213.57</u></div>
<div><u>Toledo El. -0.08 3.62 142.34 -0.33 3.63 142.88</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Sarnia 1.00 4.70 184.83 0.95 4.91193 2/7</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 0.67 1/2 4.37</u></div>
<div><u>HI SD CRN 0.70 4.39 1/2</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 1.3289 down 0.0050</u></div>
<div><u>Chicago soybeans closed slightly lower.</u></div>
<div><u><br>
</u></div>
<div><u> MAR17 HI 10.69 3/4 NOV17 HI 10.28 3/4</u></div>
<div><u> LOW 10.55 1/4 LOW 10.21 1/4</u></div>
<div><u> CLOSE10.57 3/4 Down 9 3/4 CLOSE 10.25 1/4 Down 3 1/2</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 2.60 13.18 484.192.58 12.83 471.51</u></div>
<div><u>CK High 2.75 13.33 489.702.65 12.90 474.09</u></div>
<div><u>CK Average 2.67 -0.5813.24 486.642.61 -0.5312.86 472.43</u></div>
<div><u>Essex Cty 2.65 13.23 486.032.60 12.85 472.25</u></div>
<div><u>Mdsx Low 2.65 13.23 486.032.56 12.81 470.78</u></div>
<div><u>Mdsx High 2.70 13.28 487.862.60 12.85 472.25</u></div>
<div><u>Mdsx Average 2.68 -0.5713.25 486.952.58 -0.5512.83 471.51</u></div>
<div><u>Hensall 2.70 13.28 487.862.63 12.88 473.17</u></div>
<div><u>Bruce 2.65 13.23 486.032.60 12.85 472.25</u></div>
<div><u>Putnam 2.70 13.28 487.862.55 12.80 470.41</u></div>
<div><u>Burford 2.77 13.35 490.442.63 12.88 473.35</u></div>
<div><u>Port Perry 2.70 13.28 487.862.56 12.81 470.78</u></div>
<div><u>Norfolk 2.75 13.33 489.702.75 13.00 477.76</u></div>
<div><u>Palmerston 2.70 13.28 487.862.65 12.90 474.09</u></div>
<div><u>Varna 2.75 13.33 489.702.65 12.90 474.09</u></div>
<div><u>Trenton 2.70 13.28 487.862.60 12.85 472.25</u></div>
<div><u>Winchester 2.80 13.38 491.542.80 13.05 479.60</u></div>
<div><u>North Gower 2.77 13.35 490.442.71 12.96 476.29</u></div>
<div><u>Huron FOB 2.85 13.43 493.382.75 13.00 477.76</u></div>
<div><u>Kent FOB 2.80 13.38 491.542.60 12.85 472.25</u></div>
<div><u>Lambton FOB 2.65 13.23 486.032.70 12.95 475.92</u></div>
<div><u>Middlesex FOB2.81 2.87 2.92 N/A 13.39 491.912.70 12.95 475.92</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Hamilton 3.15 3.20 3.25 N/A 13.73 504.403.05 13.30 488.78</u></div>
<div><u> N/A N/A N/A</u></div>
<div><u>TRANSFER</u></div>
<div><u>Prescott 2.95 13.53 497.053.00 13.25 486.95</u></div>
<div><u>Sarnia 2.75 13.33 489.702.95 13.20 485.11</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.53 10.05 369.19-0.52 9.74 357.76</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Bank of Canada Noon exchange rate was 1.3289 down 0.0050</u></div>
<div><u>Chicago wheat closed slightly higher.</u></div>
<div><u>MAR17 HI 4.33 3/4 JUL17 HI 4.61 3/4</u></div>
<div><u> LOW 4.27 1/2 LOW 4.56 1/2</u></div>
<div><u> CLOSE 4.33 1/4 Up 5 CLOSE 4.61 1/2 Up 3</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly lower.</u></div>
<div><u>MAR17 HI 5.70 1/4 SEP17 HI 5.58</u></div>
<div><u> LOW 5.63 1/4 LOW 5.55 1/4</u></div>
<div><u> CLOSE 5.64 1/4 Down 4 1/4 CLOSE 5.56 1/4 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 0.51</u></div>
<div><u>CAD $/bu 5.21 5.21 5.21 6.15</u></div>
<div><u>CAD $/tonne 191.35 191.35 191.35 225.89</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 0.70 N/A</u></div>
<div><u>London 0.75 0.75 0.75 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 0.49 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 0.70 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 1.10 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 0.18 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 0.77 0.77 0.38 N/A 0.95 0.95 0.69</u></div>
<div><u>W O Feed 1.47</u></div>
<div><u><br>
</u></div>
<div><u>TERMINAL</u></div>
<div><u>Sarnia 1.19 0.84 0.94 N/A 1.21 0.86 0.96 N/A</u></div>
<div><u>Prescott N/A N/A 0.82 N/A N/A N/A 1.04 0.82</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. 4.18US 5.54CA 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 0.89 0.89 0.74</u></div>
<div><u>CAD $/bu 5.58 5.51 5.51 6.30</u></div>
<div><u>CAD $/tonne 204.85 202.42 202.42 231.46</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 514.24</u></div>
<div><u>DDG's FOB Srn & Aylm 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:#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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