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<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, February 16</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Bank of Canada Noon exchange rate was 1.3058 down 0.0026</u></div>
<div><u>Chicago corn closed slightly lower.</u></div>
<div><u><br>
</u></div>
<div><u> MAR17 HI 3.80 DEC17 HI 4.03 3/4</u></div>
<div><u> LOW 3.73 LOW 3.98</u></div>
<div><u> CLOSE3.73 1/2 Down 5 1/4 CLOSE 3.99 Down 3 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 +MAY17+MAY17+JUL17</u></div>
<div><u>CK Low 0.65 4.39 172.63 0.75 4.74 186.61</u></div>
<div><u>CK High 0.70 4.44 174.60 0.80 4.79 188.57</u></div>
<div><u>CK Avg 0.66 -0.37 4.39 172.96 0.76 -0.35 4.75 186.93</u></div>
<div><u>Essex Cty 0.55 4.29 168.69 0.75 4.74 186.61</u></div>
<div><u>Mdsx Low 0.65 4.39 172.63 0.75 4.74 186.61</u></div>
<div><u>Mdsx High 0.65 4.39 172.63 0.75 4.74 186.61</u></div>
<div><u>Mdsx Avg 0.65 -0.38 4.39 172.63 0.75 -0.36 4.74 186.61</u></div>
<div><u>Hensall 0.68 4.41 173.61 0.78 4.77 187.59</u></div>
<div><u>Bruce 0.75 4.49 176.57 0.80 4.79 188.57</u></div>
<div><u>Putnam 0.65 4.39 172.63 0.75 4.74 186.61</u></div>
<div><u>Burford 0.65 4.39 172.63 0.75 4.74 186.61</u></div>
<div><u>Port Perry 1.00 4.74 186.41 0.80 4.79 188.57</u></div>
<div><u>Norfolk 0.75 4.49 176.57 0.85 4.84 190.54</u></div>
<div><u>Palmerston 0.75 4.49 176.57 0.80 4.79 188.57</u></div>
<div><u>Varna 0.70 4.44 174.60 0.80 4.79 188.57</u></div>
<div><u>Trenton 1.05 4.79 188.38 0.80 4.79 188.57</u></div>
<div><u>Winchester 1.15 4.89 192.31 1.10 5.09 200.38</u></div>
<div><u>North Gower 1.14 4.88 191.92 1.00 4.99 196.45</u></div>
<div><u>Huron FOB 1.05 4.79 188.38 0.85 4.84 190.54</u></div>
<div><u>Kent FOB 0.95 4.69 184.44 0.83 4.82 189.76</u></div>
<div><u>Lamb FOB 1.00 4.74 186.41 0.75 4.74 186.61</u></div>
<div><u>Mdsx FOB 0.85 0.90 0.90N/A 4.59 180.50 0.75 4.74 186.61</u></div>
<div><u>FOB SW Que 1.24 4.98 195.86N/A</u></div>
<div><u>Track 1.20 4.94 194.28N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth 1.10 1.10 1.10 1.15 4.84 190.35 0.95 4.94 194.48</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 0.95 4.94 194.48</u></div>
<div><u>Sarn-Eth 1.15 1.15 1.15 1.20 4.89 192.31N/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 1.03 5.02 197.63</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 1.45 1.13 5.12 201.57</u></div>
<div><u>W O Feed 1.41 5.15 202.71</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.67 5.41 212.79</u></div>
<div><u>Toledo El. -0.05 3.68 144.98 -0.33 3.66 144.23</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Sarnia 1.05 4.79 188.38 0.95 4.94194 1/2</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 0.67 1/2 4.41</u></div>
<div><u>HI SD CRN 0.70 4.43 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 1.3058 down 0.0026</u></div>
<div><u>Chicago soybeans closed slightly to moderately lower.</u></div>
<div><u><br>
</u></div>
<div><u> MAR17 HI 10.62 3/4 NOV17 HI 10.34 1/2</u></div>
<div><u> LOW 10.42 1/4 LOW 10.20 1/2</u></div>
<div><u> CLOSE10.43 3/4 Down 17 1/2 CLOSE 10.24 Down 10 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+MAY1+MAY17</u></div>
<div><u>CK Low 2.45 12.89 473.532.32 12.56 461.50</u></div>
<div><u>CK High 2.55 12.99 477.212.45 12.69 466.28</u></div>
<div><u>CK Average 2.53 -0.5112.96 476.352.36 -0.5912.60 463.03</u></div>
<div><u>Essex Cty 2.45 12.89 473.532.35 12.59 462.60</u></div>
<div><u>Mdsx Low 2.54 12.98 476.842.33 12.57 461.87</u></div>
<div><u>Mdsx High 2.60 13.04 479.052.40 12.64 464.44</u></div>
<div><u>Mdsx Average 2.57 -0.4813.01 477.942.37 -0.5812.61 463.15</u></div>
<div><u>Hensall 2.58 13.01 478.132.40 12.64 464.44</u></div>
<div><u>Bruce 2.60 13.04 479.052.40 12.64 464.44</u></div>
<div><u>Putnam 2.50 12.94 475.372.35 12.59 462.60</u></div>
<div><u>Burford 2.63 13.07 480.152.42 12.66 465.18</u></div>
<div><u>Port Perry 2.54 12.98 476.842.33 12.57 461.87</u></div>
<div><u>Norfolk 2.57 13.01 477.942.47 12.71 467.01</u></div>
<div><u>Palmerston 2.50 12.94 475.372.40 12.64 464.44</u></div>
<div><u>Varna 2.55 12.99 477.212.40 12.64 464.44</u></div>
<div><u>Trenton 2.55 12.99 477.212.35 12.59 462.60</u></div>
<div><u>Winchester 2.57 13.01 477.942.60 12.84 471.79</u></div>
<div><u>North Gower 2.48 12.92 474.642.50 12.74 468.11</u></div>
<div><u>Huron FOB 2.65 13.09 480.882.50 12.74 468.11</u></div>
<div><u>Kent FOB 2.62 13.06 479.782.32 12.56 461.50</u></div>
<div><u>Lambton FOB 2.70 13.14 482.722.60 12.84 471.79</u></div>
<div><u>Middlesex FOB2.64 2.71 2.66 N/A 13.08 480.522.49 12.73 467.75</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Hamilton 3.07 3.10 3.06 N/A 13.51 496.322.85 13.09 480.98</u></div>
<div><u> N/A N/A N/A</u></div>
<div><u>TRANSFER</u></div>
<div><u>Prescott 2.71 13.15 483.092.80 13.04 479.14</u></div>
<div><u>Sarnia 2.43 12.87 472.802.68 12.92 474.73</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.54 9.90 363.83-0.51 9.73 357.55</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Bank of Canada Noon exchange rate was 1.3058 down 0.0026</u></div>
<div><u>Chicago wheat closed moderately lower.</u></div>
<div><u>MAR17 HI 4.64 1/4 JUL17 HI 4.88 3/4</u></div>
<div><u> LOW 4.45 1/4 LOW 4.71 1/4</u></div>
<div><u> CLOSE 4.47 3/4 Down 7 CLOSE 4.73 3/4 Down 6 1/4</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed moderately lower to lower.</u></div>
<div><u>MAR17 HI 5.67 1/2 SEP17 HI 5.78</u></div>
<div><u> LOW 5.48 1/2 LOW 5.64 3/4</u></div>
<div><u> CLOSE 5.50 1/4 Down 17 3/4 CLOSE 5.66 Down 11 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 0.85 0.85 0.85 0.38</u></div>
<div><u>CAD $/bu 5.33 5.33 5.33 5.88</u></div>
<div><u>CAD $/tonne 195.72 195.72 195.72 216.12</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 0.73 0.73 0.73 N/A 0.74 0.67 0.67 N/A</u></div>
<div><u>Hensall 0.70 N/A 0.70 N/A 0.65 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 0.70 0.70 0.40 0.65 0.65 0.60 0.60</u></div>
<div><u>Essex N/A N/A 0.51 N/A N/A N/A 0.50 N/A</u></div>
<div><u>Norwich 0.70 N/A 0.70 N/A 0.65 N/A 0.60 N/A</u></div>
<div><u>Port Hope N/A N/A 0.70 N/A N/A 0.60 0.60 N/A</u></div>
<div><u>Kent Bridge 0.70 N/A 0.70 N/A 0.65 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 0.70 0.70 0.40 N/A 0.65 0.60 0.60</u></div>
<div><u>Varna 0.75 0.70 0.70 N/A 0.95 0.65 0.65 N/A</u></div>
<div><u>Mitchell 0.70 0.70 0.70 N/A 0.65 0.60 0.60 N/A</u></div>
<div><u>Thornton N/A N/A N/A 0.42 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 0.78 0.78 0.24 N/A 1.13 1.13 0.63</u></div>
<div><u>W O Feed 1.45</u></div>
<div><u><br>
</u></div>
<div><u>TERMINAL</u></div>
<div><u>Sarnia 1.14 0.79 0.94 N/A 1.11 0.76 0.88 N/A</u></div>
<div><u>Prescott N/A N/A 0.80 N/A N/A N/A 1.00 N/A</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Toledo FM N/A N/A 1.50N/A N/A N/A 1.45N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 4.38US 5.72CA 4.54US 5.92CA</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 1.06 1.06 1.06 0.68</u></div>
<div><u>CAD $/bu 5.79 5.79 5.79 6.34</u></div>
<div><u>CAD $/tonne 212.85 212.85 212.85 233.11</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 511.48</u></div>
<div><u>DDG's FOB Srn & Aylm 145.00 - 155.00</u></div>
<div><br>
</div>
<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>
<span style="background:#FDFDFD">Fax.<span class="apple-converted-space"> </span></span></span><a href="callto:519-674-1530"><span style="font-size:10.0pt;line-height:115%;
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background:#FDFDFD"> </span></span><span style="font-size:10.0pt;
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