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<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, February 23</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Bank of Canada Noon exchange rate was 1.3109 down 0.0078</u></div>
<div><u>Chicago corn closed slightly lower.</u></div>
<div><u><br>
</u></div>
<div><u> MAR17 HI 3.71 3/4 DEC17 HI 3.97 3/4</u></div>
<div><u> LOW 3.65 1/4 LOW 3.91 1/2</u></div>
<div><u> CLOSE3.65 1/2 Down 5 1/2 CLOSE 3.91 3/4 Down 5 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 +MAY17+MAY17+JUL17</u></div>
<div><u>CK Low 0.65 4.31 169.48 0.75 4.67 183.75</u></div>
<div><u>CK High 0.77 4.43 174.20 0.80 4.72 185.72</u></div>
<div><u>CK Avg 0.69 -0.35 4.34 170.86 0.76 -0.35 4.68 184.08</u></div>
<div><u>Essex Cty 0.57 4.23 166.33 0.75 4.67 183.75</u></div>
<div><u>Mdsx Low 0.65 4.31 169.48 0.75 4.67 183.75</u></div>
<div><u>Mdsx High 0.65 4.31 169.48 0.75 4.67 183.75</u></div>
<div><u>Mdsx Avg 0.65 -0.37 4.31 169.48 0.75 -0.35 4.67 183.75</u></div>
<div><u>Hensall 0.68 4.33 170.46 0.78 4.69 184.74</u></div>
<div><u>Bruce 0.75 4.41 173.42 0.80 4.72 185.72</u></div>
<div><u>Putnam 0.65 4.31 169.48 0.80 4.72 185.72</u></div>
<div><u>Burford 0.65 4.31 169.48 0.75 4.67 183.75</u></div>
<div><u>Port Perry 1.00 4.66 183.26 0.80 4.72 185.72</u></div>
<div><u>Norfolk 0.82 4.48 176.17 0.85 4.77 187.69</u></div>
<div><u>Palmerston 0.75 4.41 173.42 0.80 4.72 185.72</u></div>
<div><u>Varna 0.70 4.36 171.45 0.80 4.72 185.72</u></div>
<div><u>Trenton 1.05 4.71 185.23 0.80 4.72 185.72</u></div>
<div><u>Winchester 1.19 4.85 190.74 1.09 5.01 197.14</u></div>
<div><u>North Gower 1.11 4.77 187.59 1.05 4.97 195.56</u></div>
<div><u>Huron FOB 1.05 4.71 185.23 0.85 4.77 187.69</u></div>
<div><u>Kent FOB 1.02 4.68 184.05 0.75 4.67 183.75</u></div>
<div><u>Lamb FOB 1.00 4.66 183.26 0.75 4.67 183.75</u></div>
<div><u>Mdsx FOB 0.85 0.90 0.90N/A 4.51 177.35 0.75 4.67 183.75</u></div>
<div><u>FOB SW Que 1.21 4.87 191.53N/A</u></div>
<div><u>Track 1.24 4.90 192.71N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A 1.10 1.10 1.15 0.95 4.87 191.63</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 0.95 4.87 191.63</u></div>
<div><u>Sarn-Eth 1.15 1.15 1.15 1.20 4.81 189.16N/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 0.93 4.85 190.84</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 1.05 4.97 195.56</u></div>
<div><u>W O Feed 1.42 5.08 199.87</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.60 5.26 206.88</u></div>
<div><u>Toledo El. -0.05 3.60 141.83 -0.33 3.59 141.33</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Sarnia 1.05 4.71 185.23 0.95 4.87191 5/8</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 0.71 4.36 1/2</u></div>
<div><u>HI SD CRN 0.77 4.42 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 1.3109 down 0.0078</u></div>
<div><u>Chicago soybeans closed slightly to moderately lower.</u></div>
<div><u><br>
</u></div>
<div><u> MAR17 HI 10.27 NOV17 HI 10.16 3/4</u></div>
<div><u> LOW 10.10 LOW 10.03</u></div>
<div><u> CLOSE10.11 1/2 Down 11 1/4 CLOSE 10.04 1/2 Down 9</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 12.57 461.682.31 12.36 453.97</u></div>
<div><u>CK High 2.55 12.67 465.362.50 12.55 460.95</u></div>
<div><u>CK Average 2.51 -0.4812.63 464.012.39 -0.5512.44 456.91</u></div>
<div><u>Essex Cty 2.45 12.57 461.682.35 12.40 455.44</u></div>
<div><u>Mdsx Low 2.48 12.60 462.792.29 12.34 453.23</u></div>
<div><u>Mdsx High 2.60 12.72 467.202.45 12.50 459.11</u></div>
<div><u>Mdsx Average 2.54 -0.4612.66 464.992.37 -0.5712.42 456.17</u></div>
<div><u>Hensall 2.55 12.67 465.362.45 12.50 459.11</u></div>
<div><u>Bruce 2.60 12.72 467.202.45 12.50 459.11</u></div>
<div><u>Putnam 2.65 12.77 469.032.45 12.50 459.11</u></div>
<div><u>Burford 2.57 12.69 466.092.38 12.43 456.54</u></div>
<div><u>Port Perry 2.48 12.60 462.792.29 12.34 453.23</u></div>
<div><u>Norfolk 2.60 12.72 467.202.53 12.58 462.05</u></div>
<div><u>Palmerston 2.50 12.62 463.522.40 12.45 457.28</u></div>
<div><u>Varna 2.60 12.72 467.202.45 12.50 459.11</u></div>
<div><u>Trenton 2.50 12.62 463.522.40 12.45 457.28</u></div>
<div><u>Winchester 2.62 12.74 467.932.59 12.64 464.26</u></div>
<div><u>North Gower 2.45 12.57 461.682.43 12.48 458.38</u></div>
<div><u>Huron FOB 2.75 12.87 472.712.60 12.65 464.62</u></div>
<div><u>Kent FOB 2.65 12.77 469.032.43 12.48 458.38</u></div>
<div><u>Lambton FOB 2.60 12.72 467.202.55 12.60 462.79</u></div>
<div><u>Middlesex FOB2.59 2.65 2.60 N/A 12.71 466.832.48 12.53 460.21</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Hamilton 3.03 3.03 3.00 2.85 13.15 483.002.90 12.95 475.65</u></div>
<div><u> N/A N/A N/A</u></div>
<div><u>TRANSFER</u></div>
<div><u>Prescott 2.73 12.85 471.972.85 12.90 473.81</u></div>
<div><u>Sarnia 2.43 12.55 460.952.69 12.74 467.93</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.38 9.73 357.69-0.51 9.53 350.32</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Bank of Canada Noon exchange rate was 1.3109 down 0.0078</u></div>
<div><u>Chicago wheat closed slightly lower.</u></div>
<div><u>MAR17 HI 4.44 1/4 JUL17 HI 4.72 3/4</u></div>
<div><u> LOW 4.36 1/4 LOW 4.65 1/2</u></div>
<div><u> CLOSE 4.38 Down 3 1/4 CLOSE 4.67 Down 2 3/4</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly higher.</u></div>
<div><u>MAR17 HI 5.47 SEP17 HI 5.67 1/4</u></div>
<div><u> LOW 5.42 1/4 LOW 5.63 3/4</u></div>
<div><u> CLOSE 5.44 Up 1 1/4 CLOSE 5.65 1/2 Up 1</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 0.84 0.84 0.84 0.38</u></div>
<div><u>CAD $/bu 5.22 5.22 5.22 5.82</u></div>
<div><u>CAD $/tonne 191.75 191.75 191.75 213.91</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 0.67 0.67 N/A</u></div>
<div><u>Hensall 0.80 N/A 0.70 N/A 0.80 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 0.80 0.70 0.70 0.40 0.80 0.65 0.60 0.60</u></div>
<div><u>Essex N/A N/A 0.40 N/A N/A N/A 0.51 N/A</u></div>
<div><u>Norwich 0.80 N/A 0.70 N/A 0.80 N/A 0.60 N/A</u></div>
<div><u>Port Hope N/A N/A 0.70 N/A N/A 0.65 0.70 N/A</u></div>
<div><u>Kent Bridge 0.80 N/A 0.70 N/A 0.80 N/A 0.60 N/A</u></div>
<div><u>Chatham N/A 0.65 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 0.80 0.70 0.70 N/A 0.95 0.65 0.65 N/A</u></div>
<div><u>Mitchell 0.80 0.70 0.70 N/A 0.80 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 0.77 0.77 0.20 N/A 1.13 1.13 0.62</u></div>
<div><u>W O Feed 1.43</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 0.90 N/A</u></div>
<div><u>Prescott N/A N/A 0.79 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 1.49N/A N/A N/A 1.45N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 3.88US 5.09CA 4.47US 5.86CA</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 1.05 1.05 1.05 0.71</u></div>
<div><u>CAD $/bu 5.72 5.72 5.72 6.36</u></div>
<div><u>CAD $/tonne 210.35 210.35 210.35 233.69</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 491.42</u></div>
<div><u>DDG's FOB Srn & Aylm 155.00 - 160.00</u></div>
<div><u><br>
</u></div>
<u><br>
</u>
<p></p>
<p><u></u></p>
<p class="MsoNormal" style="text-decoration: underline;"><span style="font-size:10.0pt;line-height:115%;font-family:
"Courier New";color:#333333;background:#FDFDFD"><o:p> </o:p></span></p>
<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
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