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<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, March 23</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Bank of Canada Noon exchange rate was 1.3333 down 0.0014</u></div>
<div><u>Chicago corn closed slightly lower.</u></div>
<div><u><br>
</u></div>
<div><u> MAY17 HI 3.59 3/4 DEC17 HI 3.82 3/4</u></div>
<div><u> LOW 3.56 1/4 LOW 3.79 1/2</u></div>
<div><u> CLOSE3.56 3/4 Down 2 CLOSE 3.80 Down 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+JUL17+JUL17</u></div>
<div><u>CK Low 0.65 4.22 166.04 0.75 4.55 179.13</u></div>
<div><u>CK High 0.70 4.27 168.00 0.80 4.60 181.09</u></div>
<div><u>CK Avg 0.67 -0.39 4.23 166.69 0.76 -0.38 4.56 179.45</u></div>
<div><u>Essex Cty 0.55 4.12 162.10 0.75 4.55 179.13</u></div>
<div><u>Mdsx Low 0.65 4.22 166.04 0.75 4.55 179.13</u></div>
<div><u>Mdsx High 0.65 4.22 166.04 0.80 4.60 181.09</u></div>
<div><u>Mdsx Avg 0.65 -0.40 4.22 166.04 0.78 -0.37 4.58 180.11</u></div>
<div><u>Hensall 0.68 4.24 167.02 0.83 4.63 182.08</u></div>
<div><u>Bruce 0.70 4.27 168.00 0.85 4.65 183.06</u></div>
<div><u>Putnam 0.65 4.22 166.04 0.80 4.60 181.09</u></div>
<div><u>Burford 0.70 4.27 168.00 0.80 4.60 181.09</u></div>
<div><u>Port Perry 0.90 4.47 175.88 0.85 4.65 183.06</u></div>
<div><u>Norfolk 0.75 4.32 169.97 0.85 4.65 183.06</u></div>
<div><u>Palmerston 0.75 4.32 169.97 0.80 4.60 181.09</u></div>
<div><u>Varna 0.70 4.27 168.00 0.85 4.65 183.06</u></div>
<div><u>Trenton 1.00 4.57 179.81 0.90 4.70 185.03</u></div>
<div><u>Winchester 1.15 4.72 185.72 1.10 4.90 192.90</u></div>
<div><u>North Gower 1.12 4.69 184.54 1.05 4.85 190.94</u></div>
<div><u>Huron FOB 1.00 4.57 179.81 0.85 4.65 183.06</u></div>
<div><u>Kent FOB 0.95 4.52 177.85 0.75 4.55 179.13</u></div>
<div><u>Lamb FOB 0.95 4.52 177.85 0.80 4.60 181.09</u></div>
<div><u>Mdsx FOB 0.85 0.85 0.90 0.85 4.42 173.91 0.75 4.55 179.13</u></div>
<div><u>FOB SW Que 1.13 4.70 184.93N/A</u></div>
<div><u>Track 1.19 4.76 187.29N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A 1.15 1.15 1.18 1.00 4.80 188.97</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 N/A 1.00 4.80 188.97</u></div>
<div><u>Sarn-Eth 1.15 1.20 1.25 1.30 4.72 185.72N/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 0.98 4.78 188.18</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 N/A 1.20 5.00 196.84</u></div>
<div><u>W O Feed 1.34 4.91 193.20</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.50 5.07 199.50</u></div>
<div><u>Toledo El. -0.13 3.43 135.20 -0.33 3.47 136.48</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Sarnia 1.10 4.67 183.75 0.95 4.75187</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 0.67 1/2 4.24 1/4</u></div>
<div><u>HI SD CRN 0.70 4.26 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 1.3333 down 0.0014</u></div>
<div><u>Chicago soybeans closed slightly lower.</u></div>
<div><u><br>
</u></div>
<div><u> MAY17 HI 10.02 NOV17 HI 10.00 1/2</u></div>
<div><u> LOW 9.90 1/4 LOW 9.90 1/4</u></div>
<div><u> CLOSE9.91 Down 8 3/4 CLOSE 9.91 1/4 Down 7 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 +MAY1+MAY1+JUL17</u></div>
<div><u>CK Low 2.59 12.50 459.302.47 12.38 454.98</u></div>
<div><u>CK High 2.65 12.56 461.502.55 12.46 457.92</u></div>
<div><u>CK Average 2.63 -0.5012.54 460.832.50 -0.6012.42 456.20</u></div>
<div><u>Essex Cty 2.65 12.56 461.502.50 12.41 456.08</u></div>
<div><u>Mdsx Low 2.59 12.50 459.302.45 12.36 454.24</u></div>
<div><u>Mdsx High 2.70 12.61 463.342.55 12.46 457.92</u></div>
<div><u>Mdsx Average 2.65 -0.4912.56 461.322.50 -0.6012.41 456.08</u></div>
<div><u>Hensall 2.68 12.59 462.422.55 12.46 457.92</u></div>
<div><u>Bruce 2.70 12.61 463.342.55 12.46 457.92</u></div>
<div><u>Putnam 2.65 12.56 461.502.50 12.41 456.08</u></div>
<div><u>Burford 2.68 12.59 462.602.54 12.45 457.55</u></div>
<div><u>Port Perry 2.59 12.50 459.302.45 12.36 454.24</u></div>
<div><u>Norfolk 2.65 12.56 461.502.55 12.46 457.92</u></div>
<div><u>Palmerston 2.65 12.56 461.502.50 12.41 456.08</u></div>
<div><u>Varna 2.65 12.56 461.502.55 12.46 457.92</u></div>
<div><u>Trenton 2.70 12.61 463.342.55 12.46 457.92</u></div>
<div><u>Winchester 2.62 12.53 460.402.55 12.46 457.92</u></div>
<div><u>North Gower 2.52 12.43 456.722.64 12.55 461.23</u></div>
<div><u>Huron FOB 2.80 12.71 467.012.65 12.56 461.59</u></div>
<div><u>Kent FOB 2.75 12.66 465.182.50 12.41 456.08</u></div>
<div><u>Lambton FOB 2.65 12.56 461.502.55 12.46 457.92</u></div>
<div><u>Middlesex FOB2.79 2.79 2.84 N/A 12.70 466.652.68 12.59 462.70</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Hamilton 3.12 3.12 3.05 N/A 13.03 478.773.01 12.92 474.82</u></div>
<div><u> N/A N/A N/A</u></div>
<div><u>TRANSFER</u></div>
<div><u>Prescott 2.80 12.71 467.012.97 12.88 473.35</u></div>
<div><u>Sarnia 2.63 12.54 460.772.86 12.77 469.31</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.39 9.52 349.93-0.52 9.39 345.12</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Bank of Canada Noon exchange rate was 1.3333 down 0.0014</u></div>
<div><u>Chicago wheat closed slightly lower.</u></div>
<div><u>MAY17 HI 4.24 3/4 JUL17 HI 4.39 3/4</u></div>
<div><u> LOW 4.20 LOW 4.35 1/4</u></div>
<div><u> CLOSE 4.21 Down 1 1/4 CLOSE 4.36 Down 1 1/2</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly higher.</u></div>
<div><u>MAY17 HI 5.42 SEP17 HI 5.55 1/2</u></div>
<div><u> LOW 5.37 LOW 5.51</u></div>
<div><u> CLOSE 5.40 3/4 Up 3 CLOSE 5.53 1/2 Up 3 3/4</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 0.67 0.67 0.67 0.33</u></div>
<div><u>CAD $/bu 4.88 4.88 4.88 5.74</u></div>
<div><u>CAD $/tonne 179.24 179.24 179.24 210.95</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 0.75 N/A</u></div>
<div><u>London 0.66 0.60 0.49 N/A 0.78 0.58 0.58 N/A</u></div>
<div><u>Hensall 0.80 N/A 0.70 N/A 0.90 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 0.70 0.70 0.40 0.90 0.65 0.75 0.60</u></div>
<div><u>Essex N/A N/A 0.65 N/A N/A N/A 0.77 N/A</u></div>
<div><u>Norwich 0.80 N/A 0.70 N/A 0.90 N/A 0.75 N/A</u></div>
<div><u>Port Hope N/A N/A 0.70 N/A N/A 0.75 0.80 N/A</u></div>
<div><u>Kent Bridge 0.80 N/A 0.70 N/A 0.90 N/A 0.75 N/A</u></div>
<div><u>Chatham N/A N/A 0.70 N/A N/A N/A 0.75 N/A</u></div>
<div><u>Brigden N/A N/A 0.70 N/A N/A N/A 0.75 N/A</u></div>
<div><u>Palmerston N/A 0.70 0.70 N/A N/A 0.70 0.75 0.60</u></div>
<div><u>Varna 0.80 0.70 0.70 N/A 1.05 0.75 0.75 N/A</u></div>
<div><u>Mitchell 0.80 0.70 0.70 N/A 0.90 0.75 0.75 N/A</u></div>
<div><u>Thornton N/A N/A N/A 0.14 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 0.57 0.57 0.12 N/A 1.11 1.11 0.66</u></div>
<div><u>W O Feed 1.38</u></div>
<div><u><br>
</u></div>
<div><u>TERMINAL</u></div>
<div><u>Sarnia N/A N/A 1.02 N/A N/A N/A 1.13 N/A</u></div>
<div><u>Prescott N/A N/A N/A N/A N/A N/A 0.99 N/A</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 1.45N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 4.06US 5.41CA 4.21US 5.61CA</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 0.78</u></div>
<div><u>CAD $/bu 5.41 5.41 5.41 6.31</u></div>
<div><u>CAD $/tonne 198.83 198.83 198.83 231.88</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 484.69</u></div>
<div><u>DDG's FOB Srn & Aylm 165.00 - 170.00</u></div>
<div><br>
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<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>
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