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<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Tue, May 16</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.3574 down 0.0070</u></div>
<div><u>Chicago corn closed steady to slightly higher.</u></div>
<div><u><br>
</u></div>
<div><u> JUL17 HI 3.68 3/4 DEC17 HI 3.86 1/2</u></div>
<div><u> LOW 3.65 1/4 LOW 3.82 3/4</u></div>
<div><u> CLOSE3.67 3/4 Unchanged CLOSE 3.85 1/2 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 +JUL17+SEP17+SEP17</u></div>
<div><u>CK Low 0.70 4.38 172.33 0.90 4.76 187.20</u></div>
<div><u>CK High 0.80 4.48 176.27 0.95 4.81 189.16</u></div>
<div><u>CK Avg 0.75 -0.42 4.43 174.30 0.94 -0.32 4.80 188.84</u></div>
<div><u>Essex Cty 0.50 4.18 164.46 0.95 4.81 189.16</u></div>
<div><u>Mdsx Low 0.75 4.43 174.30 0.95 4.81 189.16</u></div>
<div><u>Mdsx High 0.75 4.43 174.30 0.95 4.81 189.16</u></div>
<div><u>Mdsx Avg 0.75 -0.42 4.43 174.30 0.95 -0.32 4.81 189.16</u></div>
<div><u>Hensall 0.78 4.45 175.29 0.95 4.81 189.16</u></div>
<div><u>Bruce 0.80 4.48 176.27 1.00 4.86 191.13</u></div>
<div><u>Putnam 0.75 4.43 174.30 0.90 4.76 187.20</u></div>
<div><u>Burford 0.75 4.43 174.30 1.00 4.86 191.13</u></div>
<div><u>Port Perry 1.00 4.68 184.15 1.00 4.86 191.13</u></div>
<div><u>Norfolk 0.85 4.53 178.24 1.00 4.86 191.13</u></div>
<div><u>Palmerston 0.75 4.43 174.30 0.95 4.81 189.16</u></div>
<div><u>Varna 0.80 4.48 176.27 0.95 4.81 189.16</u></div>
<div><u>Trenton 1.15 4.83 190.05 1.00 4.86 191.13</u></div>
<div><u>Winchester 1.15 4.83 190.05 1.20 5.06 199.01</u></div>
<div><u>North Gower 1.15 4.83 190.05 1.17 5.03 197.83</u></div>
<div><u>Huron FOB 1.15 4.83 190.05 1.00 4.86 191.13</u></div>
<div><u>Kent FOB 1.05 4.73 186.11 0.90 4.76 187.20</u></div>
<div><u>Lamb FOB 1.05 4.73 186.11 0.90 4.76 187.20</u></div>
<div><u>Mdsx FOB 1.00 1.00 1.00N/A 4.68 184.15 0.95 4.81 189.16</u></div>
<div><u>FOB SW Que 1.37 5.05 198.71N/A</u></div>
<div><u>Track 1.27 4.94 194.58N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A N/A N/A 1.25 5.11 200.97</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 1.35 1.10 4.96 195.07</u></div>
<div><u>Sarn-Eth 1.25 1.25 1.25 1.30 4.93 193.99N/A</u></div>
<div><u>Kawartha N/A N/A N/A N/A 1.35 5.21 204.91</u></div>
<div><u>London-Ing N/A N/A N/A 1.40 1.20 5.06 199.01</u></div>
<div><u>Pt.Colb-Ing N/A N/A N/A N/A 1.20 5.06 199.01</u></div>
<div><u>Cardnl-Ing N/A N/A N/A 1.60 1.36 5.22 205.31</u></div>
<div><u>W O Feed 1.49 5.17 203.59</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.78 5.46 214.85</u></div>
<div><u>Toledo El. -0.15 3.53 138.90 -0.34 3.52 138.40</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Sarnia 0.65 4.33 170.37 0.95 4.81189 1/6</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 0.92 1/2 4.78</u></div>
<div><u>HI SD CRN 0.95 4.80 1/2</u></div>
<div><u>*Wet Bid</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.3574 down 0.0070</u></div>
<div><u>Chicago soybeans closed slightly to moderately higher.</u></div>
<div><u><br>
</u></div>
<div><u> JUL17 HI 9.77 1/4 NOV17 HI 9.68 1/4</u></div>
<div><u> LOW 9.64 LOW 9.58 3/4</u></div>
<div><u> CLOSE9.76 1/4 Up 11 CLOSE 9.67 3/4 Up 7</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 +JUL1+JUL1+NOV17</u></div>
<div><u>CK Low 2.85 12.61 463.432.50 12.18 447.45</u></div>
<div><u>CK High 2.90 12.66 465.272.65 12.33 452.96</u></div>
<div><u>CK Average 2.86 -0.4612.62 463.862.56 -0.6712.23 449.47</u></div>
<div><u>Essex Cty 2.90 12.66 465.272.55 12.23 449.28</u></div>
<div><u>Mdsx Low 2.87 12.63 464.162.51 12.19 447.81</u></div>
<div><u>Mdsx High 2.90 12.66 465.272.60 12.28 451.12</u></div>
<div><u>Mdsx Average 2.89 -0.4512.65 464.722.56 -0.6712.23 449.47</u></div>
<div><u>Hensall 2.90 12.66 465.272.60 12.28 451.12</u></div>
<div><u>Bruce 2.90 12.66 465.272.60 12.28 451.12</u></div>
<div><u>Putnam 3.00 12.76 468.942.70 12.38 454.80</u></div>
<div><u>Burford 2.96 12.72 467.472.60 12.28 451.12</u></div>
<div><u>Port Perry 2.87 12.63 464.162.51 12.19 447.81</u></div>
<div><u>Norfolk 2.90 12.66 465.272.60 12.28 451.12</u></div>
<div><u>Palmerston 2.95 12.71 467.102.55 12.23 449.28</u></div>
<div><u>Varna 2.90 12.66 465.272.60 12.28 451.12</u></div>
<div><u>Trenton 2.90 12.66 465.272.70 12.38 454.80</u></div>
<div><u>Winchester 2.70 12.46 457.922.80 12.48 458.47</u></div>
<div><u>North Gower 2.58 12.34 453.512.69 12.37 454.43</u></div>
<div><u>Huron FOB 3.05 12.81 470.782.70 12.38 454.80</u></div>
<div><u>Kent FOB 3.00 12.76 468.942.55 12.23 449.28</u></div>
<div><u>Lambton FOB 2.95 12.71 467.102.70 12.38 454.80</u></div>
<div><u>Middlesex FOB2.97 2.97 N/A N/A 12.73 467.842.71 12.39 455.16</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Hamilton 3.37 3.23 3.23 N/A 13.13 482.543.11 12.79 469.86</u></div>
<div><u> N/A N/A N/A</u></div>
<div><u>TRANSFER</u></div>
<div><u>Prescott 2.98 12.74 468.213.08 12.76 468.76</u></div>
<div><u>Sarnia 2.68 12.44 457.182.90 12.58 462.14</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.31 9.45 347.24-0.57 9.11 334.64</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.3574 down 0.0070</u></div>
<div><u>Chicago wheat closed slightly higher.</u></div>
<div><u>JUL17 HI 4.26 JUL17 HI 4.26</u></div>
<div><u> LOW 4.20 1/4 LOW 4.20 1/4</u></div>
<div><u> CLOSE 4.24 1/4 Up 1 CLOSE 4.24 1/4 Up 1</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly lower.</u></div>
<div><u>JUL17 HI 5.44 SEP17 HI 5.51 1/2</u></div>
<div><u> LOW 5.37 1/2 LOW 5.44 1/2</u></div>
<div><u> CLOSE 5.39 3/4 Down 1/4 CLOSE 5.46 3/4 Down 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 0.57 0.57 0.57 0.23</u></div>
<div><u>CAD $/bu 4.81 4.81 4.81 5.63</u></div>
<div><u>CAD $/tonne 176.69 176.69 176.69 206.86</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 0.80 N/A N/A N/A 0.95 N/A</u></div>
<div><u>London 0.88 0.81 0.81 N/A 1.08 0.81 0.90 N/A</u></div>
<div><u>Hensall 0.90 N/A 0.80 N/A 1.10 N/A 0.95 N/A</u></div>
<div><u>Trenton N/A N/A N/A N/A N/A N/A 1.05 N/A</u></div>
<div><u>Bruce 0.90 0.50 0.80 0.30 1.10 0.85 0.95 0.65</u></div>
<div><u>Essex N/A N/A 0.58 N/A N/A N/A 0.73 N/A</u></div>
<div><u>Norwich 0.90 N/A 0.80 N/A 1.10 N/A 0.95 N/A</u></div>
<div><u>Port Hope N/A N/A 0.85 N/A N/A 0.95 1.05 N/A</u></div>
<div><u>Kent Bridge 0.90 N/A 0.80 N/A 1.10 N/A 0.95 N/A</u></div>
<div><u>Chatham N/A N/A 0.80 N/A N/A N/A 0.90 N/A</u></div>
<div><u>Brigden N/A N/A 0.80 N/A N/A N/A 0.90 N/A</u></div>
<div><u>Palmerston N/A 0.50 0.70 0.30 N/A 0.85 0.90 0.65</u></div>
<div><u>Varna 0.90 0.85 0.80 N/A 1.25 0.90 0.95 N/A</u></div>
<div><u>Mitchell 0.90 0.80 0.80 N/A 1.10 0.95 0.95 N/A</u></div>
<div><u>Thornton N/A N/A N/A 0.34 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 0.49 0.49 0.06 N/A 1.17 1.17 0.46</u></div>
<div><u>W O Feed 1.46</u></div>
<div><u><br>
</u></div>
<div><u>TERMINAL</u></div>
<div><u>Sarnia 1.12 N/A 1.10 N/A 1.36 N/A 1.22 N/A</u></div>
<div><u>Prescott N/A N/A N/A N/A N/A N/A N/A N/A</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Toledo FM N/A N/A 1.38N/A N/A N/A 1.45N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 4.09US 5.56CA 4.09US 5.56CA</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 1.11 1.11 1.11 0.53</u></div>
<div><u>CAD $/bu 5.35 5.35 5.35 6.00</u></div>
<div><u>CAD $/tonne 196.64 196.64 196.64 220.33</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 462.98</u></div>
<div><u>DDG's FOB Srn & Aylm 175.00 - 180.00</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;
background:#FDFDFD"> </span></span><span style="font-size: 10pt; line-height: 115%; font-family: "Courier New"; color: rgb(51, 51, 51);"><br>
<br>
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<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>
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