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<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Mon, May 22</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.3501 down 0.0015</u></div>
<div><u>Chicago corn closed slightly higher.</u></div>
<div><u><br>
</u></div>
<div><u> JUL17 HI 3.77 1/2 DEC17 HI 3.95</u></div>
<div><u> LOW 3.71 3/4 LOW 3.89 1/2</u></div>
<div><u> CLOSE3.75 Up 2 1/2 CLOSE 3.92 3/4 Up 2 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 +JUL17+SEP17+SEP17</u></div>
<div><u>CK Low 0.70 4.45 175.19 0.95 4.88 192.02</u></div>
<div><u>CK High 0.80 4.55 179.13 0.95 4.88 192.02</u></div>
<div><u>CK Avg 0.75 -0.42 4.50 177.16 0.95 -0.31 4.88 192.02</u></div>
<div><u>Essex Cty 0.50 4.25 167.32 0.95 4.88 192.02</u></div>
<div><u>Mdsx Low 0.75 4.50 177.16 0.95 4.88 192.02</u></div>
<div><u>Mdsx High 0.75 4.50 177.16 0.95 4.88 192.02</u></div>
<div><u>Mdsx Avg 0.75 -0.42 4.50 177.16 0.95 -0.31 4.88 192.02</u></div>
<div><u>Hensall 0.78 4.53 178.14 0.95 4.88 192.02</u></div>
<div><u>Bruce 0.80 4.55 179.13 1.00 4.93 193.99</u></div>
<div><u>Putnam 0.75 4.50 177.16 0.95 4.88 192.02</u></div>
<div><u>Burford 0.75 4.50 177.16 1.00 4.93 193.99</u></div>
<div><u>Port Perry 1.00 4.75 187.00 1.00 4.93 193.99</u></div>
<div><u>Norfolk 0.85 4.60 181.09 1.05 4.98 195.96</u></div>
<div><u>Palmerston 0.75 4.50 177.16 0.95 4.88 192.02</u></div>
<div><u>Varna 0.80 4.55 179.13 0.95 4.88 192.02</u></div>
<div><u>Trenton 1.10 4.85 190.94 1.00 4.93 193.99</u></div>
<div><u>Winchester 1.15 4.90 192.90 1.20 5.13 201.86</u></div>
<div><u>North Gower 1.16 4.91 193.30 1.17 5.10 200.68</u></div>
<div><u>Huron FOB 1.15 4.90 192.90 1.00 4.93 193.99</u></div>
<div><u>Kent FOB 1.05 4.80 188.97 0.95 4.88 192.02</u></div>
<div><u>Lamb FOB 1.05 4.80 188.97 0.90 4.83 190.05</u></div>
<div><u>Mdsx FOB 1.00 1.00 1.00N/A 4.75 187.00 0.95 4.88 192.02</u></div>
<div><u>FOB SW Que 1.37 5.12 201.57N/A</u></div>
<div><u>Track 1.27 5.02 197.43N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A N/A N/A 1.25 5.18 203.83</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 5.03 197.92</u></div>
<div><u>Sarn-Eth 1.25 1.25 1.25 1.30 5.00 196.84N/A</u></div>
<div><u>Kawartha N/A N/A N/A N/A 1.35 5.28 207.77</u></div>
<div><u>London-Ing N/A N/A N/A 1.40 1.20 5.13 201.86</u></div>
<div><u>Pt.Colb-Ing N/A N/A N/A N/A 1.20 5.13 201.86</u></div>
<div><u>Cardnl-Ing N/A N/A N/A 1.60 1.36 5.29 208.16</u></div>
<div><u>W O Feed 1.48 5.23 205.82</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.72 5.47 215.34</u></div>
<div><u>Toledo El. -0.11 3.64 143.38 -0.34 3.59 141.33</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Sarnia 1.20 4.95 194.87 0.95 4.88192</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 0.95 4.87 3/4</u></div>
<div><u>HI SD CRN 0.95 4.87 3/4</u></div>
<div><u>*Wet Bid</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.3501 down 0.0015</u></div>
<div><u>Chicago soybeans closed slightly higher.</u></div>
<div><u><br>
</u></div>
<div><u> JUL17 HI 9.61 NOV17 HI 9.59 3/4</u></div>
<div><u> LOW 9.53 LOW 9.51 3/4</u></div>
<div><u> CLOSE9.56 1/2 Up 3 1/2 CLOSE 9.56 1/4 Up 4 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 +JUL1+JUL1+NOV17</u></div>
<div><u>CK Low 2.70 12.27 450.662.39 11.95 439.18</u></div>
<div><u>CK High 2.79 12.36 453.972.49 12.05 442.85</u></div>
<div><u>CK Average 2.75 -0.4412.31 452.442.44 -0.6712.00 440.96</u></div>
<div><u>Essex Cty 2.75 12.32 452.502.40 11.96 439.55</u></div>
<div><u>Mdsx Low 2.79 12.36 453.972.47 12.03 442.12</u></div>
<div><u>Mdsx High 2.80 12.37 454.342.50 12.06 443.22</u></div>
<div><u>Mdsx Average 2.80 -0.4112.36 454.152.49 -0.6412.05 442.67</u></div>
<div><u>Hensall 2.83 12.39 455.252.53 12.09 444.14</u></div>
<div><u>Bruce 2.90 12.47 458.012.60 12.16 446.90</u></div>
<div><u>Putnam 2.90 12.47 458.012.60 12.16 446.90</u></div>
<div><u>Burford 2.88 12.45 457.282.56 12.12 445.43</u></div>
<div><u>Port Perry 2.79 12.36 453.972.47 12.03 442.12</u></div>
<div><u>Norfolk 2.75 12.32 452.502.44 12.00 441.02</u></div>
<div><u>Palmerston 2.80 12.37 454.342.45 12.01 441.38</u></div>
<div><u>Varna 2.85 12.42 456.172.55 12.11 445.06</u></div>
<div><u>Trenton 2.90 12.47 458.012.65 12.21 448.73</u></div>
<div><u>Winchester 2.80 12.37 454.342.80 12.36 454.24</u></div>
<div><u>North Gower 2.50 12.07 443.312.69 12.25 450.20</u></div>
<div><u>Huron FOB 3.00 12.57 461.682.65 12.21 448.73</u></div>
<div><u>Kent FOB 2.85 12.42 456.172.39 11.95 439.18</u></div>
<div><u>Lambton FOB 2.85 12.42 456.172.65 12.21 448.73</u></div>
<div><u>Middlesex FOB2.96 2.96 N/A N/A 12.53 460.212.64 12.20 448.37</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Hamilton 3.27 3.13 3.13 N/A 12.84 471.613.03 12.59 462.70</u></div>
<div><u> N/A N/A N/A</u></div>
<div><u>TRANSFER</u></div>
<div><u>Prescott 2.85 12.42 456.172.96 12.52 460.12</u></div>
<div><u>Sarnia 2.66 12.23 449.192.90 12.46 457.92</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.31 9.25 340.04-0.57 9.00 330.53</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.3501 down 0.0015</u></div>
<div><u>Chicago wheat closed slightly lower.</u></div>
<div><u>JUL17 HI 4.42 1/2 JUL17 HI 4.42 1/2</u></div>
<div><u> LOW 4.34 LOW 4.34</u></div>
<div><u> CLOSE 4.34 1/4 Down 1 CLOSE 4.34 1/4 Down 1</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly higher.</u></div>
<div><u>JUL17 HI 5.61 1/4 SEP17 HI 5.67 1/2</u></div>
<div><u> LOW 5.54 1/4 LOW 5.61 3/4</u></div>
<div><u> CLOSE 5.59 1/4 Up 3 1/2 CLOSE 5.65 1/2 Up 3</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 0.58 0.58 0.58 0.27</u></div>
<div><u>CAD $/bu 4.92 4.92 4.92 5.86</u></div>
<div><u>CAD $/tonne 180.69 180.69 180.69 215.42</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 0.86 0.80 0.80 N/A 1.07 0.86 0.89 N/A</u></div>
<div><u>Hensall 0.85 N/A 0.75 N/A 1.05 N/A 0.90 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 0.85 0.50 0.75 0.30 1.05 0.85 0.90 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 0.85 N/A 0.75 N/A 1.05 N/A 0.90 N/A</u></div>
<div><u>Port Hope N/A N/A 0.85 N/A N/A 0.90 1.05 N/A</u></div>
<div><u>Kent Bridge 0.85 N/A 0.75 N/A 1.05 N/A 0.90 N/A</u></div>
<div><u>Chatham N/A N/A 0.80 N/A N/A N/A 0.85 N/A</u></div>
<div><u>Brigden N/A N/A 0.80 N/A N/A N/A 0.85 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 1.20 0.85 0.90 N/A</u></div>
<div><u>Mitchell 0.85 0.75 0.75 N/A 1.05 0.90 0.90 N/A</u></div>
<div><u>Thornton N/A N/A N/A 0.22 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 0.48 0.48 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 1.39N/A N/A N/A 1.45N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 4.19US 5.66CA 4.19US 5.66CA</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 1.12 1.12 1.12 0.56</u></div>
<div><u>CAD $/bu 5.46 5.46 5.46 6.22</u></div>
<div><u>CAD $/tonne 200.54 200.54 200.54 228.44</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 452.84</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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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);"> to
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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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