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<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Tue, May 23</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.3498 down 0.0003</u></div>
<div><u>Chicago corn closed slightly lower.</u></div>
<div><u><br>
</u></div>
<div><u> JUL17 HI 3.75 3/4 DEC17 HI 3.93 1/4</u></div>
<div><u> LOW 3.69 LOW 3.87</u></div>
<div><u> CLOSE3.69 1/2 Down 5 1/2 CLOSE 3.87 3/4 Down 5</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 4.40 173.02 0.85 4.73 186.11</u></div>
<div><u>CK High 0.80 4.50 176.96 0.95 4.83 190.05</u></div>
<div><u>CK Avg 0.75 -0.40 4.45 174.99 0.90 -0.34 4.78 188.08</u></div>
<div><u>Essex Cty 0.60 4.30 169.09 0.85 4.73 186.11</u></div>
<div><u>Mdsx Low 0.75 4.45 174.99 0.90 4.78 188.08</u></div>
<div><u>Mdsx High 0.75 4.45 174.99 0.90 4.78 188.08</u></div>
<div><u>Mdsx Avg 0.75 -0.40 4.45 174.99 0.90 -0.34 4.78 188.08</u></div>
<div><u>Hensall 0.78 4.47 175.98 0.93 4.80 189.07</u></div>
<div><u>Bruce 0.80 4.50 176.96 1.00 4.88 192.02</u></div>
<div><u>Putnam 0.75 4.45 174.99 0.95 4.83 190.05</u></div>
<div><u>Burford 0.75 4.45 174.99 0.95 4.83 190.05</u></div>
<div><u>Port Perry 1.00 4.70 184.83 1.00 4.88 192.02</u></div>
<div><u>Norfolk 0.85 4.55 178.93 1.00 4.88 192.02</u></div>
<div><u>Palmerston 0.75 4.45 174.99 0.85 4.73 186.11</u></div>
<div><u>Varna 0.80 4.50 176.96 0.95 4.83 190.05</u></div>
<div><u>Trenton 1.10 4.80 188.77 1.00 4.88 192.02</u></div>
<div><u>Winchester 1.15 4.85 190.74 1.20 5.08 199.89</u></div>
<div><u>North Gower 1.17 4.87 191.53 1.17 5.05 198.71</u></div>
<div><u>Huron FOB 1.10 4.80 188.77 0.95 4.83 190.05</u></div>
<div><u>Kent FOB 1.05 4.75 186.80 0.90 4.78 188.08</u></div>
<div><u>Lamb FOB 1.05 4.75 186.80 0.90 4.78 188.08</u></div>
<div><u>Mdsx FOB 1.00 1.00 1.00N/A 4.70 184.83 1.00 4.88 192.02</u></div>
<div><u>FOB SW Que 1.35 5.05 198.61N/A</u></div>
<div><u>Track 1.28 4.97 195.66N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A N/A N/A 1.25 5.13 201.86</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 4.98 195.96</u></div>
<div><u>Sarn-Eth 1.25 1.25 1.25 1.30 4.95 194.68N/A</u></div>
<div><u>Kawartha N/A N/A N/A N/A 1.35 5.23 205.80</u></div>
<div><u>London-Ing N/A N/A N/A 1.40 1.20 5.08 199.89</u></div>
<div><u>Pt.Colb-Ing N/A N/A N/A N/A 1.20 5.08 199.89</u></div>
<div><u>Cardnl-Ing N/A N/A N/A 1.60 1.36 5.24 206.19</u></div>
<div><u>W O Feed 1.45 5.15 202.71</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.72 5.42 213.18</u></div>
<div><u>Toledo El. -0.11 3.59 141.21 -0.34 3.54 139.37</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Sarnia 1.20 4.90 192.71 0.95 4.83190</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 0.90 1 4.77 3/4</u></div>
<div><u>HI SD CRN 0.95 4.82 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 1.3498 down 0.0003</u></div>
<div><u>Chicago soybeans closed slightly lower.</u></div>
<div><u><br>
</u></div>
<div><u> JUL17 HI 9.59 1/4 NOV17 HI 9.58 1/2</u></div>
<div><u> LOW 9.47 LOW 9.47 1/2</u></div>
<div><u> CLOSE9.48 1/4 Down 8 1/4 CLOSE 9.48 1/2 Down 7 3/4</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 +JUL1+JUL1+NOV17</u></div>
<div><u>CK Low 2.65 12.13 445.792.39 11.88 436.33</u></div>
<div><u>CK High 2.75 12.23 449.472.43 11.92 437.80</u></div>
<div><u>CK Average 2.71 -0.4512.19 447.812.40 -0.6811.89 436.82</u></div>
<div><u>Essex Cty 2.75 12.23 449.472.40 11.89 436.70</u></div>
<div><u>Mdsx Low 2.68 12.16 446.902.41 11.90 437.07</u></div>
<div><u>Mdsx High 2.75 12.23 449.472.45 11.94 438.54</u></div>
<div><u>Mdsx Average 2.72 -0.4512.20 448.182.43 -0.6611.92 437.80</u></div>
<div><u>Hensall 2.75 12.23 449.472.45 11.94 438.54</u></div>
<div><u>Bruce 2.75 12.23 449.472.45 11.94 438.54</u></div>
<div><u>Putnam 2.90 12.38 454.982.60 12.09 444.05</u></div>
<div><u>Burford 2.77 12.25 450.202.50 11.99 440.37</u></div>
<div><u>Port Perry 2.68 12.16 446.902.41 11.90 437.07</u></div>
<div><u>Norfolk 2.70 12.18 447.632.44 11.93 438.17</u></div>
<div><u>Palmerston 2.80 12.28 451.302.45 11.94 438.54</u></div>
<div><u>Varna 2.75 12.23 449.472.45 11.94 438.54</u></div>
<div><u>Trenton 2.90 12.38 454.982.65 12.14 445.88</u></div>
<div><u>Winchester 2.72 12.20 448.372.80 12.29 451.40</u></div>
<div><u>North Gower 2.48 11.96 439.552.65 12.14 445.88</u></div>
<div><u>Huron FOB 2.87 12.35 453.882.55 12.04 442.21</u></div>
<div><u>Kent FOB 2.80 12.28 451.302.39 11.88 436.33</u></div>
<div><u>Lambton FOB 2.85 12.33 453.142.65 12.14 445.88</u></div>
<div><u>Middlesex FOB2.85 2.85 N/A N/A 12.33 453.142.58 12.07 443.31</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Hamilton 3.17 3.05 3.05 N/A 12.65 464.902.95 12.44 456.91</u></div>
<div><u> N/A N/A N/A</u></div>
<div><u>TRANSFER</u></div>
<div><u>Prescott 2.77 12.25 450.202.89 12.38 454.70</u></div>
<div><u>Sarnia 2.49 11.97 439.912.74 12.23 449.19</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.31 9.17 337.01-0.57 8.92 327.68</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.3498 down 0.0003</u></div>
<div><u>Chicago wheat closed slightly lower.</u></div>
<div><u>JUL17 HI 4.35 3/4 JUL17 HI 4.35 3/4</u></div>
<div><u> LOW 4.28 LOW 4.28</u></div>
<div><u> CLOSE 4.29 1/2 Down 4 3/4 CLOSE 4.29 1/2 Down 4 3/4</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly lower.</u></div>
<div><u>JUL17 HI 5.59 1/4 SEP17 HI 5.65 1/2</u></div>
<div><u> LOW 5.52 1/2 LOW 5.58 1/2</u></div>
<div><u> CLOSE 5.54 1/4 Down 5 CLOSE 5.60 1/4 Down 5 1/4</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 0.56 0.56 0.56 0.25</u></div>
<div><u>CAD $/bu 4.85 4.85 4.85 5.79</u></div>
<div><u>CAD $/tonne 178.30 178.30 178.30 212.89</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 0.75 N/A N/A N/A 0.90 N/A</u></div>
<div><u>London 0.85 0.78 0.78 N/A 1.05 0.85 0.88 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 0.54 N/A N/A N/A 0.64 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 0.90 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 0.75 0.70 0.45 N/A 0.90 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 0.20 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 0.48 0.48 0.07 N/A 1.17 1.17 0.46</u></div>
<div><u>W O Feed 1.45</u></div>
<div><u><br>
</u></div>
<div><u>TERMINAL</u></div>
<div><u>Sarnia 1.12 N/A 1.10 N/A 1.29 N/A 1.20 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 1.37N/A N/A N/A 1.43N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 4.15US 5.59CA 4.15US 5.59CA</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 1.10 1.10 1.10 0.54</u></div>
<div><u>CAD $/bu 5.39 5.39 5.39 6.14</u></div>
<div><u>CAD $/tonne 198.14 198.14 198.14 225.79</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 451.18</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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