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<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Fri, May 26</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.3445 down 0.0027</u></div>
<div><u>Chicago corn closed slightly higher.</u></div>
<div><u><br>
</u></div>
<div><u> JUL17 HI 3.74 3/4 DEC17 HI 3.93</u></div>
<div><u> LOW 3.68 3/4 LOW 3.86 3/4</u></div>
<div><u> CLOSE3.74 1/4 Up 5 CLOSE 3.92 1/2 Up 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 4.44 174.89 0.85 4.78 187.98</u></div>
<div><u>CK High 0.80 4.54 178.83 0.95 4.88 191.92</u></div>
<div><u>CK Avg 0.75 -0.40 4.49 176.86 0.93 -0.31 4.86 191.26</u></div>
<div><u>Essex Cty 0.60 4.34 170.96 0.85 4.78 187.98</u></div>
<div><u>Mdsx Low 0.75 4.49 176.86 0.95 4.88 191.92</u></div>
<div><u>Mdsx High 0.75 4.49 176.86 0.95 4.88 191.92</u></div>
<div><u>Mdsx Avg 0.75 -0.40 4.49 176.86 0.95 -0.30 4.88 191.92</u></div>
<div><u>Hensall 0.78 4.52 177.85 0.95 4.88 191.92</u></div>
<div><u>Bruce 0.80 4.54 178.83 1.00 4.93 193.89</u></div>
<div><u>Putnam 0.75 4.49 176.86 0.95 4.88 191.92</u></div>
<div><u>Burford 0.75 4.49 176.86 0.95 4.88 191.92</u></div>
<div><u>Port Perry 1.00 4.74 186.70 0.95 4.88 191.92</u></div>
<div><u>Norfolk 0.85 4.59 180.80 1.05 4.98 195.86</u></div>
<div><u>Palmerston 0.75 4.49 176.86 0.85 4.78 187.98</u></div>
<div><u>Varna 0.80 4.54 178.83 0.95 4.88 191.92</u></div>
<div><u>Trenton 1.10 4.84 190.64 1.00 4.93 193.89</u></div>
<div><u>Winchester 1.16 4.90 193.00 1.14 5.07 199.40</u></div>
<div><u>North Gower 1.15 4.89 192.61 1.17 5.10 200.58</u></div>
<div><u>Huron FOB 1.15 4.89 192.61 1.00 4.93 193.89</u></div>
<div><u>Kent FOB 1.05 4.79 188.67 0.95 4.88 191.92</u></div>
<div><u>Lamb FOB 1.05 4.79 188.67 0.90 4.83 189.95</u></div>
<div><u>Mdsx FOB 1.00 1.00 0.95N/A 4.74 186.70 0.95 4.88 191.92</u></div>
<div><u>FOB SW Que 1.35 5.09 200.48N/A</u></div>
<div><u>Track 1.28 5.02 197.53N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A N/A N/A 1.25 5.18 203.73</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 5.03 197.83</u></div>
<div><u>Sarn-Eth 1.25 1.25 1.25 1.30 4.99 196.55N/A</u></div>
<div><u>Kawartha N/A N/A N/A N/A 1.35 5.28 207.67</u></div>
<div><u>London-Ing N/A N/A N/A 1.40 1.20 5.13 201.76</u></div>
<div><u>Pt.Colb-Ing N/A N/A N/A N/A 1.20 5.13 201.76</u></div>
<div><u>Cardnl-Ing N/A N/A N/A 1.60 1.36 5.29 208.06</u></div>
<div><u>W O Feed 1.45 5.19 204.26</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.68 5.42 213.47</u></div>
<div><u>Toledo El. -0.09 3.65 143.63 -0.34 3.59 141.29</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Sarnia 1.20 4.94 194.58 0.95 4.88192</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 0.90 1 4.82 1/2</u></div>
<div><u>HI SD CRN 0.95 4.87 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 1.3445 down 0.0027</u></div>
<div><u>Chicago soybeans closed slightly to moderately lower.</u></div>
<div><u><br>
</u></div>
<div><u> JUL17 HI 9.41 NOV17 HI 9.40 3/4</u></div>
<div><u> LOW 9.25 1/4 LOW 9.28</u></div>
<div><u> CLOSE9.26 1/2 Down 13 CLOSE 9.29 1/4 Down 10</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 2.61 11.88 436.332.25 11.54 424.11</u></div>
<div><u>CK High 2.65 11.92 437.802.30 11.59 425.95</u></div>
<div><u>CK Average 2.64 -0.4111.91 437.432.29 -0.6811.58 425.40</u></div>
<div><u>Essex Cty 2.65 11.92 437.802.25 11.54 424.11</u></div>
<div><u>Mdsx Low 2.61 11.88 436.332.26 11.55 424.48</u></div>
<div><u>Mdsx High 2.70 11.97 439.642.35 11.64 427.79</u></div>
<div><u>Mdsx Average 2.66 -0.4011.92 437.992.31 -0.6711.60 426.14</u></div>
<div><u>Hensall 2.70 11.97 439.642.35 11.64 427.79</u></div>
<div><u>Bruce 2.75 12.02 441.482.35 11.64 427.79</u></div>
<div><u>Putnam 2.90 12.17 446.992.60 11.89 436.97</u></div>
<div><u>Burford 2.68 11.95 438.902.33 11.62 427.05</u></div>
<div><u>Port Perry 2.61 11.88 436.332.26 11.55 424.48</u></div>
<div><u>Norfolk 2.68 11.95 438.902.35 11.64 427.79</u></div>
<div><u>Palmerston 2.70 11.97 439.642.35 11.64 427.79</u></div>
<div><u>Varna 2.70 11.97 439.642.40 11.69 429.63</u></div>
<div><u>Trenton 2.70 11.97 439.642.45 11.74 431.46</u></div>
<div><u>Winchester 2.67 11.94 438.542.80 12.09 444.32</u></div>
<div><u>North Gower 2.46 11.73 430.822.56 11.85 435.50</u></div>
<div><u>Huron FOB 2.85 12.12 445.152.40 11.69 429.63</u></div>
<div><u>Kent FOB 2.78 12.05 442.582.30 11.59 425.95</u></div>
<div><u>Lambton FOB 2.70 11.97 439.642.50 11.79 433.30</u></div>
<div><u>Middlesex FOB2.78 2.78 N/A N/A 12.05 442.582.47 11.76 432.20</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Hamilton 3.18 3.18 3.10 N/A 12.45 457.282.88 12.17 447.26</u></div>
<div><u> N/A N/A N/A</u></div>
<div><u>TRANSFER</u></div>
<div><u>Prescott 2.71 11.98 440.012.83 12.12 445.43</u></div>
<div><u>Sarnia 2.42 11.69 429.352.69 11.98 440.28</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.31 8.96 329.07-0.56 8.73 320.69</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.3445 down 0.0027</u></div>
<div><u>Chicago wheat closed moderately higher.</u></div>
<div><u>JUL17 HI 4.39 JUL17 HI 4.39</u></div>
<div><u> LOW 4.29 1/4 LOW 4.29 1/4</u></div>
<div><u> CLOSE 4.38 1/4 Up 7 1/2 CLOSE 4.38 1/4 Up 7 1/2</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly to moderately higher.</u></div>
<div><u>JUL17 HI 5.70 SEP17 HI 5.75</u></div>
<div><u> LOW 5.61 LOW 5.67</u></div>
<div><u> CLOSE 5.68 3/4 Up 6 1/2 CLOSE 5.73 1/4 Up 5 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 0.28</u></div>
<div><u>CAD $/bu 4.95 4.95 4.95 5.97</u></div>
<div><u>CAD $/tonne 181.93 181.93 181.93 219.23</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 0.81 0.75 0.75 N/A 1.02 0.88 0.84 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 0.75 0.75 0.45 1.05 0.90 0.90 0.65</u></div>
<div><u>Essex N/A N/A 0.54 N/A N/A N/A 0.62 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 1.00 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 0.75 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 1.15 0.85 0.85 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 0.12 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 0.45 0.45 0.07 N/A 1.12 1.12 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 1.25 N/A 1.15 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 1.44N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 4.28US 5.76CA 4.28US 5.76CA</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 0.56</u></div>
<div><u>CAD $/bu 5.49 5.49 5.49 6.30</u></div>
<div><u>CAD $/tonne 201.69 201.69 201.69 231.33</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 451.73</u></div>
<div><u>DDG's FOB Srn & Aylm 175.00 - 180.00</u></div>
<div><br>
</div>
----
<p></p>
<p></p>
<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>
<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); text-decoration-line: none;">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:10.0pt;
line-height:115%;font-family:"Courier New";color:#333333;background:#FDFDFD">x
63577<span class="apple-converted-space"> </span></span><span style="font-size:10.0pt;line-height:115%;font-family:"Courier New";color:#333333"><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); text-decoration-line: none;">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;
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