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<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Fri, July 21</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.2523 down 0.0041</u></div>
<div><u>Chicago corn closed lower.</u></div>
<div><u><br>
</u></div>
<div><u> SEP17 HI 3.91 DEC17 HI 4.04 3/4</u></div>
<div><u> LOW 3.78 1/2 LOW 3.92 1/2</u></div>
<div><u> CLOSE3.79 3/4 Down 11 1/4 CLOSE 3.93 1/2 Down 11 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 +SEP17+DEC17+DEC17</u></div>
<div><u>CK Low 0.60 4.40 173.12 0.70 4.64 182.47</u></div>
<div><u>CK High 0.65 4.45 175.09 0.75 4.69 184.44</u></div>
<div><u>CK Avg 0.61 -0.28 4.41 173.45 0.71 -0.22 4.64 182.80</u></div>
<div><u>Essex Cty 0.60 4.40 173.12 0.70 4.64 182.47</u></div>
<div><u>Mdsx Low 0.60 4.40 173.12 0.70 4.64 182.47</u></div>
<div><u>Mdsx High 0.60 4.40 173.12 0.70 4.64 182.47</u></div>
<div><u>Mdsx Avg 0.60 -0.29 4.40 173.12 0.70 -0.23 4.64 182.47</u></div>
<div><u>Hensall 0.60 4.40 173.12 0.70 4.64 182.47</u></div>
<div><u>Bruce 0.60 4.40 173.12 0.70 4.64 182.47</u></div>
<div><u>Putnam 0.60 4.40 173.12 0.70 4.64 182.47</u></div>
<div><u>Burford 0.60 4.40 173.12 0.75 4.69 184.44</u></div>
<div><u>Port Perry 0.85 4.65 182.96 0.80 4.74 186.41</u></div>
<div><u>Norfolk 0.70 4.50 177.06 0.80 4.74 186.41</u></div>
<div><u>Palmerston 0.60 4.40 173.12 0.70 4.64 182.47</u></div>
<div><u>Varna 0.60 4.40 173.12 0.70 4.64 182.47</u></div>
<div><u>Trenton 1.00 4.80 188.87 0.80 4.74 186.41</u></div>
<div><u>Winchester 1.08 4.88 192.02 1.10 5.04 198.22</u></div>
<div><u>North Gower 1.01 4.81 189.26 1.00 4.94 194.28</u></div>
<div><u>Huron FOB 0.82 4.62 181.78 0.75 4.69 184.44</u></div>
<div><u>Kent FOB 0.75 4.55 179.03 0.70 4.64 182.47</u></div>
<div><u>Lamb FOB 0.80 4.60 181.00 0.70 4.64 182.47</u></div>
<div><u>Mdsx FOB 0.70 0.70N/A N/A 4.50 177.06 0.75 4.69 184.44</u></div>
<div><u>FOB SW Que 1.42 5.22 205.40N/A</u></div>
<div><u>Track 1.03 4.82 189.85N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A N/A N/A N/A</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 0.95N/A 0.80 4.74 186.41</u></div>
<div><u>Sarn-Eth 0.95 1.00 0.95N/A 4.75 186.90N/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 1.30 1.10 5.04 198.22</u></div>
<div><u>Pt.Colb-Ing N/A N/A N/A N/A 1.05 4.99 196.25</u></div>
<div><u>Cardnl-Ing N/A N/A N/A 1.30 1.15 5.09 200.19</u></div>
<div><u>W O Feed 1.23 5.03 197.92</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.24 5.04 198.32</u></div>
<div><u>Toledo El. -0.10 3.70 145.56 -0.31 3.62 142.61</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Sarnia N/A 0.80 4.74186 2/5</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 0.72 1/2 4.66</u></div>
<div><u>HI SD CRN 0.75 4.68 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 1.2523 down 0.0041</u></div>
<div><u>Chicago soybeans closed mixed.</u></div>
<div><u><br>
</u></div>
<div><u> AUG17 HI 10.13 1/4 NOV17 HI 10.27 1/4</u></div>
<div><u> LOW 10.01 3/4 LOW 10.15 1/4</u></div>
<div><u> CLOSE10.09 Down 4 1/4 CLOSE 10.22 1/4 Down 4 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 +AUG1+NOV1+NOV17</u></div>
<div><u>CK Low 2.00 12.09 444.231.75 11.97 439.91</u></div>
<div><u>CK High 2.10 12.19 447.911.90 12.12 445.43</u></div>
<div><u>CK Average 2.05 -0.3912.14 446.131.81 -0.6012.03 442.12</u></div>
<div><u>Essex Cty 2.00 12.09 444.231.70 11.92 438.08</u></div>
<div><u>Mdsx Low 2.01 12.10 444.601.78 12.00 441.02</u></div>
<div><u>Mdsx High 2.10 12.19 447.911.90 12.12 445.43</u></div>
<div><u>Mdsx Average 2.06 -0.3912.15 446.251.84 -0.5712.06 443.22</u></div>
<div><u>Hensall 2.10 12.19 447.911.90 12.12 445.43</u></div>
<div><u>Bruce 2.10 12.19 447.911.90 12.12 445.43</u></div>
<div><u>Putnam 2.10 12.19 447.911.90 12.12 445.43</u></div>
<div><u>Burford 2.08 12.17 447.171.85 12.07 443.59</u></div>
<div><u>Port Perry 2.01 12.10 444.601.78 12.00 441.02</u></div>
<div><u>Norfolk 2.05 12.14 446.071.83 12.05 442.85</u></div>
<div><u>Palmerston 2.05 12.14 446.071.75 11.97 439.91</u></div>
<div><u>Varna 2.10 12.19 447.911.90 12.12 445.43</u></div>
<div><u>Trenton 1.95 12.04 442.391.80 12.02 441.75</u></div>
<div><u>Winchester 2.00 12.09 444.232.15 12.37 454.61</u></div>
<div><u>North Gower 1.86 11.95 439.092.00 12.22 449.10</u></div>
<div><u>Huron FOB 2.20 12.29 451.582.00 12.22 449.10</u></div>
<div><u>Kent FOB 2.15 12.24 449.741.78 12.00 441.02</u></div>
<div><u>Lambton FOB 2.30 12.39 455.252.00 12.22 449.10</u></div>
<div><u>Middlesex FOB2.12 2.31 N/A N/A 12.21 448.641.95 12.17 447.26</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Hamilton 2.45 2.57 2.48 2.35 12.54 460.772.35 12.57 461.96</u></div>
<div><u> N/A N/A N/A</u></div>
<div><u>TRANSFER</u></div>
<div><u>Prescott 2.06 12.15 446.442.28 12.50 459.39</u></div>
<div><u>Sarnia N/A 2.15 12.37 454.61</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.18 9.91 364.30-0.64 9.59 352.19</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2523 down 0.0041</u></div>
<div><u>Chicago wheat closed moderately lower.</u></div>
<div><u>SEP17 HI 5.10 1/4 JUL18 HI 5.68 1/4</u></div>
<div><u> LOW 4.97 1/2 LOW 5.56</u></div>
<div><u> CLOSE 4.99 1/4 Down 6 1/2 CLOSE 5.58 Down 6 1/4</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly lower to lower.</u></div>
<div><u>SEP17 HI 7.79 3/4 SEP18 HI 6.74 1/4</u></div>
<div><u> LOW 7.62 1/2 LOW 6.64</u></div>
<div><u> CLOSE 7.65 3/4 Down 12 1/4 CLOSE 6.66 3/4 Down 4 1/2</u></div>
<div><u><br>
</u></div>
<div><u>GFO Cash 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 0.88 0.88 0.86 0.05</u></div>
<div><u>CAD $/bu 5.88 5.88 5.85 7.71</u></div>
<div><u>CAD $/tonne 215.93 215.93 215.01 283.34</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Direct MarkHarvest 2017 Harvest 2018</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 0.60 N/A N/A N/A 0.65 N/A</u></div>
<div><u>London 0.78 0.65 0.56 N/A 0.73 0.61 0.61 N/A</u></div>
<div><u>Hensall 0.80 N/A 0.60 N/A 0.95 N/A 0.65 N/A</u></div>
<div><u>Trenton N/A N/A 0.85 N/A N/A N/A 0.80 N/A</u></div>
<div><u>Bruce 0.80 0.70 0.60 0.25 0.95 0.75 0.65 0.35</u></div>
<div><u>Essex N/A N/A 0.60 N/A N/A N/A 0.66 N/A</u></div>
<div><u>Norwich 0.80 N/A 0.60 N/A 0.95 N/A 0.70 N/A</u></div>
<div><u>Port Hope N/A 0.80 0.70 N/A N/A 0.70 0.75 N/A</u></div>
<div><u>Kent Bridge 0.80 N/A 0.60 N/A 0.95 N/A 0.65 N/A</u></div>
<div><u>Chatham N/A N/A 0.60 N/A N/A N/A 0.65 N/A</u></div>
<div><u>Brigden N/A N/A 0.60 N/A N/A N/A 0.65 N/A</u></div>
<div><u>Palmerston N/A 0.70 0.60 0.25 N/A 0.75 0.65 0.35</u></div>
<div><u>Varna 0.90 0.70 0.60 N/A 0.95 0.75 0.70 N/A</u></div>
<div><u>Mitchell 0.80 0.60 0.60 N/A 0.95 0.70 0.65 N/A</u></div>
<div><u>Thornton N/A N/A N/A -0.45 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 0.81 0.79 0.01 N/A 0.80 0.81 0.24</u></div>
<div><u>W O Feed 1.35</u></div>
<div><u><br>
</u></div>
<div><u>TERMINAL</u></div>
<div><u>Sarnia 1.08 N/A 0.99 N/A N/A N/A N/A 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 1.13N/A N/A N/A N/A N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 4.84US 6.06CA 5.38US 6.72CA</u></div>
<div><u><br>
</u></div>
<div><u>GFO Contract Wheat Prices - DEL Terminal</u></div>
<div><u>Harvest 18 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)</u></div>
<div><u>Basis 0.83 0.77 0.77 0.29</u></div>
<div><u>CAD $/bu 6.41 6.35 6.35 6.96</u></div>
<div><u>CAD $/tonne 235.62 233.32 233.32 255.71</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 467.06</u></div>
<div><u>DDG's FOB Srn & Aylm 165.00</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><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: rgb(253, 253, 253);">Editor, AgriLink and Farm Market News<span class="apple-converted-space"> </span></span><br>
<span style="background: rgb(253, 253, 253);">University of Guelph, Ridgetown Campus<span class="apple-converted-space"> </span></span><br>
<span style="background: rgb(253, 253, 253);">Tel.<span class="apple-converted-space"> </span></span></span><span style="font-size: 11pt; line-height: 115%; font-family: Calibri, sans-serif;"><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><span class="apple-converted-space"><span style="font-size:10.0pt;line-height:115%;
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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>
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