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<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Tue, July 25</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.2505 up 0.0003</u></div>
<div><u>Chicago corn closed lower.</u></div>
<div><u><br>
</u></div>
<div><u> SEP17 HI 3.83 3/4 DEC17 HI 3.97 1/2</u></div>
<div><u> LOW 3.68 1/2 LOW 3.82</u></div>
<div><u> CLOSE3.68 3/4 Down 8 1/2 CLOSE 3.82 1/4 Down 8 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 +SEP17+DEC17+DEC17</u></div>
<div><u>CK Low 0.60 4.29 168.79 0.65 4.47 176.07</u></div>
<div><u>CK High 0.60 4.29 168.79 0.70 4.52 178.04</u></div>
<div><u>CK Avg 0.60 -0.26 4.29 168.79 0.67 -0.22 4.49 176.73</u></div>
<div><u>Essex Cty 0.60 4.29 168.79 0.65 4.47 176.07</u></div>
<div><u>Mdsx Low 0.60 4.29 168.79 0.65 4.47 176.07</u></div>
<div><u>Mdsx High 0.60 4.29 168.79 0.70 4.52 178.04</u></div>
<div><u>Mdsx Avg 0.60 -0.26 4.29 168.79 0.68 -0.21 4.50 177.06</u></div>
<div><u>Hensall 0.60 4.29 168.79 0.70 4.52 178.04</u></div>
<div><u>Bruce 0.60 4.29 168.79 0.70 4.52 178.04</u></div>
<div><u>Putnam 0.60 4.29 168.79 0.70 4.52 178.04</u></div>
<div><u>Burford 0.60 4.29 168.79 0.70 4.52 178.04</u></div>
<div><u>Port Perry 0.85 4.54 178.63 0.75 4.57 180.01</u></div>
<div><u>Norfolk 0.70 4.39 172.73 0.75 4.57 180.01</u></div>
<div><u>Palmerston 0.60 4.29 168.79 0.70 4.52 178.04</u></div>
<div><u>Varna 0.60 4.29 168.79 0.70 4.52 178.04</u></div>
<div><u>Trenton 0.95 4.64 182.57 0.80 4.62 181.98</u></div>
<div><u>Winchester 1.00 4.69 184.54 1.00 4.82 189.85</u></div>
<div><u>North Gower 1.00 4.69 184.54 0.97 4.79 188.67</u></div>
<div><u>Huron FOB 0.82 4.51 177.45 0.75 4.57 180.01</u></div>
<div><u>Kent FOB 0.75 4.44 174.70 0.65 4.47 176.07</u></div>
<div><u>Lamb FOB 0.75 4.44 174.70 0.70 4.52 178.04</u></div>
<div><u>Mdsx FOB 0.75 0.75N/A N/A 4.44 174.70 0.75 4.57 180.01</u></div>
<div><u>FOB SW Que 1.45 5.14 202.25N/A</u></div>
<div><u>Track 1.03 4.71 185.52N/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 4.62 181.98</u></div>
<div><u>Sarn-Eth 0.95 1.00 0.95N/A 4.64 182.57N/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 1.20 1.00 4.82 189.85</u></div>
<div><u>Pt.Colb-Ing N/A N/A N/A N/A 0.95 4.77 187.89</u></div>
<div><u>Cardnl-Ing N/A N/A N/A 1.20 1.20 5.02 197.73</u></div>
<div><u>W O Feed 1.23 4.92 193.67</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.30 4.99 196.35</u></div>
<div><u>Toledo El. -0.10 3.59 141.23 -0.31 3.51 138.23</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Sarnia N/A N/A</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 0.67 1/2 4.49 3/4</u></div>
<div><u>HI SD CRN 0.70 4.52 1/4</u></div>
<div><u>*Wet Bid</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2505 up 0.0003</u></div>
<div><u>Chicago soybeans closed moderately lower.</u></div>
<div><u><br>
</u></div>
<div><u> AUG17 HI 10.22 3/4 NOV17 HI 10.35 1/2</u></div>
<div><u> LOW 9.81 LOW 9.92</u></div>
<div><u> CLOSE9.81 1/2 Down 16 CLOSE 9.92 3/4 Down 17 1/4</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 1.80 11.62 426.781.65 11.58 425.40</u></div>
<div><u>CK High 2.00 11.82 434.131.75 11.68 429.07</u></div>
<div><u>CK Average 1.95 -0.4011.77 432.411.70 -0.5911.63 427.30</u></div>
<div><u>Essex Cty 2.00 11.82 434.131.70 11.63 427.24</u></div>
<div><u>Mdsx Low 1.95 11.77 432.291.71 11.64 427.60</u></div>
<div><u>Mdsx High 2.00 11.82 434.131.75 11.68 429.07</u></div>
<div><u>Mdsx Average 1.98 -0.3911.79 433.211.73 -0.5711.66 428.34</u></div>
<div><u>Hensall 2.00 11.82 434.131.78 11.70 429.99</u></div>
<div><u>Bruce 2.00 11.82 434.131.70 11.63 427.24</u></div>
<div><u>Putnam 2.00 11.82 434.131.75 11.68 429.07</u></div>
<div><u>Burford 2.02 11.84 434.861.78 11.71 430.18</u></div>
<div><u>Port Perry 1.95 11.77 432.291.71 11.64 427.60</u></div>
<div><u>Norfolk 1.97 11.79 433.021.75 11.68 429.07</u></div>
<div><u>Palmerston 2.05 11.87 435.961.70 11.63 427.24</u></div>
<div><u>Varna 2.00 11.82 434.131.80 11.73 430.91</u></div>
<div><u>Trenton 1.95 11.77 432.291.75 11.68 429.07</u></div>
<div><u>Winchester 1.80 11.62 426.781.90 11.83 434.59</u></div>
<div><u>North Gower 1.73 11.55 424.212.00 11.93 438.26</u></div>
<div><u>Huron FOB 2.10 11.92 437.801.90 11.83 434.59</u></div>
<div><u>Kent FOB 2.07 11.89 436.701.70 11.63 427.24</u></div>
<div><u>Lambton FOB 2.20 12.02 441.481.85 11.78 432.75</u></div>
<div><u>Middlesex FOB2.06 2.24 N/A N/A 11.88 436.331.88 11.81 433.85</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Hamilton 2.50 2.50 2.40 2.27 12.32 452.502.27 12.20 448.18</u></div>
<div><u> N/A N/A N/A</u></div>
<div><u>TRANSFER</u></div>
<div><u>Prescott 1.98 11.80 433.392.19 12.12 445.24</u></div>
<div><u>Sarnia N/A N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.18 9.64 354.21-0.64 9.29 341.43</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2505 up 0.0003</u></div>
<div><u>Chicago wheat closed moderately lower to lower.</u></div>
<div><u>SEP17 HI 4.95 1/4 JUL18 HI 5.58 1/2</u></div>
<div><u> LOW 4.73 1/4 LOW 5.40 1/2</u></div>
<div><u> CLOSE 4.74 Down 14 3/4 CLOSE 5.41 Down 11 1/2</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed lower to sharply lower.</u></div>
<div><u>SEP17 HI 7.64 SEP18 HI 6.71</u></div>
<div><u> LOW 7.14 1/2 LOW 6.49</u></div>
<div><u> CLOSE 7.17 1/2 Down 33 CLOSE 6.49 Down 20 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 0.81 0.81 0.75 -0.08</u></div>
<div><u>CAD $/bu 5.55 5.55 5.49 7.10</u></div>
<div><u>CAD $/tonne 204.00 204.00 201.71 260.75</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 0.69 0.56 0.56 N/A 0.65 0.53 0.53 N/A</u></div>
<div><u>Hensall 0.75 N/A 0.55 N/A 0.90 N/A 0.60 N/A</u></div>
<div><u>Trenton N/A N/A 0.85 N/A N/A N/A 0.75 N/A</u></div>
<div><u>Bruce 0.75 0.60 0.55 0.25 0.90 0.65 0.60 0.35</u></div>
<div><u>Essex N/A N/A 0.54 N/A N/A N/A 0.58 N/A</u></div>
<div><u>Norwich 0.75 N/A 0.55 N/A 0.90 N/A 0.60 N/A</u></div>
<div><u>Port Hope N/A 0.75 0.70 N/A N/A 0.70 0.70 N/A</u></div>
<div><u>Kent Bridge 0.75 N/A 0.55 N/A 0.90 N/A 0.60 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 0.60 0.55 0.25 N/A 0.65 0.60 0.35</u></div>
<div><u>Varna 0.90 0.65 0.60 N/A 0.90 0.70 0.65 N/A</u></div>
<div><u>Mitchell 0.75 0.60 0.55 N/A 0.90 0.70 0.60 N/A</u></div>
<div><u>Thornton N/A N/A N/A -0.32 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 0.75 0.69 -0.10 N/A 0.77 0.77 0.19</u></div>
<div><u>W O Feed 1.31</u></div>
<div><u><br>
</u></div>
<div><u>TERMINAL</u></div>
<div><u>Sarnia N/A N/A N/A 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 1.19N/A N/A N/A N/A N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 4.64US 5.80CA 5.21US 6.49CA</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 0.77 0.71 0.71 0.22</u></div>
<div><u>CAD $/bu 6.18 6.12 6.12 6.71</u></div>
<div><u>CAD $/tonne 227.02 224.73 224.73 246.70</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 454.49</u></div>
<div><u>DDG's FOB Srn & Aylm 165.00</u></div>
<div><br>
</div>
<span id="ms-rterangepaste-start"></span>
<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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<span style="background:#FDFDFD">Click on this link:<span class="apple-converted-space"> </span></span></span><span class="object"><span style="font-size:10.0pt;line-height:115%;font-family:"Courier New";color:#336699">farmmarketnews-unsubscribe@list.gfo.ca</span></span><span class="apple-converted-space"><span style="font-size:10.0pt;line-height:115%;
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