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<p><u></u></p>
<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, August 10</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.2714 up 0.0020</u></div>
<div><u>Chicago corn closed lower.</u></div>
<div><u><br>
</u></div>
<div><u> SEP17 HI 3.75 1/2 DEC17 HI 3.89</u></div>
<div><u> LOW 3.56 1/2 LOW 3.70 1/4</u></div>
<div><u> CLOSE3.57 1/4 Down 15 CLOSE 3.71 Down 15 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 +DEC17+DEC17+DEC17</u></div>
<div><u>CK Low 0.60 4.17 164.26 0.65 4.36 171.65</u></div>
<div><u>CK High 0.60 4.17 164.26 0.65 4.36 171.65</u></div>
<div><u>CK Avg 0.60 -0.29 4.17 164.26 0.65 -0.28 4.36 171.65</u></div>
<div><u>Essex Cty 0.60 4.17 164.26 0.65 4.36 171.65</u></div>
<div><u>Mdsx Low 0.60 4.17 164.26 0.65 4.36 171.65</u></div>
<div><u>Mdsx High 0.60 4.17 164.26 0.65 4.36 171.65</u></div>
<div><u>Mdsx Avg 0.60 -0.29 4.17 164.26 0.65 -0.28 4.36 171.65</u></div>
<div><u>Hensall 0.60 4.17 164.26 0.65 4.36 171.65</u></div>
<div><u>Bruce 0.60 4.17 164.26 0.65 4.36 171.65</u></div>
<div><u>Putnam 0.55 4.12 162.30 0.60 4.31 169.68</u></div>
<div><u>Burford 0.65 4.22 166.23 0.75 4.46 175.58</u></div>
<div><u>Port Perry 0.80 4.37 172.14 0.70 4.41 173.61</u></div>
<div><u>Norfolk 0.70 4.27 168.20 0.75 4.46 175.58</u></div>
<div><u>Palmerston 0.60 4.17 164.26 0.65 4.36 171.65</u></div>
<div><u>Varna 0.60 4.17 164.26 0.65 4.36 171.65</u></div>
<div><u>Trenton 1.00 4.57 180.01 0.85 4.56 179.52</u></div>
<div><u>Winchester 1.02 4.59 180.80 1.09 4.80 188.97</u></div>
<div><u>North Gower 0.97 4.54 178.83 0.95 4.66 183.46</u></div>
<div><u>Huron FOB 0.90 4.47 176.07 0.75 4.46 175.58</u></div>
<div><u>Kent FOB 0.80 4.37 172.14 0.70 4.41 173.61</u></div>
<div><u>Lamb FOB 0.80 4.37 172.14 0.65 4.36 171.65</u></div>
<div><u>Mdsx FOB 0.75 0.75N/A N/A 4.32 170.17 0.75 4.46 175.58</u></div>
<div><u>FOB SW Que 1.49 5.06 199.30N/A</u></div>
<div><u>Track 1.05 4.62 181.98N/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 0.95N/A 0.80 0.80 4.51 177.55</u></div>
<div><u>Sarn-Eth 1.00 0.95N/A 0.85 4.57 180.01 0.85 4.56 179.52</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 1.25 1.05 1.05 4.76 187.39</u></div>
<div><u>Pt.Colb-Ing N/A N/A N/A 1.00 1.00 4.71 185.42</u></div>
<div><u>Cardnl-Ing N/A N/A 1.25 1.10 1.25 4.96 195.27</u></div>
<div><u>W O Feed 1.33 4.90 193.00</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.35 4.92 193.79</u></div>
<div><u>Toledo El. -0.11 3.46 136.14 -0.32 3.39 133.56</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Sarnia N/A 0.65 4.36171 2/3</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 0.65 4.36</u></div>
<div><u>HI SD CRN 0.65 4.36</u></div>
<div><u>*Wet Bid</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2714 up 0.0020</u></div>
<div><u>Chicago soybeans closed lower.</u></div>
<div><u><br>
</u></div>
<div><u> NOV17 HI 9.88 1/2 NOV17 HI 9.88 1/2</u></div>
<div><u> LOW 9.38 1/2 LOW 9.38 1/2</u></div>
<div><u> CLOSE9.40 1/4 Down 33 CLOSE 9.40 1/4 Down 33</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 +NOV1+NOV1+NOV17</u></div>
<div><u>CK Low 1.95 11.35 417.131.74 11.14 409.42</u></div>
<div><u>CK High 2.05 11.45 420.811.90 11.30 415.30</u></div>
<div><u>CK Average 2.01 -0.4311.41 419.281.80 -0.5811.20 411.56</u></div>
<div><u>Essex Cty 2.00 11.40 418.971.70 11.10 407.95</u></div>
<div><u>Mdsx Low 2.00 11.40 418.971.80 11.20 411.62</u></div>
<div><u>Mdsx High 2.01 11.41 419.341.85 11.25 413.46</u></div>
<div><u>Mdsx Average 2.01 -0.4311.41 419.151.83 -0.5611.23 412.54</u></div>
<div><u>Hensall 2.00 11.40 418.791.85 11.25 413.46</u></div>
<div><u>Bruce 2.00 11.40 418.971.85 11.25 413.46</u></div>
<div><u>Putnam 2.00 11.40 418.971.85 11.25 413.46</u></div>
<div><u>Burford 2.08 11.48 421.911.87 11.27 414.19</u></div>
<div><u>Port Perry 2.01 11.41 419.341.80 11.20 411.62</u></div>
<div><u>Norfolk N/A 1.85 11.25 413.46</u></div>
<div><u>Palmerston 1.85 11.25 413.461.80 11.20 411.62</u></div>
<div><u>Varna 1.99 11.39 418.601.85 11.25 413.46</u></div>
<div><u>Trenton 2.00 11.40 418.971.80 11.20 411.62</u></div>
<div><u>Winchester 1.95 11.35 417.131.91 11.31 415.66</u></div>
<div><u>North Gower 1.84 11.24 413.091.94 11.34 416.77</u></div>
<div><u>Huron FOB 2.09 11.49 422.281.95 11.35 417.13</u></div>
<div><u>Kent FOB 2.15 11.55 424.481.80 11.20 411.62</u></div>
<div><u>Lambton FOB 2.20 11.60 426.321.95 11.35 417.13</u></div>
<div><u>Middlesex FOB2.25 2.18 N/A N/A 11.65 428.161.98 11.38 418.24</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Hamilton 2.70 2.52 2.40 2.45 12.10 444.692.40 11.80 433.67</u></div>
<div><u> N/A N/A N/A</u></div>
<div><u>TRANSFER</u></div>
<div><u>Prescott 2.00 11.40 418.972.31 11.71 430.36</u></div>
<div><u>Sarnia 2.27 11.67 428.892.17 11.57 425.22</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.33 9.07 333.34-0.65 8.76 321.69</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2714 up 0.0020</u></div>
<div><u>Chicago wheat closed lower.</u></div>
<div><u>SEP17 HI 4.62 JUL18 HI 5.33 1/4</u></div>
<div><u> LOW 4.39 1/4 LOW 5.13 1/2</u></div>
<div><u> CLOSE 4.40 1/2 Down 19 CLOSE 5.14 1/4 Down 16 1/2</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed lower to limit down.</u></div>
<div><u>SEP17 HI 7.41 3/4 SEP18 HI 6.50 3/4</u></div>
<div><u> LOW 7.02 1/2 LOW 6.29 3/4</u></div>
<div><u> CLOSE 7.03 1/4 Down 30 3/4 CLOSE 6.29 3/4 Down 15 1/4</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 0.00</u></div>
<div><u>CAD $/bu 5.22 5.22 5.16 7.03</u></div>
<div><u>CAD $/tonne 191.77 191.77 189.43 258.45</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 0.60 N/A</u></div>
<div><u>London 0.75 0.69 0.56 N/A 0.88 0.69 0.62 N/A</u></div>
<div><u>Hensall 0.70 N/A 0.60 N/A 0.90 N/A 0.60 N/A</u></div>
<div><u>Trenton N/A N/A 0.90 N/A N/A N/A 0.90 N/A</u></div>
<div><u>Bruce 0.75 0.65 0.60 0.25 0.85 0.65 0.60 0.35</u></div>
<div><u>Essex N/A N/A 0.52 N/A N/A N/A 0.74 N/A</u></div>
<div><u>Norwich 0.70 N/A 0.60 N/A 0.90 N/A 0.60 N/A</u></div>
<div><u>Port Hope N/A 0.75 0.75 N/A N/A 0.65 0.70 N/A</u></div>
<div><u>Kent Bridge 0.70 N/A 0.60 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 0.60 N/A</u></div>
<div><u>Brigden N/A N/A 0.60 N/A N/A N/A 0.60 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 0.85 0.65 0.60 N/A</u></div>
<div><u>Mitchell 0.70 0.60 0.60 N/A 0.90 0.65 0.60 N/A</u></div>
<div><u>Thornton N/A N/A N/A -0.48 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 0.86 0.79 0.07 N/A 1.05 1.05 0.34</u></div>
<div><u>W O Feed 1.13</u></div>
<div><u><br>
</u></div>
<div><u>TERMINAL</u></div>
<div><u>Sarnia N/A N/A 0.87 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 1.32N/A N/A N/A N/A N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 4.36US 5.54CA 4.94US 6.27CA</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 0.88 0.88 0.88 0.30</u></div>
<div><u>CAD $/bu 6.02 6.02 6.02 6.60</u></div>
<div><u>CAD $/tonne 221.22 221.22 221.22 242.45</u></div>
<div><u><br>
</u></div>
<div><u>(C)-Basis over the Chicago Board of Trade futures</u></div>
<div><u>(M)-Basis over the Minneapolis Grain Exchange</u></div>
<div><u><br>
</u></div>
<div><u>FEED GRAINS</u></div>
<div><u>FOB Hm Soymeal 435.20</u></div>
<div><u>DDG's FOB Srn & Aylm 155.00 - 160.00</u></div>
<div><u><br>
</u></div>
----
<p></p>
<p>Ontario Grain Market Commentary for August 9, 2017</p>
<p>By Marty Hibbs, Grain Farmers of Ontario</p>
<p><br>
</p>
<p></p>
<div>Wednesday, August 9 2017 Closing Prices </div>
<div>COMMODITY<span style="white-space:pre"> </span>PERIOD<span style="white-space:pre">
</span>PRICE<span style="white-space:pre"> </span>WEEKLY MOVEMENT</div>
<div>Corn CBOT<span style="white-space:pre"> </span>Sept<span style="white-space:pre">
</span>3.72<span style="white-space:pre"> </span>$B",(B<span style="white-space:pre"> </span>
07<span style="white-space:pre"> </span>cents</div>
<div>Soybeans CBOT<span style="white-space:pre"> </span>Nov<span style="white-space:pre">
</span>9.73<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre"> </span>
03<span style="white-space:pre"> </span>cents</div>
<div>Wheat CBOT<span style="white-space:pre"> </span>Sept <span style="white-space:pre">
</span>4.64<span style="white-space:pre"> </span>$B",(B<span style="white-space:pre"> </span>
04<span style="white-space:pre"> </span>cents</div>
<div>Wheat Minn.<span style="white-space:pre"> </span>Sept<span style="white-space:pre">
</span>7.34<span style="white-space:pre"> </span>$B",(B<span style="white-space:pre"> </span>
11<span style="white-space:pre"> </span>cents</div>
<div>Wheat Kansas<span style="white-space:pre"> </span>Sept<span style="white-space:pre">
</span>4.64<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre"> </span>
01<span style="white-space:pre"> </span>cents</div>
<div>Chicago Oats<span style="white-space:pre"> </span>Sept<span style="white-space:pre">
</span>2.70<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre"> </span>
18<span style="white-space:pre"> </span>cents </div>
<div><span style="white-space:pre"></span></div>
<div>Canadian $<span style="white-space:pre"> </span>Sept<span style="white-space:pre">
</span>.7881<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre">
</span>.85<span style="white-space:pre"> </span>points</div>
<div><br>
</div>
<div>Corn: As expected, we traded to $3.60 and support has held so far. A break below the $3.50 level on the September chart on a close would suggest lower prices coming into the end of summer. For now, not much has changed. The trading range is $3.50 - $4
on the lead month contract. The primary down-trend line sits at the $4 level on the lead month contract. </div>
<div>Initial support on the September futures is seen at $3.50 - $3.60, while overhead resistance is still at $4, also on the September contract. </div>
<div>Short term indicators are neutral and the primary trend is still down.</div>
<div><br>
</div>
<div>Soybeans: We pulled back to the support level as projected last month of $9.50 - $9.60 on the new crop soybeans for November. This week we received another red sell signal on the daily chart which nullifies the buy signal from July 3. This does not mean
that we will continue lower immediately, it does suggest that any rally here could be short lived. Soybeans were never really close to a trend change as we saw in the wheat and the overhead trend-line was firm and pushed prices lower after they failed to negate
the $10.25 - $10.50 trend line on the weekly charts. </div>
<div>Initial support is at the $9.55 level while a potential rally could see the $10 level tested once again in the coming weeks. </div>
<div>Short term indicators are now neutral and the primary trend is still down.</div>
<div><br>
</div>
<div>Wheat: The first week of July saw Chicago wheat rally from the $4.70 level to a high of $5.70 and all the way back to the $4.70 level of today. Although this looks very bearish, it has changed the positions of the contract holders. This shakeup has set
the stage for a bottom action that should play out over the next year. The move shows a long term trend-line has been broken and from here we will see a test of the new uptrend line that currently sits around the $4.20 level on the lead month Chicago contract.
Short term indicators are negative; our long term trend is not down but is in more of a neutral pattern. For the short term, it looks as though we are out of gas and any rallies should be viewed as a place to lock in pricing on your 2017 crop.</div>
<div><br>
</div>
<div>
<div style="font-family: "Courier New", monospace, EmojiFont, "Apple Color Emoji", "Segoe UI Emoji", NotoColorEmoji, "Segoe UI Symbol", "Android Emoji", EmojiSymbols; font-size: 13.3333px;">
Harvest 2017 prices as of the close, August 9 are as follows:</div>
<div style="font-family: "Courier New", monospace, EmojiFont, "Apple Color Emoji", "Segoe UI Emoji", NotoColorEmoji, "Segoe UI Symbol", "Android Emoji", EmojiSymbols; font-size: 13.3333px;">
SWW @ $200.27/MT ($5.45/bu), HRW @ $200.27/MT ($5.45/bu), </div>
<div style="font-family: "Courier New", monospace, EmojiFont, "Apple Color Emoji", "Segoe UI Emoji", NotoColorEmoji, "Segoe UI Symbol", "Android Emoji", EmojiSymbols; font-size: 13.3333px;">
HRS @ $272.31/MT ($7.41/bu), SRW @ $197.93/MT ($5.39/bu), </div>
</div>
<div><br>
</div>
<div>----</div>
<div><br>
</div>
<div>
<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>
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background:#FDFDFD"> </span></span><span style="font-size:10.0pt;
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