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<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, August 31</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.2496 down 0.0124</u></div>
<div><u>Chicago corn closed higher.</u></div>
<div><u><br>
</u></div>
<div><u> DEC17 HI 3.58 1/2 DEC17 HI 3.58 1/2</u></div>
<div><u> LOW 3.44 1/4 LOW 3.44 1/4</u></div>
<div><u> CLOSE3.57 3/4 Up 12 1/4 CLOSE 3.57 3/4 Up 12 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 0.65 4.23 166.43 0.65 4.23 166.43</u></div>
<div><u>CK High 0.70 4.28 168.40 0.75 4.33 170.37</u></div>
<div><u>CK Avg 0.68 -0.17 4.26 167.74 0.68 -0.17 4.25 167.41</u></div>
<div><u>Essex Cty 0.65 4.23 166.43 0.75 4.33 170.37</u></div>
<div><u>Mdsx Low 0.70 4.28 168.40 0.65 4.23 166.43</u></div>
<div><u>Mdsx High 0.70 4.28 168.40 0.65 4.23 166.43</u></div>
<div><u>Mdsx Avg 0.70 -0.15 4.28 168.40 0.65 -0.19 4.23 166.43</u></div>
<div><u>Hensall 0.69 4.27 168.00 0.65 4.23 166.43</u></div>
<div><u>Bruce 0.70 4.28 168.40 0.65 4.23 166.43</u></div>
<div><u>Putnam N/A 0.65 4.23 166.43</u></div>
<div><u>Burford 0.80 4.38 172.33 0.75 4.33 170.37</u></div>
<div><u>Port Perry 0.90 4.48 176.27 0.80 4.38 172.33</u></div>
<div><u>Norfolk 0.75 4.33 170.37 0.75 4.33 170.37</u></div>
<div><u>Palmerston 0.65 4.23 166.43 0.75 4.33 170.37</u></div>
<div><u>Varna 0.70 4.28 168.40 0.65 4.23 166.43</u></div>
<div><u>Trenton 0.95 4.53 178.24 0.75 4.33 170.37</u></div>
<div><u>Winchester N/A 1.10 4.68 184.15</u></div>
<div><u>North Gower 0.95 4.53 178.24 1.02 4.60 181.00</u></div>
<div><u>Huron FOB 1.12 4.70 184.93 0.75 4.33 170.37</u></div>
<div><u>Kent FOB 0.90 4.48 176.27 0.70 4.28 168.40</u></div>
<div><u>Lamb FOB 1.00 4.58 180.21 0.65 4.23 166.43</u></div>
<div><u>Mdsx FOB 0.70 0.70N/A N/A 4.28 168.40 0.70 4.28 168.40</u></div>
<div><u>FOB SW Que 1.58 5.16 203.04N/A</u></div>
<div><u>Track 1.20 4.78 188.08N/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 1.15N/A 0.80 0.80 4.38 172.33</u></div>
<div><u>Sarn-Eth 0.90 0.90N/A 0.95 4.48 176.27 0.95 4.53 178.24</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 0.90 1.00 4.58 180.21</u></div>
<div><u>Pt.Colb-Ing N/A N/A N/A 1.05 1.05 4.63 182.18</u></div>
<div><u>Cardnl-Ing N/A N/A 1.45 1.05 1.05 4.63 182.18</u></div>
<div><u>W O Feed 1.45 5.03 198.08</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.35 4.93 193.99</u></div>
<div><u>Toledo El. -0.29 3.29 129.53 -0.27 3.30 130.02</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 0.70 4.27 3/4</u></div>
<div><u>HI SD CRN 0.75 4.32 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 1.2496 down 0.0124</u></div>
<div><u>Chicago soybeans closed moderately higher.</u></div>
<div><u><br>
</u></div>
<div><u> NOV17 HI 9.48 3/4 NOV17 HI 9.48 3/4</u></div>
<div><u> LOW 9.32 1/4 LOW 9.32 1/4</u></div>
<div><u> CLOSE9.45 1/4 Up 12 CLOSE 9.45 1/4 Up 12</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 1.90 11.35 417.131.55 11.00 404.27</u></div>
<div><u>CK High 2.00 11.45 420.811.65 11.10 407.95</u></div>
<div><u>CK Average 1.95 -0.3311.40 419.031.60 -0.6111.05 405.99</u></div>
<div><u>Essex Cty 1.95 11.40 418.971.55 11.00 404.27</u></div>
<div><u>Mdsx Low 1.97 11.42 419.711.64 11.09 407.58</u></div>
<div><u>Mdsx High 2.00 11.45 420.811.65 11.10 407.95</u></div>
<div><u>Mdsx Average 1.99 -0.3011.44 420.261.65 -0.5711.10 407.76</u></div>
<div><u>Hensall 1.98 11.43 419.891.68 11.13 408.87</u></div>
<div><u>Bruce 2.00 11.45 420.811.65 11.10 407.95</u></div>
<div><u>Putnam 1.96 11.41 419.341.80 11.25 413.46</u></div>
<div><u>Burford 2.01 11.46 421.171.68 11.13 409.05</u></div>
<div><u>Port Perry 1.97 11.42 419.711.64 11.09 407.58</u></div>
<div><u>Norfolk 1.95 11.40 418.971.65 11.10 407.95</u></div>
<div><u>Palmerston N/A 1.65 11.10 407.95</u></div>
<div><u>Varna 1.86 11.31 415.661.70 11.15 409.78</u></div>
<div><u>Trenton 1.80 11.25 413.461.70 11.15 409.78</u></div>
<div><u>Winchester 1.65 11.10 407.951.62 11.07 406.84</u></div>
<div><u>North Gower 1.80 11.25 413.461.90 11.35 417.13</u></div>
<div><u>Huron FOB 2.10 11.55 424.481.80 11.25 413.46</u></div>
<div><u>Kent FOB 2.00 11.45 420.811.60 11.05 406.11</u></div>
<div><u>Lambton FOB 2.10 11.55 424.481.75 11.20 411.62</u></div>
<div><u>Middlesex FOB2.14 2.14 N/A N/A 11.59 425.951.81 11.26 413.83</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Hamilton 2.48 2.29 2.16 2.22 11.93 438.442.16 11.61 426.69</u></div>
<div><u> N/A N/A N/A</u></div>
<div><u>TRANSFER</u></div>
<div><u>Prescott 1.81 11.26 413.832.06 11.51 423.01</u></div>
<div><u>Sarnia N/A N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.25 9.20 338.14-0.60 8.85 325.28</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2496 down 0.0124</u></div>
<div><u>Chicago wheat closed slightly higher.</u></div>
<div><u>DEC17 HI 4.37 3/4 JUL18 HI 4.84</u></div>
<div><u> LOW 4.28 1/2 LOW 4.77 1/2</u></div>
<div><u> CLOSE 4.34 1/2 Up 4 3/4 CLOSE 4.83 1/2 Up 5</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly lower to lower.</u></div>
<div><u>DEC17 HI 6.53 1/4 SEP18 HI 6.28</u></div>
<div><u> LOW 6.34 LOW 6.23 1/4</u></div>
<div><u> CLOSE 6.40 1/2 Down 15 1/4 CLOSE 6.26 Down 2 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 0.40 0.58 0.52 -0.08</u></div>
<div><u>CAD $/bu 4.74 4.93 4.87 6.33</u></div>
<div><u>CAD $/tonne 174.25 181.14 178.84 232.56</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 0.35 N/A N/A N/A 0.60 N/A</u></div>
<div><u>London 0.53 0.65 0.40 N/A 0.83 0.64 0.58 N/A</u></div>
<div><u>Hensall 0.40 N/A 0.35 N/A 0.85 N/A 0.60 N/A</u></div>
<div><u>Trenton N/A N/A 0.80 N/A N/A N/A 0.80 N/A</u></div>
<div><u>Bruce 0.50 0.45 0.35 0.05 0.85 0.65 0.60 0.35</u></div>
<div><u>Essex N/A N/A 0.43 N/A N/A N/A 0.66 N/A</u></div>
<div><u>Norwich 0.40 N/A 0.35 N/A 0.85 N/A 0.60 N/A</u></div>
<div><u>Port Hope N/A 0.75 0.60 N/A N/A 0.65 0.70 N/A</u></div>
<div><u>Kent Bridge 0.40 N/A 0.35 N/A 0.85 N/A 0.60 N/A</u></div>
<div><u>Chatham N/A N/A 0.35 N/A N/A N/A 0.60 N/A</u></div>
<div><u>Brigden N/A N/A 0.35 N/A N/A N/A 0.60 N/A</u></div>
<div><u>Palmerston N/A 0.41 0.35 0.03 N/A 0.65 0.60 0.35</u></div>
<div><u>Varna 0.65 0.45 0.35 N/A 0.85 0.65 0.60 N/A</u></div>
<div><u>Mitchell 0.40 0.40 0.35 N/A 0.85 0.65 0.60 N/A</u></div>
<div><u>Thornton N/A N/A N/A -0.02 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 0.62 0.56 0.03 N/A 0.88 0.88 0.24</u></div>
<div><u>W O Feed 1.09</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 1.08N/A N/A N/A N/A N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 4.15US 5.18CA 4.64US 5.79CA</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 0.71 0.71 0.71 0.19</u></div>
<div><u>CAD $/bu 5.54 5.54 5.54 6.45</u></div>
<div><u>CAD $/tonne 203.62 203.62 203.62 236.91</u></div>
<div><u><br>
</u></div>
<div><u>(C)-Basis over the Chicago Board of Trade futures</u></div>
<div><u>(M)-Basis over the Minneapolis Grain Exchange</u></div>
<div><u><br>
</u></div>
<div><u>FEED GRAINS</u></div>
<div><u>FOB Hm Soymeal 450.30</u></div>
<div><u>DDG's FOB Srn & Aylm 140.00 - 145.00</u></div>
<div><br>
</div>
<div>---</div>
<div><br>
</div>
<div>Ontario Grain Market Commentary for August 30, 2017</div>
<div>By Marty Hibbs, Grain Farmers of Ontario</div>
<div><br>
</div>
<div>
<div>Wednesday, August 30 2017 Closing Prices </div>
<div>COMMODITY<span style="white-space:pre"> </span>PERIOD<span style="white-space:pre">
</span>PRICE<span style="white-space:pre"> </span>WEEKLY MOVEMENT</div>
<div>Corn CBOT<span style="white-space:pre"> </span>Dec<span style="white-space:pre">
</span>3.45<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre"> </span>
10<span style="white-space:pre"> </span>cents</div>
<div>Soybeans CBOT<span style="white-space:pre"> </span>Nov<span style="white-space:pre">
</span>9.32<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre"> </span>
06<span style="white-space:pre"> </span>cents</div>
<div>Wheat CBOT<span style="white-space:pre"> </span>Dec <span style="white-space:pre">
</span>4.29<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre"> </span>
01<span style="white-space:pre"> </span>cents</div>
<div>Wheat Minn.<span style="white-space:pre"> </span>Dec<span style="white-space:pre">
</span>6.56<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre"> </span>
02<span style="white-space:pre"> </span>cents</div>
<div>Wheat Kansas<span style="white-space:pre"> </span>Dec<span style="white-space:pre">
</span>4.29<span style="white-space:pre"> </span>$B",(B<span style="white-space:pre"> </span>
03<span style="white-space:pre"> </span>cents</div>
<div>Chicago Oats<span style="white-space:pre"> </span>Dec<span style="white-space:pre">
</span>2.43<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre"> </span>
03<span style="white-space:pre"> </span>cents </div>
<div><span style="white-space:pre"></span></div>
<div>Canadian $<span style="white-space:pre"> </span>Dec<span style="white-space:pre">
</span>.7920<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre">
</span>.55<span style="white-space:pre"> </span>points</div>
<div><br>
</div>
<div>Corn: </div>
<div>We have seen almost a full dollar drop in the past two months on the Chicago price of corn as our red sell signal from three weeks ago continues to maul prices. We are heading towards the 2016 lows of $3 per bushel going into first notice day in Chicago. </div>
<div>We switched to the December futures as of August 30. The Chicago December contract closed at $3.45 per bushel on August 30. The charts are showing a slowdown of price decline, but with September 1 being the first notice day on the September contract we
could still see downward pressure as the long positions are required to liquidate. The weekly chart shows a low of $3 exactly one year ago this week. </div>
<div>This has the earmarks of a possible bottoming out pattern as we have seen a relentless drop in price going into harvest without even a bounce. This washout is will likely lead to a reversal once prices stabilize and start to recover. Meanwhile, there is
a chance that by next week we could actually see that 2016 $3 bottom tested on the September contract. </div>
<div>Initial support on the December futures is still seen here around the $3.25 level. The December contract is currently at $3.45 and will follow the September lower. Overhead first resistance on December is still at $3.75, short term indicators are negative,
and the primary trend is still down. Indicators are now showing oversold conditions.</div>
<div> </div>
<div>Soybeans: </div>
<div>Soybeans continue to have a quiet week with another small trading range. We are currently sitting at the $9.30 support level on the November contract; however, there is a very good chance we will test the $9 level in the coming weeks. With harvest upon
us, it will be interesting how prices will react once the harvest begins. Rains in Texas had little effect on prices. There is major support in the $8.50 - $9 level on these soybeans, and chances are that this will eventually be the bottom area once we break
into 2018. </div>
<div>Our red sell signal from August 3 is still intact, but we are in the oversold territory on our short term indicators. This would at least suggest a pop in prices in the fall. </div>
<div>Initial support is at $9 with overhead resistance at $9.75 - $10 on the November contract. </div>
<div>Short term indicators are negative and the primary trend is still down.</div>
<div><br>
</div>
<div>Wheat: </div>
<div>When I look at the chart for Chicago, I see nothing but red. This includes our red sell signal received back on July 26. It has been straight down since then. We had a very minor hook reversal on the charts from August 29, but it appears to be a long slow
grind up from these levels. With September 1 being first notice day on the futures, we could see more pressure on the September contract. Indicators are oversold but they can stay that way for a long time. The red sell signal that we received on the weekly
chart two weeks ago suggests a possible continued drop into the first week of September before we possibly shake out the long positions and find some reason to stabilize </div>
<div>Support sits at $3.60 on the long term chart based on the lead month Chicago contract. </div>
<div>All indicators are still negative and the primary trend is still down.</div>
<div><br>
</div>
<div><br>
</div>
<div>Harvest 2017 prices as of the close, August 30 are as follows:</div>
<div>SWW @ $173.81/MT ($4.73/bu), HRW @ $180.76/MT ($4.92/bu), </div>
<div> HRS @ $241.94/MT ($6.58/bu), SRW @ $178.44/MT ($4.86/bu.</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>
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