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<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, September 13</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.22 up 0.0026</u></div>
<div><u>Chicago corn closed steady.</u></div>
<div><u><br>
</u></div>
<div><u> DEC17 HI 3.56 3/4 DEC17 HI 3.56 3/4</u></div>
<div><u> LOW 3.50 1/4 LOW 3.50 1/4</u></div>
<div><u> CLOSE3.51 1/2 Unchanged CLOSE 3.51 1/2 Unchanged</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+MAR18</u></div>
<div><u>CK Low 0.70 4.22 165.94 0.60 4.12 162.00</u></div>
<div><u>CK High 0.75 4.27 167.91 0.75 4.27 167.91</u></div>
<div><u>CK Avg 0.71 -0.05 4.22 166.27 0.63 -0.12 4.15 163.31</u></div>
<div><u>Essex Cty 0.75 4.27 167.91 0.75 4.27 167.91</u></div>
<div><u>Mdsx Low 0.70 4.22 165.94 0.60 4.12 162.00</u></div>
<div><u>Mdsx High 0.70 4.22 165.94 0.60 4.12 162.00</u></div>
<div><u>Mdsx Avg 0.70 -0.06 4.22 165.94 0.60 -0.15 4.12 162.00</u></div>
<div><u>Hensall 0.69 4.21 165.54 0.63 4.14 162.98</u></div>
<div><u>Bruce 0.70 4.22 165.94 0.65 4.17 163.97</u></div>
<div><u>Putnam 0.70 4.22 165.94 0.60 4.12 162.00</u></div>
<div><u>Burford 0.80 4.32 169.87 0.70 4.22 165.94</u></div>
<div><u>Port Perry 0.90 4.42 173.81 0.75 4.27 167.91</u></div>
<div><u>Norfolk 0.80 4.32 169.87 0.70 4.22 165.94</u></div>
<div><u>Palmerston 0.75 4.27 167.91 0.75 4.27 167.91</u></div>
<div><u>Varna 0.70 4.22 165.94 0.65 4.17 163.97</u></div>
<div><u>Trenton 1.05 4.57 179.72 0.75 4.27 167.91</u></div>
<div><u>Winchester N/A 1.05 4.57 179.72</u></div>
<div><u>North Gower 1.05 4.57 179.72 1.03 4.55 178.93</u></div>
<div><u>Huron FOB 1.10 4.62 181.68 0.72 4.24 166.72</u></div>
<div><u>Kent FOB 0.95 4.47 175.78 0.65 4.17 163.97</u></div>
<div><u>Lamb FOB 0.90 4.42 173.81 0.70 4.22 165.94</u></div>
<div><u>Mdsx FOB 0.90N/A N/A N/A 4.42 173.81 0.70 4.22 165.94</u></div>
<div><u>FOB SW Que 1.65 5.17 203.34N/A</u></div>
<div><u>Track 1.30 4.82 189.56N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A N/A 0.80 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 0.80 0.80 0.80 4.32 169.87</u></div>
<div><u>Sarn-Eth 1.10N/A 0.90 0.95 4.62 181.68 0.90 4.42 173.81</u></div>
<div><u>Kawartha N/A N/A N/A N/A N/A</u></div>
<div><u>London-Ing N/A 1.10 0.80 0.80 0.90 4.42 173.81</u></div>
<div><u>Pt.Colb-Ing N/A 0.90 0.85N/A 0.90 4.42 173.81</u></div>
<div><u>Cardnl-Ing N/A 1.45 1.05 1.10 1.05 4.57 179.72</u></div>
<div><u>W O Feed 1.43 4.95 194.75</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.24 4.76 187.20</u></div>
<div><u>Toledo El. -0.26 3.26 128.29 -0.27 3.25 127.80</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 4.19</u></div>
<div><u>HI SD CRN 0.75 4.26 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 1.22 up 0.0026</u></div>
<div><u>Chicago soybeans closed slightly higher.</u></div>
<div><u><br>
</u></div>
<div><u> NOV17 HI 9.63 1/4 NOV17 HI 9.63 1/4</u></div>
<div><u> LOW 9.46 3/4 LOW 9.46 3/4</u></div>
<div><u> CLOSE9.60 1/2 Up 10 CLOSE 9.60 1/2 Up 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 +NOV1+NOV1+JAN18</u></div>
<div><u>CK Low 1.30 10.91 400.691.25 10.86 398.85</u></div>
<div><u>CK High 1.52 11.13 408.771.45 11.06 406.20</u></div>
<div><u>CK Average 1.41 -0.5711.02 404.791.32 -0.6610.93 401.43</u></div>
<div><u>Essex Cty 1.20 10.81 397.021.20 10.81 397.02</u></div>
<div><u>Mdsx Low 1.45 11.06 406.201.35 10.96 402.53</u></div>
<div><u>Mdsx High 1.58 11.19 410.981.38 10.99 403.63</u></div>
<div><u>Mdsx Average 1.52 -0.4911.12 408.591.37 -0.6210.97 403.08</u></div>
<div><u>Hensall 1.48 11.08 407.121.35 10.96 402.53</u></div>
<div><u>Bruce 1.50 11.11 408.041.35 10.96 402.53</u></div>
<div><u>Putnam 1.45 11.06 406.201.35 10.96 402.53</u></div>
<div><u>Burford 1.62 11.23 412.451.42 11.03 405.10</u></div>
<div><u>Port Perry 1.58 11.19 410.981.38 10.99 403.63</u></div>
<div><u>Norfolk 1.35 10.96 402.531.35 10.96 402.53</u></div>
<div><u>Palmerston 1.45 11.06 406.201.35 10.96 402.53</u></div>
<div><u>Varna 1.50 11.11 408.041.35 10.96 402.53</u></div>
<div><u>Trenton N/A 1.40 11.01 404.36</u></div>
<div><u>Winchester N/A 1.40 11.01 404.36</u></div>
<div><u>North Gower N/A 1.49 11.10 407.67</u></div>
<div><u>Huron FOB 1.60 11.21 411.711.45 11.06 406.20</u></div>
<div><u>Kent FOB N/A 1.30 10.91 400.69</u></div>
<div><u>Lambton FOB 1.55 11.16 409.881.45 11.06 406.20</u></div>
<div><u>Middlesex FOB1.75 1.55 1.55 1.63 11.36 417.221.55 11.16 409.88</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Hamilton 1.98 1.80 1.86 1.88 11.59 425.681.80 11.41 419.06</u></div>
<div><u> N/A N/A N/A</u></div>
<div><u>TRANSFER</u></div>
<div><u>Prescott 1.60 11.21 411.711.83 11.44 420.16</u></div>
<div><u>Sarnia N/A N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. N/A -0.59 9.02 331.38</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.22 up 0.0026</u></div>
<div><u>Chicago wheat closed narrowly mixed.</u></div>
<div><u>DEC17 HI 4.49 3/4 JUL18 HI 4.95</u></div>
<div><u> LOW 4.41 1/4 LOW 4.87 3/4</u></div>
<div><u> CLOSE 4.43 1/4 Up 1 1/4 CLOSE 4.88 3/4 Down 1/4</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly higher.</u></div>
<div><u>DEC17 HI 6.47 SEP18 HI 6.41 1/2</u></div>
<div><u> LOW 6.40 LOW 6.37 3/4</u></div>
<div><u> CLOSE 6.43 1/2 Up 1 3/4 CLOSE 6.40 3/4 Up 2 3/4</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 0.55 0.61 0.55 0.07</u></div>
<div><u>CAD $/bu 4.98 5.04 4.98 6.51</u></div>
<div><u>CAD $/tonne 183.00 185.24 183.00 239.15</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 0.40 0.52 0.40 N/A 0.86 0.62 0.55 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 0.60 N/A N/A N/A 0.65 N/A</u></div>
<div><u>Bruce 0.40 0.45 0.35 0.25 0.85 0.65 0.60 0.35</u></div>
<div><u>Essex N/A N/A N/A N/A N/A N/A 0.42 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 0.65 0.55 N/A N/A 0.65 0.65 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 0.55 N/A</u></div>
<div><u>Brigden N/A N/A 0.35 N/A N/A N/A 0.55 N/A</u></div>
<div><u>Palmerston N/A 0.45 0.35 0.25 N/A 0.65 0.45 0.35</u></div>
<div><u>Varna 0.65 0.45 0.35 N/A 0.80 0.60 0.55 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 -0.14 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 0.60 0.53 0.06 N/A 0.83 0.77 0.04</u></div>
<div><u>W O Feed 1.06</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 1.10N/A N/A N/A N/A N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 4.23US 5.16CA 4.69US 5.73CA</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 0.72 0.72 0.66 0.08</u></div>
<div><u>CAD $/bu 5.60 5.60 5.54 6.48</u></div>
<div><u>CAD $/tonne 205.91 205.91 203.67 238.23</u></div>
<div><u><br>
</u></div>
<div><u>(C)-Basis over the Chicago Board of Trade futures</u></div>
<div><u>(M)-Basis over the Minneapolis Grain Exchange</u></div>
<div><u><br>
</u></div>
<div><u>FEED GRAINS</u></div>
<div><u>FOB Hm Soymeal 453.17</u></div>
<div><u>DDG's FOB Srn & Aylm 140.00 - 145.00</u></div>
<div><u><br>
</u></div>
-----
<p></p>
<p>Ontario Grain Market Commentary for September 13, 2017</p>
<p>By Marty Hibbs, Grain Farmers of Ontario</p>
<p></p>
<div>Wednesday, September 13, 2017 Closing Prices </div>
<div>COMMODITY<span style="white-space:pre"> </span>PERIOD<span style="white-space:pre">
</span>PRICE<span style="white-space:pre"> </span>WEEKLY MOVEMENT</div>
<div>Corn CBOT<span style="white-space:pre"> </span>Dec<span style="white-space:pre">
</span>3.51<span style="white-space:pre"> </span>$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>9.60<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre"> </span>
11<span style="white-space:pre"> </span>cents</div>
<div>Wheat CBOT<span style="white-space:pre"> </span>Dec <span style="white-space:pre">
</span>4.43<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre"> </span>
03<span style="white-space:pre"> </span>cents</div>
<div>Wheat Minn.<span style="white-space:pre"> </span>Dec<span style="white-space:pre">
</span>6.43<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre"> </span>
01<span style="white-space:pre"> </span>cents</div>
<div>Wheat Kansas<span style="white-space:pre"> </span>Dec<span style="white-space:pre">
</span>4.44<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre"> </span>
05<span style="white-space:pre"> </span>cents</div>
<div>Chicago Oats<span style="white-space:pre"> </span>Dec<span style="white-space:pre">
</span>2.38<span style="white-space:pre"> </span>$B",(B<span style="white-space:pre"> </span>
05<span style="white-space:pre"> </span>cents </div>
<div><span style="white-space:pre"></span></div>
<div>Canadian $<span style="white-space:pre"> </span>Dec<span style="white-space:pre">
</span>.8196<span style="white-space:pre"> </span>$B",(B<span style="white-space:pre">
</span>0.15<span style="white-space:pre"> </span>points</div>
<div><br>
</div>
<div>Corn: </div>
<div>The USDA suggested that the corn yields were more than expected by the street. All this did was temporarily send corn back to the $3.45 support level that we keep speaking of on the December Chicago futures. The charts look as though they are finding good
support in this area, and they could be ready for a move higher over the short term. Our first resistance level is at the $3.70 level on December.</div>
<div>Short term indicators have turned positive, but weekly and monthly indicators are still negative, and the primary trend is still down. </div>
<div> </div>
<div>Soybeans: </div>
<div>Like the corn report, the soybean report was somewhat negative, with regard to the higher yields. U.S. dollar weakness has helped support prices in light of the bearishness of the recent news: our important $9.30 support level is still intact, and not
far below there is much more support at the $9 level based on the November futures.</div>
<div>Short term indicators are negative, and the primary trend is still down.</div>
<div><br>
</div>
<div>Wheat: </div>
<div>Wheat has behaved nicely this week, as it seems to have found comfort in the $4.20 area on the December contract after the September USDA report. This could be temporary, as the continuous chart of the daily action shows support closer to the $4 level.
Either way, we have had a significant selloff since the July 5 highs, and we are more than due for at least a 40 cent bounce from these levels over the next few weeks. </div>
<div><br>
</div>
<div>Support sits at $4.20 and again at $4 on the long term chart based on the lead month Chicago contract, while overhead resistance is viewed at $4.60. </div>
<div>All indicators are still negative, and the primary trend is still down.</div>
<div><br>
</div>
<div>Harvest 2017 prices as of the close, September 13, are as follows:</div>
<div>SWW @ $182.92/MT ($4.98/bu), HRW @ $185.15/MT ($5.04/bu), </div>
<div> HRS @ $238.95/MT ($6.50/bu), SRW @ $182.91/MT ($4.98/bu). </div>
<div><br>
</div>
<div></div>
<div>---</div>
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<span style="background:#FDFDFD">Editor, AgriLink and Farm Market News<span class="apple-converted-space"> </span></span><br>
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