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<p><u></u></p>
<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, October 5</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.2562 up 0.0092</u></div>
<div><u>Chicago corn closed slightly higher.</u></div>
<div><u><br>
</u></div>
<div><u> DEC17 HI 3.51 1/4 DEC18 HI 3.97</u></div>
<div><u> LOW 3.47 1/2 LOW 3.93 1/4</u></div>
<div><u> CLOSE3.49 1/2 Up 1 1/4 CLOSE 3.95 3/4 Up 1 3/4</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+MAR18+MAR18</u></div>
<div><u>CK Low 0.60 4.10 161.21 0.50 4.46 175.48</u></div>
<div><u>CK High 0.70 4.20 165.15 0.60 4.56 179.42</u></div>
<div><u>CK Avg 0.64 -0.20 4.14 162.85 0.58 -0.34 4.54 178.76</u></div>
<div><u>Essex Cty 0.65 4.15 163.18 0.50 4.46 175.48</u></div>
<div><u>Mdsx Low 0.60 4.10 161.21 0.60 4.56 179.42</u></div>
<div><u>Mdsx High 0.65 4.15 163.18 0.60 4.56 179.42</u></div>
<div><u>Mdsx Avg 0.63 -0.22 4.12 162.20 0.60 -0.33 4.56 179.42</u></div>
<div><u>Hensall 0.63 4.12 162.20 0.65 4.61 181.39</u></div>
<div><u>Bruce 0.65 4.15 163.18 0.65 4.61 181.39</u></div>
<div><u>Putnam 0.60 4.10 161.21 0.60 4.56 179.42</u></div>
<div><u>Burford 0.75 4.25 167.12 0.65 4.61 181.39</u></div>
<div><u>Port Perry 0.75 4.25 167.12 0.60 4.56 179.42</u></div>
<div><u>Norfolk 0.75 4.25 167.12 0.65 4.61 181.39</u></div>
<div><u>Palmerston 0.75 4.25 167.12 0.50 4.46 175.48</u></div>
<div><u>Varna 0.65 4.15 163.18 0.70 4.66 183.36</u></div>
<div><u>Trenton 0.75 4.25 167.12 0.70 4.66 183.36</u></div>
<div><u>Winchester 1.10 4.60 180.90N/A</u></div>
<div><u>North Gower 1.07 4.57 179.72 1.04 5.00 196.74</u></div>
<div><u>Huron FOB 0.72 4.22 165.94 0.77 4.73 186.11</u></div>
<div><u>Kent FOB 0.70 4.20 165.15 0.65 4.61 181.39</u></div>
<div><u>Lamb FOB 0.70 4.20 165.15N/A</u></div>
<div><u>Mdsx FOB 0.70N/A N/A N/A 4.20 165.15 0.60 4.56 179.42</u></div>
<div><u>FOB SW Que 1.44 4.94 194.28N/A</u></div>
<div><u>Track 1.20 4.70 184.83N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A 0.85 0.85 0.75 4.71 185.33</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 0.85 0.90 0.75 4.71 185.33</u></div>
<div><u>Sarn-Eth 0.90 0.90 0.95 0.90 4.40 173.02N/A</u></div>
<div><u>Kawartha N/A N/A N/A N/A N/A</u></div>
<div><u>London-Ing N/A 0.90 0.95 0.90 0.80 4.76 187.29</u></div>
<div><u>Pt.Colb-Ing N/A 0.95N/A N/A N/A</u></div>
<div><u>Cardnl-Ing 1.45 1.05 1.10 1.05 4.95 194.68 0.95 4.91 193.20</u></div>
<div><u>W O Feed 1.52 5.02 197.51</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.40 4.90 192.71</u></div>
<div><u>Toledo El. -0.28 3.22 126.71 -0.38 3.58 140.97</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 0.65 1 4.14 1/2</u></div>
<div><u>HI SD CRN 0.70 4.19 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 1.2562 up 0.0092</u></div>
<div><u>Chicago soybeans closed slightly higher.</u></div>
<div><u><br>
</u></div>
<div><u> NOV17 HI 9.71 NOV18 HI 9.92 1/4</u></div>
<div><u> LOW 9.57 3/4 LOW 9.81</u></div>
<div><u> CLOSE9.68 1/4 Up 10 CLOSE 9.88 1/2 Up 8 1/2</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+JAN1+JAN18</u></div>
<div><u>CK Low 1.64 11.32 416.031.40 11.29 414.65</u></div>
<div><u>CK High 1.75 11.43 420.071.60 11.49 422.00</u></div>
<div><u>CK Average 1.67 -0.6511.35 416.951.51 -0.8111.40 418.69</u></div>
<div><u>Essex Cty 1.55 11.23 412.721.60 11.49 422.00</u></div>
<div><u>Mdsx Low 1.67 11.35 417.131.50 11.39 418.33</u></div>
<div><u>Mdsx High 1.70 11.38 418.241.54 11.43 419.80</u></div>
<div><u>Mdsx Average 1.69 -0.6311.37 417.681.52 -0.8011.41 419.06</u></div>
<div><u>Hensall 1.70 11.38 418.241.48 11.36 417.41</u></div>
<div><u>Bruce 1.65 11.33 416.401.50 11.39 418.33</u></div>
<div><u>Putnam 1.65 11.33 416.401.45 11.34 416.49</u></div>
<div><u>Burford 1.74 11.42 419.711.61 11.50 422.37</u></div>
<div><u>Port Perry 1.64 11.32 416.031.51 11.40 418.69</u></div>
<div><u>Norfolk 1.80 11.48 421.911.55 11.44 420.16</u></div>
<div><u>Palmerston 1.70 11.38 418.241.60 11.49 422.00</u></div>
<div><u>Varna 1.70 11.38 418.241.45 11.34 416.49</u></div>
<div><u>Trenton 1.70 11.38 418.241.50 11.39 418.33</u></div>
<div><u>Winchester 1.90 11.58 425.581.60 11.49 422.00</u></div>
<div><u>North Gower 1.74 11.42 419.711.52 11.41 419.06</u></div>
<div><u>Huron FOB 1.80 11.48 421.911.50 11.39 418.33</u></div>
<div><u>Kent FOB 1.65 11.33 416.401.55 11.44 420.16</u></div>
<div><u>Lambton FOB 1.75 11.43 420.071.60 11.49 422.00</u></div>
<div><u>Middlesex FOB1.86 1.91 1.94 N/A 11.54 424.111.71 11.60 426.04</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Prescott N/A N/A</u></div>
<div><u>Sarnia N/A N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.58 9.10 334.54-0.38 9.51 349.37</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2562 up 0.0092</u></div>
<div><u>Chicago wheat closed slightly lower.</u></div>
<div><u>DEC17 HI 4.44 JUL18 HI 4.88 1/2</u></div>
<div><u> LOW 4.38 LOW 4.83 1/2</u></div>
<div><u> CLOSE 4.40 3/4 Down 1 1/4 CLOSE 4.86 Down 1/4</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly to moderately higher.</u></div>
<div><u>DEC17 HI 6.18 1/4 SEP18 HI 6.41 3/4</u></div>
<div><u> LOW 6.07 1/4 LOW 6.34 1/2</u></div>
<div><u> CLOSE 6.15 1/2 Up 5 1/2 CLOSE 6.39 Up 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 0.75 1.00 0.88 0.45</u></div>
<div><u>CAD $/bu 5.16 5.41 5.29 6.60</u></div>
<div><u>CAD $/tonne 189.59 198.82 194.21 242.56</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 0.60 N/A N/A N/A 0.60 N/A</u></div>
<div><u>London 0.54 0.67 0.61 N/A 0.90 0.83 0.65 N/A</u></div>
<div><u>Hensall 0.60 N/A 0.60 N/A 0.85 N/A 0.60 N/A</u></div>
<div><u>Trenton N/A N/A 0.65 N/A N/A N/A 0.80 N/A</u></div>
<div><u>Bruce 0.60 N/A 0.60 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 0.62 N/A</u></div>
<div><u>Norwich 0.60 N/A 0.60 N/A 0.85 N/A 0.60 N/A</u></div>
<div><u>Port Hope N/A 0.70 0.70 N/A N/A 0.65 0.70 N/A</u></div>
<div><u>Kent Bridge 0.60 N/A 0.60 N/A 0.85 N/A 0.60 N/A</u></div>
<div><u>Chatham N/A N/A 0.55 N/A N/A N/A 0.60 N/A</u></div>
<div><u>Brigden N/A N/A 0.55 N/A N/A N/A 0.60 N/A</u></div>
<div><u>Palmerston N/A 0.45 0.45 0.25 N/A 0.65 0.60 0.35</u></div>
<div><u>Varna 0.85 0.55 0.55 N/A 0.80 0.60 0.60 N/A</u></div>
<div><u>Mitchell 0.60 0.60 0.60 N/A 0.85 0.65 0.60 N/A</u></div>
<div><u>Thornton N/A N/A N/A 0.30 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 0.75 0.75 0.35 N/A 0.80 0.85 0.10</u></div>
<div><u>W O Feed 1.30</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 1.32N/A N/A N/A 1.12N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 4.33US 5.44CA 4.71US 5.91CA</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 0.87 0.87 0.80 0.25</u></div>
<div><u>CAD $/bu 5.73 5.73 5.66 6.64</u></div>
<div><u>CAD $/tonne 210.41 210.41 208.11 244.10</u></div>
<div><u><br>
</u></div>
<div><u>(C)-Basis over the Chicago Board of Trade futures</u></div>
<div><u>(M)-Basis over the Minneapolis Grain Exchange</u></div>
<div><u><br>
</u></div>
<div><u>FEED GRAINS</u></div>
<div><u>FOB Hm Soymeal 465.07</u></div>
<div><u>DDG's FOB Srn & Aylm 140.00</u></div>
<div><u><br>
</u></div>
-----
<p></p>
<p><br>
</p>
<p>Ontario Grain Market Commentary for October 4, 2017</p>
<p>By Marty Hibbs, Grain Farmers of Ontario</p>
<p></p>
<div>Wednesday, October 4, 2017 Closing Prices </div>
<div>COMMODITY<span style="white-space:pre"> </span>PERIOD<span style="white-space:pre">
</span>PRICE<span style="white-space:pre"> </span>WEEKLY MOVEMENT</div>
<div>Corn CBOT<span style="white-space:pre"> </span>Dec<span style="white-space:pre">
</span>3.48<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre"> </span>
06<span style="white-space:pre"> </span>cents</div>
<div>Soybeans CBOT<span style="white-space:pre"> </span>Nov<span style="white-space:pre">
</span>9.58<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre"> </span>
07<span style="white-space:pre"> </span>cents</div>
<div>Wheat CBOT<span style="white-space:pre"> </span>Dec <span style="white-space:pre">
</span>4.42<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre"> </span>
17<span style="white-space:pre"> </span>cents</div>
<div>Wheat Minn.<span style="white-space:pre"> </span>Dec<span style="white-space:pre">
</span>6.10<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre"> </span>
40<span style="white-space:pre"> </span>cents</div>
<div>Wheat Kansas<span style="white-space:pre"> </span>Dec<span style="white-space:pre">
</span>4.36<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre"> </span>
22<span style="white-space:pre"> </span>cents</div>
<div>Chicago Oats<span style="white-space:pre"> </span>Dec<span style="white-space:pre">
</span>2.46<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre"> </span>
02<span style="white-space:pre"> </span>cents </div>
<div><span style="white-space:pre"></span></div>
<div>Canadian $<span style="white-space:pre"> </span>Dec<span style="white-space:pre">
</span>.8015<span style="white-space:pre"> </span>$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>Although the $3.45 support level that we identified on the December futures contract has been tested three times in the past three weeks, there is a very good possibility that prices may turn lower as we come into harvest. We are currently trading at $3.47,
and there is room to slip lower, according to both the daily and weekly charts. If we close below the $3.45 level on the December contract, we will more than likely challenge the $3.30 initial support. We could possibly even take a shot at the $3 level before
the harvest is complete. </div>
<div> Our first resistance level is at the $3.60 on the December contract.</div>
<div>Short term indicators have turned negative, and the primary trend is still down. </div>
<div> </div>
<div>Soybeans: </div>
<div>We have more of the same in soybeans as far as price action goes. The beans seem to be somewhat range-bound. It will be interesting to see the next full report as harvest goes on. The soybean contract for new crop November futures is currently trading
at the $9.60 level, and the short term indicators are still negative. We could easily retest the all-important $9 level once again before the harvest is complete. If that level were to fail, I still maintain that a visit to the $8.50 level on the lead month
is still possible. The primary trend is down, and we could still rally towards the $10 price without changing the chart formation. </div>
<div>The short term indicators are still negative, and the primary trend is still down.</div>
<div><br>
</div>
<div>Wheat: </div>
<div>Wheat continues to find solid support this week. We have inched higher by 20 cents per bushel since our $4.20 bottom, but more importantly we have received a red buy signal on the daily charts. This is encouraging, and it suggests that since we hit our
first target of $4.60 last week, we could be ready to challenge the next resistance level of $4.80 on the December contract in the coming weeks. </div>
<div>Support still sits at $4.20 on the December chart, while overhead resistance is viewed at $4.70 - $4.80. The slow, steady movement in prices is a good sign, but we need to keep in mind that the primary trend is down, and these rallies should be viewed
as selling opportunities for most farmers. </div>
<div><span style="font-size: 10pt;">Short term indicators are now positive but the primary trend is still down.</span><br>
</div>
<div><br>
</div>
<div><span style="font-size: 10pt;">Harvest 2017 prices as of the close, October 4, are as follows:</span><br>
</div>
<div>SWW @ $188.93/MT ($5.14/bu), HRW @ $198.10/MT ($5.39/bu), </div>
<div> HRS @ $238.91/MT ($6.50/bu), SRW @ $193.51/MT ($5.27/bu). </div>
<div>----</div>
<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>
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