<html>
<head>
<meta http-equiv="Content-Type" content="text/html; charset=iso-2022-jp">
<style type="text/css" style="display:none;"><!-- P {margin-top:0;margin-bottom:0;} --></style>
</head>
<body dir="ltr">
<div id="divtagdefaultwrapper" style="font-size:10pt;color:#000000;font-family:'Courier New',monospace;" dir="ltr">
<p></p>
<div id="divtagdefaultwrapper" style="font-size: 10pt; color: rgb(0, 0, 0); font-family: "Courier New", monospace, EmojiFont, "Apple Color Emoji", "Segoe UI Emoji", NotoColorEmoji, "Segoe UI Symbol", "Android Emoji", EmojiSymbols;" dir="ltr">
<p></p>
<div id="divtagdefaultwrapper" style="font-size: 10pt; color: rgb(0, 0, 0); font-family: "Courier New", monospace, EmojiFont, "Apple Color Emoji", "Segoe UI Emoji", NotoColorEmoji, "Segoe UI Symbol", "Android Emoji", EmojiSymbols;" dir="ltr">
<p></p>
<div id="divtagdefaultwrapper" style="font-size: 10pt; color: rgb(0, 0, 0); font-family: "Courier New", monospace, EmojiFont, "Apple Color Emoji", "Segoe UI Emoji", NotoColorEmoji, "Segoe UI Symbol", "Android Emoji", EmojiSymbols;" dir="ltr">
<p></p>
<div id="divtagdefaultwrapper" style="font-size: 10pt; color: rgb(0, 0, 0); font-family: "Courier New", monospace, EmojiFont, "Apple Color Emoji", "Segoe UI Emoji", NotoColorEmoji, "Segoe UI Symbol", "Android Emoji", EmojiSymbols;" dir="ltr">
<p><u></u></p>
<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, October 19</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.2482 up 0.0014</u></div>
<div><u>Chicago corn closed slightly higher.</u></div>
<div><u><br>
</u></div>
<div><u> DEC17 HI 3.51 1/2 DEC18 HI 3.96</u></div>
<div><u> LOW 3.48 1/2 LOW 3.93 1/2</u></div>
<div><u> CLOSE3.49 Up 1/2 CLOSE 3.94 1/2 Up 1</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 0.65 4.14 162.98 0.50 4.45 174.99</u></div>
<div><u>CK High 0.70 4.19 164.95 0.65 4.60 180.90</u></div>
<div><u>CK Avg 0.66 -0.17 4.15 163.31 0.61 -0.29 4.55 179.26</u></div>
<div><u>Essex Cty 0.65 4.14 162.98 0.50 4.45 174.99</u></div>
<div><u>Mdsx Low 0.65 4.14 162.98 0.60 4.55 178.93</u></div>
<div><u>Mdsx High 0.65 4.14 162.98 0.65 4.60 180.90</u></div>
<div><u>Mdsx Avg 0.65 -0.17 4.14 162.98 0.63 -0.28 4.57 179.91</u></div>
<div><u>Hensall 0.65 4.14 162.98 0.68 4.62 181.88</u></div>
<div><u>Bruce 0.65 4.14 162.98 0.65 4.60 180.90</u></div>
<div><u>Putnam 0.65 4.14 162.98 0.55 4.50 176.96</u></div>
<div><u>Burford 0.75 4.24 166.92 0.65 4.60 180.90</u></div>
<div><u>Port Perry 0.75 4.24 166.92 0.65 4.60 180.90</u></div>
<div><u>Norfolk 0.75 4.24 166.92 0.65 4.60 180.90</u></div>
<div><u>Palmerston 0.65 4.14 162.98 0.50 4.45 174.99</u></div>
<div><u>Varna 0.65 4.14 162.98 0.70 4.65 182.87</u></div>
<div><u>Trenton 0.75 4.24 166.92 0.75 4.70 184.83</u></div>
<div><u>Winchester 1.20 4.69 184.64 0.80 4.75 186.80</u></div>
<div><u>North Gower 1.10 4.59 180.70 0.80 4.75 186.80</u></div>
<div><u>Huron FOB 0.72 4.21 165.74 0.77 4.72 185.62</u></div>
<div><u>Kent FOB 0.70 4.19 164.95 0.65 4.60 180.90</u></div>
<div><u>Lamb FOB 0.70 4.19 164.95 0.55 4.50 176.96</u></div>
<div><u>Mdsx FOB 0.70 0.70 0.75 0.75 4.19 164.95 0.60 4.55 178.93</u></div>
<div><u>FOB SW Que 1.32 4.81 189.36N/A</u></div>
<div><u>Track 1.13 4.62 181.68N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A 0.92 0.92 0.75 4.70 184.83</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 0.90 0.90 0.75 4.70 184.83</u></div>
<div><u>Sarn-Eth N/A 0.90 0.95 0.90 N/A</u></div>
<div><u>Kawartha N/A N/A N/A N/A N/A</u></div>
<div><u>London-Ing 1.10 1.05 0.95 0.90 4.59 180.70 0.85 4.80 188.77</u></div>
<div><u>Pt.Colb-Ing N/A 1.00N/A N/A N/A</u></div>
<div><u>Cardnl-Ing N/A 1.20 1.22 1.10 1.00 4.95 194.68</u></div>
<div><u>W O Feed 1.34 4.83 190.31</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.26 4.75 187.00</u></div>
<div><u>Toledo El. -0.27 3.22 126.58 -0.37 3.57 140.60</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 4.16 1/2</u></div>
<div><u>HI SD CRN 0.70 4.19</u></div>
<div><u>*Wet Bid</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2482 up 0.0014</u></div>
<div><u>Chicago soybeans closed slightly higher.</u></div>
<div><u><br>
</u></div>
<div><u> NOV17 HI 9.89 NOV18 HI 10.05 1/2</u></div>
<div><u> LOW 9.83 LOW 9.98 3/4</u></div>
<div><u> CLOSE9.86 1/2 Up 2 1/4 CLOSE 10.03 1/2 Up 3 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 1.75 11.62 426.781.66 11.70 429.72</u></div>
<div><u>CK High 1.85 11.72 430.451.75 11.79 433.02</u></div>
<div><u>CK Average 1.80 -0.5211.66 428.431.71 -0.6111.75 431.55</u></div>
<div><u>Essex Cty 1.70 11.57 424.941.70 11.74 431.19</u></div>
<div><u>Mdsx Low 1.77 11.64 427.511.66 11.70 429.72</u></div>
<div><u>Mdsx High 1.85 11.72 430.451.70 11.74 431.19</u></div>
<div><u>Mdsx Average 1.81 -0.5111.68 428.981.68 -0.6311.72 430.45</u></div>
<div><u>Hensall 1.88 11.74 431.371.73 11.76 432.11</u></div>
<div><u>Bruce 1.80 11.67 428.621.70 11.74 431.19</u></div>
<div><u>Putnam 1.85 11.72 430.451.70 11.74 431.19</u></div>
<div><u>Burford 1.84 11.71 430.091.73 11.77 432.29</u></div>
<div><u>Port Perry 1.74 11.61 426.411.63 11.67 428.62</u></div>
<div><u>Norfolk 1.90 11.77 432.291.75 11.79 433.02</u></div>
<div><u>Palmerston 1.85 11.72 430.451.75 11.79 433.02</u></div>
<div><u>Varna 1.90 11.77 432.291.75 11.79 433.02</u></div>
<div><u>Trenton 1.80 11.67 428.621.70 11.74 431.19</u></div>
<div><u>Winchester 1.87 11.74 431.191.73 11.77 432.29</u></div>
<div><u>North Gower 1.82 11.69 429.351.60 11.64 427.51</u></div>
<div><u>Huron FOB 2.00 11.87 435.961.85 11.89 436.70</u></div>
<div><u>Kent FOB 1.75 11.62 426.781.70 11.74 431.19</u></div>
<div><u>Lambton FOB 1.85 11.72 430.451.80 11.84 434.86</u></div>
<div><u>Middlesex FOB2.21 2.27 2.33 2.22 12.08 443.681.92 11.96 439.27</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. -0.50 9.37 344.13-0.37 9.66 354.99</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2482 up 0.0014</u></div>
<div><u>Chicago wheat closed slightly higher.</u></div>
<div><u>DEC17 HI 4.36 1/4 JUL18 HI 4.81 1/2</u></div>
<div><u> LOW 4.29 1/2 LOW 4.76</u></div>
<div><u> CLOSE 4.32 3/4 Up 2 3/4 CLOSE 4.78 1/4 Up 1 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 3/4 SEP18 HI 6.37</u></div>
<div><u> LOW 6.10 1/2 LOW 6.30 3/4</u></div>
<div><u> CLOSE 6.15 3/4 Up 5 3/4 CLOSE 6.34 1/2 Up 4 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 0.70 0.95 0.82 0.40</u></div>
<div><u>CAD $/bu 5.03 5.28 5.15 6.56</u></div>
<div><u>CAD $/tonne 184.72 193.89 189.30 241.13</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 0.70 N/A N/A N/A 0.65 N/A</u></div>
<div><u>London 0.50 0.62 0.62 N/A 0.86 0.79 0.54 N/A</u></div>
<div><u>Hensall 0.70 N/A 0.70 N/A 0.90 N/A 0.70 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 0.70 0.60 0.70 0.10 0.90 0.65 0.70 0.35</u></div>
<div><u>Essex N/A N/A N/A N/A N/A N/A 0.65 N/A</u></div>
<div><u>Norwich 0.70 N/A 0.70 N/A 0.90 N/A 0.70 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 0.70 N/A 0.70 N/A 0.90 N/A 0.70 N/A</u></div>
<div><u>Chatham N/A N/A 0.70 N/A N/A N/A 0.65 N/A</u></div>
<div><u>Brigden N/A N/A 0.70 N/A N/A N/A 0.65 N/A</u></div>
<div><u>Palmerston N/A 0.60 0.60 0.25 N/A 0.65 0.60 0.35</u></div>
<div><u>Varna 0.95 0.65 0.65 N/A 0.85 0.65 0.65 N/A</u></div>
<div><u>Mitchell 0.70 0.70 0.70 N/A 0.90 0.70 0.70 N/A</u></div>
<div><u>Thornton N/A N/A N/A 0.16 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 0.70 0.70 0.30 N/A 0.86 0.81 0.10</u></div>
<div><u>W O Feed 1.36</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 1.26N/A N/A N/A 1.18N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 4.25US 5.30CA 4.58US 5.71CA</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 0.80 0.80 0.74 0.19</u></div>
<div><u>CAD $/bu 5.58 5.58 5.52 6.53</u></div>
<div><u>CAD $/tonne 205.17 205.17 202.89 240.08</u></div>
<div><u><br>
</u></div>
<div><u>(C)-Basis over the Chicago Board of Trade futures</u></div>
<div><u>(M)-Basis over the Minneapolis Grain Exchange</u></div>
<div><u><br>
</u></div>
<div><u>FEED GRAINS</u></div>
<div><u>FOB Hm Soymeal 464.52</u></div>
<div><u>DDG's FOB Srn & Aylm 145.00</u></div>
<div><br>
</div>
<div><br>
</div>
<div>------</div>
<div>Ontario Grain Market Commentary for October 18, 2017</div>
<div>By Marty Hibbs, Grain Farmers of Ontario</div>
<div><br>
</div>
<div>
<div>Wednesday, October 18, 2017 Closing Prices </div>
<div>COMMODITY<span style="white-space:pre"> </span>PERIOD<span style="white-space:pre">
</span>PRICE<span style="white-space:pre"> </span>WEEKLY MOVEMENT</div>
<div>Corn CBOT<span style="white-space:pre"> </span>Dec<span style="white-space:pre">
</span>3.48<span style="white-space:pre"> </span>$B",(B<span style="white-space:pre"> </span>
01<span style="white-space:pre"> </span>cents</div>
<div>Soybeans CBOT<span style="white-space:pre"> </span>Nov<span style="white-space:pre">
</span>9.84<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre"> </span>
08<span style="white-space:pre"> </span>cents</div>
<div>Wheat CBOT<span style="white-space:pre"> </span>Dec <span style="white-space:pre">
</span>4.30<span style="white-space:pre"> </span>$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>6.10<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre"> </span>
02<span style="white-space:pre"> </span>cents</div>
<div>Wheat Kansas<span style="white-space:pre"> </span>Dec<span style="white-space:pre">
</span>4.28<span style="white-space:pre"> </span>$B",(B<span style="white-space:pre"> </span>
02<span style="white-space:pre"> </span>cents</div>
<div>Chicago Oats<span style="white-space:pre"> </span>Dec<span style="white-space:pre">
</span>2.68<span style="white-space:pre"> </span>$B",(B<span style="white-space:pre"> </span>
06<span style="white-space:pre"> </span>cents </div>
<div><span style="white-space:pre"></span></div>
<div>Canadian $<span style="white-space:pre"> </span>Dec<span style="white-space:pre">
</span>.8025<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre">
</span>0.10<span style="white-space:pre"> </span>points</div>
<div><br>
</div>
<div>Corn: </div>
<div>Corn actually ran the stops on the December contract lows last week and closed the day higher. This is a good initial move to allow higher prices in the coming weeks. The only problem with this short sighted plan is that the weekly continuation chart shows
a low of $3.28 as the old bottom, while the daily December chart now still shows contract lows are $3.40.</div>
<div>With the harvest well under way, we will need more bearish news if the markets plan to slip below last week$B!G(Bs stops; and if that were to happen, there is a better than average chance that we will indeed challenge the $3.28 lows for the 2017 crop year.
Support is still seen at the $3.40 level on the December contract, while overhead resistance is seen at $3.60.</div>
<div>Short term indicators are still negative, and the primary trend is still down. </div>
<div> </div>
<div>Soybeans: </div>
<div>We had our pop towards the $10 mark as indicated in last week$B!G(Bs commentary. We are now getting a check back in prices but the bullish formation is still intact. We are still expecting much higher prices in 2018 and this week we received a red buy signal
on our weekly charts. </div>
<div>Support is seen at $9.40 and our overhead resistance is at the $10 mark on the November contract. </div>
<div>Both short and medium term indicators are now positive, but the primary trend is still down.</div>
<div><br>
</div>
<div>Wheat: </div>
<div>We mentioned in our last commentary that the recent lows in the December wheat contract would soon be tested, and as of October 18 we are trading at $4.30 per bushel. Our recent bottom is pegged at $4.28 with our contract low being recorded at $4.22 and
our weekly chart shows $4 as the yearly low. Either way, we have several targets in our sights and hopefully one of them will signal a bottoming action for some price relief. </div>
<div>For now, the $4 bottom on the weekly chart from September 1 could be the required test for support. Initial support still sits at $4.20 with solid support at $4 on the December chart, while overhead resistance is viewed at $4.60. </div>
<div>Short term indicators are still negative and the primary trend is still down.</div>
<div><br>
</div>
<div><span style="font-size: 10pt;">Harvest 2017 prices as of the close, October 18, are as follows:</span><br>
</div>
<div>SWW @ $183.15/MT ($4.98/bu), HRW @ $192.30/MT ($5.23/bu), </div>
<div> HRS @ $238.09/MT ($6.48/bu), SRW @ $187.72/MT ($5.11/bu). </div>
<div>___</div>
</div>
<div><br>
</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>
<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;
background:#FDFDFD"> </span></span><span style="font-size:10.0pt;
line-height:115%;font-family:"Courier New";color:#333333"><br>
<br>
<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%;
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"> to
unsubscribe from this report.</span><span style="font-size:10.0pt;line-height:115%;font-family:"Courier New";color:#333333"><br>
<span style="background:#FDFDFD">This Farm Market News product is sponsored by:</span><br>
<span style="background:#FDFDFD">Grain Farmers of Ontario<o:p></o:p></span></span></p>
<span id="ms-rterangepaste-end"></span><br>
</div>
<div><br>
</div>
<p></p>
</div>
<p></p>
</div>
<p></p>
</div>
<p></p>
</div>
<p></p>
</div>
</body>
</html>