<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><u></u></p>
<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, November 2</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.2808 down 0.0067</u></div>
<div><u>Chicago corn closed slightly higher.</u></div>
<div><u><br>
</u></div>
<div><u> DEC17 HI 3.52 DEC18 HI 3.96 1/4</u></div>
<div><u> LOW 3.47 1/2 LOW 3.92 1/2</u></div>
<div><u> CLOSE3.50 1/2 Up 2 1/4 CLOSE 3.95 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 +MAR18+MAR18+MAR18</u></div>
<div><u>CK Low 0.65 4.16 163.58 0.65 4.60 181.09</u></div>
<div><u>CK High 0.75 4.26 167.51 0.75 4.70 185.03</u></div>
<div><u>CK Avg 0.72 -0.21 4.22 166.20 0.73 -0.29 4.68 184.05</u></div>
<div><u>Essex Cty 0.65 4.16 163.58 0.75 4.70 185.03</u></div>
<div><u>Mdsx Low 0.70 4.21 165.54 0.75 4.70 185.03</u></div>
<div><u>Mdsx High 0.75 4.26 167.51 0.75 4.70 185.03</u></div>
<div><u>Mdsx Avg 0.73 -0.20 4.23 166.53 0.75 -0.27 4.70 185.03</u></div>
<div><u>Hensall 0.73 4.23 166.53 0.75 4.70 185.03</u></div>
<div><u>Bruce 0.70 4.21 165.54 0.75 4.70 185.03</u></div>
<div><u>Putnam 0.70 4.21 165.54 0.75 4.70 185.03</u></div>
<div><u>Burford 0.85 4.36 171.45 0.75 4.70 185.03</u></div>
<div><u>Port Perry 0.75 4.26 167.51 0.75 4.70 185.03</u></div>
<div><u>Norfolk 0.85 4.36 171.45 0.70 4.65 183.06</u></div>
<div><u>Palmerston 0.70 4.21 165.54 0.75 4.70 185.03</u></div>
<div><u>Varna 0.80 4.31 169.48 0.75 4.70 185.03</u></div>
<div><u>Trenton 0.75 4.26 167.51 0.85 4.80 188.97</u></div>
<div><u>Winchester 1.20 4.71 185.23 0.85 4.80 188.97</u></div>
<div><u>North Gower 1.10 4.61 181.29 0.80 4.75 187.00</u></div>
<div><u>Huron FOB 0.75 4.26 167.51 0.75 4.70 185.03</u></div>
<div><u>Kent FOB 0.80 4.31 169.48 0.75 4.70 185.03</u></div>
<div><u>Lamb FOB 0.70 4.21 165.54 0.65 4.60 181.09</u></div>
<div><u>Mdsx FOB 0.70 0.75 0.75 0.75 4.21 165.54 0.75 4.70 185.03</u></div>
<div><u>FOB SW Que 1.30 4.81 189.16N/A</u></div>
<div><u>Track 1.08 4.58 180.31N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A 0.95 0.90 0.95 0.85 4.80 188.97</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A N/A N/A</u></div>
<div><u>Aylmer-Eth N/A 1.00 0.95 0.95 0.85 4.80 188.97</u></div>
<div><u>Sarn-Eth 0.90 0.95 0.90N/A 4.41 173.42N/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 1.00 1.00 4.61 181.29 0.90 4.85 190.94</u></div>
<div><u>Pt.Colb-Ing 0.95N/A N/A N/A 4.46 175.39N/A</u></div>
<div><u>Cardnl-Ing N/A 1.30 1.15 1.20 1.05 5.00 196.84</u></div>
<div><u>W O Feed 1.23 4.74 186.41</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.33 4.84 190.35</u></div>
<div><u>Toledo El. -0.23 3.27 128.91 -0.38 3.57 140.41</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 4.20 1/2</u></div>
<div><u>HI SD CRN 0.75 4.25 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 1.2808 down 0.0067</u></div>
<div><u>Chicago soybeans closed slightly higher.</u></div>
<div><u><br>
</u></div>
<div><u> JAN18 HI 10.00 1/2 NOV18 HI 10.08 1/2</u></div>
<div><u> LOW 9.90 LOW 9.98 1/4</u></div>
<div><u> CLOSE9.99 1/4 Up 8 CLOSE 10.08 Up 7 3/4</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 +JAN1+JAN1+MAR18</u></div>
<div><u>CK Low 1.90 11.89 436.972.05 12.13 445.70</u></div>
<div><u>CK High 2.00 11.99 440.652.10 12.18 447.54</u></div>
<div><u>CK Average 1.98 -0.6511.97 439.792.09 -0.5612.17 447.05</u></div>
<div><u>Essex Cty 1.95 11.94 438.812.05 12.13 445.70</u></div>
<div><u>Mdsx Low 1.96 11.95 439.182.07 12.15 446.44</u></div>
<div><u>Mdsx High 2.05 12.04 442.492.15 12.23 449.38</u></div>
<div><u>Mdsx Average 2.01 -0.6312.00 440.832.11 -0.5412.19 447.91</u></div>
<div><u>Hensall 2.05 12.04 442.492.13 12.21 448.46</u></div>
<div><u>Bruce 2.00 11.99 440.652.10 12.18 447.54</u></div>
<div><u>Putnam 1.95 11.94 438.812.00 12.08 443.86</u></div>
<div><u>Burford 2.03 12.02 441.752.14 12.22 449.01</u></div>
<div><u>Port Perry 1.93 11.92 438.082.04 12.12 445.33</u></div>
<div><u>Norfolk 2.05 12.04 442.492.15 12.23 449.38</u></div>
<div><u>Palmerston 2.05 12.04 442.492.10 12.18 447.54</u></div>
<div><u>Varna 2.05 12.04 442.492.10 12.18 447.54</u></div>
<div><u>Trenton 2.00 11.99 440.652.10 12.18 447.54</u></div>
<div><u>Winchester 2.00 11.99 440.651.94 12.02 441.66</u></div>
<div><u>North Gower 1.92 11.91 437.711.85 11.93 438.35</u></div>
<div><u>Huron FOB 2.15 12.14 446.162.20 12.28 451.21</u></div>
<div><u>Kent FOB 2.05 12.04 442.492.10 12.18 447.54</u></div>
<div><u>Lambton FOB 2.05 12.04 442.492.20 12.28 451.21</u></div>
<div><u>Middlesex FOB2.12 2.25 2.30 2.23 12.11 445.062.19 12.27 450.85</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Prescott 2.26 12.25 450.202.20 12.28 451.21</u></div>
<div><u>Sarnia N/A N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.58 9.42 345.98-0.38 9.70 356.28</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2808 down 0.0067</u></div>
<div><u>Chicago wheat closed moderately higher.</u></div>
<div><u>DEC17 HI 4.26 3/4 JUL18 HI 4.73 1/4</u></div>
<div><u> LOW 4.17 1/2 LOW 4.63 1/4</u></div>
<div><u> CLOSE 4.26 Up 8 CLOSE 4.72 Up 8 3/4</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly to moderately higher.</u></div>
<div><u>DEC17 HI 6.24 SEP18 HI 6.40 1/2</u></div>
<div><u> LOW 6.13 1/2 LOW 6.35</u></div>
<div><u> CLOSE 6.22 3/4 Up 8 3/4 CLOSE 6.40 Up 3 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 0.81 1.07 0.94 0.60</u></div>
<div><u>CAD $/bu 5.07 5.33 5.20 6.82</u></div>
<div><u>CAD $/tonne 186.37 195.78 191.07 250.72</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 0.90 N/A N/A N/A 0.75 N/A</u></div>
<div><u>London 0.86 0.99 0.86 N/A 0.99 0.92 0.73 N/A</u></div>
<div><u>Hensall 0.90 N/A 0.90 N/A 0.95 N/A 0.75 N/A</u></div>
<div><u>Trenton N/A N/A N/A N/A N/A N/A 0.90 N/A</u></div>
<div><u>Bruce N/A 0.90 0.90 0.10 0.95 0.75 0.75 0.35</u></div>
<div><u>Essex N/A N/A N/A N/A N/A N/A 0.80 N/A</u></div>
<div><u>Norwich 0.90 N/A 0.90 N/A 0.95 N/A 0.75 N/A</u></div>
<div><u>Port Hope N/A 0.85 0.85 N/A N/A 0.75 0.75 N/A</u></div>
<div><u>Kent Bridge 0.90 N/A 0.90 N/A 0.95 N/A 0.75 N/A</u></div>
<div><u>Chatham N/A N/A 0.90 N/A N/A N/A 0.75 N/A</u></div>
<div><u>Brigden N/A N/A 0.90 N/A N/A N/A 0.75 N/A</u></div>
<div><u>Palmerston N/A 0.60 0.85 0.25 N/A 0.65 0.75 0.35</u></div>
<div><u>Varna 1.20 0.90 0.90 N/A 0.95 0.75 0.75 N/A</u></div>
<div><u>Mitchell 0.90 0.90 0.90 N/A 0.95 0.75 0.75 N/A</u></div>
<div><u>Thornton N/A N/A N/A 0.18 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 0.75 0.75 0.50 N/A 0.91 0.91 0.25</u></div>
<div><u>W O Feed 1.44</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 1.39N/A N/A N/A 1.31N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 4.21US 5.39CA 4.57US 5.84CA</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 0.93 0.93 0.87 0.38</u></div>
<div><u>CAD $/bu 5.65 5.65 5.59 6.78</u></div>
<div><u>CAD $/tonne 207.63 207.63 205.28 248.97</u></div>
<div><u><br>
</u></div>
<div><u>(C)-Basis over the Chicago Board of Trade futures</u></div>
<div><u>(M)-Basis over the Minneapolis Grain Exchange</u></div>
<div><u><br>
</u></div>
<div><u>FEED GRAINS</u></div>
<div><u>FOB Hm Soymeal 462.32</u></div>
<div><u>DDG's FOB Srn & Aylm 140.00 - 145.00</u></div>
<div><u><br>
</u></div>
<div>---</div>
<div>Ontario Grain Market Commentary for November 1, 2017</div>
<div>By Marty Hibbs, Grain Farmers of Ontario</div>
<div>
<div>Wednesday, November 1, 2017 Closing Prices </div>
<div>COMMODITY<span style="white-space:pre"> </span>PERIOD<span style="white-space:pre">
</span>PRICE<span style="white-space:pre"> </span>WEEKLY MOVEMENT</div>
<div>Corn CBOT<span style="white-space:pre"> </span>Dec<span style="white-space:pre">
</span>3.48<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre"> </span>
03<span style="white-space:pre"> </span>cents</div>
<div>Soybeans CBOT<span style="white-space:pre"> </span>Jan<span style="white-space:pre">
</span>9.91<span style="white-space:pre"> </span>$B",(B<span style="white-space:pre"> </span>
06<span style="white-space:pre"> </span>cents</div>
<div>Wheat CBOT<span style="white-space:pre"> </span>Dec <span style="white-space:pre">
</span>4.18<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre"> </span>
10<span style="white-space:pre"> </span>cents</div>
<div>Wheat Minn.<span style="white-space:pre"> </span>Dec<span style="white-space:pre">
</span>6.14<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre"> </span>
08<span style="white-space:pre"> </span>cents</div>
<div>Wheat Kansas<span style="white-space:pre"> </span>Dec<span style="white-space:pre">
</span>4.16<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre"> </span>
16<span style="white-space:pre"> </span>cents</div>
<div>Chicago Oats<span style="white-space:pre"> </span>Dec<span style="white-space:pre">
</span>2.71<span style="white-space:pre"> </span>$B",(B<span style="white-space:pre"> </span>
07<span style="white-space:pre"> </span>cents </div>
<div><span style="white-space:pre"></span></div>
<div>Canadian $<span style="white-space:pre"> </span>Dec<span style="white-space:pre">
</span>.7770<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre">
</span>.40<span style="white-space:pre"> </span>points</div>
<div><br>
</div>
<div>Corn: </div>
<div>The good news this week is that we are about to test the $3.40 level on the December chart for the third time in as many weeks. If this holds, we could see a rally that could be slow but solid over the next few months. The bad news though is more convincing
at this point because the major support line on the weekly charts is down at near $3 based on the front month futures. To add to the negative side of this equation, we are still staring at our red sell signal from the last week of August on the weekly chart
and if our triple bottom attempt at the $3.40 should fail, there is a good chance we could be looking at the $3.30 area before the December contract expires. Hopefully, this will not be the case and we can see some upside once the harvest pressure is abated.</div>
<div>Initial support is still seen at the $3.40 and again near $3.30 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 have been range-bound on soybeans for the past week but the charts are encouraging. The four year old weekly trend line, cuts across the $10 level on the lead month contract. This is where we are currently on the January futures contract. Once the harvest
is complete, we could actually challenge that line in the sand and if we manage a convincing close above the $10 level, we may indeed be ready for a January rally of some significance. </div>
<div>Our red buy signal from last week on our weekly charts is still intact. </div>
<div>Indicators are mixed as we see short term indicators with a downward bias while the medium term indicators are showing strength and are signalling a run at our four year old trend line. </div>
<div>Personally, I feel a close above the $10.25 level on the January contract would be the first confirmation that this four-year-old trend-line is in trouble. </div>
<div>Support is seen at $9.40 and our overhead resistance is at the $10 - $10.25 area on the January contract. </div>
<div>Both short and medium term indicators are positive, but the primary trend is still down.</div>
<div><br>
</div>
<div>Wheat: </div>
<div><span style="font-size: 10pt;">Last week$B!G(Bs concerns have come to fruition as we have ventured into new low territory on the December Chicago wheat futures. This was not a surprise given the weekly chart and we are now looking at a more supportive target
as we approach the $4 trend line on the weekly chart. The $4 bottom on the weekly chart from September 1 should hold and when we see an indicator that the technicals are reversing, we will look for higher prices into the new year. </span><br>
</div>
<div>Solid support is seen 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;">Cash Grain prices as of the close, November 1, are as follows:</span><br>
</div>
<div>SWW @ $183.62/MT ($5.00/bu), HRW @ $193.07/MT ($5.25/bu), </div>
<div> HRS @ $247.66/MT ($6.74/bu), SRW @ $188.34/MT ($5.13/bu). </div>
<div><br>
</div>
<div>---</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>
<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>
<br>
</div>
<br>
</div>
<div><br>
</div>
<div><br>
</div>
<div><br>
</div>
<u><br>
</u>
<p></p>
<p><u><br>
</u></p>
<div id="Signature">
<div id="divtagdefaultwrapper" style="font-size: 12pt; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: Calibri, Arial, Helvetica, sans-serif, EmojiFont, "Apple Color Emoji", "Segoe UI Emoji", NotoColorEmoji, "Segoe UI Symbol", "Android Emoji", EmojiSymbols;">
<p></p>
<div><u><br>
</u></div>
<p></p>
<p><br>
</p>
</div>
</div>
</div>
</body>
</html>