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<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Tue, November 21</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.2775 down 0.0027</u></div>
<div><u>Chicago corn closed slightly lower to steady.</u></div>
<div><u><br>
</u></div>
<div><u> DEC17 HI 3.45 3/4 DEC18 HI 3.88 1/4</u></div>
<div><u> LOW 3.42 3/4 LOW 3.85 3/4</u></div>
<div><u> CLOSE3.45 Unchanged CLOSE 3.88 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 +MAR18+MAR18+MAR18</u></div>
<div><u>CK Low 0.70 4.15 163.38 0.70 4.58 180.31</u></div>
<div><u>CK High 0.75 4.20 165.35 0.75 4.63 182.28</u></div>
<div><u>CK Avg 0.71 -0.19 4.16 163.71 0.73 -0.26 4.61 181.62</u></div>
<div><u>Essex Cty 0.70 4.15 163.38 0.75 4.63 182.28</u></div>
<div><u>Mdsx Low 0.70 4.15 163.38 0.75 4.63 182.28</u></div>
<div><u>Mdsx High 0.75 4.20 165.35 0.75 4.63 182.28</u></div>
<div><u>Mdsx Avg 0.73 -0.18 4.18 164.36 0.75 -0.25 4.63 182.28</u></div>
<div><u>Hensall 0.75 4.20 165.35 0.75 4.63 182.28</u></div>
<div><u>Bruce 0.75 4.20 165.35 0.75 4.63 182.28</u></div>
<div><u>Putnam 0.70 4.15 163.38 0.75 4.63 182.28</u></div>
<div><u>Burford 0.75 4.20 165.35 0.75 4.63 182.28</u></div>
<div><u>Port Perry 0.75 4.20 165.35 0.75 4.63 182.28</u></div>
<div><u>Norfolk 0.70 4.15 163.38 0.70 4.58 180.31</u></div>
<div><u>Palmerston 0.75 4.20 165.35 0.75 4.63 182.28</u></div>
<div><u>Varna 0.75 4.20 165.35 0.75 4.63 182.28</u></div>
<div><u>Trenton 0.75 4.20 165.35 0.85 4.73 186.21</u></div>
<div><u>Winchester 1.25 4.70 185.03 0.90 4.78 188.18</u></div>
<div><u>North Gower 1.15 4.60 181.09 0.85 4.73 186.21</u></div>
<div><u>Huron FOB 0.77 4.22 166.13 0.80 4.68 184.24</u></div>
<div><u>Kent FOB 0.75 4.20 165.35 0.70 4.58 180.31</u></div>
<div><u>Lamb FOB 0.70 4.15 163.38 0.65 4.53 178.34</u></div>
<div><u>Mdsx FOB 0.70 0.75 0.70 0.75 4.15 163.38 0.75 4.63 182.28</u></div>
<div><u>FOB SW Que 1.27 4.72 185.82N/A</u></div>
<div><u>Track 1.08 4.53 178.14N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A 0.95 1.00 0.85 4.73 186.21</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A N/A N/A</u></div>
<div><u>Aylmer-Eth N/A 0.95 0.95 0.95 0.85 4.73 186.21</u></div>
<div><u>Sarn-Eth 0.90 0.95 0.90N/A 4.35 171.25N/A</u></div>
<div><u>Kawartha N/A N/A N/A N/A N/A</u></div>
<div><u>London-Ing 1.05N/A N/A N/A 4.50 177.16 0.90 4.78 188.18</u></div>
<div><u>Pt.Colb-Ing 0.95N/A N/A N/A 4.40 173.22N/A</u></div>
<div><u>Cardnl-Ing N/A N/A 1.35 1.40 1.05 4.93 194.09</u></div>
<div><u>W O Feed 1.21 4.66 183.53</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.22 4.67 183.85</u></div>
<div><u>Toledo El. -0.13 3.32 130.79 -0.25 3.63 142.71</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 0.72 1/2 4.17 1/2</u></div>
<div><u>HI SD CRN 0.75 4.20</u></div>
<div><u>*Wet Bid</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2775 down 0.0027</u></div>
<div><u>Chicago soybeans closed slightly lower.</u></div>
<div><u><br>
</u></div>
<div><u> JAN18 HI 9.91 1/4 NOV18 HI 10.03 1/2</u></div>
<div><u> LOW 9.86 1/4 LOW 9.99</u></div>
<div><u> CLOSE9.89 Down 1 CLOSE 10.01 Down 1</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 1.94 11.83 434.681.95 11.96 439.45</u></div>
<div><u>CK High 2.05 11.94 438.722.05 12.06 443.13</u></div>
<div><u>CK Average 1.99 -0.5911.88 436.392.02 -0.5712.03 442.09</u></div>
<div><u>Essex Cty 1.90 11.79 433.211.90 11.91 437.62</u></div>
<div><u>Mdsx Low 1.94 11.83 434.682.03 12.04 442.39</u></div>
<div><u>Mdsx High 2.05 11.94 438.722.10 12.11 444.97</u></div>
<div><u>Mdsx Average 2.00 -0.5911.89 436.702.07 -0.5412.08 443.68</u></div>
<div><u>Hensall 2.03 11.92 437.802.08 12.09 444.05</u></div>
<div><u>Bruce 2.00 11.89 436.882.05 12.06 443.13</u></div>
<div><u>Putnam 2.05 11.94 438.722.10 12.11 444.97</u></div>
<div><u>Burford 2.01 11.90 437.252.10 12.11 444.97</u></div>
<div><u>Port Perry 1.91 11.80 433.582.00 12.01 441.29</u></div>
<div><u>Norfolk 2.03 11.92 437.992.10 12.11 444.97</u></div>
<div><u>Palmerston 1.95 11.84 435.052.00 12.01 441.29</u></div>
<div><u>Varna 2.00 11.89 436.882.05 12.06 443.13</u></div>
<div><u>Trenton 1.95 11.84 435.052.00 12.01 441.29</u></div>
<div><u>Winchester 2.02 11.91 437.622.00 12.01 441.29</u></div>
<div><u>North Gower 1.89 11.78 432.841.89 11.90 437.25</u></div>
<div><u>Huron FOB 2.10 11.99 440.562.15 12.16 446.80</u></div>
<div><u>Kent FOB 2.08 11.97 439.822.05 12.06 443.13</u></div>
<div><u>Lambton FOB 2.05 11.94 438.722.15 12.16 446.80</u></div>
<div><u>Middlesex FOB2.14 2.20 2.19 2.22 12.03 442.032.15 12.16 446.80</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton 2.40 12.29 451.58 N/A</u></div>
<div><u>Prescott 2.18 12.07 443.502.15 12.16 446.80</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.42 9.47 347.91-0.38 9.63 353.76</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2775 down 0.0027</u></div>
<div><u>Chicago wheat closed slightly higher.</u></div>
<div><u>DEC17 HI 4.28 3/4 JUL18 HI 4.68 1/2</u></div>
<div><u> LOW 4.20 1/4 LOW 4.60 3/4</u></div>
<div><u> CLOSE 4.24 3/4 Up 2 3/4 CLOSE 4.66 1/4 Up 4</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly higher.</u></div>
<div><u>DEC17 HI 6.32 1/4 SEP18 HI 6.37 1/2</u></div>
<div><u> LOW 6.25 3/4 LOW 6.33 1/2</u></div>
<div><u> CLOSE 6.27 Up 3/4 CLOSE 6.35 1/4 Up 1 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 0.80 1.05 0.92 0.59</u></div>
<div><u>CAD $/bu 5.04 5.30 5.17 6.86</u></div>
<div><u>CAD $/tonne 185.29 194.68 189.98 252.06</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 0.92 0.98 0.92 N/A 0.96 0.89 0.77 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 0.85 N/A</u></div>
<div><u>Bruce 0.90 0.90 0.90 0.25 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 0.71 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 1.00 0.90 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 0.90 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 0.11 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 0.75 0.75 0.50 N/A 0.89 0.89 0.25</u></div>
<div><u>W O Feed 1.53</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Toledo FM N/A N/A 1.59 N/A N/A N/A 1.28 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 4.20US 5.36CA 4.51US 5.75CA</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 0.90 0.90 0.83 0.34</u></div>
<div><u>CAD $/bu 5.56 5.56 5.50 6.69</u></div>
<div><u>CAD $/tonne 204.30 204.30 201.96 245.98</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 469.92</u></div>
<div><u>DDG's FOB Srn & Aylm 145.00 - 150.00</u></div>
<div><u><br>
</u></div>
<u></u><span style="font-size: 10pt; line-height: 115%; font-family: "Courier New"; color: rgb(51, 51, 51); background: rgb(253, 253, 253);">Blair Andrews</span><span style="font-size: 10pt; line-height: 115%; font-family: "Courier New"; color: rgb(51, 51, 51);"><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>
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