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<div><u></u>
<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, December 7</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.2859 up 0.0063</u></div>
<div><u>Chicago corn closed slightly lower.</u></div>
<div><u><br>
</u></div>
<div><u> MAR18 HI 3.53 1/2 DEC18 HI 3.86</u></div>
<div><u> LOW 3.50 1/2 LOW 3.83 1/4</u></div>
<div><u> CLOSE3.51 1/2 Down 1 1/4 CLOSE 3.84 Down 1 1/4</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+MAY18</u></div>
<div><u>CK Low 0.55 4.07 160.03 0.65 4.49 176.76</u></div>
<div><u>CK High 0.65 4.17 163.97 0.70 4.54 178.73</u></div>
<div><u>CK Avg 0.57 -0.34 4.08 160.69 0.66 -0.33 4.50 177.09</u></div>
<div><u>Essex Cty 0.55 4.07 160.03 0.65 4.49 176.76</u></div>
<div><u>Mdsx Low 0.55 4.07 160.03 0.65 4.49 176.76</u></div>
<div><u>Mdsx High 0.55 4.07 160.03 0.65 4.49 176.76</u></div>
<div><u>Mdsx Avg 0.55 -0.35 4.07 160.03 0.65 -0.34 4.49 176.76</u></div>
<div><u>Hensall 0.58 4.09 161.02 0.65 4.49 176.76</u></div>
<div><u>Bruce 0.60 4.12 162.00 0.65 4.49 176.76</u></div>
<div><u>Putnam 0.55 4.07 160.03 0.65 4.49 176.76</u></div>
<div><u>Burford 0.60 4.12 162.00 0.70 4.54 178.73</u></div>
<div><u>Port Perry 0.60 4.12 162.00 0.70 4.54 178.73</u></div>
<div><u>Norfolk 0.55 4.07 160.03 0.65 4.49 176.76</u></div>
<div><u>Palmerston 0.60 4.12 162.00 0.65 4.49 176.76</u></div>
<div><u>Varna 0.60 4.12 162.00 0.65 4.49 176.76</u></div>
<div><u>Trenton 0.65 4.17 163.97 0.85 4.69 184.64</u></div>
<div><u>Winchester 1.03 4.55 178.93 0.87 4.71 185.42</u></div>
<div><u>North Gower 0.97 4.49 176.57 0.82 4.66 183.46</u></div>
<div><u>Huron FOB 0.75 4.27 167.91 0.75 4.59 180.70</u></div>
<div><u>Kent FOB 0.70 4.22 165.94 0.65 4.49 176.76</u></div>
<div><u>Lamb FOB 0.70 4.22 165.94 0.65 4.49 176.76</u></div>
<div><u>Mdsx FOB 0.60 0.65N/A N/A 4.12 162.00 0.65 4.49 176.76</u></div>
<div><u>FOB SW Que 1.29 4.81 189.16N/A</u></div>
<div><u>Track 1.10 4.62 181.68N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A 0.88 0.93 0.93 0.85 4.69 184.64</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A N/A N/A</u></div>
<div><u>Aylmer-Eth N/A 0.90 0.90 0.90 0.80 4.64 182.67</u></div>
<div><u>Sarn-Eth 0.95 0.95 0.95N/A 4.47 175.78N/A</u></div>
<div><u>Kawartha N/A N/A N/A N/A N/A</u></div>
<div><u>London-Ing N/A N/A N/A N/A 0.90 4.74 186.61</u></div>
<div><u>Pt.Colb-Ing N/A N/A N/A N/A N/A</u></div>
<div><u>Cardnl-Ing N/A N/A N/A 1.35 1.05 4.89 192.51</u></div>
<div><u>W O Feed 1.20 4.72 185.78</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.17 4.69 184.44</u></div>
<div><u>Toledo El. -0.15 3.36 132.30 -0.26 3.58 141.08</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 0.60 4.11 1/2</u></div>
<div><u>HI SD CRN 0.65 4.16 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 1.2859 up 0.0063</u></div>
<div><u>Chicago soybeans closed slightly lower.</u></div>
<div><u><br>
</u></div>
<div><u> JAN18 HI 10.06 1/2 NOV18 HI 10.16 3/4</u></div>
<div><u> LOW 9.88 1/4 LOW 10.02</u></div>
<div><u> CLOSE9.92 Down 10 3/4 CLOSE 10.05 1/4 Down 9 1/4</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+MAR1+MAR18</u></div>
<div><u>CK Low 1.95 11.87 436.151.90 11.95 439.18</u></div>
<div><u>CK High 2.06 11.98 440.192.05 12.10 444.69</u></div>
<div><u>CK Average 1.99 -0.6611.91 437.741.98 -0.6712.04 442.24</u></div>
<div><u>Essex Cty 1.95 11.87 436.151.95 12.00 441.02</u></div>
<div><u>Mdsx Low 1.95 11.87 436.151.95 12.00 441.02</u></div>
<div><u>Mdsx High 2.06 11.98 440.192.00 12.05 442.85</u></div>
<div><u>Mdsx Average 2.01 -0.6511.93 438.171.98 -0.6712.03 441.93</u></div>
<div><u>Hensall 1.98 11.90 437.072.03 12.08 443.77</u></div>
<div><u>Bruce 1.95 11.87 436.151.95 12.00 441.02</u></div>
<div><u>Putnam 2.00 11.92 437.992.05 12.10 444.69</u></div>
<div><u>Burford 2.13 12.05 442.762.02 12.07 443.59</u></div>
<div><u>Port Perry 2.03 11.95 439.091.92 11.97 439.91</u></div>
<div><u>Norfolk 2.05 11.97 439.822.10 12.15 446.53</u></div>
<div><u>Palmerston 2.05 11.97 439.822.00 12.05 442.85</u></div>
<div><u>Varna 1.90 11.82 434.311.95 12.00 441.02</u></div>
<div><u>Trenton 1.90 11.82 434.311.95 12.00 441.02</u></div>
<div><u>Winchester 2.07 11.99 440.562.06 12.11 445.06</u></div>
<div><u>North Gower 1.80 11.72 430.641.80 11.85 435.50</u></div>
<div><u>Huron FOB 2.10 12.02 441.662.05 12.10 444.69</u></div>
<div><u>Kent FOB 2.00 11.92 437.991.95 12.00 441.02</u></div>
<div><u>Lambton FOB 2.05 11.97 439.822.20 12.25 450.20</u></div>
<div><u>Middlesex FOB2.17 2.23 2.08 2.14 12.09 444.232.07 12.12 445.43</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton 2.50 12.42 456.36 N/A</u></div>
<div><u>Prescott 2.08 12.00 440.922.19 12.24 449.83</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.28 9.64 354.10-0.38 9.67 355.23</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2859 up 0.0063</u></div>
<div><u>Chicago wheat closed slightly lower.</u></div>
<div><u>MAR18 HI 4.25 3/4 JUL18 HI 4.51 3/4</u></div>
<div><u> LOW 4.19 1/2 LOW 4.46 1/2</u></div>
<div><u> CLOSE 4.21 1/2 Down 3 3/4 CLOSE 4.49 Down 2 1/2</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly lower.</u></div>
<div><u>MAR18 HI 6.16 1/4 SEP18 HI 6.26 1/4</u></div>
<div><u> LOW 6.10 LOW 6.21 1/4</u></div>
<div><u> CLOSE 6.11 Down 2 3/4 CLOSE 6.22 Down 2</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 0.63 0.88 0.76 0.40</u></div>
<div><u>CAD $/bu 4.84 5.10 4.97 6.51</u></div>
<div><u>CAD $/tonne 177.90 187.34 182.62 239.08</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 0.75 N/A N/A N/A 0.70 N/A</u></div>
<div><u>London 0.89 0.89 0.89 N/A 0.88 0.82 0.69 N/A</u></div>
<div><u>Hensall 0.85 N/A 0.85 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 0.85 0.85 0.85 0.10 0.95 0.75 0.75 0.30</u></div>
<div><u>Essex N/A N/A 0.65 N/A N/A N/A 0.71 N/A</u></div>
<div><u>Norwich 0.85 N/A 0.85 N/A 0.95 N/A 0.75 N/A</u></div>
<div><u>Port Hope N/A 1.00 0.85 N/A N/A 0.75 0.75 N/A</u></div>
<div><u>Kent Bridge 0.85 N/A 0.85 N/A 0.95 N/A 0.75 N/A</u></div>
<div><u>Chatham N/A N/A 0.75 N/A N/A N/A 0.70 N/A</u></div>
<div><u>Brigden N/A N/A 0.75 N/A N/A N/A 0.70 N/A</u></div>
<div><u>Palmerston N/A 0.80 0.75 0.25 N/A 0.65 0.70 0.35</u></div>
<div><u>Varna 1.05 0.75 0.75 N/A 0.90 0.70 0.70 N/A</u></div>
<div><u>Mitchell 0.85 0.85 0.85 N/A 0.95 0.75 0.75 N/A</u></div>
<div><u>Thornton N/A N/A N/A 0.22 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 0.60 0.60 0.30 N/A 0.95 0.85 0.20</u></div>
<div><u>W O Feed 1.45</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 1.33 N/A N/A N/A 1.27 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 4.22US 5.42CA 4.34US 5.57CA</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 0.88 0.88 0.82 0.35</u></div>
<div><u>CAD $/bu 5.37 5.37 5.31 6.57</u></div>
<div><u>CAD $/tonne 197.43 197.43 195.07 241.25</u></div>
<div><u><br>
</u></div>
<div><u>(C)-Basis over the Chicago Board of Trade futures</u></div>
<div><u>(M)-Basis over the Minneapolis Grain Exchange</u></div>
<div><u><br>
</u></div>
<div><u>FEED GRAINS</u></div>
<div><u>FOB Hm Soymeal 477.53</u></div>
<div><u>DDG's FOB Srn & Aylm 165.00 - 170.00</u></div>
<div><u><br>
</u></div>
<u></u><br>
</div>
<div><br>
</div>
<div>Wednesday, December 6, 2017 Closing Prices </div>
<div>COMMODITY<span style="white-space:pre"> </span>PERIOD<span style="white-space:pre">
</span>PRICE<span style="white-space:pre"> </span>WEEKLY MOVEMENT</div>
<div>Corn CBOT<span style="white-space:pre"> </span>Mar<span style="white-space:pre">
</span>3.52<span style="white-space:pre"> </span>$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>Jan<span style="white-space:pre">
</span>10.03<span style="white-space:pre"> </span>$B",(B<span style="white-space:pre">
</span>10<span style="white-space:pre"> </span>cents</div>
<div>Wheat CBOT<span style="white-space:pre"> </span>Mar<span style="white-space:pre">
</span>4.25<span style="white-space:pre"> </span>$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>Mar<span style="white-space:pre">
</span>6.14<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre"> </span>
09<span style="white-space:pre"> </span>cents</div>
<div>Wheat Kansas<span style="white-space:pre"> </span>Mar<span style="white-space:pre">
</span>4.23<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre"> </span>
06<span style="white-space:pre"> </span>cents</div>
<div>Chicago Oats<span style="white-space:pre"> </span>Mar<span style="white-space:pre">
</span>2.48<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre"> </span>
15<span style="white-space:pre"> </span>cents </div>
<div><span style="white-space:pre"></span></div>
<div>Canadian $<span style="white-space:pre"> </span>Dec<span style="white-space:pre">
</span>.7835<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre">
</span>.50<span style="white-space:pre"> </span>points</div>
<div><br>
</div>
<div>Corn: </div>
<div>We have pretty much ended the week where we left off last week. Markets are still searching for the ever elusive bottom; and with the holidays fast approaching, and the last trading day for the December contract, I am asking Santa for a market reversal.
I wonder if I was a good boy or if maybe we will find a lump of coal in that stocking. </div>
<div>There is nothing much to report except that we are still finding good support at these levels at $3.35. The question is whether we close below the $3.50 mark on the March contract, and see a sharp selloff, or maybe just take out the stops and give us a
reversal candle. </div>
<div>Initial support is still seen at the $3.30 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>Although today, December 6 ended up with a minor loss, I am quite pleased at the chart formation and the indicators. On the week, we gained 10 cents a bushel on the January contract; but more important is the technical as we have broken the four-year-old
down trend line and have two red buy signals. All we need now is an excuse to start moving higher. </div>
<div>A close above $10.25 on the January contract could set us up for some good upside over the next couple of months. Until we get a clear indication, we have to remain neutral. </div>
<div>Short term indicators are neutral with a bullish bias, and the weekly indicators favour a bullish tone into the new year. However, the primary trend is still down.</div>
<div><br>
</div>
<div><br>
</div>
<div><br>
</div>
<div><br>
</div>
<div>Wheat: </div>
<div><br>
</div>
<div>Wheat once again tested the $4.20 support line on the March contract but the expiring December contract seems to be under pressure. This could cause some heavy selling pressure on that contract and the March may follow suit. </div>
<div>Good support is seen at $4.20 on the March futures chart, and as long as we don$B!G(Bt close below there, we could still escape the selloff if the December expiring contract drops hard in its last days. Overhead resistance is still viewed at $4.50. </div>
<div>Indicators are showing oversold conditions. Short term indicators are still negative and the primary trend is still down.</div>
<div><br>
</div>
<div><br>
</div>
<div><br>
</div>
<div>Cash Grain prices as of the close, December 6, are as follows:</div>
<div>SWW @ $178.23/MT ($4.85/bu), HRW @ $187.61/MT ($5.11/bu), </div>
<div> HRS @ $238.74/MT ($6.50/bu), SRW @ $182.92/MT ($4.98/bu). </div>
<div><br>
</div>
<div>Marty Hibbs, Grain Farmers of Ontario </div>
<div><br>
</div>
<div><br>
</div>
<br>
<p></p>
<p style="margin-top:0;margin-bottom:0"><span style="background-color: rgb(253, 253, 253); color: rgb(51, 51, 51); font-family: "Courier New", monospace; font-size: 10pt;"></p>
<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>
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background:#FDFDFD"> </span></span><span style="font-size:10.0pt;
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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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