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<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Fri, December 22</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.2705 up 0.0000</u></div>
<div><u>Chicago corn closed slightly higher.</u></div>
<div><u><br>
</u></div>
<div><u> MAR18 HI 3.52 1/2 DEC18 HI 3.84 3/4</u></div>
<div><u> LOW 3.50 1/2 LOW 3.82 3/4</u></div>
<div><u> CLOSE3.52 Up 3/4 CLOSE 3.84 1/2 Up 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+MAY18</u></div>
<div><u>CK Low 0.60 4.12 162.20 0.65 4.50 176.96</u></div>
<div><u>CK High 0.65 4.17 164.17 0.70 4.55 178.93</u></div>
<div><u>CK Avg 0.61 -0.27 4.13 162.53 0.66 -0.30 4.50 177.29</u></div>
<div><u>Essex Cty 0.60 4.12 162.20 0.65 4.50 176.96</u></div>
<div><u>Mdsx Low 0.60 4.12 162.20 0.65 4.50 176.96</u></div>
<div><u>Mdsx High 0.65 4.17 164.17 0.65 4.50 176.96</u></div>
<div><u>Mdsx Avg 0.63 -0.26 4.15 163.18 0.65 -0.31 4.50 176.96</u></div>
<div><u>Hensall 0.65 4.17 164.17 0.65 4.50 176.96</u></div>
<div><u>Bruce 0.65 4.17 164.17 0.65 4.50 176.96</u></div>
<div><u>Putnam 0.55 4.07 160.23 0.65 4.50 176.96</u></div>
<div><u>Burford 0.65 4.17 164.17 0.70 4.55 178.93</u></div>
<div><u>Port Perry 0.60 4.12 162.20 0.70 4.55 178.93</u></div>
<div><u>Norfolk 0.60 4.12 162.20 0.65 4.50 176.96</u></div>
<div><u>Palmerston 0.65 4.17 164.17 0.65 4.50 176.96</u></div>
<div><u>Varna 0.65 4.17 164.17 0.65 4.50 176.96</u></div>
<div><u>Trenton 0.65 4.17 164.17 0.80 4.65 182.87</u></div>
<div><u>Winchester 1.05 4.57 179.91 0.90 4.75 186.80</u></div>
<div><u>North Gower 0.99 4.51 177.55 0.84 4.69 184.44</u></div>
<div><u>Huron FOB 0.80 4.32 170.07 0.75 4.60 180.90</u></div>
<div><u>Kent FOB 0.75 4.27 168.10 0.75 4.60 180.90</u></div>
<div><u>Lamb FOB 0.80 4.32 170.07 0.65 4.50 176.96</u></div>
<div><u>Mdsx FOB 0.60 0.65N/A N/A 4.12 162.20 0.65 4.50 176.96</u></div>
<div><u>FOB SW Que 1.58 5.10 200.78N/A</u></div>
<div><u>Track 1.08 4.60 180.90N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A 0.92 0.93 0.93 0.85 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 1.00 1.00 1.00 0.85 4.70 184.83</u></div>
<div><u>Sarn-Eth 0.90 0.95 0.95 0.95 4.42 174.01N/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 4.75 186.80</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 4.90 192.71</u></div>
<div><u>W O Feed 1.22 4.74 186.76</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.27 4.79 188.57</u></div>
<div><u>Toledo El. -0.04 3.48 137.08 -0.25 3.59 141.37</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 0.62 1/2 4.14 1/2</u></div>
<div><u>HI SD CRN 0.65 4.17</u></div>
<div><u>*Wet Bid</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2705 up 0.0000</u></div>
<div><u>Chicago soybeans closed slightly higher.</u></div>
<div><u><br>
</u></div>
<div><u> JAN18 HI 9.52 NOV18 HI 9.75 1/2</u></div>
<div><u> LOW 9.46 1/2 LOW 9.70</u></div>
<div><u> CLOSE9.49 1/2 Up 3/4 CLOSE 9.73 Up 1 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 +JAN1+MAR1+MAR18</u></div>
<div><u>CK Low 1.87 11.37 417.591.87 11.60 426.23</u></div>
<div><u>CK High 2.10 11.60 426.042.00 11.73 431.00</u></div>
<div><u>CK Average 1.95 -0.4911.44 420.351.93 -0.5511.66 428.37</u></div>
<div><u>Essex Cty 2.05 11.55 424.211.95 11.68 429.17</u></div>
<div><u>Mdsx Low 1.87 11.37 417.591.87 11.60 426.23</u></div>
<div><u>Mdsx High 1.95 11.45 420.532.00 11.73 431.00</u></div>
<div><u>Mdsx Average 1.91 -0.5211.41 419.061.94 -0.5411.67 428.62</u></div>
<div><u>Hensall 1.95 11.45 420.532.00 11.73 431.00</u></div>
<div><u>Bruce 1.95 11.45 420.531.95 11.68 429.17</u></div>
<div><u>Putnam 2.00 11.50 422.372.05 11.78 432.84</u></div>
<div><u>Burford 1.94 11.44 420.161.94 11.67 428.80</u></div>
<div><u>Port Perry 1.84 11.34 416.491.84 11.57 425.12</u></div>
<div><u>Norfolk 1.95 11.45 420.531.95 11.68 429.17</u></div>
<div><u>Palmerston 2.05 11.55 424.212.00 11.73 431.00</u></div>
<div><u>Varna 1.95 11.45 420.532.00 11.73 431.00</u></div>
<div><u>Trenton 1.90 11.40 418.691.95 11.68 429.17</u></div>
<div><u>Winchester 1.90 11.40 418.691.90 11.63 427.33</u></div>
<div><u>North Gower 1.98 11.48 421.631.92 11.65 428.06</u></div>
<div><u>Huron FOB 2.05 11.55 424.212.10 11.83 434.68</u></div>
<div><u>Kent FOB 2.00 11.50 422.371.90 11.63 427.33</u></div>
<div><u>Lambton FOB 2.00 11.50 422.372.05 11.78 432.84</u></div>
<div><u>Middlesex FOB1.98 2.05 2.00 2.07 11.48 421.632.02 11.75 431.74</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton 2.27 11.77 432.29 N/A</u></div>
<div><u>Prescott 2.16 11.66 428.252.34 12.07 443.50</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.25 9.24 339.55-0.38 9.35 343.52</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2705 up 0.0000</u></div>
<div><u>Chicago wheat closed slightly lower.</u></div>
<div><u>MAR18 HI 4.29 JUL18 HI 4.53 1/2</u></div>
<div><u> LOW 4.24 1/4 LOW 4.48 3/4</u></div>
<div><u> CLOSE 4.24 3/4 Down 2 1/4 CLOSE 4.50 Down 1 3/4</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly to moderately lower.</u></div>
<div><u>MAR18 HI 6.22 1/4 SEP18 HI 6.29</u></div>
<div><u> LOW 6.11 LOW 6.21 3/4</u></div>
<div><u> CLOSE 6.11 3/4 Down 5 1/4 CLOSE 6.22 Down 4 1/2</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 0.83 0.96 0.83 0.32</u></div>
<div><u>CAD $/bu 5.08 5.21 5.08 6.44</u></div>
<div><u>CAD $/tonne 186.61 191.28 186.61 236.56</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 0.80 N/A N/A N/A 0.75 N/A</u></div>
<div><u>London 0.84 1.16 0.84 N/A 0.91 0.84 0.71 N/A</u></div>
<div><u>Hensall 0.90 N/A 0.80 N/A 1.00 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 0.80 0.80 0.10 1.00 0.75 0.75 0.30</u></div>
<div><u>Essex N/A N/A 0.67 N/A N/A N/A 0.69 N/A</u></div>
<div><u>Norwich 0.90 N/A 0.80 N/A 1.00 N/A 0.75 N/A</u></div>
<div><u>Port Hope N/A 1.00 0.80 N/A N/A 0.75 0.75 N/A</u></div>
<div><u>Kent Bridge 0.90 N/A 0.80 N/A 1.00 N/A 0.75 N/A</u></div>
<div><u>Chatham N/A N/A 0.80 N/A N/A N/A 0.75 N/A</u></div>
<div><u>Brigden N/A N/A 0.80 N/A N/A N/A 0.75 N/A</u></div>
<div><u>Palmerston N/A 0.80 0.80 0.25 N/A 0.75 0.80 0.35</u></div>
<div><u>Varna 1.10 0.80 0.80 N/A 0.95 0.75 0.75 N/A</u></div>
<div><u>Mitchell 0.90 0.80 0.80 N/A 1.00 0.75 0.75 N/A</u></div>
<div><u>Thornton N/A N/A N/A 0.25 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 0.60 0.60 0.30 N/A 0.91 0.81 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 1.28 N/A N/A N/A 1.22 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 4.07US 5.17CA 4.35US 5.52CA</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 0.83 0.83 0.77 0.28</u></div>
<div><u>CAD $/bu 5.33 5.33 5.27 6.50</u></div>
<div><u>CAD $/tonne 195.99 195.99 193.66 238.92</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 458.24</u></div>
<div><u>DDG's FOB Srn & Aylm 185.00 - 190.00</u></div>
<div><u><br>
</u></div>
<div><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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