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<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Fri, December 29</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.252 down 0.0044</u></div>
<div><u>Chicago corn closed slightly lower.</u></div>
<div><u><br>
</u></div>
<div><u> MAR18 HI 3.51 1/2 DEC18 HI 3.84 1/2</u></div>
<div><u> LOW 3.50 1/4 LOW 3.83 1/2</u></div>
<div><u> CLOSE3.50 3/4 Down 1 1/4 CLOSE 3.84 Down 1 1/2</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 4.06 159.74 0.60 4.44 174.80</u></div>
<div><u>CK High 0.65 4.16 163.67 0.70 4.54 178.73</u></div>
<div><u>CK Avg 0.58 -0.25 4.08 160.72 0.63 -0.27 4.47 175.78</u></div>
<div><u>Essex Cty 0.60 4.11 161.71 0.65 4.49 176.76</u></div>
<div><u>Mdsx Low 0.55 4.06 159.74 0.60 4.44 174.80</u></div>
<div><u>Mdsx High 0.60 4.11 161.71 0.60 4.44 174.80</u></div>
<div><u>Mdsx Avg 0.58 -0.25 4.08 160.72 0.60 -0.29 4.44 174.80</u></div>
<div><u>Hensall 0.60 4.11 161.71 0.60 4.44 174.80</u></div>
<div><u>Bruce 0.65 4.16 163.67 0.65 4.49 176.76</u></div>
<div><u>Putnam 0.60 4.11 161.71 0.60 4.44 174.80</u></div>
<div><u>Burford 0.60 4.11 161.71 0.65 4.49 176.76</u></div>
<div><u>Port Perry 0.55 4.06 159.74 0.65 4.49 176.76</u></div>
<div><u>Norfolk 0.55 4.06 159.74 0.60 4.44 174.80</u></div>
<div><u>Palmerston 0.65 4.16 163.67 0.65 4.49 176.76</u></div>
<div><u>Varna 0.60 4.11 161.71 0.60 4.44 174.80</u></div>
<div><u>Trenton 0.65 4.16 163.67 0.80 4.64 182.67</u></div>
<div><u>Winchester 1.05 4.56 179.42 0.90 4.74 186.61</u></div>
<div><u>North Gower 0.97 4.48 176.27 0.85 4.69 184.64</u></div>
<div><u>Huron FOB 0.85 4.36 171.55 0.75 4.59 180.70</u></div>
<div><u>Kent FOB 0.75 4.26 167.61 0.70 4.54 178.73</u></div>
<div><u>Lamb FOB 0.80 4.31 169.58 0.65 4.49 176.76</u></div>
<div><u>Mdsx FOB 0.60 0.60 0.65N/A 4.11 161.71 0.65 4.49 176.76</u></div>
<div><u>FOB SW Que 1.50 5.01 197.14N/A</u></div>
<div><u>Track 1.08 4.58 180.41N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A 0.98 1.03 1.00 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 0.95 0.95 0.95 0.85 4.69 184.64</u></div>
<div><u>Sarn-Eth 0.90 0.90 0.95 0.95 4.41 173.52N/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 1.21 4.72 185.72</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.19 4.70 184.93</u></div>
<div><u>Toledo El. -0.04 3.47 136.61 -0.25 3.59 141.32</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 0.60 4.10 3/4</u></div>
<div><u>HI SD CRN 0.65 4.15 3/4</u></div>
<div><u>*Wet Bid</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.252 down 0.0044</u></div>
<div><u>Chicago soybeans closed slightly higher.</u></div>
<div><u><br>
</u></div>
<div><u> MAR18 HI 9.63 1/2 NOV18 HI 9.77</u></div>
<div><u> LOW 9.54 3/4 LOW 9.70</u></div>
<div><u> CLOSE9.61 3/4 Up 5 CLOSE 9.75 3/4 Up 3</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 +MAR1+MAR1+MAR18</u></div>
<div><u>CK Low 1.60 11.22 412.171.70 11.46 420.99</u></div>
<div><u>CK High 1.75 11.37 417.681.90 11.66 428.34</u></div>
<div><u>CK Average 1.68 -0.5911.30 415.171.78 -0.5411.54 424.05</u></div>
<div><u>Essex Cty 1.70 11.32 415.851.75 11.51 422.83</u></div>
<div><u>Mdsx Low 1.64 11.26 413.641.70 11.46 420.99</u></div>
<div><u>Mdsx High 1.70 11.32 415.851.90 11.66 428.34</u></div>
<div><u>Mdsx Average 1.67 -0.6011.29 414.741.80 -0.5311.56 424.67</u></div>
<div><u>Hensall 1.68 11.29 414.931.85 11.61 426.50</u></div>
<div><u>Bruce 1.70 11.32 415.851.85 11.61 426.50</u></div>
<div><u>Putnam 1.70 11.32 415.851.85 11.61 426.50</u></div>
<div><u>Burford 1.71 11.33 416.211.77 11.53 423.56</u></div>
<div><u>Port Perry 1.64 11.26 413.641.70 11.46 420.99</u></div>
<div><u>Norfolk 1.65 11.27 414.011.80 11.56 424.67</u></div>
<div><u>Palmerston 1.75 11.37 417.681.75 11.51 422.83</u></div>
<div><u>Varna 1.60 11.22 412.171.80 11.56 424.67</u></div>
<div><u>Trenton 1.70 11.32 415.851.85 11.61 426.50</u></div>
<div><u>Winchester 1.80 11.42 419.521.80 11.56 424.67</u></div>
<div><u>North Gower 1.80 11.42 419.521.82 11.58 425.40</u></div>
<div><u>Huron FOB 1.75 11.37 417.681.80 11.56 424.67</u></div>
<div><u>Kent FOB 1.70 11.32 415.851.75 11.51 422.83</u></div>
<div><u>Lambton FOB 1.75 11.37 417.681.90 11.66 428.34</u></div>
<div><u>Middlesex FOB1.75 1.75 1.79 1.86 11.37 417.681.85 11.61 426.50</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton N/A 2.15 11.91 437.53</u></div>
<div><u>Prescott 1.98 11.60 426.142.10 11.86 435.69</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.34 9.28 340.96-0.38 9.38 344.73</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.252 down 0.0044</u></div>
<div><u>Chicago wheat closed slightly lower.</u></div>
<div><u>MAR18 HI 4.28 JUL18 HI 4.54 1/2</u></div>
<div><u> LOW 4.24 LOW 4.50 1/2</u></div>
<div><u> CLOSE 4.27 Down 3/4 CLOSE 4.53 1/4 Down 1</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly lower.</u></div>
<div><u>MAR18 HI 6.19 1/4 SEP18 HI 6.27 3/4</u></div>
<div><u> LOW 6.13 1/4 LOW 6.22 1/4</u></div>
<div><u> CLOSE 6.14 3/4 Down 4 1/4 CLOSE 6.23 3/4 Down 3 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 0.76 0.89 0.76 0.23</u></div>
<div><u>CAD $/bu 5.03 5.16 5.03 6.38</u></div>
<div><u>CAD $/tonne 184.94 189.54 184.94 234.51</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 0.89 1.08 0.82 N/A 0.94 0.75 0.69 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 0.61 N/A N/A N/A 0.65 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 0.70 N/A</u></div>
<div><u>Brigden N/A N/A 0.80 N/A N/A N/A 0.70 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 0.85 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 0.26 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 0.75 0.70 0.25 N/A 0.83 0.73 0.15</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 1.20 N/A N/A N/A 1.14 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 4.17US 5.22CA 4.38US 5.49CA</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 0.77 0.77 0.70 0.19</u></div>
<div><u>CAD $/bu 5.30 5.30 5.24 6.43</u></div>
<div><u>CAD $/tonne 194.69 194.69 192.39 236.32</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 451.73</u></div>
<div><u>DDG's FOB Srn & Aylm 185.00 - 200.00</u></div>
<div><u><br>
</u></div>
<div>---</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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