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<div><u><span style="font-size: 10pt;">FA</span><span style="font-size: 10pt;">RM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Fri, January 12</span><br>
<span style="font-size: 10pt;">(All Bases in CAD)</span><br>
<span style="font-size: 10pt;">Exchange rate was 1.2477 down 0.0040</span><br>
<span style="font-size: 10pt;">Chicago corn closed slightly lower.</span><br>
<br>
<span style="font-size: 10pt;"> MAR18 HI 3.50 DEC18 HI 3.83 1/2</span><br>
<span style="font-size: 10pt;"> LOW 3.45 1/2 LOW 3.79 3/4</span><br>
<span style="font-size: 10pt;"> CLOSE3.46 1/4 Down 2 1/2 CLOSE 3.80 1/2 Down 2 1/4</span><br>
<br>
<span style="font-size: 10pt;"> OLD CROP BASIS NEW CROP BASIS</span><br>
<span style="font-size: 10pt;">Location Spot 1mt 2mt 3mt U.S. $/bu $/mt Cntrct U.S. $/bu $/mt</span><br>
<span style="font-size: 10pt;">ELEVATORS +MAR18+MAY18+MAY18</span><br>
<span style="font-size: 10pt;">CK Low 0.55 4.01 157.97 0.55 4.36 171.45</span><br>
<span style="font-size: 10pt;">CK High 0.65 4.11 161.90 0.70 4.51 177.35</span><br>
<span style="font-size: 10pt;">CK Avg 0.57 -0.23 4.03 158.62 0.59 -0.28 4.40 173.09</span><br>
<span style="font-size: 10pt;">Essex Cty 0.55 4.01 157.97 0.65 4.46 175.39</span><br>
<span style="font-size: 10pt;">Mdsx Low 0.55 4.01 157.97 0.55 4.36 171.45</span><br>
<span style="font-size: 10pt;">Mdsx High 0.55 4.01 157.97 0.55 4.36 171.45</span><br>
<span style="font-size: 10pt;">Mdsx Avg 0.55 -0.25 4.01 157.97 0.55 -0.31 4.36 171.45</span><br>
<span style="font-size: 10pt;">Hensall 0.58 4.04 158.95 0.57 4.37 172.04</span><br>
<span style="font-size: 10pt;">Bruce 0.55 4.01 157.97 0.55 4.36 171.45</span><br>
<span style="font-size: 10pt;">Putnam 0.60 4.06 159.93 0.60 4.41 173.42</span><br>
<span style="font-size: 10pt;">Burford 0.60 4.06 159.93 0.60 4.41 173.42</span><br>
<span style="font-size: 10pt;">Port Perry 0.60 4.06 159.93 0.60 4.41 173.42</span><br>
<span style="font-size: 10pt;">Norfolk 0.55 4.01 157.97 0.55 4.36 171.45</span><br>
<span style="font-size: 10pt;">Palmerston 0.60 4.06 159.93 0.65 4.46 175.39</span><br>
<span style="font-size: 10pt;">Varna 0.60 4.06 159.93 0.55 4.36 171.45</span><br>
<span style="font-size: 10pt;">Trenton 0.65 4.11 161.90 0.80 4.61 181.29</span><br>
<span style="font-size: 10pt;">Winchester 0.91 4.37 172.14 0.85 4.66 183.26</span><br>
<span style="font-size: 10pt;">North Gower 0.92 4.38 172.53 0.82 4.63 182.08</span><br>
<span style="font-size: 10pt;">Huron FOB 0.82 4.28 168.59 0.68 4.49 176.57</span><br>
<span style="font-size: 10pt;">Kent FOB 0.75 4.21 165.84 0.65 4.46 175.39</span><br>
<span style="font-size: 10pt;">Lamb FOB 0.75 4.21 165.84 0.65 4.46 175.39</span><br>
<span style="font-size: 10pt;">Mdsx FOB 0.60 0.65 0.60N/A 4.06 159.93 0.60 4.41 173.42</span><br>
<span style="font-size: 10pt;">FOB SW Que 1.48 4.94 194.58N/A</span><br>
<span style="font-size: 10pt;">Track 1.08 4.54 178.63N/A</span><br>
<span style="font-size: 10pt;">PROCESSORS</span><br>
<span style="font-size: 10pt;">Chat-Eth 0.90 0.95 0.92 0.97 4.36 171.74 0.80 4.61 181.29</span><br>
<span style="font-size: 10pt;">Jhnstwn-Eth N/A N/A N/A N/A N/A</span><br>
<span style="font-size: 10pt;">Aylmer-Eth 0.85 0.85 0.90 0.85 4.31 169.78 N/A</span><br>
<span style="font-size: 10pt;">Sarn-Eth 0.90 0.90 0.90N/A 4.36 171.74N/A</span><br>
<span style="font-size: 10pt;">Kawartha N/A N/A N/A N/A N/A</span><br>
<span style="font-size: 10pt;">London-Ing N/A N/A N/A 1.05 0.85 4.66 183.26</span><br>
<span style="font-size: 10pt;">Pt.Colb-Ing N/A N/A N/A N/A N/A</span><br>
<span style="font-size: 10pt;">Cardnl-Ing N/A 1.40 1.40N/A 1.05 4.86 191.13</span><br>
<span style="font-size: 10pt;">W O Feed 1.15 4.61 181.43</span><br>
<br>
<span style="font-size: 10pt;">US Rep 1.17 4.63 182.37</span><br>
<span style="font-size: 10pt;">Toledo El. -0.04 3.43 134.84 -0.25 3.56 139.99</span><br>
<br>
<br>
<span style="font-size: 10pt;">MID SD CRN 0.60 4.06 1/4</span><br>
<span style="font-size: 10pt;">HI SD CRN 0.65 4.11 1/4</span><br>
<span style="font-size: 10pt;">*Wet Bid</span><br>
<br>
<br>
<span style="font-size: 10pt;">Exchange rate was 1.2477 down 0.0040</span><br>
<span style="font-size: 10pt;">Chicago soybeans closed slightly to moderately higher.</span><br>
<br>
<span style="font-size: 10pt;"> MAR18 HI 9.62 3/4 NOV18 HI 9.84 3/4</span><br>
<span style="font-size: 10pt;"> LOW 9.44 1/2 LOW 9.67 1/2</span><br>
<span style="font-size: 10pt;"> CLOSE9.60 1/2 Up 10 1/2 CLOSE 9.83 1/2 Up 12</span><br>
<br>
<span style="font-size: 10pt;"> OLD CROP NEW CROP</span><br>
<span style="font-size: 10pt;">Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt</span><br>
<span style="font-size: 10pt;">ELEVATORS +MAR1+MAR1+MAY18</span><br>
<span style="font-size: 10pt;">CK Low 1.70 11.31 415.391.70 11.54 423.84</span><br>
<span style="font-size: 10pt;">CK High 1.75 11.36 417.221.80 11.64 427.51</span><br>
<span style="font-size: 10pt;">CK Average 1.73 -0.5211.33 416.371.74 -0.5411.58 425.37</span><br>
<span style="font-size: 10pt;">Essex Cty 1.70 11.31 415.391.70 11.54 423.84</span><br>
<span style="font-size: 10pt;">Mdsx Low 1.70 11.31 415.391.70 11.54 423.84</span><br>
<span style="font-size: 10pt;">Mdsx High 1.71 11.32 415.761.80 11.64 427.51</span><br>
<span style="font-size: 10pt;">Mdsx Average 1.71 -0.5411.31 415.571.75 -0.5411.59 425.68</span><br>
<span style="font-size: 10pt;">Hensall 1.68 11.28 414.471.80 11.64 427.51</span><br>
<span style="font-size: 10pt;">Bruce 1.70 11.31 415.391.80 11.64 427.51</span><br>
<span style="font-size: 10pt;">Putnam 1.65 11.26 413.551.75 11.59 425.68</span><br>
<span style="font-size: 10pt;">Burford 1.78 11.39 418.331.77 11.61 426.41</span><br>
<span style="font-size: 10pt;">Port Perry 1.71 11.32 415.761.70 11.54 423.84</span><br>
<span style="font-size: 10pt;">Norfolk 1.70 11.31 415.391.80 11.64 427.51</span><br>
<span style="font-size: 10pt;">Palmerston 1.75 11.36 417.221.75 11.59 425.68</span><br>
<span style="font-size: 10pt;">Varna 1.65 11.26 413.551.80 11.64 427.51</span><br>
<span style="font-size: 10pt;">Trenton 1.75 11.36 417.221.80 11.64 427.51</span><br>
<span style="font-size: 10pt;">Winchester 1.76 11.37 417.591.75 11.59 425.68</span><br>
<span style="font-size: 10pt;">North Gower 1.63 11.24 412.821.63 11.47 421.27</span><br>
<span style="font-size: 10pt;">Huron FOB 1.75 11.36 417.221.90 11.74 431.19</span><br>
<span style="font-size: 10pt;">Kent FOB 1.85 11.46 420.901.75 11.59 425.68</span><br>
<span style="font-size: 10pt;">Lambton FOB 1.90 11.51 422.741.85 11.69 429.35</span><br>
<span style="font-size: 10pt;">Middlesex FOB1.82 1.90 1.90 1.85 11.43 419.801.78 11.62 426.78</span><br>
<br>
<br>
<span style="font-size: 10pt;">TRANSFER</span><br>
<span style="font-size: 10pt;">Hamilton N/A 2.15 11.99 440.37</span><br>
<span style="font-size: 10pt;">Prescott 1.82 11.43 419.802.03 11.87 435.96</span><br>
<br>
<span style="font-size: 10pt;">Toledo El. -0.24 9.37 344.21-0.37 9.46 347.64</span><br>
<br>
<br>
<span style="font-size: 10pt;">Exchange rate was 1.2477 down 0.0040</span><br>
<span style="font-size: 10pt;">Chicago wheat closed lower.</span><br>
<span style="font-size: 10pt;">MAR18 HI 4.36 JUL18 HI 4.60 3/4</span><br>
<span style="font-size: 10pt;"> LOW 4.18 3/4 LOW 4.45</span><br>
<span style="font-size: 10pt;"> CLOSE 4.20 1/2 Down 12 3/4 CLOSE 4.46 1/2 Down 12 1/4</span><br>
<br>
<span style="font-size: 10pt;">Minni wheat closed moderately lower to lower.</span><br>
<span style="font-size: 10pt;">MAR18 HI 6.30 SEP18 HI 6.29</span><br>
<span style="font-size: 10pt;"> LOW 6.12 LOW 6.20 1/4</span><br>
<span style="font-size: 10pt;"> CLOSE 6.12 3/4 Down 16 1/4 CLOSE 6.21 1/2 Down 8</span><br>
<br>
<span style="font-size: 10pt;">GFO Cash Wheat Prices - DEL Terminal</span><br>
<span style="font-size: 10pt;">Harvest 17 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)</span><br>
<span style="font-size: 10pt;">Basis 0.73 0.85 0.73 0.21</span><br>
<span style="font-size: 10pt;">CAD $/bu 4.93 5.06 4.93 6.33</span><br>
<span style="font-size: 10pt;">CAD $/tonne 181.30 185.88 181.30 232.76</span><br>
<br>
<br>
<span style="font-size: 10pt;">Direct MarkHarvest 2017 Harvest 2018</span><br>
<span style="font-size: 10pt;"> DELIVERED BASIS DELIVERED BASIS</span><br>
<span style="font-size: 10pt;">Location SWW(C) HRW(C) SRW(C) HRS(M) SWW(C) HRW(C) SRW(C) HRS(M)</span><br>
<span style="font-size: 10pt;">ELEVATORS</span><br>
<span style="font-size: 10pt;">Brgssvll N/A N/A 0.85 N/A N/A N/A 0.70 N/A</span><br>
<span style="font-size: 10pt;">London 0.76 1.01 0.85 0.76 0.89 1.20 0.83 N/A</span><br>
<span style="font-size: 10pt;">Hensall 0.95 N/A 0.85 N/A 0.95 N/A 0.70 N/A</span><br>
<span style="font-size: 10pt;">Trenton N/A N/A N/A N/A N/A N/A 0.85 N/A</span><br>
<span style="font-size: 10pt;">Bruce 0.95 0.85 0.85 0.10 0.95 0.70 0.70 0.30</span><br>
<span style="font-size: 10pt;">Essex N/A N/A N/A N/A N/A N/A 0.61 N/A</span><br>
<span style="font-size: 10pt;">Norwich 0.95 N/A 0.85 N/A 0.95 N/A 0.70 N/A</span><br>
<span style="font-size: 10pt;">Port Hope N/A N/A 0.80 N/A N/A 0.75 0.70 N/A</span><br>
<span style="font-size: 10pt;">Kent Bridge 0.95 N/A 0.85 N/A 0.95 N/A 0.70 N/A</span><br>
<span style="font-size: 10pt;">Chatham N/A N/A 0.85 N/A N/A N/A 0.70 N/A</span><br>
<span style="font-size: 10pt;">Brigden N/A N/A 0.85 N/A N/A N/A 0.70 N/A</span><br>
<span style="font-size: 10pt;">Palmerston N/A 0.80 0.80 0.25 N/A 0.75 0.80 0.35</span><br>
<span style="font-size: 10pt;">Varna 1.10 0.85 0.80 N/A 0.90 0.70 0.70 N/A</span><br>
<span style="font-size: 10pt;">Mitchell 0.95 0.85 0.85 N/A 0.95 0.70 0.70 N/A</span><br>
<span style="font-size: 10pt;">Thornton N/A N/A N/A 0.22 N/A N/A N/A N/A</span><br>
<span style="font-size: 10pt;">North Gower N/A 0.75 0.70 0.18 N/A 0.84 0.79 0.05</span><br>
<span style="font-size: 10pt;">W O Feed 1.41</span><br>
<br>
<br>
<span style="font-size: 10pt;">PROCESSORS</span><br>
<span style="font-size: 10pt;">Toledo FM N/A N/A 1.17 N/A N/A N/A 1.10 N/A</span><br>
<br>
<span style="font-size: 10pt;">Toledo El. 4.11US 5.12CA 4.32US 5.38CA</span><br>
<br>
<span style="font-size: 10pt;">GFO Contract Wheat Prices - DEL Terminal</span><br>
<span style="font-size: 10pt;">Harvest 18 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)</span><br>
<span style="font-size: 10pt;">Basis 0.72 0.72 0.66 0.16</span><br>
<span style="font-size: 10pt;">CAD $/bu 5.19 5.19 5.13 6.37</span><br>
<span style="font-size: 10pt;">CAD $/tonne 190.69 190.69 188.40 234.18</span><br>
<br>
<span style="font-size: 10pt;">(C)-Basis over the Chicago Board of Trade futures</span><br>
<span style="font-size: 10pt;">(M)-Basis over the Minneapolis Grain Exchange</span><br>
<br>
<span style="font-size: 10pt;">FEED GRAINS</span><br>
<span style="font-size: 10pt;">FOB Hm Soymeal 448.65</span><br>
<span style="font-size: 10pt;">DDG's FOB Srn & Aylm 215.00 - 230.00</span><br>
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<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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