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<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, January 17</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.2376 down 0.0047</u></div>
<div><u>Chicago corn closed slightly to moderately higher.</u></div>
<div><u><br>
</u></div>
<div><u> MAR18 HI 3.53 1/4 DEC18 HI 3.86 1/4</u></div>
<div><u> LOW 3.48 1/4 LOW 3.81 3/4</u></div>
<div><u> CLOSE3.53 Up 4 3/4 CLOSE 3.86 Up 3 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+MAY18+MAY18</u></div>
<div><u>CK Low 0.55 4.08 160.62 0.60 4.46 175.58</u></div>
<div><u>CK High 0.65 4.18 164.56 0.70 4.56 179.52</u></div>
<div><u>CK Avg 0.58 -0.21 4.11 161.93 0.63 -0.23 4.49 176.57</u></div>
<div><u>Essex Cty 0.55 4.08 160.62 0.65 4.51 177.55</u></div>
<div><u>Mdsx Low 0.55 4.08 160.62 0.60 4.46 175.58</u></div>
<div><u>Mdsx High 0.60 4.13 162.59 0.60 4.46 175.58</u></div>
<div><u>Mdsx Avg 0.58 -0.21 4.11 161.61 0.60 -0.25 4.46 175.58</u></div>
<div><u>Hensall 0.60 4.13 162.59 0.60 4.46 175.58</u></div>
<div><u>Bruce 0.55 4.08 160.62 0.55 4.41 173.61</u></div>
<div><u>Putnam 0.60 4.13 162.59 0.60 4.46 175.58</u></div>
<div><u>Burford 0.65 4.18 164.56 0.60 4.46 175.58</u></div>
<div><u>Port Perry 0.65 4.18 164.56 0.65 4.51 177.55</u></div>
<div><u>Norfolk 0.60 4.13 162.59 0.60 4.46 175.58</u></div>
<div><u>Palmerston 0.60 4.13 162.59 0.65 4.51 177.55</u></div>
<div><u>Varna 0.65 4.18 164.56 0.60 4.46 175.58</u></div>
<div><u>Trenton 0.65 4.18 164.56 0.75 4.61 181.49</u></div>
<div><u>Winchester 0.93 4.46 175.58 0.85 4.71 185.42</u></div>
<div><u>North Gower 0.90 4.43 174.40 0.80 4.66 183.46</u></div>
<div><u>Huron FOB 0.82 4.35 171.25 0.68 4.54 178.73</u></div>
<div><u>Kent FOB 0.82 4.35 171.25 0.65 4.51 177.55</u></div>
<div><u>Lamb FOB 0.80 4.33 170.46 0.65 4.51 177.55</u></div>
<div><u>Mdsx FOB 0.65 0.65 0.65N/A 4.18 164.56 0.60 4.46 175.58</u></div>
<div><u>FOB SW Que 1.55 5.08 199.99N/A</u></div>
<div><u>Track 1.06 4.59 180.70N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth 0.87 0.94 0.92 0.98 4.40 173.22 0.80 4.66 183.46</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A N/A N/A</u></div>
<div><u>Aylmer-Eth 0.85 0.85 0.85 0.80 4.38 172.43 N/A</u></div>
<div><u>Sarn-Eth 0.95 0.95 0.95N/A 4.48 176.37N/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 1.05 0.90 4.76 187.39</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 N/A 1.05 4.91 193.30</u></div>
<div><u>W O Feed 1.15 4.68 184.09</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.17 4.70 185.03</u></div>
<div><u>Toledo El. -0.04 3.49 137.51 -0.25 3.61 142.22</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 0.60 4.13</u></div>
<div><u>HI SD CRN 0.65 4.18</u></div>
<div><u>*Wet Bid</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2376 down 0.0047</u></div>
<div><u>Chicago soybeans closed narrowly mixed.</u></div>
<div><u><br>
</u></div>
<div><u> MAR18 HI 9.69 1/4 NOV18 HI 9.89 1/4</u></div>
<div><u> LOW 9.61 1/4 LOW 9.84 1/4</u></div>
<div><u> CLOSE9.68 3/4 Up 3/4 CLOSE 9.88 3/4 Down 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 +MAR1+MAR1+MAY18</u></div>
<div><u>CK Low 1.65 11.34 416.581.60 11.49 422.09</u></div>
<div><u>CK High 1.70 11.39 418.421.75 11.64 427.60</u></div>
<div><u>CK Average 1.69 -0.4911.38 418.051.68 -0.5411.56 424.91</u></div>
<div><u>Essex Cty 1.70 11.39 418.421.70 11.59 425.77</u></div>
<div><u>Mdsx Low 1.65 11.34 416.581.66 11.55 424.30</u></div>
<div><u>Mdsx High 1.69 11.38 418.051.70 11.59 425.77</u></div>
<div><u>Mdsx Average 1.67 -0.5111.36 417.321.68 -0.5411.57 425.03</u></div>
<div><u>Hensall 1.65 11.34 416.581.73 11.61 426.69</u></div>
<div><u>Bruce 1.65 11.34 416.581.70 11.59 425.77</u></div>
<div><u>Putnam 1.65 11.34 416.581.75 11.64 427.60</u></div>
<div><u>Burford 1.76 11.45 420.621.73 11.62 426.87</u></div>
<div><u>Port Perry 1.69 11.38 418.051.66 11.55 424.30</u></div>
<div><u>Norfolk 1.65 11.34 416.581.70 11.59 425.77</u></div>
<div><u>Palmerston 1.75 11.44 420.261.75 11.64 427.60</u></div>
<div><u>Varna 1.65 11.34 416.581.75 11.64 427.60</u></div>
<div><u>Trenton 1.70 11.39 418.421.74 11.63 427.24</u></div>
<div><u>Winchester 1.71 11.40 418.791.74 11.63 427.24</u></div>
<div><u>North Gower 1.65 11.34 416.581.65 11.54 423.93</u></div>
<div><u>Huron FOB 1.75 11.44 420.261.85 11.74 431.28</u></div>
<div><u>Kent FOB 1.80 11.49 422.091.65 11.54 423.93</u></div>
<div><u>Lambton FOB 1.85 11.54 423.931.70 11.59 425.77</u></div>
<div><u>Middlesex FOB1.79 1.87 1.87 1.81 11.48 421.731.74 11.63 427.24</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton N/A 2.10 11.99 440.47</u></div>
<div><u>Prescott 1.82 11.51 422.832.03 11.92 437.89</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.24 9.45 347.31-0.37 9.52 349.67</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2376 down 0.0047</u></div>
<div><u>Chicago wheat closed slightly higher.</u></div>
<div><u>MAR18 HI 4.23 1/4 JUL18 HI 4.48 3/4</u></div>
<div><u> LOW 4.15 1/2 LOW 4.42</u></div>
<div><u> CLOSE 4.21 1/2 Up 5 CLOSE 4.47 3/4 Up 4</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly higher.</u></div>
<div><u>MAR18 HI 6.15 1/4 SEP18 HI 6.25</u></div>
<div><u> LOW 6.11 1/4 LOW 6.23</u></div>
<div><u> CLOSE 6.11 3/4 Up 1/4 CLOSE 6.24 1/2 Up 3/4</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 0.69 0.82 0.69 0.15</u></div>
<div><u>CAD $/bu 4.91 5.03 4.91 6.27</u></div>
<div><u>CAD $/tonne 180.31 184.86 180.31 230.44</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 0.65 N/A</u></div>
<div><u>London 0.82 1.13 0.75 N/A 0.93 0.68 0.68 N/A</u></div>
<div><u>Hensall 0.85 N/A 0.75 N/A 0.90 N/A 0.65 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 0.75 0.15 0.90 0.70 0.65 0.30</u></div>
<div><u>Essex N/A N/A N/A N/A N/A N/A 0.53 N/A</u></div>
<div><u>Norwich 0.85 N/A 0.75 N/A 0.90 N/A 0.65 N/A</u></div>
<div><u>Port Hope N/A N/A 0.80 N/A N/A 0.75 0.70 N/A</u></div>
<div><u>Kent Bridge 0.85 N/A 0.75 N/A 0.90 N/A 0.65 N/A</u></div>
<div><u>Chatham N/A N/A 0.75 N/A N/A N/A 0.65 N/A</u></div>
<div><u>Brigden N/A N/A 0.75 N/A N/A N/A 0.65 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 0.90 0.70 0.70 N/A</u></div>
<div><u>Mitchell 0.85 0.75 0.75 N/A 0.90 0.65 0.65 N/A</u></div>
<div><u>Thornton N/A N/A N/A 0.16 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 0.75 0.70 0.15 N/A 0.84 0.79 0.05</u></div>
<div><u>W O Feed 1.44</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 1.13 N/A N/A N/A 1.06 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 4.12US 5.09CA 4.33US 5.35CA</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 0.69 0.69 0.63 0.12</u></div>
<div><u>CAD $/bu 5.17 5.17 5.11 6.37</u></div>
<div><u>CAD $/tonne 189.90 189.90 187.63 233.88</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 454.49</u></div>
<div><u>DDG's FOB Srn & Aylm 215.00 - 230.00</u></div>
<div><u><br>
</u></div>
<div><u></u>
<p class="MsoNormal" style=""><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>
<span style="background:#FDFDFD">Tel.<span class="apple-converted-space"> </span></span></span><a href="callto:519-674-1500" style=""><span style="font-size: 10pt; line-height: 115%; font-family: "Courier New"; color: rgb(51, 102, 153);">519-674-1500</span></a><span class="apple-converted-space" style=""><span style="font-size:10.0pt;line-height:115%;font-family:"Courier New";color:#333333;
background:#FDFDFD"> </span></span><span style="font-size: 10pt; line-height: 115%; font-family: "Courier New"; color: rgb(51, 51, 51); background: rgb(253, 253, 253);">x
63577<span class="apple-converted-space"> </span></span><span style="font-size: 10pt; line-height: 115%; font-family: "Courier New"; color: rgb(51, 51, 51);"><br>
<span style="background:#FDFDFD">Fax.<span class="apple-converted-space"> </span></span></span><a href="callto:519-674-1530" style=""><span style="font-size: 10pt; line-height: 115%; font-family: "Courier New"; color: rgb(51, 102, 153);">519-674-1530</span></a><span class="apple-converted-space" style=""><span style="font-size:10.0pt;line-height:115%;font-family:"Courier New";color:#333333;
background:#FDFDFD"> </span></span><span style="font-size: 10pt; line-height: 115%; font-family: "Courier New"; color: rgb(51, 51, 51);"><br>
<br>
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<span style="background: rgb(253, 253, 253);">This Farm Market News product is sponsored by:</span><br>
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