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<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Tue, January 23</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.243 down 0.0018</u></div>
<div><u>Chicago corn closed slightly lower.</u></div>
<div><u><br>
</u></div>
<div><u> MAR18 HI 3.52 DEC18 HI 3.85 1/2</u></div>
<div><u> LOW 3.49 1/2 LOW 3.83 1/4</u></div>
<div><u> CLOSE3.51 1/4 Down 3/4 CLOSE 3.85 Down 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+MAY18+MAY18</u></div>
<div><u>CK Low 0.60 4.11 161.90 0.60 4.45 175.19</u></div>
<div><u>CK High 0.65 4.16 163.87 0.70 4.55 179.13</u></div>
<div><u>CK Avg 0.61 -0.20 4.12 162.23 0.63 -0.25 4.48 176.17</u></div>
<div><u>Essex Cty 0.60 4.11 161.90 0.65 4.50 177.16</u></div>
<div><u>Mdsx Low 0.60 4.11 161.90 0.60 4.45 175.19</u></div>
<div><u>Mdsx High 0.65 4.16 163.87 0.60 4.45 175.19</u></div>
<div><u>Mdsx Avg 0.63 -0.18 4.14 162.89 0.60 -0.27 4.45 175.19</u></div>
<div><u>Hensall 0.65 4.16 163.87 0.60 4.45 175.19</u></div>
<div><u>Bruce 0.65 4.16 163.87 0.60 4.45 175.19</u></div>
<div><u>Putnam 0.60 4.11 161.90 0.60 4.45 175.19</u></div>
<div><u>Burford 0.65 4.16 163.87 0.60 4.45 175.19</u></div>
<div><u>Port Perry 0.65 4.16 163.87 0.65 4.50 177.16</u></div>
<div><u>Norfolk 0.60 4.11 161.90 0.60 4.45 175.19</u></div>
<div><u>Palmerston 0.60 4.11 161.90 0.65 4.50 177.16</u></div>
<div><u>Varna 0.65 4.16 163.87 0.60 4.45 175.19</u></div>
<div><u>Trenton 0.70 4.21 165.84 0.80 4.65 183.06</u></div>
<div><u>Winchester 0.93 4.44 174.89 0.85 4.70 185.03</u></div>
<div><u>North Gower 0.90 4.41 173.71 0.82 4.67 183.85</u></div>
<div><u>Huron FOB 0.82 4.33 170.56 0.68 4.53 178.34</u></div>
<div><u>Kent FOB 0.82 4.33 170.56 0.65 4.50 177.16</u></div>
<div><u>Lamb FOB 0.80 4.31 169.78 0.65 4.50 177.16</u></div>
<div><u>Mdsx FOB 0.65 0.65N/A N/A 4.16 163.87 0.60 4.45 175.19</u></div>
<div><u>FOB SW Que 1.42 4.93 194.18 1.00 4.85 190.94</u></div>
<div><u>Track 1.04 4.55 179.03N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth 0.87 1.00 0.98 1.04 4.38 172.53 0.80 4.65 183.06</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A N/A N/A</u></div>
<div><u>Aylmer-Eth N/A 0.85 0.85 0.80 N/A</u></div>
<div><u>Sarn-Eth 0.95 0.95 0.95N/A 4.46 175.68N/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 4.75 187.00</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 4.90 192.90</u></div>
<div><u>W O Feed 1.15 4.66 183.48</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.16 4.67 183.95</u></div>
<div><u>Toledo El. -0.04 3.48 136.81 -0.25 3.60 141.79</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 0.62 1/2 4.13 3/4</u></div>
<div><u>HI SD CRN 0.65 4.16 1/4</u></div>
<div><u>*Wet Bid</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.243 down 0.0018</u></div>
<div><u>Chicago soybeans closed narrowly mixed.</u></div>
<div><u><br>
</u></div>
<div><u> MAR18 HI 9.88 3/4 NOV18 HI 10.03 1/2</u></div>
<div><u> LOW 9.79 1/2 LOW 9.96 1/4</u></div>
<div><u> CLOSE9.86 1/4 Up 2 CLOSE 10.02 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 +MAR1+MAR1+MAY18</u></div>
<div><u>CK Low 1.70 11.56 424.851.71 11.73 431.00</u></div>
<div><u>CK High 1.80 11.66 428.521.75 11.77 432.47</u></div>
<div><u>CK Average 1.76 -0.5111.62 427.051.74 -0.5511.76 432.23</u></div>
<div><u>Essex Cty 1.70 11.56 424.851.70 11.72 430.64</u></div>
<div><u>Mdsx Low 1.75 11.61 426.691.71 11.73 431.00</u></div>
<div><u>Mdsx High 1.76 11.62 427.051.80 11.82 434.31</u></div>
<div><u>Mdsx Average 1.76 -0.5211.62 426.871.76 -0.5411.78 432.66</u></div>
<div><u>Hensall 1.73 11.59 425.771.78 11.80 433.39</u></div>
<div><u>Bruce 1.75 11.61 426.691.80 11.82 434.31</u></div>
<div><u>Putnam 1.70 11.56 424.851.75 11.77 432.47</u></div>
<div><u>Burford 1.83 11.69 429.631.78 11.80 433.58</u></div>
<div><u>Port Perry 1.76 11.62 427.051.71 11.73 431.00</u></div>
<div><u>Norfolk 1.75 11.61 426.691.80 11.82 434.31</u></div>
<div><u>Palmerston 1.75 11.61 426.691.75 11.77 432.47</u></div>
<div><u>Varna 1.70 11.56 424.851.75 11.77 432.47</u></div>
<div><u>Trenton 1.80 11.66 428.521.80 11.82 434.31</u></div>
<div><u>Winchester 1.75 11.61 426.691.80 11.82 434.31</u></div>
<div><u>North Gower 1.63 11.49 422.281.76 11.78 432.84</u></div>
<div><u>Huron FOB 1.80 11.66 428.521.85 11.87 436.15</u></div>
<div><u>Kent FOB 1.90 11.76 432.201.75 11.77 432.47</u></div>
<div><u>Lambton FOB 2.00 11.86 435.871.85 11.87 436.15</u></div>
<div><u>Middlesex FOB1.87 1.96 1.96 1.89 11.73 431.101.80 11.82 434.31</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton N/A 2.20 12.22 449.01</u></div>
<div><u>Prescott 1.85 11.71 430.362.05 12.07 443.50</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.24 9.63 353.71-0.37 9.65 354.48</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.243 down 0.0018</u></div>
<div><u>Chicago wheat closed slightly lower.</u></div>
<div><u>MAR18 HI 4.25 JUL18 HI 4.51</u></div>
<div><u> LOW 4.19 3/4 LOW 4.46</u></div>
<div><u> CLOSE 4.21 1/2 Down 4 1/4 CLOSE 4.48 Down 4</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly lower.</u></div>
<div><u>MAR18 HI 6.08 1/4 SEP18 HI 6.23 1/4</u></div>
<div><u> LOW 6.04 1/4 LOW 6.20</u></div>
<div><u> CLOSE 6.04 1/2 Down 2 1/2 CLOSE 6.20 Down 1 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 0.96 0.90 0.84 0.16</u></div>
<div><u>CAD $/bu 5.18 5.11 5.05 6.21</u></div>
<div><u>CAD $/tonne 190.23 187.94 185.66 228.14</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 0.70 N/A</u></div>
<div><u>London 0.84 1.16 0.78 N/A 0.97 0.72 0.72 N/A</u></div>
<div><u>Hensall 0.90 N/A 0.80 N/A 0.95 N/A 0.70 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 0.85 0.80 0.15 0.95 0.70 0.70 0.30</u></div>
<div><u>Essex N/A N/A N/A N/A N/A N/A 0.54 N/A</u></div>
<div><u>Norwich 0.90 N/A 0.80 N/A 0.95 N/A 0.70 N/A</u></div>
<div><u>Port Hope N/A N/A 0.80 N/A N/A 0.70 0.70 N/A</u></div>
<div><u>Kent Bridge 0.90 N/A 0.80 N/A 0.95 N/A 0.70 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 0.90 0.70 0.70 N/A</u></div>
<div><u>Mitchell 0.90 0.85 0.80 N/A 0.95 0.70 0.70 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 0.86 0.73 0.20 N/A 0.88 0.82 0.16</u></div>
<div><u>W O Feed 1.43</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 1.15 N/A N/A N/A 1.09 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 4.12US 5.11CA 4.33US 5.38CA</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 0.96 0.84 0.78 0.14</u></div>
<div><u>CAD $/bu 5.44 5.32 5.26 6.34</u></div>
<div><u>CAD $/tonne 199.95 195.38 193.10 232.82</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 471.36</u></div>
<div><u>DDG's FOB Srn & Aylm 235.00 - 240.00</u></div>
<div><u><br>
</u></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>
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<span style="background: rgb(253, 253, 253);">This Farm Market News product is sponsored by:</span><br>
<span style="background: rgb(253, 253, 253);">Grain Farmers of Ontario<u><o:p></o:p></u></span></span></p>
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