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<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, January 24</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.2321 down 0.0109</u></div>
<div><u>Chicago corn closed moderately higher.</u></div>
<div><u><br>
</u></div>
<div><u> MAR18 HI 3.57 DEC18 HI 3.89 3/4</u></div>
<div><u> LOW 3.49 3/4 LOW 3.83 3/4</u></div>
<div><u> CLOSE3.56 1/2 Up 5 1/4 CLOSE 3.89 1/2 Up 4 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 4.12 162.00 0.55 4.45 174.99</u></div>
<div><u>CK High 0.65 4.22 165.94 0.70 4.60 180.90</u></div>
<div><u>CK Avg 0.58 -0.20 4.14 162.98 0.59 -0.25 4.49 176.63</u></div>
<div><u>Essex Cty 0.60 4.17 163.97 0.65 4.55 178.93</u></div>
<div><u>Mdsx Low 0.55 4.12 162.00 0.55 4.45 174.99</u></div>
<div><u>Mdsx High 0.60 4.17 163.97 0.55 4.45 174.99</u></div>
<div><u>Mdsx Avg 0.58 -0.20 4.14 162.98 0.55 -0.28 4.45 174.99</u></div>
<div><u>Hensall 0.60 4.17 163.97 0.55 4.45 174.99</u></div>
<div><u>Bruce 0.60 4.17 163.97 0.55 4.45 174.99</u></div>
<div><u>Putnam 0.60 4.17 163.97 0.55 4.45 174.99</u></div>
<div><u>Burford 0.60 4.17 163.97 0.55 4.45 174.99</u></div>
<div><u>Port Perry 0.60 4.17 163.97 0.60 4.50 176.96</u></div>
<div><u>Norfolk 0.55 4.12 162.00 0.55 4.45 174.99</u></div>
<div><u>Palmerston 0.60 4.17 163.97 0.65 4.55 178.93</u></div>
<div><u>Varna 0.60 4.17 163.97 0.55 4.45 174.99</u></div>
<div><u>Trenton 0.70 4.27 167.91 0.80 4.70 184.83</u></div>
<div><u>Winchester 0.93 4.50 176.96 0.85 4.75 186.80</u></div>
<div><u>North Gower 0.90 4.47 175.78 0.82 4.72 185.62</u></div>
<div><u>Huron FOB 0.75 4.32 169.87 0.60 4.50 176.96</u></div>
<div><u>Kent FOB 0.77 4.34 170.66 0.60 4.50 176.96</u></div>
<div><u>Lamb FOB 0.75 4.32 169.87 0.60 4.50 176.96</u></div>
<div><u>Mdsx FOB 0.60 0.60N/A N/A 4.17 163.97 0.60 4.50 176.96</u></div>
<div><u>FOB SW Que 1.49 5.06 199.01 1.00 4.90 192.71</u></div>
<div><u>Track 1.04 4.60 181.09N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth 0.87 1.00 0.98 1.04 4.44 174.60 0.80 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 0.85 0.85 0.80 N/A</u></div>
<div><u>Sarn-Eth 0.95 0.95 0.95N/A 4.52 177.75N/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 4.80 188.77</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 4.95 194.68</u></div>
<div><u>W O Feed 1.14 4.70 185.15</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.11 4.68 184.05</u></div>
<div><u>Toledo El. -0.04 3.53 138.89 -0.25 3.65 143.64</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 0.60 4.16 1/2</u></div>
<div><u>HI SD CRN 0.65 4.21 1/2</u></div>
<div><u>*Wet Bid</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2321 down 0.0109</u></div>
<div><u>Chicago soybeans closed slightly higher.</u></div>
<div><u><br>
</u></div>
<div><u> MAR18 HI 9.94 3/4 NOV18 HI 10.09 1/4</u></div>
<div><u> LOW 9.80 1/4 LOW 9.98</u></div>
<div><u> CLOSE9.92 1/4 Up 6 CLOSE 10.07 1/2 Up 5 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 1.62 11.54 424.111.57 11.65 427.88</u></div>
<div><u>CK High 1.70 11.62 427.051.75 11.83 434.49</u></div>
<div><u>CK Average 1.65 -0.5311.58 425.341.65 -0.5611.72 430.64</u></div>
<div><u>Essex Cty 1.70 11.62 427.051.70 11.78 432.66</u></div>
<div><u>Mdsx Low 1.60 11.52 423.381.57 11.65 427.88</u></div>
<div><u>Mdsx High 1.62 11.54 424.111.65 11.73 430.82</u></div>
<div><u>Mdsx Average 1.61 -0.5611.53 423.751.61 -0.5911.69 429.35</u></div>
<div><u>Hensall 1.60 11.52 423.381.65 11.73 430.82</u></div>
<div><u>Bruce 1.60 11.52 423.381.65 11.73 430.82</u></div>
<div><u>Putnam 1.60 11.52 423.381.65 11.73 430.82</u></div>
<div><u>Burford 1.69 11.61 426.691.64 11.72 430.45</u></div>
<div><u>Port Perry 1.62 11.54 424.111.57 11.65 427.88</u></div>
<div><u>Norfolk 1.65 11.57 425.221.70 11.78 432.66</u></div>
<div><u>Palmerston 1.75 11.67 428.891.75 11.83 434.49</u></div>
<div><u>Varna 1.60 11.52 423.381.65 11.73 430.82</u></div>
<div><u>Trenton 1.65 11.57 425.221.65 11.73 430.82</u></div>
<div><u>Winchester 1.75 11.67 428.891.80 11.88 436.33</u></div>
<div><u>North Gower 1.63 11.55 424.481.76 11.84 434.86</u></div>
<div><u>Huron FOB 1.70 11.62 427.051.70 11.78 432.66</u></div>
<div><u>Kent FOB 1.80 11.72 430.731.65 11.73 430.82</u></div>
<div><u>Lambton FOB 1.90 11.82 434.401.70 11.78 432.66</u></div>
<div><u>Middlesex FOB1.73 1.73 1.79 1.74 11.65 428.161.68 11.76 431.92</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton N/A 2.05 12.13 445.52</u></div>
<div><u>Prescott 1.85 11.77 432.572.05 12.13 445.52</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.23 9.69 355.99-0.37 9.71 356.62</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2321 down 0.0109</u></div>
<div><u>Chicago wheat closed higher.</u></div>
<div><u>MAR18 HI 4.33 3/4 JUL18 HI 4.58 3/4</u></div>
<div><u> LOW 4.20 3/4 LOW 4.47</u></div>
<div><u> CLOSE 4.33 Up 11 1/2 CLOSE 4.58 1/4 Up 10 1/4</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly to moderately higher.</u></div>
<div><u>MAR18 HI 6.10 1/4 SEP18 HI 6.26</u></div>
<div><u> LOW 6.04 3/4 LOW 6.20 1/2</u></div>
<div><u> CLOSE 6.08 Up 3 1/2 CLOSE 6.25 1/4 Up 5 1/4</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 0.94 0.88 0.82 0.12</u></div>
<div><u>CAD $/bu 5.27 5.21 5.15 6.20</u></div>
<div><u>CAD $/tonne 193.77 191.51 189.24 227.72</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 0.79 1.10 0.73 N/A 0.90 0.66 0.66 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 0.80 0.75 0.10 0.90 0.65 0.65 0.25</u></div>
<div><u>Essex N/A N/A N/A N/A N/A N/A 0.50 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 0.70 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 1.05 0.80 0.75 N/A 0.85 0.65 0.65 N/A</u></div>
<div><u>Mitchell 0.85 0.80 0.75 N/A 0.90 0.65 0.65 N/A</u></div>
<div><u>Thornton N/A N/A N/A 0.27 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 1.13 N/A N/A N/A 1.06 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 4.23US 5.21CA 4.43US 5.46CA</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 0.94 0.81 0.75 0.09</u></div>
<div><u>CAD $/bu 5.52 5.40 5.33 6.34</u></div>
<div><u>CAD $/tonne 202.80 198.28 196.01 233.11</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 474.00</u></div>
<div><u>DDG's FOB Srn & Aylm 235.00 - 240.00</u></div>
<div><br>
</div>
<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>
<span style="background:#FDFDFD">Tel.<span class="apple-converted-space"> </span></span></span><a href="callto:519-674-1500"><span style="font-size: 10pt; line-height: 115%; font-family: "Courier New"; color: rgb(51, 102, 153); text-decoration-line: none;">519-674-1500</span></a><span class="apple-converted-space"><span style="font-size:10.0pt;line-height:115%;font-family:"Courier New";color:#333333;
background:#FDFDFD"> </span></span><span style="font-size:10.0pt;
line-height:115%;font-family:"Courier New";color:#333333;background:#FDFDFD">x
63577<span class="apple-converted-space"> </span></span><span style="font-size:10.0pt;line-height:115%;font-family:"Courier New";color:#333333"><br>
<span style="background:#FDFDFD">Fax.<span class="apple-converted-space"> </span></span></span><a href="callto:519-674-1530"><span style="font-size: 10pt; line-height: 115%; font-family: "Courier New"; color: rgb(51, 102, 153); text-decoration-line: none;">519-674-1530</span></a><span class="apple-converted-space"><span style="font-size:10.0pt;line-height:115%;font-family:"Courier New";color:#333333;
background:#FDFDFD"> </span></span><span style="font-size:10.0pt;
line-height:115%;font-family:"Courier New";color:#333333"><br>
<br>
<span style="background:#FDFDFD">Click on this link:<span class="apple-converted-space"> </span></span></span><span class="object"><span style="font-size:10.0pt;line-height:115%;font-family:"Courier New";color:#336699">farmmarketnews-unsubscribe@list.gfo.ca</span></span><span class="apple-converted-space"><span style="font-size:10.0pt;line-height:115%;
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<span style="background:#FDFDFD">This Farm Market News product is sponsored by:</span><br>
<span style="background:#FDFDFD">Grain Farmers of Ontario<o:p></o:p></span></span></p>
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