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<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, January 31</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.2306 down 0.0017</u></div>
<div><u>Chicago corn closed slightly lower to steady.</u></div>
<div><u><br>
</u></div>
<div><u> MAR18 HI 3.62 DEC18 HI 3.93 3/4</u></div>
<div><u> LOW 3.59 1/2 LOW 3.91 1/2</u></div>
<div><u> CLOSE3.61 1/2 Unchanged CLOSE 3.93 1/4 Down 1/4</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 0.55 4.17 163.97 0.55 4.48 176.47</u></div>
<div><u>CK High 0.60 4.22 165.94 0.65 4.58 180.41</u></div>
<div><u>CK Avg 0.57 -0.22 4.18 164.62 0.58 -0.27 4.51 177.45</u></div>
<div><u>Essex Cty 0.60 4.22 165.94 0.65 4.58 180.41</u></div>
<div><u>Mdsx Low 0.55 4.17 163.97 0.55 4.48 176.47</u></div>
<div><u>Mdsx High 0.60 4.22 165.94 0.55 4.48 176.47</u></div>
<div><u>Mdsx Avg 0.58 -0.21 4.19 164.95 0.55 -0.29 4.48 176.47</u></div>
<div><u>Hensall 0.60 4.22 165.94 0.55 4.48 176.47</u></div>
<div><u>Bruce 0.60 4.22 165.94 0.55 4.48 176.47</u></div>
<div><u>Putnam 0.60 4.22 165.94 0.55 4.48 176.47</u></div>
<div><u>Burford 0.60 4.22 165.94 0.55 4.48 176.47</u></div>
<div><u>Port Perry 0.60 4.22 165.94 0.60 4.53 178.44</u></div>
<div><u>Norfolk 0.55 4.17 163.97 0.55 4.48 176.47</u></div>
<div><u>Palmerston 0.60 4.22 165.94 0.65 4.58 180.41</u></div>
<div><u>Varna 0.60 4.22 165.94 0.55 4.48 176.47</u></div>
<div><u>Trenton 0.65 4.27 167.91 0.75 4.68 184.34</u></div>
<div><u>Winchester 0.95 4.57 179.72 0.85 4.78 188.28</u></div>
<div><u>North Gower 0.90 4.52 177.75 0.82 4.75 187.10</u></div>
<div><u>Huron FOB 0.75 4.37 171.84 0.60 4.53 178.44</u></div>
<div><u>Kent FOB 0.80 4.42 173.81 0.60 4.53 178.44</u></div>
<div><u>Lamb FOB 0.75 4.37 171.84 0.65 4.58 180.41</u></div>
<div><u>Mdsx FOB 0.60 0.60N/A N/A 4.22 165.94 0.60 4.53 178.44</u></div>
<div><u>FOB SW Que 1.50 5.12 201.37 1.09 5.02 197.73</u></div>
<div><u>Track 1.08 4.69 184.64N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth 0.95 0.95 0.93 0.99 4.57 179.72 0.80 4.73 186.31</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 4.57 179.72N/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 0.95 4.88 192.22</u></div>
<div><u>Pt.Colb-Ing N/A N/A N/A N/A 0.90 4.83 190.25</u></div>
<div><u>Cardnl-Ing N/A N/A N/A N/A 1.10 5.03 198.12</u></div>
<div><u>W O Feed 1.13 4.75 186.96</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.14 4.76 187.20</u></div>
<div><u>Toledo El. -0.04 3.58 140.86 -0.25 3.69 145.13</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 0.57 1/2 4.19</u></div>
<div><u>HI SD CRN 0.60 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 1.2306 down 0.0017</u></div>
<div><u>Chicago soybeans closed slightly lower.</u></div>
<div><u><br>
</u></div>
<div><u> MAR18 HI 10.02 NOV18 HI 10.14</u></div>
<div><u> LOW 9.89 LOW 10.05 1/4</u></div>
<div><u> CLOSE9.95 3/4 Down 4 1/2 CLOSE 10.11 1/4 Down 2 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 1.60 11.56 424.671.57 11.68 429.26</u></div>
<div><u>CK High 1.65 11.61 426.501.65 11.76 432.20</u></div>
<div><u>CK Average 1.63 -0.5411.58 425.651.61 -0.5811.72 430.79</u></div>
<div><u>Essex Cty 1.65 11.61 426.501.60 11.71 430.36</u></div>
<div><u>Mdsx Low 1.60 11.56 424.671.57 11.68 429.26</u></div>
<div><u>Mdsx High 1.61 11.57 425.031.65 11.76 432.20</u></div>
<div><u>Mdsx Average 1.61 -0.5611.56 424.851.61 -0.5811.72 430.73</u></div>
<div><u>Hensall 1.60 11.56 424.671.65 11.76 432.20</u></div>
<div><u>Bruce 1.60 11.56 424.671.65 11.76 432.20</u></div>
<div><u>Putnam 1.60 11.56 424.671.65 11.76 432.20</u></div>
<div><u>Burford 1.68 11.64 427.601.64 11.75 431.83</u></div>
<div><u>Port Perry 1.61 11.57 425.031.57 11.68 429.26</u></div>
<div><u>Norfolk 1.60 11.56 424.671.65 11.76 432.20</u></div>
<div><u>Palmerston 1.65 11.61 426.501.65 11.76 432.20</u></div>
<div><u>Varna 1.60 11.56 424.671.65 11.76 432.20</u></div>
<div><u>Trenton 1.60 11.56 424.671.70 11.81 434.04</u></div>
<div><u>Winchester 1.59 11.55 424.301.64 11.75 431.83</u></div>
<div><u>North Gower 1.57 11.53 423.561.71 11.82 434.40</u></div>
<div><u>Huron FOB 1.70 11.66 428.341.70 11.81 434.04</u></div>
<div><u>Kent FOB 1.75 11.71 430.181.60 11.71 430.36</u></div>
<div><u>Lambton FOB 1.75 11.71 430.181.75 11.86 435.87</u></div>
<div><u>Middlesex FOB1.71 1.71 1.78 1.72 11.67 428.711.65 11.76 432.20</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton N/A 2.05 12.16 446.90</u></div>
<div><u>Prescott 1.77 11.73 430.911.96 12.07 443.59</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.23 9.72 357.28-0.37 9.74 358.01</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2306 down 0.0017</u></div>
<div><u>Chicago wheat closed slightly to moderately lower.</u></div>
<div><u>MAR18 HI 4.58 3/4 JUL18 HI 4.84 1/2</u></div>
<div><u> LOW 4.47 1/2 LOW 4.74 3/4</u></div>
<div><u> CLOSE 4.51 3/4 Down 5 1/2 CLOSE 4.79 Down 4 1/2</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly to moderately lower.</u></div>
<div><u>MAR18 HI 6.19 1/4 SEP18 HI 6.32 1/4</u></div>
<div><u> LOW 6.06 1/4 LOW 6.25</u></div>
<div><u> CLOSE 6.07 1/4 Down 8 3/4 CLOSE 6.25 1/4 Down 4 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 0.98 0.92 0.86 0.11</u></div>
<div><u>CAD $/bu 5.50 5.44 5.37 6.18</u></div>
<div><u>CAD $/tonne 202.01 199.75 197.49 227.10</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 0.76 N/A 0.93 0.69 0.63 N/A</u></div>
<div><u>Hensall 0.90 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 0.53 N/A</u></div>
<div><u>Norwich 0.90 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 0.90 0.75 N/A 0.90 0.70 0.65 N/A</u></div>
<div><u>Thornton N/A N/A N/A 0.50 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 0.86 0.73 0.20 N/A 0.86 0.80 0.16</u></div>
<div><u>W O Feed 1.40</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 1.16 N/A N/A N/A 1.10 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 4.47US 5.50CA 4.64US 5.71CA</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 0.98 0.86 0.79 0.08</u></div>
<div><u>CAD $/bu 5.77 5.65 5.58 6.34</u></div>
<div><u>CAD $/tonne 211.95 207.43 205.17 232.85</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 467.17</u></div>
<div><u>DDG's FOB Srn & Aylm 245.00 - 250.00</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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