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<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Fri, February 23</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.2661 down 0.0042</u></div>
<div><u>Chicago corn closed slightly lower to steady.</u></div>
<div><u><br>
</u></div>
<div><u> MAR18 HI 3.67 3/4 DEC18 HI 3.98 1/4</u></div>
<div><u> LOW 3.65 1/4 LOW 3.96 1/4</u></div>
<div><u> CLOSE3.66 1/4 Down 1/2 CLOSE 3.97 1/4 Unchanged</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 +MAY18+MAY18+JUL18</u></div>
<div><u>CK Low 0.63 4.29 168.99 0.65 4.62 181.98</u></div>
<div><u>CK High 0.75 4.41 173.71 0.70 4.67 183.95</u></div>
<div><u>CK Avg 0.67 -0.24 4.33 170.63 0.66 -0.31 4.63 182.31</u></div>
<div><u>Essex Cty 0.63 4.29 168.99 0.65 4.62 181.98</u></div>
<div><u>Mdsx Low 0.65 4.31 169.78 0.65 4.62 181.98</u></div>
<div><u>Mdsx High 0.65 4.31 169.78 0.65 4.62 181.98</u></div>
<div><u>Mdsx Avg 0.65 -0.26 4.31 169.78 0.65 -0.31 4.62 181.98</u></div>
<div><u>Hensall 0.65 4.31 169.78 0.65 4.62 181.98</u></div>
<div><u>Bruce 0.70 4.36 171.74 0.70 4.67 183.95</u></div>
<div><u>Putnam 0.65 4.31 169.78 0.65 4.62 181.98</u></div>
<div><u>Burford 0.70 4.36 171.74 0.65 4.62 181.98</u></div>
<div><u>Port Perry 0.70 4.36 171.74 0.65 4.62 181.98</u></div>
<div><u>Norfolk 0.75 4.41 173.71 0.65 4.62 181.98</u></div>
<div><u>Palmerston 0.63 4.29 168.99 0.65 4.62 181.98</u></div>
<div><u>Varna 0.65 4.31 169.78 0.65 4.62 181.98</u></div>
<div><u>Trenton 0.65 4.31 169.78 0.75 4.72 185.92</u></div>
<div><u>Winchester 1.00 4.66 183.55 1.00 4.97 195.76</u></div>
<div><u>North Gower 0.95 4.61 181.59 0.94 4.91 193.40</u></div>
<div><u>Huron FOB 0.90 4.56 179.62 0.68 4.65 183.16</u></div>
<div><u>Kent FOB 0.97 4.63 182.37 0.70 4.67 183.95</u></div>
<div><u>Lamb FOB 0.85 4.51 177.65 0.70 4.67 183.95</u></div>
<div><u>Mdsx FOB 0.75 0.75 0.80N/A 4.41 173.71 0.65 4.62 181.98</u></div>
<div><u>FOB SW Que 1.37 5.03 198.12 1.06 5.03 198.12</u></div>
<div><u>Track 1.10 4.76 187.49N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A 1.15 1.13 0.90 4.87 191.82</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A N/A N/A</u></div>
<div><u>Aylmer-Eth N/A N/A N/A 1.10 N/A</u></div>
<div><u>Sarn-Eth 1.00 1.00N/A N/A 4.66 183.55N/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 1.15 0.95 4.92 193.79</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 1.10 5.07 199.70</u></div>
<div><u>W O Feed 1.22 4.89 192.37</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.32 4.98 196.15</u></div>
<div><u>Toledo El. -0.04 3.62 142.69 -0.25 3.72 146.44</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 0.69 4.35 1/4</u></div>
<div><u>HI SD CRN 0.75 4.41 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 1.2661 down 0.0042</u></div>
<div><u>Chicago soybeans closed slightly higher.</u></div>
<div><u><br>
</u></div>
<div><u> MAR18 HI 10.39 1/2 NOV18 HI 10.31 1/4</u></div>
<div><u> LOW 10.28 LOW 10.24 3/4</u></div>
<div><u> CLOSE10.36 1/4 Up 4 1/4 CLOSE 10.28 Up 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+MAY1+MAY18</u></div>
<div><u>CK Low 1.95 12.31 452.411.95 12.23 449.38</u></div>
<div><u>CK High 2.00 12.36 454.242.05 12.33 453.05</u></div>
<div><u>CK Average 1.98 -0.6212.34 453.331.98 -0.5812.26 450.29</u></div>
<div><u>Essex Cty 2.05 12.41 456.081.95 12.23 449.38</u></div>
<div><u>Mdsx Low 1.95 12.31 452.411.95 12.23 449.38</u></div>
<div><u>Mdsx High 2.00 12.36 454.242.00 12.28 451.21</u></div>
<div><u>Mdsx Average 1.98 -0.6212.34 453.331.98 -0.5812.26 450.29</u></div>
<div><u>Hensall 2.03 12.39 455.162.03 12.31 452.13</u></div>
<div><u>Bruce 2.05 12.41 456.082.05 12.33 453.05</u></div>
<div><u>Putnam 2.00 12.36 454.242.00 12.28 451.21</u></div>
<div><u>Burford 2.02 12.38 454.982.02 12.30 451.95</u></div>
<div><u>Port Perry 1.95 12.31 452.411.95 12.23 449.38</u></div>
<div><u>Norfolk 2.00 12.36 454.242.00 12.28 451.21</u></div>
<div><u>Palmerston 2.00 12.36 454.242.00 12.28 451.21</u></div>
<div><u>Varna 2.05 12.41 456.082.05 12.33 453.05</u></div>
<div><u>Trenton 2.00 12.36 454.241.95 12.23 449.38</u></div>
<div><u>Winchester 1.95 12.31 452.412.00 12.28 451.21</u></div>
<div><u>North Gower 1.98 12.34 453.511.98 12.26 450.48</u></div>
<div><u>Huron FOB 2.15 12.51 459.762.00 12.28 451.21</u></div>
<div><u>Kent FOB 2.15 12.51 459.761.95 12.23 449.38</u></div>
<div><u>Lambton FOB 2.10 12.46 457.922.15 12.43 456.72</u></div>
<div><u>Middlesex FOB2.12 2.12 2.13 2.20 12.48 458.652.07 12.35 453.78</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton N/A 2.47 12.75 468.48</u></div>
<div><u>Prescott 2.20 12.56 461.592.35 12.63 464.07</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.24 10.12 371.92-0.38 9.90 363.79</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2661 down 0.0042</u></div>
<div><u>Chicago wheat closed steady to slightly higher.</u></div>
<div><u>MAR18 HI 4.56 1/4 JUL18 HI 4.84</u></div>
<div><u> LOW 4.51 1/2 LOW 4.78 1/2</u></div>
<div><u> CLOSE 4.52 1/4 Up 1 CLOSE 4.79 Unchanged</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly lower.</u></div>
<div><u>MAR18 HI 6.06 SEP18 HI 6.35 3/4</u></div>
<div><u> LOW 6.00 1/4 LOW 6.29 1/2</u></div>
<div><u> CLOSE 6.00 3/4 Down 2 1/4 CLOSE 6.30 Down 2 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 1.14 1.08 1.01 0.27</u></div>
<div><u>CAD $/bu 5.66 5.60 5.54 6.28</u></div>
<div><u>CAD $/tonne 208.06 205.73 203.41 230.62</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 0.90 N/A N/A N/A 0.80 N/A</u></div>
<div><u>London 0.99 1.37 0.87 N/A 1.13 0.87 0.81 N/A</u></div>
<div><u>Hensall 1.05 N/A 0.90 N/A 1.00 N/A 0.80 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 1.05 1.05 0.95 0.25 1.00 0.85 0.85 0.35</u></div>
<div><u>Essex N/A N/A 0.74 N/A N/A N/A 0.83 N/A</u></div>
<div><u>Norwich 1.05 N/A 0.90 N/A 1.00 N/A 0.80 N/A</u></div>
<div><u>Port Hope N/A N/A 0.90 N/A N/A 0.85 0.80 N/A</u></div>
<div><u>Kent Bridge 1.00 N/A 0.90 N/A 1.00 N/A 0.80 N/A</u></div>
<div><u>Chatham N/A N/A 0.90 N/A N/A N/A 0.85 N/A</u></div>
<div><u>Brigden N/A N/A 0.90 N/A N/A N/A 0.85 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 1.20 1.05 0.90 N/A 1.00 0.85 0.85 N/A</u></div>
<div><u>Mitchell 1.05 1.05 0.90 N/A 1.00 0.85 0.80 N/A</u></div>
<div><u>Thornton N/A N/A N/A 0.77 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 1.07 1.01 0.26 N/A 1.17 1.10 0.26</u></div>
<div><u>W O Feed 1.45</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 1.33 N/A N/A N/A 1.26 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 4.57US 5.79CA 4.74US 5.99CA</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 1.14 1.01 0.95 0.27</u></div>
<div><u>CAD $/bu 5.93 5.80 5.74 6.57</u></div>
<div><u>CAD $/tonne 217.79 213.15 210.83 241.48</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 526.14</u></div>
<div><u>DDG's FOB Srn & Aylm 220.00 - 245.00</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="" id="LPlnk920429" previewremoved="true"><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="" id="LPlnk480744" previewremoved="true"><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;
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