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<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, April 25</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.2844 up 0.0037</u></div>
<div><u>Chicago corn closed moderately higher.</u></div>
<div><u><br>
</u></div>
<div><u> MAY18 HI 3.87 1/4 DEC18 HI 4.12 1/2</u></div>
<div><u> LOW 3.80 1/2 LOW 4.06</u></div>
<div><u> CLOSE3.86 1/2 Up 5 1/4 CLOSE 4.12 1/4 Up 5 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 +JUL18+JUL18+SEP18</u></div>
<div><u>CK Low 0.75 4.62 181.68 0.70 4.82 189.85</u></div>
<div><u>CK High 0.89 4.76 187.20 0.80 4.92 193.79</u></div>
<div><u>CK Avg 0.82 -0.22 4.69 184.44 0.74 -0.34 4.86 191.49</u></div>
<div><u>Essex Cty 0.89 4.76 187.20 0.75 4.87 191.82</u></div>
<div><u>Mdsx Low 0.80 4.67 183.65 0.70 4.82 189.85</u></div>
<div><u>Mdsx High 0.80 4.67 183.65 0.75 4.87 191.82</u></div>
<div><u>Mdsx Avg 0.80 -0.23 4.67 183.65 0.73 -0.35 4.85 190.84</u></div>
<div><u>Hensall 0.80 4.67 183.65 0.75 4.87 191.82</u></div>
<div><u>Bruce 0.80 4.67 183.65 0.75 4.87 191.82</u></div>
<div><u>Putnam 0.80 4.67 183.65 0.70 4.82 189.85</u></div>
<div><u>Burford 0.85 4.72 185.62 0.75 4.87 191.82</u></div>
<div><u>Port Perry 0.85 4.72 185.62 0.75 4.87 191.82</u></div>
<div><u>Norfolk 0.89 4.76 187.20 0.80 4.92 193.79</u></div>
<div><u>Palmerston 0.75 4.62 181.68 0.75 4.87 191.82</u></div>
<div><u>Varna 0.80 4.67 183.65 0.75 4.87 191.82</u></div>
<div><u>Trenton 0.84 4.71 185.23 0.85 4.97 195.76</u></div>
<div><u>Winchester 1.19 5.06 199.01 1.14 5.26 207.18</u></div>
<div><u>North Gower 0.97 4.84 190.35 1.02 5.14 202.45</u></div>
<div><u>Huron FOB 1.10 4.97 195.46 0.83 4.95 194.97</u></div>
<div><u>Kent FOB 1.09 4.96 195.07 0.80 4.92 193.79</u></div>
<div><u>Lamb FOB 0.95 4.82 189.56 0.75 4.87 191.82</u></div>
<div><u>Mdsx FOB 0.90 0.90 0.90N/A 4.77 187.59 0.75 4.87 191.82</u></div>
<div><u>FOB SW Que 1.45 5.32 209.24N/A</u></div>
<div><u>Track 1.23 5.09 200.38N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A N/A N/A 0.96 5.08 200.09</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A N/A N/A</u></div>
<div><u>Aylmer-Eth N/A 1.15 1.15 1.15 0.90 5.02 197.73</u></div>
<div><u>Sarn-Eth N/A N/A 1.10N/A N/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 5.07 199.70</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 1.07 5.19 204.42</u></div>
<div><u>W O Feed 1.33 5.20 204.68</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.34 5.21 204.91</u></div>
<div><u>Toledo El. -0.01 3.85 151.65 -0.26 3.87 152.18</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 0.82 4.68 1/2 0.75 4.87 1/4</u></div>
<div><u>HI SD CRN 0.89 4.75 1/2 0.80 4.92 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 1.2844 up 0.0037</u></div>
<div><u>Chicago soybeans closed mixed.</u></div>
<div><u><br>
</u></div>
<div><u> MAY18 HI 10.33 1/4 NOV18 HI 10.39 1/4</u></div>
<div><u> LOW 10.20 1/2 LOW 10.27 1/4</u></div>
<div><u> CLOSE10.27 1/2 Up 5 1/4 CLOSE 10.34 3/4 Up 6</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 +MAY1+JUL1+JUL18</u></div>
<div><u>CK Low 2.30 12.58 462.052.40 12.75 468.39</u></div>
<div><u>CK High 2.40 12.68 465.732.48 12.83 471.33</u></div>
<div><u>CK Average 2.37 -0.4312.65 464.692.42 -0.4112.77 469.19</u></div>
<div><u>Essex Cty 2.50 12.78 469.402.45 12.80 470.23</u></div>
<div><u>Mdsx Low 2.38 12.66 464.992.45 12.80 470.23</u></div>
<div><u>Mdsx High 2.40 12.68 465.732.48 12.83 471.33</u></div>
<div><u>Mdsx Average 2.39 -0.4112.67 465.362.47 -0.3712.81 470.78</u></div>
<div><u>Hensall 2.40 12.68 465.732.48 12.82 471.15</u></div>
<div><u>Bruce 2.40 12.68 465.732.45 12.80 470.23</u></div>
<div><u>Putnam 2.40 12.68 465.732.50 12.85 472.06</u></div>
<div><u>Burford 2.45 12.73 467.562.55 12.90 473.90</u></div>
<div><u>Port Perry 2.35 12.63 463.892.45 12.80 470.23</u></div>
<div><u>Norfolk 2.40 12.68 465.732.50 12.85 472.06</u></div>
<div><u>Palmerston 2.15 12.43 456.542.40 12.75 468.39</u></div>
<div><u>Varna 2.40 12.68 465.732.50 12.85 472.06</u></div>
<div><u>Trenton 2.42 12.70 466.462.40 12.75 468.39</u></div>
<div><u>Winchester 2.29 12.57 461.682.34 12.69 466.19</u></div>
<div><u>North Gower 2.20 12.48 458.382.32 12.67 465.45</u></div>
<div><u>Huron FOB 2.50 12.78 469.402.60 12.95 475.74</u></div>
<div><u>Kent FOB 2.55 12.83 471.242.45 12.80 470.23</u></div>
<div><u>Lambton FOB 2.50 12.78 469.402.65 13.00 477.58</u></div>
<div><u>Middlesex FOB2.51 2.60 2.60 2.66 12.79 469.772.61 12.96 476.11</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton N/A 2.85 13.20 484.93</u></div>
<div><u>Prescott 2.10 12.38 454.702.63 12.98 476.84</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.27 10.01 367.63-0.32 10.03 368.41</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2844 up 0.0037</u></div>
<div><u>Chicago wheat closed higher.</u></div>
<div><u>MAY18 HI 4.88 1/2 JUL18 HI 5.01 1/2</u></div>
<div><u> LOW 4.72 1/4 LOW 4.84 1/2</u></div>
<div><u> CLOSE 4.86 1/4 Up 13 3/4 CLOSE 4.99 Up 14 3/4</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed moderately higher.</u></div>
<div><u>MAY18 HI 6.01 1/4 SEP18 HI 6.16 3/4</u></div>
<div><u> LOW 5.92 LOW 6.06 1/4</u></div>
<div><u> CLOSE 5.99 1/2 Up 6 3/4 CLOSE 6.14 1/4 Up 8</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 1.32 1.25 1.06 0.36</u></div>
<div><u>CAD $/bu 6.18 6.12 5.92 6.35</u></div>
<div><u>CAD $/tonne 227.13 224.77 217.69 233.38</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 0.95 N/A</u></div>
<div><u>London 1.17 1.23 0.97 N/A 1.26 1.07 1.00 N/A</u></div>
<div><u>Hensall 1.10 N/A 0.85 N/A 1.15 N/A 0.90 N/A</u></div>
<div><u>Trenton N/A N/A N/A N/A N/A N/A 1.00 N/A</u></div>
<div><u>Bruce 1.10 1.10 0.85 0.25 1.15 1.00 0.90 0.50</u></div>
<div><u>Essex N/A N/A 0.56 N/A N/A N/A 0.88 N/A</u></div>
<div><u>Norwich 1.10 N/A 0.85 N/A 1.15 N/A 0.90 N/A</u></div>
<div><u>Port Hope N/A N/A 0.85 N/A N/A 1.00 1.00 N/A</u></div>
<div><u>Kent Bridge 1.10 N/A 0.85 N/A 1.15 N/A 0.90 N/A</u></div>
<div><u>Chatham N/A N/A 0.95 N/A N/A N/A 0.95 N/A</u></div>
<div><u>Brigden N/A N/A 0.95 N/A N/A N/A 0.95 N/A</u></div>
<div><u>Palmerston N/A 1.00 0.90 0.25 N/A 0.90 0.85 0.35</u></div>
<div><u>Varna 1.25 1.20 0.95 N/A 1.10 1.10 0.95 N/A</u></div>
<div><u>Mitchell 1.10 1.10 0.85 N/A 1.15 1.00 0.90 N/A</u></div>
<div><u>Thornton N/A N/A N/A 1.33 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 1.10 0.96 0.12 N/A 1.21 1.15 0.24</u></div>
<div><u>W O Feed 1.46</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 1.68 N/A N/A N/A 1.55 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 5.04US 6.48CA 5.04US 6.47CA</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 1.29 1.16 1.10 0.33</u></div>
<div><u>CAD $/bu 6.28 6.15 6.09 6.48</u></div>
<div><u>CAD $/tonne 230.78 226.06 223.70 237.98</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 552.82</u></div>
<div><u>DDG's FOB Srn & Aylm 245.00 - 250.00</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" id="LPlnk262008" previewremoved="true"><span style="font-size:10.0pt;line-height:115%;
font-family:"Courier New";color:#336699;text-decoration:none;text-underline:
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" id="LPlnk643141" previewremoved="true"><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>
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