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<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, May 16</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.2775 down 0.0078</u></div>
<div><u>Chicago corn closed slightly lower.</u></div>
<div><u><br>
</u></div>
<div><u> JUL18 HI 4.04 3/4 DEC18 HI 4.21 1/2</u></div>
<div><u> LOW 3.98 LOW 4.15 1/2</u></div>
<div><u> CLOSE3.99 1/4 Down 3 CLOSE 4.17 Down 2 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 +JUL18+SEP18+SEP18</u></div>
<div><u>CK Low 0.75 4.74 186.70 0.75 4.92 193.69</u></div>
<div><u>CK High 0.85 4.84 190.64 0.80 4.97 195.66</u></div>
<div><u>CK Avg 0.83 -0.22 4.82 189.66 0.76 -0.31 4.93 194.02</u></div>
<div><u>Essex Cty 0.85 4.84 190.64 0.75 4.92 193.69</u></div>
<div><u>Mdsx Low 0.85 4.84 190.64 0.75 4.92 193.69</u></div>
<div><u>Mdsx High 0.85 4.84 190.64 0.75 4.92 193.69</u></div>
<div><u>Mdsx Avg 0.85 -0.20 4.84 190.64 0.75 -0.32 4.92 193.69</u></div>
<div><u>Hensall 0.85 4.84 190.64 0.78 4.95 194.68</u></div>
<div><u>Bruce 0.85 4.84 190.64 0.75 4.92 193.69</u></div>
<div><u>Putnam 0.85 4.84 190.64 0.75 4.92 193.69</u></div>
<div><u>Burford 0.85 4.84 190.64 0.80 4.97 195.66</u></div>
<div><u>Port Perry 0.85 4.84 190.64 0.75 4.92 193.69</u></div>
<div><u>Norfolk 0.85 4.84 190.64 0.75 4.92 193.69</u></div>
<div><u>Palmerston 0.75 4.74 186.70 0.75 4.92 193.69</u></div>
<div><u>Varna 0.85 4.84 190.64 0.80 4.97 195.66</u></div>
<div><u>Trenton 0.85 4.84 190.64 0.90 5.07 199.60</u></div>
<div><u>Winchester 1.00 4.99 196.55 1.11 5.28 207.86</u></div>
<div><u>North Gower 0.94 4.93 194.18 1.00 5.17 203.53</u></div>
<div><u>Huron FOB 1.05 5.04 198.51 0.80 4.97 195.66</u></div>
<div><u>Kent FOB 1.05 5.04 198.51 0.80 4.97 195.66</u></div>
<div><u>Lamb FOB 1.00 4.99 196.55 0.80 4.97 195.66</u></div>
<div><u>Mdsx FOB 0.90 0.90N/A N/A 4.89 192.61 0.80 4.97 195.66</u></div>
<div><u>FOB SW Que 1.34 5.33 209.93N/A</u></div>
<div><u>Track 1.33 5.32 209.34N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A N/A 1.26 0.98 5.15 202.75</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A N/A N/A</u></div>
<div><u>Aylmer-Eth 1.20 1.20 1.20 1.25 5.19 204.42 1.00 5.17 203.53</u></div>
<div><u>Sarn-Eth N/A 1.15 1.20 1.25 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 1.25N/A 1.30 0.95 5.12 201.57</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 5.27 207.47</u></div>
<div><u>W O Feed 1.42 5.41 212.92</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.49 5.48 215.84</u></div>
<div><u>Toledo El. -0.09 3.90 153.66 -0.26 3.91 154.11</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 0.77 1/2 4.94 1/2</u></div>
<div><u>HI SD CRN 0.80 4.97</u></div>
<div><u>*Wet Bid</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2775 down 0.0078</u></div>
<div><u>Chicago soybeans closed slightly to moderately lower.</u></div>
<div><u><br>
</u></div>
<div><u> JUL18 HI 10.18 1/2 NOV18 HI 10.24 3/4</u></div>
<div><u> LOW 9.98 3/4 LOW 10.08 1/4</u></div>
<div><u> CLOSE9.99 3/4 Down 19 CLOSE 10.09 Down 15 3/4</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 +JUL1+JUL1+SEP18</u></div>
<div><u>CK Low 2.35 12.35 453.692.40 12.49 458.93</u></div>
<div><u>CK High 2.41 12.41 455.902.45 12.54 460.77</u></div>
<div><u>CK Average 2.39 -0.3112.38 454.982.42 -0.3012.51 459.48</u></div>
<div><u>Essex Cty 2.30 12.30 451.862.35 12.44 457.09</u></div>
<div><u>Mdsx Low 2.40 12.40 455.532.44 12.53 460.40</u></div>
<div><u>Mdsx High 2.41 12.41 455.902.45 12.54 460.77</u></div>
<div><u>Mdsx Average 2.41 -0.2912.40 455.712.45 -0.2812.54 460.58</u></div>
<div><u>Hensall 2.40 12.40 455.532.45 12.54 460.77</u></div>
<div><u>Bruce 2.40 12.40 455.532.40 12.49 458.93</u></div>
<div><u>Putnam 2.30 12.30 451.862.40 12.49 458.93</u></div>
<div><u>Burford 2.48 12.48 458.472.51 12.60 462.97</u></div>
<div><u>Port Perry 2.38 12.38 454.802.41 12.50 459.30</u></div>
<div><u>Norfolk 2.35 12.35 453.692.45 12.54 460.77</u></div>
<div><u>Palmerston 2.40 12.40 455.532.50 12.59 462.60</u></div>
<div><u>Varna 2.40 12.40 455.532.45 12.54 460.77</u></div>
<div><u>Trenton 2.40 12.40 455.532.45 12.54 460.77</u></div>
<div><u>Winchester 2.30 12.30 451.862.50 12.59 462.60</u></div>
<div><u>North Gower 2.25 12.25 450.022.40 12.49 458.93</u></div>
<div><u>Huron FOB 2.50 12.50 459.202.55 12.64 464.44</u></div>
<div><u>Kent FOB 2.50 12.50 459.202.40 12.49 458.93</u></div>
<div><u>Lambton FOB 2.60 12.60 462.882.50 12.59 462.60</u></div>
<div><u>Middlesex FOB2.54 2.59 2.59 N/A 12.54 460.672.51 12.60 462.97</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Windsor 2.59 12.59 462.512.68 12.77 469.22</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton N/A 2.75 12.84 471.79</u></div>
<div><u>Prescott 2.23 12.23 449.282.75 12.84 471.79</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.26 9.74 357.96-0.32 9.77 359.01</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2775 down 0.0078</u></div>
<div><u>Chicago wheat closed slightly higher.</u></div>
<div><u>JUL18 HI 4.98 3/4 JUL18 HI 4.98 3/4</u></div>
<div><u> LOW 4.91 LOW 4.91</u></div>
<div><u> CLOSE 4.94 1/4 Up 3/4 CLOSE 4.94 1/4 Up 3/4</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly higher.</u></div>
<div><u>JUL18 HI 6.12 3/4 SEP18 HI 6.20 1/4</u></div>
<div><u> LOW 6.05 1/2 LOW 6.13 1/4</u></div>
<div><u> CLOSE 6.11 1/4 Up 5 CLOSE 6.17 3/4 Up 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 1.27 1.21 1.01 0.29</u></div>
<div><u>CAD $/bu 6.21 6.15 5.96 6.40</u></div>
<div><u>CAD $/tonne 228.25 225.91 218.87 235.30</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 0.95 N/A</u></div>
<div><u>London 1.07 1.27 0.82 N/A 1.13 1.07 0.94 N/A</u></div>
<div><u>Hensall 1.05 N/A 0.80 N/A 1.10 N/A 0.95 N/A</u></div>
<div><u>Trenton N/A N/A N/A N/A N/A N/A 0.95 N/A</u></div>
<div><u>Bruce 1.05 1.05 0.80 N/A 1.10 1.15 0.95 0.50</u></div>
<div><u>Essex N/A N/A 0.74 N/A N/A N/A 0.90 N/A</u></div>
<div><u>Norwich 1.05 N/A 0.80 N/A 1.10 N/A 0.95 N/A</u></div>
<div><u>Port Hope N/A N/A 0.80 N/A N/A 1.00 1.00 N/A</u></div>
<div><u>Kent Bridge 1.05 N/A 0.80 N/A 1.10 N/A 0.95 N/A</u></div>
<div><u>Chatham N/A N/A 0.80 N/A N/A N/A 0.95 N/A</u></div>
<div><u>Brigden N/A N/A 0.80 N/A N/A N/A 0.95 N/A</u></div>
<div><u>Palmerston N/A 1.00 0.90 0.35 N/A 1.05 0.95 0.55</u></div>
<div><u>Varna 1.15 1.05 0.85 N/A 1.15 1.15 0.95 N/A</u></div>
<div><u>Mitchell 1.05 1.05 0.80 N/A 1.10 1.15 0.95 N/A</u></div>
<div><u>Thornton N/A N/A N/A 1.31 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 1.14 1.00 0.12 N/A 1.33 1.26 0.29</u></div>
<div><u>W O Feed 1.50</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 1.50 N/A N/A N/A 1.50 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 5.04US 6.44CA 5.04US 6.44CA</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 1.24 1.18 1.12 0.31</u></div>
<div><u>CAD $/bu 6.19 6.12 6.06 6.49</u></div>
<div><u>CAD $/tonne 227.32 224.97 222.62 238.35</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 568.36</u></div>
<div><u>DDG's FOB Srn & Aylm 260.00 - 265.00</u></div>
<div><u><br>
</u></div>
<p></p>
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<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>
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