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<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Tue, May 22</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.2799 down 0.0003</u></div>
<div><u>Chicago corn closed slightly higher.</u></div>
<div><u><br>
</u></div>
<div><u> JUL18 HI 4.07 DEC18 HI 4.25</u></div>
<div><u> LOW 4.01 LOW 4.19 1/4</u></div>
<div><u> CLOSE4.04 3/4 Up 2 CLOSE 4.23 1/4 Up 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 4.80 188.87 0.75 4.98 196.15</u></div>
<div><u>CK High 0.85 4.90 192.81 0.80 5.03 198.12</u></div>
<div><u>CK Avg 0.83 -0.23 4.88 192.15 0.76 -0.33 4.99 196.48</u></div>
<div><u>Essex Cty 0.85 4.90 192.81 0.75 4.98 196.15</u></div>
<div><u>Mdsx Low 0.85 4.90 192.81 0.75 4.98 196.15</u></div>
<div><u>Mdsx High 0.85 4.90 192.81 0.75 4.98 196.15</u></div>
<div><u>Mdsx Avg 0.85 -0.22 4.90 192.81 0.75 -0.34 4.98 196.15</u></div>
<div><u>Hensall 0.85 4.90 192.81 0.75 4.98 196.15</u></div>
<div><u>Bruce 0.85 4.90 192.81 0.75 4.98 196.15</u></div>
<div><u>Putnam 0.85 4.90 192.81 0.75 4.98 196.15</u></div>
<div><u>Burford 0.85 4.90 192.81 0.80 5.03 198.12</u></div>
<div><u>Port Perry 0.85 4.90 192.81 0.80 5.03 198.12</u></div>
<div><u>Norfolk 0.85 4.90 192.81 0.75 4.98 196.15</u></div>
<div><u>Palmerston 0.75 4.80 188.87 0.75 4.98 196.15</u></div>
<div><u>Varna 0.85 4.90 192.81 0.75 4.98 196.15</u></div>
<div><u>Trenton 0.85 4.90 192.81 0.90 5.13 202.06</u></div>
<div><u>Winchester 1.04 5.09 200.29 1.10 5.33 209.93</u></div>
<div><u>North Gower 0.94 4.99 196.35 1.00 5.23 205.99</u></div>
<div><u>Huron FOB 1.05 5.10 200.68 0.85 5.08 200.09</u></div>
<div><u>Kent FOB 1.05 5.10 200.68 0.80 5.03 198.12</u></div>
<div><u>Lamb FOB 1.00 5.05 198.71 0.80 5.03 198.12</u></div>
<div><u>Mdsx FOB 0.90 0.90N/A N/A 4.95 194.77 0.80 5.03 198.12</u></div>
<div><u>FOB SW Que 1.38 5.43 213.67N/A</u></div>
<div><u>Track 1.30 5.35 210.52N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A N/A 1.19 0.90 5.13 202.06</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A N/A N/A</u></div>
<div><u>Aylmer-Eth N/A 1.20 1.20 1.25 1.00 5.23 205.99</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 1.00 5.23 205.99</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 5.33 209.93</u></div>
<div><u>W O Feed 1.43 5.47 215.48</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.52 5.57 219.18</u></div>
<div><u>Toledo El. -0.06 3.98 156.82 -0.26 3.98 156.55</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 0.77 1/2 5.00 3/4</u></div>
<div><u>HI SD CRN 0.80 5.03 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 1.2799 down 0.0003</u></div>
<div><u>Chicago soybeans closed slightly higher.</u></div>
<div><u><br>
</u></div>
<div><u> JUL18 HI 10.36 NOV18 HI 10.43 3/4</u></div>
<div><u> LOW 10.20 1/4 LOW 10.28 1/2</u></div>
<div><u> CLOSE10.30 1/2 Up 5 1/4 CLOSE 10.39 Up 5 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 +JUL1+JUL1+SEP18</u></div>
<div><u>CK Low 2.35 12.66 464.992.34 12.73 467.75</u></div>
<div><u>CK High 2.40 12.71 466.832.45 12.84 471.79</u></div>
<div><u>CK Average 2.36 -0.4112.67 465.422.38 -0.4112.77 469.28</u></div>
<div><u>Essex Cty 2.30 12.61 463.152.35 12.74 468.11</u></div>
<div><u>Mdsx Low 2.35 12.66 464.992.34 12.73 467.75</u></div>
<div><u>Mdsx High 2.37 12.68 465.732.40 12.79 469.95</u></div>
<div><u>Mdsx Average 2.36 -0.4112.67 465.362.37 -0.4212.76 468.85</u></div>
<div><u>Hensall 2.35 12.66 464.992.40 12.79 469.95</u></div>
<div><u>Bruce 2.35 12.66 464.992.35 12.74 468.11</u></div>
<div><u>Putnam 2.40 12.71 466.832.45 12.84 471.79</u></div>
<div><u>Burford 2.44 12.75 468.302.41 12.80 470.32</u></div>
<div><u>Port Perry 2.34 12.65 464.622.31 12.70 466.65</u></div>
<div><u>Norfolk 2.35 12.66 464.992.45 12.84 471.79</u></div>
<div><u>Palmerston 2.40 12.71 466.832.50 12.89 473.63</u></div>
<div><u>Varna 2.35 12.66 464.992.40 12.79 469.95</u></div>
<div><u>Trenton 2.35 12.66 464.992.35 12.74 468.11</u></div>
<div><u>Winchester 2.17 12.48 458.382.29 12.68 465.91</u></div>
<div><u>North Gower 2.18 12.49 458.752.25 12.64 464.44</u></div>
<div><u>Huron FOB 2.45 12.76 468.672.50 12.89 473.63</u></div>
<div><u>Kent FOB 2.50 12.81 470.502.40 12.79 469.95</u></div>
<div><u>Lambton FOB 2.45 12.76 468.672.45 12.84 471.79</u></div>
<div><u>Middlesex FOB2.54 2.59 2.59 N/A 12.85 471.972.45 12.84 471.79</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Windsor 2.82 13.13 482.262.65 13.04 479.14</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton N/A 2.75 13.14 482.81</u></div>
<div><u>Prescott 2.23 12.54 460.582.75 13.14 482.81</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.26 10.05 369.24-0.32 10.07 370.01</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2799 down 0.0003</u></div>
<div><u>Chicago wheat closed higher.</u></div>
<div><u>JUL18 HI 5.30 1/4 JUL18 HI 5.30 1/4</u></div>
<div><u> LOW 5.02 3/4 LOW 5.02 3/4</u></div>
<div><u> CLOSE 5.21 1/2 Up 14 1/4 CLOSE 5.21 1/2 Up 14 1/4</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed higher.</u></div>
<div><u>JUL18 HI 6.40 1/4 SEP18 HI 6.45 3/4</u></div>
<div><u> LOW 6.19 1/2 LOW 6.26 1/2</u></div>
<div><u> CLOSE 6.33 Up 11 1/4 CLOSE 6.38 3/4 Up 10 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 1.36 1.29 1.10 0.36</u></div>
<div><u>CAD $/bu 6.57 6.51 6.32 6.69</u></div>
<div><u>CAD $/tonne 241.49 239.14 232.09 245.96</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 1.11 1.30 0.85 N/A 1.16 1.16 0.97 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 0.82 N/A N/A N/A 1.03 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 0.85 N/A N/A N/A 1.00 N/A</u></div>
<div><u>Brigden N/A N/A 0.85 N/A N/A N/A 1.00 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 1.10 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 0.89 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 1.03 0.83 0.11 N/A 1.32 1.26 0.28</u></div>
<div><u>W O Feed 1.53</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 1.65 N/A N/A N/A 1.65 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 5.32US 6.80CA 5.32US 6.80CA</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 1.33 1.27 1.20 0.38</u></div>
<div><u>CAD $/bu 6.55 6.48 6.42 6.77</u></div>
<div><u>CAD $/tonne 240.55 238.20 235.85 248.67</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 571.56</u></div>
<div><u>DDG's FOB Srn & Aylm 260.00 - 265.00</u></div>
<div><u><br>
</u></div>
<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="LPlnk287547" class="OWAAutoLink" 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="LPlnk114106" class="OWAAutoLink" 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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<span style="background: rgb(253, 253, 253);">Grain Farmers of Ontario<u><o:p></o:p></u></span></span></p>
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