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<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, May 24</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.2881 up 0.0040</u></div>
<div><u>Chicago corn closed slightly to moderately lower.</u></div>
<div><u><br>
</u></div>
<div><u> JUL18 HI 4.12 1/4 DEC18 HI 4.29 1/2</u></div>
<div><u> LOW 4.03 3/4 LOW 4.21 3/4</u></div>
<div><u> CLOSE4.04 1/4 Down 4 1/4 CLOSE 4.22 1/2 Down 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 0.85 4.89 192.61 0.75 4.98 195.86</u></div>
<div><u>CK High 0.85 4.89 192.61 0.80 5.03 197.83</u></div>
<div><u>CK Avg 0.85 -0.24 4.89 192.61 0.76 -0.36 4.98 196.19</u></div>
<div><u>Essex Cty 0.85 4.89 192.61 0.75 4.98 195.86</u></div>
<div><u>Mdsx Low 0.85 4.89 192.61 0.75 4.98 195.86</u></div>
<div><u>Mdsx High 0.85 4.89 192.61 0.75 4.98 195.86</u></div>
<div><u>Mdsx Avg 0.85 -0.24 4.89 192.61 0.75 -0.36 4.98 195.86</u></div>
<div><u>Hensall 0.85 4.89 192.61 0.75 4.98 195.86</u></div>
<div><u>Bruce 0.85 4.89 192.61 0.75 4.98 195.86</u></div>
<div><u>Putnam 0.85 4.89 192.61 0.75 4.98 195.86</u></div>
<div><u>Burford 0.85 4.89 192.61 0.80 5.03 197.83</u></div>
<div><u>Port Perry 0.85 4.89 192.61 0.85 5.08 199.79</u></div>
<div><u>Norfolk 0.85 4.89 192.61 0.75 4.98 195.86</u></div>
<div><u>Palmerston 0.85 4.89 192.61 0.75 4.98 195.86</u></div>
<div><u>Varna 0.85 4.89 192.61 0.75 4.98 195.86</u></div>
<div><u>Trenton 0.85 4.89 192.61 0.90 5.13 201.76</u></div>
<div><u>Winchester 1.00 5.04 198.51 1.05 5.28 207.67</u></div>
<div><u>North Gower 0.98 5.02 197.73 1.03 5.26 206.88</u></div>
<div><u>Huron FOB 1.05 5.09 200.48 0.85 5.08 199.79</u></div>
<div><u>Kent FOB 1.05 5.09 200.48 0.80 5.03 197.83</u></div>
<div><u>Lamb FOB 1.00 5.04 198.51 0.80 5.03 197.83</u></div>
<div><u>Mdsx FOB 0.90 0.90N/A N/A 4.94 194.58 0.80 5.03 197.83</u></div>
<div><u>FOB SW Que 1.34 5.38 211.90N/A</u></div>
<div><u>Track 1.30 5.34 210.32N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A N/A 1.19 0.90 5.13 201.76</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 5.23 205.70</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 1.05 5.28 207.67</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 5.33 209.64</u></div>
<div><u>W O Feed 1.44 5.48 215.68</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.52 5.56 218.99</u></div>
<div><u>Toledo El. -0.06 3.98 156.61 -0.26 3.97 156.19</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 0.77 1/2 5.00</u></div>
<div><u>HI SD CRN 0.80 5.02 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 1.2881 up 0.0040</u></div>
<div><u>Chicago soybeans closed slightly lower.</u></div>
<div><u><br>
</u></div>
<div><u> JUL18 HI 10.50 3/4 NOV18 HI 10.59 3/4</u></div>
<div><u> LOW 10.35 1/2 LOW 10.47</u></div>
<div><u> CLOSE10.35 3/4 Down 3 1/2 CLOSE 10.47 1/2 Down 1 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 12.71 466.922.40 12.88 473.08</u></div>
<div><u>CK High 2.50 12.86 472.432.46 12.94 475.28</u></div>
<div><u>CK Average 2.44 -0.4212.80 470.172.44 -0.4512.92 474.67</u></div>
<div><u>Essex Cty 2.35 12.71 466.922.35 12.83 471.24</u></div>
<div><u>Mdsx Low 2.48 12.84 471.702.46 12.94 475.28</u></div>
<div><u>Mdsx High 2.50 12.86 472.432.50 12.98 476.75</u></div>
<div><u>Mdsx Average 2.49 -0.3812.85 472.062.48 -0.4212.96 476.01</u></div>
<div><u>Hensall 2.45 12.81 470.602.48 12.95 475.83</u></div>
<div><u>Bruce 2.50 12.86 472.432.45 12.93 474.91</u></div>
<div><u>Putnam 2.50 12.86 472.432.50 12.98 476.75</u></div>
<div><u>Burford 2.55 12.91 474.272.53 13.01 477.85</u></div>
<div><u>Port Perry 2.45 12.81 470.602.43 12.91 474.18</u></div>
<div><u>Norfolk 2.40 12.76 468.762.45 12.93 474.91</u></div>
<div><u>Palmerston 2.40 12.76 468.762.50 12.98 476.75</u></div>
<div><u>Varna 2.40 12.76 468.762.45 12.93 474.91</u></div>
<div><u>Trenton 2.45 12.81 470.602.45 12.93 474.91</u></div>
<div><u>Winchester 2.29 12.65 464.722.43 12.91 474.18</u></div>
<div><u>North Gower 2.32 12.68 465.822.42 12.90 473.81</u></div>
<div><u>Huron FOB 2.50 12.86 472.432.55 13.03 478.59</u></div>
<div><u>Kent FOB 2.55 12.91 474.272.45 12.93 474.91</u></div>
<div><u>Lambton FOB 2.65 13.01 477.942.60 13.08 480.42</u></div>
<div><u>Middlesex FOB2.71 2.76 2.76 N/A 13.07 480.152.63 13.11 481.53</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Windsor 2.92 13.28 487.862.76 13.24 486.30</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton N/A 2.85 13.33 489.61</u></div>
<div><u>Prescott 2.40 12.76 468.762.93 13.41 492.55</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.26 10.10 371.11-0.32 10.15 373.06</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2881 up 0.0040</u></div>
<div><u>Chicago wheat closed slightly lower.</u></div>
<div><u>JUL18 HI 5.45 1/4 JUL18 HI 5.45 1/4</u></div>
<div><u> LOW 5.29 1/4 LOW 5.29 1/4</u></div>
<div><u> CLOSE 5.30 1/4 Down 3/4 CLOSE 5.30 1/4 Down 3/4</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed moderately lower.</u></div>
<div><u>JUL18 HI 6.51 SEP18 HI 6.53 3/4</u></div>
<div><u> LOW 6.33 LOW 6.38</u></div>
<div><u> CLOSE 6.34 3/4 Down 7 1/4 CLOSE 6.39 3/4 Down 7</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 1.42 1.36 1.17 0.41</u></div>
<div><u>CAD $/bu 6.73 6.66 6.47 6.76</u></div>
<div><u>CAD $/tonne 247.17 244.81 237.71 248.36</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 1.05 N/A</u></div>
<div><u>London 1.23 1.42 0.97 N/A 1.28 1.28 1.09 N/A</u></div>
<div><u>Hensall 1.10 N/A 0.90 N/A 1.15 N/A 1.05 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 0.90 N/A 1.15 1.15 1.05 0.50</u></div>
<div><u>Essex N/A N/A 0.88 N/A N/A N/A 1.09 N/A</u></div>
<div><u>Norwich 1.10 N/A 0.90 N/A 1.15 N/A 1.05 N/A</u></div>
<div><u>Port Hope N/A N/A 0.90 N/A N/A 1.05 1.05 N/A</u></div>
<div><u>Kent Bridge 1.10 N/A 0.90 N/A 1.15 N/A 1.05 N/A</u></div>
<div><u>Chatham N/A N/A 0.90 N/A N/A N/A 1.05 N/A</u></div>
<div><u>Brigden N/A N/A 0.90 N/A N/A N/A 1.05 N/A</u></div>
<div><u>Palmerston N/A 1.00 0.90 0.35 N/A 1.10 1.00 0.55</u></div>
<div><u>Varna 1.20 1.10 0.90 N/A 1.20 1.20 1.00 N/A</u></div>
<div><u>Mitchell 1.10 1.10 0.90 N/A 1.15 1.15 1.05 N/A</u></div>
<div><u>Thornton N/A N/A N/A 1.08 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 1.14 0.95 0.21 N/A 1.44 1.37 0.37</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 1.72 N/A N/A N/A 1.72 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 5.40US 6.96CA 5.40US 6.96CA</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 1.40 1.33 1.27 0.43</u></div>
<div><u>CAD $/bu 6.70 6.64 6.57 6.82</u></div>
<div><u>CAD $/tonne 246.23 243.86 241.50 250.72</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 573.54</u></div>
<div><u>DDG's FOB Srn & Aylm 260.00 - 265.00</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="LPlnk232126" 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>
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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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