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<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Fri, May 25</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.2974 up 0.0093</u></div>
<div><u>Chicago corn closed slightly higher.</u></div>
<div><u><br>
</u></div>
<div><u> JUL18 HI 4.06 3/4 DEC18 HI 4.25 1/2</u></div>
<div><u> LOW 4.03 1/4 LOW 4.21 1/4</u></div>
<div><u> CLOSE4.06 Up 1 3/4 CLOSE 4.25 Up 2 1/2</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 4.91 193.30 0.75 5.00 196.84</u></div>
<div><u>CK High 0.85 4.91 193.30 0.80 5.05 198.81</u></div>
<div><u>CK Avg 0.85 -0.28 4.91 193.30 0.76 -0.39 5.01 197.17</u></div>
<div><u>Essex Cty 0.85 4.91 193.30 0.75 5.00 196.84</u></div>
<div><u>Mdsx Low 0.85 4.91 193.30 0.75 5.00 196.84</u></div>
<div><u>Mdsx High 0.85 4.91 193.30 0.75 5.00 196.84</u></div>
<div><u>Mdsx Avg 0.85 -0.28 4.91 193.30 0.75 -0.40 5.00 196.84</u></div>
<div><u>Hensall 0.85 4.91 193.30 0.75 5.00 196.84</u></div>
<div><u>Bruce 0.85 4.91 193.30 0.75 5.00 196.84</u></div>
<div><u>Putnam 0.85 4.91 193.30 0.75 5.00 196.84</u></div>
<div><u>Burford 0.85 4.91 193.30 0.80 5.05 198.81</u></div>
<div><u>Port Perry 0.85 4.91 193.30 0.85 5.10 200.78</u></div>
<div><u>Norfolk 0.85 4.91 193.30 0.75 5.00 196.84</u></div>
<div><u>Palmerston 0.85 4.91 193.30 0.75 5.00 196.84</u></div>
<div><u>Varna 0.85 4.91 193.30 0.75 5.00 196.84</u></div>
<div><u>Trenton 0.85 4.91 193.30 0.90 5.15 202.75</u></div>
<div><u>Winchester 1.05 5.11 201.17 1.10 5.35 210.62</u></div>
<div><u>North Gower 1.00 5.06 199.20 1.05 5.30 208.65</u></div>
<div><u>Huron FOB 1.05 5.11 201.17 0.80 5.05 198.81</u></div>
<div><u>Kent FOB 1.05 5.11 201.17 0.80 5.05 198.81</u></div>
<div><u>Lamb FOB 1.00 5.06 199.20 0.80 5.05 198.81</u></div>
<div><u>Mdsx FOB 0.90 0.90N/A N/A 4.96 195.27 0.80 5.05 198.81</u></div>
<div><u>FOB SW Que 1.34 5.40 212.59N/A</u></div>
<div><u>Track 1.30 5.36 211.01N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A N/A 1.19 0.90 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 N/A N/A N/A 1.25 1.00 5.25 206.68</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 N/A N/A 1.30 1.05 5.30 208.65</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 1.20 5.45 214.56</u></div>
<div><u>W O Feed 1.45 5.51 216.92</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.60 5.66 222.82</u></div>
<div><u>Toledo El. -0.06 4.00 157.28 -0.26 3.99 157.10</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 0.77 1/2 5.02 1/2</u></div>
<div><u>HI SD CRN 0.80 5.05</u></div>
<div><u>*Wet Bid</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2974 up 0.0093</u></div>
<div><u>Chicago soybeans closed slightly higher.</u></div>
<div><u><br>
</u></div>
<div><u> JUL18 HI 10.44 NOV18 HI 10.55 3/4</u></div>
<div><u> LOW 10.35 1/2 LOW 10.47</u></div>
<div><u> CLOSE10.41 1/2 Up 5 3/4 CLOSE 10.53 1/2 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 +JUL1+JUL1+SEP18</u></div>
<div><u>CK Low 2.50 12.92 474.552.50 13.04 478.95</u></div>
<div><u>CK High 2.60 13.02 478.222.55 13.09 480.79</u></div>
<div><u>CK Average 2.56 -0.4212.97 476.632.53 -0.4713.06 479.87</u></div>
<div><u>Essex Cty 2.55 12.97 476.382.45 12.99 477.12</u></div>
<div><u>Mdsx Low 2.55 12.97 476.382.50 13.04 478.95</u></div>
<div><u>Mdsx High 2.59 13.01 477.852.55 13.09 480.79</u></div>
<div><u>Mdsx Average 2.57 -0.4112.99 477.122.53 -0.4713.06 479.87</u></div>
<div><u>Hensall 2.55 12.97 476.382.55 13.09 480.79</u></div>
<div><u>Bruce 2.55 12.97 476.382.50 13.04 478.95</u></div>
<div><u>Putnam 2.50 12.92 474.552.50 13.04 478.95</u></div>
<div><u>Burford 2.66 13.08 480.422.57 13.11 481.53</u></div>
<div><u>Port Perry 2.56 12.98 476.752.47 13.01 477.85</u></div>
<div><u>Norfolk 2.60 13.02 478.222.55 13.09 480.79</u></div>
<div><u>Palmerston 2.55 12.97 476.382.60 13.14 482.63</u></div>
<div><u>Varna 2.55 12.97 476.382.55 13.09 480.79</u></div>
<div><u>Trenton 2.50 12.92 474.552.50 13.04 478.95</u></div>
<div><u>Winchester 2.39 12.81 470.502.53 13.07 480.06</u></div>
<div><u>North Gower 2.38 12.80 470.142.47 13.01 477.85</u></div>
<div><u>Huron FOB 2.65 13.07 480.062.65 13.19 484.47</u></div>
<div><u>Kent FOB 2.75 13.17 483.732.55 13.09 480.79</u></div>
<div><u>Lambton FOB 2.65 13.07 480.062.60 13.14 482.63</u></div>
<div><u>Middlesex FOB2.76 2.80 2.80 N/A 13.18 484.102.61 13.15 483.00</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Windsor 3.03 13.45 494.022.88 13.42 492.92</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton N/A 2.85 13.39 491.81</u></div>
<div><u>Prescott 2.51 12.93 474.912.92 13.46 494.39</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.26 10.16 373.15-0.32 10.21 375.18</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2974 up 0.0093</u></div>
<div><u>Chicago wheat closed higher.</u></div>
<div><u>JUL18 HI 5.44 3/4 JUL18 HI 5.44 3/4</u></div>
<div><u> LOW 5.28 1/4 LOW 5.28 1/4</u></div>
<div><u> CLOSE 5.43 Up 12 3/4 CLOSE 5.43 Up 12 3/4</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed moderately higher.</u></div>
<div><u>JUL18 HI 6.46 1/2 SEP18 HI 6.50</u></div>
<div><u> LOW 6.33 LOW 6.38 3/4</u></div>
<div><u> CLOSE 6.44 1/4 Up 9 1/2 CLOSE 6.48 3/4 Up 9</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 1.51 1.45 1.25 0.49</u></div>
<div><u>CAD $/bu 6.94 6.88 6.68 6.93</u></div>
<div><u>CAD $/tonne 255.05 252.67 245.51 254.69</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 1.20 1.46 1.00 N/A 1.25 1.25 1.06 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 1.05 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 1.25 1.15 0.95 N/A 1.25 1.25 1.05 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 0.90 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 1.16 0.97 0.21 N/A 1.45 1.39 0.38</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 1.81 N/A N/A N/A 1.81 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 5.53US 7.17CA 5.53US 7.17CA</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 1.49 1.42 1.36 0.50</u></div>
<div><u>CAD $/bu 6.92 6.85 6.79 6.99</u></div>
<div><u>CAD $/tonne 254.10 251.71 249.33 256.84</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 576.85</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="LPlnk420176" 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="LPlnk606962" 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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