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<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, June 14</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.3092 up 0.0054</u></div>
<div><u>Chicago corn closed lower.</u></div>
<div><u><br>
</u></div>
<div><u> JUL18 HI 3.74 3/4 DEC18 HI 3.95 1/2</u></div>
<div><u> LOW 3.62 1/2 LOW 3.84</u></div>
<div><u> CLOSE3.63 Down 13 CLOSE 3.84 1/2 Down 12 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 +SEP18+SEP18+DEC18</u></div>
<div><u>CK Low 0.85 4.48 176.37 0.75 4.60 180.90</u></div>
<div><u>CK High 0.90 4.53 178.34 0.90 4.75 186.80</u></div>
<div><u>CK Avg 0.89 -0.18 4.52 178.01 0.78 -0.32 4.62 181.88</u></div>
<div><u>Essex Cty 0.90 4.53 178.34 0.75 4.60 180.90</u></div>
<div><u>Mdsx Low 0.90 4.53 178.34 0.75 4.60 180.90</u></div>
<div><u>Mdsx High 0.90 4.53 178.34 0.75 4.60 180.90</u></div>
<div><u>Mdsx Avg 0.90 -0.17 4.53 178.34 0.75 -0.34 4.60 180.90</u></div>
<div><u>Hensall 0.90 4.53 178.34 0.75 4.60 180.90</u></div>
<div><u>Bruce 0.90 4.53 178.34 0.75 4.60 180.90</u></div>
<div><u>Putnam 0.90 4.53 178.34 0.75 4.60 180.90</u></div>
<div><u>Burford 0.90 4.53 178.34 0.75 4.60 180.90</u></div>
<div><u>Port Perry 0.90 4.53 178.34 0.85 4.70 184.83</u></div>
<div><u>Norfolk 0.90 4.53 178.34 0.75 4.60 180.90</u></div>
<div><u>Palmerston 0.90 4.53 178.34 0.75 4.60 180.90</u></div>
<div><u>Varna 0.90 4.53 178.34 0.75 4.60 180.90</u></div>
<div><u>Trenton 0.90 4.53 178.34 0.90 4.75 186.80</u></div>
<div><u>Winchester 1.08 4.71 185.42 1.14 4.99 196.25</u></div>
<div><u>North Gower 1.05 4.68 184.24 1.15 5.00 196.64</u></div>
<div><u>Huron FOB 1.03 4.66 183.46 0.80 4.65 182.87</u></div>
<div><u>Kent FOB 1.05 4.68 184.24 0.83 4.68 184.05</u></div>
<div><u>Lamb FOB 1.10 4.73 186.21 0.80 4.65 182.87</u></div>
<div><u>Mdsx FOB 0.95 1.10N/A N/A 4.58 180.31 0.85 4.70 184.83</u></div>
<div><u>FOB SW Que 1.65 5.28 207.86N/A</u></div>
<div><u>Track 1.30 4.93 194.09N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A N/A N/A 1.00 4.85 190.74</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A N/A 1.10 4.95 194.68</u></div>
<div><u>Aylmer-Eth N/A N/A 1.30 1.30 1.00 4.85 190.74</u></div>
<div><u>Sarn-Eth 1.15 1.20 1.25N/A 4.78 188.18N/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 1.35 1.35 1.10 4.95 194.68</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 5.05 198.61</u></div>
<div><u>W O Feed 1.44 5.07 199.44</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.53 5.16 203.14</u></div>
<div><u>Toledo El. -0.07 3.56 140.33 -0.26 3.58 141.06</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 0.82 1/2 4.67</u></div>
<div><u>HI SD CRN 0.90 4.74 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 1.3092 up 0.0054</u></div>
<div><u>Chicago soybeans closed slightly lower.</u></div>
<div><u><br>
</u></div>
<div><u> JUL18 HI 9.37 3/4 NOV18 HI 9.60</u></div>
<div><u> LOW 9.24 LOW 9.46 1/2</u></div>
<div><u> CLOSE9.27 1/4 Down 8 3/4 CLOSE 9.50 Down 8 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+AUG1+NOV18</u></div>
<div><u>CK Low 2.35 11.62 427.052.25 11.75 431.74</u></div>
<div><u>CK High 2.40 11.67 428.892.40 11.90 437.25</u></div>
<div><u>CK Average 2.36 -0.3911.63 427.422.30 -0.4911.80 433.64</u></div>
<div><u>Essex Cty 2.35 11.62 427.052.20 11.70 429.90</u></div>
<div><u>Mdsx Low 2.35 11.62 427.052.26 11.76 432.11</u></div>
<div><u>Mdsx High 2.36 11.63 427.422.30 11.80 433.58</u></div>
<div><u>Mdsx Average 2.36 -0.3911.63 427.242.28 -0.5011.78 432.84</u></div>
<div><u>Hensall 2.38 11.65 427.972.30 11.80 433.58</u></div>
<div><u>Bruce 2.35 11.62 427.052.30 11.80 433.58</u></div>
<div><u>Putnam 2.50 11.77 432.572.40 11.90 437.25</u></div>
<div><u>Burford 2.43 11.70 429.992.33 11.83 434.68</u></div>
<div><u>Port Perry 2.33 11.60 426.322.23 11.73 431.00</u></div>
<div><u>Norfolk 2.40 11.67 428.892.30 11.80 433.58</u></div>
<div><u>Palmerston 2.45 11.72 430.732.40 11.90 437.25</u></div>
<div><u>Varna 2.45 11.72 430.732.35 11.85 435.41</u></div>
<div><u>Trenton 2.35 11.62 427.052.30 11.80 433.58</u></div>
<div><u>Winchester 2.21 11.48 421.912.29 11.79 433.21</u></div>
<div><u>North Gower 2.24 11.51 423.012.28 11.78 432.84</u></div>
<div><u>Huron FOB 2.50 11.77 432.572.40 11.90 437.25</u></div>
<div><u>Kent FOB 2.45 11.72 430.732.30 11.80 433.58</u></div>
<div><u>Lambton FOB 2.45 11.72 430.732.30 11.80 433.58</u></div>
<div><u>Middlesex FOB2.53 2.60 2.60 N/A 11.80 433.672.37 11.87 436.15</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Windsor 2.93 12.20 448.372.64 12.14 446.07</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton N/A 2.60 12.10 444.60</u></div>
<div><u>Prescott 2.31 11.58 425.582.75 12.25 450.11</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.20 9.08 333.49-0.33 9.17 337.04</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.3092 up 0.0054</u></div>
<div><u>Chicago wheat closed lower.</u></div>
<div><u>JUL18 HI 5.17 JUL18 HI 5.17</u></div>
<div><u> LOW 4.98 1/4 LOW 4.98 1/4</u></div>
<div><u> CLOSE 5.01 1/2 Down 15 CLOSE 5.01 1/2 Down 15</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed moderately lower.</u></div>
<div><u>JUL18 HI 5.85 1/4 SEP18 HI 5.98 1/2</u></div>
<div><u> LOW 5.75 LOW 5.87 1/4</u></div>
<div><u> CLOSE 5.77 1/2 Down 7 CLOSE 5.89 3/4 Down 7 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 1.45 1.38 1.18 0.35</u></div>
<div><u>CAD $/bu 6.46 6.40 6.20 6.12</u></div>
<div><u>CAD $/tonne 237.41 235.00 227.78 224.90</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 1.05 N/A N/A N/A 1.10 N/A</u></div>
<div><u>London 1.04 1.36 1.04 N/A 1.16 1.16 1.03 N/A</u></div>
<div><u>Hensall 1.15 N/A 1.05 N/A 1.20 N/A 1.10 N/A</u></div>
<div><u>Trenton N/A N/A N/A N/A N/A N/A 1.10 N/A</u></div>
<div><u>Bruce 1.15 1.15 1.05 N/A 1.20 1.20 1.10 0.55</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 1.15 N/A 1.05 N/A 1.20 N/A 1.10 N/A</u></div>
<div><u>Port Hope N/A N/A 1.05 N/A N/A 1.10 1.10 N/A</u></div>
<div><u>Kent Bridge 1.15 N/A 1.05 N/A 1.20 N/A 1.10 N/A</u></div>
<div><u>Chatham N/A N/A 1.00 N/A N/A N/A 1.05 N/A</u></div>
<div><u>Brigden N/A N/A 1.00 N/A N/A N/A 1.05 N/A</u></div>
<div><u>Palmerston N/A 1.00 1.00 0.35 N/A 1.10 1.05 0.55</u></div>
<div><u>Varna 1.35 1.25 1.05 N/A 1.30 1.30 1.10 N/A</u></div>
<div><u>Mitchell 1.15 1.15 1.05 N/A 1.20 1.20 1.10 N/A</u></div>
<div><u>Thornton N/A N/A N/A 0.41 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 1.20 1.00 0.14 N/A 1.51 1.37 0.28</u></div>
<div><u>W O Feed 1.57</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. 5.12US 6.70CA 5.12US 6.70CA</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 1.42 1.49 1.39 0.38</u></div>
<div><u>CAD $/bu 6.43 6.50 6.41 6.28</u></div>
<div><u>CAD $/tonne 236.44 238.85 235.48 230.79</u></div>
<div><u><br>
</u></div>
<div><u>(C)-Basis over the Chicago Board of Trade futures</u></div>
<div><u>(M)-Basis over the Minneapolis Grain Exchange</u></div>
<div><u><br>
</u></div>
<div><u>FEED GRAINS</u></div>
<div><u>FOB Hm Soymeal 523.83</u></div>
<div><u>DDG's FOB Srn & Aylm 265.00</u></div>
<div><br>
</div>
<div>---</div>
<div>Ontario Grain Market Commentary for June 13, 2018</div>
<div>By Marty Hibbs, Grain Farmers of Ontario</div>
<div><br>
</div>
<div>
<div>Wednesday, June 13, 2018 Closing Prices </div>
<div>COMMODITY<span style="white-space:pre"> </span>PERIOD<span style="white-space:pre">
</span>PRICE<span style="white-space:pre"> </span>WEEKLY MOVEMENT</div>
<div>Corn CBOT<span style="white-space:pre"> </span>July<span style="white-space:pre">
</span>3.76<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre"> </span>
02<span style="white-space:pre"> </span>cents</div>
<div>Soybeans CBOT<span style="white-space:pre"> </span>July<span style="white-space:pre">
</span>9.36<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre"> </span>
58<span style="white-space:pre"> </span>cents</div>
<div>Wheat CBOT<span style="white-space:pre"> </span>July<span style="white-space:pre">
</span>5.17<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre"> </span>
03<span style="white-space:pre"> </span>cents</div>
<div>Wheat Minn.<span style="white-space:pre"> </span>July<span style="white-space:pre">
</span>5.84<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre"> </span>
13<span style="white-space:pre"> </span>cents</div>
<div>Wheat Kansas<span style="white-space:pre"> </span>July<span style="white-space:pre">
</span>5.40<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre"> </span>
01<span style="white-space:pre"> </span>cents</div>
<div>Chicago Oats<span style="white-space:pre"> </span>July<span style="white-space:pre">
</span>2.32<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre"> </span>
08<span style="white-space:pre"> </span>cents </div>
<div><span style="white-space:pre"></span></div>
<div>Canadian $<span style="white-space:pre"> </span>June<span style="white-space:pre">
</span>.7680<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre">
</span>0.41<span style="white-space:pre"> </span>points</div>
<div><br>
</div>
<div>Corn: </div>
<div>The correction continued this week as we reached our downside target of $3.65 as suggested in last week$B!G(Bs commentary. The corn chart still looks weak and even if we bounce from these levels, there is a very good chance we will revisit them again in the
coming weeks. This action has now given us a new overhead resistance for the short term. The $3.90 level on the July contract is the new resistance level and my guess is that we will move higher to that level before we re-test the recent lows of the $3.55
- $3.65 zone. <span style="font-size: 10pt;">Our short term indicator is still bearish while our intermediate remains slightly bullish. All of this really doesn$B!G(Bt matter as long as the long term trend is still negative. </span><span style="font-size: 10pt;">A
definitive close above $4.50 will confirm the primary trend moving from neutral to bullish mode. </span><span style="font-size: 10pt;">Current overhead resistance is still seen at the $3.90 - $4 level on July, while support is seen at the $3.55 - $3.65 level.</span></div>
<div><br>
</div>
<div>Soybeans: </div>
<div>Soybeans were under attack and we did indeed dropped back to the $9.40 level as the July futures are testing the support level and an intermediate trend line. The charts are proving to be negative in the near term as we received a short term red sell signal
on the re-test of the $9.40 trend line. This does not look promising as we may now see more selling which could move us back towards the 2017 lows near $9 and possibly even the long anticipated $8.50 lows of 2016. </div>
<div>Short term indicators are negative, while the intermediate trend, as indicated on the weekly chart, is neutral to bullish. The primary trend needs to see a close above the $10.80 level on the lead month futures contract to reverse the six-year-old bear
market in soybeans. Until we have a convincing close above that level, the primary trend remains down. </div>
<div><br>
</div>
<div>Wheat:</div>
<div>Our May 30 commentary suggested that the $5.55 area would result in stiff resistance and that we would pull back to the $4.80 - $5 level before another attempt at the $5.55 level. <span style="font-size: 10pt;">We closed June 13 at $5.17 and it looks like
we may see the $4.80 - $5.00 support level tested before we make another attempt at the $5.55. </span></div>
<div><span style="font-size: 10pt;">Solid support is seen at $4.80 on the July contract and our resistance is the May 29 high at the $5.55 level. Once we clear that hurdle, we are set to challenge our $5.75 target. </span><br>
</div>
<div>Short term indicators are neutral while the primary trend is mildly bullish.</div>
<div><br>
</div>
<div>Harvest 2018 Grain prices as of the close, June 13, 2018 are as follows:</div>
<div>SWW @ $242.48/MT ($6.60/bu), HRW @ $244.87/MT ($6.66/bu), </div>
<div> HRS @ $232.91/MT ($6.34/bu), SRW @ $241.42/MT ($6.57/bu). </div>
<div>----</div>
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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>
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