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<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, July 25</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.3037 down 0.0109</u></div>
<div><u>Chicago corn closed moderately higher.</u></div>
<div><u><br>
</u></div>
<div><u> SEP18 HI 3.60 DEC18 HI 3.74</u></div>
<div><u> LOW 3.52 LOW 3.66</u></div>
<div><u> CLOSE3.59 1/4 Up 7 1/4 CLOSE 3.73 1/4 Up 7 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 +SEP18+DEC18+DEC18</u></div>
<div><u>CK Low 1.00 4.59 180.80 0.90 4.63 182.37</u></div>
<div><u>CK High 1.15 4.74 186.70 0.90 4.63 182.37</u></div>
<div><u>CK Avg 1.12 0.02 4.71 185.39 0.90 -0.17 4.63 182.37</u></div>
<div><u>Essex Cty 1.15 4.74 186.70 0.90 4.63 182.37</u></div>
<div><u>Mdsx Low 1.10 4.69 184.74 0.90 4.63 182.37</u></div>
<div><u>Mdsx High 1.15 4.74 186.70 0.95 4.68 184.34</u></div>
<div><u>Mdsx Avg 1.13 0.03 4.72 185.72 0.93 -0.15 4.66 183.36</u></div>
<div><u>Hensall 1.15 4.74 186.70 0.95 4.68 184.34</u></div>
<div><u>Bruce 1.15 4.74 186.70 1.00 4.73 186.31</u></div>
<div><u>Putnam 1.10 4.69 184.74 0.90 4.63 182.37</u></div>
<div><u>Burford 1.10 4.69 184.74 0.90 4.63 182.37</u></div>
<div><u>Port Perry 1.10 4.69 184.74 0.90 4.63 182.37</u></div>
<div><u>Norfolk 1.15 4.74 186.70 0.90 4.63 182.37</u></div>
<div><u>Palmerston 1.00 4.59 180.80 0.90 4.63 182.37</u></div>
<div><u>Varna 1.10 4.69 184.74 0.95 4.68 184.34</u></div>
<div><u>Trenton 1.15 4.74 186.70 0.95 4.68 184.34</u></div>
<div><u>Winchester 1.20 4.79 188.67 1.15 4.88 192.22</u></div>
<div><u>North Gower 1.10 4.69 184.74 1.15 4.88 192.22</u></div>
<div><u>Huron FOB 1.35 4.94 194.58 0.95 4.68 184.34</u></div>
<div><u>Kent FOB 1.35 4.94 194.58 0.90 4.63 182.37</u></div>
<div><u>Lamb FOB 1.30 4.89 192.61 0.90 4.63 182.37</u></div>
<div><u>Mdsx FOB 1.00 1.00N/A N/A 4.59 180.80 0.90 4.63 182.37</u></div>
<div><u>FOB SW Que 1.69 5.28 207.96N/A</u></div>
<div><u>Track 1.50 5.09 200.48N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A N/A 1.41 1.08 4.81 189.46</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A N/A N/A</u></div>
<div><u>Aylmer-Eth N/A 1.50 1.45 1.50 1.10 4.83 190.25</u></div>
<div><u>Sarn-Eth 1.30 1.35 1.30N/A 4.89 192.61 1.10 4.83 190.25</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 1.55 1.15 4.88 192.22</u></div>
<div><u>Pt.Colb-Ing N/A N/A N/A N/A 1.35* 5.08 200.09</u></div>
<div><u>Cardnl-Ing N/A N/A N/A 1.48 1.25 4.98 196.15</u></div>
<div><u>W O Feed 1.67 5.26 207.18</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.66 5.25 206.78</u></div>
<div><u>Toledo El. -0.07 3.53 138.86 -0.26 3.47 136.69</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 0.90 4.63 1/4</u></div>
<div><u>HI SD CRN 0.90 4.63 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 1.3037 down 0.0109</u></div>
<div><u>Chicago soybeans closed slightly higher.</u></div>
<div><u><br>
</u></div>
<div><u> AUG18 HI 8.63 NOV18 HI 8.78</u></div>
<div><u> LOW 8.52 LOW 8.66 3/4</u></div>
<div><u> CLOSE8.60 3/4 Up 2 3/4 CLOSE 8.75 3/4 Up 2 1/2</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 +AUG1+AUG1+NOV18</u></div>
<div><u>CK Low 2.60 11.21 411.812.54 11.30 415.11</u></div>
<div><u>CK High 2.75 11.36 417.322.60 11.36 417.32</u></div>
<div><u>CK Average 2.69 0.06 11.30 415.052.58 -0.0511.34 416.64</u></div>
<div><u>Essex Cty 2.85 11.46 420.992.60 11.36 417.32</u></div>
<div><u>Mdsx Low 2.66 11.27 414.012.57 11.33 416.21</u></div>
<div><u>Mdsx High 2.70 11.31 415.482.60 11.36 417.32</u></div>
<div><u>Mdsx Average 2.68 0.05 11.29 414.742.59 -0.0411.34 416.77</u></div>
<div><u>Hensall 2.70 11.31 415.482.60 11.36 417.32</u></div>
<div><u>Bruce 2.70 11.31 415.482.60 11.36 417.32</u></div>
<div><u>Putnam 2.70 11.31 415.482.60 11.36 417.32</u></div>
<div><u>Burford 2.70 11.31 415.482.61 11.37 417.68</u></div>
<div><u>Port Perry 2.63 11.24 412.912.54 11.30 415.11</u></div>
<div><u>Norfolk 2.75 11.36 417.322.60 11.36 417.32</u></div>
<div><u>Palmerston 2.70 11.31 415.482.60 11.36 417.32</u></div>
<div><u>Varna 2.70 11.31 415.482.60 11.36 417.32</u></div>
<div><u>Trenton 2.65 11.26 413.642.60 11.36 417.32</u></div>
<div><u>Winchester 2.66 11.27 414.012.56 11.32 415.85</u></div>
<div><u>North Gower 2.45 11.06 406.292.42 11.18 410.70</u></div>
<div><u>Huron FOB 2.80 11.41 419.152.70 11.46 420.99</u></div>
<div><u>Kent FOB 2.95 11.56 424.672.60 11.36 417.32</u></div>
<div><u>Lambton FOB 2.85 11.46 420.992.75 11.51 422.83</u></div>
<div><u>Middlesex FOB2.57 2.57 2.51 N/A 11.18 410.702.74 11.50 422.46</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Windsor 3.20 11.81 433.853.05 11.81 433.85</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton N/A 2.90 11.66 428.34</u></div>
<div><u>Prescott 2.02 10.63 390.492.78 11.54 423.93</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 0.10 8.71 320.10-0.39 8.37 307.44</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.3037 down 0.0109</u></div>
<div><u>Chicago wheat closed higher to sharply higher.</u></div>
<div><u>SEP18 HI 5.45 1/4 JUL19 HI 5.87</u></div>
<div><u> LOW 5.11 1/4 LOW 5.58 1/4</u></div>
<div><u> CLOSE 5.42 3/4 Up 32 1/2 CLOSE 5.84 1/4 Up 25 1/2</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed higher to sharply higher.</u></div>
<div><u>SEP18 HI 5.92 1/2 SEP19 HI 6.36 3/4</u></div>
<div><u> LOW 5.54 1/2 LOW 6.13</u></div>
<div><u> CLOSE 5.87 1/4 Up 32 1/2 CLOSE 6.33 Up 20 3/4</u></div>
<div><u><br>
</u></div>
<div><u>GFO Cash 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 1.32 1.52 1.45 0.68</u></div>
<div><u>CAD $/bu 6.75 6.95 6.88 6.55</u></div>
<div><u>CAD $/tonne 248.02 255.20 252.81 240.59</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Direct MarkHarvest 2018 Harvest 2019</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 1.00 N/A</u></div>
<div><u>London 1.15 1.34 1.01 N/A 1.34 1.28 1.08 N/A</u></div>
<div><u>Hensall 1.10 N/A 1.05 N/A 1.15 N/A 1.00 N/A</u></div>
<div><u>Trenton N/A N/A 1.10 N/A N/A N/A 1.10 N/A</u></div>
<div><u>Bruce 1.10 1.20 1.05 0.55 1.15 1.20 1.00 0.50</u></div>
<div><u>Essex N/A N/A 1.02 N/A N/A N/A 1.05 N/A</u></div>
<div><u>Norwich 1.10 N/A 1.05 N/A 1.15 N/A 1.00 N/A</u></div>
<div><u>Port Hope N/A 1.05 1.05 N/A N/A 1.05 1.05 N/A</u></div>
<div><u>Kent Bridge 1.10 N/A 1.05 N/A 1.15 N/A 1.00 N/A</u></div>
<div><u>Chatham N/A N/A 1.10 N/A N/A N/A 1.00 N/A</u></div>
<div><u>Brigden N/A N/A 1.10 N/A N/A N/A 1.00 N/A</u></div>
<div><u>Palmerston N/A 1.10 1.00 0.55 N/A 1.10 0.95 N/A</u></div>
<div><u>Varna 1.25 1.25 1.05 N/A 1.10 1.20 1.00 N/A</u></div>
<div><u>Mitchell 1.10 1.20 1.05 N/A 1.15 1.20 1.00 N/A</u></div>
<div><u>Thornton N/A N/A N/A 0.84 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 1.40 1.35 0.60 N/A 1.36 1.36 0.50</u></div>
<div><u>W O Feed 1.60</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 1.91 N/A N/A N/A 1.89 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 5.50US 7.17CA 5.69US 7.41CA</u></div>
<div><u><br>
</u></div>
<div><u>GFO Contract Wheat Prices - DEL Terminal</u></div>
<div><u>Harvest 19 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)</u></div>
<div><u>Basis 1.37 1.44 1.44 0.54</u></div>
<div><u>CAD $/bu 7.21 7.28 7.28 6.87</u></div>
<div><u>CAD $/tonne 265.07 267.46 267.46 252.51</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 520.30</u></div>
<div><u>DDG's FOB Srn & Aylm 190.00 - 200.00</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="LPlnk713012" 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="LPlnk659779" 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;
background:#FDFDFD"> </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);">This Farm Market News product is sponsored by:</span><br>
<span style="background: rgb(253, 253, 253);">Grain Farmers of Ontario<u><o:p></o:p></u></span></span></p>
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