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<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, August 1</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.2983 down 0.0006</u></div>
<div><u>Chicago corn closed moderately lower.</u></div>
<div><u><br>
</u></div>
<div><u> SEP18 HI 3.73 DEC18 HI 3.87 1/4</u></div>
<div><u> LOW 3.64 LOW 3.78 1/4</u></div>
<div><u> CLOSE3.65 Down 7 1/4 CLOSE 3.79 1/2 Down 7</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 +DEC18+DEC18+DEC18</u></div>
<div><u>CK Low 1.15 4.80 188.97 0.90 4.70 184.83</u></div>
<div><u>CK High 1.15 4.80 188.97 0.95 4.75 186.80</u></div>
<div><u>CK Avg 1.15 0.05 4.80 188.97 0.92 -0.15 4.71 185.49</u></div>
<div><u>Essex Cty 1.15 4.80 188.97 0.95 4.75 186.80</u></div>
<div><u>Mdsx Low 1.15 4.80 188.97 0.90 4.70 184.83</u></div>
<div><u>Mdsx High 1.15 4.80 188.97 0.95 4.75 186.80</u></div>
<div><u>Mdsx Avg 1.15 0.05 4.80 188.97 0.93 -0.14 4.72 185.82</u></div>
<div><u>Hensall 1.15 4.80 188.97 0.95 4.75 186.80</u></div>
<div><u>Bruce 1.15 4.80 188.97 1.00 4.80 188.77</u></div>
<div><u>Putnam 1.15 4.80 188.97 0.90 4.70 184.83</u></div>
<div><u>Burford 1.15 4.80 188.97 0.90 4.70 184.83</u></div>
<div><u>Port Perry 1.15 4.80 188.97 0.90 4.70 184.83</u></div>
<div><u>Norfolk 1.15 4.80 188.97 0.95 4.75 186.80</u></div>
<div><u>Palmerston 1.15 4.80 188.97 0.90 4.70 184.83</u></div>
<div><u>Varna 1.15 4.80 188.97 0.95 4.75 186.80</u></div>
<div><u>Trenton 1.15 4.80 188.97 0.95 4.75 186.80</u></div>
<div><u>Winchester 1.15 4.80 188.97 1.15 4.95 194.68</u></div>
<div><u>North Gower 1.15 4.80 188.97 1.15 4.95 194.68</u></div>
<div><u>Huron FOB 1.40 5.05 198.81 1.00 4.80 188.77</u></div>
<div><u>Kent FOB 1.35 5.00 196.84 0.95 4.75 186.80</u></div>
<div><u>Lamb FOB 1.35 5.00 196.84 0.95 4.75 186.80</u></div>
<div><u>Mdsx FOB 1.30 1.35 1.30N/A 4.95 194.87 0.90 4.70 184.83</u></div>
<div><u>FOB SW Que 1.68 5.33 209.83N/A</u></div>
<div><u>Track 1.53 5.18 203.73N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A 1.56 1.15 1.15 4.95 194.68</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 1.55 1.10 1.10 4.90 192.71</u></div>
<div><u>Sarn-Eth 1.35 1.30N/A 1.10 5.00 196.84 1.10 4.90 192.71</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 1.60 1.15 1.15 4.95 194.68</u></div>
<div><u>Pt.Colb-Ing N/A N/A N/A N/A 1.35* 5.15 202.55</u></div>
<div><u>Cardnl-Ing N/A N/A 1.48 1.25 1.25 5.05 198.61</u></div>
<div><u>W O Feed 1.66 5.31 209.20</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.62 5.27 207.47</u></div>
<div><u>Toledo El. -0.04 3.61 142.16 -0.26 3.54 139.22</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 0.92 1/2 4.72</u></div>
<div><u>HI SD CRN 0.95 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 1.2983 down 0.0006</u></div>
<div><u>Chicago soybeans closed slightly to moderately lower.</u></div>
<div><u><br>
</u></div>
<div><u> NOV18 HI 9.15 NOV18 HI 9.15</u></div>
<div><u> LOW 8.99 LOW 8.99</u></div>
<div><u> CLOSE9.01 3/4 Down 17 1/4 CLOSE 9.01 3/4 Down 17 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 +NOV1+NOV1+NOV18</u></div>
<div><u>CK Low 2.50 11.52 423.202.65 11.67 428.71</u></div>
<div><u>CK High 2.65 11.67 428.712.70 11.72 430.54</u></div>
<div><u>CK Average 2.58 -0.0811.60 426.202.69 0.04 11.71 430.24</u></div>
<div><u>Essex Cty 2.60 11.62 426.872.70 11.72 430.54</u></div>
<div><u>Mdsx Low 2.60 11.62 426.872.70 11.72 430.54</u></div>
<div><u>Mdsx High 2.62 11.64 427.602.73 11.75 431.65</u></div>
<div><u>Mdsx Average 2.61 -0.0611.63 427.242.72 0.06 11.73 431.10</u></div>
<div><u>Hensall 2.60 11.62 426.872.70 11.72 430.54</u></div>
<div><u>Bruce 2.60 11.62 426.872.70 11.72 430.54</u></div>
<div><u>Putnam 2.60 11.62 426.872.70 11.72 430.54</u></div>
<div><u>Burford 2.66 11.68 429.072.77 11.79 433.12</u></div>
<div><u>Port Perry 2.59 11.61 426.502.70 11.72 430.54</u></div>
<div><u>Norfolk 2.60 11.62 426.872.70 11.72 430.54</u></div>
<div><u>Palmerston 2.55 11.57 425.032.65 11.67 428.71</u></div>
<div><u>Varna 2.60 11.62 426.872.70 11.72 430.54</u></div>
<div><u>Trenton 2.60 11.62 426.872.60 11.62 426.87</u></div>
<div><u>Winchester 2.57 11.59 425.772.70 11.72 430.54</u></div>
<div><u>North Gower 2.20 11.22 412.172.42 11.44 420.26</u></div>
<div><u>Huron FOB 2.70 11.72 430.542.80 11.82 434.22</u></div>
<div><u>Kent FOB 2.70 11.72 430.542.70 11.72 430.54</u></div>
<div><u>Lambton FOB 2.80 11.82 434.222.75 11.77 432.38</u></div>
<div><u>Middlesex FOB2.66 2.73 2.77 N/A 11.68 429.072.77 11.79 433.12</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Windsor 2.96 11.98 440.103.09 12.11 444.87</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton N/A 3.00 12.02 441.57</u></div>
<div><u>Prescott 2.00 11.02 404.822.88 11.90 437.16</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.09 8.93 328.00-0.39 8.63 317.08</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2983 down 0.0006</u></div>
<div><u>Chicago wheat closed mixed.</u></div>
<div><u>SEP18 HI 5.66 JUL19 HI 6.01 3/4</u></div>
<div><u> LOW 5.50 3/4 LOW 5.89</u></div>
<div><u> CLOSE 5.58 1/4 Up 4 1/2 CLOSE 5.96 3/4 Up 4 1/2</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly higher.</u></div>
<div><u>SEP18 HI 6.14 1/4 SEP19 HI 6.50</u></div>
<div><u> LOW 6.02 1/2 LOW 6.42 1/2</u></div>
<div><u> CLOSE 6.08 Up 1 3/4 CLOSE 6.45 3/4 Up 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 1.28 1.47 1.41 0.71</u></div>
<div><u>CAD $/bu 6.86 7.05 6.99 6.79</u></div>
<div><u>CAD $/tonne 251.99 259.15 256.76 249.49</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 1.22 1.41 1.09 N/A 1.32 1.32 1.06 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 1.05 N/A N/A N/A 1.05 N/A</u></div>
<div><u>Bruce 1.10 1.25 1.05 0.55 1.15 1.20 1.00 0.50</u></div>
<div><u>Essex N/A N/A 1.10 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 1.20 1.05 N/A N/A 1.20 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 1.05 N/A N/A N/A 1.05 N/A</u></div>
<div><u>Brigden N/A N/A 1.05 N/A N/A N/A 1.05 N/A</u></div>
<div><u>Palmerston N/A 1.15 1.05 0.55 N/A 1.10 1.05 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 0.59 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 1.40 1.30 0.60 N/A 1.37 1.32 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 1.92 N/A N/A N/A 1.88 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 5.65US 7.34CA 5.82US 7.52CA</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 1.30 1.36 1.36 0.53</u></div>
<div><u>CAD $/bu 7.26 7.33 7.33 6.99</u></div>
<div><u>CAD $/tonne 266.90 269.28 269.28 256.92</u></div>
<div><u><br>
</u></div>
<div><u>(C)-Basis over the Chicago Board of Trade futures</u></div>
<div><u>(M)-Basis over the Minneapolis Grain Exchange</u></div>
<div><u><br>
</u></div>
<div><u>FEED GRAINS</u></div>
<div><u>FOB Hm Soymeal 527.46</u></div>
<div><u>DDG's FOB Srn & Aylm 190.00</u></div>
<div><u><br>
</u></div>
<div>---</div>
<div><br>
</div>
<div>Ontario Grain Market Commentary for August 1, 2018</div>
<div>By Marty Hibbs, Grain Farmers of Ontario</div>
<div><br>
</div>
<div><br>
</div>
<div>
<div>Wednesday, August 1, 2018 Closing Prices </div>
<div><br>
</div>
<div>COMMODITY<span style="white-space:pre"> </span>PERIOD<span style="white-space:pre">
</span>PRICE<span style="white-space:pre"> </span>WEEKLY MOVEMENT</div>
<div>Corn CBOT<span style="white-space:pre"> </span>Sep<span style="white-space:pre">
</span>3.66<span style="white-space:pre"> </span>$B",(B<span style="white-space:pre"> </span>
07<span style="white-space:pre"> </span>cents</div>
<div>Soybeans CBOT<span style="white-space:pre"> </span>Sep<span style="white-space:pre">
</span>8.91<span style="white-space:pre"> </span>$B",(B<span style="white-space:pre"> </span>
25<span style="white-space:pre"> </span>cents</div>
<div>Wheat CBOT<span style="white-space:pre"> </span>Sep<span style="white-space:pre">
</span>5.60<span style="white-space:pre"> </span>$B",(B<span style="white-space:pre"> </span>
17<span style="white-space:pre"> </span>cents</div>
<div>Wheat Minn.<span style="white-space:pre"> </span>Sep<span style="white-space:pre">
</span>6.06<span style="white-space:pre"> </span>$B",(B<span style="white-space:pre"> </span>
19<span style="white-space:pre"> </span>cents</div>
<div>Wheat Kansas<span style="white-space:pre"> </span>Sep<span style="white-space:pre">
</span>5.63<span style="white-space:pre"> </span>$B",(B<span style="white-space:pre"> </span>
23<span style="white-space:pre"> </span>cents</div>
<div>Chicago Oats<span style="white-space:pre"> </span>Sep<span style="white-space:pre">
</span>2.39<span style="white-space:pre"> </span> $B",(B<span style="white-space:pre">
</span>07<span style="white-space:pre"> </span>cents </div>
<div><span style="white-space:pre"></span></div>
<div>Canadian $<span style="white-space:pre"> </span>Sep<span style="white-space:pre">
</span>.7700<span style="white-space:pre"> </span>$B",(B<span style="white-space:pre">
</span>0.38<span style="white-space:pre"> </span>points</div>
<div><br>
</div>
<div>Corn: </div>
<div>Last week we were convinced of a good rebound and were looking for at least $3.70; this was realized since that last commentary was published. We also received a red buy signal which further strengthened our outlook. Going forward, we see resistance at
the $3.80 - $3.90 level on the September contract with much tougher resistance at the $4.10 level on the lead month futures. </div>
<div>Major support is still seen at the $3.30 level. </div>
<div>Short term indicators are now positive but the primary trend is still down.</div>
<div><br>
</div>
<div>Soybeans: </div>
<div>Soybeans held their important support level from last week, and as anticipated we did get the bounce we spoke of in our last commentary, rising almost a full dollar per bushel on the September contract since July 16. We hit the $9.10 level on the September
futures July 31 before settling back below the $9 level. We also received a red buy signal which looks positive for the short haul. </div>
<div>Our next target is $9.40 then $9.75 before we hopefully challenge the all-important $10 level on the lead month futures. As I mentioned in our last commentary, unless there are more surprises from the Trump camp, I feel the worst is behind us. </div>
<div>Short term indicators are looking positive with immediate overhead resistance is at the $9.75 - $10 level while initial support is seen at the $8.75 level based on the September futures. Our $8.20 lows are very critical at this point and a retest of this
area, although not expected, would not be a good sign technically. The primary trend remains down. </div>
<div><br>
</div>
<div>Wheat: </div>
<div>Wheat is behaving exactly as expected. We are marching toward our $5.80 - $6 target and hope to reach it soon. Once we are there, I would expect some significant resistance and a decent correction. I am, however, still of the belief that we have turned
the corner on the bear market and that we are now in a neutral to bullish market which according to my analysis, could last for several years. This does not mean that we could not move back to the $5 area but it does look like we should see a steady move higher
in the coming months and into 2019. </div>
<div><span style="font-size: 10pt;">Support is now seen at $5 while overhead resistance is pegged at the $5.80 - $6 area based on the September futures.</span><br>
</div>
<div><span style="font-size: 10pt;">Short and intermediate term indicators are now positive while the primary trend is neutral, and it has now moved back above the 10-year-old downtrend line. </span><br>
</div>
<div><br>
</div>
<div>Harvest 2018 Grain prices as of the close, August 1, 2018 are as follows:</div>
<div>SWW @ $254.28/MT ($6.92/bu), HRW @ $261.44/MT ($7.12/bu), </div>
<div> HRS @ $249.51/MT ($6.79/bu), SRW @ $259.05/MT ($7.05/bu). </div>
<div><br>
</div>
<div>---</div>
<div></div>
<div><br>
</div>
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<p class="MsoNormal"><span style="font-size:10.0pt;line-height:115%;font-family:
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<span style="background:#FDFDFD">Editor, AgriLink and Farm Market News<span class="apple-converted-space"> </span></span><br>
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