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<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, October 11</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.3023 up 0.0016</u></div>
<div><u>Chicago corn closed moderately higher.</u></div>
<div><u><br>
</u></div>
<div><u> DEC18 HI 3.73 DEC19 HI 4.03</u></div>
<div><u> LOW 3.60 1/4 LOW 3.94 1/2</u></div>
<div><u> CLOSE3.69 1/4 Up 6 1/2 CLOSE 4.02 1/4 Up 5 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 +DEC18+MAR19+MAR19</u></div>
<div><u>CK Low 0.65 4.34 170.96 0.80 4.82 189.85</u></div>
<div><u>CK High 0.85 4.54 178.83 0.80 4.82 189.85</u></div>
<div><u>CK Avg 0.73 -0.29 4.43 174.24 0.80 -0.30 4.82 189.85</u></div>
<div><u>Essex Cty 0.80 4.49 176.86 0.80 4.82 189.85</u></div>
<div><u>Mdsx Low 0.65 4.34 170.96 0.80 4.82 189.85</u></div>
<div><u>Mdsx High 0.65 4.34 170.96 0.80 4.82 189.85</u></div>
<div><u>Mdsx Avg 0.65 -0.36 4.34 170.96 0.80 -0.30 4.82 189.85</u></div>
<div><u>Hensall 0.63 4.32 169.97 0.80 4.82 189.85</u></div>
<div><u>Bruce 0.60 4.29 168.99 0.85 4.87 191.82</u></div>
<div><u>Putnam N/A N/A</u></div>
<div><u>Burford 0.85 4.54 178.83 0.80 4.82 189.85</u></div>
<div><u>Port Perry 0.90 4.59 180.80 0.85 4.87 191.82</u></div>
<div><u>Norfolk 0.80 4.49 176.86 0.80 4.82 189.85</u></div>
<div><u>Palmerston 0.90 4.59 180.80 0.80 4.82 189.85</u></div>
<div><u>Varna 0.65 4.34 170.96 0.80 4.82 189.85</u></div>
<div><u>Trenton 0.90 4.59 180.80 0.85 4.87 191.82</u></div>
<div><u>Winchester 1.30 4.99 196.55 0.95 4.97 195.76</u></div>
<div><u>North Gower 1.25 4.94 194.58 0.95 4.97 195.76</u></div>
<div><u>Huron FOB 0.90 4.59 180.80 0.85 4.87 191.82</u></div>
<div><u>Kent FOB 0.90 4.59 180.80 0.80 4.82 189.85</u></div>
<div><u>Lamb FOB 1.10 4.79 188.67 0.80 4.82 189.85</u></div>
<div><u>Mdsx FOB 1.00N/A N/A N/A 4.69 184.74 0.90 4.92 193.79</u></div>
<div><u>FOB SW Que 1.79 5.48 215.84N/A</u></div>
<div><u>Track 1.43 5.12 201.47N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A 1.21 1.25 1.00 5.02 197.73</u></div>
<div><u>Jhnstwn-Eth N/A N/A 1.36 1.42 1.22 5.24 206.39</u></div>
<div><u>Aylmer-Eth 1.15 1.15 1.15 1.20 4.84 190.64 1.00 5.02 197.73</u></div>
<div><u>Sarn-Eth 1.15 1.15 1.15N/A 4.84 190.64N/A</u></div>
<div><u>Kawartha N/A N/A N/A N/A N/A</u></div>
<div><u>London-Ing N/A 1.15 1.25N/A 1.05 5.07 199.70</u></div>
<div><u>Pt.Colb-Ing 1.35 1.35N/A N/A 5.04 198.51 N/A*</u></div>
<div><u>Cardnl-Ing N/A N/A 1.47 1.47 1.10 5.12 201.66</u></div>
<div><u>W O Feed 1.55 5.24 206.23</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.54 5.23 205.99</u></div>
<div><u>Toledo El. -0.39 3.30 129.99 -0.26 3.76 148.15</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 0.75 4.44 1/4</u></div>
<div><u>HI SD CRN 0.85 4.54 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 1.3023 up 0.0016</u></div>
<div><u>Chicago soybeans closed slightly higher.</u></div>
<div><u><br>
</u></div>
<div><u> NOV18 HI 8.64 NOV19 HI 9.27 1/2</u></div>
<div><u> LOW 8.47 LOW 9.12 3/4</u></div>
<div><u> CLOSE8.58 1/4 Up 6 CLOSE 9.25 Up 6 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 +NOV1+JAN1+JAN19</u></div>
<div><u>CK Low 2.60 11.18 410.891.80 11.05 406.02</u></div>
<div><u>CK High 2.80 11.38 418.241.95 11.20 411.53</u></div>
<div><u>CK Average 2.69 0.07 11.27 414.191.89 -0.6611.14 409.32</u></div>
<div><u>Essex Cty 2.60 11.18 410.892.00 11.25 413.37</u></div>
<div><u>Mdsx Low 2.73 11.31 415.661.88 11.13 408.96</u></div>
<div><u>Mdsx High 2.80 11.38 418.241.90 11.15 409.69</u></div>
<div><u>Mdsx Average 2.77 0.13 11.35 416.951.89 -0.6611.14 409.32</u></div>
<div><u>Hensall 2.75 11.33 416.401.88 11.13 408.77</u></div>
<div><u>Bruce 2.70 11.28 414.561.90 11.15 409.69</u></div>
<div><u>Putnam N/A N/A</u></div>
<div><u>Burford 2.79 11.37 417.871.94 11.19 411.16</u></div>
<div><u>Port Perry 2.67 11.25 413.461.82 11.07 406.75</u></div>
<div><u>Norfolk 2.90 11.48 421.911.95 11.20 411.53</u></div>
<div><u>Palmerston 2.75 11.33 416.401.95 11.20 411.53</u></div>
<div><u>Varna 2.70 11.28 414.561.85 11.10 407.86</u></div>
<div><u>Trenton 2.80 11.38 418.241.95 11.20 411.53</u></div>
<div><u>Winchester 2.78 11.36 417.501.96 11.21 411.90</u></div>
<div><u>North Gower 2.70 11.28 414.561.95 11.20 411.53</u></div>
<div><u>Huron FOB 2.75 11.33 416.401.95 11.20 411.53</u></div>
<div><u>Kent FOB 2.75 11.33 416.401.95 11.20 411.53</u></div>
<div><u>Lambton FOB 2.75 11.33 416.402.00 11.25 413.37</u></div>
<div><u>Middlesex FOB2.96 3.09 3.03 2.35 11.54 424.112.05 11.30 415.20</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Windsor 2.80 11.38 418.24 N/A</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton 3.00 11.58 425.582.15 11.40 418.88</u></div>
<div><u>Prescott 3.05 11.63 427.422.50 11.75 431.74</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.72 7.87 289.03-0.39 8.86 325.59</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.3023 up 0.0016</u></div>
<div><u>Chicago wheat closed slightly lower.</u></div>
<div><u>DEC18 HI 5.21 JUL19 HI 5.57 3/4</u></div>
<div><u> LOW 5.06 1/2 LOW 5.45</u></div>
<div><u> CLOSE 5.08 Down 2 1/2 CLOSE 5.48 Down 3/4</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly lower.</u></div>
<div><u>DEC18 HI 5.98 1/2 SEP19 HI 6.21 3/4</u></div>
<div><u> LOW 5.88 1/4 LOW 6.15 1/4</u></div>
<div><u> CLOSE 5.89 1/2 Down 2 1/4 CLOSE 6.16 Down 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 1.08 1.28 1.08 0.61</u></div>
<div><u>CAD $/bu 6.16 6.36 6.16 6.51</u></div>
<div><u>CAD $/tonne 226.34 233.52 226.34 239.02</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 0.75 N/A N/A N/A 0.90 N/A</u></div>
<div><u>London 0.95 1.21 0.82 N/A 1.19 1.32 1.00 N/A</u></div>
<div><u>Hensall 0.90 N/A 0.80 N/A 1.15 N/A 0.95 N/A</u></div>
<div><u>Trenton N/A N/A N/A N/A N/A N/A 0.90 N/A</u></div>
<div><u>Bruce 0.85 1.20 0.75 0.60 1.00 1.30 0.90 0.65</u></div>
<div><u>Essex N/A N/A N/A N/A N/A N/A 0.96 N/A</u></div>
<div><u>Norwich 0.90 N/A 0.80 N/A 1.15 N/A 0.95 N/A</u></div>
<div><u>Port Hope N/A 1.00 0.80 N/A N/A 1.20 0.95 N/A</u></div>
<div><u>Kent Bridge 0.90 N/A 0.80 N/A 1.15 N/A 0.95 N/A</u></div>
<div><u>Chatham N/A N/A 0.80 N/A N/A N/A 0.95 N/A</u></div>
<div><u>Brigden N/A N/A 0.80 N/A N/A N/A 0.95 N/A</u></div>
<div><u>Palmerston N/A 1.15 0.95 N/A N/A 1.10 1.05 N/A</u></div>
<div><u>Varna 1.00 1.20 0.80 N/A 1.05 1.30 0.95 N/A</u></div>
<div><u>Mitchell 0.90 1.05 0.80 N/A 1.15 1.25 0.95 N/A</u></div>
<div><u>Thornton N/A N/A N/A 0.15 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 1.15 0.90 0.40 N/A 1.22 1.12 0.40</u></div>
<div><u>W O Feed 1.46</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 1.54 N/A N/A N/A 1.76 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 5.00US 6.51CA 5.33US 6.91CA</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 1.17 1.24 1.17 0.47</u></div>
<div><u>CAD $/bu 6.65 6.72 6.65 6.63</u></div>
<div><u>CAD $/tonne 244.42 246.80 244.42 243.47</u></div>
<div><u><br>
</u></div>
<div><u>(C)-Basis over the Chicago Board of Trade futures</u></div>
<div><u>(M)-Basis over the Minneapolis Grain Exchange</u></div>
<div><u><br>
</u></div>
<div><u>FEED GRAINS</u></div>
<div><u>FOB Hm Soymeal 512.36</u></div>
<div><u>DDG's FOB Srn & Aylm 205.00</u></div>
<div><br>
</div>
<div>--</div>
<div>Ontario Grain Market Commentary for October 10, 2018</div>
<div>By Marty Hibbs, Grain Farmers of Ontario</div>
<div><br>
</div>
<div>
<div><br>
</div>
<div>Wednesday, October 10, 2018 Closing Prices </div>
<div>COMMODITY<span style="white-space:pre"> </span>PERIOD<span style="white-space:pre">
</span>PRICE<span style="white-space:pre"> </span>WEEKLY MOVEMENT</div>
<div>Corn CBOT<span style="white-space:pre"> </span>Dec<span style="white-space:pre">
</span>3.59<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre"> </span>
06<span style="white-space:pre"> </span>cents</div>
<div>Soybeans CBOT<span style="white-space:pre"> </span>Nov<span style="white-space:pre">
</span>8.51<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre"> </span>
11<span style="white-space:pre"> </span>cents</div>
<div>Wheat CBOT<span style="white-space:pre"> </span>Dec<span style="white-space:pre">
</span>5.10<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre"> </span>
05<span style="white-space:pre"> </span>cents</div>
<div>Wheat Minn.<span style="white-space:pre"> </span>Dec<span style="white-space:pre">
</span>5.92<span style="white-space:pre"> </span>$B",(B<span style="white-space:pre"> </span>
02<span style="white-space:pre"> </span>cents</div>
<div>Wheat Kansas<span style="white-space:pre"> </span>Dec<span style="white-space:pre">
</span>5.17<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre"> </span>
02<span style="white-space:pre"> </span>cents</div>
<div>Chicago Oats<span style="white-space:pre"> </span>Dec<span style="white-space:pre">
</span>2.84<span style="white-space:pre"> </span> $B",(B<span style="white-space:pre">
</span>12<span style="white-space:pre"> </span>cents </div>
<div><span style="white-space:pre"></span></div>
<div>Canadian $<span style="white-space:pre"> </span>Dec<span style="white-space:pre">
</span>.7673<span style="white-space:pre"> </span>$B",(B<span style="white-space:pre">
</span>1.15<span style="white-space:pre"> </span>points</div>
<div><br>
</div>
<div>Corn: </div>
<div>Our charts are looking more constructive as the long-term charts have been neutralized since March of this year. This means that the interim trend has gone from bearish to a neutral reading. This bearish trend is at least four years old. This does not
mean we are in a bull market in the long-term trend, but it does indicate that the possibility of starting a new bullish trend has been improved and the chance of the bottom being in place has also increased. </div>
<div>We received a red buy signal on the daily chart back on October 1. This is a positive short-term signal.</div>
<div>Initial support is still seen at the $3.40 level on December. Indicators are neutral, but the primary trend is still down. We would need a close above the $4.40 level on the lead month contract to get excited about a major trend reversal.</div>
<div><br>
</div>
<div>Soybeans: </div>
<div>Soybeans are on pace to continue pushing higher towards the $9 level on the November futures. A close below the $8 level on November futures would signal more downside, but for now we have re-tested the support levels and we are now looking at good support
in that area. We also received a short-term red buy signal of the November soybean contract on October 2 and it is still intact. This is a short-term signal only. I feel we need to close above the $9.20 level before I$B!G(Bm convinced that our bearish flag formation
is negated. </div>
<div><span style="font-size: 10pt;">Our weekly and primary indicators are still negative with a green light on the short-term indicators. Major overhead resistance is now at the $9.20 level, while initial support is seen at the $8 level based on the November
futures. The primary trend remains down. </span><br>
</div>
<div><br>
</div>
<div>Wheat: </div>
<div><span style="font-size: 10pt;">The drop in the stock market seen on October 10 could possibly rattle most futures markets as margin calls filter through most markets and cause them to sell off, especially if the rout continues into this weekend. </span><br>
</div>
<div>The wheat charts look quite constructive with a large double bottom near the $5 level on the December futures. We have red buy signals still on the weekly charts and the daily charts. Our next challenge on the December futures contract is an attempt to
reach the $5.50 price level and possibly higher before the December contract expires. </div>
<div>The HRS wheat looks even more bullish than the SRW. Charts suggest a price of $6-$6.20 in the coming weeks.</div>
<div><span style="font-size: 10pt;">Good support is still seen at the $4.80 - $5 area on December futures while overhead resistance is now back at $5.50. </span><br>
</div>
<div><span style="font-size: 10pt;">All indicators are positive, and the primary trend is still mildly bullish. Wheat is still the leading grain of the three in the race for a major trend reversal. </span><br>
</div>
<div><br>
</div>
<div><span style="font-size: 10pt;">Harvest 2018 Grain prices as of the close, October 10, 2018 are as follows:</span><br>
</div>
<div>SWW @ $226.32/MT ($6.16/bu), HRW @ $233.39/MT ($6.35/bu), </div>
<div> HRS @ $235.28/MT ($6.40/bu), SRW @ $226.32/MT ($6.16/bu). </div>
<div><br>
</div>
<div>---</div>
<div><br>
</div>
<div>
<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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