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<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, October 18</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.3069 up 0.0076</u></div>
<div><u>Chicago corn closed slightly lower.</u></div>
<div><u><br>
</u></div>
<div><u> DEC18 HI 3.73 1/4 DEC19 HI 4.04</u></div>
<div><u> LOW 3.69 1/2 LOW 4.01</u></div>
<div><u> CLOSE3.70 3/4 Down 3 1/2 CLOSE 4.02 Down 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 +DEC18+MAR19+MAR19</u></div>
<div><u>CK Low 0.55 4.26 167.61 0.75 4.77 187.79</u></div>
<div><u>CK High 0.65 4.36 171.55 0.80 4.82 189.76</u></div>
<div><u>CK Avg 0.58 -0.42 4.29 168.92 0.79 -0.32 4.81 189.43</u></div>
<div><u>Essex Cty 0.55 4.26 167.61 0.75 4.77 187.79</u></div>
<div><u>Mdsx Low 0.55 4.26 167.61 0.80 4.82 189.76</u></div>
<div><u>Mdsx High 0.55 4.26 167.61 0.80 4.82 189.76</u></div>
<div><u>Mdsx Avg 0.55 -0.45 4.26 167.61 0.80 -0.31 4.82 189.76</u></div>
<div><u>Hensall 0.55 4.26 167.61 0.80 4.82 189.76</u></div>
<div><u>Bruce 0.60 4.31 169.58 0.80 4.82 189.76</u></div>
<div><u>Putnam 0.65 4.36 171.55 0.80 4.82 189.76</u></div>
<div><u>Burford 0.55 4.26 167.61 0.80 4.82 189.76</u></div>
<div><u>Port Perry 0.85 4.56 179.42 0.85 4.87 191.72</u></div>
<div><u>Norfolk 0.55 4.26 167.61 0.75 4.77 187.79</u></div>
<div><u>Palmerston 0.65 4.36 171.55 0.80 4.82 189.76</u></div>
<div><u>Varna 0.55 4.26 167.61 0.80 4.82 189.76</u></div>
<div><u>Trenton 0.90 4.61 181.39 0.85 4.87 191.72</u></div>
<div><u>Winchester 1.30 5.01 197.14 0.95 4.97 195.66</u></div>
<div><u>North Gower 1.25 4.96 195.17 0.95 4.97 195.66</u></div>
<div><u>Huron FOB 0.85 4.56 179.42 0.90 4.92 193.69</u></div>
<div><u>Kent FOB 0.90 4.61 181.39 0.85 4.87 191.72</u></div>
<div><u>Lamb FOB 1.00 4.71 185.33 0.80 4.82 189.76</u></div>
<div><u>Mdsx FOB 1.05N/A N/A N/A 4.76 187.29N/A</u></div>
<div><u>FOB SW Que 1.52 5.23 205.80N/A</u></div>
<div><u>Track 1.20 4.91 193.20N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A 1.16 1.22 1.06 5.08 199.99</u></div>
<div><u>Jhnstwn-Eth N/A N/A 1.36 1.42 1.23 5.25 206.68</u></div>
<div><u>Aylmer-Eth 1.20 1.20 1.25 1.25 4.91 193.20 1.00 5.02 197.63</u></div>
<div><u>Sarn-Eth N/A N/A N/A N/A 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 1.25 1.30N/A 1.05 5.07 199.60</u></div>
<div><u>Pt.Colb-Ing N/A 1.35N/A N/A N/A*</u></div>
<div><u>Cardnl-Ing N/A N/A 1.55N/A 1.10 5.12 201.57</u></div>
<div><u>W O Feed 1.53 5.24 206.19</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.66 5.37 211.31</u></div>
<div><u>Toledo El. -0.39 3.32 130.52 -0.26 3.76 148.03</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 0.60 4.30 3/4</u></div>
<div><u>HI SD CRN 0.65 4.35 3/4</u></div>
<div><u>*Wet Bid</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.3069 up 0.0076</u></div>
<div><u>Chicago soybeans closed moderately lower.</u></div>
<div><u><br>
</u></div>
<div><u> NOV18 HI 8.83 3/4 NOV19 HI 9.42 1/2</u></div>
<div><u> LOW 8.62 3/4 LOW 9.24 3/4</u></div>
<div><u> CLOSE8.63 1/2 Down 22 1/4 CLOSE 9.24 3/4 Down 20</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 11.24 412.821.90 11.15 409.60</u></div>
<div><u>CK High 2.85 11.49 422.001.96 11.21 411.81</u></div>
<div><u>CK Average 2.71 0.05 11.35 416.921.94 -0.6411.18 410.89</u></div>
<div><u>Essex Cty 2.45 11.09 407.301.95 11.20 411.44</u></div>
<div><u>Mdsx Low 2.80 11.44 420.161.95 11.20 411.44</u></div>
<div><u>Mdsx High 2.81 11.45 420.531.95 11.20 411.44</u></div>
<div><u>Mdsx Average 2.81 0.12 11.44 420.351.95 -0.6311.20 411.44</u></div>
<div><u>Hensall 2.83 11.46 421.081.95 11.20 411.44</u></div>
<div><u>Bruce 2.80 11.44 420.161.80 11.05 405.93</u></div>
<div><u>Putnam 2.90 11.54 423.841.95 11.20 411.44</u></div>
<div><u>Burford 2.84 11.48 421.631.98 11.23 412.54</u></div>
<div><u>Port Perry 2.80 11.44 420.161.94 11.19 411.07</u></div>
<div><u>Norfolk 2.80 11.44 420.161.90 11.15 409.60</u></div>
<div><u>Palmerston 2.75 11.39 418.331.95 11.20 411.44</u></div>
<div><u>Varna 2.85 11.49 422.001.95 11.20 411.44</u></div>
<div><u>Trenton 2.85 11.49 422.001.95 11.20 411.44</u></div>
<div><u>Winchester 2.86 11.50 422.371.91 11.16 409.97</u></div>
<div><u>North Gower 2.85 11.49 422.002.00 11.25 413.27</u></div>
<div><u>Huron FOB 2.90 11.54 423.842.05 11.30 415.11</u></div>
<div><u>Kent FOB 2.70 11.34 416.491.90 11.15 409.60</u></div>
<div><u>Lambton FOB 2.95 11.59 425.682.05 11.30 415.11</u></div>
<div><u>Middlesex FOB2.84 3.16 2.97 2.36 11.48 421.632.11 11.36 417.32</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Windsor 2.79 11.43 419.80 N/A</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton 3.00 11.64 427.512.20 11.45 420.62</u></div>
<div><u>Prescott 3.07 11.71 430.092.57 11.82 434.22</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.72 7.92 290.87-0.39 8.86 325.46</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.3069 up 0.0076</u></div>
<div><u>Chicago wheat closed slightly lower.</u></div>
<div><u>DEC18 HI 5.19 1/2 JUL19 HI 5.56 1/2</u></div>
<div><u> LOW 5.11 LOW 5.49 3/4</u></div>
<div><u> CLOSE 5.13 Down 4 1/2 CLOSE 5.51 3/4 Down 2 3/4</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly lower.</u></div>
<div><u>DEC18 HI 5.90 1/2 SEP19 HI 6.14 1/4</u></div>
<div><u> LOW 5.84 1/2 LOW 6.12 3/4</u></div>
<div><u> CLOSE 5.85 Down 3 1/4 CLOSE 6.12 3/4 Down 2</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 1.12 1.31 1.12 0.62</u></div>
<div><u>CAD $/bu 6.25 6.44 6.25 6.47</u></div>
<div><u>CAD $/tonne 229.54 236.75 229.54 237.71</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 0.85 N/A N/A N/A 0.95 N/A</u></div>
<div><u>London 0.97 1.23 0.90 N/A 1.21 1.34 1.01 N/A</u></div>
<div><u>Hensall 0.90 N/A 0.90 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 0.80 0.60 1.00 1.30 0.95 0.65</u></div>
<div><u>Essex N/A N/A N/A N/A N/A N/A 1.00 N/A</u></div>
<div><u>Norwich 0.90 N/A 0.90 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 0.90 N/A 1.15 N/A 0.95 N/A</u></div>
<div><u>Chatham N/A N/A 0.85 N/A N/A N/A 0.95 N/A</u></div>
<div><u>Brigden N/A N/A 0.85 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 1.30 0.90 N/A 1.05 1.30 0.95 N/A</u></div>
<div><u>Mitchell 0.90 1.05 0.90 N/A 1.15 1.25 0.95 N/A</u></div>
<div><u>Thornton N/A N/A N/A 0.26 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 1.20 1.00 0.50 N/A 1.26 1.21 0.40</u></div>
<div><u>W O Feed 1.44</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 1.57 N/A N/A N/A 1.78 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 5.05US 6.60CA 5.37US 6.98CA</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 1.20 1.26 1.20 0.47</u></div>
<div><u>CAD $/bu 6.72 6.78 6.72 6.60</u></div>
<div><u>CAD $/tonne 246.80 249.18 246.80 242.50</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 501.89</u></div>
<div><u>DDG's FOB Srn & Aylm 205.00</u></div>
<div><br>
</div>
<br>
</div>
<div><br>
</div>
<div>Wednesday, October 17, 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>3.74<span style="white-space:pre"> </span>¡è<span style="white-space:pre"> </span>
11<span style="white-space:pre"> </span>cents</div>
<div>Soybeans CBOT<span style="white-space:pre"> </span>Nov<span style="white-space:pre">
</span>8.86<span style="white-space:pre"> </span>¡è<span style="white-space:pre"> </span>
25<span style="white-space:pre"> </span>cents</div>
<div>Wheat CBOT<span style="white-space:pre"> </span>Dec<span style="white-space:pre">
</span>5.17<span style="white-space:pre"> </span>¡è<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>5.88<span style="white-space:pre"> </span>¡é<span style="white-space:pre"> </span>
04<span style="white-space:pre"> </span>cents</div>
<div>Wheat Kansas<span style="white-space:pre"> </span>Dec<span style="white-space:pre">
</span>5.21<span style="white-space:pre"> </span>¡è<span style="white-space:pre"> </span>
04<span style="white-space:pre"> </span>cents</div>
<div>Chicago Oats<span style="white-space:pre"> </span>Dec<span style="white-space:pre">
</span>2.95<span style="white-space:pre"> </span> ¡è<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>.7695<span style="white-space:pre"> </span>¡è<span style="white-space:pre">
</span>0.25<span style="white-space:pre"> </span>points</div>
<div><br>
</div>
<div>Corn: </div>
<div>Our red buy signal on the daily chart back on October 1 continues to perform. </div>
<div>We reached our upside target area of $3.80 on October 15 and have since moved back to the $3.75 area. Initial support is now seen at the $3.65 level on December. Indicators are neutral, but the primary trend is still down. We still need a close above
the $4.40 level on the lead month contract to get excited about a major trend reversal.</div>
<div>Soybeans: </div>
<div>Soybeans are still working towards our upside target of $9 on the November futures. This range of $8 - $9 is still a critical area. A close below the $8 level on November futures would signal more downside, while a break up through the $9.20 level on
a close on November, could push us toward the $9.50 level and change the dynamics of our charts to a more bullish scenario. </div>
<div>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. </div>
<div><br>
</div>
<div><br>
</div>
<div>Wheat: </div>
<div><br>
</div>
<div>Wheat continues in our well-defined range of $5 - $5.30 on the December contract. This is well defined and suggests we will see a break to the upside towards our next target of $5.50 in the coming weeks. Solid support still seen at the $5 level on December
Chicago. </div>
<div>Last commentary, we suggested we would see a rise to at least $6 per bushel on the HRS. This week the December HRS contract topped out at $6.02 ¨ö on October 15. </div>
<div><br>
</div>
<div>Good support is still seen at the $5 area on December Chicago futures while overhead resistance is now back at $5.50. </div>
<div><br>
</div>
<div>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. </div>
<div><br>
</div>
<div><br>
</div>
<div><br>
</div>
<div>Harvest 2018 Grain prices as of the close, October 17, 2018 are as follows:</div>
<div>SWW @ $230.51/MT ($6.27/bu), HRW @ $237.68/MT ($6.47/bu), </div>
<div> HRS @ $237.92/MT ($6.48/bu), SRW @ $230.51/MT ($6.27/bu). </div>
<div><br>
</div>
<div>Marty Hibbs, Grain Farmers of Ontario </div>
<div><br>
</div>
<div><br>
</div>
<br>
<p></p>
<p style="margin-top:0; margin-bottom:0"></p>
<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>
<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" id="LPlnk347982" class="OWAAutoLink" previewremoved="true"><span style="font-size:10.0pt; line-height:115%; font-family:"Courier New"; color:#336699; text-decoration:none">519-674-1500</span></a><span class="apple-converted-space"><span style="font-size:10.0pt; line-height:115%; font-family:"Courier New"; color:#333333; background:#FDFDFD"> </span></span><span style="font-size:10.0pt; line-height:115%; font-family:"Courier New"; color:#333333; background:#FDFDFD">x
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