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<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, November 1</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.308 down 0.0072</u></div>
<div><u>Chicago corn closed slightly higher.</u></div>
<div><u><br>
</u></div>
<div><u> DEC18 HI 3.71 DEC19 HI 4.04 1/4</u></div>
<div><u> LOW 3.63 LOW 3.96 3/4</u></div>
<div><u> CLOSE3.66 3/4 Up 3 1/2 CLOSE 4.00 Up 2 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 +MAR19+MAR19+MAR19</u></div>
<div><u>CK Low 0.65 4.32 169.97 0.75 4.75 187.00</u></div>
<div><u>CK High 0.70 4.37 171.94 0.80 4.80 188.97</u></div>
<div><u>CK Avg 0.69 -0.33 4.36 171.61 0.77 -0.34 4.77 187.66</u></div>
<div><u>Essex Cty 0.70 4.37 171.94 0.75 4.75 187.00</u></div>
<div><u>Mdsx Low 0.70 4.37 171.94 0.75 4.75 187.00</u></div>
<div><u>Mdsx High 0.70 4.37 171.94 0.80 4.80 188.97</u></div>
<div><u>Mdsx Avg 0.70 -0.33 4.37 171.94 0.78 -0.34 4.78 187.98</u></div>
<div><u>Hensall 0.68 4.34 170.96 0.80 4.80 188.97</u></div>
<div><u>Bruce 0.70 4.37 171.94 0.80 4.80 188.97</u></div>
<div><u>Putnam 0.70 4.37 171.94 0.80 4.80 188.97</u></div>
<div><u>Burford 0.70 4.37 171.94 0.75 4.75 187.00</u></div>
<div><u>Port Perry 0.85 4.52 177.85 0.85 4.85 190.94</u></div>
<div><u>Norfolk 0.70 4.37 171.94 0.75 4.75 187.00</u></div>
<div><u>Palmerston 0.70 4.37 171.94 0.80 4.80 188.97</u></div>
<div><u>Varna 0.65 4.32 169.97 0.80 4.80 188.97</u></div>
<div><u>Trenton 0.90 4.57 179.81 0.85 4.85 190.94</u></div>
<div><u>Winchester 1.30 4.97 195.56 0.95 4.95 194.87</u></div>
<div><u>North Gower 1.25 4.92 193.59 0.95 4.95 194.87</u></div>
<div><u>Huron FOB 0.85 4.52 177.85 0.80 4.80 188.97</u></div>
<div><u>Kent FOB 1.00 4.67 183.75 0.85 4.85 190.94</u></div>
<div><u>Lamb FOB 1.00 4.67 183.75 0.86 4.86 191.33</u></div>
<div><u>Mdsx FOB 1.00N/A N/A N/A 4.67 183.75 1.00 5.00 196.84</u></div>
<div><u>FOB SW Que 1.37 5.04 198.32N/A</u></div>
<div><u>Track 1.25 4.92 193.59N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A 1.27 1.31 1.36 1.13 5.13 201.96</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A 1.54 1.29 5.29 208.26</u></div>
<div><u>Aylmer-Eth 1.25 1.30 1.35 1.35 4.92 193.59 1.10 5.10 200.78</u></div>
<div><u>Sarn-Eth 1.20 1.30N/A N/A 4.87 191.63N/A</u></div>
<div><u>Kawartha N/A N/A N/A N/A N/A</u></div>
<div><u>London-Ing N/A 1.35N/A 1.40 1.15 5.15 202.75</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 1.55N/A 1.55 1.28 5.28 207.86</u></div>
<div><u>W O Feed 1.50 5.17 203.44</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.73 5.40 212.49</u></div>
<div><u>Toledo El. -0.46 3.21 126.36 -0.26 3.74 147.21</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 0.67 1/2 4.34 1/4</u></div>
<div><u>HI SD CRN 0.70 4.36 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 1.308 down 0.0072</u></div>
<div><u>Chicago soybeans closed moderately higher to higher.</u></div>
<div><u><br>
</u></div>
<div><u> JAN19 HI 8.88 1/2 NOV19 HI 9.34 1/2</u></div>
<div><u> LOW 8.45 3/4 LOW 8.98</u></div>
<div><u> CLOSE8.82 Up 30 1/4 CLOSE 9.29 Up 25 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 +JAN1+JAN1+JAN19</u></div>
<div><u>CK Low 2.30 11.12 408.591.85 11.14 409.32</u></div>
<div><u>CK High 2.60 11.42 419.612.05 11.34 416.67</u></div>
<div><u>CK Average 2.41 -0.2411.23 412.571.97 -0.6511.26 413.61</u></div>
<div><u>Essex Cty 2.10 10.92 401.242.00 11.29 414.84</u></div>
<div><u>Mdsx Low 2.39 11.21 411.901.94 11.23 412.63</u></div>
<div><u>Mdsx High 2.45 11.27 414.102.05 11.34 416.67</u></div>
<div><u>Mdsx Average 2.42 -0.2311.24 413.002.00 -0.6311.29 414.65</u></div>
<div><u>Hensall 2.43 11.25 413.182.00 11.29 414.84</u></div>
<div><u>Bruce 2.40 11.22 412.261.95 11.24 413.00</u></div>
<div><u>Putnam 2.45 11.27 414.102.05 11.34 416.67</u></div>
<div><u>Burford 2.42 11.24 413.001.97 11.26 413.73</u></div>
<div><u>Port Perry 2.38 11.20 411.531.93 11.22 412.26</u></div>
<div><u>Norfolk 2.50 11.32 415.941.95 11.24 413.00</u></div>
<div><u>Palmerston 2.65 11.47 421.452.00 11.29 414.84</u></div>
<div><u>Varna 2.40 11.22 412.261.95 11.24 413.00</u></div>
<div><u>Trenton 2.55 11.37 417.781.90 11.19 411.16</u></div>
<div><u>Winchester 2.55 11.37 417.781.92 11.21 411.90</u></div>
<div><u>North Gower 2.65 11.47 421.452.10 11.39 418.51</u></div>
<div><u>Huron FOB 2.45 11.27 414.102.05 11.34 416.67</u></div>
<div><u>Kent FOB 2.55 11.37 417.781.95 11.24 413.00</u></div>
<div><u>Lambton FOB 2.50 11.32 415.941.95 11.24 413.00</u></div>
<div><u>Middlesex FOB2.48 2.42 2.22 2.16 11.30 415.202.10 11.39 418.51</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Windsor 2.72 11.54 424.02 N/A</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton 2.75 11.57 425.122.20 11.49 422.19</u></div>
<div><u>Prescott 3.21 12.03 442.032.55 11.84 435.05</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.72 8.10 297.65-0.39 8.90 326.99</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.308 down 0.0072</u></div>
<div><u>Chicago wheat closed moderately higher.</u></div>
<div><u>DEC18 HI 5.10 JUL19 HI 5.42</u></div>
<div><u> LOW 5.00 1/2 LOW 5.33 1/2</u></div>
<div><u> CLOSE 5.08 Up 7 1/2 CLOSE 5.40 1/2 Up 6 1/2</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly to moderately higher.</u></div>
<div><u>DEC18 HI 5.77 3/4 SEP19 HI 6.10</u></div>
<div><u> LOW 5.69 LOW 6.04</u></div>
<div><u> CLOSE 5.76 3/4 Up 7 1/2 CLOSE 6.08 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 1.11 1.30 1.11 0.60</u></div>
<div><u>CAD $/bu 6.19 6.38 6.19 6.37</u></div>
<div><u>CAD $/tonne 227.32 234.53 227.32 233.93</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 1.00 N/A N/A N/A 0.95 N/A</u></div>
<div><u>London 1.09 1.22 0.96 N/A 1.18 1.31 0.98 N/A</u></div>
<div><u>Hensall 1.00 N/A 1.00 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 1.00 1.30 0.95 0.60 1.00 1.30 0.85 0.65</u></div>
<div><u>Essex N/A N/A N/A N/A N/A N/A 0.97 N/A</u></div>
<div><u>Norwich 1.00 N/A 1.00 N/A 1.15 N/A 0.95 N/A</u></div>
<div><u>Port Hope N/A 1.00 1.00 N/A N/A 1.20 0.95 N/A</u></div>
<div><u>Kent Bridge 1.00 N/A 1.00 N/A 1.15 N/A 0.95 N/A</u></div>
<div><u>Chatham N/A N/A 1.00 N/A N/A N/A 0.95 N/A</u></div>
<div><u>Brigden N/A N/A 1.00 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 1.20 1.40 1.00 N/A 1.05 1.30 0.95 N/A</u></div>
<div><u>Mitchell 1.00 1.15 1.00 N/A 1.15 1.25 0.95 N/A</u></div>
<div><u>Thornton N/A N/A N/A 0.27 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 1.20 1.00 0.50 N/A 1.27 1.22 0.40</u></div>
<div><u>W O Feed 1.79</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 1.70 N/A N/A N/A 1.77 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 5.00US 6.54CA 5.26US 6.85CA</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 1.18 1.25 1.18 0.47</u></div>
<div><u>CAD $/bu 6.59 6.65 6.59 6.55</u></div>
<div><u>CAD $/tonne 242.01 244.40 242.01 240.81</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 502.00</u></div>
<div><u>DDG's FOB Srn & Aylm 180.00 - 190.00</u></div>
<div><u><br>
</u></div>
----
<p></p>
<p style="margin-top:0;margin-bottom:0">Ontario Grain Market Commentary for October 31, 2018</p>
<p style="margin-top:0;margin-bottom:0">By Marty Hibbs, Grain Farmers of Ontario</p>
<p style="margin-top:0;margin-bottom:0"><br>
</p>
<p style="margin-top:0;margin-bottom:0"></p>
<div>Wednesday, October 31, 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>3.63<span style="white-space:pre"> </span> $B"-(B<span style="white-space:pre">
</span>05<span style="white-space:pre"> </span>cents</div>
<div>Soybeans CBOT<span style="white-space:pre"> </span>Jan<span style="white-space:pre">
</span>8.52<span style="white-space:pre"> </span>$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>5.00<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre"> </span>
00<span style="white-space:pre"> </span>cents</div>
<div>Wheat Minn.<span style="white-space:pre"> </span>Dec<span style="white-space:pre">
</span>5.69<span style="white-space:pre"> </span>$B"-(B<span style="white-space:pre"> </span>
09<span style="white-space:pre"> </span>cents</div>
<div>Wheat Kansas<span style="white-space:pre"> </span>Dec<span style="white-space:pre">
</span>4.93<span style="white-space:pre"> </span>$B"-(B<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>2.76<span style="white-space:pre"> </span> $B"-(B<span style="white-space:pre">
</span>15<span style="white-space:pre"> </span>cents </div>
<div><span style="white-space:pre"></span></div>
<div>Canadian $<span style="white-space:pre"> </span>Dec<span style="white-space:pre">
</span>.7604<span style="white-space:pre"> </span>$B",(B<span style="white-space:pre">
</span>0.75<span style="white-space:pre"> </span>points</div>
<div><br>
</div>
<div>Corn: </div>
<div>Another quiet week in the corn futures as the market was confined again to a 10 cent range. </div>
<div>Initial support is now seen at the $3.60 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><br>
</div>
<div>Soybeans: </div>
<div>Soybeans continued their slide again this week. We are now quoting the January contract. We received a daily red sell signal on the daily chart that suggests we will see lower prices as the November contract goes to cash. We should now see another move
towards our bottom of the box $8 price support. There is a better chance each time we test this area that we will eventually break that support and if it were to occur, would extend the beans into a $7 price handle for the first time since 2008. This is a
predictable trading range going forward until either the $8 or $9 price points are negated on a closing price.</div>
<div>All indicators are negative and the primary trend remains down. </div>
<div><br>
</div>
<div>Wheat: </div>
<div><span style="font-size: 10pt;">Wheat did drop to the $4.90 level on the December contract this week and bounced quickly back to the $5 level. For the time being we are seeing good support on the charts and until we break below the $.80 level on the December
futures on a close, I feel we can stay on this nine-month-old minor bull run. Another good sign is the formation of the five point reverse wave that we are now in. To confirm this fifth wave, we need a close above $5.25 on the lead month futures contract.
If this is confirmed, I believe that the bottom for wheat is in place for the rest of this year and that we could be looking at the beginning of the next bull market in wheat. </span><br>
</div>
<div><span style="font-size: 10pt;">Initial support is still seen in this $4.80 area on December Chicago futures while overhead resistance is now back at $5.25. </span><br>
</div>
<div><span style="font-size: 10pt;">Indicators are still positive, and the primary trend is neutral. </span><br>
</div>
<div><br>
</div>
<div><span style="font-size: 10pt;">Harvest 2018 Grain prices as of the close, October 31, 2018 are as follows:</span><br>
</div>
<div>SWW @ $224.75/MT ($6.12/bu), HRW @ $232.00/MT ($6.21/bu), </div>
<div> HRS @ $231.51/MT ($6.30/bu), SRW @ $224.75/MT ($6.12/bu). </div>
<div><br>
</div>
<div>----</div>
<div><br>
</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>
<span style="background:#FDFDFD">University of Guelph, Ridgetown Campus<span class="apple-converted-space"> </span></span><br>
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