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<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, December 20</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.3465 up 0.0034</u></div>
<div><u>Chicago corn closed moderately lower.</u></div>
<div><u><br>
</u></div>
<div><u> MAR19 HI 3.82 3/4 DEC19 HI 4.03 1/4</u></div>
<div><u> LOW 3.75 LOW 3.96 1/2</u></div>
<div><u> CLOSE3.75 1/4 Down 6 1/2 CLOSE 3.96 3/4 Down 5 3/4</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+MAY19</u></div>
<div><u>CK Low 0.95 4.70 185.13 0.85 4.82 189.66</u></div>
<div><u>CK High 0.95 4.70 185.13 0.90 4.87 191.63</u></div>
<div><u>CK Avg 0.95 -0.26 4.70 185.13 0.86 -0.38 4.83 190.05</u></div>
<div><u>Essex Cty 0.95 4.70 185.13 0.85 4.82 189.66</u></div>
<div><u>Mdsx Low 0.95 4.70 185.13 0.85 4.82 189.66</u></div>
<div><u>Mdsx High 0.95 4.70 185.13 0.90 4.87 191.63</u></div>
<div><u>Mdsx Avg 0.95 -0.26 4.70 185.13 0.88 -0.37 4.84 190.64</u></div>
<div><u>Hensall 0.95 4.70 185.13 0.85 4.82 189.66</u></div>
<div><u>Bruce 0.95 4.70 185.13 0.85 4.82 189.66</u></div>
<div><u>Putnam 0.95 4.70 185.13 0.85 4.82 189.66</u></div>
<div><u>Burford 0.95 4.70 185.13 0.90 4.87 191.63</u></div>
<div><u>Port Perry 0.95 4.70 185.13 0.90 4.87 191.63</u></div>
<div><u>Norfolk 0.95 4.70 185.13 0.85 4.82 189.66</u></div>
<div><u>Palmerston 0.90 4.65 183.16 0.85 4.82 189.66</u></div>
<div><u>Varna 0.90 4.65 183.16 0.85 4.82 189.66</u></div>
<div><u>Trenton 0.90 4.65 183.16 0.85 4.82 189.66</u></div>
<div><u>Winchester 1.20 4.95 194.97 1.15 5.12 201.47</u></div>
<div><u>North Gower 1.15 4.90 193.00 1.12 5.09 200.29</u></div>
<div><u>Huron FOB 1.25 5.00 196.94 0.90 4.87 191.63</u></div>
<div><u>Kent FOB 1.25 5.00 196.94 0.90 4.87 191.63</u></div>
<div><u>Lamb FOB 1.20 4.95 194.97 0.95 4.92 193.59</u></div>
<div><u>Mdsx FOB 1.30N/A N/A N/A 5.05 198.91 0.95 4.92 193.59</u></div>
<div><u>FOB SW Que 1.52 5.27 207.57N/A</u></div>
<div><u>Track 1.38 5.13 201.86N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A 1.51 1.45 1.14 5.11 201.07</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A 1.56 1.28 5.25 206.58</u></div>
<div><u>Aylmer-Eth N/A N/A 1.50 1.45 1.10 5.07 199.50</u></div>
<div><u>Sarn-Eth N/A 1.30 1.35N/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 N/A 1.55 1.50 1.10 5.07 199.50</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 N/A N/A N/A 1.30 5.27 207.37</u></div>
<div><u>W O Feed 1.67 5.42 213.32</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.80 5.55 218.59</u></div>
<div><u>Toledo El. -0.19 3.56 140.31 -0.27 3.70 145.61</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 0.95 4.70 1/4</u></div>
<div><u>HI SD CRN 0.95 4.70 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 1.3465 up 0.0034</u></div>
<div><u>Chicago soybeans closed slightly lower.</u></div>
<div><u><br>
</u></div>
<div><u> JAN19 HI 9.05 1/2 NOV19 HI 9.53 1/4</u></div>
<div><u> LOW 8.92 3/4 LOW 9.42 1/4</u></div>
<div><u> CLOSE8.93 1/2 Down 6 1/2 CLOSE 9.42 3/4 Down 6 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+MAR1+MAR19</u></div>
<div><u>CK Low 2.22 11.16 409.882.38 11.81 433.85</u></div>
<div><u>CK High 2.30 11.24 412.822.40 11.83 434.59</u></div>
<div><u>CK Average 2.28 -0.6011.22 412.232.40 -0.6311.82 434.44</u></div>
<div><u>Essex Cty 2.30 11.24 412.822.45 11.88 436.42</u></div>
<div><u>Mdsx Low 2.26 11.20 411.352.40 11.83 434.59</u></div>
<div><u>Mdsx High 2.30 11.24 412.822.42 11.85 435.32</u></div>
<div><u>Mdsx Average 2.28 -0.6111.22 412.082.41 -0.6211.84 434.95</u></div>
<div><u>Hensall 2.30 11.24 412.822.40 11.83 434.59</u></div>
<div><u>Bruce 2.30 11.24 412.822.40 11.83 434.59</u></div>
<div><u>Putnam 2.30 11.24 412.822.40 11.83 434.59</u></div>
<div><u>Burford 2.26 11.20 411.352.42 11.85 435.32</u></div>
<div><u>Port Perry 2.22 11.16 409.882.38 11.81 433.85</u></div>
<div><u>Norfolk 2.30 11.24 412.822.40 11.83 434.59</u></div>
<div><u>Palmerston 2.35 11.29 414.652.35 11.78 432.75</u></div>
<div><u>Varna 2.30 11.24 412.822.35 11.78 432.75</u></div>
<div><u>Trenton 2.30 11.24 412.822.40 11.83 434.59</u></div>
<div><u>Winchester 2.32 11.26 413.552.42 11.85 435.32</u></div>
<div><u>North Gower 2.50 11.44 420.162.43 11.86 435.69</u></div>
<div><u>Huron FOB 2.45 11.39 418.332.50 11.93 438.26</u></div>
<div><u>Kent FOB 2.40 11.34 416.492.40 11.83 434.59</u></div>
<div><u>Lambton FOB 2.20 11.14 409.142.55 11.98 440.10</u></div>
<div><u>Middlesex FOB2.22 2.42 2.53 2.58 11.16 409.882.52 11.95 439.00</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Windsor 2.73 N/A N/A N/A 11.67 428.622.90 12.33 452.96</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton 2.70 11.64 427.512.80 12.23 449.28</u></div>
<div><u>Prescott N/A 2.90 12.33 452.96</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.51 8.42 309.50-0.40 9.02 331.58</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.3465 up 0.0034</u></div>
<div><u>Chicago wheat closed slightly higher.</u></div>
<div><u>MAR19 HI 5.27 3/4 JUL19 HI 5.41 1/2</u></div>
<div><u> LOW 5.21 1/4 LOW 5.36</u></div>
<div><u> CLOSE 5.23 1/2 Up 1 CLOSE 5.38 1/4 Up 1 1/4</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly lower to steady.</u></div>
<div><u>MAR19 HI 5.76 1/4 SEP19 HI 5.94 3/4</u></div>
<div><u> LOW 5.67 1/2 LOW 5.88 1/2</u></div>
<div><u> CLOSE 5.68 Down 1/2 CLOSE 5.89 Unchanged</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 1.34 1.54 1.34 0.82</u></div>
<div><u>CAD $/bu 6.58 6.78 6.58 6.50</u></div>
<div><u>CAD $/tonne 241.69 249.11 241.69 238.97</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 1.40 N/A N/A N/A 1.25 N/A</u></div>
<div><u>London 1.60 1.46 1.33 N/A 1.63 1.50 1.23 N/A</u></div>
<div><u>Hensall 1.60 N/A 1.40 N/A 1.65 N/A 1.25 N/A</u></div>
<div><u>Trenton N/A N/A N/A N/A N/A N/A 1.25 N/A</u></div>
<div><u>Bruce 1.45 1.60 1.40 1.10 1.35 1.60 1.25 1.00</u></div>
<div><u>Essex N/A N/A 1.40 N/A N/A N/A 1.25 N/A</u></div>
<div><u>Norwich 1.60 N/A 1.40 N/A 1.65 N/A 1.25 N/A</u></div>
<div><u>Port Hope N/A N/A 1.40 N/A N/A 1.35 1.25 N/A</u></div>
<div><u>Kent Bridge 1.60 N/A 1.40 N/A 1.65 N/A 1.25 N/A</u></div>
<div><u>Chatham N/A N/A 1.40 N/A N/A N/A 1.25 N/A</u></div>
<div><u>Brigden N/A N/A 1.40 N/A N/A N/A 1.25 N/A</u></div>
<div><u>Palmerston N/A 1.50 1.20 0.80 N/A 1.45 1.10 0.80</u></div>
<div><u>Varna 1.60 1.60 1.40 N/A 1.35 1.50 1.25 N/A</u></div>
<div><u>Mitchell 1.60 1.40 1.40 N/A 1.65 1.40 1.25 N/A</u></div>
<div><u>Thornton N/A N/A N/A 0.77 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 1.30 1.13 0.64 N/A 1.34 1.28 0.55</u></div>
<div><u>W O Feed 1.92</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 2.02 N/A N/A N/A 1.99 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 5.19US 6.98CA 5.23US 7.04CA</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 1.38 1.45 1.38 0.75</u></div>
<div><u>CAD $/bu 6.77 6.83 6.77 6.64</u></div>
<div><u>CAD $/tonne 248.62 251.09 248.62 244.05</u></div>
<div><u><br>
</u></div>
<div><u>(C)-Basis over the Chicago Board of Trade futures</u></div>
<div><u>(M)-Basis over the Minneapolis Grain Exchange</u></div>
<div><u><br>
</u></div>
<div><u>FEED GRAINS</u></div>
<div><u>FOB Hm Soymeal 492.41</u></div>
<div><u>DDG's FOB Srn & Aylm 150.00 - 165.00</u></div>
<div><u><br>
</u></div>
----
<p></p>
<p style="margin-top:0;margin-bottom:0"><br>
</p>
<p style="margin-top:0;margin-bottom:0">Ontario Grain Market Commentary for December 19, 2018</p>
<p style="margin-top:0;margin-bottom:0">By Marty Hibbs, Grain Farmers of Ontario</p>
<p style="margin-top:0;margin-bottom:0"><br>
</p>
<p style="margin-top:0;margin-bottom:0"></p>
<div><br>
</div>
<div>Futures Prices as of close, December 19, 2018</div>
<div>Commodity<span style="white-space:pre"> </span>Period<span style="white-space:pre">
</span>Price<span style="white-space:pre"> </span>Weekly Movement</div>
<div>Corn CBOT<span style="white-space:pre"> </span>Mar<span style="white-space:pre">
</span>3.82<span style="white-space:pre"> </span>$B"-(B 03 cents</div>
<div>Soybeans CBOT<span style="white-space:pre"> </span>Mar<span style="white-space:pre">
</span>9.13<span style="white-space:pre"> </span>$B"-(B 20 cents</div>
<div>Wheat CBOT<span style="white-space:pre"> </span>Mar<span style="white-space:pre">
</span>5.22<span style="white-space:pre"> </span>$B"-(B 04 cents</div>
<div>Wheat Minn.<span style="white-space:pre"> </span>Mar<span style="white-space:pre">
</span>5.68<span style="white-space:pre"> </span>$B"-(B 15 cents</div>
<div>Wheat Kansas<span style="white-space:pre"> </span>Mar<span style="white-space:pre">
</span>5.08<span style="white-space:pre"> </span>$B"-(B 03 cents</div>
<div>Oats CBOT<span style="white-space:pre"> </span>Mar<span style="white-space:pre">
</span>2.86<span style="white-space:pre"> </span>$B"-(B 07 cents</div>
<div><span style="white-space:pre"></span></div>
<div>Canadian $<span style="white-space:pre"> </span>Dec<span style="white-space:pre">
</span>0.7429<span style="white-space:pre"> </span>$B"-(B 0.65 points</div>
<div><br>
</div>
<div><br>
</div>
<div>Corn: </div>
<div>We show support at the $3.80 level on the March contract. The gap should be filled in the next day or two and from there we could see a continued move higher. The flag formation extends to at least $3.90 on March and possibly closer to the big $4 handle.</div>
<div>Both short and mid-term indicators are now positive, but the primary trend is still down. </div>
<div><br>
</div>
<div>Soybeans: </div>
<div>There was a pullback in the grains this week and we are now looking to find support coming into the holidays. For soybeans, we see support at the $8.80 - $9 level on the March contract. This is important support and if it fails on a close we should consider
a move back to the recent bottom at the $8.40 level. </div>
<div>Our $9.40 resistance level endured and we are now getting the correction before another possible assault on that level. Short term indicators are still positive, while the primary trend remains down. Resistance has moved down to the $9.40 - $9.50 level
on the March contract.</div>
<div>Short- and medium-term indicators remain neutral to slightly bullish while the primary trend remains down. </div>
<div><br>
</div>
<div>Wheat: </div>
<div><span style="font-size: 10pt;">We are now back revisiting the support level of $5.18 on the March contract. If this area holds on any given close, we should see the March futures begin to move higher to revisit the recent highs at $5.40. With the holidays
fast approaching, the trading may be thin and we could see a quiet market until after the 25th. Overall, the weekly charts still look very constructive and I still feel we will see stronger prices in the spring. </span><br>
</div>
<div>Support is seen at $5.18 and again at $5 while stiff overhead resistance is at $5.50 on the March futures.</div>
<div><span style="font-size: 10pt;">Short term indicators are bullish, and the primary trend is neutral to bullish. </span><br>
</div>
<div><br>
</div>
<div><span style="font-size: 10pt;">Harvest 2018 Grain prices as of the close, December 19, 2018 are as follows:</span><br>
</div>
<div>SWW @ $240.96/MT ($6.56/bu), HRW @ $248.38/MT ($6.76/bu), </div>
<div> HRS @ $238.98/MT ($6.50/bu), SRW @ $240.96/MT ($6.56/bu). </div>
<div><br>
</div>
<div>---</div>
<div><br>
</div>
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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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