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<div>Ontario Grain Market Commentary for January 9, 2019</div>
<div>By Marty Hibbs, Grain Farmers of Ontario</div>
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<div>Futures Prices as of close, January 09, 2019</div>
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<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>$B",(B 07 cents</div>
<div>Soybeans CBOT<span style="white-space:pre"> </span>Mar<span style="white-space:pre">
</span>9.24<span style="white-space:pre"> </span>$B",(B 20 cents</div>
<div>Wheat CBOT<span style="white-space:pre"> </span>Mar<span style="white-space:pre">
</span>5.20<span style="white-space:pre"> </span>$B",(B 15 cents</div>
<div>Wheat Minn.<span style="white-space:pre"> </span>Mar<span style="white-space:pre">
</span>5.70<span style="white-space:pre"> </span>$B",(B 15 cents</div>
<div>Wheat Kansas<span style="white-space:pre"> </span>Mar<span style="white-space:pre">
</span>5.05<span style="white-space:pre"> </span>$B",(B 13 cents</div>
<div>Oats CBOT<span style="white-space:pre"> </span>Mar<span style="white-space:pre">
</span>2.86<span style="white-space:pre"> </span>$B",(B 10 cents</div>
<div><span style="white-space:pre"></span></div>
<div>Canadian $<span style="white-space:pre"> </span>Mar<span style="white-space:pre">
</span>0.7575<span style="white-space:pre"> </span>$B",(B 2.15 points</div>
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<div>Corn: </div>
<div>Corn was quiet over the holidays and rangebound. We are still looking for upside but need to be cautious if we break below $3.70 on the close of the March contract on any given day. </div>
<div>A close above $3.88 on the March contract would give us the green light to challenge the all-important $4 level </div>
<div>Both short- and mid-term indicators are now positive, but the primary trend is still down. </div>
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<div>Soybeans: </div>
<div>As suggested in our last commentary, the March futures found solid support at the $8.80 level. We are through the holiday season and look forward to a January rally. I expect to see a challenge again to the $9.40 level on the March futures in the coming
weeks. </div>
<div>Short-term indicators are still positive, while the primary trend remains down. Support line is at $8.80 and resistance remains at the $9.40 level on the March contract.</div>
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<div>Wheat: </div>
<div>Wheat checked back to test the $5 level on the March contract while we were on holidays. This was no surprise as mentioned in my last commentary. We now have our support line well established at the $5 mark on the March futures and our overhead resistance
stands at the $5.40 level. We need to stay above the $5 support to keep the positive tone in the futures.</div>
<div>Overall, the weekly charts still look very constructive, and if and when these prices are taken out we could be looking towards the $6 price target on the lead month contract in the spring. </div>
<div>Short-term indicators are bullish, and the primary trend is neutral to bullish. </div>
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<div>Harvest 2018 Grain prices as of the close, January 09, 2019 are as follows:</div>
<div>SWW @ $247.38/MT ($6.73/bu), HRW @ $249.80/MT ($6.80/bu), </div>
<div> HRS @ $237.68/MT ($6.47/bu), SRW @ $242.53/MT ($6.60/bu). </div>
<div>---</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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