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<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, January 24</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.334 up 0.0004</u></div>
<div><u>Chicago corn closed slightly lower.</u></div>
<div><u><br>
</u></div>
<div><u> MAR19 HI 3.79 3/4 DEC19 HI 4.03</u></div>
<div><u> LOW 3.75 3/4 LOW 3.99 3/4</u></div>
<div><u> CLOSE3.77 Down 1 3/4 CLOSE 4.00 3/4 Down 1 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 +MAR19+MAY19+MAY19</u></div>
<div><u>CK Low 0.95 4.72 185.82 0.85 4.86 191.23</u></div>
<div><u>CK High 0.95 4.72 185.82 0.90 4.91 193.20</u></div>
<div><u>CK Avg 0.95 -0.23 4.72 185.82 0.86 -0.35 4.87 191.63</u></div>
<div><u>Essex Cty 0.95 4.72 185.82 0.85 4.86 191.23</u></div>
<div><u>Mdsx Low 0.95 4.72 185.82 0.85 4.86 191.23</u></div>
<div><u>Mdsx High 0.95 4.72 185.82 0.85 4.86 191.23</u></div>
<div><u>Mdsx Avg 0.95 -0.23 4.72 185.82 0.85 -0.36 4.86 191.23</u></div>
<div><u>Hensall 0.95 4.72 185.82 0.85 4.86 191.23</u></div>
<div><u>Bruce 0.95 4.72 185.82 0.85 4.86 191.23</u></div>
<div><u>Putnam 0.95 4.72 185.82 0.85 4.86 191.23</u></div>
<div><u>Burford 0.95 4.72 185.82 0.85 4.86 191.23</u></div>
<div><u>Port Perry 0.95 4.72 185.82 0.90 4.91 193.20</u></div>
<div><u>Norfolk 0.95 4.72 185.82 0.85 4.86 191.23</u></div>
<div><u>Palmerston 0.95 4.72 185.82 0.85 4.86 191.23</u></div>
<div><u>Varna 0.95 4.72 185.82 0.85 4.86 191.23</u></div>
<div><u>Trenton 0.95 4.72 185.82 0.90 4.91 193.20</u></div>
<div><u>Winchester 1.15 4.92 193.69 1.15 5.16 203.04</u></div>
<div><u>North Gower 1.15 4.92 193.69 1.12 5.13 201.86</u></div>
<div><u>Huron FOB 1.25 5.02 197.63 0.95 4.96 195.17</u></div>
<div><u>Kent FOB 1.20 4.97 195.66 0.90 4.91 193.20</u></div>
<div><u>Lamb FOB 1.30 5.07 199.60 0.95 4.96 195.17</u></div>
<div><u>Mdsx FOB 1.25 1.25N/A N/A 5.02 197.63 0.95 4.96 195.17</u></div>
<div><u>FOB SW Que 1.56 5.33 209.83N/A</u></div>
<div><u>Track 1.50 5.27 207.47N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A 1.53 1.60 1.18 5.19 204.22</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A N/A 1.25 5.26 206.98</u></div>
<div><u>Aylmer-Eth N/A 1.47 1.50 1.52 1.14 5.15 202.65</u></div>
<div><u>Sarn-Eth N/A 1.50 1.45 1.50 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 N/A 1.55 1.15 5.16 203.04</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 1.25 5.26 206.98</u></div>
<div><u>W O Feed 1.68 5.45 214.64</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.81 5.58 219.67</u></div>
<div><u>Toledo El. -0.13 3.64 143.17 -0.27 3.74 147.29</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 0.95 4.72</u></div>
<div><u>HI SD CRN 0.95 4.72</u></div>
<div><u>*Wet Bid</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.334 up 0.0004</u></div>
<div><u>Chicago soybeans closed steady to slightly higher.</u></div>
<div><u><br>
</u></div>
<div><u> MAR19 HI 9.19 1/2 NOV19 HI 9.59 1/2</u></div>
<div><u> LOW 9.09 1/4 LOW 9.51</u></div>
<div><u> CLOSE9.16 Up 1 CLOSE 9.56 1/2 Up 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 +MAR1+MAR1+MAY19</u></div>
<div><u>CK Low 2.08 11.24 413.002.25 11.82 434.13</u></div>
<div><u>CK High 2.10 11.26 413.732.35 11.92 437.80</u></div>
<div><u>CK Average 2.10 -0.7211.26 413.592.30 -0.6511.86 435.89</u></div>
<div><u>Essex Cty 2.10 11.26 413.732.35 11.92 437.80</u></div>
<div><u>Mdsx Low 2.10 11.26 413.732.30 11.87 435.96</u></div>
<div><u>Mdsx High 2.12 11.28 414.472.33 11.90 437.07</u></div>
<div><u>Mdsx Average 2.11 -0.7111.27 414.102.32 -0.6411.88 436.52</u></div>
<div><u>Hensall 2.10 11.26 413.732.30 11.87 435.96</u></div>
<div><u>Bruce 2.10 11.26 413.732.30 11.87 435.96</u></div>
<div><u>Putnam 2.10 11.26 413.732.30 11.87 435.96</u></div>
<div><u>Burford 2.12 11.28 414.472.33 11.90 437.07</u></div>
<div><u>Port Perry 2.08 11.24 413.002.29 11.86 435.60</u></div>
<div><u>Norfolk 2.10 11.26 413.732.35 11.92 437.80</u></div>
<div><u>Palmerston 1.95 11.11 408.222.35 11.92 437.80</u></div>
<div><u>Varna 2.10 11.26 413.732.30 11.87 435.96</u></div>
<div><u>Trenton 2.10 11.26 413.732.30 11.87 435.96</u></div>
<div><u>Winchester 2.10 11.26 413.732.32 11.89 436.70</u></div>
<div><u>North Gower 2.22 11.38 418.142.25 11.82 434.13</u></div>
<div><u>Huron FOB 2.20 11.36 417.412.40 11.97 439.64</u></div>
<div><u>Kent FOB 2.20 11.36 417.412.35 11.92 437.80</u></div>
<div><u>Lambton FOB 2.00 11.16 410.062.45 12.02 441.48</u></div>
<div><u>Middlesex FOB2.10 2.23 2.37 2.41 11.26 413.732.45 12.02 441.48</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Windsor 2.67 N/A N/A N/A 11.83 434.682.81 12.38 454.70</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton 2.50 11.66 428.432.75 12.32 452.50</u></div>
<div><u>Prescott 1.90 11.06 406.392.65 12.22 448.82</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.60 8.56 314.52-0.53 9.03 331.89</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.334 up 0.0004</u></div>
<div><u>Chicago wheat closed slightly lower.</u></div>
<div><u>MAR19 HI 5.29 JUL19 HI 5.40 1/4</u></div>
<div><u> LOW 5.21 LOW 5.33 1/2</u></div>
<div><u> CLOSE 5.21 1/2 Down 4 1/2 CLOSE 5.34 Down 3 1/2</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed narrowly mixed.</u></div>
<div><u>MAR19 HI 5.80 SEP19 HI 5.93</u></div>
<div><u> LOW 5.71 LOW 5.88 1/4</u></div>
<div><u> CLOSE 5.76 1/4 Up 3/4 CLOSE 5.92 1/4 Down 1/4</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 1.61 1.67 1.47 0.86</u></div>
<div><u>CAD $/bu 6.82 6.89 6.69 6.62</u></div>
<div><u>CAD $/tonne 250.71 253.16 245.81 243.23</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 1.30 N/A N/A N/A 1.20 N/A</u></div>
<div><u>London 1.54 1.41 1.34 N/A 1.56 1.43 1.30 N/A</u></div>
<div><u>Hensall 1.50 N/A 1.30 N/A 1.55 N/A 1.20 N/A</u></div>
<div><u>Trenton N/A N/A N/A N/A N/A N/A 1.20 N/A</u></div>
<div><u>Bruce 1.50 1.55 1.30 1.10 1.50 1.45 1.20 1.00</u></div>
<div><u>Essex N/A N/A 1.30 N/A N/A N/A 1.25 N/A</u></div>
<div><u>Norwich 1.50 N/A 1.30 N/A 1.55 N/A 1.20 N/A</u></div>
<div><u>Port Hope N/A N/A 1.30 N/A N/A 1.30 1.20 N/A</u></div>
<div><u>Kent Bridge 1.50 N/A 1.30 N/A 1.55 N/A 1.20 N/A</u></div>
<div><u>Chatham N/A N/A 1.30 N/A N/A N/A 1.25 N/A</u></div>
<div><u>Brigden N/A N/A 1.30 N/A N/A N/A 1.25 N/A</u></div>
<div><u>Palmerston N/A 1.60 1.15 1.10 N/A 1.50 1.20 1.00</u></div>
<div><u>Varna 1.50 1.60 1.30 N/A 1.40 1.50 1.20 N/A</u></div>
<div><u>Mitchell 1.50 1.30 1.30 N/A 1.55 1.30 1.20 N/A</u></div>
<div><u>Thornton N/A N/A N/A 0.80 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 1.45 1.30 0.64 N/A 1.53 1.38 0.64</u></div>
<div><u>W O Feed 1.87</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 1.94 N/A N/A N/A 1.90 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 5.17US 6.89CA 5.19US 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 1.57 1.63 1.43 0.83</u></div>
<div><u>CAD $/bu 6.91 6.97 6.77 6.75</u></div>
<div><u>CAD $/tonne 253.79 256.24 248.90 248.05</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 489.77</u></div>
<div><u>DDG's FOB Srn & Aylm 185.00</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<p></p>
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<p></p>
<p class="MsoNormal"><span style="font-size:10.0pt;line-height:115%;font-family:
"Courier New";color:#333333;background:#FDFDFD">Register now for the GFO Grain Marketing Webinar: Intro to Futures, which will be held at noon on February 6, 2019. Here is the
link to the online registration form:</span><span style="mso-ascii-font-family:Calibri;mso-hansi-font-family:Calibri;mso-bidi-font-family:
Calibri;color:#212121;background:white"> </span><a href="https://gfo.ca/event/grain-marketing-webinar-intro-to-futures/" target="_blank" id="LPlnk611807" class="OWAAutoLink" previewremoved="true"><span style="mso-ascii-font-family:Calibri;mso-hansi-font-family:
Calibri;mso-bidi-font-family:Calibri;background:white">https://gfo.ca/event/grain-marketing-webinar-intro-to-futures/</span></a><span style="font-size:10.0pt;line-height:115%;font-family:"Courier New";color:#333333;
background:#FDFDFD">
<o:p></o:p></span></p>
<br>
<p class="MsoNormal"><span style="font-size:10.0pt;line-height:115%;font-family:
"Courier New";color:#333333;background:#FDFDFD">---<o:p></o:p></span></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="LPlnk819520" class="OWAAutoLink" previewremoved="true"><span style="font-size:10.0pt;line-height:115%;
font-family:"Courier New";color:#336699;text-decoration:none;text-underline:
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
63577<span class="apple-converted-space"> </span></span><span style="font-size:10.0pt;line-height:115%;font-family:"Courier New";color:#333333"><br>
<span style="background:#FDFDFD">Fax.<span class="apple-converted-space"> </span></span></span><a href="callto:519-674-1530" id="LPlnk247753" class="OWAAutoLink" previewremoved="true"><span style="font-size:10.0pt;line-height:115%;
font-family:"Courier New";color:#336699;text-decoration:none;text-underline:
none">519-674-1530</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"><br>
<br>
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<span style="background:#FDFDFD">This Farm Market News product is sponsored by:</span><br>
<span style="background:#FDFDFD">Grain Farmers of Ontario<o:p></o:p></span></span></p>
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