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<span><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, January 31<br>
</u></span>
<div><u>(All Bases in CAD)<br>
</u></div>
<div><u>Exchange rate was 1.3125 up 0.0014<br>
</u></div>
<div><u>Chicago corn closed slightly to moderately lower.<br>
</u></div>
<div><u><br>
</u></div>
<div><u> MAR19 HI 3.81 1/2 DEC19 HI 4.03 3/4<br>
</u></div>
<div><u> LOW 3.75 3/4 LOW 3.99 1/2<br>
</u></div>
<div><u> CLOSE3.76 1/2 Down 4 3/4 CLOSE 4.00 Down 3 3/4<br>
</u></div>
<div><u><br>
</u></div>
<div><u> OLD CROP BASIS NEW CROP BASIS<br>
</u></div>
<div><u>Location Spot 1mt 2mt 3mt U.S. $/bu $/mt Cntrct U.S. $/bu $/mt<br>
</u></div>
<div><u>ELEVATORS +MAY19+MAY19+JUL19<br>
</u></div>
<div><u>CK Low 0.95 4.72 185.62 0.85 4.85 190.94<br>
</u></div>
<div><u>CK High 1.00 4.77 187.59 0.90 4.90 192.90<br>
</u></div>
<div><u>CK Avg 0.96 -0.17 4.73 186.02 0.86 -0.29 4.86 191.33<br>
</u></div>
<div><u>Essex Cty 1.00 4.77 187.59 0.85 4.85 190.94<br>
</u></div>
<div><u>Mdsx Low 0.95 4.72 185.62 0.85 4.85 190.94<br>
</u></div>
<div><u>Mdsx High 0.95 4.72 185.62 0.85 4.85 190.94<br>
</u></div>
<div><u>Mdsx Avg 0.95 -0.17 4.72 185.62 0.85 -0.30 4.85 190.94<br>
</u></div>
<div><u>Hensall 0.95 4.72 185.62 0.85 4.85 190.94<br>
</u></div>
<div><u>Bruce 0.95 4.72 185.62 0.85 4.85 190.94<br>
</u></div>
<div><u>Putnam 0.95 4.72 185.62 0.85 4.85 190.94<br>
</u></div>
<div><u>Burford 0.95 4.72 185.62 0.85 4.85 190.94<br>
</u></div>
<div><u>Port Perry 0.95 4.72 185.62 0.90 4.90 192.90<br>
</u></div>
<div><u>Norfolk 1.00 4.77 187.59 0.85 4.85 190.94<br>
</u></div>
<div><u>Palmerston 0.95 4.72 185.62 0.85 4.85 190.94<br>
</u></div>
<div><u>Varna 0.95 4.72 185.62 0.85 4.85 190.94<br>
</u></div>
<div><u>Trenton 0.95 4.72 185.62 0.85 4.85 190.94<br>
</u></div>
<div><u>Winchester 1.10 4.87 191.53 1.15 5.15 202.75<br>
</u></div>
<div><u>North Gower 1.12 4.89 192.31 1.10 5.10 200.78<br>
</u></div>
<div><u>Huron FOB 1.25 5.02 197.43 0.95 4.95 194.87<br>
</u></div>
<div><u>Kent FOB 1.25 5.02 197.43 0.90 4.90 192.90<br>
</u></div>
<div><u>Lamb FOB 1.30 5.07 199.40 0.95 4.95 194.87<br>
</u></div>
<div><u>Mdsx FOB 1.25 1.25N/A N/A 5.02 197.43 0.95 4.95 194.87<br>
</u></div>
<div><u>FOB SW Que 1.67 5.44 213.97N/A<br>
</u></div>
<div><u>Track 1.50 5.27 207.27N/A<br>
</u></div>
<div><u>PROCESSORS<br>
</u></div>
<div><u>Chat-Eth N/A N/A 1.57 1.55 1.15 5.15 202.75<br>
</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A N/A 1.22 5.22 205.50<br>
</u></div>
<div><u>Aylmer-Eth 1.47 1.50 1.52 1.50 5.24 206.09 1.14 5.14 202.35<br>
</u></div>
<div><u>Sarn-Eth 1.40 1.35 1.40N/A 5.17 203.34N/A<br>
</u></div>
<div><u>Kawartha N/A N/A N/A N/A N/A<br>
</u></div>
<div><u>London-Ing N/A N/A 1.55 1.53 1.15 5.15 202.75<br>
</u></div>
<div><u>Pt.Colb-Ing N/A N/A N/A N/A N/A<br>
</u></div>
<div><u>Cardnl-Ing N/A N/A N/A N/A 1.25 5.25 206.68<br>
</u></div>
<div><u>W O Feed 1.63 5.40 212.55<br>
</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.74 5.51 216.72<br>
</u></div>
<div><u>Toledo El. -0.12 3.65 143.57 -0.26 3.74 147.16<br>
</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 0.97 1/2 4.74<br>
</u></div>
<div><u>HI SD CRN 1.00 4.76 1/2<br>
</u></div>
<div><u>*Wet Bid<br>
</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.3125 up 0.0014<br>
</u></div>
<div><u>Chicago soybeans closed slightly lower.<br>
</u></div>
<div><u><br>
</u></div>
<div><u> MAR19 HI 9.26 3/4 NOV19 HI 9.65<br>
</u></div>
<div><u> LOW 9.13 1/4 LOW 9.53 1/2<br>
</u></div>
<div><u> CLOSE9.15 1/4 Down 5 3/4 CLOSE 9.55 1/2 Down 4 1/2<br>
</u></div>
<div><u><br>
</u></div>
<div><u> OLD CROP NEW CROP<br>
</u></div>
<div><u>Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt<br>
</u></div>
<div><u>ELEVATORS +MAR1+MAY1+MAY19<br>
</u></div>
<div><u>CK Low 2.05 11.20 411.622.13 11.69 429.35<br>
</u></div>
<div><u>CK High 2.06 11.21 411.992.20 11.76 431.92<br>
</u></div>
<div><u>CK Average 2.05 -0.6211.20 411.692.17 -0.6111.72 430.67<br>
</u></div>
<div><u>Essex Cty 2.05 11.20 411.622.20 11.76 431.92<br>
</u></div>
<div><u>Mdsx Low 2.00 11.15 409.782.15 11.71 430.09<br>
</u></div>
<div><u>Mdsx High 2.10 11.25 413.462.17 11.73 430.82<br>
</u></div>
<div><u>Mdsx Average 2.05 -0.6211.20 411.622.16 -0.6211.72 430.45<br>
</u></div>
<div><u>Hensall 2.03 11.18 410.702.15 11.71 430.09<br>
</u></div>
<div><u>Bruce 2.05 11.20 411.622.15 11.71 430.09<br>
</u></div>
<div><u>Putnam 2.00 11.15 409.782.15 11.71 430.09<br>
</u></div>
<div><u>Burford 2.10 11.25 413.462.17 11.73 430.82<br>
</u></div>
<div><u>Port Perry 2.06 11.21 411.992.13 11.69 429.35<br>
</u></div>
<div><u>Norfolk 2.05 11.20 411.622.20 11.76 431.92<br>
</u></div>
<div><u>Palmerston 2.05 11.20 411.622.35 11.91 437.43<br>
</u></div>
<div><u>Varna 2.05 11.20 411.622.25 11.81 433.76<br>
</u></div>
<div><u>Trenton 2.00 11.15 409.782.15 11.71 430.09<br>
</u></div>
<div><u>Winchester 2.00 11.15 409.782.15 11.71 430.09<br>
</u></div>
<div><u>North Gower 2.00 11.15 409.782.15 11.71 430.09<br>
</u></div>
<div><u>Huron FOB 2.15 11.30 415.302.25 11.81 433.76<br>
</u></div>
<div><u>Kent FOB 2.35 11.50 422.642.20 11.76 431.92<br>
</u></div>
<div><u>Lambton FOB 2.20 11.35 417.132.30 11.86 435.60<br>
</u></div>
<div><u>Middlesex FOB2.09 2.23 2.20 2.27 11.24 413.092.28 11.84 434.86<br>
</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS<br>
</u></div>
<div><u>Windsor 2.68 N/A N/A N/A 11.83 434.772.54 12.10 444.42<br>
</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER<br>
</u></div>
<div><u>Hamilton 2.40 11.55 424.482.60 12.16 446.62<br>
</u></div>
<div><u>Prescott 2.05 11.20 411.622.35 11.91 437.43<br>
</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.59 8.56 314.59-0.66 8.90 327.01<br>
</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.3125 up 0.0014<br>
</u></div>
<div><u>Chicago wheat closed slightly lower.<br>
</u></div>
<div><u>MAR19 HI 5.20 JUL19 HI 5.30 3/4<br>
</u></div>
<div><u> LOW 5.13 1/2 LOW 5.24 1/2<br>
</u></div>
<div><u> CLOSE 5.16 1/2 Down 1/4 CLOSE 5.27 Down 1<br>
</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly lower.<br>
</u></div>
<div><u>MAR19 HI 5.74 1/4 SEP19 HI 5.91<br>
</u></div>
<div><u> LOW 5.67 3/4 LOW 5.85 1/2<br>
</u></div>
<div><u> CLOSE 5.70 Down 1 1/2 CLOSE 5.87 3/4 Down 1/2<br>
</u></div>
<div><u><br>
</u></div>
<div><u>GFO Cash Wheat Prices - DEL Terminal<br>
</u></div>
<div><u>Harvest 18 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)<br>
</u></div>
<div><u>Basis 1.48 1.55 1.35 0.73<br>
</u></div>
<div><u>CAD $/bu 6.65 6.71 6.52 6.43<br>
</u></div>
<div><u>CAD $/tonne 244.27 246.68 239.44 236.31<br>
</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Direct MarkHarvest 2018 Harvest 2019<br>
</u></div>
<div><u> DELIVERED BASIS DELIVERED BASIS<br>
</u></div>
<div><u>Location SWW(C) HRW(C) SRW(C) HRS(M) SWW(C) HRW(C) SRW(C) HRS(M)<br>
</u></div>
<div><u>ELEVATORS<br>
</u></div>
<div><u>Brgssvll N/A N/A 1.25 N/A N/A N/A 1.15 N/A<br>
</u></div>
<div><u>London 1.41 1.27 1.21 N/A 1.42 1.29 1.16 N/A<br>
</u></div>
<div><u>Hensall 1.45 N/A 1.25 N/A 1.50 N/A 1.15 N/A<br>
</u></div>
<div><u>Trenton N/A N/A N/A N/A N/A N/A 1.15 N/A<br>
</u></div>
<div><u>Bruce 1.45 1.55 1.25 1.10 1.45 1.45 1.15 1.00<br>
</u></div>
<div><u>Essex N/A N/A 1.25 N/A N/A N/A 1.15 N/A<br>
</u></div>
<div><u>Norwich 1.45 N/A 1.25 N/A 1.50 N/A 1.15 N/A<br>
</u></div>
<div><u>Port Hope N/A N/A 1.25 N/A N/A 1.30 1.15 N/A<br>
</u></div>
<div><u>Kent Bridge 1.45 N/A 1.25 N/A 1.50 N/A 1.15 N/A<br>
</u></div>
<div><u>Chatham N/A N/A 1.25 N/A N/A N/A 1.20 N/A<br>
</u></div>
<div><u>Brigden N/A N/A 1.25 N/A N/A N/A 1.20 N/A<br>
</u></div>
<div><u>Palmerston N/A 1.60 1.25 1.10 N/A 1.50 1.15 1.00<br>
</u></div>
<div><u>Varna 1.45 1.55 1.25 N/A 1.45 1.45 1.15 N/A<br>
</u></div>
<div><u>Mitchell 1.45 1.25 1.25 N/A 1.50 1.30 1.15 N/A<br>
</u></div>
<div><u>Thornton N/A N/A N/A 0.69 N/A N/A N/A N/A<br>
</u></div>
<div><u>North Gower N/A 1.40 1.20 0.60 N/A 1.49 1.29 0.60<br>
</u></div>
<div><u>W O Feed 1.84<br>
</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS<br>
</u></div>
<div><u>Toledo FM N/A N/A 1.81 N/A N/A N/A 1.77 N/A<br>
</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 5.12US 6.71CA 5.12US 6.71CA<br>
</u></div>
<div><u><br>
</u></div>
<div><u>GFO Contract Wheat Prices - DEL Terminal<br>
</u></div>
<div><u>Harvest 19 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)<br>
</u></div>
<div><u>Basis 1.44 1.50 1.31 0.71<br>
</u></div>
<div><u>CAD $/bu 6.71 6.77 6.58 6.59<br>
</u></div>
<div><u>CAD $/tonne 246.53 248.94 241.72 242.08<br>
</u></div>
<div><u><br>
</u></div>
<div><u>(C)-Basis over the Chicago Board of Trade futures<br>
</u></div>
<div><u>(M)-Basis over the Minneapolis Grain Exchange<br>
</u></div>
<div><u><br>
</u></div>
<div><u>FEED GRAINS<br>
</u></div>
<div><u>FOB Hm Soymeal 482.82<br>
</u></div>
<div><u>DDG's FOB Srn & Aylm 170.00 - 180.00 </u></div>
<div><u><br>
</u></div>
<div>---</div>
<div><u><br>
</u></div>
<div>Ontario Grain Market Commentary for January 30, 2019</div>
<div>By Marty Hibbs, Grain Farmers of Ontario</div>
<div><br>
</div>
<div><span>Futures Prices as of close, January 30, 2019<br>
</span>
<div>Commodity Period Price Weekly Movement<br>
</div>
<div>Corn CBOT Mar 3.81 $B",(B 02 cents<br>
</div>
<div>Soybeans CBOT Mar 9.21 $B",(B 05 cents<br>
</div>
<div>Wheat CBOT Mar 5.17 $B"-(B 09 cents<br>
</div>
<div>Wheat Minn. Mar 5.71 $B"-(B 04 cents<br>
</div>
<div>Wheat Kansas Mar 5.02 $B"-(B 13 cents<br>
</div>
<div>Oats CBOT Mar 2.82 $B"-(B 13 cents<br>
</div>
<div> <br>
</div>
<div>Canadian $ Mar 0.7620 $B",(B 1.25 points<br>
</div>
<div><br>
</div>
<div><br>
</div>
<div>Corn:</div>
<div>Corn continued to track sideways again this week and remains confined to a triangle channel. We are in a $3.60 - $3.80 range and may continue to track that way until we break above or below these two levels. <br>
</div>
<div>The intermediate indicators remain positive and a challenge of the $4 level seems imminent in the coming months but the primary trend remains down.
<br>
</div>
<div><br>
</div>
<div>Soybeans:<br>
</div>
<div>Soybeans are starting to look positive as we received a daily buy signal this week. This, of course, is a daily signal meaning it can change quite rapidly. For the time being, we are in a positive formation with resistance at the $9.30 - $9.45 level on
the March contract. A close above this level would be very positive for soybeans going forward. We are looking at an ascending triangle pattern which is usually a precursor to building momentum. Our first real test is a close above this $9.40 level which should
set us up for a challenge of the more important $10.80 wall. A convincing close above there could finally turn this six-year-old bear into a full blown multi-year bull market that we have been anticipating.<br>
</div>
<div>Short-term indicators are now neutral while the primary trend remains down. The support line is at $9 on the March futures and resistance remains at the $9.40 level.<br>
</div>
<div><br>
</div>
<div>Wheat:</div>
<div>Wheat tracked sideways this week on the market and we are still seeing resistance at the $5.35 level on the March futures. If we close above there, we open the door to a more substantial target of $5.40 which is the December high. 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.<br>
</div>
<div>I would be looking for higher prices in the spring. <br>
</div>
<div>All indicators are neutral to bullish. <br>
</div>
<div><br>
</div>
<div>Starting on February 6, 2019, Grain Farmers of Ontario will be hosting online webinars for those interested in learning how to utilize futures and options for hedging purposes in most agricultural products. These webinars will be hosted by myself. You
can call me directly at 519-767-4123 or signup online at <span style="font-size:11.0pt;line-height:115%;
font-family:"Calibri","sans-serif";mso-ascii-theme-font:minor-latin;mso-fareast-font-family:
Calibri;mso-fareast-theme-font:minor-latin;mso-hansi-theme-font:minor-latin;
mso-bidi-font-family:"Times New Roman";mso-bidi-theme-font:minor-bidi;
mso-ansi-language:EN-US;mso-fareast-language:EN-US;mso-bidi-language:AR-SA"><a href="https://gfo.ca/event/grain-marketing-webinar-intro-to-futures/" target="_blank"><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><br>
</div>
<div><br>
</div>
<div>Cash Grain prices as of the close, January 30, 2019 are as follows:<br>
</div>
<div>SWW @ $245.22/MT ($6.67/bu), HRW @ $247.66/MT ($6.74/bu), <br>
</div>
<div> HRS @ $237.91/MT ($6.47/bu), SRW @ $240.34/MT ($6.54/bu). <br>
</div>
<span></span><br>
</div>
<div>---</div>
<span></span></div>
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<span style="font-size:10.0pt; font-family:
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<span style="background:#FDFDFD">Editor, AgriLink and Farm Market News<span> </span></span><br>
<span style="background:#FDFDFD">University of Guelph, Ridgetown Campus<span> </span></span><br>
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