<html>
<head>
<meta http-equiv="Content-Type" content="text/html; charset=iso-2022-jp">
<style type="text/css" style="display:none;"><!-- P {margin-top:0;margin-bottom:0;} --></style>
</head>
<body dir="ltr">
<div id="divtagdefaultwrapper" dir="ltr" style="font-size: 10pt; color: rgb(0, 0, 0); font-family: "Courier New", monospace, EmojiFont, "Apple Color Emoji", "Segoe UI Emoji", NotoColorEmoji, "Segoe UI Symbol", "Android Emoji", EmojiSymbols;">
<p style="margin-top:0; margin-bottom:0"><u></u></p>
<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, February 7</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.329 up 0.0097</u></div>
<div><u>Chicago corn closed slightly lower.</u></div>
<div><u><br>
</u></div>
<div><u> MAR19 HI 3.80 1/4 DEC19 HI 4.03 1/4</u></div>
<div><u> LOW 3.76 1/4 LOW 4.00</u></div>
<div><u> CLOSE3.76 1/2 Down 3 1/2 CLOSE 4.00 1/4 Down 2 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 +MAY19+MAY19+JUL19</u></div>
<div><u>CK Low 1.00 4.77 187.59 0.85 4.85 191.03</u></div>
<div><u>CK High 1.00 4.77 187.59 0.90 4.90 193.00</u></div>
<div><u>CK Avg 1.00 -0.18 4.77 187.59 0.86 -0.34 4.86 191.43</u></div>
<div><u>Essex Cty 1.00 4.77 187.59 0.85 4.85 191.03</u></div>
<div><u>Mdsx Low 1.00 4.77 187.59 0.85 4.85 191.03</u></div>
<div><u>Mdsx High 1.00 4.77 187.59 0.85 4.85 191.03</u></div>
<div><u>Mdsx Avg 1.00 -0.18 4.77 187.59 0.85 -0.34 4.85 191.03</u></div>
<div><u>Hensall 1.00 4.77 187.59 0.85 4.85 191.03</u></div>
<div><u>Bruce 1.00 4.77 187.59 0.85 4.85 191.03</u></div>
<div><u>Putnam 1.00 4.77 187.59 0.85 4.85 191.03</u></div>
<div><u>Burford 1.00 4.77 187.59 0.85 4.85 191.03</u></div>
<div><u>Port Perry 1.00 4.77 187.59 0.85 4.85 191.03</u></div>
<div><u>Norfolk 1.00 4.77 187.59 0.85 4.85 191.03</u></div>
<div><u>Palmerston 1.00 4.77 187.59 0.85 4.85 191.03</u></div>
<div><u>Varna 1.00 4.77 187.59 0.85 4.85 191.03</u></div>
<div><u>Trenton 0.95 4.72 185.62 0.85 4.85 191.03</u></div>
<div><u>Winchester 1.10 4.87 191.53 1.15 5.15 202.84</u></div>
<div><u>North Gower 1.10 4.87 191.53 1.13 5.13 202.06</u></div>
<div><u>Huron FOB 1.30 5.07 199.40 0.95 4.95 194.97</u></div>
<div><u>Kent FOB 1.25 5.02 197.43 0.90 4.90 193.00</u></div>
<div><u>Lamb FOB 1.30 5.07 199.40 0.90 4.90 193.00</u></div>
<div><u>Mdsx FOB 1.25 1.25N/A N/A 5.02 197.43 0.95 4.95 194.97</u></div>
<div><u>FOB SW Que 1.73 5.50 216.33 1.12 5.12 201.66</u></div>
<div><u>Track 1.50 5.27 207.27N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A 1.55 1.53 1.13 5.13 202.06</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A N/A 1.20 5.20 204.81</u></div>
<div><u>Aylmer-Eth 1.52 1.49 1.52 1.52 5.29 208.06 1.13 5.13 202.06</u></div>
<div><u>Sarn-Eth 1.40 1.35 1.40N/A 5.17 203.34N/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 1.53 1.15 5.15 202.84</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 5.25 206.78</u></div>
<div><u>W O Feed 1.62 5.39 212.08</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.74 5.51 216.72</u></div>
<div><u>Toledo El. -0.12 3.65 143.51 -0.27 3.74 147.13</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 1.00 4.76 1/2</u></div>
<div><u>HI SD CRN 1.00 4.76 1/2</u></div>
<div><u>*Wet Bid</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.329 up 0.0097</u></div>
<div><u>Chicago soybeans closed slightly lower.</u></div>
<div><u><br>
</u></div>
<div><u> MAR19 HI 9.21 1/2 NOV19 HI 9.62 1/2</u></div>
<div><u> LOW 9.10 1/2 LOW 9.53</u></div>
<div><u> CLOSE9.13 1/4 Down 8 1/2 CLOSE 9.55 3/4 Down 7 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+MAY1+MAY19</u></div>
<div><u>CK Low 2.11 11.24 413.092.28 11.84 434.95</u></div>
<div><u>CK High 2.15 11.28 414.562.30 11.86 435.69</u></div>
<div><u>CK Average 2.14 -0.6511.27 414.272.30 -0.6211.85 435.54</u></div>
<div><u>Essex Cty 2.15 11.28 414.562.30 11.86 435.69</u></div>
<div><u>Mdsx Low 2.15 11.28 414.562.30 11.86 435.69</u></div>
<div><u>Mdsx High 2.15 11.28 414.562.32 11.88 436.42</u></div>
<div><u>Mdsx Average 2.15 -0.6411.28 414.562.31 -0.6111.87 436.06</u></div>
<div><u>Hensall 2.15 11.28 414.562.30 11.86 435.69</u></div>
<div><u>Bruce 2.15 11.28 414.562.30 11.86 435.69</u></div>
<div><u>Putnam 2.15 11.28 414.562.30 11.86 435.69</u></div>
<div><u>Burford 2.15 11.28 414.562.32 11.88 436.42</u></div>
<div><u>Port Perry 2.11 11.24 413.092.28 11.84 434.95</u></div>
<div><u>Norfolk 2.15 11.28 414.562.30 11.86 435.69</u></div>
<div><u>Palmerston 2.15 11.28 414.562.35 11.91 437.53</u></div>
<div><u>Varna 2.15 11.28 414.562.30 11.86 435.69</u></div>
<div><u>Trenton 2.05 11.18 410.892.20 11.76 432.01</u></div>
<div><u>Winchester 2.10 11.23 412.722.25 11.81 433.85</u></div>
<div><u>North Gower 2.00 11.13 409.052.25 11.81 433.85</u></div>
<div><u>Huron FOB 2.25 11.38 418.242.40 11.96 439.36</u></div>
<div><u>Kent FOB 2.45 11.58 425.582.30 11.86 435.69</u></div>
<div><u>Lambton FOB 2.15 11.28 414.562.30 11.86 435.69</u></div>
<div><u>Middlesex FOB2.12 2.19 2.30 2.37 11.25 413.462.38 11.94 438.63</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Windsor 2.81 N/A N/A N/A 11.94 438.812.69 12.25 450.02</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton 2.45 11.58 425.582.65 12.21 448.55</u></div>
<div><u>Prescott N/A 2.65 12.21 448.55</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.60 8.53 313.59-0.66 8.89 326.81</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.329 up 0.0097</u></div>
<div><u>Chicago wheat closed moderately lower to lower.</u></div>
<div><u>MAR19 HI 5.25 1/4 JUL19 HI 5.31 3/4</u></div>
<div><u> LOW 5.12 1/2 LOW 5.20 3/4</u></div>
<div><u> CLOSE 5.13 1/4 Down 12 3/4 CLOSE 5.21 3/4 Down 10 1/2</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed moderately lower.</u></div>
<div><u>MAR19 HI 5.78 1/4 SEP19 HI 5.89 1/4</u></div>
<div><u> LOW 5.63 1/2 LOW 5.80</u></div>
<div><u> CLOSE 5.64 1/2 Down 8 3/4 CLOSE 5.81 Down 6 3/4</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 1.56 1.62 1.42 0.79</u></div>
<div><u>CAD $/bu 6.69 6.75 6.56 6.44</u></div>
<div><u>CAD $/tonne 245.75 248.19 240.86 236.59</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 1.25 N/A N/A N/A 1.15 N/A</u></div>
<div><u>London 1.51 1.57 1.31 N/A 1.49 1.55 1.23 N/A</u></div>
<div><u>Hensall 1.45 N/A 1.25 N/A 1.50 N/A 1.15 N/A</u></div>
<div><u>Trenton N/A N/A N/A N/A N/A N/A 1.15 N/A</u></div>
<div><u>Bruce 1.45 1.55 1.25 N/A 1.45 1.45 1.15 1.00</u></div>
<div><u>Essex N/A N/A 1.25 N/A N/A N/A 1.15 N/A</u></div>
<div><u>Norwich 1.45 N/A 1.25 N/A 1.50 N/A 1.15 N/A</u></div>
<div><u>Port Hope N/A N/A 1.25 N/A N/A 1.30 1.15 N/A</u></div>
<div><u>Kent Bridge 1.45 N/A 1.25 N/A 1.50 N/A 1.15 N/A</u></div>
<div><u>Chatham N/A N/A 1.25 N/A N/A N/A 1.20 N/A</u></div>
<div><u>Brigden N/A N/A 1.25 N/A N/A N/A 1.20 N/A</u></div>
<div><u>Palmerston N/A 1.55 1.20 1.10 N/A 1.50 1.15 1.00</u></div>
<div><u>Varna 1.45 1.55 1.25 N/A 1.45 1.45 1.15 N/A</u></div>
<div><u>Mitchell 1.45 1.25 1.25 N/A 1.50 1.30 1.15 N/A</u></div>
<div><u>Thornton N/A N/A N/A 0.81 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 1.40 1.20 0.60 N/A 1.48 1.28 0.60</u></div>
<div><u>W O Feed 1.78</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 1.89 N/A N/A N/A 1.84 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 5.08US 6.75CA 5.07US 6.72CA</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 1.50 1.57 1.37 0.77</u></div>
<div><u>CAD $/bu 6.72 6.79 6.59 6.58</u></div>
<div><u>CAD $/tonne 246.96 249.40 242.09 241.73</u></div>
<div><u><br>
</u></div>
<div><u>(C)-Basis over the Chicago Board of Trade futures</u></div>
<div><u>(M)-Basis over the Minneapolis Grain Exchange</u></div>
<div><u><br>
</u></div>
<div><u>FEED GRAINS</u></div>
<div><u>FOB Hm Soymeal 467.94</u></div>
<div><u>DDG's FOB Srn & Aylm 170.00 - 180.00</u></div>
<div><u><br>
</u></div>
---
<p></p>
<p style="margin-top:0; margin-bottom:0">Ontario Grain Market Commentary for February 6, 2019</p>
<p style="margin-top:0; margin-bottom:0">By Marty Hibbs, Grain Farmers of Ontario</p>
<p style="margin-top:0; margin-bottom:0"><br>
</p>
<p style="margin-top:0; margin-bottom:0"><br>
</p>
<p style="margin-top:0; margin-bottom:0"></p>
<div>Futures Prices as of close, February 6, 2019</div>
<div>Commodity<span style="white-space:pre"> </span>Period<span style="white-space:pre">
</span>Price<span style="white-space:pre"> </span>Weekly Movement</div>
<div>Corn CBOT<span style="white-space:pre"> </span>Mar<span style="white-space:pre">
</span>3.80<span style="white-space:pre"> </span>$B"-(B 02 cents</div>
<div>Soybeans CBOT<span style="white-space:pre"> </span>Mar<span style="white-space:pre">
</span>9.22<span style="white-space:pre"> </span>$B",(B 01 cents</div>
<div>Wheat CBOT<span style="white-space:pre"> </span>Mar<span style="white-space:pre">
</span>5.26<span style="white-space:pre"> </span>$B",(B 09 cents</div>
<div>Wheat Minn.<span style="white-space:pre"> </span>Mar<span style="white-space:pre">
</span>5.73<span style="white-space:pre"> </span>$B",(B 04 cents</div>
<div>Wheat Kansas<span style="white-space:pre"> </span>Mar<span style="white-space:pre">
</span>5.09<span style="white-space:pre"> </span>$B",(B 07 cents</div>
<div>Oats CBOT<span style="white-space:pre"> </span>Mar<span style="white-space:pre">
</span>2.88<span style="white-space:pre"> </span>$B",(B 06 cents</div>
<div><span style="white-space:pre"></span></div>
<div>Canadian $<span style="white-space:pre"> </span>Mar<span style="white-space:pre">
</span>0.7580<span style="white-space:pre"> </span>$B"-(B 0.35 points</div>
<div><br>
</div>
<div><br>
</div>
<div>Corn:</div>
<div><span style="font-size:10pt">Corn continued to track sideways again this week and remains confined to a triangle channel. We are now in a $3.70 - $3.80 trading range. The United States Department of Agriculture (USDA) report is out on Friday, February
8, and we could see some directional break above or below these two levels. </span><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. </div>
<div><br>
</div>
<div>Soybeans:</div>
<div>For the time being, we are in a positive formation with resistance at the $9.35 - $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 the full-blown multi-year
bull market that we have been anticipating.</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.</div>
<div><br>
</div>
<div>Wheat:</div>
<div><span style="font-size:10pt">Wheat gave us a little surprise this week with a short term buy signal. This is a positive result even though it is short term. We continued to track sideways again this week and we are still seeing resistance at the $5.35
- $5.40 level on the March futures</span><br>
</div>
<div>We need to stay above the $5 support to keep the positive tone in the futures.</div>
<div>I would be looking for higher prices in the spring. </div>
<div>Both short- and long-term indicators are now bullish while the intermediate is neutral. </div>
<div><br>
</div>
<div>Grain Farmers of Ontario is hosting online webinars for those interested in learning how to utilize futures and options for hedging purposes in most agricultural products. These webinars are hosted by myself. You can call me directly at 519-767-4123 or
signup online at https://gfo.ca/event/grain-marketing-webinar-intro-to-futures/. </div>
<div>When you sign up you will be notified of upcoming dates and times.</div>
<div><br>
</div>
<div>---</div>
<div>
<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="LPlnk661575" class="OWAAutoLink" previewremoved="true"><span style="font-size:10.0pt; line-height:115%; font-family:"Courier New"; color:#336699; text-decoration: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="LPlnk885677" class="OWAAutoLink" previewremoved="true"><span style="font-size:10.0pt; line-height:115%; font-family:"Courier New"; color:#336699; text-decoration: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>
<span style="background:#FDFDFD">Click on this link:<span class="apple-converted-space"> </span></span></span><span class="object"><span style="font-size:10.0pt; line-height:115%; font-family:"Courier New"; color:#336699">farmmarketnews-unsubscribe@list.gfo.ca</span></span><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"> to
unsubscribe from this report.</span><span style="font-size:10.0pt; line-height:115%; font-family:"Courier New"; color:#333333"><br>
<span style="background:#FDFDFD">This Farm Market News product is sponsored by:</span><br>
<span style="background:#FDFDFD">Grain Farmers of Ontario</span></span></p>
<br>
</div>
<div><br>
</div>
<div></div>
<div><br>
</div>
<div><br>
</div>
<div></div>
<div><br>
</div>
<br>
<p></p>
<p style="margin-top:0; margin-bottom:0"><br>
</p>
<div id="Signature">
<div id="divtagdefaultwrapper" style="font-size:12pt; color:rgb(0,0,0); background-color:rgb(255,255,255); font-family:Calibri,Arial,Helvetica,sans-serif,EmojiFont,"Apple Color Emoji","Segoe UI Emoji",NotoColorEmoji,"Segoe UI Symbol","Android Emoji",EmojiSymbols">
<br>
</div>
<div id="divtagdefaultwrapper" style="font-size:12pt; color:rgb(0,0,0); background-color:rgb(255,255,255); font-family:Calibri,Arial,Helvetica,sans-serif,EmojiFont,"Apple Color Emoji","Segoe UI Emoji",NotoColorEmoji,"Segoe UI Symbol","Android Emoji",EmojiSymbols">
<p></p>
<p><br>
</p>
</div>
</div>
</div>
</body>
</html>