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<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Mon, February 25</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.3185 up 0.0047</u></div>
<div><u>Chicago corn closed slightly to moderately lower.</u></div>
<div><u><br>
</u></div>
<div><u> MAR19 HI 3.78 1/2 DEC19 HI 4.04</u></div>
<div><u> LOW 3.70 LOW 3.98</u></div>
<div><u> CLOSE3.70 1/2 Down 4 3/4 CLOSE 3.98 1/2 Down 3 1/4</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 0.95 4.66 183.26 0.80 4.79 188.38</u></div>
<div><u>CK High 1.00 4.71 185.23 0.90 4.89 192.31</u></div>
<div><u>CK Avg 0.97 -0.16 4.67 183.92 0.83 -0.32 4.82 189.69</u></div>
<div><u>Essex Cty 0.95 4.66 183.26 0.80 4.79 188.38</u></div>
<div><u>Mdsx Low 0.95 4.66 183.26 0.80 4.79 188.38</u></div>
<div><u>Mdsx High 0.95 4.66 183.26 0.80 4.79 188.38</u></div>
<div><u>Mdsx Avg 0.95 -0.17 4.66 183.26 0.80 -0.35 4.79 188.38</u></div>
<div><u>Hensall 0.98 4.68 184.24 0.83 4.81 189.36</u></div>
<div><u>Bruce 0.95 4.66 183.26 0.80 4.79 188.38</u></div>
<div><u>Putnam 0.95 4.66 183.26 0.80 4.79 188.38</u></div>
<div><u>Burford 0.95 4.66 183.26 0.80 4.79 188.38</u></div>
<div><u>Port Perry 0.90 4.61 181.29 0.80 4.79 188.38</u></div>
<div><u>Norfolk 0.95 4.66 183.26 0.80 4.79 188.38</u></div>
<div><u>Palmerston 1.00 4.71 185.23 0.85 4.84 190.35</u></div>
<div><u>Varna 1.00 4.71 185.23 0.85 4.84 190.35</u></div>
<div><u>Trenton 0.99 4.70 184.83 0.85 4.84 190.35</u></div>
<div><u>Winchester 1.10 4.81 189.16 1.15 5.14 202.16</u></div>
<div><u>North Gower 1.10 4.81 189.16 1.13 5.12 201.37</u></div>
<div><u>Huron FOB 1.30 5.01 197.04 0.95 4.94 194.28</u></div>
<div><u>Kent FOB 1.20 4.91 193.10 0.85 4.84 190.35</u></div>
<div><u>Lamb FOB 1.30 5.01 197.04 0.90 4.89 192.31</u></div>
<div><u>Mdsx FOB 1.25 1.25 1.30N/A 4.96 195.07 0.95 4.94 194.28</u></div>
<div><u>FOB SW Que 1.75 5.46 214.75 1.23 5.22 205.31</u></div>
<div><u>Track 1.48 5.18 203.93N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A N/A N/A 1.06 5.05 198.61</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A N/A 1.19 5.18 203.73</u></div>
<div><u>Aylmer-Eth N/A N/A 1.54 1.55 1.10 5.09 200.19</u></div>
<div><u>Sarn-Eth 1.35 1.40N/A N/A 5.06 199.01N/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 5.14 202.16</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 5.24 206.09</u></div>
<div><u>W O Feed 1.65 5.36 210.97</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.83 5.54 217.90</u></div>
<div><u>Toledo El. -0.07 3.64 143.26 -0.26 3.72 146.52</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Port ColbornN/A 1.15 5.14202 1/6</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 0.97 1/2 4.68</u></div>
<div><u>HI SD CRN 1.00 4.70 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 1.3185 up 0.0047</u></div>
<div><u>Chicago soybeans closed narrowly mixed.</u></div>
<div><u><br>
</u></div>
<div><u> MAR19 HI 9.21 NOV19 HI 9.63 1/4</u></div>
<div><u> LOW 9.10 1/4 LOW 9.54 3/4</u></div>
<div><u> CLOSE9.11 3/4 Up 1 1/2 CLOSE 9.55 1/2 Up 1</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 2.13 11.25 413.272.15 11.71 430.09</u></div>
<div><u>CK High 2.20 11.32 415.852.25 11.81 433.76</u></div>
<div><u>CK Average 2.16 -0.5711.27 414.252.20 -0.6211.75 431.86</u></div>
<div><u>Essex Cty 2.20 11.32 415.852.15 11.71 430.09</u></div>
<div><u>Mdsx Low 2.15 11.27 414.012.20 11.76 431.92</u></div>
<div><u>Mdsx High 2.20 11.32 415.852.23 11.79 433.02</u></div>
<div><u>Mdsx Average 2.18 -0.5511.29 414.932.22 -0.6111.77 432.47</u></div>
<div><u>Hensall 2.15 11.27 414.012.20 11.76 431.92</u></div>
<div><u>Bruce 2.15 11.27 414.012.20 11.76 431.92</u></div>
<div><u>Putnam 2.15 11.27 414.012.20 11.76 431.92</u></div>
<div><u>Burford 2.20 11.32 415.852.23 11.79 433.02</u></div>
<div><u>Port Perry 2.16 11.28 414.382.19 11.75 431.55</u></div>
<div><u>Norfolk 2.15 11.27 414.012.15 11.71 430.09</u></div>
<div><u>Palmerston 2.15 11.27 414.012.25 11.81 433.76</u></div>
<div><u>Varna 2.15 11.27 414.012.20 11.76 431.92</u></div>
<div><u>Trenton 2.11 11.23 412.542.20 11.76 431.92</u></div>
<div><u>Winchester 2.11 11.23 412.542.19 11.75 431.55</u></div>
<div><u>North Gower 2.10 11.22 412.172.28 11.84 434.86</u></div>
<div><u>Huron FOB 2.25 11.37 417.682.30 11.86 435.60</u></div>
<div><u>Kent FOB 2.40 11.52 423.202.15 11.71 430.09</u></div>
<div><u>Lambton FOB 2.20 11.32 415.852.30 11.86 435.60</u></div>
<div><u>Middlesex FOB2.26 2.26 2.23 2.30 11.38 418.052.28 11.84 434.86</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Windsor 2.77 N/A N/A N/A 11.89 436.792.58 12.14 445.88</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton 2.50 11.62 426.872.60 12.16 446.62</u></div>
<div><u>Prescott N/A 2.65 12.21 448.46</u></div>
<div><u>Port Colborne N/A 2.64 12.20 448.09</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.46 8.66 318.05-0.66 8.90 326.92</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.3185 up 0.0047</u></div>
<div><u>Chicago wheat closed lower.</u></div>
<div><u>MAR19 HI 4.90 JUL19 HI 4.98 1/4</u></div>
<div><u> LOW 4.66 1/4 LOW 4.77</u></div>
<div><u> CLOSE 4.66 3/4 Down 20 CLOSE 4.77 3/4 Down 17 1/4</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly to moderately lower.</u></div>
<div><u>MAR19 HI 5.70 3/4 SEP19 HI 5.77 1/4</u></div>
<div><u> LOW 5.54 LOW 5.63 1/4</u></div>
<div><u> CLOSE 5.61 Down 5 3/4 CLOSE 5.64 Down 10</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 1.49 1.55 1.35 0.86</u></div>
<div><u>CAD $/bu 6.15 6.22 6.02 6.47</u></div>
<div><u>CAD $/tonne 226.12 228.54 221.28 237.87</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 1.20 N/A</u></div>
<div><u>London 1.27 1.47 1.14 N/A 1.36 1.36 1.16 N/A</u></div>
<div><u>Hensall 1.40 N/A 1.25 N/A 1.45 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 1.45 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 1.10 N/A</u></div>
<div><u>Norwich 1.40 N/A 1.25 N/A 1.45 N/A 1.20 N/A</u></div>
<div><u>Port Hope N/A N/A 1.25 N/A N/A 1.30 1.20 N/A</u></div>
<div><u>Kent Bridge 1.40 N/A 1.25 N/A 1.45 N/A 1.20 N/A</u></div>
<div><u>Chatham N/A N/A 1.25 N/A N/A N/A 1.15 N/A</u></div>
<div><u>Brigden N/A N/A 1.25 N/A N/A N/A 1.15 N/A</u></div>
<div><u>Palmerston N/A 1.55 1.05 1.10 N/A 1.60 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 1.40 1.40 1.25 N/A 1.45 1.45 1.20 N/A</u></div>
<div><u>Thornton N/A N/A N/A 0.22 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 1.45 1.30 0.60 N/A 1.55 1.35 0.65</u></div>
<div><u>W O Feed 1.78</u></div>
<div><u><br>
</u></div>
<div><u>TERMINAL</u></div>
<div><u>Port Colbor N/A N/A N/A N/A 1.71 1.71 1.51 N/A</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Toledo FM N/A N/A 1.68 N/A N/A N/A 1.64 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 4.62US 6.09CA 4.63US 6.09CA</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 1.44 1.51 1.31 0.79</u></div>
<div><u>CAD $/bu 6.22 6.29 6.09 6.43</u></div>
<div><u>CAD $/tonne 228.53 230.95 223.70 236.39</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 464.52</u></div>
<div><u>DDG's FOB Srn & Aylm 170.00 - 180.00</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<u></u><span style="font-size: 10pt; line-height: 115%; font-family: "Courier New"; color: rgb(51, 51, 51); background: rgb(253, 253, 253);">Blair Andrews</span><span style="font-size: 10pt; line-height: 115%; font-family: "Courier New"; color: rgb(51, 51, 51);"><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><span style="font-size: 11pt; line-height: 115%; font-family: Calibri, sans-serif;"><a href="callto:519-674-1500" id="LPlnk307869" class="OWAAutoLink" previewremoved="true"><span style="font-size: 10pt; line-height: 115%; font-family: "Courier New"; color: rgb(51, 102, 153);">519-674-1500</span></a></span><span class="apple-converted-space" style=""><span style="font-size:10.0pt;line-height:115%;
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