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<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, March 6</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.3422 up 0.0089</u></div>
<div><u>Chicago corn closed slightly lower.</u></div>
<div><u><br>
</u></div>
<div><u> MAY19 HI 3.76 1/2 DEC19 HI 3.97 3/4</u></div>
<div><u> LOW 3.70 1/2 LOW 3.93 1/4</u></div>
<div><u> CLOSE3.72 1/2 Down 3 1/4 CLOSE 3.95 Down 2 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+JUL19+JUL19</u></div>
<div><u>CK Low 0.85 4.58 180.11 0.80 4.75 187.00</u></div>
<div><u>CK High 0.95 4.68 184.05 0.90 4.85 190.94</u></div>
<div><u>CK Avg 0.92 -0.27 4.64 182.73 0.86 -0.36 4.81 189.30</u></div>
<div><u>Essex Cty 0.95 4.68 184.05 0.85 4.80 188.97</u></div>
<div><u>Mdsx Low 0.90 4.63 182.08 0.80 4.75 187.00</u></div>
<div><u>Mdsx High 0.95 4.68 184.05 0.85 4.80 188.97</u></div>
<div><u>Mdsx Avg 0.93 -0.26 4.65 183.06 0.83 -0.38 4.78 187.98</u></div>
<div><u>Hensall 0.93 4.65 183.06 0.83 4.78 187.98</u></div>
<div><u>Bruce 0.90 4.63 182.08 0.80 4.75 187.00</u></div>
<div><u>Putnam 0.95 4.68 184.05 0.85 4.80 188.97</u></div>
<div><u>Burford 0.90 4.63 182.08 0.80 4.75 187.00</u></div>
<div><u>Port Perry 0.85 4.58 180.11 0.80 4.75 187.00</u></div>
<div><u>Norfolk 0.95 4.68 184.05 0.85 4.80 188.97</u></div>
<div><u>Palmerston 0.90 4.63 182.08 0.85 4.80 188.97</u></div>
<div><u>Varna 0.90 4.63 182.08 0.80 4.75 187.00</u></div>
<div><u>Trenton 0.90 4.63 182.08 0.85 4.80 188.97</u></div>
<div><u>Winchester 1.05 4.78 187.98 1.15 5.10 200.78</u></div>
<div><u>North Gower 1.05 4.78 187.98 1.13 5.08 199.99</u></div>
<div><u>Huron FOB 1.20 4.93 193.89 0.90 4.85 190.94</u></div>
<div><u>Kent FOB 1.25 4.98 195.86 0.90 4.85 190.94</u></div>
<div><u>Lamb FOB 1.32 5.05 198.61 0.98 4.93 194.09</u></div>
<div><u>Mdsx FOB 1.25 1.25 1.30N/A 4.98 195.86 0.95 4.90 192.90</u></div>
<div><u>FOB SW Que 1.69 5.42 213.18 1.19 5.14 202.35</u></div>
<div><u>Track 1.43 5.15 202.75N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A N/A N/A 1.11 5.06 199.20</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A N/A 1.31 5.26 207.08</u></div>
<div><u>Aylmer-Eth N/A 1.54 1.51 1.54 1.15 5.10 200.78</u></div>
<div><u>Sarn-Eth 1.35 1.40N/A N/A 5.08 199.79N/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 N/A 1.15 5.10 200.78</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 1.55 1.30 5.25 206.68</u></div>
<div><u>W O Feed 1.58 5.31 208.93</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.83 5.56 218.69</u></div>
<div><u>Toledo El. -0.11 3.62 142.42 -0.27 3.68 144.96</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Port ColbornN/A 1.15 5.10200 7/9</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 0.90 1 4.62 1/2</u></div>
<div><u>HI SD CRN 0.95 4.67 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 1.3422 up 0.0089</u></div>
<div><u>Chicago soybeans closed slightly lower.</u></div>
<div><u><br>
</u></div>
<div><u> MAY19 HI 9.16 1/4 NOV19 HI 9.50</u></div>
<div><u> LOW 9.01 LOW 9.36</u></div>
<div><u> CLOSE9.02 Down 11 3/4 CLOSE 9.36 3/4 Down 11 1/2</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 +MAY1+MAY1+JUL19</u></div>
<div><u>CK Low 2.10 11.12 408.592.25 11.62 426.87</u></div>
<div><u>CK High 2.20 11.22 412.262.25 11.62 426.87</u></div>
<div><u>CK Average 2.15 -0.7011.17 410.432.25 -0.6911.62 426.87</u></div>
<div><u>Essex Cty 2.20 11.22 412.262.25 11.62 426.87</u></div>
<div><u>Mdsx Low 2.15 11.17 410.432.25 11.62 426.87</u></div>
<div><u>Mdsx High 2.24 11.26 413.732.29 11.66 428.34</u></div>
<div><u>Mdsx Average 2.20 -0.6611.22 412.082.27 -0.6811.64 427.60</u></div>
<div><u>Hensall 2.15 11.17 410.432.25 11.62 426.87</u></div>
<div><u>Bruce 2.15 11.17 410.432.25 11.62 426.87</u></div>
<div><u>Putnam 2.15 11.17 410.432.25 11.62 426.87</u></div>
<div><u>Burford 2.24 11.26 413.732.29 11.66 428.34</u></div>
<div><u>Port Perry 2.20 11.22 412.262.25 11.62 426.87</u></div>
<div><u>Norfolk 2.15 11.17 410.432.25 11.62 426.87</u></div>
<div><u>Palmerston 2.15 11.17 410.432.35 11.72 430.54</u></div>
<div><u>Varna 2.15 11.17 410.432.25 11.62 426.87</u></div>
<div><u>Trenton 2.10 11.12 408.592.25 11.62 426.87</u></div>
<div><u>Winchester 2.11 11.13 408.962.29 11.66 428.34</u></div>
<div><u>North Gower 2.07 11.09 407.492.39 11.76 432.01</u></div>
<div><u>Huron FOB 2.30 11.32 415.942.40 11.77 432.38</u></div>
<div><u>Kent FOB 2.35 11.37 417.782.25 11.62 426.87</u></div>
<div><u>Lambton FOB 2.50 11.52 423.292.45 11.82 434.22</u></div>
<div><u>Middlesex FOB2.49 2.49 2.53 2.49 11.51 422.922.53 11.90 437.16</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Windsor 2.78 N/A N/A N/A 11.80 433.582.67 12.04 442.30</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton 2.65 11.67 428.802.75 12.12 445.24</u></div>
<div><u>Prescott N/A 2.75 12.12 445.24</u></div>
<div><u>Port Colborne N/A 2.76 12.13 445.61</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.56 8.46 310.72-0.67 8.70 319.59</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.3422 up 0.0089</u></div>
<div><u>Chicago wheat closed moderately lower to lower.</u></div>
<div><u>MAY19 HI 4.64 1/4 JUL19 HI 4.69 3/4</u></div>
<div><u> LOW 4.49 1/4 LOW 4.54 3/4</u></div>
<div><u> CLOSE 4.50 Down 12 3/4 CLOSE 4.55 1/2 Down 12 1/2</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly lower.</u></div>
<div><u>MAY19 HI 5.56 3/4 SEP19 HI 5.65 1/2</u></div>
<div><u> LOW 5.50 1/4 LOW 5.60 1/4</u></div>
<div><u> CLOSE 5.53 Down 2 1/2 CLOSE 5.61 3/4 Down 3 1/2</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 1.54 1.61 1.41 0.95</u></div>
<div><u>CAD $/bu 6.04 6.11 5.91 6.48</u></div>
<div><u>CAD $/tonne 221.93 224.39 217.00 238.20</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 1.15 N/A N/A N/A 1.15 N/A</u></div>
<div><u>London 1.35 1.69 1.22 N/A 1.41 1.61 1.21 N/A</u></div>
<div><u>Hensall 1.30 N/A 1.15 N/A 1.40 N/A 1.15 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 1.25 1.55 1.15 N/A 1.40 1.45 1.15 1.00</u></div>
<div><u>Essex N/A N/A 1.15 N/A N/A N/A 1.10 N/A</u></div>
<div><u>Norwich 1.30 N/A 1.15 N/A 1.40 N/A 1.15 N/A</u></div>
<div><u>Port Hope N/A N/A 1.15 N/A N/A 1.30 1.20 N/A</u></div>
<div><u>Kent Bridge 1.30 N/A 1.15 N/A 1.40 N/A 1.15 N/A</u></div>
<div><u>Chatham N/A N/A 1.15 N/A N/A N/A 1.15 N/A</u></div>
<div><u>Brigden N/A N/A 1.15 N/A N/A N/A 1.15 N/A</u></div>
<div><u>Palmerston N/A 1.55 1.10 1.00 N/A 1.54 1.24 1.00</u></div>
<div><u>Varna 1.25 1.55 1.15 N/A 1.40 1.45 1.15 N/A</u></div>
<div><u>Mitchell 1.30 1.30 1.15 N/A 1.40 1.40 1.15 N/A</u></div>
<div><u>Thornton N/A N/A N/A 0.73 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 1.45 1.31 0.65 N/A 1.67 1.48 0.75</u></div>
<div><u>W O Feed 1.68</u></div>
<div><u><br>
</u></div>
<div><u>TERMINAL</u></div>
<div><u>Port Colbor N/A N/A N/A N/A 1.77 1.97 1.57 N/A</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Toledo FM N/A N/A 1.74 N/A N/A N/A 1.68 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 4.40US 5.91CA 4.41US 5.90CA</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 1.61 1.68 1.48 0.90</u></div>
<div><u>CAD $/bu 6.17 6.23 6.03 6.52</u></div>
<div><u>CAD $/tonne 226.63 229.09 221.71 239.55</u></div>
<div><u><br>
</u></div>
<div><u>(C)-Basis over the Chicago Board of Trade futures</u></div>
<div><u>(M)-Basis over the Minneapolis Grain Exchange</u></div>
<div><u><br>
</u></div>
<div><u>FEED GRAINS</u></div>
<div><u>FOB Hm Soymeal 463.09</u></div>
<div><u>DDG's FOB Srn & Aylm 180.00</u></div>
<div><u><br>
</u></div>
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Ontario Grain Market Commentary for March 6, 2019</div>
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By Marty Hibbs, Grain Farmers of Ontario</div>
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<div>Futures Prices as of close, March 6, 2019</div>
<div>Commodity<span style="white-space:pre"> </span>Period<span style="white-space:pre">
</span>Price<span style="white-space:pre"> </span>Weekly Movement</div>
<div>Corn CBOT<span style="white-space:pre"> </span>May<span style="white-space:pre">
</span>3.72<span style="white-space:pre"> </span>$B"-(B 01 cents</div>
<div>Soybeans CBOT<span style="white-space:pre"> </span>May<span style="white-space:pre">
</span>9.02<span style="white-space:pre"> </span>$B"-(B 14 cents</div>
<div>Wheat CBOT<span style="white-space:pre"> </span>May<span style="white-space:pre">
</span>4.50<span style="white-space:pre"> </span>$B"-(B 15 cents</div>
<div>Wheat Minn.<span style="white-space:pre"> </span>May<span style="white-space:pre">
</span>5.53<span style="white-space:pre"> </span>$B"-(B 01 cents</div>
<div>Wheat Kansas<span style="white-space:pre"> </span>May<span style="white-space:pre">
</span>4.38<span style="white-space:pre"> </span>$B"-(B 14 cents</div>
<div>Oats CBOT<span style="white-space:pre"> </span>May<span style="white-space:pre">
</span>2.69<span style="white-space:pre"> </span>$B",(B 03 cents</div>
<div><span style="white-space:pre"></span></div>
<div>Canadian $<span style="white-space:pre"> </span>Mar<span style="white-space:pre">
</span>0.7450<span style="white-space:pre"> </span>$B"-(B 1.55 points</div>
<div><br>
</div>
<div><br>
</div>
<div>Corn:</div>
<div>Corn had a volatile week with the move down to the $3.65 level on the May contract before rebounding a dime to the $3.75 level. It is too early to tell if this area will hold. The weekly charts suggest we could see a price stamp closer to the $3.50 level
before the intermediate trend line is challenged. There is a good possibility that the expiration of the March contract may lead us to another move lower before the blowout is exhausted. </div>
<div>The intermediate indicators are neutral to bullish, but the primary trend remains down. </div>
<div><br>
</div>
<div>Soybeans:</div>
<div>As suggested last week, the May soybean contract did challenge the $9 level once again. The $9 - $10 range in soybeans will continue until there is a reason to break out of this trading zone. </div>
<div>Short-term indicators are now neutral while the primary trend remains down. The support line is still at $9 on the May futures and resistance is near the $9.50 level.</div>
<div><br>
</div>
<div>Wheat:</div>
<div>We suggested that there would be a blow-out in prices on the wheat futures in our last commentary. The indictors suggested we could see a price stamp on the March contract as low as $4.25 - $4.35 before the expiration of that contract. To date, we have
managed to reach $4.45 on March and there is still a chance we may still see that lower target area reached. The more important indicator would be to see a significant rally in the month of March on the other contract months. This could signal a potential
bottoming formation. Repeating last week$B!G(Bs comments, I strongly recommend that you try not to pick the bottom in this kind of a market. </div>
<div>May support is still seen at the $4.50 level; however, that level will depend a lot on the close out of the March futures contract in the days leading up to expiration near mid-March. Overhead resistance is now back at $5.</div>
<div>Short-term indicators are still negative, but as of this writing the longer term neutral to bullish indicators are still intact. </div>
<div><br>
</div>
<div>Cash Grain prices as of the close, March 6, 2019 are as follows:</div>
<div>SWW @ $221.91/MT ($6.04/bu), HRW @ $224.38/MT ($6.11/bu), </div>
<div> HRS @ $238.18/MT ($6.48/bu), SRW @ $216.98/MT ($5.91/bu). </div>
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<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>
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