<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" style="font-size:10pt;color:#000000;font-family:'Courier New',monospace;" dir="ltr">
<p style="margin-top:0;margin-bottom:0"><u></u></p>
<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, March 27</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.3376 up 0.0024</u></div>
<div><u>Chicago corn closed slightly lower.</u></div>
<div><u><br>
</u></div>
<div><u> MAY19 HI 3.77 DEC19 HI 3.99 3/4</u></div>
<div><u> LOW 3.72 LOW 3.96</u></div>
<div><u> CLOSE3.73 3/4 Down 3 1/2 CLOSE 3.98 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 1.00 4.74 186.51 0.90 4.88 192.12</u></div>
<div><u>CK High 1.00 4.74 186.51 0.90 4.88 192.12</u></div>
<div><u>CK Avg 1.00 -0.20 4.74 186.51 0.90 -0.33 4.88 192.12</u></div>
<div><u>Essex Cty 1.00 4.74 186.51 0.90 4.88 192.12</u></div>
<div><u>Mdsx Low 1.00 4.74 186.51 0.90 4.88 192.12</u></div>
<div><u>Mdsx High 1.00 4.74 186.51 0.90 4.88 192.12</u></div>
<div><u>Mdsx Avg 1.00 -0.20 4.74 186.51 0.90 -0.33 4.88 192.12</u></div>
<div><u>Hensall 1.00 4.74 186.51 0.90 4.88 192.12</u></div>
<div><u>Bruce 1.00 4.74 186.51 0.90 4.88 192.12</u></div>
<div><u>Putnam 1.00 4.74 186.51 0.90 4.88 192.12</u></div>
<div><u>Burford 1.00 4.74 186.51 0.90 4.88 192.12</u></div>
<div><u>Port Perry 0.95 4.69 184.54 0.90 4.88 192.12</u></div>
<div><u>Norfolk 1.00 4.74 186.51 0.90 4.88 192.12</u></div>
<div><u>Palmerston 0.95 4.69 184.54 0.85 4.83 190.15</u></div>
<div><u>Varna 1.00 4.74 186.51 0.90 4.88 192.12</u></div>
<div><u>Trenton 0.95 4.69 184.54 0.85 4.83 190.15</u></div>
<div><u>Winchester 1.05 4.79 188.48 1.15 5.13 201.96</u></div>
<div><u>North Gower 1.10 4.84 190.44 1.18 5.16 203.14</u></div>
<div><u>Huron FOB 1.25 4.99 196.35 0.90 4.88 192.12</u></div>
<div><u>Kent FOB 1.30 5.04 198.32 0.95 4.93 194.09</u></div>
<div><u>Lamb FOB 1.32 5.06 199.10 1.00 4.98 196.05</u></div>
<div><u>Mdsx FOB 1.35N/A N/A N/A 5.09 200.29 0.95 4.93 194.09</u></div>
<div><u>FOB SW Que 1.68 5.42 213.28N/A</u></div>
<div><u>Track 1.43 5.16 203.24N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A N/A N/A 1.20 5.18 203.93</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A N/A 1.33 5.31 209.05</u></div>
<div><u>Aylmer-Eth N/A N/A 1.60 1.60 1.15 5.13 201.96</u></div>
<div><u>Sarn-Eth N/A N/A 1.40 1.40 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 N/A 1.20 5.18 203.93</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 1.35 5.33 209.83</u></div>
<div><u>W O Feed 1.61 5.35 210.60</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.87 5.61 220.76</u></div>
<div><u>Toledo El. -0.09 3.64 143.45 -0.27 3.71 146.15</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Port ColbornN/A 1.15 5.13202</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 1.00 4.73 3/4</u></div>
<div><u>HI SD CRN 1.00 4.73 3/4</u></div>
<div><u>*Wet Bid</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.3376 up 0.0024</u></div>
<div><u>Chicago soybeans closed slightly to moderately lower.</u></div>
<div><u><br>
</u></div>
<div><u> MAY19 HI 9.00 3/4 NOV19 HI 9.34</u></div>
<div><u> LOW 8.86 LOW 9.20 3/4</u></div>
<div><u> CLOSE8.87 1/2 Down 13 1/4 CLOSE 9.23 1/4 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 2.15 11.03 405.102.19 11.42 419.71</u></div>
<div><u>CK High 2.25 11.13 408.772.30 11.53 423.75</u></div>
<div><u>CK Average 2.22 -0.5811.10 407.792.26 -0.6411.49 422.15</u></div>
<div><u>Essex Cty 2.30 11.18 410.612.25 11.48 421.91</u></div>
<div><u>Mdsx Low 2.23 11.11 408.042.23 11.46 421.17</u></div>
<div><u>Mdsx High 2.25 11.13 408.772.25 11.48 421.91</u></div>
<div><u>Mdsx Average 2.24 -0.5711.12 408.412.24 -0.6611.47 421.54</u></div>
<div><u>Hensall 2.25 11.13 408.772.25 11.48 421.91</u></div>
<div><u>Bruce 2.25 11.13 408.772.25 11.48 421.91</u></div>
<div><u>Putnam 2.25 11.13 408.772.25 11.48 421.91</u></div>
<div><u>Burford 2.24 11.12 408.412.06 11.29 414.93</u></div>
<div><u>Port Perry 2.19 11.07 406.572.19 11.42 419.71</u></div>
<div><u>Norfolk 2.25 11.13 408.772.25 11.48 421.91</u></div>
<div><u>Palmerston 2.15 11.03 405.102.25 11.48 421.91</u></div>
<div><u>Varna 2.25 11.13 408.772.25 11.48 421.91</u></div>
<div><u>Trenton 2.20 11.08 406.942.25 11.48 421.91</u></div>
<div><u>Winchester 2.13 11.01 404.362.25 11.48 421.91</u></div>
<div><u>North Gower 2.12 11.00 404.002.39 11.62 427.05</u></div>
<div><u>Huron FOB 2.35 11.23 412.452.35 11.58 425.58</u></div>
<div><u>Kent FOB 2.40 11.28 414.292.25 11.48 421.91</u></div>
<div><u>Lambton FOB 2.50 11.38 417.962.45 11.68 429.26</u></div>
<div><u>Middlesex FOB2.29 2.36 2.44 2.43 11.17 410.242.36 11.59 425.95</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Windsor 2.75 11.63 427.152.60 11.83 434.77</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton 2.65 11.53 423.472.70 11.93 438.44</u></div>
<div><u>Prescott N/A 2.55 11.78 432.93</u></div>
<div><u>Port Colborne N/A 2.70 11.93 438.44</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.56 8.31 305.46-0.67 8.56 314.66</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.3376 up 0.0024</u></div>
<div><u>Chicago wheat closed slightly higher.</u></div>
<div><u>MAY19 HI 4.71 3/4 JUL19 HI 4.76 3/4</u></div>
<div><u> LOW 4.66 1/2 LOW 4.71 3/4</u></div>
<div><u> CLOSE 4.69 1/2 Up 1/4 CLOSE 4.75 Up 1/2</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly higher.</u></div>
<div><u>MAY19 HI 5.68 3/4 SEP19 HI 5.72 1/4</u></div>
<div><u> LOW 5.63 1/4 LOW 5.68 1/2</u></div>
<div><u> CLOSE 5.67 3/4 Up 1/2 CLOSE 5.71 1/2 Up 1 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 1.59 1.65 1.45 0.98</u></div>
<div><u>CAD $/bu 6.28 6.35 6.15 6.66</u></div>
<div><u>CAD $/tonne 230.75 233.21 225.84 244.64</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 1.25 N/A</u></div>
<div><u>London 1.38 1.71 1.24 N/A 1.45 1.65 1.25 N/A</u></div>
<div><u>Hensall 1.40 N/A 1.25 N/A 1.50 N/A 1.25 N/A</u></div>
<div><u>Trenton N/A N/A N/A N/A N/A N/A 1.30 N/A</u></div>
<div><u>Bruce 1.25 1.75 1.25 N/A 1.40 1.65 1.25 1.00</u></div>
<div><u>Essex N/A N/A 1.25 N/A N/A N/A 1.25 N/A</u></div>
<div><u>Norwich 1.35 N/A 1.20 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 1.55 1.25 N/A</u></div>
<div><u>Kent Bridge 1.40 N/A 1.25 N/A 1.50 N/A 1.25 N/A</u></div>
<div><u>Chatham N/A N/A 1.25 N/A N/A N/A 1.25 N/A</u></div>
<div><u>Brigden N/A N/A 1.25 N/A N/A N/A 1.25 N/A</u></div>
<div><u>Palmerston N/A 1.65 1.10 1.10 N/A 1.53 1.18 1.00</u></div>
<div><u>Varna 1.45 1.75 1.25 N/A 1.40 1.65 1.25 N/A</u></div>
<div><u>Mitchell 1.40 1.45 1.25 N/A 1.50 1.60 1.25 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 1.50 1.41 0.80 N/A 1.98 1.57 0.95</u></div>
<div><u>W O Feed 1.70</u></div>
<div><u><br>
</u></div>
<div><u>TERMINAL</u></div>
<div><u>Port Colbor N/A N/A N/A N/A 1.79 1.99 1.59 N/A</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Toledo FM N/A N/A 1.79 N/A N/A N/A 1.74 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 4.65US 6.21CA 4.60US 6.15CA</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 1.67 2.00 1.54 1.06</u></div>
<div><u>CAD $/bu 6.42 6.75 6.29 6.78</u></div>
<div><u>CAD $/tonne 235.91 248.20 231.00 248.94</u></div>
<div><u><br>
</u></div>
<div><u>(C)-Basis over the Chicago Board of Trade futures</u></div>
<div><u>(M)-Basis over the Minneapolis Grain Exchange</u></div>
<div><u><br>
</u></div>
<div><u>FEED GRAINS</u></div>
<div><u>FOB Hm Soymeal 462.32</u></div>
<div><u>DDG's FOB Srn & Aylm 205.00</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<u><br>
</u>
<p></p>
<div id="Signature">
<div id="divtagdefaultwrapper" style="font-size: 12pt; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-family: Calibri, Arial, Helvetica, sans-serif, EmojiFont, "Apple Color Emoji", "Segoe UI Emoji", NotoColorEmoji, "Segoe UI Symbol", "Android Emoji", EmojiSymbols;">
<div><span style="font-family:"Courier New",monospace; font-size:10pt"></span></div>
<div style="">Futures Prices as of close, March 27, 2019</div>
<div style="">Commodity<span style="white-space:pre"> </span>Period<span style="white-space:pre">
</span>Price<span style="white-space:pre"> </span>Weekly Movement</div>
<div style="">Corn CBOT<span style="white-space:pre"> </span>May<span style="white-space:pre">
</span>3.74<span style="white-space:pre"> </span>$B",(B 04 cents</div>
<div style="">Soybeans CBOT<span style="white-space:pre"> </span>May<span style="white-space:pre">
</span>8.88<span style="white-space:pre"> </span>$B"-(B 15 cents</div>
<div style="">Wheat CBOT<span style="white-space:pre"> </span>May<span style="white-space:pre">
</span>4.70<span style="white-space:pre"> </span>$B",(B 06 cents</div>
<div style="">Wheat Minn.<span style="white-space:pre"> </span>May<span style="white-space:pre">
</span>5.70<span style="white-space:pre"> </span>$B",(B 00 cents</div>
<div style="">Wheat Kansas<span style="white-space:pre"> </span>May<span style="white-space:pre">
</span>4.45<span style="white-space:pre"> </span>$B"-(B 07 cents</div>
<div style="">Oats CBOT<span style="white-space:pre"> </span>May<span style="white-space:pre">
</span>2.70<span style="white-space:pre"> </span>$B"-(B 06 cents</div>
<div style=""><span style="white-space:pre"></span></div>
<div style="">Canadian $<span style="white-space:pre"> </span>Jun<span style="white-space:pre">
</span>0.7475<span style="white-space:pre"> </span>$B"-(B 0.75 points</div>
<div style=""><br>
</div>
<div style=""><br>
</div>
<div style="">Corn:</div>
<div style="">Corn had a positive week on the charts and it looks like we may attempt to challenge the all-important $3.80 - $3.90 range in the near future. A close above the $3.90 level on the May futures should set us up for an attempt at a solid resistance
line and a shot at the $4 level. The wave count on the weekly chart supports something as insane as a short covering rally that could push us into the $4.20 - $4.40 area. This is not to say that it is going to happen, but the charts have well defined targets
and if we were to get some sort of a surprise in the coming weeks, the short covering by the funds could catapult prices much higher than most would anticipate. </div>
<div style="">For now, the support is seen at the $3.50 level and overhead resistance is pegged at $4.85. The intermediate indicators are neutral to mildly bullish, but the primary trend remains down. </div>
<div style=""><br>
</div>
<div style="">Soybeans:</div>
<div style="">The May soybean contract traded below our $9 floor and looks weaker than its counterparts. To review, short-term indicators are negative, while the intermediate indicators are neutral, and the primary or long-term trend remains down as it has
been since 2013. The support line is now at $8.80 on the May futures and overhead resistance is near the $9.50 level. Soybeans currently look to be the weakest of the three main grains. </div>
<div style=""><br>
</div>
<div style="">Wheat:</div>
<div style="">We are very content with our call on the wheat market as we saw our washout on the May contract dropping from the $4.90 level on the May futures to $4.25 in the last two weeks. What is more impressive was the quick rebound that we were looking
for as the May contract has recovered to $4.70 and appears to be getting ready to challenge the $4.90 - $5 level in the coming weeks. This of course is strictly technical and could easily be derailed with any significant news in the coming week. </div>
<div style="">May support is still seen at the $4.25 level on the futures and our overhead challenge is still to clear this $4.85 level on a close. Once we achieve this, we should be ready to challenge the $5 target. Indicators have not yet confirmed my bullish
outlook as they show mixed signals on the short-term indicators, which have been negative since February 15 of this year. The intermediate indicators remain neutral and the long term or primary indicators are still neutral to bullish. </div>
<div style=""> </div>
<div style=""><br>
</div>
<div style="">Marty Hibbs, Grain Farmers of Ontario</div>
<div style=""><br>
</div>
<div style=""><br>
</div>
<div style="">Cash Grain prices as of the close, March 27, 2019 are as follows:</div>
<div style="">SWW @ $230.72/MT ($6.28/bu), HRW @ $233.18/MT ($6.35/bu), </div>
<div style=""> HRS @ $244.72/MT ($6.66/bu), SRW @ $225.80/MT ($6.15/bu). </div>
<div style=""><br>
</div>
<div style="">
<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="LPlnk324317" 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="LPlnk630179" 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>
<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<o:p></o:p></span></span></p>
<br>
</div>
<div style=""><br>
</div>
<br>
<p></p>
<p><br>
</p>
</div>
</div>
</div>
</body>
</html>