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<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, April 3</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.3308 down 0.0012</u></div>
<div><u>Chicago corn closed slightly higher.</u></div>
<div><u><br>
</u></div>
<div><u> MAY19 HI 3.64 3/4 DEC19 HI 3.92 3/4</u></div>
<div><u> LOW 3.60 1/2 LOW 3.89</u></div>
<div><u> CLOSE3.62 3/4 Up 1 1/4 CLOSE 3.90 3/4 Up 1 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 +JUL19+JUL19+SEP19</u></div>
<div><u>CK Low 1.00 4.63 182.18 0.90 4.81 189.26</u></div>
<div><u>CK High 1.00 4.63 182.18 0.90 4.81 189.26</u></div>
<div><u>CK Avg 1.00 -0.15 4.63 182.18 0.90 -0.30 4.81 189.26</u></div>
<div><u>Essex Cty 1.00 4.63 182.18 0.90 4.81 189.26</u></div>
<div><u>Mdsx Low 1.00 4.63 182.18 0.90 4.81 189.26</u></div>
<div><u>Mdsx High 1.00 4.63 182.18 0.90 4.81 189.26</u></div>
<div><u>Mdsx Avg 1.00 -0.15 4.63 182.18 0.90 -0.30 4.81 189.26</u></div>
<div><u>Hensall 1.00 4.63 182.18 0.90 4.81 189.26</u></div>
<div><u>Bruce 1.00 4.63 182.18 0.90 4.81 189.26</u></div>
<div><u>Putnam 1.00 4.63 182.18 0.90 4.81 189.26</u></div>
<div><u>Burford 1.00 4.63 182.18 0.90 4.81 189.26</u></div>
<div><u>Port Perry 0.95 4.58 180.21 0.90 4.81 189.26</u></div>
<div><u>Norfolk 1.00 4.63 182.18 0.90 4.81 189.26</u></div>
<div><u>Palmerston 1.00 4.63 182.18 0.85 4.76 187.29</u></div>
<div><u>Varna 1.00 4.63 182.18 0.90 4.81 189.26</u></div>
<div><u>Trenton 1.00 4.63 182.18 0.90 4.81 189.26</u></div>
<div><u>Winchester 1.10 4.73 186.11 1.20 5.11 201.07</u></div>
<div><u>North Gower 1.10 4.73 186.11 1.18 5.09 200.29</u></div>
<div><u>Huron FOB 1.27 4.90 192.81 0.90 4.81 189.26</u></div>
<div><u>Kent FOB 1.30 4.93 193.99 0.95 4.86 191.23</u></div>
<div><u>Lamb FOB 1.26 4.89 192.41 0.93 4.84 190.44</u></div>
<div><u>Mdsx FOB 1.40 1.40N/A N/A 5.03 197.92 0.95 4.86 191.23</u></div>
<div><u>FOB SW Que 1.88 5.51 216.82 1.39 5.30 208.55</u></div>
<div><u>Track 1.45 5.08 199.89N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A N/A 1.65 1.14 5.05 198.71</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A 1.54 1.27 5.18 203.83</u></div>
<div><u>Aylmer-Eth N/A 1.55 1.55 1.60 1.12 5.03 197.92</u></div>
<div><u>Sarn-Eth N/A 1.40N/A N/A 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 1.68 1.20 5.11 201.07</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 1.65 1.35 5.26 206.98</u></div>
<div><u>W O Feed 1.56 5.19 204.32</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.76 5.39 212.10</u></div>
<div><u>Toledo El. -0.09 3.53 139.14 -0.27 3.64 143.35</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Port ColbornN/A 1.15 5.06199 1/9</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 1.00 4.62 3/4</u></div>
<div><u>HI SD CRN 1.00 4.62 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 1.3308 down 0.0012</u></div>
<div><u>Chicago soybeans closed slightly lower.</u></div>
<div><u><br>
</u></div>
<div><u> MAY19 HI 9.03 NOV19 HI 9.35 3/4</u></div>
<div><u> LOW 8.94 3/4 LOW 9.28 1/4</u></div>
<div><u> CLOSE8.98 3/4 Down 1 1/4 CLOSE 9.32 Down 3/4</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 +MAY1+JUL1+JUL19</u></div>
<div><u>CK Low 2.10 11.09 407.402.15 11.47 421.45</u></div>
<div><u>CK High 2.20 11.19 411.072.25 11.57 425.12</u></div>
<div><u>CK Average 2.15 -0.6211.14 409.292.18 -0.6811.50 422.37</u></div>
<div><u>Essex Cty 2.15 11.14 409.232.15 11.47 421.45</u></div>
<div><u>Mdsx Low 2.14 11.13 408.872.13 11.45 420.72</u></div>
<div><u>Mdsx High 2.15 11.14 409.232.15 11.47 421.45</u></div>
<div><u>Mdsx Average 2.15 -0.6211.13 409.052.14 -0.7111.46 421.08</u></div>
<div><u>Hensall 2.13 11.11 408.312.15 11.47 421.45</u></div>
<div><u>Bruce 2.10 11.09 407.402.15 11.47 421.45</u></div>
<div><u>Putnam 2.15 11.14 409.232.15 11.47 421.45</u></div>
<div><u>Burford 2.14 11.13 408.872.13 11.45 420.72</u></div>
<div><u>Port Perry 2.10 11.09 407.402.09 11.41 419.25</u></div>
<div><u>Norfolk 2.10 11.09 407.402.15 11.47 421.45</u></div>
<div><u>Palmerston 2.10 11.09 407.402.15 11.47 421.45</u></div>
<div><u>Varna 2.10 11.09 407.402.15 11.47 421.45</u></div>
<div><u>Trenton 2.15 11.14 409.232.20 11.52 423.29</u></div>
<div><u>Winchester 2.07 11.06 406.292.25 11.57 425.12</u></div>
<div><u>North Gower 2.12 11.11 408.132.28 11.60 426.23</u></div>
<div><u>Huron FOB 2.20 11.19 411.072.25 11.57 425.12</u></div>
<div><u>Kent FOB 2.30 11.29 414.742.15 11.47 421.45</u></div>
<div><u>Lambton FOB 2.35 11.34 416.582.40 11.72 430.64</u></div>
<div><u>Middlesex FOB2.31 2.37 2.35 N/A 11.30 415.112.23 11.55 424.39</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Windsor 2.66 11.65 427.972.57 11.89 436.88</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton 2.60 11.59 425.772.60 11.92 437.99</u></div>
<div><u>Prescott N/A 2.50 11.82 434.31</u></div>
<div><u>Port Colborne N/A 2.57 11.89 436.88</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.51 8.48 311.65-0.67 8.65 318.00</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.3308 down 0.0012</u></div>
<div><u>Chicago wheat closed slightly to moderately higher.</u></div>
<div><u>MAY19 HI 4.72 3/4 JUL19 HI 4.76 3/4</u></div>
<div><u> LOW 4.63 LOW 4.67 1/4</u></div>
<div><u> CLOSE 4.71 Up 7 CLOSE 4.74 1/2 Up 6</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly to moderately lower.</u></div>
<div><u>MAY19 HI 5.47 SEP19 HI 5.60</u></div>
<div><u> LOW 5.32 1/4 LOW 5.49 1/2</u></div>
<div><u> CLOSE 5.34 3/4 Down 7 CLOSE 5.51 3/4 Down 4 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 1.56 1.62 1.43 0.84</u></div>
<div><u>CAD $/bu 6.27 6.33 6.14 6.19</u></div>
<div><u>CAD $/tonne 230.32 232.77 225.43 227.26</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 1.31 1.64 1.18 N/A 1.40 1.60 1.20 N/A</u></div>
<div><u>Hensall 1.40 N/A 1.25 N/A 1.50 N/A 1.20 N/A</u></div>
<div><u>Trenton N/A N/A N/A N/A N/A N/A 1.25 N/A</u></div>
<div><u>Bruce 1.25 1.75 1.25 N/A 1.35 1.60 1.20 1.00</u></div>
<div><u>Essex N/A N/A 1.20 N/A N/A N/A 1.20 N/A</u></div>
<div><u>Norwich 1.40 N/A 1.25 N/A 1.50 N/A 1.20 N/A</u></div>
<div><u>Port Hope N/A N/A N/A N/A N/A 1.45 1.25 N/A</u></div>
<div><u>Kent Bridge 1.40 N/A 1.25 N/A 1.50 N/A 1.20 N/A</u></div>
<div><u>Chatham N/A N/A 1.20 N/A N/A N/A 1.20 N/A</u></div>
<div><u>Brigden N/A N/A 1.20 N/A N/A N/A 1.20 N/A</u></div>
<div><u>Palmerston N/A 1.75 1.25 1.10 N/A 1.57 1.17 1.00</u></div>
<div><u>Varna 1.45 1.75 1.25 N/A 1.35 1.60 1.20 N/A</u></div>
<div><u>Mitchell 1.40 1.45 1.25 N/A 1.50 1.60 1.20 N/A</u></div>
<div><u>Thornton N/A N/A N/A 1.11 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 1.50 1.35 0.80 N/A 1.92 1.49 0.90</u></div>
<div><u>W O Feed 1.72</u></div>
<div><u><br>
</u></div>
<div><u>TERMINAL</u></div>
<div><u>Port Colbor N/A N/A N/A N/A 1.75 1.95 1.55 N/A</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Toledo FM N/A N/A 1.76 N/A N/A N/A 1.70 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 4.66US 6.20CA 4.60US 6.12CA</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 1.64 1.97 1.50 0.96</u></div>
<div><u>CAD $/bu 6.38 6.71 6.25 6.48</u></div>
<div><u>CAD $/tonne 234.48 246.70 229.59 238.02</u></div>
<div><u><br>
</u></div>
<div><u>(C)-Basis over the Chicago Board of Trade futures</u></div>
<div><u>(M)-Basis over the Minneapolis Grain Exchange</u></div>
<div><u><br>
</u></div>
<div><u>FEED GRAINS</u></div>
<div><u>FOB Hm Soymeal 469.59</u></div>
<div><u>DDG's FOB Srn & Aylm 205.00 - 210.00</u></div>
<div><u><br>
</u></div>
---
<p></p>
<p style="margin-top:0;margin-bottom:0"><br>
</p>
<p style="margin-top:0;margin-bottom:0">Ontario Grain Market Commentary for April 3, 2019</p>
<p style="margin-top:0;margin-bottom:0">By Marty Hibbs, Grain Farmers of Ontario</p>
<p style="margin-top:0;margin-bottom:0"><br>
</p>
<p style="margin-top:0;margin-bottom:0"></p>
<div>Futures Prices as of close, April 3, 2019</div>
<div>Commodity<span style="white-space:pre"> </span>Period<span style="white-space:pre">
</span>Price<span style="white-space:pre"> </span>Weekly Movement</div>
<div>Corn CBOT<span style="white-space:pre"> </span>May<span style="white-space:pre">
</span>3.63<span style="white-space:pre"> </span>$B"-(B 11 cents</div>
<div>Soybeans CBOT<span style="white-space:pre"> </span>May<span style="white-space:pre">
</span>8.99<span style="white-space:pre"> </span>$B",(B 11 cents</div>
<div>Wheat CBOT<span style="white-space:pre"> </span>May<span style="white-space:pre">
</span>4.71<span style="white-space:pre"> </span>$B",(B 01 cents</div>
<div>Wheat Minn.<span style="white-space:pre"> </span>May<span style="white-space:pre">
</span>5.50<span style="white-space:pre"> </span>$B"-(B 20 cents</div>
<div>Wheat Kansas<span style="white-space:pre"> </span>May<span style="white-space:pre">
</span>4.37<span style="white-space:pre"> </span>$B"-(B 07 cents</div>
<div>Oats CBOT<span style="white-space:pre"> </span>May<span style="white-space:pre">
</span>2.86<span style="white-space:pre"> </span>$B",(B 16 cents</div>
<div><span style="white-space:pre"></span></div>
<div>Canadian $<span style="white-space:pre"> </span>Jun<span style="white-space:pre">
</span>0.7515<span style="white-space:pre"> </span>$B",(B 0.35 points</div>
<div><br>
</div>
<div><br>
</div>
<div>Corn:</div>
<div>Corn decided to head lower when the $3.80 overhead resistance level failed to give way. We are now back knocking on the support line at the $3.50 level based on the May futures contract. The bad news is that even though the $3.50 level may hold a while
longer, I received a red sell signal on my weekly charts. These are generally very dependable in the longer term, but I would not discount a short term rally once again before breaking below that $3.50 support base. </div>
<div>For now, the support is seen at the $3.50 level and overhead resistance is pegged at $3.85. The intermediate indicators are neutral, and the primary trend remains down. </div>
<div><br>
</div>
<div>Soybeans:</div>
<div>The May soybean chart looks very heavy and even though we may not see much downside in the short term, it does look as though we will see the $8.65 contract lows challenged on the May contract. The longer term chart does not look much better, and if I
were to eyeball the primary chart trend (the monthly), I would be worried that we may indeed head lower into the fall of this year if nothing fundamentally changes. The support line remains 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><br>
</div>
<div>Wheat:</div>
<div>Wheat performed well this week as it continues to climb towards our $5 target on the lead month contract. 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 change pending weather or political related news in the coming week. </div>
<div>Major 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. </div>
<div>Our intermediate indicators remain neutral and the long term or primary indicators are still neutral to bullish. </div>
<div> </div>
<div><span style="font-size: 10pt;">Cash Grain prices as of the close, April 3, 2019 are as follows:</span><br>
</div>
<div>SWW @ $230.38/MT ($6.28/bu), HRW @ $232.83/MT ($6.34/bu), </div>
<div> HRS @ $227.45/MT ($6.19/bu), SRW @ $225.49/MT ($6.14/bu). </div>
<div>----</div>
<br>
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<span style="background:#FDFDFD">Editor, AgriLink and Farm Market News<span class="apple-converted-space"> </span></span><br>
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