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<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, May 16</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.3456 up 0.0031</u></div>
<div><u>Chicago corn closed moderately higher to higher.</u></div>
<div><u><br>
</u></div>
<div><u> JUL19 HI 3.80 3/4 DEC19 HI 3.97 3/4</u></div>
<div><u> LOW 3.68 3/4 LOW 3.88</u></div>
<div><u> CLOSE3.79 Up 9 1/2 CLOSE 3.96 1/2 Up 7 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 +JUL19+SEP19+SEP19</u></div>
<div><u>CK Low 1.10 4.89 192.51 0.90 4.87 191.53</u></div>
<div><u>CK High 1.10 4.89 192.51 0.90 4.87 191.53</u></div>
<div><u>CK Avg 1.10 -0.16 4.89 192.51 0.90 -0.35 4.87 191.53</u></div>
<div><u>Essex Cty 1.10 4.89 192.51 0.90 4.87 191.53</u></div>
<div><u>Mdsx Low 1.10 4.89 192.51 0.90 4.87 191.53</u></div>
<div><u>Mdsx High 1.10 4.89 192.51 0.90 4.87 191.53</u></div>
<div><u>Mdsx Avg 1.10 -0.16 4.89 192.51 0.90 -0.35 4.87 191.53</u></div>
<div><u>Hensall 1.10 4.89 192.51 0.93 4.89 192.51</u></div>
<div><u>Bruce 1.10 4.89 192.51 0.90 4.87 191.53</u></div>
<div><u>Putnam 1.10 4.89 192.51 0.90 4.87 191.53</u></div>
<div><u>Burford 1.10 4.89 192.51 0.90 4.87 191.53</u></div>
<div><u>Port Perry 1.10 4.89 192.51 0.90 4.87 191.53</u></div>
<div><u>Norfolk 1.10 4.89 192.51 0.90 4.87 191.53</u></div>
<div><u>Palmerston 1.05 4.84 190.54 0.95 4.92 193.49</u></div>
<div><u>Varna 1.05 4.84 190.54 0.90 4.87 191.53</u></div>
<div><u>Trenton 1.05 4.84 190.54 0.90 4.87 191.53</u></div>
<div><u>Winchester 1.11 4.90 192.90 1.20 5.17 203.34</u></div>
<div><u>North Gower 1.10 4.89 192.51 1.18 5.15 202.55</u></div>
<div><u>Huron FOB 1.31 5.10 200.78 0.92 4.89 192.31</u></div>
<div><u>Kent FOB 1.40 5.19 204.32 0.90 4.87 191.53</u></div>
<div><u>Lamb FOB 1.45 5.24 206.29 0.98 4.95 194.68</u></div>
<div><u>Mdsx FOB 1.40 1.35 1.45 1.45 5.19 204.32 0.95 4.92 193.49</u></div>
<div><u>FOB SW Que 1.88 5.67 223.22 1.35 5.32 209.24</u></div>
<div><u>Track 1.53 5.32 209.24N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A 1.74 1.78 1.13 5.10 200.58</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A N/A N/A</u></div>
<div><u>Aylmer-Eth 1.60 1.65 1.70 1.75 5.39 212.19 1.10 5.07 199.40</u></div>
<div><u>Sarn-Eth 1.50 1.50N/A N/A 5.29 208.26N/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 1.73 1.20 5.17 203.34</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 5.32 209.24</u></div>
<div><u>W O Feed 1.70 5.49 216.29</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.91 5.70 224.40</u></div>
<div><u>Toledo El. -0.05 3.74 147.09 -0.27 3.70 145.50</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Port ColbornN/A 1.15 5.12201 3/8</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 0.90 4.86 1/2</u></div>
<div><u>HI SD CRN 0.90 4.86 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 1.3456 up 0.0031</u></div>
<div><u>Chicago soybeans closed slightly higher.</u></div>
<div><u><br>
</u></div>
<div><u> JUL19 HI 8.45 NOV19 HI 8.69 3/4</u></div>
<div><u> LOW 8.34 LOW 8.57 3/4</u></div>
<div><u> CLOSE8.39 3/4 Up 4 1/4 CLOSE 8.64 3/4 Up 5</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 +JUL1+JUL1+AUG19</u></div>
<div><u>CK Low 1.92 10.32 379.101.95 10.60 389.39</u></div>
<div><u>CK High 2.05 10.45 383.882.00 10.65 391.23</u></div>
<div><u>CK Average 1.98 -0.6910.38 381.251.96 -0.7610.61 389.76</u></div>
<div><u>Essex Cty 1.95 10.35 380.211.95 10.60 389.39</u></div>
<div><u>Mdsx Low 1.87 10.27 377.271.91 10.56 387.92</u></div>
<div><u>Mdsx High 2.00 10.40 382.041.95 10.60 389.39</u></div>
<div><u>Mdsx Average 1.94 -0.7210.33 379.651.93 -0.7910.58 388.66</u></div>
<div><u>Hensall 2.00 10.40 382.041.95 10.60 389.39</u></div>
<div><u>Bruce 2.00 10.40 382.041.95 10.60 389.39</u></div>
<div><u>Putnam 2.00 10.40 382.041.95 10.60 389.39</u></div>
<div><u>Burford 1.92 10.32 379.101.96 10.61 389.76</u></div>
<div><u>Port Perry 1.89 10.29 378.001.93 10.58 388.66</u></div>
<div><u>Norfolk 1.95 10.35 380.211.95 10.60 389.39</u></div>
<div><u>Palmerston 2.00 10.40 382.041.95 10.60 389.39</u></div>
<div><u>Varna 2.00 10.40 382.041.95 10.60 389.39</u></div>
<div><u>Trenton 2.00 10.40 382.042.00 10.65 391.23</u></div>
<div><u>Winchester N/A 2.00 10.65 391.23</u></div>
<div><u>North Gower 1.99 10.39 381.681.99 10.64 390.86</u></div>
<div><u>Huron FOB 2.10 10.50 385.722.05 10.70 393.07</u></div>
<div><u>Kent FOB 2.15 10.55 387.551.95 10.60 389.39</u></div>
<div><u>Lambton FOB 2.20 10.60 389.392.10 10.75 394.90</u></div>
<div><u>Middlesex FOB2.13 2.13 2.20 N/A 10.53 386.821.97 10.62 390.13</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Windsor 2.44 10.84 398.212.32 10.97 402.99</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton 2.45 10.85 398.582.40 11.05 405.93</u></div>
<div><u>Prescott N/A 2.30 10.95 402.25</u></div>
<div><u>Port Colborne N/A 2.34 10.99 403.72</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.61 7.79 286.31-0.74 7.91 290.55</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.3456 up 0.0031</u></div>
<div><u>Chicago wheat closed higher.</u></div>
<div><u>JUL19 HI 4.68 1/2 JUL19 HI 4.68 1/2</u></div>
<div><u> LOW 4.46 1/4 LOW 4.46 1/4</u></div>
<div><u> CLOSE 4.67 Up 18 1/4 CLOSE 4.67 Up 18 1/4</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed moderately higher.</u></div>
<div><u>JUL19 HI 5.29 1/4 SEP19 HI 5.38 1/2</u></div>
<div><u> LOW 5.15 LOW 5.24 1/2</u></div>
<div><u> CLOSE 5.26 3/4 Up 11 1/2 CLOSE 5.35 3/4 Up 11 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 1.61 1.68 1.48 0.88</u></div>
<div><u>CAD $/bu 6.28 6.35 6.15 6.15</u></div>
<div><u>CAD $/tonne 230.90 233.37 225.96 225.83</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 1.30 N/A N/A N/A 1.30 N/A</u></div>
<div><u>London 1.36 1.76 1.29 N/A 1.41 1.74 1.34 N/A</u></div>
<div><u>Hensall 1.60 N/A 1.30 N/A 1.60 N/A 1.30 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 1.60 1.75 1.25 N/A 1.60 1.70 1.30 1.00</u></div>
<div><u>Essex N/A N/A 1.25 N/A N/A N/A 1.30 N/A</u></div>
<div><u>Norwich 1.60 N/A 1.30 N/A 1.60 N/A 1.30 N/A</u></div>
<div><u>Port Hope N/A N/A N/A N/A N/A 1.60 1.30 N/A</u></div>
<div><u>Kent Bridge 1.60 N/A 1.30 N/A 1.60 N/A 1.30 N/A</u></div>
<div><u>Chatham N/A N/A 1.25 N/A N/A N/A 1.30 N/A</u></div>
<div><u>Brigden N/A N/A 1.25 N/A N/A N/A 1.30 N/A</u></div>
<div><u>Palmerston N/A 1.80 1.40 1.10 N/A 1.77 1.37 1.00</u></div>
<div><u>Varna 1.50 1.75 1.30 N/A 1.50 1.70 1.30 N/A</u></div>
<div><u>Mitchell 1.60 1.60 1.30 N/A 1.60 1.60 1.30 N/A</u></div>
<div><u>Thornton N/A N/A N/A 1.30 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 1.42 1.20 0.70 N/A 1.82 1.37 0.85</u></div>
<div><u>W O Feed 1.89</u></div>
<div><u><br>
</u></div>
<div><u>TERMINAL</u></div>
<div><u>Port Colbor N/A N/A N/A N/A 1.76 2.10 1.63 N/A</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Toledo FM N/A N/A 1.61 N/A N/A N/A 1.61 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 4.55US 6.12CA 4.55US 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 1.68 2.02 1.55 1.11</u></div>
<div><u>CAD $/bu 6.35 6.69 6.22 6.47</u></div>
<div><u>CAD $/tonne 233.37 245.73 228.43 237.70</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 467.28</u></div>
<div><u>DDG's FOB Srn & Aylm 205.00</u></div>
<div><u><br>
</u></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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