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<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Tue, May 21</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.34 down 0.0026</u></div>
<div><u>Chicago corn closed moderately higher.</u></div>
<div><u><br>
</u></div>
<div><u> JUL19 HI 3.99 DEC19 HI 4.13</u></div>
<div><u> LOW 3.91 1/4 LOW 4.07</u></div>
<div><u> CLOSE3.94 1/4 Up 5 1/4 CLOSE 4.10 1/2 Up 6</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 5.04 198.51 0.90 5.01 197.04</u></div>
<div><u>CK High 1.10 5.04 198.51 0.90 5.01 197.04</u></div>
<div><u>CK Avg 1.10 -0.18 5.04 198.51 0.90 -0.37 5.01 197.04</u></div>
<div><u>Essex Cty 1.10 5.04 198.51 0.90 5.01 197.04</u></div>
<div><u>Mdsx Low 1.10 5.04 198.51 0.90 5.01 197.04</u></div>
<div><u>Mdsx High 1.10 5.04 198.51 0.95 5.06 199.01</u></div>
<div><u>Mdsx Avg 1.10 -0.18 5.04 198.51 0.93 -0.35 5.03 198.02</u></div>
<div><u>Hensall 1.13 5.07 199.50 0.98 5.08 199.99</u></div>
<div><u>Bruce 1.10 5.04 198.51 0.90 5.01 197.04</u></div>
<div><u>Putnam 1.10 5.04 198.51 0.90 5.01 197.04</u></div>
<div><u>Burford 1.10 5.04 198.51 0.90 5.01 197.04</u></div>
<div><u>Port Perry 1.10 5.04 198.51 0.90 5.01 197.04</u></div>
<div><u>Norfolk 1.10 5.04 198.51 0.90 5.01 197.04</u></div>
<div><u>Palmerston 1.10 5.04 198.51 0.95 5.06 199.01</u></div>
<div><u>Varna 1.10 5.04 198.51 0.95 5.06 199.01</u></div>
<div><u>Trenton 1.05 4.99 196.55 0.90 5.01 197.04</u></div>
<div><u>Winchester 1.10 5.04 198.51 1.20 5.31 208.85</u></div>
<div><u>North Gower 1.10 5.04 198.51 1.18 5.29 208.06</u></div>
<div><u>Huron FOB 1.55 5.49 216.23 1.00 5.11 200.97</u></div>
<div><u>Kent FOB 1.40 5.34 210.32 0.90 5.01 197.04</u></div>
<div><u>Lamb FOB 1.50 5.44 214.26 1.03 5.14 202.16</u></div>
<div><u>Mdsx FOB 1.40 1.35 1.45 1.45 5.34 210.32 0.95 5.06 199.01</u></div>
<div><u>FOB SW Que 1.83 5.77 227.25 1.38 5.49 215.93</u></div>
<div><u>Track 1.55 5.49 216.23N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A N/A 1.80 1.15 5.26 206.88</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A N/A N/A</u></div>
<div><u>Aylmer-Eth N/A N/A N/A N/A N/A</u></div>
<div><u>Sarn-Eth 1.50 1.50N/A N/A 5.44 214.26N/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 5.31 208.85</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 5.46 214.75</u></div>
<div><u>W O Feed 1.73 5.67 223.32</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.99 5.93 233.55</u></div>
<div><u>Toledo El. -0.05 3.89 153.10 -0.27 3.84 151.06</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Port ColbornN/A 1.15 5.26206 7/8</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 0.90 5.00 1/2</u></div>
<div><u>HI SD CRN 0.90 5.00 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 1.34 down 0.0026</u></div>
<div><u>Chicago soybeans closed slightly lower.</u></div>
<div><u><br>
</u></div>
<div><u> JUL19 HI 8.46 1/2 NOV19 HI 8.72 1/4</u></div>
<div><u> LOW 8.19 LOW 8.45 1/2</u></div>
<div><u> CLOSE8.22 Down 9 3/4 CLOSE 8.48 1/2 Down 9 1/4</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 +JUL1+JUL1+AUG19</u></div>
<div><u>CK Low 2.00 10.22 375.521.95 10.44 383.42</u></div>
<div><u>CK High 2.05 10.27 377.362.05 10.54 387.09</u></div>
<div><u>CK Average 2.04 -0.5610.26 376.932.00 -0.6610.49 385.26</u></div>
<div><u>Essex Cty 2.00 10.22 375.521.95 10.44 383.42</u></div>
<div><u>Mdsx Low 1.98 10.20 374.791.95 10.44 383.42</u></div>
<div><u>Mdsx High 2.05 10.27 377.362.00 10.49 385.26</u></div>
<div><u>Mdsx Average 2.02 -0.5810.24 376.071.98 -0.6810.46 384.34</u></div>
<div><u>Hensall 2.03 10.25 376.441.98 10.46 384.34</u></div>
<div><u>Bruce 2.05 10.27 377.362.00 10.49 385.26</u></div>
<div><u>Putnam 2.05 10.27 377.362.00 10.49 385.26</u></div>
<div><u>Burford 2.03 10.25 376.622.00 10.49 385.26</u></div>
<div><u>Port Perry 2.00 10.22 375.521.97 10.46 384.16</u></div>
<div><u>Norfolk 2.00 10.22 375.521.95 10.44 383.42</u></div>
<div><u>Palmerston 1.95 10.17 373.681.95 10.44 383.42</u></div>
<div><u>Varna 2.00 10.22 375.521.95 10.44 383.42</u></div>
<div><u>Trenton 2.00 10.22 375.522.00 10.49 385.26</u></div>
<div><u>Winchester N/A 1.94 10.43 383.05</u></div>
<div><u>North Gower 1.99 10.21 375.151.99 10.48 384.89</u></div>
<div><u>Huron FOB 2.10 10.32 379.202.05 10.54 387.09</u></div>
<div><u>Kent FOB 2.20 10.42 382.871.95 10.44 383.42</u></div>
<div><u>Lambton FOB 2.20 10.42 382.872.15 10.64 390.77</u></div>
<div><u>Middlesex FOB2.10 2.17 2.24 N/A 10.32 379.201.94 10.43 383.05</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Windsor 2.53 10.75 394.992.22 10.71 393.34</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton 2.50 10.72 393.892.40 10.89 399.96</u></div>
<div><u>Prescott N/A 2.30 10.79 396.28</u></div>
<div><u>Port Colborne N/A 2.31 10.80 396.65</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.60 7.62 279.88-0.74 7.75 284.69</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.34 down 0.0026</u></div>
<div><u>Chicago wheat closed mixed.</u></div>
<div><u>JUL19 HI 4.92 3/4 JUL19 HI 4.92 3/4</u></div>
<div><u> LOW 4.74 LOW 4.74</u></div>
<div><u> CLOSE 4.78 3/4 Up 1/2 CLOSE 4.78 3/4 Up 1/2</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly lower.</u></div>
<div><u>JUL19 HI 5.54 3/4 SEP19 HI 5.63 1/4</u></div>
<div><u> LOW 5.40 1/4 LOW 5.49</u></div>
<div><u> CLOSE 5.43 Down 1/2 CLOSE 5.52 Down 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 1.63 1.69 1.49 0.91</u></div>
<div><u>CAD $/bu 6.42 6.48 6.28 6.34</u></div>
<div><u>CAD $/tonne 235.73 238.19 230.80 232.89</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 1.44 1.84 1.37 N/A 1.50 1.83 1.43 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 1.30 N/A N/A N/A 1.35 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 1.35 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 1.30 N/A N/A N/A 1.35 N/A</u></div>
<div><u>Brigden N/A N/A 1.30 N/A N/A N/A 1.35 N/A</u></div>
<div><u>Palmerston N/A 1.85 1.45 1.10 N/A 1.82 1.42 1.00</u></div>
<div><u>Varna 1.60 1.80 1.40 N/A 1.55 1.75 1.35 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 1.35 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 1.90</u></div>
<div><u><br>
</u></div>
<div><u>TERMINAL</u></div>
<div><u>Port Colbor N/A N/A N/A N/A 1.84 2.18 1.71 N/A</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Toledo FM N/A N/A 1.63 N/A N/A N/A 1.63 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 4.67US 6.25CA 4.67US 6.25CA</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 1.69 2.03 1.56 1.14</u></div>
<div><u>CAD $/bu 6.48 6.82 6.35 6.66</u></div>
<div><u>CAD $/tonne 238.19 250.50 233.26 244.71</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 460.00</u></div>
<div><u>DDG's FOB Srn & Aylm 205.00</u></div>
<div><u><br>
</u></div>
<u><br>
</u>
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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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