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<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, May 22</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.3418 up 0.0018</u></div>
<div><u>Chicago corn closed slightly higher.</u></div>
<div><u><br>
</u></div>
<div><u> JUL19 HI 3.96 1/2 DEC19 HI 4.13 3/4</u></div>
<div><u> LOW 3.86 1/4 LOW 4.04 1/2</u></div>
<div><u> CLOSE3.94 1/2 Up 1/4 CLOSE 4.12 3/4 Up 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 +JUL19+SEP19+SEP19</u></div>
<div><u>CK Low 1.10 5.05 198.61 0.90 5.03 197.92</u></div>
<div><u>CK High 1.15 5.10 200.58 0.90 5.03 197.92</u></div>
<div><u>CK Avg 1.12 -0.17 5.06 199.27 0.90 -0.38 5.03 197.92</u></div>
<div><u>Essex Cty 1.15 5.10 200.58 0.90 5.03 197.92</u></div>
<div><u>Mdsx Low 1.10 5.05 198.61 0.90 5.03 197.92</u></div>
<div><u>Mdsx High 1.10 5.05 198.61 0.95 5.08 199.89</u></div>
<div><u>Mdsx Avg 1.10 -0.19 5.05 198.61 0.93 -0.36 5.05 198.91</u></div>
<div><u>Hensall 1.13 5.07 199.60 0.98 5.10 200.88</u></div>
<div><u>Bruce 1.10 5.05 198.61 0.95 5.08 199.89</u></div>
<div><u>Putnam 1.10 5.05 198.61 0.95 5.08 199.89</u></div>
<div><u>Burford 1.10 5.05 198.61 0.90 5.03 197.92</u></div>
<div><u>Port Perry 1.05 5.00 196.64 0.90 5.03 197.92</u></div>
<div><u>Norfolk 1.15 5.10 200.58 0.90 5.03 197.92</u></div>
<div><u>Palmerston 1.10 5.05 198.61 0.95 5.08 199.89</u></div>
<div><u>Varna 1.10 5.05 198.61 0.95 5.08 199.89</u></div>
<div><u>Trenton 1.05 5.00 196.64 0.90 5.03 197.92</u></div>
<div><u>Winchester 1.10 5.05 198.61 1.20 5.33 209.73</u></div>
<div><u>North Gower 1.10 5.05 198.61 1.18 5.31 208.95</u></div>
<div><u>Huron FOB 1.55 5.50 216.33 1.00 5.13 201.86</u></div>
<div><u>Kent FOB 1.45 5.40 212.39 0.90 5.03 197.92</u></div>
<div><u>Lamb FOB 1.50 5.45 214.36 1.03 5.16 203.04</u></div>
<div><u>Mdsx FOB 1.40 1.35 1.45 1.45 5.35 210.42 0.95 5.08 199.89</u></div>
<div><u>FOB SW Que 1.82 5.77 226.96 1.37 5.50 216.43</u></div>
<div><u>Track 1.55 5.50 216.33N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A N/A 1.80 1.18 5.31 208.95</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 N/A N/A 1.50 1.60 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 1.76 1.20 5.33 209.73</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 5.48 215.64</u></div>
<div><u>W O Feed 1.73 5.68 223.57</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.99 5.94 233.65</u></div>
<div><u>Toledo El. -0.05 3.89 153.19 -0.27 3.86 151.93</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Port ColbornN/A 1.15 5.28207 3/4</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 0.90 5.02 3/4</u></div>
<div><u>HI SD CRN 0.90 5.02 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 1.3418 up 0.0018</u></div>
<div><u>Chicago soybeans closed slightly higher.</u></div>
<div><u><br>
</u></div>
<div><u> JUL19 HI 8.35 NOV19 HI 8.61 3/4</u></div>
<div><u> LOW 8.19 LOW 8.45 1/2</u></div>
<div><u> CLOSE8.28 1/2 Up 6 1/2 CLOSE 8.55 1/4 Up 6 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 +JUL1+JUL1+AUG19</u></div>
<div><u>CK Low 1.95 10.24 376.071.90 10.45 384.06</u></div>
<div><u>CK High 2.05 10.34 379.752.00 10.55 387.74</u></div>
<div><u>CK Average 1.98 -0.6410.27 377.171.94 -0.7310.49 385.59</u></div>
<div><u>Essex Cty 1.95 10.24 376.071.90 10.45 384.06</u></div>
<div><u>Mdsx Low 1.93 10.22 375.341.90 10.45 384.06</u></div>
<div><u>Mdsx High 1.95 10.24 376.071.90 10.45 384.06</u></div>
<div><u>Mdsx Average 1.94 -0.6610.23 375.701.90 -0.7610.45 384.06</u></div>
<div><u>Hensall 1.95 10.24 376.071.88 10.43 383.15</u></div>
<div><u>Bruce 1.95 10.24 376.071.90 10.45 384.06</u></div>
<div><u>Putnam 1.95 10.24 376.071.90 10.45 384.06</u></div>
<div><u>Burford 1.98 10.27 377.171.95 10.50 385.90</u></div>
<div><u>Port Perry 1.95 10.24 376.071.92 10.47 384.80</u></div>
<div><u>Norfolk 1.95 10.24 376.071.90 10.45 384.06</u></div>
<div><u>Palmerston 1.90 10.19 374.231.85 10.40 382.23</u></div>
<div><u>Varna 1.95 10.24 376.071.85 10.40 382.23</u></div>
<div><u>Trenton 2.00 10.29 377.912.00 10.55 387.74</u></div>
<div><u>Winchester N/A 1.87 10.42 382.96</u></div>
<div><u>North Gower 1.99 10.28 377.541.99 10.54 387.37</u></div>
<div><u>Huron FOB 2.05 10.34 379.751.95 10.50 385.90</u></div>
<div><u>Kent FOB 2.20 10.49 385.261.90 10.45 384.06</u></div>
<div><u>Lambton FOB 2.10 10.39 381.582.00 10.55 387.74</u></div>
<div><u>Middlesex FOB2.05 2.12 2.19 N/A 10.34 379.751.98 10.53 387.00</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Windsor 2.57 10.86 398.852.26 10.81 397.29</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton 2.50 10.79 396.282.35 10.90 400.60</u></div>
<div><u>Prescott N/A 2.25 10.80 396.92</u></div>
<div><u>Port Colborne N/A 2.26 10.81 397.29</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.60 7.68 282.23-0.74 7.81 287.13</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.3418 up 0.0018</u></div>
<div><u>Chicago wheat closed slightly to moderately lower.</u></div>
<div><u>JUL19 HI 4.81 JUL19 HI 4.81</u></div>
<div><u> LOW 4.68 1/2 LOW 4.68 1/2</u></div>
<div><u> CLOSE 4.72 3/4 Down 6 CLOSE 4.72 3/4 Down 6</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed steady to slightly higher.</u></div>
<div><u>JUL19 HI 5.47 SEP19 HI 5.56 1/4</u></div>
<div><u> LOW 5.36 3/4 LOW 5.45 3/4</u></div>
<div><u> CLOSE 5.43 3/4 Up 3/4 CLOSE 5.52 Unchanged</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 1.62 1.68 1.48 0.92</u></div>
<div><u>CAD $/bu 6.34 6.41 6.21 6.36</u></div>
<div><u>CAD $/tonne 233.08 235.55 228.15 233.58</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 1.40 N/A N/A N/A 1.40 N/A</u></div>
<div><u>London 1.37 1.77 1.31 N/A 1.43 1.76 1.36 N/A</u></div>
<div><u>Hensall 1.60 N/A 1.40 N/A 1.60 N/A 1.35 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 1.80 1.35 N/A 1.60 1.75 1.35 1.10</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 1.40 N/A 1.60 N/A 1.35 N/A</u></div>
<div><u>Port Hope N/A N/A N/A N/A N/A 1.75 1.40 N/A</u></div>
<div><u>Kent Bridge 1.60 N/A 1.40 N/A 1.60 N/A 1.35 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 1.83 1.43 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 1.80 1.40 N/A 1.60 1.75 1.35 N/A</u></div>
<div><u>Thornton N/A N/A N/A 1.21 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 1.42 1.20 0.70 N/A 1.83 1.38 0.85</u></div>
<div><u>W O Feed 1.97</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 2.11 1.64 N/A</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Toledo FM N/A N/A 1.62 N/A N/A N/A 1.62 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 4.63US 6.21CA 4.63US 6.21CA</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 1.15</u></div>
<div><u>CAD $/bu 6.41 6.75 6.28 6.67</u></div>
<div><u>CAD $/tonne 235.55 247.88 230.62 245.04</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 469.92</u></div>
<div><u>DDG's FOB Srn & Aylm 205.00</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<u></u>
<p class="MsoNormal" style=""><span style="font-size: 10pt; line-height: 115%; font-family: "Courier New"; color: rgb(51, 51, 51); background: rgb(253, 253, 253);">Blair Andrews</span><span style="font-size: 10pt; line-height: 115%; font-family: "Courier New"; color: rgb(51, 51, 51);"><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="LPlnk570404" class="OWAAutoLink" previewremoved="true" style=""><span style="font-size: 10pt; line-height: 115%; font-family: "Courier New"; color: rgb(51, 102, 153);">519-674-1500</span></a><span class="apple-converted-space" style=""><span style="font-size:10.0pt;line-height:115%;font-family:"Courier New";color:#333333;
background:#FDFDFD"> </span></span><span style="font-size: 10pt; line-height: 115%; font-family: "Courier New"; color: rgb(51, 51, 51); background: rgb(253, 253, 253);">x
63577<span class="apple-converted-space"> </span></span><span style="font-size: 10pt; line-height: 115%; font-family: "Courier New"; color: rgb(51, 51, 51);"><br>
<span style="background:#FDFDFD">Fax.<span class="apple-converted-space"> </span></span></span><a href="callto:519-674-1530" id="LPlnk479984" class="OWAAutoLink" previewremoved="true" style=""><span style="font-size: 10pt; line-height: 115%; font-family: "Courier New"; color: rgb(51, 102, 153);">519-674-1530</span></a><span class="apple-converted-space" style=""><span style="font-size:10.0pt;line-height:115%;font-family:"Courier New";color:#333333;
background:#FDFDFD"> </span></span><span style="font-size: 10pt; line-height: 115%; font-family: "Courier New"; color: rgb(51, 51, 51);"><br>
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