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<div><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, August 14</u></div>
<div><u>(All Bases in CAD)</u></div>
<div><u>Bank of Canada Noon exchange rate was 1.3313 up 0.0103</u></div>
<div><u>Chicago corn closed moderately lower.</u></div>
<div><u><br>
</u></div>
<div><u> SEP19 HI 3.70 1/2 DEC19 HI 3.81</u></div>
<div><u> LOW 3.58 1/2 LOW 3.70</u></div>
<div><u> CLOSE3.59 Down 7 CLOSE 3.70 1/4 Down 6 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 Adj $/bu $/mt Cntrct Adj $/bu $/mt</u></div>
<div><u>ELEVATORS +DEC19+DEC19+DEC19</u></div>
<div><u>CK Low 1.85 5.44 214.16 1.25 4.95 194.97</u></div>
<div><u>CK High 2.05 5.64 222.04 1.30 5.00 196.94</u></div>
<div><u>CK Avg 1.93 0.74 5.52 217.12 1.26 0.05 4.96 195.30</u></div>
<div><u>Essex Cty 2.05 5.64 222.04 1.30 5.00 196.94</u></div>
<div><u>Mdsx Low 1.90 5.49 216.13 1.25 4.95 194.97</u></div>
<div><u>Mdsx High 1.90 5.49 216.13 1.25 4.95 194.97</u></div>
<div><u>Mdsx Avg 1.90 0.71 5.49 216.13 1.25 0.04 4.95 194.97</u></div>
<div><u>Hensall 1.93 5.52 217.12 1.30 5.00 196.94</u></div>
<div><u>Bruce 1.90 5.49 216.13 1.30 5.00 196.94</u></div>
<div><u>Putnam 1.90 5.49 216.13 1.25 4.95 194.97</u></div>
<div><u>Burford 1.90 5.49 216.13 1.25 4.95 194.97</u></div>
<div><u>Port Perry 1.90 5.49 216.13 1.25 4.95 194.97</u></div>
<div><u>Norfolk 2.05 5.64 222.04 1.30 5.00 196.94</u></div>
<div><u>Palmerston 1.73 5.32 209.44 1.23 4.93 194.18</u></div>
<div><u>Varna 1.90 5.49 216.13 1.30 5.00 196.94</u></div>
<div><u>Trenton 1.90 5.49 216.13 1.30 5.00 196.94</u></div>
<div><u>Winchester N/A 1.40 5.10 200.88</u></div>
<div><u>North Gower 1.50 5.09 200.38 1.40 5.10 200.88</u></div>
<div><u>Huron FOB 2.10 5.69 224.01 1.35 5.05 198.91</u></div>
<div><u>Kent FOB 2.20 5.79 227.94 1.35 5.05 198.91</u></div>
<div><u>Lamb FOB 2.00 5.59 220.07 1.35 5.05 198.91</u></div>
<div><u>Mdsx FOB 2.10N/A N/A N/A 5.69 224.01 1.45 5.15 202.84</u></div>
<div><u>FOB SW Que N/A N/A</u></div>
<div><u>Track 2.35 5.94 233.85N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A 2.47 2.47 1.55 1.55 5.25 206.78</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A N/A N/A</u></div>
<div><u>Aylmer-Eth N/A 2.35 2.35N/A N/A</u></div>
<div><u>Sarn-Eth N/A N/A N/A N/A 1.40 5.10 200.88</u></div>
<div><u>London-Ing N/A N/A 1.95N/A N/A</u></div>
<div><u>Pt.Colb-Ing N/A N/A 1.80 1.75 1.75* 5.45 214.66</u></div>
<div><u>Cardnl-Ing N/A N/A 1.55 1.50 1.50 5.20 204.81</u></div>
<div><u>W O Feed 2.53 2.09 6.12 241.09</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 2.51 2.07 6.10 240.15</u></div>
<div><u>Toledo El. 0.51 4.10 161.25 0.20 3.90 153.60</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Pt. Colb N/A 1.65 5.35 210.72</u></div>
<div><u>Prescott 2.05 5.64 222.04 1.50 5.20204 4/5</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 1.27 1/2 4.97 3/4</u></div>
<div><u>HI SD CRN 1.30 5.00 1/4</u></div>
<div><u>*Wet Bid</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.3313 up 0.0103</u></div>
<div><u>Chicago soybeans closed slightly to moderately lower.</u></div>
<div><u><br>
</u></div>
<div><u> NOV19 HI 8.93 1/2 NOV19 HI 8.93 1/2</u></div>
<div><u> LOW 8.77 1/4 LOW 8.77 1/4</u></div>
<div><u> CLOSE8.78 Down 11 CLOSE 8.78 Down 11</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 +NOV1+NOV1+NOV19</u></div>
<div><u>CK Low 2.12 10.90 400.512.05 10.83 397.93</u></div>
<div><u>CK High 2.20 10.98 403.452.10 10.88 399.77</u></div>
<div><u>CK Average 2.18 -0.5510.96 402.652.08 -0.5910.86 399.16</u></div>
<div><u>Essex Cty 2.20 10.98 403.452.10 10.88 399.77</u></div>
<div><u>Mdsx Low 2.10 10.88 399.772.03 10.81 397.20</u></div>
<div><u>Mdsx High 2.20 10.98 403.452.10 10.88 399.77</u></div>
<div><u>Mdsx Average 2.15 -0.5710.93 401.612.07 -0.6110.85 398.49</u></div>
<div><u>Hensall 2.23 11.01 404.362.10 10.88 399.77</u></div>
<div><u>Bruce 2.20 10.98 403.452.05 10.83 397.93</u></div>
<div><u>Putnam 2.20 10.98 403.452.10 10.88 399.77</u></div>
<div><u>Burford 2.15 10.93 401.612.08 10.86 399.04</u></div>
<div><u>Port Perry 2.12 10.90 400.512.05 10.83 397.93</u></div>
<div><u>Norfolk 2.20 10.98 403.452.10 10.88 399.77</u></div>
<div><u>Palmerston 2.15 10.93 401.612.10 10.88 399.77</u></div>
<div><u>Varna 2.25 11.03 405.282.10 10.88 399.77</u></div>
<div><u>Trenton 2.10 10.88 399.772.05 10.83 397.93</u></div>
<div><u>Winchester N/A 2.20 10.98 403.45</u></div>
<div><u>North Gower 1.88 10.66 391.692.05 10.83 397.93</u></div>
<div><u>Huron FOB 2.35 11.13 408.962.20 10.98 403.45</u></div>
<div><u>Kent FOB 2.30 11.08 407.122.10 10.88 399.77</u></div>
<div><u>Lambton FOB 2.25 11.03 405.282.25 11.03 405.28</u></div>
<div><u>Middlesex FOB2.32 2.32 N/A N/A 11.10 407.862.25 11.03 405.28</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Windsor 2.65 11.43 419.982.45 11.23 412.63</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton 2.75 11.53 423.652.55 11.33 416.31</u></div>
<div><u>Prescott N/A 2.40 11.18 410.79</u></div>
<div><u>Port Colborne N/A N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.27 8.51 312.83-0.53 8.25 303.11</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.3313 up 0.0103</u></div>
<div><u>Chicago wheat closed mixed.</u></div>
<div><u>SEP19 HI 4.80 JUL20 HI 5.01</u></div>
<div><u> LOW 4.71 1/4 LOW 4.93 1/4</u></div>
<div><u> CLOSE 4.73 3/4 Up 1 3/4 CLOSE 4.93 3/4 Down 3/4</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly higher.</u></div>
<div><u>SEP19 HI 5.08 SEP20 HI 5.64</u></div>
<div><u> LOW 5.03 LOW 5.62</u></div>
<div><u> CLOSE 5.05 1/2 Up 2 1/4 CLOSE 5.62 3/4 Up 1/4</u></div>
<div><u><br>
</u></div>
<div><u>GFO Cash 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 2.04 2.30 1.97 1.28</u></div>
<div><u>CAD $/bu 6.77 7.04 6.71 6.33</u></div>
<div><u>CAD $/tonne 248.86 258.65 246.42 232.60</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Direct MarkHarvest 2019 Harvest 2020</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 1.60 N/A N/A N/A 1.15 N/A</u></div>
<div><u>London 1.69 1.96 1.63 N/A 1.30 1.43 1.10 N/A</u></div>
<div><u>Hensall 1.70 N/A 1.60 N/A 1.30 N/A 1.10 N/A</u></div>
<div><u>Trenton N/A N/A 1.70 N/A N/A N/A 1.20 N/A</u></div>
<div><u>Bruce 1.70 2.00 1.60 1.30 1.30 1.50 1.10 N/A</u></div>
<div><u>Essex N/A N/A 1.55 N/A N/A N/A 1.10 N/A</u></div>
<div><u>Norwich 1.70 N/A 1.60 N/A 1.30 N/A 1.10 N/A</u></div>
<div><u>Port Hope N/A 1.90 1.70 N/A N/A 1.50 1.20 N/A</u></div>
<div><u>Kent Bridge 1.70 N/A 1.60 N/A 1.30 N/A 1.10 N/A</u></div>
<div><u>Chatham N/A N/A 1.60 N/A N/A N/A 1.10 N/A</u></div>
<div><u>Brigden N/A N/A 1.60 N/A N/A N/A 1.10 N/A</u></div>
<div><u>Palmerston N/A 2.18 1.64 1.20 N/A 1.63 1.09 0.90</u></div>
<div><u>Varna 1.70 2.00 1.60 N/A 1.30 1.50 1.10 N/A</u></div>
<div><u>Mitchell 1.70 1.90 1.60 N/A 1.30 1.50 1.10 N/A</u></div>
<div><u>Thornton N/A N/A N/A 1.58 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 2.15 1.90 1.15 N/A 1.73 1.48 0.90</u></div>
<div><u>W O Feed 2.30</u></div>
<div><u><br>
</u></div>
<div><u>TERMINAL</u></div>
<div><u>Port Colbor 2.03 2.30 1.96 N/A N/A N/A N/A N/A</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Toledo FM N/A N/A 1.84 N/A N/A N/A N/A N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 4.94US 6.57CA 4.89US 6.49CA</u></div>
<div><u><br>
</u></div>
<div><u>GFO Contract Wheat Prices - DEL Terminal</u></div>
<div><u>Harvest 20 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)</u></div>
<div><u>Basis 1.55 1.81 1.48 1.04</u></div>
<div><u>CAD $/bu 6.49 6.75 6.42 6.67</u></div>
<div><u>CAD $/tonne 238.30 248.05 235.86 245.13</u></div>
<div><u><br>
</u></div>
<div><u>(C)-Basis over the Chicago Board of Trade futures</u></div>
<div><u>(M)-Basis over the Minneapolis Grain Exchange</u></div>
<div><u><br>
</u></div>
<div><u>FEED GRAINS</u></div>
<div><u>FOB Hm Soymeal 455.92</u></div>
<div><u>DDG's FOB Srn & Aylm 190.00 - 195.00</u></div>
<div><br>
</div>
--
<p></p>
<p style="margin-top:0;margin-bottom:0">Ontario Grain Market Commentary for August 14, 2019</p>
<p style="margin-top:0;margin-bottom:0">By Marty Hibbs, Grain Farmers of Ontario</p>
<p style="margin-top:0;margin-bottom:0"><br>
</p>
<p style="margin-top:0;margin-bottom:0"></p>
<div><br>
</div>
<div>Commodity<span style="white-space:pre"> </span>Period<span style="white-space:pre">
</span>Price<span style="white-space:pre"> </span>Weekly Movement</div>
<div>Corn CBOT<span style="white-space:pre"> </span>Sep<span style="white-space:pre">
</span>3.59<span style="white-space:pre"> </span>$B"-(B 50 cents</div>
<div>Soybeans CBOT<span style="white-space:pre"> </span>Sep<span style="white-space:pre">
</span>8.65<span style="white-space:pre"> </span>$B",(B 11 cents</div>
<div>Wheat CBOT<span style="white-space:pre"> </span>Sep<span style="white-space:pre">
</span>4.74<span style="white-space:pre"> </span>$B",(B 13 cents</div>
<div>Wheat Minn.<span style="white-space:pre"> </span>Sep<span style="white-space:pre">
</span>5.06<span style="white-space:pre"> </span>$B"-(B 15 cents</div>
<div>Wheat Kansas<span style="white-space:pre"> </span>Sep<span style="white-space:pre">
</span>3.85<span style="white-space:pre"> </span>$B"-(B 25 cents</div>
<div>Oats CBOT<span style="white-space:pre"> </span>Sep<span style="white-space:pre">
</span>2.77<span style="white-space:pre"> </span>$B",(B 08 cents</div>
<div><span style="white-space:pre"></span></div>
<div>Canadian $<span style="white-space:pre"> </span>Sep<span style="white-space:pre">
</span>0.7511<span style="white-space:pre"> </span>$B"-(B 0.00 points</div>
<div><br>
</div>
<div><br>
</div>
<div>Corn:</div>
<div>The United States Department of Agriculture (USDA) report on August 12 took no prisoners. Corn hit its 25 cent limit down and locked during the daytime session only to find follow-through selling in the evening session. Our $3.70 support was destroyed,
and we received a red sell signal on the weekly chart which is significant. Where do we go from here you ask? My guess is we will have a tough time getting past the $3.85 gap left in the wake of this washout. It seems almost certain that the contract lows
of $3.50 on the September futures will be revisited in the near future. </div>
<div>The primary trend for corn is now neutral. </div>
<div><br>
</div>
<div>Soybeans:</div>
<div>Soybeans delivered the biggest surprise in the monthly report as prices held relatively solid through the onslaught of falling corn and wheat prices. On the charts, soybeans look the least affected. I would expect to see a continuation of the same range-bound
trade in the coming weeks, between $8.40 and $9.40 levels on the September futures. Our overhead resistance is substantial at the $9.25 - $9.50 level on the September futures. </div>
<div>All indicators are negative and the primary trend is still down.</div>
<div><br>
</div>
<div>Wheat:</div>
<div>Surprisingly, wheat fared much better than corn as we are still holding at our initial $4.70 support level on the September futures even though it was temporarily lower to $4.65. This is good enough to suggest we may see sideways to slightly higher prices
in the coming weeks. </div>
<div><br>
</div>
<div>If political issues continue to outweigh the weather issues, we may eventually see a move towards our solid support level of $4 - $4.20 before September goes off the board. </div>
<div>I still feel we are in the bottoming action of a multi-year bear market based on the volatility we are experiencing and I feel the markets will turn bullish for the next several years once this shakeout phase is complete this later this year. </div>
<div><br>
</div>
<div>Overhead resistance on September remains at the recent highs of $5.50 - $5.60, while major support is pegged at $4 - $4.20 on the lead month futures. </div>
<div>Indicators are positive with a primary trend that is neutral to bullish. </div>
<div><br>
</div>
<div><span style="font-size: 10pt;">Harvest 2019 prices as of the close, August 14, 2019 are as follows:</span><br>
</div>
<div>SWW @ $249.00/MT ($6.78/bu), HRW @ $258.79/MT ($7.04/bu), </div>
<div> HRS @ $232.86/MT ($6.34/bu), SRW @ $246.56/MT ($6.71/bu). </div>
<div><br>
</div>
<div>---</div>
<div><span id="ms-rterangepaste-start"></span>
<p class="MsoNoSpacing"><span style="font-size:10.0pt;font-family:"Courier New"">Blair Andrews<o:p></o:p></span></p>
<p class="MsoNoSpacing"><span style="font-size:10.0pt;font-family:"Courier New"">Editor, AgriLink and Farm Market News
<o:p></o:p></span></p>
<p class="MsoNoSpacing"><span style="font-size:10.0pt;font-family:"Courier New"">University of Guelph, Ridgetown Campus<o:p></o:p></span></p>
<p class="MsoNoSpacing"><span style="font-size:10.0pt;font-family:"Courier New""><o:p> </o:p></span></p>
<p class="MsoNoSpacing"><span style="font-size:10.0pt;font-family:"Courier New"">Email:fmnc@uoguelph.ca<span style="mso-spacerun:yes">
</span><o:p></o:p></span></p>
<p class="MsoNoSpacing"><span style="font-size:10.0pt;font-family:"Courier New"">Tel. 519-674-1500 x 63577
<o:p></o:p></span></p>
<p class="MsoNoSpacing"><span style="font-size:10.0pt;font-family:"Courier New"">Fax. 519-674-1530<br>
<br>
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unsubscribe from this report.</span><br>
<span style="background:#FDFDFD">This Farm Market News product is sponsored by:</span><br>
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