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<span><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, October 3<br>
</u></span>
<div><u>(All Bases in CAD)<br>
</u></div>
<div><u>Bank of Canada Noon exchange rate was 1.3313 up 0.0008<br>
</u></div>
<div><u>Chicago corn closed slightly higher.<br>
</u></div>
<div><u><br>
</u></div>
<div><u> DEC19 HI 3.90 3/4 DEC20 HI 4.05 3/4<br>
</u></div>
<div><u> LOW 3.85 1/2 LOW 4.04<br>
</u></div>
<div><u> CLOSE3.88 3/4 Up 1 CLOSE 4.05 1/2 Up 3/4<br>
</u></div>
<div><u><br>
</u></div>
<div><u> OLD CROP BASIS NEW CROP BASIS<br>
</u></div>
<div><u>Location Spot 1mt 2mt 3mt U.S. $/bu $/mt Cntrct U.S. $/bu $/mt<br>
</u></div>
<div><u>ELEVATORS +DEC19+MAR20+MAR20<br>
</u></div>
<div><u>CK Low 1.20 5.09 200.29 0.85 4.91 193.10<br>
</u></div>
<div><u>CK High 1.20 5.09 200.29 0.90 4.96 195.07<br>
</u></div>
<div><u>CK Avg 1.20 -0.07 5.09 200.29 0.87 -0.36 4.92 193.76<br>
</u></div>
<div><u>Essex Cty 1.20 5.09 200.29 0.85 4.91 193.10<br>
</u></div>
<div><u>Mdsx Low 1.20 5.09 200.29 0.85 4.91 193.10<br>
</u></div>
<div><u>Mdsx High 1.25 5.14 202.25 0.85 4.91 193.10<br>
</u></div>
<div><u>Mdsx Avg 1.23 -0.05 5.11 201.27 0.85 -0.37 4.91 193.10<br>
</u></div>
<div><u>Hensall 1.28 5.16 203.24 0.88 4.93 194.09<br>
</u></div>
<div><u>Bruce 1.20 5.09 200.29 0.85 4.91 193.10<br>
</u></div>
<div><u>Putnam 1.25 5.14 202.25 0.85 4.91 193.10<br>
</u></div>
<div><u>Burford 1.20 5.09 200.29 0.85 4.91 193.10<br>
</u></div>
<div><u>Port Perry 1.30 5.19 204.22 0.85 4.91 193.10<br>
</u></div>
<div><u>Norfolk 1.20 5.09 200.29 0.85 4.91 193.10<br>
</u></div>
<div><u>Palmerston 1.22 5.11 201.07 0.88 4.94 194.28<br>
</u></div>
<div><u>Varna 1.25 5.14 202.25 0.85 4.91 193.10<br>
</u></div>
<div><u>Trenton 1.30 5.19 204.22 0.85 4.91 193.10<br>
</u></div>
<div><u>Winchester 1.40 5.29 208.16 1.10 5.16 202.94<br>
</u></div>
<div><u>North Gower 1.40 5.29 208.16 1.10 5.16 202.94<br>
</u></div>
<div><u>Huron FOB 1.40 5.29 208.16 0.90 4.96 195.07<br>
</u></div>
<div><u>Kent FOB 1.25 5.14 202.25 0.90 4.96 195.07<br>
</u></div>
<div><u>Lamb FOB 1.60 5.49 216.03 1.00 5.06 199.01<br>
</u></div>
<div><u>Mdsx FOB 1.25 1.25N/A N/A 5.14 202.25N/A<br>
</u></div>
<div><u>FOB SW Que 2.23 6.12 240.84N/A<br>
</u></div>
<div><u>Track 1.93 5.81 228.83N/A<br>
</u></div>
<div><u>PROCESSORS<br>
</u></div>
<div><u>Chat-Eth 1.98N/A 1.66N/A 5.87 230.99 1.27 5.33 209.64<br>
</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A N/A N/A<br>
</u></div>
<div><u>Aylmer-Eth 1.70N/A 1.50 1.55 5.59 219.97 1.20 5.26 206.88<br>
</u></div>
<div><u>Sarn-Eth 1.40 1.40N/A N/A 5.29 208.16N/A<br>
</u></div>
<div><u>London-Ing N/A N/A 1.70 1.70 1.25 5.31 208.85<br>
</u></div>
<div><u>Pt.Colb-Ing N/A N/A N/A N/A N/A*<br>
</u></div>
<div><u>Cardnl-Ing 1.95N/A 1.70N/A 5.84 229.81 1.30 5.36 210.82<br>
</u></div>
<div><u>W O Feed 2.61 6.49 255.64<br>
</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 2.48 6.37 250.68<br>
</u></div>
<div><u>Toledo El. 0.33 4.22 166.15 -0.27 3.79 149.16<br>
</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER<br>
</u></div>
<div><u>Pt. Colb 1.50 5.39 212.10N/A<br>
</u></div>
<div><u>Prescott 1.55 5.44 214.06N/A<br>
</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 1.20 5.08 3/4<br>
</u></div>
<div><u>HI SD CRN 1.20 5.08 3/4<br>
</u></div>
<div><u>*Wet Bid<br>
</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.3313 up 0.0008<br>
</u></div>
<div><u>Chicago soybeans closed narrowly mixed.<br>
</u></div>
<div><u><br>
</u></div>
<div><u> NOV19 HI 9.18 1/2 NOV20 HI 9.66<br>
</u></div>
<div><u> LOW 9.08 LOW 9.59 3/4<br>
</u></div>
<div><u> CLOSE9.11 3/4 Down 2 CLOSE 9.61 Down 1 3/4<br>
</u></div>
<div><u><br>
</u></div>
<div><u> OLD CROP NEW CROP<br>
</u></div>
<div><u>Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt<br>
</u></div>
<div><u>ELEVATORS +NOV1+JAN2+JAN20<br>
</u></div>
<div><u>CK Low 2.25 11.37 417.682.00 11.61 426.59<br>
</u></div>
<div><u>CK High 2.30 11.42 419.522.15 11.76 432.11<br>
</u></div>
<div><u>CK Average 2.29 -0.5511.41 419.222.13 -0.7911.74 431.19<br>
</u></div>
<div><u>Essex Cty 2.30 11.42 419.522.15 11.76 432.11<br>
</u></div>
<div><u>Mdsx Low 2.23 11.35 416.952.13 11.74 431.37<br>
</u></div>
<div><u>Mdsx High 2.30 11.42 419.522.15 11.76 432.11<br>
</u></div>
<div><u>Mdsx Average 2.27 -0.5711.38 418.242.14 -0.7811.75 431.74<br>
</u></div>
<div><u>Hensall 2.28 11.39 418.602.10 11.71 430.27<br>
</u></div>
<div><u>Bruce 2.20 11.32 415.852.00 11.61 426.59<br>
</u></div>
<div><u>Putnam 2.30 11.42 419.522.15 11.76 432.11<br>
</u></div>
<div><u>Burford 2.30 11.42 419.522.20 11.81 433.94<br>
</u></div>
<div><u>Port Perry 2.22 11.34 416.582.12 11.73 431.00<br>
</u></div>
<div><u>Norfolk 2.30 11.42 419.522.15 11.76 432.11<br>
</u></div>
<div><u>Palmerston 2.30 11.42 419.522.06 11.67 428.80<br>
</u></div>
<div><u>Varna 2.25 11.37 417.682.05 11.66 428.43<br>
</u></div>
<div><u>Trenton 2.25 11.37 417.682.10 11.71 430.27<br>
</u></div>
<div><u>Winchester 2.25 11.37 417.682.20 11.81 433.94<br>
</u></div>
<div><u>North Gower 2.26 11.38 418.052.22 11.83 434.68<br>
</u></div>
<div><u>Huron FOB 2.35 11.47 421.362.15 11.76 432.11<br>
</u></div>
<div><u>Kent FOB 2.30 11.42 419.522.15 11.76 432.11<br>
</u></div>
<div><u>Lambton FOB 2.35 11.47 421.362.25 11.86 435.78<br>
</u></div>
<div><u>Middlesex FOB2.37 2.37 N/A N/A 11.49 422.092.25 11.86 435.78<br>
</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS<br>
</u></div>
<div><u>Windsor 2.56 11.68 429.072.59 12.20 448.27<br>
</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER<br>
</u></div>
<div><u>Hamilton 2.75 11.87 436.062.50 12.11 444.97<br>
</u></div>
<div><u>Prescott 2.50 11.62 426.87 N/A<br>
</u></div>
<div><u>Port Colborne2.78 11.90 437.16 N/A<br>
</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.36 8.76 321.80-0.47 9.14 335.99<br>
</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.3313 up 0.0008<br>
</u></div>
<div><u>Chicago wheat closed narrowly mixed.<br>
</u></div>
<div><u>DEC19 HI 4.93 JUL20 HI 5.09 1/4<br>
</u></div>
<div><u> LOW 4.85 3/4 LOW 5.03 1/4<br>
</u></div>
<div><u> CLOSE 4.88 3/4 Down 1/4 CLOSE 5.06 1/4 Up 1/4<br>
</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly lower to steady.<br>
</u></div>
<div><u>DEC19 HI 5.30 1/2 SEP20 HI 5.69 1/2<br>
</u></div>
<div><u> LOW 5.24 1/4 LOW 5.65 1/2<br>
</u></div>
<div><u> CLOSE 5.29 1/2 Unchanged CLOSE 5.68 1/2 Down 3/4<br>
</u></div>
<div><u><br>
</u></div>
<div><u>GFO Cash Wheat Prices - DEL Terminal<br>
</u></div>
<div><u>Harvest 19 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)<br>
</u></div>
<div><u>Basis 2.09 2.28 1.95 1.35<br>
</u></div>
<div><u>CAD $/bu 6.97 7.17 6.84 6.65<br>
</u></div>
<div><u>CAD $/tonne 256.20 263.54 251.31 244.34<br>
</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Direct MarkHarvest 2019 Harvest 2020<br>
</u></div>
<div><u> DELIVERED BASIS DELIVERED BASIS<br>
</u></div>
<div><u>Location SWW(C) HRW(C) SRW(C) HRS(M) SWW(C) HRW(C) SRW(C) HRS(M)<br>
</u></div>
<div><u>ELEVATORS<br>
</u></div>
<div><u>Brgssvll N/A N/A 1.60 N/A N/A N/A 1.15 N/A<br>
</u></div>
<div><u>London 1.75 2.01 1.61 N/A 1.34 1.54 1.20 N/A<br>
</u></div>
<div><u>Hensall 1.75 N/A 1.65 N/A 1.40 N/A 1.20 N/A<br>
</u></div>
<div><u>Trenton N/A N/A 1.65 N/A N/A N/A 1.30 N/A<br>
</u></div>
<div><u>Bruce 1.75 2.05 1.65 1.50 1.40 1.60 1.20 1.05<br>
</u></div>
<div><u>Essex N/A N/A 1.60 N/A N/A N/A 1.20 N/A<br>
</u></div>
<div><u>Norwich 1.75 N/A 1.65 N/A 1.40 N/A 1.20 N/A<br>
</u></div>
<div><u>Port Hope N/A N/A 1.70 N/A N/A N/A 1.30 N/A<br>
</u></div>
<div><u>Kent Bridge 1.75 N/A 1.65 N/A 1.40 N/A 1.20 N/A<br>
</u></div>
<div><u>Chatham N/A N/A 1.60 N/A N/A N/A 1.20 N/A<br>
</u></div>
<div><u>Brigden N/A N/A 1.60 N/A N/A N/A 1.20 N/A<br>
</u></div>
<div><u>Palmerston N/A N/A 1.63 1.35 N/A N/A 1.30 1.01<br>
</u></div>
<div><u>Varna 1.75 2.05 1.65 N/A 1.40 1.60 1.20 N/A<br>
</u></div>
<div><u>Mitchell 1.75 1.95 1.65 N/A 1.40 1.60 1.20 N/A<br>
</u></div>
<div><u>Thornton N/A N/A N/A 1.28 N/A N/A N/A N/A<br>
</u></div>
<div><u>North Gower N/A 2.05 1.75 1.20 N/A 1.83 1.53 0.95<br>
</u></div>
<div><u>W O Feed 2.24<br>
</u></div>
<div><u><br>
</u></div>
<div><u>TERMINAL<br>
</u></div>
<div><u>Port Colbor 2.09 2.36 2.02 N/A N/A N/A N/A N/A<br>
</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS<br>
</u></div>
<div><u>Toledo FM N/A N/A 2.22 N/A N/A N/A 1.67 N/A<br>
</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 5.07US 6.75CA 5.06US 6.74CA<br>
</u></div>
<div><u><br>
</u></div>
<div><u>GFO Contract Wheat Prices - DEL Terminal<br>
</u></div>
<div><u>Harvest 20 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)<br>
</u></div>
<div><u>Basis 1.61 1.87 1.54 1.08<br>
</u></div>
<div><u>CAD $/bu 6.67 6.94 6.60 6.77<br>
</u></div>
<div><u>CAD $/tonne 245.11 254.89 242.67 248.66<br>
</u></div>
<div><u><br>
</u></div>
<div><u>(C)-Basis over the Chicago Board of Trade futures<br>
</u></div>
<div><u>(M)-Basis over the Minneapolis Grain Exchange<br>
</u></div>
<div><u><br>
</u></div>
<div><u>FEED GRAINS<br>
</u></div>
<div><u>FOB Hm Soymeal 519.09<br>
</u></div>
<div><u>DDG's FOB Srn & Aylm 210.00 - 220.00<br>
</u></div>
<u><span></span><br>
</u></div>
<div style="font-family: "Courier New", monospace; font-size: 10pt; color: rgb(0, 0, 0);">
----</div>
<div style="font-family: "Courier New", monospace; font-size: 10pt; color: rgb(0, 0, 0);">
Ontario Grain Market Commentary for October 2, 2019</div>
<div style="font-family: "Courier New", monospace; font-size: 10pt; color: rgb(0, 0, 0);">
By Todd Austin, Grain Farmers of Ontario</div>
<div style="font-family: "Courier New", monospace; font-size: 10pt; color: rgb(0, 0, 0);">
<span><br>
</span>
<div><br>
</div>
<div>Wednesday, October 2, 2019<br>
</div>
<div>COMMODITY PERIOD PRICE WEEKLY MOVEMENT<br>
</div>
<div>Corn CBOT Dec 3. 87取 ∟ 13卦 cents<br>
</div>
<div>Soybeans CBOT Nov 9.13取 ∟ 24卦 cents<br>
</div>
<div>Wheat CBOT Dec 4. 89 ∟ 11取 cents<br>
</div>
<div>Wheat Minn. Dec 5.29卦 ⊿ 24取 cents<br>
</div>
<div>Wheat Kansas Dec 4.05取 ∟ 1取 cents<br>
</div>
<div>Oats CBOT Dec 2.82取 ∟ 10卦 cents <br>
</div>
<div> <br>
</div>
<div>Canadian $ Dec 0.7516 ⊿ 34 points<br>
</div>
<div><br>
</div>
<div><br>
</div>
<div>CORN: <br>
</div>
<div>On September 30, the USDA reported quarterly stocks of corn at 2.114 billion bushels. This was well below trade estimates. This number will now be the carry in value for the 2019-20 marketing year. This could mean a tighter corn crop for 2019 as we are
also expecting a smaller yield than last year. The next WASDE (World Agricultural Supply and Demand Estimates) report will be released on October 10.
<br>
</div>
<div>US Corn harvest, as of September 30, was 11% complete, up 4 per cent from last week, but still below the five-year average of 19%. The corn crop considered mature was 43%, up from last week＊s 29%, and well below the five-year average of 73 per cent.
<br>
</div>
<div>INTL FCStone released their yield estimates on October 1. They indicate corn yield to be 169.3 bushels per acre. This estimate is up almost a bushel from their previous estimate.<br>
</div>
<div><br>
</div>
<div>SOYBEANS: <br>
</div>
<div>The quarterly stocks report indicated that soybean stocks were 913 million bushels. This is well above levels from last year at this time but was well below trade estimates. Like the corn story, the 913 million bushels will now be the carry in number for
the 2019-20 marketing year. With an already smaller production than last year, the carryout for the 2019 crop year could get tighter.<br>
</div>
<div>U.S. soybean harvest came in at 7% complete, as of September 30, versus a five-year average of20% complete.<br>
</div>
<div>INTL FCStone released their soybean yield estimates this week, indicating a yield of 48.1 bushels per acre. This estimate is down from their previous estimate of 48.3 bushels per acre.<br>
</div>
<div><br>
</div>
<div>WHEAT:<br>
</div>
<div>All wheat stocks in the U.S. were 2.38 billion bushels, as of September 1 according to the USDA. This is down slightly from last year. Interestingly, both soft red wheat and hard red wheat stocks were less than the average trade estimates, while spring
wheat and soft white were above average trade estimates.<br>
</div>
<div>Egypt＊s GASC continues to issue tenders for wheat, with shipments for November. During the 2018-19-timeframe, Egypt issued 26 tenders and imported almost 6.5 million tonnes of milling wheat. Over that last number of years, Egypt has predominately purchased
from Black Sea sources.<br>
</div>
<div>Earlier this week, warm and drier conditions allowed for some early beans to be harvested, which allowed for winter wheat to get planted.<br>
</div>
<div><br>
</div>
<div>2019 cash prices for October 2, 2019, at the market close, are as follows:<br>
</div>
<div><br>
</div>
<div>SWW at $256.17/mt ($6.97/bu), HRW at $263.50/mt ($7.17/bu), <br>
</div>
<div>HRS at $244.19/mt ($6.65/bu), and SRW at $251.28/mt ($6.84/bu).<br>
</div>
<div><br>
</div>
<div>We currently offer 2020 and 2021 harvest prices as well, please call <br>
</div>
<div>1-800-265-0550 for more information.<br>
</div>
<div>---</div>
<div><br>
</div>
<div>
<p style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif">
<span style="font-size:10.0pt;font-family:"Courier New"">Blair Andrews</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif">
<span style="font-size:10.0pt;font-family:"Courier New"">Editor, AgriLink and Farm Market News
</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif">
<span style="font-size:10.0pt;font-family:"Courier New"">University of Guelph, Ridgetown Campus</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif">
<span style="font-size:10.0pt;font-family:"Courier New""><o:p> </o:p></span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif">
<span style="font-size:10.0pt;font-family:"Courier New"">Email:fmnc@uoguelph.ca<span style="mso-spacerun:yes">
</span></span></p>
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<span style="font-size:10.0pt;font-family:"Courier New"">Tel. 519-674-1500 x 63577
</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif">
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