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<span><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, October 9<br>
</u></span></div>
<div style="font-family: "Courier New", monospace; font-size: 10pt; color: rgb(0, 0, 0);">
<div><u>(All Bases in CAD)<br>
</u></div>
<div><u>Bank of Canada Noon exchange rate was 1.3324 up 0.0008<br>
</u></div>
<div><u>Chicago corn closed slightly lower.<br>
</u></div>
<div><u><br>
</u></div>
<div><u> DEC19 HI 3.97 1/4 DEC20 HI 4.09 3/4<br>
</u></div>
<div><u> LOW 3.93 LOW 4.07 3/4<br>
</u></div>
<div><u> CLOSE3.94 1/4 Down 1 1/2 CLOSE 4.08 3/4 Down 1/4<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 5.14 202.45 0.90 4.99 196.35<br>
</u></div>
<div><u>CK High 1.25 5.19 204.42 0.90 4.99 196.35<br>
</u></div>
<div><u>CK Avg 1.24 -0.05 5.18 204.09 0.90 -0.34 4.99 196.35<br>
</u></div>
<div><u>Essex Cty 1.25 5.19 204.42 0.90 4.99 196.35<br>
</u></div>
<div><u>Mdsx Low 1.25 5.19 204.42 0.90 4.99 196.35<br>
</u></div>
<div><u>Mdsx High 1.25 5.19 204.42 0.90 4.99 196.35<br>
</u></div>
<div><u>Mdsx Avg 1.25 -0.05 5.19 204.42 0.90 -0.34 4.99 196.35<br>
</u></div>
<div><u>Hensall 1.28 5.22 205.40 0.90 4.99 196.35<br>
</u></div>
<div><u>Bruce 1.25 5.19 204.42 0.85 4.94 194.38<br>
</u></div>
<div><u>Putnam 1.25 5.19 204.42 0.90 4.99 196.35<br>
</u></div>
<div><u>Burford 1.25 5.19 204.42 0.90 4.99 196.35<br>
</u></div>
<div><u>Port Perry 1.35 5.29 208.36 0.90 4.99 196.35<br>
</u></div>
<div><u>Norfolk 1.25 5.19 204.42 0.90 4.99 196.35<br>
</u></div>
<div><u>Palmerston 1.25 5.19 204.42 0.89 4.98 195.96<br>
</u></div>
<div><u>Varna 1.25 5.19 204.42 0.85 4.94 194.38<br>
</u></div>
<div><u>Trenton 1.30 5.24 206.39 0.85 4.94 194.38<br>
</u></div>
<div><u>Winchester 1.40 5.34 210.32 1.10 5.19 204.22<br>
</u></div>
<div><u>North Gower 1.40 5.34 210.32 1.10 5.19 204.22<br>
</u></div>
<div><u>Huron FOB 1.35 5.29 208.36 0.90 4.99 196.35<br>
</u></div>
<div><u>Kent FOB 1.25 5.19 204.42 0.90 4.99 196.35<br>
</u></div>
<div><u>Lamb FOB 1.35 5.29 208.36 1.00 5.09 200.29<br>
</u></div>
<div><u>Mdsx FOB 1.25 1.25N/A N/A 5.19 204.42N/A<br>
</u></div>
<div><u>FOB SW Que 2.40 6.34 249.69N/A<br>
</u></div>
<div><u>Track 1.93 5.87 230.99N/A<br>
</u></div>
<div><u>PROCESSORS<br>
</u></div>
<div><u>Chat-Eth N/A N/A 1.62N/A 1.29 5.38 211.70<br>
</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A N/A 1.42 5.51 216.82<br>
</u></div>
<div><u>Aylmer-Eth 1.80N/A 1.50 1.55 5.74 226.07 1.20 5.29 208.16<br>
</u></div>
<div><u>Sarn-Eth 1.40 1.40N/A N/A 5.34 210.32N/A<br>
</u></div>
<div><u>London-Ing N/A N/A 1.70 1.70 1.25 5.34 210.13<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 5.89 231.98 1.30 5.39 212.10<br>
</u></div>
<div><u>W O Feed 2.50 6.44 253.71<br>
</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 2.07 6.01 236.70<br>
</u></div>
<div><u>Toledo El. 0.33 4.28 168.32 -0.27 3.82 150.43<br>
</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER<br>
</u></div>
<div><u>Pt. Colb 1.50 5.44 214.26N/A<br>
</u></div>
<div><u>Prescott 1.55 5.49 216.23N/A<br>
</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 1.22 1/2 5.16 3/4<br>
</u></div>
<div><u>HI SD CRN 1.25 5.19 1/4<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 1.3324 up 0.0008<br>
</u></div>
<div><u>Chicago soybeans closed slightly higher.<br>
</u></div>
<div><u><br>
</u></div>
<div><u> NOV19 HI 9.31 1/2 NOV20 HI 9.74<br>
</u></div>
<div><u> LOW 9.18 1/4 LOW 9.64 3/4<br>
</u></div>
<div><u> CLOSE9.23 3/4 Up 3 1/4 CLOSE 9.69 3/4 Up 2 1/4<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 2.29 11.53 423.562.00 11.70 429.81<br>
</u></div>
<div><u>CK High 2.30 11.54 423.932.16 11.86 435.69<br>
</u></div>
<div><u>CK Average 2.30 -0.5811.54 423.872.13 -0.8211.82 434.46<br>
</u></div>
<div><u>Essex Cty 2.30 11.54 423.932.15 11.85 435.32<br>
</u></div>
<div><u>Mdsx Low 2.26 11.50 422.462.13 11.83 434.59<br>
</u></div>
<div><u>Mdsx High 2.30 11.54 423.932.15 11.85 435.32<br>
</u></div>
<div><u>Mdsx Average 2.28 -0.5911.52 423.202.14 -0.8111.84 434.95<br>
</u></div>
<div><u>Hensall 2.30 11.54 423.932.15 11.85 435.32<br>
</u></div>
<div><u>Bruce 2.30 11.54 423.932.15 11.85 435.32<br>
</u></div>
<div><u>Putnam 2.30 11.54 423.932.15 11.85 435.32<br>
</u></div>
<div><u>Burford 2.33 11.57 425.032.20 11.90 437.16<br>
</u></div>
<div><u>Port Perry 2.29 11.53 423.562.16 11.86 435.69<br>
</u></div>
<div><u>Norfolk 2.30 11.54 423.932.15 11.85 435.32<br>
</u></div>
<div><u>Palmerston 2.34 11.58 425.402.08 11.78 432.75<br>
</u></div>
<div><u>Varna 2.30 11.54 423.932.15 11.85 435.32<br>
</u></div>
<div><u>Trenton 2.30 11.54 423.932.15 11.85 435.32<br>
</u></div>
<div><u>Winchester 2.30 11.54 423.932.30 12.00 440.83<br>
</u></div>
<div><u>North Gower 2.26 11.50 422.462.26 11.96 439.36<br>
</u></div>
<div><u>Huron FOB 2.40 11.64 427.602.25 11.95 439.00<br>
</u></div>
<div><u>Kent FOB 2.30 11.54 423.932.15 11.85 435.32<br>
</u></div>
<div><u>Lambton FOB 2.25 11.49 422.092.25 11.95 439.00<br>
</u></div>
<div><u>Middlesex FOB2.32 2.32 N/A N/A 11.56 424.672.25 11.95 439.00<br>
</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS<br>
</u></div>
<div><u>Windsor 2.61 11.85 435.322.63 12.33 452.96<br>
</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER<br>
</u></div>
<div><u>Hamilton 2.75 11.99 440.472.50 12.20 448.18<br>
</u></div>
<div><u>Prescott 2.45 11.69 429.44 N/A<br>
</u></div>
<div><u>Port Colborne2.73 11.97 439.73 N/A<br>
</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.36 8.88 326.20-0.47 9.23 339.20<br>
</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.3324 up 0.0008<br>
</u></div>
<div><u>Chicago wheat closed narrowly mixed.<br>
</u></div>
<div><u>DEC19 HI 5.04 1/2 JUL20 HI 5.19 1/4<br>
</u></div>
<div><u> LOW 4.97 1/4 LOW 5.13<br>
</u></div>
<div><u> CLOSE 5.00 1/4 Unchanged CLOSE 5.16 1/4 Down 1/4<br>
</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly lower.<br>
</u></div>
<div><u>DEC19 HI 5.48 SEP20 HI 5.86 1/2<br>
</u></div>
<div><u> LOW 5.41 1/4 LOW 5.79 1/2<br>
</u></div>
<div><u> CLOSE 5.41 3/4 Down 1 3/4 CLOSE 5.80 1/4 Down 2 1/2<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 2.13 2.33 2.00 1.40<br>
</u></div>
<div><u>CAD $/bu 7.13 7.33 7.00 6.82<br>
</u></div>
<div><u>CAD $/tonne 262.04 269.38 257.14 250.53<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 1.65 N/A N/A N/A 1.20 N/A<br>
</u></div>
<div><u>London 1.77 2.03 1.64 N/A 1.36 1.56 1.22 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 1.67 1.41 N/A N/A 1.33 1.07<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 1.30 N/A N/A N/A N/A<br>
</u></div>
<div><u>North Gower N/A 2.00 1.70 1.15 N/A 1.83 1.48 1.00<br>
</u></div>
<div><u>W O Feed 2.30<br>
</u></div>
<div><u><br>
</u></div>
<div><u>TERMINAL<br>
</u></div>
<div><u>Port Colbor 2.11 2.38 2.04 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 2.26 N/A N/A N/A 1.71 N/A<br>
</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 5.18US 6.90CA 5.16US 6.87CA<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 1.65 1.91 1.58 1.12<br>
</u></div>
<div><u>CAD $/bu 6.81 7.07 6.74 6.93<br>
</u></div>
<div><u>CAD $/tonne 250.14 259.92 247.69 254.54<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 523.28<br>
</u></div>
<div><u>DDG's FOB Srn & Aylm 220.00 - 230.00 <br>
</u></div>
<div><u><br>
</u></div>
<div>---</div>
<div>Ontario Grain Market Commentary for October 9, 2019</div>
<div>By Todd Austin, Grain Farmers of Ontario</div>
<div><br>
</div>
<div>
<div>Wednesday, October 9, 2019<br>
</div>
<div><br>
</div>
<div>COMMODITY PERIOD PRICE WEEKLY MOVEMENT<br>
</div>
<div>Corn CBOT Dec 3. 94¨ù ¡è 6¨ö cents<br>
</div>
<div>Soybeans CBOT Nov 9.23¨ú ¡è 10 cents<br>
</div>
<div>Wheat CBOT Dec 5.00¨ù ¡è 11¨ù cents<br>
</div>
<div>Wheat Minn. Dec 5.42¨ù ¡è 12¨ú cents<br>
</div>
<div>Wheat Kansas Dec 4.13¨ù ¡è 7¨ö cents<br>
</div>
<div>Oats CBOT Dec 2.84¨ö ¡è 1¨ú cents <br>
</div>
<div> <br>
</div>
<div>Canadian $ Dec 0.75055 ¡é 10 points<br>
</div>
<div><br>
</div>
<div>CORN: <br>
</div>
<div>Both Informa and INTL FCStone have recently released their updated yield expectations for the US Corn crop. Informa¡¯s yield estimate is 167.5 bushels per acre, while INTL FCStone is estimating 169.3 bushels per acre. The previous USDA estimate for corn
was 168.2 bushels per acre. There will be a USDA World Agricultural Supply and Demand Estimate report on October 10, and it will be interesting to see if the USDA has adjusted their yield expectations for corn.<br>
</div>
<div>Corn harvest is 15 per cent complete versus a five-year average of 27% complete. Corn dent stage is 93 per cent and the crop considered as mature is 58 per cent, versus an 85% five-year average.<br>
</div>
<div><br>
</div>
<div>SOYBEANS: <br>
</div>
<div>Informa has released their soybean yield expectations. They are estimating final yield to be 46.5 bushels per acre. The USDA¡¯s previous estimate for soybean yield was 47.9 bushels per acre.<br>
</div>
<div>Approximately 14 per cent of the US soy crop has been harvested to date, well below the five-year average of 34 per cent.<br>
</div>
<div> In Argentina, soybean production is forecast at 53 million tonnes, while exports have been reduced due to decreased global demand. In 2019-20, domestic crushers are forecast to process 44 million tonnes of beans in this area.<br>
</div>
<div>Meanwhile, in Brazil, the agribusiness consultancy AGRural has indicated the slowest start to the soybean planting season in six years, due in part to a dry season.
<br>
</div>
<div><br>
</div>
<div>WHEAT:<br>
</div>
<div>Egypt¡¯s GASC has purchased 180,000 tonnes of Russian wheat and 115,000 tonnes of Ukrainian wheat in their latest tender. The purchase value is estimated at $221 C&F.<br>
</div>
<div>French soft wheat production is pegged at 39.7 million tonnes, up 17% from the previous year. France estimates that soft wheat exports, outside of the EU, to be 11.7 million tonnes.<br>
</div>
<div>The USDA is reporting Australian wheat production at 18 million tonnes, due in part to dry conditions in that country. This estimate is well below their long-term average production.<br>
</div>
<div><br>
</div>
<div>2019 cash prices for October 9, 2019, at the market close, are as follows:<br>
</div>
<div><br>
</div>
<div>SWW at $262.05 /mt ($7.13/bu), HRW at $269.39/mt ($7.33/bu), <br>
</div>
<div>HRS at $250.78/mt ($6.83/bu), and SRW at $257.15/mt ($7.00/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><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>
<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"">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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