<html>
<head>
<meta http-equiv="Content-Type" content="text/html; charset=ks_c_5601-1987">
<style type="text/css" style="display:none;"> P {margin-top:0;margin-bottom:0;} </style>
</head>
<body dir="ltr">
<div style="font-family: "Courier New", monospace; font-size: 10pt; color: rgb(0, 0, 0);">
<span><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, January 29<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>Exchange rate was 1.3198 up 0.0029<br>
</u></div>
<div><u>Chicago corn closed slightly lower.<br>
</u></div>
<div><u><br>
</u></div>
<div><u> MAR20 HI 3.88 1/4 DEC20 HI 3.98 1/2<br>
</u></div>
<div><u> LOW 3.82 3/4 LOW 3.94 1/4<br>
</u></div>
<div><u> CLOSE3.84 1/4 Down 2 1/4 CLOSE 3.95 1/4 Down 2 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 +MAR20+MAY20+MAY20<br>
</u></div>
<div><u>CK Low 1.35 5.19 204.42 0.85 4.80 189.07<br>
</u></div>
<div><u>CK High 1.35 5.19 204.42 0.95 4.90 193.00<br>
</u></div>
<div><u>CK Avg 1.35 0.09 5.19 204.42 0.88 -0.29 4.83 190.05<br>
</u></div>
<div><u>Essex Cty 1.35 5.19 204.42 0.85 4.80 189.07<br>
</u></div>
<div><u>Mdsx Low 1.35 5.19 204.42 0.85 4.80 189.07<br>
</u></div>
<div><u>Mdsx High 1.35 5.19 204.42 0.85 4.80 189.07<br>
</u></div>
<div><u>Mdsx Avg 1.35 0.09 5.19 204.42 0.85 -0.31 4.80 189.07<br>
</u></div>
<div><u>Hensall 1.38 5.22 205.40 0.88 4.83 190.05<br>
</u></div>
<div><u>Bruce 1.35 5.19 204.42 0.85 4.80 189.07<br>
</u></div>
<div><u>Putnam 1.35 5.19 204.42 0.85 4.80 189.07<br>
</u></div>
<div><u>Burford 1.35 5.19 204.42 0.85 4.80 189.07<br>
</u></div>
<div><u>Port Perry 1.35 5.19 204.42 0.95 4.90 193.00<br>
</u></div>
<div><u>Norfolk 1.35 5.19 204.42 0.85 4.80 189.07<br>
</u></div>
<div><u>Palmerston 1.36 5.20 204.81 0.92 4.87 191.82<br>
</u></div>
<div><u>Varna 1.35 5.19 204.42 0.85 4.80 189.07<br>
</u></div>
<div><u>Trenton 1.45 5.29 208.36 1.00 4.95 194.97<br>
</u></div>
<div><u>Winchester 1.45 5.29 208.36 1.30 5.25 206.78<br>
</u></div>
<div><u>North Gower 1.43 5.27 207.57 1.35 5.30 208.75<br>
</u></div>
<div><u>Huron FOB 1.55 5.39 212.29 0.87 4.82 189.85<br>
</u></div>
<div><u>Kent FOB 1.53 5.37 211.51 0.85 4.80 189.07<br>
</u></div>
<div><u>Lamb FOB 1.55 5.39 212.29 1.00 4.95 194.97<br>
</u></div>
<div><u>Mdsx FOB 1.55 1.55N/A N/A 5.39 212.29 0.90 4.85 191.03<br>
</u></div>
<div><u>FOB SW Que 2.23 6.07 239.06N/A<br>
</u></div>
<div><u>Track 1.78 5.62 221.35N/A<br>
</u></div>
<div><u>PROCESSORS<br>
</u></div>
<div><u>Chat-Eth N/A N/A N/A N/A 1.06 5.01 197.33<br>
</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A 1.89 1.39 5.34 210.32<br>
</u></div>
<div><u>Aylmer-Eth N/A 1.60N/A N/A 1.05 5.00 196.94<br>
</u></div>
<div><u>Sarn-Eth 1.60 1.60N/A N/A 5.44 214.26N/A<br>
</u></div>
<div><u>London-Ing N/A N/A N/A N/A 1.30 5.25 206.78<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 N/A N/A 2.00 2.00 1.40 5.35 210.72<br>
</u></div>
<div><u>W O Feed 1.92 5.76 226.78<br>
</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 2.22 6.06 238.67<br>
</u></div>
<div><u>Toledo El. 0.30 4.15 163.22 -0.26 3.69 145.21<br>
</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER<br>
</u></div>
<div><u>Pt. Colb 1.60 5.44 214.26 1.15 5.10 200.88<br>
</u></div>
<div><u>Prescott 1.85 5.69 224.10 1.40 5.35210 5/7<br>
</u></div>
<div><u><br>
</u></div>
<div><u>MID SD CRN 1.35 5.19 1/4<br>
</u></div>
<div><u>HI SD CRN 1.35 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 1.3198 up 0.0029<br>
</u></div>
<div><u>Chicago soybeans closed slightly lower.<br>
</u></div>
<div><u><br>
</u></div>
<div><u> MAR20 HI 9.03 NOV20 HI 9.38 1/2<br>
</u></div>
<div><u> LOW 8.90 3/4 LOW 9.27 1/4<br>
</u></div>
<div><u> CLOSE8.93 Down 2 CLOSE 9.29 1/2 Down 1<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 +MAR2+MAR2+MAY20<br>
</u></div>
<div><u>CK Low 2.25 11.18 410.792.15 11.45 420.53<br>
</u></div>
<div><u>CK High 2.30 11.23 412.632.20 11.50 422.37<br>
</u></div>
<div><u>CK Average 2.28 -0.4411.21 411.902.18 -0.6011.48 421.70<br>
</u></div>
<div><u>Essex Cty 2.30 11.23 412.632.20 11.50 422.37<br>
</u></div>
<div><u>Mdsx Low 2.25 11.18 410.792.15 11.45 420.53<br>
</u></div>
<div><u>Mdsx High 2.29 11.22 412.262.17 11.47 421.27<br>
</u></div>
<div><u>Mdsx Average 2.27 -0.4411.20 411.532.16 -0.6111.46 420.90<br>
</u></div>
<div><u>Hensall 2.28 11.21 411.712.18 11.47 421.45<br>
</u></div>
<div><u>Bruce 2.25 11.18 410.792.15 11.45 420.53<br>
</u></div>
<div><u>Putnam 2.25 11.18 410.792.15 11.45 420.53<br>
</u></div>
<div><u>Burford 2.36 11.29 414.842.24 11.54 423.84<br>
</u></div>
<div><u>Port Perry 2.28 11.21 411.902.16 11.46 420.90<br>
</u></div>
<div><u>Norfolk 2.30 11.23 412.632.20 11.50 422.37<br>
</u></div>
<div><u>Palmerston 2.33 11.26 413.732.15 11.45 420.53<br>
</u></div>
<div><u>Varna 2.30 11.23 412.632.20 11.50 422.37<br>
</u></div>
<div><u>Trenton 2.25 11.18 410.792.15 11.45 420.53<br>
</u></div>
<div><u>Winchester 2.30 11.23 412.632.30 11.60 426.04<br>
</u></div>
<div><u>North Gower 2.26 11.19 411.162.28 11.58 425.31<br>
</u></div>
<div><u>Huron FOB 2.45 11.38 418.142.30 11.60 426.04<br>
</u></div>
<div><u>Kent FOB 2.50 11.43 419.982.20 11.50 422.37<br>
</u></div>
<div><u>Lambton FOB 2.40 11.33 416.312.35 11.65 427.88<br>
</u></div>
<div><u>Middlesex FOB2.44 2.44 N/A N/A 11.37 417.782.27 11.57 424.94<br>
</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS<br>
</u></div>
<div><u>Windsor 2.72 11.65 428.062.51 11.81 433.76<br>
</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER<br>
</u></div>
<div><u>Hamilton 2.80 11.73 431.002.65 11.95 438.90<br>
</u></div>
<div><u>Prescott N/A 2.50 11.80 433.39<br>
</u></div>
<div><u>Port Colborne2.66 11.59 425.862.68 11.98 440.01<br>
</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 0.00 8.93 328.12-0.40 8.90 326.99<br>
</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.3198 up 0.0029<br>
</u></div>
<div><u>Chicago wheat closed slightly to moderately lower.<br>
</u></div>
<div><u>MAR20 HI 5.73 1/4 JUL20 HI 5.70 3/4<br>
</u></div>
<div><u> LOW 5.61 LOW 5.59 1/4<br>
</u></div>
<div><u> CLOSE 5.62 1/4 Down 7 1/2 CLOSE 5.60 1/2 Down 6 3/4<br>
</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly to moderately lower.<br>
</u></div>
<div><u>MAR20 HI 5.44 SEP20 HI 5.65<br>
</u></div>
<div><u> LOW 5.35 1/4 LOW 5.63<br>
</u></div>
<div><u> CLOSE 5.35 3/4 Down 6 1/2 CLOSE 5.63 Down 5 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 2.06 2.26 2.06 1.32<br>
</u></div>
<div><u>CAD $/bu 7.68 7.88 7.68 6.67<br>
</u></div>
<div><u>CAD $/tonne 282.35 289.63 282.35 245.26<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 N/A N/A N/A N/A 1.25 N/A<br>
</u></div>
<div><u>London 1.91 2.30 1.91 N/A 1.44 1.71 1.25 N/A<br>
</u></div>
<div><u>Hensall 1.85 N/A 1.85 N/A 1.45 N/A 1.25 N/A<br>
</u></div>
<div><u>Trenton N/A N/A N/A N/A N/A N/A 1.30 N/A<br>
</u></div>
<div><u>Bruce 1.85 2.10 1.85 1.80 1.45 1.65 1.20 1.20<br>
</u></div>
<div><u>Essex N/A N/A 1.85 N/A N/A N/A 1.25 N/A<br>
</u></div>
<div><u>Norwich 1.85 N/A 1.85 N/A 1.45 N/A 1.25 N/A<br>
</u></div>
<div><u>Port Hope N/A N/A 1.75 N/A N/A N/A 1.30 N/A<br>
</u></div>
<div><u>Kent Bridge 1.85 N/A 1.85 N/A 1.45 N/A 1.25 N/A<br>
</u></div>
<div><u>Chatham N/A N/A 1.85 N/A N/A N/A 1.25 N/A<br>
</u></div>
<div><u>Brigden N/A N/A 1.85 N/A N/A N/A 1.25 N/A<br>
</u></div>
<div><u>Palmerston N/A N/A 1.87 1.78 N/A N/A 1.28 1.21<br>
</u></div>
<div><u>Varna 1.95 2.25 1.85 N/A 1.45 1.65 1.25 N/A<br>
</u></div>
<div><u>Mitchell 1.85 2.20 1.85 N/A 1.45 1.60 1.25 N/A<br>
</u></div>
<div><u>Thornton N/A N/A N/A 2.13 N/A N/A N/A N/A<br>
</u></div>
<div><u>North Gower N/A 1.90 1.75 0.95 N/A 1.81 1.56 0.95<br>
</u></div>
<div><u>W O Feed 2.53<br>
</u></div>
<div><u><br>
</u></div>
<div><u>TERMINAL<br>
</u></div>
<div><u>Port Colbor N/A N/A 2.24 N/A N/A N/A 1.64 N/A<br>
</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS<br>
</u></div>
<div><u>Toledo FM N/A N/A 2.19 N/A N/A N/A 1.92 N/A<br>
</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 5.77US 7.62CA 5.71US 7.53CA<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 1.59 1.86 1.53 1.01<br>
</u></div>
<div><u>CAD $/bu 7.20 7.46 7.13 6.64<br>
</u></div>
<div><u>CAD $/tonne 264.50 274.20 262.07 243.89<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 441.04<br>
</u></div>
<div><u>DDG's FOB Srn & Aylm 215.00 - 235.00<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 January 29, 2020</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);">
<br>
</div>
<div style="font-family: "Courier New", monospace; font-size: 10pt; color: rgb(0, 0, 0);">
<div>Wednesday, January 29, 2020<br>
</div>
<div><br>
</div>
<div>COMMODITY PERIOD PRICE WEEKLY MOVEMENT<br>
</div>
<div>Corn CBOT Mar 3.84¨ù ¡é 4¨ö cents<br>
</div>
<div>Soybeans CBOT Mar 8.93 ¡é 20¨ú cents<br>
</div>
<div>Wheat CBOT Mar 5.62¨ù ¡é 15¨ö cents<br>
</div>
<div>Wheat Minn. Mar 5.35¨ú ¡é 19¨ú cents<br>
</div>
<div>Wheat Kansas Mar 4.72 ¡é 20¨ö cents<br>
</div>
<div>Oats CBOT Mar 3.07¨ú ¡é 5¨ö cents<br>
</div>
<div><br>
</div>
<div>Canadian $ Mar 0.7576 ¡é 31 points<br>
</div>
<div><br>
</div>
<div>CORN: <br>
</div>
<div>The South African corn crop is expected to reach 2.5 million hectares (6.2 million acres). Corn production could reach 13.3 million tonnes. This should indicate that South Africa has enough corn to meet local demand and allow for exports as well.<br>
</div>
<div>U.S. corn demand has improved recently. According to traders, U.S. corn prices are low in comparison to their competitors. Private exporters have sold 124,335 tonnes of U.S. corn to Mexico and 141,000 tonnes to unknown destinations.<br>
</div>
<div><br>
</div>
<div>SOYBEANS: <br>
</div>
<div>Soybean futures are trading at their weakest since mid-December. There are fears that the Coronavirus outbreak in China may curb demand. Such fears are weighing heavily on commodity markets in general. U.S. soybean export inspections were down this past
week but were in line with trade expectations.<br>
</div>
<div>Brazil¡¯s soybean acreage has been forecast to be 91.2 million acres, and if the weather cooperates, Brazil is expected to overtake the U.S. as the world¡¯s largest producer of soybeans.<br>
</div>
<div><br>
</div>
<div>WHEAT:<br>
</div>
<div>Over the past few months China has purchased approximately 1 million tonnes of wheat from Australia, Canada, and France as part of its 9.6 million tonne annual wheat quota that China allocates to buyers. The most recent purchase was for 400,000 tonnes
from Australia. This was surprising given the recent trade agreement between the U.S. and China, in addition to Australian wheat having strong premiums to global wheat prices.<br>
</div>
<div>Australia¡¯s major exporting states have exported just over 3 million tonnes of wheat since October. This is almost at the halfway mark of their exportable surplus of wheat for this marketing year.<br>
</div>
<div><br>
</div>
<div>2019 cash prices for January 29, 2020, at the market close, are as follows:<br>
</div>
<div><br>
</div>
<div>SWW at $282.40/mt ($7.69/bu), HRW at $289.68/mt ($7.88/bu), <br>
</div>
<div>HRS at $245.30/mt ($6.68/bu), and SRW at $282.40/mt ($7.69/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>
<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">
<span style="font-size:10.0pt;font-family:"Courier New"">Fax. 519-674-1530<br>
<br>
<span style="background:#FDFDFD">Click on this link:<span><span style="color:#333333"> </span></span></span><span><span style="color:#336699">farmmarketnews-unsubscribe@list.gfo.ca</span></span><span><span style="color:#333333;background:#FDFDFD"> </span></span><span style="background:#FDFDFD"> to
unsubscribe from this report.</span><br>
<span style="background:#FDFDFD">This Farm Market News product is sponsored by:</span><br>
<span style="background:#FDFDFD">Grain Farmers of Ontario</span></span></p>
<br>
</div>
<div><br>
</div>
<div><br>
</div>
<div><br>
</div>
</div>
</body>
</html>