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<span style="background-color: rgb(253, 253, 253); color: rgb(51, 51, 51); font-family: "Courier New", monospace; font-size: 10pt;"><span style="text-decoration-line: underline;">FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Tue, February 25<br>
</span></span></div>
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<span style="background-color: rgb(253, 253, 253); color: rgb(51, 51, 51); font-family: "Courier New", monospace; font-size: 10pt;">
<div style="text-decoration-line: underline;">(All Bases in CAD)<br>
</div>
<div style="text-decoration-line: underline;">Exchange rate was 1.327 down 0.0014<br>
</div>
<div style="text-decoration-line: underline;">Chicago corn closed steady to slightly higher.<br>
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<div style="text-decoration-line: underline;"><br>
</div>
<div style="text-decoration-line: underline;"> MAR20 HI 3.74 3/4 DEC20 HI 3.83 3/4<br>
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<div style="text-decoration-line: underline;"> LOW 3.71 1/4 LOW 3.81 1/4<br>
</div>
<div style="text-decoration-line: underline;"> CLOSE3.72 1/2 Up 1/4 CLOSE 3.82 1/4 Unchanged<br>
</div>
<div style="text-decoration-line: underline;"><br>
</div>
<div style="text-decoration-line: underline;"> OLD CROP BASIS NEW CROP BASIS<br>
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<div style="text-decoration-line: underline;">Location Spot 1mt 2mt 3mt U.S. $/bu $/mt Cntrct U.S. $/bu $/mt<br>
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<div style="text-decoration-line: underline;">ELEVATORS +MAY20+MAY20+JUL20<br>
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<div style="text-decoration-line: underline;">CK Low 1.40 5.13 201.76 0.90 4.72 185.92<br>
</div>
<div style="text-decoration-line: underline;">CK High 1.40 5.13 201.76 0.90 4.72 185.92<br>
</div>
<div style="text-decoration-line: underline;">CK Avg 1.40 0.14 5.13 201.76 0.90 -0.26 4.72 185.92<br>
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<div style="text-decoration-line: underline;">Essex Cty 1.40 5.13 201.76 0.90 4.72 185.92<br>
</div>
<div style="text-decoration-line: underline;">Mdsx Low 1.40 5.13 201.76 0.90 4.72 185.92<br>
</div>
<div style="text-decoration-line: underline;">Mdsx High 1.40 5.13 201.76 0.90 4.72 185.92<br>
</div>
<div style="text-decoration-line: underline;">Mdsx Avg 1.40 0.14 5.13 201.76 0.90 -0.26 4.72 185.92<br>
</div>
<div style="text-decoration-line: underline;">Hensall 1.43 5.15 202.75 0.93 4.75 186.90<br>
</div>
<div style="text-decoration-line: underline;">Bruce 1.40 5.13 201.76 0.90 4.72 185.92<br>
</div>
<div style="text-decoration-line: underline;">Putnam 1.40 5.13 201.76 0.90 4.72 185.92<br>
</div>
<div style="text-decoration-line: underline;">Burford 1.40 5.13 201.76 0.90 4.72 185.92<br>
</div>
<div style="text-decoration-line: underline;">Port Perry 1.40 5.13 201.76 0.95 4.77 187.89<br>
</div>
<div style="text-decoration-line: underline;">Norfolk 1.40 5.13 201.76 0.90 4.72 185.92<br>
</div>
<div style="text-decoration-line: underline;">Palmerston 1.38 5.11 200.97 0.93 4.75 187.10<br>
</div>
<div style="text-decoration-line: underline;">Varna 1.40 5.13 201.76 0.90 4.72 185.92<br>
</div>
<div style="text-decoration-line: underline;">Trenton 1.45 5.18 203.73 1.00 4.82 189.85<br>
</div>
<div style="text-decoration-line: underline;">Winchester 1.45 5.18 203.73 1.40 5.22 205.60<br>
</div>
<div style="text-decoration-line: underline;">North Gower 1.45 5.18 203.73 1.40 5.22 205.60<br>
</div>
<div style="text-decoration-line: underline;">Huron FOB 1.58 5.31 208.85 0.97 4.79 188.67<br>
</div>
<div style="text-decoration-line: underline;">Kent FOB 1.65 5.38 211.60 1.00 4.82 189.85<br>
</div>
<div style="text-decoration-line: underline;">Lamb FOB 1.62 5.35 210.42 1.00 4.82 189.85<br>
</div>
<div style="text-decoration-line: underline;">Mdsx FOB 1.65 1.65 1.65N/A 5.38 211.60 1.00 4.82 189.85<br>
</div>
<div style="text-decoration-line: underline;">FOB SW Que 2.28 6.01 236.41N/A<br>
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<div style="text-decoration-line: underline;">Track 1.80 5.53 217.51N/A<br>
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<div style="text-decoration-line: underline;">PROCESSORS<br>
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<div style="text-decoration-line: underline;">Chat-Eth N/A N/A N/A N/A 1.20 5.02 197.73<br>
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<div style="text-decoration-line: underline;">Jhnstwn-Eth N/A N/A N/A N/A 1.39 5.21 205.21<br>
</div>
<div style="text-decoration-line: underline;">Aylmer-Eth N/A N/A N/A N/A N/A<br>
</div>
<div style="text-decoration-line: underline;">Sarn-Eth N/A 1.75 1.75 1.75 N/A<br>
</div>
<div style="text-decoration-line: underline;">London-Ing N/A N/A N/A 1.90 1.30 5.12 201.66<br>
</div>
<div style="text-decoration-line: underline;">Pt.Colb-Ing N/A N/A N/A N/A N/A<br>
</div>
<div style="text-decoration-line: underline;">Cardnl-Ing N/A N/A N/A N/A 1.40 5.22 205.60<br>
</div>
<div style="text-decoration-line: underline;">W O Feed 1.92 5.65 222.23<br>
</div>
<div style="text-decoration-line: underline;"><br>
</div>
<div style="text-decoration-line: underline;">US Rep 2.21 5.94 233.65<br>
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<div style="text-decoration-line: underline;">Toledo El. 0.31 4.03 158.66 -0.27 3.56 140.04<br>
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<div style="text-decoration-line: underline;"><br>
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<div style="text-decoration-line: underline;">TRANSFER<br>
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<div style="text-decoration-line: underline;">Pt. Colb 1.60 5.33 209.64 1.15 4.97 195.76<br>
</div>
<div style="text-decoration-line: underline;">Prescott 2.00 5.73 225.38 1.50 5.32209 1/2<br>
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<div style="text-decoration-line: underline;"><br>
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<div style="text-decoration-line: underline;"><br>
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<div style="text-decoration-line: underline;">HI SD CRN 1.40 5.12 1/2<br>
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<div style="text-decoration-line: underline;">*Wet Bid<br>
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<div style="text-decoration-line: underline;"><br>
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<div style="text-decoration-line: underline;"><br>
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<div style="text-decoration-line: underline;">Exchange rate was 1.327 down 0.0014<br>
</div>
<div style="text-decoration-line: underline;">Chicago soybeans closed slightly higher.<br>
</div>
<div style="text-decoration-line: underline;"><br>
</div>
<div style="text-decoration-line: underline;"> MAR20 HI 8.80 3/4 NOV20 HI 9.11<br>
</div>
<div style="text-decoration-line: underline;"> LOW 8.73 1/4 LOW 9.04<br>
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<div style="text-decoration-line: underline;"> CLOSE8.79 Up 4 3/4 CLOSE 9.10 1/2 Up 5 1/2<br>
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<div style="text-decoration-line: underline;"><br>
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<div style="text-decoration-line: underline;"> OLD CROP NEW CROP<br>
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<div style="text-decoration-line: underline;">Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt<br>
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<div style="text-decoration-line: underline;">ELEVATORS +MAR2+MAY2+MAY20<br>
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<div style="text-decoration-line: underline;">CK Low 2.45 11.24 413.002.25 11.36 417.22<br>
</div>
<div style="text-decoration-line: underline;">CK High 2.50 11.29 414.842.25 11.36 417.22<br>
</div>
<div style="text-decoration-line: underline;">CK Average 2.49 -0.2911.28 414.532.25 -0.5511.36 417.22<br>
</div>
<div style="text-decoration-line: underline;">Essex Cty 2.50 11.29 414.842.25 11.36 417.22<br>
</div>
<div style="text-decoration-line: underline;">Mdsx Low 2.46 11.25 413.372.23 11.34 416.49<br>
</div>
<div style="text-decoration-line: underline;">Mdsx High 2.50 11.29 414.842.25 11.36 417.22<br>
</div>
<div style="text-decoration-line: underline;">Mdsx Average 2.48 -0.3011.27 414.102.24 -0.5611.35 416.86<br>
</div>
<div style="text-decoration-line: underline;">Hensall 2.50 11.29 414.842.25 11.36 417.22<br>
</div>
<div style="text-decoration-line: underline;">Bruce 2.50 11.29 414.842.25 11.36 417.22<br>
</div>
<div style="text-decoration-line: underline;">Putnam 2.50 11.29 414.842.25 11.36 417.22<br>
</div>
<div style="text-decoration-line: underline;">Burford 2.53 11.32 415.942.30 11.41 419.06<br>
</div>
<div style="text-decoration-line: underline;">Port Perry 2.45 11.24 413.002.22 11.33 416.12<br>
</div>
<div style="text-decoration-line: underline;">Norfolk 2.50 11.29 414.842.25 11.36 417.22<br>
</div>
<div style="text-decoration-line: underline;">Palmerston 2.47 11.26 413.732.33 11.44 420.16<br>
</div>
<div style="text-decoration-line: underline;">Varna 2.50 11.29 414.842.25 11.36 417.22<br>
</div>
<div style="text-decoration-line: underline;">Trenton 2.50 11.29 414.842.25 11.36 417.22<br>
</div>
<div style="text-decoration-line: underline;">Winchester 2.50 11.29 414.842.30 11.41 419.06<br>
</div>
<div style="text-decoration-line: underline;">North Gower 2.42 11.21 411.902.33 11.44 420.16<br>
</div>
<div style="text-decoration-line: underline;">Huron FOB 2.65 11.44 420.352.35 11.46 420.90<br>
</div>
<div style="text-decoration-line: underline;">Kent FOB 2.65 11.44 420.352.25 11.36 417.22<br>
</div>
<div style="text-decoration-line: underline;">Lambton FOB 2.70 11.49 422.192.45 11.56 424.57<br>
</div>
<div style="text-decoration-line: underline;">Middlesex FOB2.66 2.66 2.55 N/A 11.45 420.722.35 11.46 420.90<br>
</div>
<div style="text-decoration-line: underline;"><br>
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<div style="text-decoration-line: underline;">PROCESSORS<br>
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<div style="text-decoration-line: underline;">Windsor 3.01 11.80 433.582.51 11.62 426.78<br>
</div>
<div style="text-decoration-line: underline;"><br>
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<div style="text-decoration-line: underline;">TRANSFER<br>
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<div style="text-decoration-line: underline;">Hamilton 3.05 11.84 435.052.70 11.81 433.76<br>
</div>
<div style="text-decoration-line: underline;">Prescott N/A 2.45 11.56 424.57<br>
</div>
<div style="text-decoration-line: underline;">Port Colborne2.68 11.47 421.452.76 11.87 435.96<br>
</div>
<div style="text-decoration-line: underline;"><br>
</div>
<div style="text-decoration-line: underline;">Toledo El. 0.13 8.92 327.85-0.40 8.71 319.92<br>
</div>
<div style="text-decoration-line: underline;"><br>
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<div style="text-decoration-line: underline;"><br>
</div>
<div style="text-decoration-line: underline;">Exchange rate was 1.327 down 0.0014<br>
</div>
<div style="text-decoration-line: underline;">Chicago wheat closed narrowly mixed.<br>
</div>
<div style="text-decoration-line: underline;">MAR20 HI 5.41 1/4 JUL20 HI 5.40 3/4<br>
</div>
<div style="text-decoration-line: underline;"> LOW 5.30 3/4 LOW 5.30 1/4<br>
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<div style="text-decoration-line: underline;"> CLOSE 5.39 Up 2 3/4 CLOSE 5.37 1/4 Up 1/2<br>
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<div style="text-decoration-line: underline;"><br>
</div>
<div style="text-decoration-line: underline;">Minni wheat closed slightly higher.<br>
</div>
<div style="text-decoration-line: underline;">MAR20 HI 5.16 3/4 SEP20 HI 5.49 1/4<br>
</div>
<div style="text-decoration-line: underline;"> LOW 5.12 1/2 LOW 5.45 1/4<br>
</div>
<div style="text-decoration-line: underline;"> CLOSE 5.16 Up 2 CLOSE 5.48 3/4 Up 2<br>
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<div style="text-decoration-line: underline;"><br>
</div>
<div style="text-decoration-line: underline;">GFO Cash Wheat Prices - DEL Terminal<br>
</div>
<div style="text-decoration-line: underline;">Harvest 19 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)<br>
</div>
<div style="text-decoration-line: underline;">Basis 2.03 2.23 2.03 1.29<br>
</div>
<div style="text-decoration-line: underline;">CAD $/bu 7.42 7.62 7.42 6.45<br>
</div>
<div style="text-decoration-line: underline;">CAD $/tonne 272.55 279.87 272.55 236.96<br>
</div>
<div style="text-decoration-line: underline;"><br>
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<div style="text-decoration-line: underline;"><br>
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<div style="text-decoration-line: underline;">Direct MarkHarvest 2019 Harvest 2020<br>
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<div style="text-decoration-line: underline;"> DELIVERED BASIS DELIVERED BASIS<br>
</div>
<div style="text-decoration-line: underline;">Location SWW(C) HRW(C) SRW(C) HRS(M) SWW(C) HRW(C) SRW(C) HRS(M)<br>
</div>
<div style="text-decoration-line: underline;">ELEVATORS<br>
</div>
<div style="text-decoration-line: underline;">Brgssvll N/A N/A N/A N/A N/A N/A 1.30 N/A<br>
</div>
<div style="text-decoration-line: underline;">London 1.87 2.14 1.80 N/A 1.40 1.67 1.20 N/A<br>
</div>
<div style="text-decoration-line: underline;">Hensall 1.88 N/A 1.88 N/A 1.50 N/A 1.30 N/A<br>
</div>
<div style="text-decoration-line: underline;">Trenton N/A N/A N/A N/A N/A N/A 1.30 N/A<br>
</div>
<div style="text-decoration-line: underline;">Bruce 1.95 2.15 1.95 1.90 1.50 1.70 1.30 1.30<br>
</div>
<div style="text-decoration-line: underline;">Essex N/A N/A 1.85 N/A N/A N/A 1.25 N/A<br>
</div>
<div style="text-decoration-line: underline;">Norwich 1.88 N/A 1.88 N/A 1.50 N/A 1.30 N/A<br>
</div>
<div style="text-decoration-line: underline;">Port Hope N/A N/A 1.80 N/A N/A N/A 1.30 N/A<br>
</div>
<div style="text-decoration-line: underline;">Kent Bridge 1.88 N/A 1.88 N/A 1.50 N/A 1.30 N/A<br>
</div>
<div style="text-decoration-line: underline;">Chatham N/A N/A 1.85 N/A N/A N/A 1.25 N/A<br>
</div>
<div style="text-decoration-line: underline;">Brigden N/A N/A 1.85 N/A N/A N/A 1.25 N/A<br>
</div>
<div style="text-decoration-line: underline;">Palmerston N/A 2.29 1.83 1.75 N/A 1.64 1.24 1.20<br>
</div>
<div style="text-decoration-line: underline;">Varna 2.00 2.15 1.90 N/A 1.50 1.70 1.30 N/A<br>
</div>
<div style="text-decoration-line: underline;">Mitchell 1.88 2.13 1.88 N/A 1.50 1.65 1.30 N/A<br>
</div>
<div style="text-decoration-line: underline;">Thornton N/A N/A N/A 2.04 N/A N/A N/A N/A<br>
</div>
<div style="text-decoration-line: underline;">North Gower N/A 2.00 1.85 1.00 N/A 1.81 1.56 0.95<br>
</div>
<div style="text-decoration-line: underline;">W O Feed 2.41<br>
</div>
<div style="text-decoration-line: underline;"><br>
</div>
<div style="text-decoration-line: underline;">TERMINAL<br>
</div>
<div style="text-decoration-line: underline;">Port Colbor N/A N/A 2.20 N/A N/A N/A 1.60 N/A<br>
</div>
<div style="text-decoration-line: underline;"><br>
</div>
<div style="text-decoration-line: underline;">PROCESSORS<br>
</div>
<div style="text-decoration-line: underline;">Toledo FM N/A N/A 2.09 N/A N/A N/A 1.89 N/A<br>
</div>
<div style="text-decoration-line: underline;"><br>
</div>
<div style="text-decoration-line: underline;">Toledo El. 5.54US 7.35CA 5.47US 7.26CA<br>
</div>
<div style="text-decoration-line: underline;"><br>
</div>
<div style="text-decoration-line: underline;">GFO Contract Wheat Prices - DEL Terminal<br>
</div>
<div style="text-decoration-line: underline;">Harvest 20 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)<br>
</div>
<div style="text-decoration-line: underline;">Basis 1.56 1.82 1.56 1.06<br>
</div>
<div style="text-decoration-line: underline;">CAD $/bu 6.93 7.20 6.93 6.55<br>
</div>
<div style="text-decoration-line: underline;">CAD $/tonne 254.65 264.41 254.65 240.76<br>
</div>
<div style="text-decoration-line: underline;"><br>
</div>
<div style="text-decoration-line: underline;">(C)-Basis over the Chicago Board of Trade futures<br>
</div>
<div style="text-decoration-line: underline;">(M)-Basis over the Minneapolis Grain Exchange<br>
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<div style="text-decoration-line: underline;"><br>
</div>
<div style="text-decoration-line: underline;">FEED GRAINS<br>
</div>
<div style="text-decoration-line: underline;">FOB Hm Soymeal 437.63<br>
</div>
<div style="text-decoration-line: underline;">DDG's FOB Srn & Aylm 230.00 - 235.00<br>
</div>
<div style="text-decoration-line: underline;"><br>
</div>
<div style="text-decoration-line: underline;"><br>
</div>
<div style="">
<p style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;">
<span style="font-size: 10pt; 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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