<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, March 4<br>
</u></span>
<div><u>(All Bases in CAD)<br>
</u></div>
<div><u>Exchange rate was 1.3399 up 0.0018<br>
</u></div>
<div><u>Chicago corn closed slightly higher.<br>
</u></div>
<div><u><br>
</u></div>
<div><u> MAY20 HI 3.86 3/4 DEC20 HI 3.86 3/4<br>
</u></div>
<div><u> LOW 3.79 LOW 3.82 1/4<br>
</u></div>
<div><u> CLOSE3.85 Up 3 3/4 CLOSE 3.85 1/2 Up 1<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 +MAY20+JUL20+JUL20<br>
</u></div>
<div><u>CK Low 1.40 5.25 206.68 0.90 4.76 187.20<br>
</u></div>
<div><u>CK High 1.40 5.25 206.68 0.90 4.76 187.20<br>
</u></div>
<div><u>CK Avg 1.40 0.07 5.25 206.68 0.90 -0.31 4.76 187.20<br>
</u></div>
<div><u>Essex Cty 1.40 5.25 206.68 0.90 4.76 187.20<br>
</u></div>
<div><u>Mdsx Low 1.40 5.25 206.68 0.90 4.76 187.20<br>
</u></div>
<div><u>Mdsx High 1.40 5.25 206.68 0.90 4.76 187.20<br>
</u></div>
<div><u>Mdsx Avg 1.40 0.07 5.25 206.68 0.90 -0.31 4.76 187.20<br>
</u></div>
<div><u>Hensall 1.43 5.28 207.67 0.93 4.78 188.18<br>
</u></div>
<div><u>Bruce 1.40 5.25 206.68 0.90 4.76 187.20<br>
</u></div>
<div><u>Putnam 1.40 5.25 206.68 0.90 4.76 187.20<br>
</u></div>
<div><u>Burford 1.40 5.25 206.68 0.90 4.76 187.20<br>
</u></div>
<div><u>Port Perry 1.40 5.25 206.68 0.95 4.81 189.16<br>
</u></div>
<div><u>Norfolk 1.40 5.25 206.68 0.90 4.76 187.20<br>
</u></div>
<div><u>Palmerston 1.44 5.29 208.26 0.99 4.85 190.74<br>
</u></div>
<div><u>Varna 1.40 5.25 206.68 0.95 4.81 189.16<br>
</u></div>
<div><u>Trenton 1.45 5.30 208.65 1.00 4.86 191.13<br>
</u></div>
<div><u>Winchester 1.45 5.30 208.65 1.41 5.27 207.27<br>
</u></div>
<div><u>North Gower 1.48 5.33 209.83 1.42 5.28 207.67<br>
</u></div>
<div><u>Huron FOB 1.62 5.47 215.34 0.95 4.81 189.16<br>
</u></div>
<div><u>Kent FOB 1.65 5.50 216.53 1.00 4.86 191.13<br>
</u></div>
<div><u>Lamb FOB 1.67 5.52 217.31 1.05 4.91 193.10<br>
</u></div>
<div><u>Mdsx FOB 1.60 1.60N/A N/A 5.45 214.56 1.00 4.86 191.13<br>
</u></div>
<div><u>FOB SW Que 2.18 6.03 237.39N/A<br>
</u></div>
<div><u>Track 1.85 5.70 224.20N/A<br>
</u></div>
<div><u>PROCESSORS<br>
</u></div>
<div><u>Chat-Eth N/A N/A N/A N/A N/A<br>
</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A N/A 1.43 5.29 208.06<br>
</u></div>
<div><u>Aylmer-Eth N/A N/A N/A N/A N/A<br>
</u></div>
<div><u>Sarn-Eth N/A N/A 1.75N/A N/A<br>
</u></div>
<div><u>London-Ing N/A N/A 1.95N/A 1.30 5.16 202.94<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 N/A N/A 1.40 5.26 206.88<br>
</u></div>
<div><u>W O Feed 2.01 5.86 230.86<br>
</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 2.31 6.16 242.51<br>
</u></div>
<div><u>Toledo El. 0.27 4.12 162.12 -0.27 3.59 141.21<br>
</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER<br>
</u></div>
<div><u>Pt. Colb 1.60 5.45 214.56 1.15 5.01 197.04<br>
</u></div>
<div><u>Prescott 2.05 5.90 232.27 1.50 5.36210 4/5<br>
</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>HI SD CRN 1.40 5.25<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 1.3399 up 0.0018<br>
</u></div>
<div><u>Chicago soybeans closed mixed.<br>
</u></div>
<div><u><br>
</u></div>
<div><u> MAY20 HI 9.11 NOV20 HI 9.23 3/4<br>
</u></div>
<div><u> LOW 9.03 1/2 LOW 9.16<br>
</u></div>
<div><u> CLOSE9.07 1/4 Up 3 3/4 CLOSE 9.17 1/2 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 +MAY2+MAY2+JUL20<br>
</u></div>
<div><u>CK Low 2.55 11.62 427.052.35 11.53 423.47<br>
</u></div>
<div><u>CK High 2.65 11.72 430.732.40 11.58 425.31<br>
</u></div>
<div><u>CK Average 2.58 -0.3711.66 428.282.38 -0.5611.55 424.45<br>
</u></div>
<div><u>Essex Cty 2.65 11.72 430.732.40 11.58 425.31<br>
</u></div>
<div><u>Mdsx Low 2.55 11.62 427.052.34 11.52 423.10<br>
</u></div>
<div><u>Mdsx High 2.56 11.63 427.422.35 11.53 423.47<br>
</u></div>
<div><u>Mdsx Average 2.56 -0.3911.63 427.242.35 -0.5811.52 423.29<br>
</u></div>
<div><u>Hensall 2.55 11.62 427.052.35 11.53 423.47<br>
</u></div>
<div><u>Bruce 2.55 11.62 427.052.35 11.53 423.47<br>
</u></div>
<div><u>Putnam 2.55 11.62 427.052.35 11.53 423.47<br>
</u></div>
<div><u>Burford 2.63 11.70 429.992.41 11.59 425.68<br>
</u></div>
<div><u>Port Perry 2.55 11.62 427.052.33 11.51 422.74<br>
</u></div>
<div><u>Norfolk 2.65 11.72 430.732.40 11.58 425.31<br>
</u></div>
<div><u>Palmerston 2.62 11.69 429.632.41 11.59 425.68<br>
</u></div>
<div><u>Varna 2.55 11.62 427.052.35 11.53 423.47<br>
</u></div>
<div><u>Trenton 2.60 11.67 428.892.40 11.58 425.31<br>
</u></div>
<div><u>Winchester 2.55 11.62 427.052.50 11.68 428.98<br>
</u></div>
<div><u>North Gower 2.48 11.55 424.482.36 11.54 423.84<br>
</u></div>
<div><u>Huron FOB 2.75 11.82 434.402.35 11.53 423.47<br>
</u></div>
<div><u>Kent FOB 2.75 11.82 434.402.35 11.53 423.47<br>
</u></div>
<div><u>Lambton FOB 2.75 11.82 434.402.50 11.68 428.98<br>
</u></div>
<div><u>Middlesex FOB2.75 2.75 N/A N/A 11.82 434.402.46 11.64 427.51<br>
</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS<br>
</u></div>
<div><u>Windsor 3.15 12.22 449.102.65 11.83 434.49<br>
</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER<br>
</u></div>
<div><u>Hamilton 3.10 12.17 447.262.85 12.03 441.84<br>
</u></div>
<div><u>Prescott N/A 2.60 11.78 432.66<br>
</u></div>
<div><u>Port Colborne3.03 12.10 444.692.87 12.05 442.58<br>
</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 0.04 9.11 334.83-0.40 8.77 322.35<br>
</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.3399 up 0.0018<br>
</u></div>
<div><u>Chicago wheat closed slightly to moderately lower.<br>
</u></div>
<div><u>MAY20 HI 5.26 1/4 JUL20 HI 5.26 3/4<br>
</u></div>
<div><u> LOW 5.16 3/4 LOW 5.18<br>
</u></div>
<div><u> CLOSE 5.18 1/4 Down 9 CLOSE 5.19 1/2 Down 8<br>
</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly lower.<br>
</u></div>
<div><u>MAY20 HI 5.34 3/4 SEP20 HI 5.55<br>
</u></div>
<div><u> LOW 5.28 LOW 5.46 3/4<br>
</u></div>
<div><u> CLOSE 5.29 1/4 Down 4 3/4 CLOSE 5.48 Down 4 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 2.03 2.23 2.03 1.40<br>
</u></div>
<div><u>CAD $/bu 7.21 7.41 7.21 6.69<br>
</u></div>
<div><u>CAD $/tonne 265.00 272.39 265.00 245.80<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 1.30 N/A<br>
</u></div>
<div><u>London 1.89 2.16 1.75 N/A 1.42 1.69 1.22 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 1.90 2.10 1.90 1.85 1.45 1.65 1.25 1.25<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 1.85 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 2.30 1.90 1.87 N/A 1.66 1.26 1.26<br>
</u></div>
<div><u>Varna 1.95 2.10 1.85 N/A 1.45 1.65 1.25 N/A<br>
</u></div>
<div><u>Mitchell 1.85 2.10 1.85 N/A 1.45 1.60 1.25 N/A<br>
</u></div>
<div><u>Thornton N/A N/A N/A 1.72 N/A N/A N/A N/A<br>
</u></div>
<div><u>North Gower N/A 2.02 1.87 0.95 N/A 1.82 1.57 0.95<br>
</u></div>
<div><u>W O Feed 2.43<br>
</u></div>
<div><u><br>
</u></div>
<div><u>TERMINAL<br>
</u></div>
<div><u>Port Colbor N/A N/A 2.22 N/A N/A N/A 1.62 N/A<br>
</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS<br>
</u></div>
<div><u>Toledo FM N/A N/A 2.10 N/A N/A N/A 1.90 N/A<br>
</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 5.33US 7.15CA 5.30US 7.10CA<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 1.57 1.84 1.57 1.13<br>
</u></div>
<div><u>CAD $/bu 6.76 7.03 6.76 6.61<br>
</u></div>
<div><u>CAD $/tonne 248.49 258.34 248.49 242.82<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 481.61<br>
</u></div>
<div><u>DDG's FOB Srn & Aylm 230.00 - 235.00 <br>
</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div>Ontario Grain Market Commentary for March 4, 2020</div>
<div>By Todd Austin, Grain Farmers of Ontario</div>
<div><br>
</div>
<div>
<div>Wednesday, March 4, 2020<br>
</div>
<div>COMMODITY PERIOD PRICE WEEKLY MOVEMENT<br>
</div>
<div>Corn CBOT May 3.85 ¡è 10¨ö cents<br>
</div>
<div>Soybeans CBOT May 9.07¨ù ¡è 15¨ù cents<br>
</div>
<div>Wheat CBOT May 5.18¨ù ¡é 17¨ö cents<br>
</div>
<div>Wheat Minn. May 5.29¨ù ¡é ¨ú cent<br>
</div>
<div>Wheat Kansas May 4.53¨ù ¡é 6 cents<br>
</div>
<div>Oats CBOT May 2.70¨ú ¡é 15 cents<br>
</div>
<div><br>
</div>
<div>Canadian $ Mar 0.7464 ¡é 48 points<br>
</div>
<div><br>
</div>
<div><br>
</div>
<div>CORN: <br>
</div>
<div>Corn planting in the state of Mato Grosso, Brazil was at 92% as of the end of February, 2020. This is well above the five-year average of 88 per cent. It is expected that 12.6 million acres will be planted. This figure is an increase of 5% from last year.
Corn production in this state is estimated to be 32.4 million tonnes. </div>
<div>Corn consumption is likely to increase to 5.8 million tonnes in Peru this year. Peru¡¯s poultry industry continues to grow, which in turn increases feed usage. In order to meet this feed demand, corn imports are expected to be 3.9 million tonnes.<br>
</div>
<div><br>
</div>
<div>SOYBEANS: <br>
</div>
<div>As of the end of February, 2020, Brazil has sold 1.3 million tonnes of soybeans. One million tonnes are from the 2019/2020 harvest and 300,000 tonnes are for the 2020/2021 harvest. It is expected that Brazil may export up to 10 million tonnes of soybeans
throughout the month of March, with 60% of this destined for China.<br>
</div>
<div>Brazilian harvest is approximately 43% complete as harvest progresses in some of the drier areas of Brazil. Last year, harvest was 56% complete by this time.<br>
</div>
<div>In Argentina, the government has suspended any new export registrations. The government is looking to increase commodity export taxes on soybeans from 30% to 33% in an effort to increase revenue ahead of a planned sovereign bond restructuring.<br>
</div>
<div><br>
</div>
<div>WHEAT:<br>
</div>
<div>World wheat production is expected to increase to 766 million tonnes in 2020/2021. World consumption is likely to increase as well. Global production has outpaced consumption in recent years, resulting in significant inventories and lower grain prices.<br>
</div>
<div>The Ukraine has exported 16 million tonnes of wheat in the first half of the 2019/2020 marketing year. The main buyers were Indonesia, Turkey, and China.<br>
</div>
<div>During the past February, (2020) French soft wheat shipments outside of the EU totaled 1.46 million tonnes. This represents the largest February shipment volume in over a decade. Of this volume 122,000 tonnes were shipped to China. Other export destinations
included Algeria and Morocco.<br>
</div>
<div><br>
</div>
<div>2019 cash prices for March 4, 2020, at the market close, are as follows:<br>
</div>
<div><br>
</div>
<div>SWW at $264.98/mt ($7.21/bu), HRW at $272.36/mt ($7.41/bu), <br>
</div>
<div>HRS at $245.78/mt ($6.69/bu), and SRW at $264.98/mt ($7.21/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>
<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>
</div>
</body>
</html>