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<span><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, March 11<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 1.3766 up 0.0017<br>
</u></div>
<div><u>Chicago corn closed slightly lower.<br>
</u></div>
<div><u><br>
</u></div>
<div><u> MAY20 HI 3.77 1/2 DEC20 HI 3.80 1/4<br>
</u></div>
<div><u> LOW 3.72 1/4 LOW 3.76<br>
</u></div>
<div><u> CLOSE3.74 1/2 Down 3 CLOSE 3.77 Down 3 1/2<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 1.50 5.25 206.49 0.95 4.72 185.82<br>
</u></div>
<div><u>CK High 1.55 5.30 208.45 1.00 4.77 187.79<br>
</u></div>
<div><u>CK Avg 1.52 0.08 5.26 207.14 0.96 -0.34 4.73 186.15<br>
</u></div>
<div><u>Essex Cty 1.55 5.30 208.45 1.00 4.77 187.79<br>
</u></div>
<div><u>Mdsx Low 1.50 5.25 206.49 0.95 4.72 185.82<br>
</u></div>
<div><u>Mdsx High 1.50 5.25 206.49 0.95 4.72 185.82<br>
</u></div>
<div><u>Mdsx Avg 1.50 0.07 5.25 206.49 0.95 -0.34 4.72 185.82<br>
</u></div>
<div><u>Hensall 1.55 5.30 208.45 1.00 4.77 187.79<br>
</u></div>
<div><u>Bruce 1.55 5.30 208.45 1.00 4.77 187.79<br>
</u></div>
<div><u>Putnam 1.50 5.25 206.49 0.95 4.72 185.82<br>
</u></div>
<div><u>Burford 1.50 5.25 206.49 0.95 4.72 185.82<br>
</u></div>
<div><u>Port Perry 1.55 5.30 208.45 1.00 4.77 187.79<br>
</u></div>
<div><u>Norfolk 1.55 5.30 208.45 1.00 4.77 187.79<br>
</u></div>
<div><u>Palmerston 1.54 5.29 208.06 1.07 4.84 190.54<br>
</u></div>
<div><u>Varna 1.55 5.30 208.45 1.00 4.77 187.79<br>
</u></div>
<div><u>Trenton 1.55 5.30 208.45 1.05 4.82 189.76<br>
</u></div>
<div><u>Winchester 1.55 5.30 208.45 1.40 5.17 203.53<br>
</u></div>
<div><u>North Gower 1.52 5.27 207.27 1.44 5.21 205.11<br>
</u></div>
<div><u>Huron FOB 1.76 5.51 216.72 1.05 4.82 189.76<br>
</u></div>
<div><u>Kent FOB 1.80 5.55 218.30 1.10 4.87 191.72<br>
</u></div>
<div><u>Lamb FOB 1.83 5.58 219.48 1.15 4.92 193.69<br>
</u></div>
<div><u>Mdsx FOB 1.70 1.70N/A N/A 5.45 214.36 1.00 4.77 187.79<br>
</u></div>
<div><u>FOB SW Que 2.15 5.90 232.08N/A<br>
</u></div>
<div><u>Track 2.01 5.75 226.37N/A<br>
</u></div>
<div><u>PROCESSORS<br>
</u></div>
<div><u>Chat-Eth N/A N/A N/A N/A 1.22 4.99 196.45<br>
</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A N/A 1.55 5.32 209.44<br>
</u></div>
<div><u>Aylmer-Eth N/A N/A 2.00N/A 1.25 5.02 197.63<br>
</u></div>
<div><u>Sarn-Eth N/A N/A 1.90N/A N/A<br>
</u></div>
<div><u>London-Ing N/A N/A N/A N/A 1.40 5.17 203.53<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 1.55 5.32 209.44<br>
</u></div>
<div><u>W O Feed 2.12 5.87 230.97<br>
</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 2.44 6.19 243.49<br>
</u></div>
<div><u>Toledo El. 0.28 4.02 158.27 -0.28 3.49 137.58<br>
</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER<br>
</u></div>
<div><u>Pt. Colb 1.60 5.35 210.42 1.20 4.97 195.66<br>
</u></div>
<div><u>Prescott 2.20 5.95 234.04 1.60 5.37211 2/5<br>
</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>HI SD CRN 1.55 5.29 1/2<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 1.3766 up 0.0017<br>
</u></div>
<div><u>Chicago soybeans closed slightly lower.<br>
</u></div>
<div><u><br>
</u></div>
<div><u> MAY20 HI 8.83 3/4 NOV20 HI 8.98<br>
</u></div>
<div><u> LOW 8.72 LOW 8.85 1/4<br>
</u></div>
<div><u> CLOSE8.73 1/4 Down 3 CLOSE 8.86 3/4 Down 4 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 2.75 11.48 421.912.55 11.42 419.52<br>
</u></div>
<div><u>CK High 2.85 11.58 425.582.60 11.47 421.36<br>
</u></div>
<div><u>CK Average 2.80 -0.3511.53 423.812.59 -0.5411.46 421.05<br>
</u></div>
<div><u>Essex Cty 2.80 11.53 423.752.60 11.47 421.36<br>
</u></div>
<div><u>Mdsx Low 2.80 11.53 423.752.58 11.45 420.62<br>
</u></div>
<div><u>Mdsx High 2.82 11.55 424.482.60 11.47 421.36<br>
</u></div>
<div><u>Mdsx Average 2.81 -0.3511.54 424.112.59 -0.5411.46 420.99<br>
</u></div>
<div><u>Hensall 2.80 11.53 423.752.60 11.47 421.36<br>
</u></div>
<div><u>Bruce 2.80 11.53 423.752.60 11.47 421.36<br>
</u></div>
<div><u>Putnam 2.80 11.53 423.752.60 11.47 421.36<br>
</u></div>
<div><u>Burford 2.89 11.62 427.052.65 11.52 423.20<br>
</u></div>
<div><u>Port Perry 2.81 11.54 424.112.57 11.44 420.26<br>
</u></div>
<div><u>Norfolk 2.80 11.53 423.752.60 11.47 421.36<br>
</u></div>
<div><u>Palmerston 2.80 11.53 423.752.58 11.45 420.62<br>
</u></div>
<div><u>Varna 2.80 11.53 423.752.60 11.47 421.36<br>
</u></div>
<div><u>Trenton 2.75 11.48 421.912.50 11.37 417.68<br>
</u></div>
<div><u>Winchester 2.75 11.48 421.912.50 11.37 417.68<br>
</u></div>
<div><u>North Gower 2.70 11.43 420.072.55 11.42 419.52<br>
</u></div>
<div><u>Huron FOB 3.00 11.73 431.102.70 11.57 425.03<br>
</u></div>
<div><u>Kent FOB 3.00 11.73 431.102.60 11.47 421.36<br>
</u></div>
<div><u>Lambton FOB 3.00 11.73 431.102.80 11.67 428.71<br>
</u></div>
<div><u>Middlesex FOB2.97 2.97 N/A N/A 11.70 429.992.66 11.53 423.56<br>
</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS<br>
</u></div>
<div><u>Windsor 3.28 12.01 441.382.85 11.72 430.54<br>
</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER<br>
</u></div>
<div><u>Hamilton 3.45 12.18 447.633.10 11.97 439.73<br>
</u></div>
<div><u>Prescott N/A 2.85 11.72 430.54<br>
</u></div>
<div><u>Port Colborne3.17 11.90 437.343.07 11.94 438.63<br>
</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 0.04 8.77 322.38-0.41 8.45 310.65<br>
</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.3766 up 0.0017<br>
</u></div>
<div><u>Chicago wheat closed moderately lower.<br>
</u></div>
<div><u>MAY20 HI 5.24 3/4 JUL20 HI 5.23 1/2<br>
</u></div>
<div><u> LOW 5.11 3/4 LOW 5.12<br>
</u></div>
<div><u> CLOSE 5.12 3/4 Down 9 1/2 CLOSE 5.13 1/4 Down 8 1/4<br>
</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed moderately lower.<br>
</u></div>
<div><u>MAY20 HI 5.22 SEP20 HI 5.39 3/4<br>
</u></div>
<div><u> LOW 5.11 1/4 LOW 5.32 1/4<br>
</u></div>
<div><u> CLOSE 5.12 Down 6 3/4 CLOSE 5.32 1/2 Down 6<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 2.21 2.41 2.21 1.52<br>
</u></div>
<div><u>CAD $/bu 7.33 7.54 7.33 6.64<br>
</u></div>
<div><u>CAD $/tonne 269.46 277.05 269.46 243.79<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 1.35 N/A<br>
</u></div>
<div><u>London 2.04 2.31 1.91 N/A 1.56 1.83 1.35 N/A<br>
</u></div>
<div><u>Hensall 1.95 N/A 1.95 N/A 1.55 N/A 1.35 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 2.00 2.20 2.00 1.95 1.60 1.80 1.40 1.40<br>
</u></div>
<div><u>Essex N/A N/A 2.00 N/A N/A N/A 1.40 N/A<br>
</u></div>
<div><u>Norwich 1.95 N/A 1.95 N/A 1.55 N/A 1.35 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 1.95 N/A 1.95 N/A 1.55 N/A 1.35 N/A<br>
</u></div>
<div><u>Chatham N/A N/A 2.00 N/A N/A N/A 1.40 N/A<br>
</u></div>
<div><u>Brigden N/A N/A 2.00 N/A N/A N/A 1.40 N/A<br>
</u></div>
<div><u>Palmerston N/A 2.47 2.06 1.99 N/A 1.81 1.40 1.38<br>
</u></div>
<div><u>Varna 2.05 2.20 1.95 N/A 1.60 1.80 1.40 N/A<br>
</u></div>
<div><u>Mitchell 1.95 2.20 1.95 N/A 1.55 1.70 1.35 N/A<br>
</u></div>
<div><u>Thornton N/A N/A N/A 1.99 N/A N/A N/A N/A<br>
</u></div>
<div><u>North Gower N/A 2.10 2.00 1.00 N/A 1.92 1.67 1.10<br>
</u></div>
<div><u>W O Feed 2.55<br>
</u></div>
<div><u><br>
</u></div>
<div><u>TERMINAL<br>
</u></div>
<div><u>Port Colbor N/A N/A 2.38 N/A N/A N/A 1.76 N/A<br>
</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS<br>
</u></div>
<div><u>Toledo FM N/A N/A 2.27 N/A N/A N/A 2.07 N/A<br>
</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 5.28US 7.26CA 5.23US 7.20CA<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 1.73 2.00 1.73 1.25<br>
</u></div>
<div><u>CAD $/bu 6.86 7.13 6.86 6.57<br>
</u></div>
<div><u>CAD $/tonne 252.03 262.15 252.03 241.54<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 480.17<br>
</u></div>
<div><u>DDG's FOB Srn & Aylm 240.00 - 250.00<br>
</u></div>
<div><u><br>
</u></div>
<div>----</div>
<div><br>
</div>
<div>Ontario Grain Market Commentary for March 11, 2020</div>
<div>By Todd Austin, Grain Farmers of Ontario</div>
<div><br>
</div>
<div>
<div><br>
</div>
<div>Wednesday, March 11, 2020<br>
</div>
<div>COMMODITY PERIOD PRICE WEEKLY MOVEMENT<br>
</div>
<div>Corn CBOT May 3.74¨ö ¡é 10¨ö cents<br>
</div>
<div>Soybeans CBOT May 8.73¨ù ¡é 34 cents<br>
</div>
<div>Wheat CBOT May 5.12¨ú ¡é 5¨ö cents<br>
</div>
<div>Wheat Minn. May 5.12 ¡é 8¨ù cents<br>
</div>
<div>Wheat Kansas May 4.35¨ö ¡é 17¨ú cents<br>
</div>
<div>Oats CBOT May 2.74¨ö ¡è 3¨ú cents<br>
</div>
<div><br>
</div>
<div>Canadian $ Mar 0.7265 ¡é 199 points<br>
</div>
<div><br>
</div>
<div><br>
</div>
<div>CORN: <br>
</div>
<div>The March 10, 2020 U.S. Department of Agriculture (USDA) report did not make any noticeable change to their U.S. corn balance sheet. The USDA has kept this crop year's ending stocks at 1.892 billion bushels. World ending stocks were up slightly from last
month and were within trade estimates.<br>
</div>
<div>Brazilian safrinha corn is 75-80% planted as the end of planting window of March 10-15 approaches. High corn prices in Brazil may encourage farmers there to plant past this window.<br>
</div>
<div><br>
</div>
<div>SOYBEANS: <br>
</div>
<div>The USDA report on March 10, 2020 showed no change to their U.S. numbers, although minor fluctuations were detected in global supply and demand positions. U.S. soybean carryout remains at 425 million bushels. Globally, the USDA has increased both Argentina
and Brazil soybean production by one million tonnes. Demand reduced slightly, and carryout stocks were increased by 3.6 million tonnes.<br>
</div>
<div>As the Brazilian soybean harvest has reached the halfway point, farmers there have sold a much larger portion of their crop than this time last year. The weaker Brazilian currency has resulted in record high domestic grain prices.<br>
</div>
<div><br>
</div>
<div>WHEAT:<br>
</div>
<div>The U.S. wheat supply and demand report showed no change this month from the report in February, 2020. Ending stocks of all wheat remained at 940 million bushels. World production was increased, although ending stocks were adjusted down from 288.03 million
tonnes to 287.14 million tonnes, a drop of 840,000 tonnes.<br>
</div>
<div>According to the USDA, total commitments of U.S. wheat for this marketing year sit at 23.18 million tonnes, while total export estimates are 27.22 million tonnes. With this volume of trade, the U.S. is the third largest exporter, after Russia and the EU.<br>
</div>
<div><br>
</div>
<div>2019 cash prices for March 11, 2020, at the market close, are as follows:<br>
</div>
<div><br>
</div>
<div>SWW at $269.45/mt ($7.33/bu), HRW at $277.04/mt ($7.54 /bu), <br>
</div>
<div>HRS at $ 243.78/mt ($6.63/bu), and SRW at $269.45 /mt ($7.33 /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>
<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>
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