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<span><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, March 18<br>
</u></span>
<div><u>(All Bases in CAD)<br>
</u></div>
<div><u>Exchange rate was 1.4504 up 0.0315<br>
</u></div>
<div><u>Chicago corn closed moderately lower to lower.<br>
</u></div>
<div><u><br>
</u></div>
<div><u> MAY20 HI 3.45 1/4 DEC20 HI 3.63 1/4<br>
</u></div>
<div><u> LOW 3.32 LOW 3.55 1/4<br>
</u></div>
<div><u> CLOSE3.35 1/4 Down 8 3/4 CLOSE 3.57 3/4 Down 4 3/4<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 +MAY20+JUL20+JUL20<br>
</u></div>
<div><u>CK Low 1.45 4.80 189.07 0.95 4.53 178.24<br>
</u></div>
<div><u>CK High 1.55 4.90 193.00 1.00 4.58 180.21<br>
</u></div>
<div><u>CK Avg 1.48 -0.02 4.83 190.05 0.96 -0.45 4.54 178.57<br>
</u></div>
<div><u>Essex Cty 1.45 4.80 189.07 0.95 4.53 178.24<br>
</u></div>
<div><u>Mdsx Low 1.45 4.80 189.07 0.95 4.53 178.24<br>
</u></div>
<div><u>Mdsx High 1.45 4.80 189.07 0.95 4.53 178.24<br>
</u></div>
<div><u>Mdsx Avg 1.45 -0.04 4.80 189.07 0.95 -0.46 4.53 178.24<br>
</u></div>
<div><u>Hensall 1.48 4.83 190.05 1.00 4.58 180.21<br>
</u></div>
<div><u>Bruce 1.45 4.80 189.07 0.95 4.53 178.24<br>
</u></div>
<div><u>Putnam 1.45 4.80 189.07 0.95 4.53 178.24<br>
</u></div>
<div><u>Burford 1.50 4.85 191.03 0.95 4.53 178.24<br>
</u></div>
<div><u>Port Perry 1.50 4.85 191.03 1.00 4.58 180.21<br>
</u></div>
<div><u>Norfolk 1.45 4.80 189.07 0.95 4.53 178.24<br>
</u></div>
<div><u>Palmerston 1.68 5.03 198.12 1.28 4.86 191.23<br>
</u></div>
<div><u>Varna 1.55 4.90 193.00 1.00 4.58 180.21<br>
</u></div>
<div><u>Trenton 1.65 5.00 196.94 1.15 4.73 186.11<br>
</u></div>
<div><u>Winchester 1.63 4.98 196.15 1.50 5.08 199.89<br>
</u></div>
<div><u>North Gower 1.54 4.89 192.61 1.44 5.02 197.53<br>
</u></div>
<div><u>Huron FOB 1.65 5.00 196.94 1.05 4.63 182.18<br>
</u></div>
<div><u>Kent FOB 1.75 5.10 200.88 1.00 4.58 180.21<br>
</u></div>
<div><u>Lamb FOB 1.80 5.15 202.84 1.10 4.68 184.15<br>
</u></div>
<div><u>Mdsx FOB 1.70 1.70N/A N/A 5.05 198.91 1.10 4.68 184.15<br>
</u></div>
<div><u>FOB SW Que 2.41 5.76 226.86N/A<br>
</u></div>
<div><u>Track 2.07 5.42 213.28N/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 N/A<br>
</u></div>
<div><u>Aylmer-Eth N/A N/A N/A N/A 1.30 4.88 192.02<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 N/A<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 N/A<br>
</u></div>
<div><u>W O Feed 2.31 5.66 222.92<br>
</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 2.54 5.89 231.98<br>
</u></div>
<div><u>Toledo El. -0.07 3.28 129.13 -0.29 3.29 129.42<br>
</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER<br>
</u></div>
<div><u>Pt. Colb 1.50 4.85 191.03 1.10 4.68 184.15<br>
</u></div>
<div><u>Prescott 2.20 5.55 218.59 1.50 5.08199 8/9<br>
</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>HI SD CRN 1.55 4.90 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 1.4504 up 0.0315<br>
</u></div>
<div><u>Chicago soybeans closed narrowly mixed.<br>
</u></div>
<div><u><br>
</u></div>
<div><u> MAY20 HI 8.38 1/2 NOV20 HI 8.55<br>
</u></div>
<div><u> LOW 8.22 1/4 LOW 8.36 3/4<br>
</u></div>
<div><u> CLOSE8.25 1/2 Up 1 1/4 CLOSE 8.42 Down 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 3.10 11.36 417.222.90 11.32 415.94<br>
</u></div>
<div><u>CK High 3.25 11.51 422.743.05 11.47 421.45<br>
</u></div>
<div><u>CK Average 3.19 -0.3711.44 420.352.97 -0.5711.39 418.57<br>
</u></div>
<div><u>Essex Cty 3.25 11.51 422.743.05 11.47 421.45<br>
</u></div>
<div><u>Mdsx Low 3.12 11.38 417.962.96 11.38 418.14<br>
</u></div>
<div><u>Mdsx High 3.25 11.51 422.743.00 11.42 419.61<br>
</u></div>
<div><u>Mdsx Average 3.19 -0.3711.44 420.352.98 -0.5611.40 418.88<br>
</u></div>
<div><u>Hensall 3.18 11.43 419.982.95 11.37 417.78<br>
</u></div>
<div><u>Bruce 3.10 11.36 417.222.90 11.32 415.94<br>
</u></div>
<div><u>Putnam 3.25 11.51 422.743.00 11.42 419.61<br>
</u></div>
<div><u>Burford 3.19 11.45 420.533.03 11.45 420.72<br>
</u></div>
<div><u>Port Perry 3.11 11.37 417.592.95 11.37 417.78<br>
</u></div>
<div><u>Norfolk 3.25 11.51 422.743.05 11.47 421.45<br>
</u></div>
<div><u>Palmerston 3.27 11.53 423.473.08 11.50 422.55<br>
</u></div>
<div><u>Varna 2.90 11.16 409.882.70 11.12 408.59<br>
</u></div>
<div><u>Trenton 3.20 11.46 420.902.95 11.37 417.78<br>
</u></div>
<div><u>Winchester 2.90 11.16 409.882.80 11.22 412.26<br>
</u></div>
<div><u>North Gower 2.83 11.09 407.302.65 11.07 406.75<br>
</u></div>
<div><u>Huron FOB 3.30 11.56 424.573.00 11.42 419.61<br>
</u></div>
<div><u>Kent FOB 3.40 11.66 428.252.95 11.37 417.78<br>
</u></div>
<div><u>Lambton FOB 3.30 11.56 424.573.10 11.52 423.29<br>
</u></div>
<div><u>Middlesex FOB3.31 3.31 N/A N/A 11.57 424.943.04 11.46 421.08<br>
</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS<br>
</u></div>
<div><u>Windsor 3.76 12.02 441.483.32 11.74 431.37<br>
</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER<br>
</u></div>
<div><u>Hamilton 3.90 12.16 446.623.50 11.92 437.99<br>
</u></div>
<div><u>Prescott N/A 2.85 11.27 414.10<br>
</u></div>
<div><u>Port Colborne3.58 11.84 434.863.48 11.90 437.25<br>
</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 0.04 8.30 304.92-0.44 7.98 293.39<br>
</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.4504 up 0.0315<br>
</u></div>
<div><u>Chicago wheat closed slightly to moderately higher.<br>
</u></div>
<div><u>MAY20 HI 5.12 JUL20 HI 5.12<br>
</u></div>
<div><u> LOW 4.94 1/2 LOW 4.95 1/2<br>
</u></div>
<div><u> CLOSE 5.08 1/4 Up 9 CLOSE 5.08 1/2 Up 8 1/2<br>
</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly lower to steady.<br>
</u></div>
<div><u>MAY20 HI 5.16 1/2 SEP20 HI 5.34 1/4<br>
</u></div>
<div><u> LOW 5.05 LOW 5.25<br>
</u></div>
<div><u> CLOSE 5.09 1/4 Unchanged CLOSE 5.27 1/4 Down 1 1/4<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 2.58 2.80 2.58 1.86<br>
</u></div>
<div><u>CAD $/bu 7.66 7.88 7.66 6.95<br>
</u></div>
<div><u>CAD $/tonne 281.53 289.52 281.53 255.41<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 1.55 N/A<br>
</u></div>
<div><u>London 2.37 2.66 2.23 N/A 1.87 2.16 1.65 N/A<br>
</u></div>
<div><u>Hensall 2.05 N/A 2.05 N/A 1.65 N/A 1.45 N/A<br>
</u></div>
<div><u>Trenton N/A N/A N/A N/A N/A N/A 1.45 N/A<br>
</u></div>
<div><u>Bruce 2.05 2.20 2.05 1.95 1.65 1.80 1.50 1.40<br>
</u></div>
<div><u>Essex N/A N/A 2.20 N/A N/A N/A 1.65 N/A<br>
</u></div>
<div><u>Norwich 2.05 N/A 2.05 N/A 1.65 N/A 1.45 N/A<br>
</u></div>
<div><u>Port Hope N/A N/A 2.05 N/A N/A N/A 1.45 N/A<br>
</u></div>
<div><u>Kent Bridge 2.05 N/A 2.05 N/A 1.65 N/A 1.45 N/A<br>
</u></div>
<div><u>Chatham N/A N/A 2.20 N/A N/A N/A 1.65 N/A<br>
</u></div>
<div><u>Brigden N/A N/A 2.20 N/A N/A N/A 1.65 N/A<br>
</u></div>
<div><u>Palmerston N/A 2.92 2.48 2.41 N/A 2.14 1.76 1.76<br>
</u></div>
<div><u>Varna 2.10 2.20 2.00 N/A 1.60 1.80 1.40 N/A<br>
</u></div>
<div><u>Mitchell 2.05 2.30 2.05 N/A 1.65 1.80 1.45 N/A<br>
</u></div>
<div><u>Thornton N/A N/A N/A 2.30 N/A N/A N/A N/A<br>
</u></div>
<div><u>North Gower N/A 2.20 2.05 1.30 N/A 2.16 1.86 1.25<br>
</u></div>
<div><u>W O Feed 2.95<br>
</u></div>
<div><u><br>
</u></div>
<div><u>TERMINAL<br>
</u></div>
<div><u>Port Colbor N/A N/A 2.72 N/A N/A N/A 2.07 N/A<br>
</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS<br>
</u></div>
<div><u>Toledo FM N/A N/A 2.65 N/A N/A N/A 2.44 N/A<br>
</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 5.23US 7.59CA 5.19US 7.52CA<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 2.07 2.36 2.07 1.58<br>
</u></div>
<div><u>CAD $/bu 7.16 7.45 7.16 6.85<br>
</u></div>
<div><u>CAD $/tonne 263.01 273.67 263.01 251.68<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 522.50<br>
</u></div>
<div><u>DDG's FOB Srn & Aylm 250.00 - 255.0<br>
</u></div>
<div><u><br>
</u></div>
<div>---</div>
<div>Ontario Grain Market Commentary for March 18, 2020</div>
<div>By Todd Austin, Grain Farmers of Ontario</div>
<div><span><br>
</span>
<div><br>
</div>
<div>Wednesday, March 18, 2020<br>
</div>
<div>COMMODITY PERIOD PRICE WEEKLY MOVEMENT<br>
</div>
<div>Corn CBOT May 3.35¼ ↓ 39¼ cents<br>
</div>
<div>Soybeans CBOT May 8.25½ ↓ 47¾ cents<br>
</div>
<div>Wheat CBOT May 5.08¼ ↓ 4½ cents<br>
</div>
<div>Wheat Minn. May 5.09¼ ↓ 2¾ cents<br>
</div>
<div>Wheat Kansas May 4.46½ ↑ 11 cents<br>
</div>
<div>Oats CBOT May 2.55¼ ↓ 19¼ cents<br>
</div>
<div><br>
</div>
<div>Canadian $ Mar 0.6880 ↓ 388 points<br>
</div>
<div><br>
</div>
<div><br>
</div>
<div>CORN: <br>
</div>
<div>Corn futures have fallen to multi-month lows on worries of the Coronavirus (COVID-19) and its impact on the global economy, especially if end-user demand falls significantly. U.S. corn exports hit a nine-month high in February, although annual shipments
could still fall short of expectations if the economy slows. The February to August time frame tends to have a larger volume of exports versus the rest of the marketing year. <br>
</div>
<div><br>
</div>
<div>SOYBEANS: <br>
</div>
<div>Soybean futures have also been hit hard in recent weeks due to fear of the Coronavirus coupled with the lack of Chinese buying of U.S. soybeans, as well as large soybean crops expected from both Argentina and Brazil.<br>
</div>
<div>As the Brazilian currency continues to weaken relative to the U.S. dollar, Brazilian farmers are selling their soybeans due to high domestic prices. According to analysts, farmers have sold 70% of their 2019/2020 soybean production and 10-15% of their
2020/2021 production.<br>
</div>
<div><br>
</div>
<div>WHEAT:<br>
</div>
<div>Wheat futures also have fallen to levels that may spark bargain buying. Recent export data indicate that there is still global demand to fulfill. USDA weekly export inspections showed wheat exports at 450,000 tonnes. This was within trade estimates of
300,000 – 600,000 tonnes. European Union (EU) soft wheat exports outside of the EU were up 600,000 tonnes from the previous month. The higher export number was due to increased trade to Turkey. Wheat exports to Egypt, on the other hand, are expected to fall
due to increased competition from the Black Sea region, as the Euro has recently made gains value relative to the U.S. dollar.<br>
</div>
<div><br>
</div>
<div>2019 cash prices for March 18, 2020, at the market close, are as follows:<br>
</div>
<div><br>
</div>
<div>SWW at $282.12/mt ($7.69/bu), HRW at $290.13/mt ($7.90 /bu), <br>
</div>
<div>HRS at $ 255.95/mt ($6.97/bu), and SRW at $282.12 /mt ($7.68 /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>
<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>
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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>
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