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<span><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, April 1<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 1.4222 up 0.0137<br>
</u></div>
<div><u>Chicago corn closed moderately lower to lower.<br>
</u></div>
<div><u><br>
</u></div>
<div><u> MAY20 HI 3.42 3/4 DEC20 HI 3.58 3/4<br>
</u></div>
<div><u> LOW 3.33 1/2 LOW 3.47<br>
</u></div>
<div><u> CLOSE3.34 3/4 Down 6 CLOSE 3.47 1/4 Down 10 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 +JUL20+JUL20+SEP20<br>
</u></div>
<div><u>CK Low 1.35 4.70 184.93 0.90 4.37 172.14<br>
</u></div>
<div><u>CK High 1.40 4.75 186.90 0.95 4.42 174.11<br>
</u></div>
<div><u>CK Avg 1.38 -0.02 4.73 186.24 0.94 -0.37 4.41 173.78<br>
</u></div>
<div><u>Essex Cty 1.35 4.70 184.93 0.90 4.37 172.14<br>
</u></div>
<div><u>Mdsx Low 1.35 4.70 184.93 0.95 4.42 174.11<br>
</u></div>
<div><u>Mdsx High 1.40 4.75 186.90 0.95 4.42 174.11<br>
</u></div>
<div><u>Mdsx Avg 1.38 -0.03 4.72 185.92 0.95 -0.36 4.42 174.11<br>
</u></div>
<div><u>Hensall 1.43 4.77 187.89 0.95 4.42 174.11<br>
</u></div>
<div><u>Bruce 1.35 4.70 184.93 0.95 4.42 174.11<br>
</u></div>
<div><u>Putnam 1.40 4.75 186.90 0.95 4.42 174.11<br>
</u></div>
<div><u>Burford 1.35 4.70 184.93 0.95 4.42 174.11<br>
</u></div>
<div><u>Port Perry 1.40 4.75 186.90 1.05 4.52 178.04<br>
</u></div>
<div><u>Norfolk 1.35 4.70 184.93 0.90 4.37 172.14<br>
</u></div>
<div><u>Palmerston 1.34 4.69 184.54 0.89 4.36 171.74<br>
</u></div>
<div><u>Varna 1.40 4.75 186.90 0.90 4.37 172.14<br>
</u></div>
<div><u>Trenton 1.45 4.80 188.87 1.15 4.62 181.98<br>
</u></div>
<div><u>Winchester 1.50 4.85 190.84 1.40 4.87 191.82<br>
</u></div>
<div><u>North Gower 1.50 4.85 190.84 1.42 4.89 192.61<br>
</u></div>
<div><u>Vankleek Hil 1.22 4.57 179.81 0.88 4.35 171.35<br>
</u></div>
<div><u>Huron FOB 1.42 4.77 187.69 1.00 4.47 176.07<br>
</u></div>
<div><u>Kent FOB 1.45 4.80 188.87 1.00 4.47 176.07<br>
</u></div>
<div><u>Lamb FOB N/A 1.00 4.47 176.07<br>
</u></div>
<div><u>Mdsx FOB N/A N/A N/A N/A 1.05 4.52 178.04<br>
</u></div>
<div><u>FOB SW Que 2.51 5.86 230.60N/A<br>
</u></div>
<div><u>Track 1.72 5.06 199.30N/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 1.20 4.67 183.95<br>
</u></div>
<div><u>Sarn-Eth N/A N/A N/A N/A N/A<br>
</u></div>
<div><u>London-Ing N/A N/A N/A N/A 1.30 4.77 187.89<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 4.87 191.82<br>
</u></div>
<div><u>W O Feed 1.99 5.34 210.05<br>
</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 2.08 5.43 213.67<br>
</u></div>
<div><u>Toledo El. -0.07 3.28 128.99 -0.28 3.19 125.52<br>
</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER<br>
</u></div>
<div><u>Pt. Colb 1.50 4.85 190.84 1.10 4.57180<br>
</u></div>
<div><u>Prescott 2.00 5.35 210.52 1.42 4.89192 3/5<br>
</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>HI SD CRN 1.40 4.74 3/4<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 1.4222 up 0.0137<br>
</u></div>
<div><u>Chicago soybeans closed slightly lower to lower.<br>
</u></div>
<div><u><br>
</u></div>
<div><u> MAY20 HI 8.87 1/4 NOV20 HI 8.78 1/2<br>
</u></div>
<div><u> LOW 8.60 3/4 LOW 8.61<br>
</u></div>
<div><u> CLOSE8.62 3/4 Down 23 1/4 CLOSE 8.63 1/2 Down 14<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+JUL2+SEP20<br>
</u></div>
<div><u>CK Low 3.00 11.63 427.242.95 11.59 425.68<br>
</u></div>
<div><u>CK High 3.10 11.73 430.913.00 11.64 427.51<br>
</u></div>
<div><u>CK Average 3.08 -0.4011.71 430.122.99 -0.4511.63 427.21<br>
</u></div>
<div><u>Essex Cty 3.00 11.63 427.242.90 11.54 423.84<br>
</u></div>
<div><u>Mdsx Low 3.05 11.68 429.072.95 11.59 425.68<br>
</u></div>
<div><u>Mdsx High 3.10 11.73 430.913.00 11.64 427.51<br>
</u></div>
<div><u>Mdsx Average 3.08 -0.4011.70 429.992.98 -0.4711.61 426.59<br>
</u></div>
<div><u>Hensall 3.10 11.73 430.913.00 11.64 427.51<br>
</u></div>
<div><u>Bruce 3.10 11.73 430.913.00 11.64 427.51<br>
</u></div>
<div><u>Putnam 3.10 11.73 430.913.00 11.64 427.51<br>
</u></div>
<div><u>Burford 3.12 11.75 431.653.05 11.69 429.35<br>
</u></div>
<div><u>Port Perry 3.04 11.67 428.712.97 11.61 426.41<br>
</u></div>
<div><u>Norfolk 3.00 11.63 427.242.95 11.59 425.68<br>
</u></div>
<div><u>Palmerston 2.95 11.58 425.402.85 11.49 422.00<br>
</u></div>
<div><u>Varna 3.10 11.73 430.913.00 11.64 427.51<br>
</u></div>
<div><u>Trenton 3.15 11.78 432.753.05 11.69 429.35<br>
</u></div>
<div><u>Winchester 3.10 11.73 430.913.00 11.64 427.51<br>
</u></div>
<div><u>North Gower 3.05 11.68 429.072.85 11.49 422.00<br>
</u></div>
<div><u>Vankleek Hill N/A 2.93 11.57 424.94<br>
</u></div>
<div><u>Huron FOB 3.25 11.88 436.423.10 11.74 431.19<br>
</u></div>
<div><u>Kent FOB 3.20 11.83 434.593.00 11.64 427.51<br>
</u></div>
<div><u>Lambton FOB 3.15 11.78 432.753.00 11.64 427.51<br>
</u></div>
<div><u>Middlesex FOB3.16 3.33 N/A N/A 11.79 433.123.05 11.69 429.35<br>
</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS<br>
</u></div>
<div><u>Windsor 3.44 12.07 443.403.15 11.79 433.02<br>
</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER<br>
</u></div>
<div><u>Hamilton 3.55 12.18 447.453.45 12.09 444.05<br>
</u></div>
<div><u>Prescott N/A 3.10 11.74 431.19<br>
</u></div>
<div><u>Port Colborne3.43 12.06 443.043.46 12.10 444.42<br>
</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 0.04 8.67 318.57-0.43 8.21 301.62<br>
</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.4222 up 0.0137<br>
</u></div>
<div><u>Chicago wheat closed lower.<br>
</u></div>
<div><u>MAY20 HI 5.71 3/4 SEP20 HI 5.69<br>
</u></div>
<div><u> LOW 5.46 1/2 LOW 5.47 3/4<br>
</u></div>
<div><u> CLOSE 5.50 1/4 Down 18 1/2 CLOSE 5.51 1/4 Down 14<br>
</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed lower.<br>
</u></div>
<div><u>MAY20 HI 5.39 1/4 SEP20 HI 5.56<br>
</u></div>
<div><u> LOW 5.23 LOW 5.42<br>
</u></div>
<div><u> CLOSE 5.24 1/2 Down 14 3/4 CLOSE 5.43 1/2 Down 13 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 2.54 2.75 2.54 1.72<br>
</u></div>
<div><u>CAD $/bu 8.04 8.25 8.04 6.96<br>
</u></div>
<div><u>CAD $/tonne 295.38 303.21 295.38 255.79<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 1.62 N/A<br>
</u></div>
<div><u>London 2.38 2.81 2.31 N/A 1.98 2.27 1.70 N/A<br>
</u></div>
<div><u>Hensall 2.22 N/A 2.22 N/A 1.82 N/A 1.62 N/A<br>
</u></div>
<div><u>Trenton N/A N/A N/A N/A N/A N/A 1.72 N/A<br>
</u></div>
<div><u>Bruce 2.22 2.57 2.22 2.20 1.82 2.02 1.62 1.40<br>
</u></div>
<div><u>Essex N/A N/A N/A N/A N/A N/A 1.67 N/A<br>
</u></div>
<div><u>Norwich 2.22 N/A 2.22 N/A 1.82 N/A 1.62 N/A<br>
</u></div>
<div><u>Port Hope N/A N/A 2.25 N/A N/A N/A 1.72 N/A<br>
</u></div>
<div><u>Kent Bridge 2.22 N/A 2.22 N/A 1.82 N/A 1.62 N/A<br>
</u></div>
<div><u>Chatham N/A N/A N/A N/A N/A N/A 1.67 N/A<br>
</u></div>
<div><u>Brigden N/A N/A N/A N/A N/A N/A 1.67 N/A<br>
</u></div>
<div><u>Palmerston N/A 2.52 2.16 2.00 N/A 2.03 1.60 1.37<br>
</u></div>
<div><u>Varna 2.35 2.65 2.25 N/A 1.82 2.02 1.62 N/A<br>
</u></div>
<div><u>Mitchell 2.22 2.42 2.22 N/A 1.82 2.02 1.62 N/A<br>
</u></div>
<div><u>Thornton N/A N/A N/A 2.72 N/A N/A N/A N/A<br>
</u></div>
<div><u>North Gower N/A 2.40 2.20 1.50 N/A 2.05 1.85 1.35<br>
</u></div>
<div><u>W O Feed 2.85<br>
</u></div>
<div><u><br>
</u></div>
<div><u>TERMINAL<br>
</u></div>
<div><u>Port Colbor N/A N/A 2.65 N/A N/A N/A 2.11 N/A<br>
</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS<br>
</u></div>
<div><u>Toledo FM N/A N/A 2.32 N/A N/A N/A 2.28 N/A<br>
</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 5.40US 7.68CA 5.48US 7.79CA<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 1.97 2.32 1.97 1.44<br>
</u></div>
<div><u>CAD $/bu 7.48 7.83 7.48 6.87<br>
</u></div>
<div><u>CAD $/tonne 274.82 287.88 274.82 252.50<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 535.62<br>
</u></div>
<div><u>DDG's FOB Srn & Aylm -<br>
</u></div>
<u><span></span></u><br>
</div>
<div style="font-family: "Courier New", monospace; font-size: 10pt; color: rgb(0, 0, 0);">
---</div>
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<br>
</div>
<div style="font-family: "Courier New", monospace; font-size: 10pt; color: rgb(0, 0, 0);">
Ontario Grain Market Commentary for April 1, 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, April 1, 2020<br>
</div>
<div>COMMODITY PERIOD PRICE WEEKLY MOVEMENT<br>
</div>
<div>Corn CBOT May 3.34取 ⊿ 13取 cents<br>
</div>
<div>Soybeans CBOT May 8.62取 ⊿ 18取 cents<br>
</div>
<div>Wheat CBOT May 5.50卹 ⊿ 29取 cents<br>
</div>
<div>Wheat Minn. May 5.24卦 ⊿ 13 cents<br>
</div>
<div>Wheat Kansas May 4.75 ⊿ 26 cents<br>
</div>
<div>Oats CBOT May 2.60卹 ⊿ 5取 cents<br>
</div>
<div><br>
</div>
<div>Canadian $ Mar 0.7029 ⊿ 19 points<br>
</div>
<div><br>
</div>
<div><br>
</div>
<div>CORN: <br>
</div>
<div>The USDA released their Prospective Planting Report at the end of March. The projection for 2020 corn planting is 97 million acres. The trade was anticipating acreage to be 94.3 million. This planting projection would be an increase of over 7 million acres
from last year. The USDA surveyed farmers during the first two weeks of March.<br>
</div>
<div>Oil prices have hit 18-year lows and gasoline demand both here and in the U.S. have also fallen. Ethanol demand is likewise falling on both sides of the border. This could result in a large U.S. corn carryout for the 2020/2021 marketing year.<br>
</div>
<div><br>
</div>
<div>SOYBEANS: <br>
</div>
<div>The USDA has pegged 2020 soybean acres at 83.5 million as outlined in their Prospective Planting Report. This was slightly lower than trade estimates of 84.9 million acres. Like corn, the 2020 soybean acreage is much larger than what was planted in 2019.
It is hoped that the soybean export market, particularly China, strengthens, or we could see U.S. soybean carryout creeping up to levels that could negatively impact soybean values.<br>
</div>
<div>Brazilian soybean production estimates have been revised down due to extended dry weather in the southern regions of Brazil. According to the agricultural consultancy Agroconsult, estimates are down 0.8 million tonnes to 123.5 million tonnes for the 2019/2020
soybean crop.<br>
</div>
<div><br>
</div>
<div>WHEAT:<br>
</div>
<div>All wheat planted in the U.S. is expected be down 1% from the previous year. The USDA is anticipating 44.655 million acres of wheat for the 2020/2021 marketing year. U.S. soft white wheat production is expected to be 192.305 million bushels (3.5 million
tonnes) which is down 9% from last year. U.S. soft Red Wheat is estimated to be 284.806 million bushels (7.75 million tonnes) which is up 19% from 2019.<br>
</div>
<div>Ukraine grade traders have agreed to limit wheat exports to 20.2 million tonnes this year in an effort to avoid a rise in domestic bread prices. This is a result of the ongoing Coronavirus pandemic which is causing some countries to consider export / import
restrictions on grain trade. The Ukraine has exported approximately 18 million tonnes to date.<br>
</div>
<div><br>
</div>
<div>2019 cash prices for April 1, 2020, at the market close, are as follows:<br>
</div>
<div><br>
</div>
<div>SWW at $295.49/mt ($8.04/bu), HRW at $303.33/mt ($8.26 /bu), <br>
</div>
<div>HRS at $ 255.89/mt ($6.96/bu), and SRW at $295.49 /mt ($8.04 /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><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>
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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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