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<span><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, April 15<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 1.4062 up 0.0162<br>
</u></div>
<div><u>Chicago corn closed slightly to moderately lower.<br>
</u></div>
<div><u><br>
</u></div>
<div><u> MAY20 HI 3.26 3/4 DEC20 HI 3.47 1/2<br>
</u></div>
<div><u> LOW 3.17 1/2 LOW 3.41 3/4<br>
</u></div>
<div><u> CLOSE3.19 1/4 Down 6 3/4 CLOSE 3.42 3/4 Down 3 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 +JUL20+JUL20+SEP20<br>
</u></div>
<div><u>CK Low 1.30 4.49 176.86 0.90 4.33 170.37<br>
</u></div>
<div><u>CK High 1.35 4.54 178.83 0.90 4.33 170.37<br>
</u></div>
<div><u>CK Avg 1.31 0.01 4.50 177.19 0.90 -0.36 4.33 170.37<br>
</u></div>
<div><u>Essex Cty 1.30 4.49 176.86 0.90 4.33 170.37<br>
</u></div>
<div><u>Mdsx Low 1.30 4.49 176.86 0.90 4.33 170.37<br>
</u></div>
<div><u>Mdsx High 1.30 4.49 176.86 0.90 4.33 170.37<br>
</u></div>
<div><u>Mdsx Avg 1.30 0.00 4.49 176.86 0.90 -0.36 4.33 170.37<br>
</u></div>
<div><u>Hensall 1.33 4.52 177.85 0.93 4.35 171.35<br>
</u></div>
<div><u>Bruce 1.30 4.49 176.86 0.90 4.33 170.37<br>
</u></div>
<div><u>Putnam 1.30 4.49 176.86 0.90 4.33 170.37<br>
</u></div>
<div><u>Burford 1.30 4.49 176.86 0.90 4.33 170.37<br>
</u></div>
<div><u>Port Perry 1.40 4.59 180.80 1.05 4.48 176.27<br>
</u></div>
<div><u>Norfolk 1.30 4.49 176.86 0.90 4.33 170.37<br>
</u></div>
<div><u>Palmerston 1.37 4.56 179.62 0.94 4.37 171.94<br>
</u></div>
<div><u>Varna 1.30 4.49 176.86 0.90 4.33 170.37<br>
</u></div>
<div><u>Trenton 1.40 4.59 180.80 1.05 4.48 176.27<br>
</u></div>
<div><u>Winchester 1.40 4.59 180.80 1.40 4.83 190.05<br>
</u></div>
<div><u>North Gower 1.38 4.57 180.01 1.35 4.78 188.08<br>
</u></div>
<div><u>Vankleek Hil 1.15 4.34 170.96 0.93 4.36 171.55<br>
</u></div>
<div><u>Huron FOB 1.30 4.49 176.86 0.90 4.33 170.37<br>
</u></div>
<div><u>Kent FOB N/A 0.95 4.38 172.33<br>
</u></div>
<div><u>Lamb FOB N/A 1.03 4.46 175.48<br>
</u></div>
<div><u>Mdsx FOB 1.35N/A N/A N/A 4.54 178.83 0.95 4.38 172.33<br>
</u></div>
<div><u>FOB SW Que 2.56 5.75 226.47N/A<br>
</u></div>
<div><u>Track 1.60 4.79 188.67N/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 1.15 4.58 180.21<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 1.20 4.63 182.18<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 1.95N/A 1.95 1.45 4.88 192.02<br>
</u></div>
<div><u>W O Feed 1.79 4.99 196.31<br>
</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.72 4.91 193.40<br>
</u></div>
<div><u>Toledo El. -0.14 3.05 120.15 -0.42 3.00 118.30<br>
</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER<br>
</u></div>
<div><u>Pt. Colb 1.70 4.89 192.61 1.10 4.53178 1/4<br>
</u></div>
<div><u>Prescott 1.82 5.01 197.33N/A<br>
</u></div>
<div><u><br>
</u></div>
<div><u> 1/2<br>
</u></div>
<div><u>HI SD CRN 1.35 4.54 1/4 0.90 4.32 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 1.4062 up 0.0162<br>
</u></div>
<div><u>Chicago soybeans closed slightly lower.<br>
</u></div>
<div><u><br>
</u></div>
<div><u> MAY20 HI 8.52 1/2 NOV20 HI 8.71<br>
</u></div>
<div><u> LOW 8.38 3/4 LOW 8.57 3/4<br>
</u></div>
<div><u> CLOSE8.42 Down 5 CLOSE 8.59 3/4 Down 5 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+JUL2+SEP20<br>
</u></div>
<div><u>CK Low 2.90 11.32 415.942.75 11.35 416.95<br>
</u></div>
<div><u>CK High 2.97 11.39 418.512.80 11.40 418.79<br>
</u></div>
<div><u>CK Average 2.94 -0.3411.36 417.292.79 -0.5111.39 418.48<br>
</u></div>
<div><u>Essex Cty 2.95 11.37 417.782.75 11.35 416.95<br>
</u></div>
<div><u>Mdsx Low 2.90 11.32 415.942.73 11.33 416.21<br>
</u></div>
<div><u>Mdsx High 2.95 11.37 417.782.80 11.40 418.79<br>
</u></div>
<div><u>Mdsx Average 2.93 -0.3511.35 416.862.77 -0.5311.36 417.50<br>
</u></div>
<div><u>Hensall 2.93 11.35 416.862.80 11.40 418.79<br>
</u></div>
<div><u>Bruce 2.95 11.37 417.782.80 11.40 418.79<br>
</u></div>
<div><u>Putnam 2.90 11.32 415.942.80 11.40 418.79<br>
</u></div>
<div><u>Burford 3.02 11.44 420.352.80 11.40 418.79<br>
</u></div>
<div><u>Port Perry 2.97 11.39 418.512.75 11.35 416.95<br>
</u></div>
<div><u>Norfolk 2.95 11.37 417.782.80 11.40 418.79<br>
</u></div>
<div><u>Palmerston 3.01 11.43 419.982.87 11.47 421.36<br>
</u></div>
<div><u>Varna 2.95 11.37 417.782.80 11.40 418.79<br>
</u></div>
<div><u>Trenton 2.90 11.32 415.942.75 11.35 416.95<br>
</u></div>
<div><u>Winchester 2.90 11.32 415.942.80 11.40 418.79<br>
</u></div>
<div><u>North Gower 2.85 11.27 414.102.75 11.35 416.95<br>
</u></div>
<div><u>Vankleek Hill N/A 2.79 11.39 418.42<br>
</u></div>
<div><u>Huron FOB 3.10 11.52 423.292.90 11.50 422.46<br>
</u></div>
<div><u>Kent FOB 3.00 11.42 419.612.80 11.40 418.79<br>
</u></div>
<div><u>Lambton FOB 2.90 11.32 415.942.90 11.50 422.46<br>
</u></div>
<div><u>Middlesex FOB2.97 3.11 N/A N/A 11.39 418.512.89 11.49 422.09<br>
</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS<br>
</u></div>
<div><u>Windsor 3.21 11.63 427.333.00 11.60 426.14<br>
</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER<br>
</u></div>
<div><u>Hamilton 3.35 11.77 432.473.25 11.85 435.32<br>
</u></div>
<div><u>Prescott N/A 3.32 11.92 437.89<br>
</u></div>
<div><u>Port Colborne3.31 11.73 431.003.23 11.83 434.59<br>
</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 0.04 8.46 310.93-0.42 8.17 300.38<br>
</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.4062 up 0.0162<br>
</u></div>
<div><u>Chicago wheat closed moderately lower.<br>
</u></div>
<div><u>MAY20 HI 5.48 3/4 SEP20 HI 5.55<br>
</u></div>
<div><u> LOW 5.29 3/4 LOW 5.37 1/2<br>
</u></div>
<div><u> CLOSE 5.40 1/4 Down 8 1/2 CLOSE 5.46 Down 8 3/4<br>
</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed moderately lower.<br>
</u></div>
<div><u>MAY20 HI 5.22 1/2 SEP20 HI 5.44 1/4<br>
</u></div>
<div><u> LOW 5.11 1/2 LOW 5.33 3/4<br>
</u></div>
<div><u> CLOSE 5.14 Down 7 CLOSE 5.37 1/4 Down 6 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 2.41 2.62 2.41 1.60<br>
</u></div>
<div><u>CAD $/bu 7.81 8.02 7.81 6.74<br>
</u></div>
<div><u>CAD $/tonne 286.89 294.64 286.89 247.49<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 1.50 N/A<br>
</u></div>
<div><u>London 2.15 2.43 2.08 N/A 1.75 1.89 1.47 N/A<br>
</u></div>
<div><u>Hensall 2.10 N/A 2.10 N/A 1.70 N/A 1.50 N/A<br>
</u></div>
<div><u>Trenton N/A N/A N/A N/A N/A N/A 1.55 N/A<br>
</u></div>
<div><u>Bruce 2.10 2.50 2.10 2.23 1.55 1.90 1.50 1.50<br>
</u></div>
<div><u>Essex N/A N/A 2.00 N/A N/A N/A 1.45 N/A<br>
</u></div>
<div><u>Norwich 2.10 N/A 2.10 N/A 1.70 N/A 1.50 N/A<br>
</u></div>
<div><u>Port Hope N/A N/A 2.10 N/A N/A N/A 1.55 N/A<br>
</u></div>
<div><u>Kent Bridge 2.10 N/A 2.10 N/A 1.70 N/A 1.50 N/A<br>
</u></div>
<div><u>Chatham N/A N/A N/A N/A N/A N/A 1.50 N/A<br>
</u></div>
<div><u>Brigden N/A N/A N/A N/A N/A N/A 1.50 N/A<br>
</u></div>
<div><u>Palmerston N/A 2.39 2.04 1.87 N/A 1.93 1.50 1.26<br>
</u></div>
<div><u>Varna 2.20 2.40 2.10 N/A 1.70 1.80 1.50 N/A<br>
</u></div>
<div><u>Mitchell 2.10 2.25 2.10 N/A 1.70 1.90 1.50 N/A<br>
</u></div>
<div><u>Thornton N/A N/A N/A 2.54 N/A N/A N/A N/A<br>
</u></div>
<div><u>North Gower N/A 2.25 2.00 1.30 N/A 2.00 1.65 1.20<br>
</u></div>
<div><u>W O Feed 2.66<br>
</u></div>
<div><u><br>
</u></div>
<div><u>TERMINAL<br>
</u></div>
<div><u>Port Colbor N/A N/A 2.42 N/A N/A N/A 1.88 N/A<br>
</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS<br>
</u></div>
<div><u>Toledo FM N/A N/A 2.19 N/A N/A N/A 2.16 N/A<br>
</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 5.30US 7.46CA 5.41US 7.62CA<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 1.88 2.23 1.88 1.35<br>
</u></div>
<div><u>CAD $/bu 7.34 7.69 7.34 6.72<br>
</u></div>
<div><u>CAD $/tonne 269.65 282.58 269.65 247.00<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 502.88<br>
</u></div>
<div><u>DDG's FOB Srn & Aylm -<br>
</u></div>
<div><u><br>
</u></div>
<div>---</div>
<div><br>
</div>
<div>Ontario Grain Market Commentary for April 15, 2020</div>
<div>By Todd Austin, Grain Farmers of Ontario</div>
<div><br>
</div>
<div>
<div style="text-decoration-line: underline;"><br>
</div>
<div style="">Wednesday, April 15, 2020<br>
</div>
<div style="">COMMODITY PERIOD PRICE WEEKLY MOVEMENT<br>
</div>
<div style="">Corn CBOT May 3.19¨ù ¡é 10¨ú cents<br>
</div>
<div style="">Soybeans CBOT May 8.42 ¡é 12¨ö cents<br>
</div>
<div style="">Wheat CBOT May 5.40¨ù ¡é 8 cents<br>
</div>
<div style="">Wheat Minn. May 5.14 ¡é 16 cents<br>
</div>
<div style="">Wheat Kansas May 4.79¨ö ¡è 1¨ö cents<br>
</div>
<div style="">Oats CBOT May 2.85¨ö ¡è 10 cents<br>
</div>
<div style=""><br>
</div>
<div style="">Canadian $ Mar 0.7128 ¡è 9 points<br>
</div>
<div style=""><br>
</div>
<div style=""><br>
</div>
<div style="">CORN: <br>
</div>
<div style="">On April 13, the USDA released its first 2020 Crop Progress report. U.S. farmers have planted 3% of their expected crop. This is equal to last year and 1% lower than the five-year average. The question is, will U.S. farmers plant 97 million acres
of corn? Domestic demand for feed and ethanol is declining; suppliers will need to look to export markets to move grain. Without strong exports, the U.S. could end up with a burdensome corn supply which would further depress prices.<br>
</div>
<div style="">Brazilian corn exports are down due to a rise in domestic consumption along with strong demand for livestock feed. There is talk of the need to import corn as domestic demand grows. Another attributing factor is a reduced stockpile of corn resulting
from an aggressive exports pace in 2019. Due to the devalued Brazilian currency versus the U.S. dollar, Brazil is hesitant at this time to import from the U.S. and will likely look to Argentina and Paraguay.<br>
</div>
<div style=""><br>
</div>
<div style="">SOYBEANS: <br>
</div>
<div style="">Brazil has shipped 6.3 million tonnes of soybeans in April thus far. This is a 50% increase in shipments from the previous month. With the rising demands from Chinese crushers, Brazilian exports could continue to climb. The depreciation of the
Brazilian currency over that of the U.S. has made Brazilian soybeans much lower in price for international buyers.<br>
</div>
<div style="">The closure of several U.S. meat packing plants has increased fear of reductions in soymeal demand. This has put further pressure on the soybean futures.<br>
</div>
<div style=""><br>
</div>
<div style="">WHEAT:<br>
</div>
<div style="">According to the USDA, for the week ending April 9, U.S. wheat inspected for exports was 608,709 tonnes. The majority of this is expected to be shipped through the Pacific Northwest into Asian markets. Exports are also expected out of the Gulf
coast for Latin America destinations.<br>
</div>
<div style="">Egypt has recently purchased 120,000 tonnes of Russian wheat split between two delivery windows of 60,000 tonnes each. Traders were expecting a larger purchase after the Egyptian government announced it would look to import 800,000 tonnes of grain
to boost its strategic reserves. The prices received were high enough to discourage any larger purchase. The winning bids were $249.56 C&F (cost and freight) and $252.50 C&F respectively.<br>
</div>
<div style=""><br>
</div>
<div style="">2019 cash prices for April 15, 2020, at the market close, are as follows:<br>
</div>
<div style=""><br>
</div>
<div style="">SWW at $286.22/mt ($7.79/bu), HRW at $293.95/mt ($8.00 /bu), <br>
</div>
<div style="">HRS at $ 246.91/mt ($6.72/bu), and SRW at $286.22 /mt ($7.79/bu).<br>
</div>
<div style=""><br>
</div>
<div style="">We currently offer 2020 and 2021 harvest prices as well, please call
<br>
</div>
<div style="">1-800-265-0550 for more information.<br>
</div>
<div style=""><br>
</div>
<div style="">---</div>
<div style=""><br>
</div>
<div style="">
<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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<span style="background:#FDFDFD">This Farm Market News product is sponsored by:</span><br>
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