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<span><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, May 13<br>
</u></span></div>
<div style="font-family:"Courier New",monospace; font-size:10pt; color:rgb(0,0,0)">
<span><u></u></span>
<div><u>(All Bases in CAD)<br>
</u></div>
<div><u>Exchange rate was 1.4104 up 0.0054<br>
</u></div>
<div><u>Chicago corn closed slightly lower.<br>
</u></div>
<div><u><br>
</u></div>
<div><u> JUL20 HI 3.22 DEC20 HI 3.35 3/4<br>
</u></div>
<div><u> LOW 3.17 3/4 LOW 3.32<br>
</u></div>
<div><u> CLOSE3.18 1/4 Down 4 CLOSE 3.32 1/2 Down 3 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+SEP20+SEP20<br>
</u></div>
<div><u>CK Low 1.25 4.43 174.50 0.90 4.23 166.33<br>
</u></div>
<div><u>CK High 1.25 4.43 174.50 0.95 4.28 168.30<br>
</u></div>
<div><u>CK Avg 1.25 -0.04 4.43 174.50 0.91 -0.32 4.23 166.66<br>
</u></div>
<div><u>Essex Cty 1.25 4.43 174.50 0.90 4.23 166.33<br>
</u></div>
<div><u>Mdsx Low 1.25 4.43 174.50 0.90 4.23 166.33<br>
</u></div>
<div><u>Mdsx High 1.25 4.43 174.50 0.90 4.23 166.33<br>
</u></div>
<div><u>Mdsx Avg 1.25 -0.04 4.43 174.50 0.90 -0.33 4.23 166.33<br>
</u></div>
<div><u>Hensall 1.28 4.46 175.48 0.93 4.25 167.32<br>
</u></div>
<div><u>Bruce 1.25 4.43 174.50 0.95 4.28 168.30<br>
</u></div>
<div><u>Putnam 1.25 4.43 174.50 0.90 4.23 166.33<br>
</u></div>
<div><u>Burford 1.25 4.43 174.50 0.90 4.23 166.33<br>
</u></div>
<div><u>Port Perry 1.35 4.53 178.44 1.05 4.38 172.24<br>
</u></div>
<div><u>Norfolk 1.25 4.43 174.50 0.90 4.23 166.33<br>
</u></div>
<div><u>Palmerston 1.26 4.44 174.89 0.94 4.27 167.91<br>
</u></div>
<div><u>Varna 1.25 4.43 174.50 0.90 4.23 166.33<br>
</u></div>
<div><u>Trenton 1.35 4.53 178.44 1.15 4.48 176.17<br>
</u></div>
<div><u>Winchester 1.40 4.58 180.41 1.45 4.78 187.98<br>
</u></div>
<div><u>North Gower 1.35 4.53 178.44 1.40 4.73 186.02<br>
</u></div>
<div><u>Vankleek Hil 1.07 4.25 167.41 0.95 4.28 168.30<br>
</u></div>
<div><u>Huron FOB 1.40 4.58 180.41 0.95 4.28 168.30<br>
</u></div>
<div><u>Kent FOB 1.30 4.48 176.47 0.90 4.23 166.33<br>
</u></div>
<div><u>Lamb FOB N/A 1.00 4.33 170.27<br>
</u></div>
<div><u>Mdsx FOB 1.30N/A N/A N/A 4.48 176.47 0.95 4.28 168.30<br>
</u></div>
<div><u>FOB SW Que 2.19 5.37 211.51N/A<br>
</u></div>
<div><u>Track 1.57 4.75 187.10N/A<br>
</u></div>
<div><u>PROCESSORS<br>
</u></div>
<div><u>Chat-Eth N/A N/A N/A 1.52 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 1.60 1.15 4.48 176.17<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 4.53 178.14<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 1.95 2.00 1.50 4.83 189.95<br>
</u></div>
<div><u>W O Feed 1.72 4.91 193.10<br>
</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.87 5.05 198.91<br>
</u></div>
<div><u>Toledo El. -0.17 3.01 118.63 -0.42 2.90 114.26<br>
</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER<br>
</u></div>
<div><u>Pt. Colb 1.80 4.98 196.15 1.35 4.68184<br>
</u></div>
<div><u>Prescott N/A N/A<br>
</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>HI SD CRN 0.95 4.27 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 1.4104 up 0.0054<br>
</u></div>
<div><u>Chicago soybeans closed slightly to moderately lower.<br>
</u></div>
<div><u><br>
</u></div>
<div><u> JUL20 HI 8.54 NOV20 HI 8.58 1/2<br>
</u></div>
<div><u> LOW 8.36 1/2 LOW 8.43<br>
</u></div>
<div><u> CLOSE8.39 1/2 Down 12 1/2 CLOSE 8.45 1/2 Down 11 1/2<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 +JUL2+JUL2+SEP20<br>
</u></div>
<div><u>CK Low 2.90 11.30 415.022.70 11.16 409.88<br>
</u></div>
<div><u>CK High 2.99 11.39 418.332.80 11.26 413.55<br>
</u></div>
<div><u>CK Average 2.95 -0.3511.34 416.802.78 -0.4811.24 412.82<br>
</u></div>
<div><u>Essex Cty 2.95 11.35 416.862.75 11.21 411.71<br>
</u></div>
<div><u>Mdsx Low 2.95 11.35 416.862.76 11.22 412.08<br>
</u></div>
<div><u>Mdsx High 2.97 11.37 417.592.80 11.26 413.55<br>
</u></div>
<div><u>Mdsx Average 2.96 -0.3411.36 417.222.78 -0.4811.24 412.82<br>
</u></div>
<div><u>Hensall 2.93 11.32 415.942.78 11.23 412.63<br>
</u></div>
<div><u>Bruce 2.95 11.35 416.862.80 11.26 413.55<br>
</u></div>
<div><u>Putnam 2.95 11.35 416.862.80 11.26 413.55<br>
</u></div>
<div><u>Burford 3.04 11.44 420.162.83 11.29 414.65<br>
</u></div>
<div><u>Port Perry 2.99 11.39 418.332.78 11.24 412.82<br>
</u></div>
<div><u>Norfolk 2.95 11.35 416.862.80 11.26 413.55<br>
</u></div>
<div><u>Palmerston 2.88 11.28 414.292.83 11.29 414.65<br>
</u></div>
<div><u>Varna 2.95 11.35 416.862.80 11.26 413.55<br>
</u></div>
<div><u>Trenton 2.95 11.35 416.862.80 11.26 413.55<br>
</u></div>
<div><u>Winchester 2.90 11.30 415.022.70 11.16 409.88<br>
</u></div>
<div><u>North Gower 2.82 11.22 412.082.75 11.21 411.71<br>
</u></div>
<div><u>Vankleek Hill N/A 2.74 11.20 411.35<br>
</u></div>
<div><u>Huron FOB 3.10 11.50 422.372.90 11.36 417.22<br>
</u></div>
<div><u>Kent FOB 3.15 11.55 424.212.80 11.26 413.55<br>
</u></div>
<div><u>Lambton FOB 3.15 11.55 424.212.80 11.26 413.55<br>
</u></div>
<div><u>Middlesex FOB3.16 3.16 N/A N/A 11.56 424.572.88 11.34 416.49<br>
</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS<br>
</u></div>
<div><u>Windsor 3.44 11.84 434.863.04 11.50 422.37<br>
</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER<br>
</u></div>
<div><u>Hamilton 3.55 11.95 438.903.25 11.71 430.09<br>
</u></div>
<div><u>Prescott N/A 3.16 11.62 426.78<br>
</u></div>
<div><u>Port Colborne3.57 11.97 439.643.22 11.68 428.98<br>
</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.14 8.25 303.28-0.42 8.03 295.14<br>
</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.4104 up 0.0054<br>
</u></div>
<div><u>Chicago wheat closed moderately lower to lower.<br>
</u></div>
<div><u>JUL20 HI 5.14 1/4 SEP20 HI 5.17<br>
</u></div>
<div><u> LOW 5.00 1/4 LOW 5.04 1/4<br>
</u></div>
<div><u> CLOSE 5.01 3/4 Down 12 3/4 CLOSE 5.05 1/4 Down 12 1/4<br>
</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed moderately lower to lower.<br>
</u></div>
<div><u>JUL20 HI 5.20 3/4 SEP20 HI 5.30 1/4<br>
</u></div>
<div><u> LOW 5.07 1/4 LOW 5.18 3/4<br>
</u></div>
<div><u> CLOSE 5.08 1/4 Down 12 3/4 CLOSE 5.19 3/4 Down 11 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 2.20 2.41 2.20 1.45<br>
</u></div>
<div><u>CAD $/bu 7.22 7.43 7.22 6.53<br>
</u></div>
<div><u>CAD $/tonne 265.21 272.99 265.21 240.08<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 1.37 N/A<br>
</u></div>
<div><u>London 2.05 2.33 1.84 N/A 1.60 1.81 1.32 N/A<br>
</u></div>
<div><u>Hensall 1.85 N/A 1.85 N/A 1.52 N/A 1.37 N/A<br>
</u></div>
<div><u>Trenton N/A N/A N/A N/A N/A N/A 1.47 N/A<br>
</u></div>
<div><u>Bruce 1.80 2.30 1.85 1.95 1.42 1.77 1.37 1.35<br>
</u></div>
<div><u>Essex N/A N/A 1.80 N/A N/A N/A 1.32 N/A<br>
</u></div>
<div><u>Norwich 1.85 N/A 1.85 N/A 1.52 N/A 1.37 N/A<br>
</u></div>
<div><u>Port Hope N/A N/A 1.85 N/A N/A N/A 1.42 N/A<br>
</u></div>
<div><u>Kent Bridge 1.85 N/A 1.85 N/A 1.52 N/A 1.37 N/A<br>
</u></div>
<div><u>Chatham N/A N/A N/A N/A N/A N/A 1.37 N/A<br>
</u></div>
<div><u>Brigden N/A N/A N/A N/A N/A N/A 1.37 N/A<br>
</u></div>
<div><u>Palmerston N/A 2.27 1.70 1.87 N/A 1.86 1.36 1.36<br>
</u></div>
<div><u>Varna 2.05 2.25 1.85 N/A 1.47 1.77 1.37 N/A<br>
</u></div>
<div><u>Mitchell 1.85 2.00 1.85 N/A 1.52 1.72 1.37 N/A<br>
</u></div>
<div><u>Thornton N/A N/A N/A 1.79 N/A N/A N/A N/A<br>
</u></div>
<div><u>North Gower N/A 2.10 1.90 1.05 N/A 1.90 1.50 1.10<br>
</u></div>
<div><u>W O Feed 2.36<br>
</u></div>
<div><u><br>
</u></div>
<div><u>TERMINAL<br>
</u></div>
<div><u>Port Colbor N/A N/A 2.18 N/A N/A N/A 1.66 N/A<br>
</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS<br>
</u></div>
<div><u>Toledo FM N/A N/A 2.06 N/A N/A N/A 2.02 N/A<br>
</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 5.02US 7.08CA 5.02US 7.08CA<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 1.71 2.07 1.71 1.28<br>
</u></div>
<div><u>CAD $/bu 6.77 7.12 6.77 6.48<br>
</u></div>
<div><u>CAD $/tonne 248.64 261.59 248.64 238.03<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 503.32<br>
</u></div>
<div><u>DDG's FOB Srn & Aylm -<br>
</u></div>
<u><span></span><br>
</u></div>
<div style="font-family:"Courier New",monospace; font-size:10pt; color:rgb(0,0,0)">
---</div>
<div style="font-family:"Courier New",monospace; font-size:10pt; color:rgb(0,0,0)">
Ontario Grain Market Commentary for May 13, 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><br>
</div>
<div>Wednesday, May 13, 2020<br>
</div>
<div>COMMODITY PERIOD PRICE WEEKLY MOVEMENT<br>
</div>
<div>Corn CBOT July 3.18¨ù ¡è 4 cents<br>
</div>
<div>Soybeans CBOT July 8.39¨ö ¡è 7 cents<br>
</div>
<div>Wheat CBOT July 5.01¨ú ¡é 15¨ú cents<br>
</div>
<div>Wheat Minn. July 5.08¨ù ¡è ¨ö Cents<br>
</div>
<div>Wheat Kansas July 4.54¨ù ¡é 23¨ù Cent<br>
</div>
<div>Oats CBOT July 3.05¨ö ¡è 14 Cents<br>
</div>
<div><br>
</div>
<div>Canadian $ June 0.7094 ¡è 14 Points<br>
</div>
<div><br>
</div>
<div><br>
</div>
<div>CORN: <br>
</div>
<div>The U.S. corn crop is 67% planted, up 16% from last week. Last year at this time, the U.S. planting was an anemic 28% complete.<br>
</div>
<div>The latest USDA report indicated that the 2020/2021 corn carryout could be 3.317 billion bushels. The current crop is expected to have an ending inventory of 2.098 billion bushels.<br>
</div>
<div>In Ontario, provincially the corn planting is 90-95% complete, but there are areas that are well below this threshold.<br>
</div>
<div><br>
</div>
<div>SOYBEANS: <br>
</div>
<div>U.S. soybean planting is 38% complete, up from 23% last week. With the projected acreage and trend-line yields, the soybean crop is expected to be 4.13 billion bushels. Demand, both domestic and export are anticipated to be strong this upcoming marketing
year. As a result, ending inventory is expected to be 405 million bushels. This is a decrease from of 176 million bushels from last year.<br>
</div>
<div>Planting in Ontario is 30-40% complete, but again there are pockets well below this rate and pockets where planting is above this pace.<br>
</div>
<div><br>
</div>
<div>WHEAT:<br>
</div>
<div>U.S. winter wheat production is expected to be 1.255 billion bushels, down 49.403 million bushels from 2019. Soft red winter wheat production is forecast at 297.527 million bushels, up 24% from last year. Soft white winter wheat production is targeted
at 207.464 million bushels, down 2% from last year. Hard red winter wheat is anticipated at 733.409 million bushels, down 12% from last year.<br>
</div>
<div>U.S. spring wheat is 42% planted, up from 29% last week. This pace is behind the five-year average of 63 per cent. <br>
</div>
<div><br>
</div>
<div><br>
</div>
<div>2019 cash prices for May 13, 2020, at the market close, are as follows:<br>
</div>
<div><br>
</div>
<div>SWW at $265.05/mt ($7.21bu), HRW at $272.83/mt ($7.43 /bu), <br>
</div>
<div>HRS at $ 239.94/mt ($6.53/bu), and SRW at $265.05 /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><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">
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<span style="background:#FDFDFD">This Farm Market News product is sponsored by:</span><br>
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