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Ontario Grain Market Commentary for June 17, 2020</div>
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By Todd Austin, Grain Farmers of Ontario</div>
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<div>Wednesday, June 17, 2020<br>
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<div>COMMODITY PERIOD PRICE WEEKLY MOVEMENT<br>
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<div>Corn CBOT July 3.30¨ù ¡è 4 Cents<br>
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<div>Soybeans CBOT July 8.71¨ù ¡è 5¨ú Cents<br>
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<div>Wheat CBOT July 4.88¨ú ¡é 17¨ö Cents<br>
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<div>Wheat Minn. July 5.20¨ù ¡è ¨ú Cents<br>
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<div>Wheat Kansas July 4.32¨ö ¡é 25 Cent<br>
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<div>Oats CBOT July 3.05 ¡é 8¨ö Cents<br>
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<div>Canadian $ June 0.7373 ¡é 128 Points<br>
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<div>CORN: <br>
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<div>The USDA crop progress report has pegged corn at 71% good-to-excellent. This figure is down by 4 per cent from last week. Overall, 95% of the corn has emerged at this point.<br>
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<div>The USDA ending stock data indicates the 2019/2020 corn crop at 2.103 billion bushels. The USDA is forecasting the 2020/2021 corn ending stocks to be 3.32 billion bushels.
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<div>SOYBEANS: <br>
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<div>U.S. soybeans are now 93% planted; 81% of this crop has emerged. The crop condition is 81% good-to-excellent.<br>
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<div>China has been reported to have purchased 390,000 tonnes of U.S. soybeans this week for delivery in the 2020/2021 marketing year. Some news articles indicate that China has now bought 700,000 tonnes to 1.1 million tonnes of U.S. soybeans over the past
few weeks. A portion of these sales are expected to be shipped in the 2019/2020 marketing year, while the remaining amount will be shipped in the 2020/2021 marketing year.<br>
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<div>WHEAT:<br>
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<div>The U.S. winter wheat crop is 15% harvested, which is on pace with the five-year average. Harvest pressure continues to push the Chicago futures lower.<br>
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<div>Global wheat prices have been under pressure following last week¡¯s USDA report. This report increased world wheat production estimates by 4.9 million tonnes along with its forecast of global stocks.
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<div>2020 harvest prices for June 17, 2020, at the market close, are as follows:<br>
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<div>SWW at $233.73/mt ($6.36bu), HRW at $246.19/mt ($6.70 /bu) + protein, <br>
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<div>HRS at $ 239.58/mt ($6.52/bu) + protein, and SRW at $233.73 /mt ($6.36/bu).<br>
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<div>We offer on farm bids for 2020 wheat and 2021 harvest prices as well, please call
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<div>1-800-265-0550 for more information.<br>
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<div>---</div>
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<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>
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<span style="font-size:10.0pt;font-family:"Courier New"">Editor, AgriLink and Farm Market News
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<span style="font-size:10.0pt;font-family:"Courier New"">University of Guelph, Ridgetown Campus</span></p>
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<span style="font-size:10.0pt;font-family:"Courier New"">Email:fmnc@uoguelph.ca<span style="mso-spacerun:yes">
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<span style="font-size:10.0pt;font-family:"Courier New"">Tel. 519-674-1500 x 63577
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<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>
<span style="background:#FDFDFD">Grain Farmers of Ontario</span></span></p>
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