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<span><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, June 24<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 1.3605 up 0.0064<br>
</u></div>
<div><u>Chicago corn closed slightly lower.<br>
</u></div>
<div><u><br>
</u></div>
<div><u> JUL20 HI 3.29 DEC20 HI 3.39 3/4<br>
</u></div>
<div><u> LOW 3.23 3/4 LOW 3.33 1/4<br>
</u></div>
<div><u> CLOSE3.24 1/4 Down 3/4 CLOSE 3.33 3/4 Down 3<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 +SEP20+SEP20+DEC20<br>
</u></div>
<div><u>CK Low 1.35 4.59 180.80 0.90 4.24 166.82<br>
</u></div>
<div><u>CK High 1.38 4.62 181.98 0.95 4.29 168.79<br>
</u></div>
<div><u>CK Avg 1.36 0.14 4.60 181.19 0.91 -0.22 4.25 167.15<br>
</u></div>
<div><u>Essex Cty 1.38 4.62 181.98 0.90 4.24 166.82<br>
</u></div>
<div><u>Mdsx Low 1.35 4.59 180.80 0.90 4.24 166.82<br>
</u></div>
<div><u>Mdsx High 1.38 4.62 181.98 0.90 4.24 166.82<br>
</u></div>
<div><u>Mdsx Avg 1.37 0.14 4.61 181.39 0.90 -0.22 4.24 166.82<br>
</u></div>
<div><u>Hensall 1.37 4.61 181.45 0.92 4.25 167.48<br>
</u></div>
<div><u>Bruce 1.35 4.59 180.80 0.90 4.24 166.82<br>
</u></div>
<div><u>Putnam 1.35 4.59 180.80 0.90 4.24 166.82<br>
</u></div>
<div><u>Burford 1.38 4.62 181.98 0.90 4.24 166.82<br>
</u></div>
<div><u>Port Perry 1.53 4.77 187.89 1.10 4.44 174.70<br>
</u></div>
<div><u>Norfolk 1.38 4.62 181.98 0.90 4.24 166.82<br>
</u></div>
<div><u>Palmerston 1.35 4.59 180.80 0.94 4.28 168.40<br>
</u></div>
<div><u>Varna 1.35 4.59 180.80 0.90 4.24 166.82<br>
</u></div>
<div><u>Trenton 1.50 4.74 186.70 1.10 4.44 174.70<br>
</u></div>
<div><u>Winchester 1.45 4.69 184.74 1.40 4.74 186.51<br>
</u></div>
<div><u>North Gower 1.40 4.64 182.77 1.40 4.74 186.51<br>
</u></div>
<div><u>Vankleek HilN/A 0.94 4.28 168.40<br>
</u></div>
<div><u>Huron FOB 1.49 4.73 186.31 0.95 4.29 168.79<br>
</u></div>
<div><u>Kent FOB 1.48 4.72 185.92 0.95 4.29 168.79<br>
</u></div>
<div><u>Lamb FOB 1.40 4.64 182.77 0.88 4.22 166.04<br>
</u></div>
<div><u>Mdsx FOB 1.50 1.50N/A N/A 4.74 186.70 0.95 4.29 168.79<br>
</u></div>
<div><u>FOB SW Que 1.96 5.20 204.81N/A<br>
</u></div>
<div><u>Track 1.69 4.93 193.99N/A<br>
</u></div>
<div><u>PROCESSORS<br>
</u></div>
<div><u>Chat-Eth N/A N/A 1.49 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 1.66 1.69 1.66 1.11 4.45 175.09<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 4.54 178.63<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 2.00N/A 1.55 4.89 192.41<br>
</u></div>
<div><u>W O Feed 1.81 5.05 198.91<br>
</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.85 5.09 200.48<br>
</u></div>
<div><u>Toledo El. -0.04 3.20 126.04 -0.27 3.07 120.68<br>
</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER<br>
</u></div>
<div><u>Pt. Colb 1.83 5.07 199.70 1.35 4.69 184.54<br>
</u></div>
<div><u>Prescott 2.03 5.27 207.57N/A<br>
</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>HI SD CRN 0.95 4.28 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 1.3605 up 0.0064<br>
</u></div>
<div><u>Chicago soybeans closed slightly lower.<br>
</u></div>
<div><u><br>
</u></div>
<div><u> JUL20 HI 8.77 1/2 NOV20 HI 8.76 3/4<br>
</u></div>
<div><u> LOW 8.70 LOW 8.68 1/2<br>
</u></div>
<div><u> CLOSE8.70 3/4 Down 4 1/4 CLOSE 8.70 Down 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 Basis U.S. $/bu $/mt<br>
</u></div>
<div><u>ELEVATORS +JUL20+AUG20+NOV20<br>
</u></div>
<div><u>CK Low 2.72 11.43 419.89 2.50 11.20 411.53<br>
</u></div>
<div><u>CK High 2.85 11.56 424.67 2.60 11.30 415.20<br>
</u></div>
<div><u>CK Average 2.78 -0.27 11.48 421.91 2.52 -0.45 11.22 412.39<br>
</u></div>
<div><u>Essex Cty 2.72 11.43 419.89 2.50 11.20 411.53<br>
</u></div>
<div><u>Mdsx Low 2.75 11.46 420.99 2.52 11.22 412.26<br>
</u></div>
<div><u>Mdsx High 2.81 11.52 423.20 2.55 11.25 413.37<br>
</u></div>
<div><u>Mdsx Average2.78 -0.26 11.49 422.09 2.54 -0.44 11.24 412.82<br>
</u></div>
<div><u>Hensall 2.75 11.46 420.99 2.55 11.25 413.37<br>
</u></div>
<div><u>Bruce 2.80 11.51 422.83 2.55 11.25 413.37<br>
</u></div>
<div><u>Putnam 2.75 11.46 420.99 2.50 11.20 411.53<br>
</u></div>
<div><u>Burford 2.88 11.59 425.77 2.59 11.29 414.84<br>
</u></div>
<div><u>Port Perry 2.83 11.54 423.93 2.54 11.24 413.00<br>
</u></div>
<div><u>Norfolk 2.72 11.43 419.89 2.55 11.25 413.37<br>
</u></div>
<div><u>Palmerston 2.84 11.55 424.30 2.65 11.35 417.04<br>
</u></div>
<div><u>Varna 2.80 11.51 422.83 2.55 11.25 413.37<br>
</u></div>
<div><u>Trenton 2.80 11.51 422.83 2.55 11.25 413.37<br>
</u></div>
<div><u>Winchester 2.85 11.56 424.67 2.60 11.30 415.20<br>
</u></div>
<div><u>North Gower 2.72 11.43 419.89 2.55 11.25 413.37<br>
</u></div>
<div><u>Vankleek Hil N/A 3.00 11.70 429.90<br>
</u></div>
<div><u>Huron FOB 3.04 11.75 431.65 2.63 11.33 416.31<br>
</u></div>
<div><u>Kent FOB 2.92 11.63 427.24 2.50 11.20 411.53<br>
</u></div>
<div><u>Lambton FOB 3.05 11.76 432.01 2.70 11.40 418.88<br>
</u></div>
<div><u>Mdsx FOB 3.00 3.06 N/A N/A 11.71 430.18 2.71 11.41 419.25<br>
</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS<br>
</u></div>
<div><u>Windsor 3.26 11.97 439.73 2.86 11.56 424.76<br>
</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER<br>
</u></div>
<div><u>Hamilton 3.27 11.98 440.10 3.00 11.70 429.90<br>
</u></div>
<div><u>Prescott N/A 3.05 11.75 431.74<br>
</u></div>
<div><u>Port Colborn3.14 11.85 435.32 2.91 11.61 426.59<br>
</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.11 8.60 315.95 -0.34 8.36 307.17<br>
</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.3605 up 0.0064<br>
</u></div>
<div><u>Chicago wheat closed slightly lower.<br>
</u></div>
<div><u>JUL20 HI 4.88 SEP20 HI 4.92 1/2<br>
</u></div>
<div><u> LOW 4.80 LOW 4.84 1/2<br>
</u></div>
<div><u> CLOSE 4.81 1/4 Down 4 3/4 CLOSE 4.85 3/4 Down 5 1/4<br>
</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly higher.<br>
</u></div>
<div><u>JUL20 HI 5.18 1/2 SEP20 HI 5.26 3/4<br>
</u></div>
<div><u> LOW 5.14 LOW 5.23 3/4<br>
</u></div>
<div><u> CLOSE 5.16 1/4 Up 1 1/2 CLOSE 5.24 1/4 Up 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 1.87 2.08 1.87 1.25<br>
</u></div>
<div><u>CAD $/bu 6.68 6.89 6.68 6.41<br>
</u></div>
<div><u>CAD $/tonne 245.58 253.08 245.58 235.58<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 1.05 N/A<br>
</u></div>
<div><u>London 1.73 1.94 1.33 N/A 1.28 1.48 1.07 N/A<br>
</u></div>
<div><u>Hensall 1.30 N/A 1.30 N/A 1.20 N/A 1.05 N/A<br>
</u></div>
<div><u>Trenton N/A N/A N/A N/A N/A N/A 1.20 N/A<br>
</u></div>
<div><u>Bruce N/A N/A N/A N/A 1.15 1.45 1.05 1.20<br>
</u></div>
<div><u>Essex N/A N/A 1.45 N/A N/A N/A 1.05 N/A<br>
</u></div>
<div><u>Norwich 1.30 N/A 1.30 N/A 1.20 N/A 1.05 N/A<br>
</u></div>
<div><u>Port Hope N/A N/A 1.30 N/A N/A N/A 1.20 N/A<br>
</u></div>
<div><u>Kent Bridge 1.30 N/A 1.30 N/A 1.20 N/A 1.05 N/A<br>
</u></div>
<div><u>Chatham N/A N/A N/A N/A N/A N/A 1.05 N/A<br>
</u></div>
<div><u>Brigden N/A N/A N/A N/A N/A N/A 1.05 N/A<br>
</u></div>
<div><u>Palmerston N/A 1.88 1.33 1.66 N/A 1.55 1.13 1.15<br>
</u></div>
<div><u>Varna 1.50 1.70 1.30 N/A 1.15 1.45 1.05 N/A<br>
</u></div>
<div><u>Mitchell 1.30 1.45 1.30 N/A 1.20 1.40 1.05 N/A<br>
</u></div>
<div><u>Thornton N/A N/A N/A 1.19 N/A N/A N/A N/A<br>
</u></div>
<div><u>North Gower N/A N/A N/A N/A N/A 1.60 1.30 1.10<br>
</u></div>
<div><u>W O Feed 1.92<br>
</u></div>
<div><u><br>
</u></div>
<div><u>TERMINAL<br>
</u></div>
<div><u>Port Colbor N/A N/A N/A N/A N/A N/A 1.41 N/A<br>
</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS<br>
</u></div>
<div><u>Toledo FM N/A N/A 1.74 N/A N/A N/A 1.68 N/A<br>
</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 4.81US 6.55CA 4.81US 6.54CA<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 1.41 1.75 1.41 1.28<br>
</u></div>
<div><u>CAD $/bu 6.27 6.61 6.27 6.52<br>
</u></div>
<div><u>CAD $/tonne 230.34 242.83 230.34 239.58<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 482.60<br>
</u></div>
<div><u>DDG's FOB Srn & Aylm 220.00 <br>
</u></div>
<div><u><br>
</u></div>
<div>---</div>
<div><br>
</div>
<div><span style="color: inherit; font-family: inherit; font-size: inherit; font-style: inherit; font-variant-ligatures: inherit; font-variant-caps: inherit; font-weight: inherit; background-color: ;">Ontario Grain Market Commentary for June 24, 2020</span><br>
</div>
<div><span style="color: inherit; font-family: inherit; font-size: inherit; font-style: inherit; font-variant-ligatures: inherit; font-variant-caps: inherit; font-weight: inherit; background-color: ;">By Todd Austin, Grain Farmers of Ontario</span></div>
<div><br>
</div>
<div><span style="color: inherit; font-family: inherit; font-size: inherit; font-style: inherit; font-variant-ligatures: inherit; font-variant-caps: inherit; font-weight: inherit; background-color: ;">
<div><br>
</div>
<div>Wednesday, June 24, 2020<br>
</div>
<div>COMMODITY PERIOD PRICE WEEKLY MOVEMENT<br>
</div>
<div>Corn CBOT July 3.24¨ù ¡é 6 Cents<br>
</div>
<div>Soybeans CBOT July 8.70¨ú ¡é ¨ö Cent<br>
</div>
<div>Wheat CBOT July 4.81¨ù ¡é 7¨ö Cents<br>
</div>
<div>Wheat Minn. July 5.16¨ù ¡é 4 Cents<br>
</div>
<div>Wheat Kansas July 4.31¨ù ¡é 1¨ù Cent<br>
</div>
<div>Oats CBOT July 3.04¨ú ¡é 2¨ö Cents<br>
</div>
<div><br>
</div>
<div>Canadian $ June 0.7350 ¡é 23 Points<br>
</div>
<div><br>
</div>
<div><br>
</div>
<div>CORN: <br>
</div>
<div>Corn futures have recently lost ground due to weak demand and an improved weather outlook across the U.S. Midwest. As fuel demand remains low, demand for corn for ethanol production will likewise remain low.<br>
</div>
<div>The USDA had rated corn as 72% good-to-excellent, up one percentage point from the previous week and also above what the trade was expecting.
<br>
</div>
<div><br>
</div>
<div>SOYBEANS: <br>
</div>
<div>Chinese port stocks of soybeans fell to their lowest levels in the past decade in March of this year. These stocks have now almost doubled, reaching 6.5 million tonnes by mid-June.<br>
</div>
<div>Reuters has recently reported that Chinese importers have asked exporters in the U.S., Brazil, and Canada to sign a letter guaranteeing that their cargo are not contaminated with coronavirus. There has been rising fear in China that food imports may lead
to outbreaks of COVID-19.<br>
</div>
<div><br>
</div>
<div>WHEAT:<br>
</div>
<div>U.S. winter wheat harvest was 29% complete for the week ending June 21. This pace is 6% ahead of last year at this time and 3 percentage points above the five-year average. The winter wheat crop condition improved this week, from last week, as 52% of the
crop is considered good-to-excellent.<br>
</div>
<div>U.S. Spring wheat condition is reported to be 75% good-to-excellent, down from last week as dry conditions are present in many of the wheat production states. North Dakota for instance has had its spring wheat ratings fall from 84% good-to-excellent down
to 78% in two weeks.<br>
</div>
<div><br>
</div>
<div><br>
</div>
<div>2020 harvest prices for June 24, 2020, at the market close, are as follows:<br>
</div>
<div><br>
</div>
<div>SWW at $230.33/mt ($6.27bu), HRW at $242.82/mt ($6.61 /bu) + protein, <br>
</div>
<div>HRS at $ 239.58/mt ($6.52/bu) + protein, and SRW at $230.33 /mt ($6.27/bu).<br>
</div>
<div><br>
</div>
<div>We offer on farm bids for 2020 wheat 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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