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<span><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, July 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 1.3503 down 0.0113<br>
</u></div>
<div><u>Chicago corn closed slightly higher.<br>
</u></div>
<div><u><br>
</u></div>
<div><u> SEP20 HI 3.28 3/4 DEC20 HI 3.36 1/4<br>
</u></div>
<div><u> LOW 3.22 3/4 LOW 3.30 1/2<br>
</u></div>
<div><u> CLOSE3.26 1/4 Up 1/4 CLOSE 3.34 Up 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 +SEP20+DEC20+DEC20<br>
</u></div>
<div><u>CK Low 1.40 4.66 183.55 0.95 4.29 168.89<br>
</u></div>
<div><u>CK High 1.45 4.71 185.52 0.95 4.29 168.89<br>
</u></div>
<div><u>CK Avg 1.42 0.20 4.68 184.21 0.95 -0.18 4.29 168.89<br>
</u></div>
<div><u>Essex Cty 1.45 4.71 185.52 0.95 4.29 168.89<br>
</u></div>
<div><u>Mdsx Low 1.40 4.66 183.55 0.95 4.29 168.89<br>
</u></div>
<div><u>Mdsx High 1.45 4.71 185.52 0.95 4.29 168.89<br>
</u></div>
<div><u>Mdsx Avg 1.43 0.21 4.69 184.54 0.95 -0.18 4.29 168.89<br>
</u></div>
<div><u>Hensall 1.45 4.71 185.52 1.00 4.34 170.86<br>
</u></div>
<div><u>Bruce 1.45 4.71 185.52 1.00 4.34 170.86<br>
</u></div>
<div><u>Putnam 1.40 4.66 183.55 0.90 4.24 166.92<br>
</u></div>
<div><u>Burford 1.45 4.71 185.52 0.95 4.29 168.89<br>
</u></div>
<div><u>Port Perry 1.55 4.81 189.46 1.30 4.64 182.67<br>
</u></div>
<div><u>Norfolk 1.45 4.71 185.52 0.95 4.29 168.89<br>
</u></div>
<div><u>Palmerston 1.38 4.64 182.77 0.90 4.24 166.92<br>
</u></div>
<div><u>Varna 1.45 4.71 185.52 1.00 4.34 170.86<br>
</u></div>
<div><u>Trenton 1.55 4.81 189.46 1.25 4.59 180.70<br>
</u></div>
<div><u>Winchester 1.45 4.71 185.52 1.40 4.74 186.61<br>
</u></div>
<div><u>North Gower 1.45 4.71 185.52 1.45 4.79 188.57<br>
</u></div>
<div><u>Vankleek HilN/A 1.13 4.47 175.98<br>
</u></div>
<div><u>Huron FOB 1.67 4.93 194.18 1.08 4.42 174.01<br>
</u></div>
<div><u>Kent FOB 1.60 4.86 191.43 1.05 4.39 172.83<br>
</u></div>
<div><u>Lamb FOB 1.67 4.93 194.18 1.10 4.44 174.80<br>
</u></div>
<div><u>Mdsx FOB 1.55 1.65N/A N/A 4.81 189.46 1.00 4.34 170.86<br>
</u></div>
<div><u>FOB SW Que 2.09 5.35 210.72N/A<br>
</u></div>
<div><u>Track 1.90 5.16 203.04N/A<br>
</u></div>
<div><u>PROCESSORS<br>
</u></div>
<div><u>Chat-Eth N/A N/A 1.55N/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 1.83 1.90 1.82 1.50 5.09 200.48 1.25 4.59 180.70<br>
</u></div>
<div><u>Sarn-Eth N/A N/A 1.80N/A 1.15 4.49 176.76<br>
</u></div>
<div><u>London-Ing N/A N/A N/A 1.40 1.30 4.64 182.67<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 2.05 1.55 4.89 192.51<br>
</u></div>
<div><u>W O Feed 1.93 5.19 204.42<br>
</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.89 5.15 202.84<br>
</u></div>
<div><u>Toledo El. -0.07 3.19 125.78 -0.27 3.07 120.81<br>
</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER<br>
</u></div>
<div><u>Pt. Colb 1.95 5.21 205.21 1.35 4.69 184.64<br>
</u></div>
<div><u>Prescott 1.90 5.16 203.24 1.47 4.81 189.36<br>
</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>HI SD CRN 0.95 4.29<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 1.3503 down 0.0113<br>
</u></div>
<div><u>Chicago soybeans closed slightly higher.<br>
</u></div>
<div><u><br>
</u></div>
<div><u> AUG20 HI 8.87 1/2 NOV20 HI 8.84<br>
</u></div>
<div><u> LOW 8.77 1/2 LOW 8.76 1/2<br>
</u></div>
<div><u> CLOSE8.86 1/4 Up 8 1/4 CLOSE 8.82 3/4 Up 5 1/4<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 +AUG20+NOV20+NOV20<br>
</u></div>
<div><u>CK Low 2.70 11.56 424.85 2.55 11.38 418.05<br>
</u></div>
<div><u>CK High 2.80 11.66 428.52 2.65 11.48 421.73<br>
</u></div>
<div><u>CK Average 2.78 -0.24 11.64 427.85 2.61 -0.39 11.44 420.19<br>
</u></div>
<div><u>Essex Cty 2.80 11.66 428.52 2.60 11.43 419.89<br>
</u></div>
<div><u>Mdsx Low 2.77 11.63 427.42 2.53 11.36 417.32<br>
</u></div>
<div><u>Mdsx High 2.80 11.66 428.52 2.65 11.48 421.73<br>
</u></div>
<div><u>Mdsx Average2.79 -0.24 11.65 427.97 2.59 -0.41 11.42 419.52<br>
</u></div>
<div><u>Hensall 2.80 11.66 428.52 2.62 11.44 420.50<br>
</u></div>
<div><u>Bruce 2.80 11.66 428.52 2.60 11.43 419.89<br>
</u></div>
<div><u>Putnam 2.80 11.66 428.52 2.65 11.48 421.73<br>
</u></div>
<div><u>Burford 2.84 11.70 429.99 2.60 11.43 419.89<br>
</u></div>
<div><u>Port Perry 2.79 11.65 428.16 2.55 11.38 418.05<br>
</u></div>
<div><u>Norfolk 2.80 11.66 428.52 2.65 11.48 421.73<br>
</u></div>
<div><u>Palmerston 2.82 11.68 429.26 2.59 11.42 419.52<br>
</u></div>
<div><u>Varna 2.80 11.66 428.52 2.60 11.43 419.89<br>
</u></div>
<div><u>Trenton 2.80 11.66 428.52 2.60 11.43 419.89<br>
</u></div>
<div><u>Winchester 2.75 11.61 426.69 2.65 11.48 421.73<br>
</u></div>
<div><u>North Gower 2.75 11.61 426.69 2.67 11.50 422.46<br>
</u></div>
<div><u>Vankleek Hil N/A 2.91 11.74 431.28<br>
</u></div>
<div><u>Huron FOB 2.81 11.67 428.89 2.63 11.46 420.99<br>
</u></div>
<div><u>Kent FOB 2.90 11.76 432.20 2.60 11.43 419.89<br>
</u></div>
<div><u>Lambton FOB 2.85 11.71 430.36 2.75 11.58 425.40<br>
</u></div>
<div><u>Mdsx FOB 2.80 3.00 N/A N/A 11.66 428.52 2.72 11.55 424.30<br>
</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS<br>
</u></div>
<div><u>Windsor 3.06 11.92 438.08 2.82 11.65 427.97<br>
</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER<br>
</u></div>
<div><u>Hamilton 3.30 12.16 446.90 3.10 11.93 438.26<br>
</u></div>
<div><u>Prescott N/A 2.99 11.82 434.22<br>
</u></div>
<div><u>Port Colborn3.14 12.00 441.02 3.13 11.96 439.36<br>
</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 0.00 8.86 325.64 -0.34 8.49 311.90<br>
</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.3503 down 0.0113<br>
</u></div>
<div><u>Chicago wheat closed moderately to sharply higher.<br>
</u></div>
<div><u>SEP20 HI 5.51 3/4 JUL21 HI 5.54<br>
</u></div>
<div><u> LOW 5.26 3/4 LOW 5.38<br>
</u></div>
<div><u> CLOSE 5.50 3/4 Up 24 CLOSE 5.53 Up 14 3/4<br>
</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed moderately higher.<br>
</u></div>
<div><u>SEP20 HI 5.28 1/4 SEP21 HI 5.72 1/2<br>
</u></div>
<div><u> LOW 5.16 3/4 LOW 5.70<br>
</u></div>
<div><u> CLOSE 5.27 3/4 Up 9 CLOSE 5.72 1/4 Up 7<br>
</u></div>
<div><u><br>
</u></div>
<div><u>GFO Cash 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 1.66 1.93 1.66 1.24<br>
</u></div>
<div><u>CAD $/bu 7.17 7.44 7.17 6.52<br>
</u></div>
<div><u>CAD $/tonne 263.34 273.26 263.34 239.53<br>
</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Direct MarkHarvest 2020 Harvest 2021<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 1.20 N/A N/A N/A 1.20 N/A<br>
</u></div>
<div><u>London 1.34 1.61 1.14 N/A 1.58 1.64 1.17 N/A<br>
</u></div>
<div><u>Hensall 1.35 N/A 1.20 N/A 1.30 N/A 1.15 N/A<br>
</u></div>
<div><u>Trenton N/A N/A 1.20 N/A N/A N/A 1.20 N/A<br>
</u></div>
<div><u>Bruce 1.30 1.60 1.20 0.95 1.25 1.55 1.15 N/A<br>
</u></div>
<div><u>Essex N/A N/A 1.20 N/A N/A N/A 1.20 N/A<br>
</u></div>
<div><u>Norwich 1.35 N/A 1.20 N/A 1.30 N/A 1.15 N/A<br>
</u></div>
<div><u>Port Hope N/A N/A 1.20 N/A N/A N/A 1.20 N/A<br>
</u></div>
<div><u>Kent Bridge 1.35 N/A 1.20 N/A 1.30 N/A 1.15 N/A<br>
</u></div>
<div><u>Chatham N/A N/A 1.20 N/A N/A N/A 1.20 N/A<br>
</u></div>
<div><u>Brigden N/A N/A 1.20 N/A N/A N/A 1.20 N/A<br>
</u></div>
<div><u>Palmerston N/A 1.66 1.19 1.18 N/A 1.83 1.35 0.91<br>
</u></div>
<div><u>Varna 1.45 1.60 1.20 N/A 1.40 1.55 1.15 N/A<br>
</u></div>
<div><u>Mitchell 1.35 1.55 1.20 N/A 1.30 1.50 1.15 N/A<br>
</u></div>
<div><u>Thornton N/A N/A N/A 1.37 N/A N/A N/A N/A<br>
</u></div>
<div><u>North Gower N/A 1.55 1.38 1.12 N/A 1.63 1.37 1.00<br>
</u></div>
<div><u>W O Feed 1.94<br>
</u></div>
<div><u><br>
</u></div>
<div><u>TERMINAL<br>
</u></div>
<div><u>Port Colbor N/A N/A 1.61 N/A N/A N/A 1.57 N/A<br>
</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS<br>
</u></div>
<div><u>Toledo FM N/A N/A 2.20 N/A N/A N/A N/A N/A<br>
</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 5.61US 7.57CA 5.48US 7.43CA<br>
</u></div>
<div><u><br>
</u></div>
<div><u>GFO Contract Wheat Prices - DEL Terminal<br>
</u></div>
<div><u>Harvest 21 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)<br>
</u></div>
<div><u>Basis 1.70 1.83 1.63 1.22<br>
</u></div>
<div><u>CAD $/bu 7.23 7.36 7.16 6.95<br>
</u></div>
<div><u>CAD $/tonne 265.55 270.53 263.06 255.21<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 475.77<br>
</u></div>
<div><u>DDG's FOB Srn & Aylm 185.00 - 195.00<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);">
<br>
</div>
<div style="font-family: "Courier New", monospace; font-size: 10pt; color: rgb(0, 0, 0);">
Ontario Grain Market Commentary for July 15, 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);">
<span><br>
</span>
<div><br>
</div>
<div>Wednesday, July 15, 2020<br>
</div>
<div>COMMODITY PERIOD PRICE WEEKLY MOVEMENT<br>
</div>
<div>Corn CBOT Sept 3.26¨ù ¡é 20 Cents<br>
</div>
<div>Soybeans CBOT Sept 8.80¨ú ¡é 11¨ú Cent<br>
</div>
<div>Wheat CBOT Sept 5.50¨ú ¡è 34¨ö Cents<br>
</div>
<div>Wheat Minn. Sept 5.27¨ù ¡è 4 Cents<br>
</div>
<div>Wheat Kansas Sept 4.59¨ö ¡è 2 ¨ú Cent<br>
</div>
<div>Oats CBOT Sept 2.76¨ù ¡é 12¨ö Cents<br>
</div>
<div><br>
</div>
<div>Canadian $ Sept 0.7406 ¡é 48 Points<br>
</div>
<div><br>
</div>
<div><br>
</div>
<div>CORN: <br>
</div>
<div>U.S. corn ratings continue to decline. The latest report estimates that 69% of the corn is rated as good-to-excellent. This is down from 71% the previous week.<br>
</div>
<div>The USDA recently reported that U.S. exporters have sold 1.762 million tonnes of corn to China. This sale is for the 2020/2021 marketing year. This is the largest single day corn purchase on record, surpassing the previous record of 1.45 million tonnes
set in December 1994.<br>
</div>
<div><br>
</div>
<div>SOYBEANS: <br>
</div>
<div>U.S. soybeans are reported to be 68% good-to-excellent this past week. This rating is down from 71% a week earlier. 48% of the soybean crop is in the blooming stage. This is well above the five-year average of 40%.<br>
</div>
<div>China has been on a buying spree for soybeans as they have imported 11.16 million tonnes in June. This is an increase from the 9.38 million tonnes imported in the month of May and indicates a 71% increase in imports from a year earlier. Much of these imports
have originated in Brazil. Additionally, the U.S. has sold 129,000 tonnes of soybeans this week to China, for a delivery in the 2020/2021 crop year.<br>
</div>
<div><br>
</div>
<div>WHEAT:<br>
</div>
<div>Wheat futures have been in an upward trend since the end of June. One driver of this rally can be attributed to the fact that Europe and Russia are seeing lower than expected wheat yields this year.<br>
</div>
<div>The USDA has reduced the U.S. wheat production to 49.6 million tonnes, down 1.5 million tonnes from last month and down 2.7 million tonnes from last year. Hard red winter wheat is estimated at 19.3 million tonnes, down 3.3 million tonnes from last year.
Soft red winter wheat production is expected to be 7.6 million tonnes, up 1.1 million tonnes from last year.<br>
</div>
<div><br>
</div>
<div>2020 harvest prices for July 15, 2020, at the market close, are as follows:<br>
</div>
<div><br>
</div>
<div>SWW at $263.33/mt ($7.17/bu), HRW at $279.70/mt ($7.61/bu) + protein, <br>
</div>
<div>HRS at $ 239.27/mt ($6.51/bu) + protein, and SRW at $263.33 /mt ($7.17/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">
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<span style="background:#FDFDFD">This Farm Market News product is sponsored by:</span><br>
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