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<u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, July 29</u></div>
<div style="font-family: "Courier New", monospace; font-size: 10pt; color: rgb(0, 0, 0);">
<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.3339 down 0.0021</u></div>
<div><u>Chicago corn closed slightly to moderately lower.</u></div>
<div><u><br>
</u></div>
<div><u> SEP20 HI 3.21 1/2 DEC20 HI 3.31 1/2</u></div>
<div><u> LOW 3.15 1/4 LOW 3.26</u></div>
<div><u> CLOSE3.15 1/2 Down 4 1/2 CLOSE 3.26 1/4 Down 3 3/4</u></div>
<div><u><br>
</u></div>
<div><u> OLD CROP BASIS NEW CROP BASIS</u></div>
<div><u>Location Spot 1mt 2mt 3mt U.S. $/bu $/mt Cntrct U.S. $/bu $/mt</u></div>
<div><u>ELEVATORS +SEP20+DEC20+DEC20</u></div>
<div><u>CK Low 1.55 4.71 185.23 0.95 4.21 165.84</u></div>
<div><u>CK High 1.55 4.71 185.23 1.00 4.26 167.81</u></div>
<div><u>CK Avg 1.55 0.37 4.71 185.23 0.96 -0.10 4.22 166.17</u></div>
<div><u>Essex Cty 1.55 4.71 185.23 0.95 4.21 165.84</u></div>
<div><u>Mdsx Low 1.55 4.71 185.23 0.95 4.21 165.84</u></div>
<div><u>Mdsx High 1.55 4.71 185.23 1.00 4.26 167.81</u></div>
<div><u>Mdsx Avg 1.55 0.37 4.71 185.23 0.98 -0.09 4.24 166.82</u></div>
<div><u>Hensall 1.57 4.72 185.88 1.02 4.28 168.46</u></div>
<div><u>Bruce 1.55 4.71 185.23 1.00 4.26 167.81</u></div>
<div><u>Putnam 1.55 4.71 185.23 0.95 4.21 165.84</u></div>
<div><u>Burford 1.55 4.71 185.23 0.95 4.21 165.84</u></div>
<div><u>Port Perry 1.55 4.71 185.23 1.25 4.51 177.65</u></div>
<div><u>Norfolk 1.55 4.71 185.23 0.95 4.21 165.84</u></div>
<div><u>Palmerston 1.46 4.62 181.68 0.96 4.22 166.23</u></div>
<div><u>Varna 1.55 4.71 185.23 1.00 4.26 167.81</u></div>
<div><u>Trenton 1.55 4.71 185.23 1.25 4.51 177.65</u></div>
<div><u>Winchester 1.55 4.71 185.23 1.40 4.66 183.55</u></div>
<div><u>North Gower 1.50 4.66 183.26 1.45 4.71 185.52</u></div>
<div><u>Vankleek HilN/A 1.17 4.43 174.50</u></div>
<div><u>Huron FOB 1.77 4.93 193.89 1.07 4.33 170.56</u></div>
<div><u>Kent FOB 1.75 4.91 193.10 1.05 4.31 169.78</u></div>
<div><u>Lamb FOB 1.72 4.88 191.92 1.00 4.26 167.81</u></div>
<div><u>Mdsx FOB N/A 1.80 1.80N/A 1.10 4.36 171.74</u></div>
<div><u>FOB SW Que 2.09 5.25 206.49N/A</u></div>
<div><u>Track 1.93 5.08 199.99N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A 1.83N/A N/A</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A N/A N/A</u></div>
<div><u>Aylmer-Eth 1.92 2.00 2.00 1.80 5.08 199.79 1.25 4.51 177.65</u></div>
<div><u>Sarn-Eth N/A N/A 2.00N/A 1.15 4.41 173.71</u></div>
<div><u>London-Ing N/A N/A N/A 1.40 1.30 4.56 179.62</u></div>
<div><u>Pt.Colb-Ing N/A N/A N/A N/A N/A</u></div>
<div><u>Cardnl-Ing N/A N/A N/A 2.05 1.55 4.81 189.46</u></div>
<div><u>W O Feed 1.98 5.13 202.06</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.86 5.02 197.43</u></div>
<div><u>Toledo El. -0.07 3.09 121.58 -0.27 3.00 117.92</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Pt. Colb 2.00 5.16 202.94 1.35 4.61 181.59</u></div>
<div><u>Prescott 1.78 4.94 194.28 1.40 4.66 183.55</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>HI SD CRN 1.00 4.26 1/4</u></div>
<div><u>*Wet Bid</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.3339 down 0.0021</u></div>
<div><u>Chicago soybeans closed narrowly mixed.</u></div>
<div><u><br>
</u></div>
<div><u> NOV20 HI 8.89 1/4 NOV20 HI 8.89 1/4</u></div>
<div><u> LOW 8.83 1/2 LOW 8.83 1/2</u></div>
<div><u> CLOSE8.85 1/4 Down 2 1/4 CLOSE 8.85 1/4 Down 2 1/4</u></div>
<div><u><br>
</u></div>
<div><u> OLD CROP NEW CROP</u></div>
<div><u>Location Basis 1mt 2mt 3mt U.S. $/bu $/mt Basis U.S. $/bu $/mt</u></div>
<div><u>ELEVATORS +NOV20+NOV20+NOV20</u></div>
<div><u>CK Low 2.60 11.45 420.81 2.50 11.35 417.13</u></div>
<div><u>CK High 2.65 11.50 422.64 2.60 11.45 420.81</u></div>
<div><u>CK Average 2.62 -0.25 11.47 421.42 2.53 -0.33 11.39 418.36</u></div>
<div><u>Essex Cty 2.60 11.45 420.81 2.45 11.30 415.30</u></div>
<div><u>Mdsx Low 2.58 11.43 420.07 2.48 11.33 416.40</u></div>
<div><u>Mdsx High 2.60 11.45 420.81 2.50 11.35 417.13</u></div>
<div><u>Mdsx Average2.59 -0.27 11.44 420.44 2.49 -0.36 11.34 416.77</u></div>
<div><u>Hensall 2.67 11.52 423.26 2.57 11.42 419.58</u></div>
<div><u>Bruce 2.60 11.45 420.81 2.50 11.35 417.13</u></div>
<div><u>Putnam 2.60 11.45 420.81 2.50 11.35 417.13</u></div>
<div><u>Burford 2.65 11.50 422.64 2.55 11.40 418.97</u></div>
<div><u>Port Perry 2.60 11.45 420.81 2.50 11.35 417.13</u></div>
<div><u>Norfolk 2.60 11.45 420.81 2.50 11.35 417.13</u></div>
<div><u>Palmerston 2.54 11.39 418.60 2.48 11.33 416.40</u></div>
<div><u>Varna 2.64 11.49 422.28 2.60 11.45 420.81</u></div>
<div><u>Trenton N/A 2.60 11.45 420.81</u></div>
<div><u>Winchester 2.65 11.50 422.64 2.65 11.50 422.64</u></div>
<div><u>North Gower 2.62 11.47 421.54 2.65 11.50 422.64</u></div>
<div><u>Vankleek Hil N/A 2.80 11.65 428.16</u></div>
<div><u>Huron FOB 2.77 11.62 427.05 2.63 11.48 421.91</u></div>
<div><u>Kent FOB 2.60 11.45 420.81 2.50 11.35 417.13</u></div>
<div><u>Lambton FOB 2.60 11.45 420.81 2.65 11.50 422.64</u></div>
<div><u>Mdsx FOB N/A 2.77 2.61 N/A 2.58 11.43 420.07</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Windsor 2.85 11.70 429.99 2.69 11.54 424.11</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton 3.10 11.95 439.18 2.95 11.80 433.67</u></div>
<div><u>Prescott N/A 3.00 11.85 435.50</u></div>
<div><u>Port Colborn2.98 11.83 434.77 2.86 11.71 430.36</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 0.00 8.85 325.27 -0.33 8.52 313.00</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.3339 down 0.0021</u></div>
<div><u>Chicago wheat closed slightly to moderately higher.</u></div>
<div><u>SEP20 HI 5.33 1/4 JUL21 HI 5.47</u></div>
<div><u> LOW 5.23 1/2 LOW 5.40 1/2</u></div>
<div><u> CLOSE 5.32 3/4 Up 9 1/4 CLOSE 5.46 1/2 Up 6</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly higher.</u></div>
<div><u>SEP20 HI 5.12 3/4 SEP21 HI 5.63 1/2</u></div>
<div><u> LOW 5.06 1/2 LOW 5.60 1/4</u></div>
<div><u> CLOSE 5.11 Up 4 3/4 CLOSE 5.63 1/2 Up 3 1/4</u></div>
<div><u><br>
</u></div>
<div><u>GFO Cash Wheat Prices - DEL Terminal</u></div>
<div><u>Harvest 20 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)</u></div>
<div><u>Basis 1.51 1.78 1.51 1.11</u></div>
<div><u>CAD $/bu 6.84 7.11 6.84 6.22</u></div>
<div><u>CAD $/tonne 251.31 261.11 251.31 228.39</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Direct MarkHarvest 2020 Harvest 2021</u></div>
<div><u> DELIVERED BASIS DELIVERED BASIS</u></div>
<div><u>Location SWW(C) HRW(C) SRW(C) HRS(M) SWW(C) HRW(C) SRW(C) HRS(M)</u></div>
<div><u>ELEVATORS</u></div>
<div><u>Brgssvll N/A N/A 1.10 N/A N/A N/A 1.10 N/A</u></div>
<div><u>London 1.24 1.48 1.04 N/A 1.50 1.57 1.10 N/A</u></div>
<div><u>Hensall 1.35 N/A 1.10 N/A 1.35 N/A 1.10 N/A</u></div>
<div><u>Trenton N/A N/A 1.10 N/A N/A N/A 1.10 N/A</u></div>
<div><u>Bruce 1.20 1.45 1.10 0.95 1.20 1.45 1.10 N/A</u></div>
<div><u>Essex N/A N/A 1.05 N/A N/A N/A 1.10 N/A</u></div>
<div><u>Norwich 1.35 N/A 1.10 N/A 1.35 N/A 1.10 N/A</u></div>
<div><u>Port Hope N/A N/A 1.10 N/A N/A N/A 1.10 N/A</u></div>
<div><u>Kent Bridge 1.35 N/A 1.10 N/A 1.35 N/A 1.10 N/A</u></div>
<div><u>Chatham N/A N/A 1.05 N/A N/A N/A 1.10 N/A</u></div>
<div><u>Brigden N/A N/A 1.05 N/A N/A N/A 1.10 N/A</u></div>
<div><u>Palmerston N/A 1.52 1.12 1.05 N/A 1.65 1.18 0.75</u></div>
<div><u>Varna 1.35 1.50 1.10 N/A 1.35 1.50 1.10 N/A</u></div>
<div><u>Mitchell 1.35 1.45 1.10 N/A 1.35 1.45 1.10 N/A</u></div>
<div><u>Thornton N/A N/A N/A 1.26 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 1.60 1.40 1.05 N/A 1.66 1.36 1.00</u></div>
<div><u>W O Feed 1.63</u></div>
<div><u><br>
</u></div>
<div><u>TERMINAL</u></div>
<div><u>Port Colbor N/A N/A 1.51 N/A N/A N/A 1.50 N/A</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Toledo FM N/A N/A 1.91 N/A N/A N/A N/A N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 5.38US 7.17CA 5.42US 7.23CA</u></div>
<div><u><br>
</u></div>
<div><u>GFO Contract Wheat Prices - DEL Terminal</u></div>
<div><u>Harvest 21 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)</u></div>
<div><u>Basis 1.57 1.70 1.50 1.09</u></div>
<div><u>CAD $/bu 7.03 7.17 6.97 6.73</u></div>
<div><u>CAD $/tonne 258.46 263.37 256.00 247.17</u></div>
<div><u><br>
</u></div>
<div><u>(C)-Basis over the Chicago Board of Trade futures</u></div>
<div><u>(M)-Basis over the Minneapolis Grain Exchange</u></div>
<div><u><br>
</u></div>
<div><u>FEED GRAINS</u></div>
<div><u>FOB Hm Soymeal 477.20</u></div>
<div><u>DDG's FOB Srn & Aylm 185.00 - 205.00</u></div>
<br>
---</div>
<div style="font-family: "Courier New", monospace; font-size: 10pt; color: rgb(0, 0, 0);">
Ontario Grain Market Commentary for July 29, 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>Wednesday, July 29, 2020<br>
</div>
<div>COMMODITY PERIOD PRICE WEEKLY MOVEMENT</div>
<div>Corn CBOT Sept 3.15卦 ⊿ 12 Cents</div>
<div>Soybeans CBOT Sept 8.84卦 ⊿ 9卦 Cents</div>
<div>Wheat CBOT Sept 5.32取 ⊿ 2取 Cents</div>
<div>Wheat Minn. Sept 5.11 ⊿ 3取 Cents</div>
<div>Wheat Kansas Sept 4.45取 ⊿ 2取 Cents</div>
<div>Oats CBOT Sept 2.82 ∟ 1卹 Cents</div>
<div></div>
<div>Canadian $ Sept 0.7493 ∟ 42 Points</div>
<div><br>
</div>
<div><br>
</div>
<div>CORN: </div>
<div>U.S. corn ratings improved this past week to 72% good-to-excellent, up 3 percentage points from last week. Nine states reported improvements, while eight states indicated declines in conditions.</div>
<div> Corn prices ticked higher in the beginning of July on acreage and production estimate reductions. Demand concerns of the U.S. corn crop have eroded those futures gains. Gasoline usage is down, creating a domino effect on ethanol production. Export markets
are crucial for an increase in demand for U.S. corn. Recently, China has purchased both new and old crop corn from the U.S. However, future sales competition from Brazil and the Ukraine may slow this export pace or prevent U.S. sales from expanding further.</div>
<div><br>
</div>
<div>SOYBEANS: </div>
<div>According to the most recent USDA Crop Progress Report, soybean ratings are also sitting at 72% good-to-excellent. Twelve states have indicated that the soybean crop has improved, while five states noted a decline in conditions.</div>
<div> Soybean futures have been trending higher since May, although recent increases in the crop condition are helping to reinforce expectations of a large U.S. soybean harvest. This has put some pressure on the futures market over the past few days. On the
demand side, both China and Mexico continue to buy U.S. soybeans.</div>
<div><br>
</div>
<div>WHEAT:</div>
<div>According to the International Grains Council (IGC), world wheat production in 2020-2021 is forecast at 762 million tonnes. This is down 6 million tonnes from the June report. The 2021 global wheat carryout is expected to be 288 million tonnes, 2 million
tonnes lower than the previous estimate. The carryover is 12 million tonnes higher that the 2020 carryover.
</div>
<div> Wheat harvest continues in both the U.S. and Ontario. Approximately 81% of the U.S. winter wheat crop is harvested. In Ontario, combines continue to roll, between local rain showers. Quality overall remains good.</div>
<div><br>
</div>
<div>2020 harvest prices for July 29, 2020, at the market close, are as follows:</div>
<div><br>
</div>
<div>SWW at $251.44/mt ($6.84/bu), HRW at $261.25/mt ($7.11/bu) + protein, </div>
<div>HRS at $ 230.48/mt ($6.27/bu) + protein, and SRW at $251.44 /mt ($6.84/bu).</div>
<div><br>
</div>
<div>We offer on farm bids for 2020 wheat and 2021 harvest prices as well, please call
</div>
<div>1-800-265-0550 for more information.</div>
<div>---</div>
<div><br>
</div>
<div>
<p class="MsoNoSpacing"><span style="font-size:10.0pt;font-family:"Courier New"">Blair Andrews<o:p> </o:p></span></p>
<p class="MsoNoSpacing"><span style="font-size:10.0pt;font-family:"Courier New"">Editor, AgriLink and Farm Market News
<o:p> </o:p></span></p>
<p class="MsoNoSpacing"><span style="font-size:10.0pt;font-family:"Courier New"">University of Guelph, Ridgetown Campus<o:p> </o:p></span></p>
<p class="MsoNoSpacing"><span style="font-size:10.0pt;font-family:"Courier New""><o:p> </o:p></span></p>
<p class="MsoNoSpacing"><span style="font-size:10.0pt;font-family:"Courier New"">Email:fmnc@uoguelph.ca<span style="mso-spacerun:yes">
</span><o:p> </o:p></span></p>
<p class="MsoNoSpacing"><span style="font-size:10.0pt;font-family:"Courier New"">Tel. 519-674-1500 x 63577
<o:p> </o:p></span></p>
<p class="MsoNoSpacing"><span style="font-size:10.0pt;font-family:"Courier New"">Fax. 519-674-1530<br>
<br>
<span style="background:#FDFDFD">Click on this link:<span class="apple-converted-space"><span style="color:#333333"> </span></span></span><span class="object"><span style="color:#336699">farmmarketnews-unsubscribe@list.gfo.ca</span></span><span class="apple-converted-space"><span style="color:#333333;background:#FDFDFD"> </span></span><span style="background:#FDFDFD"> to
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<o:p> </o:p></span></span></p>
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