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<u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, August 26</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 1.3157 down 0.0027</u></div>
<div><u>Chicago corn closed slightly lower.</u></div>
<div><u><br>
</u></div>
<div><u> SEP20 HI 3.41 1/4 DEC20 HI 3.55</u></div>
<div><u> LOW 3.37 1/4 LOW 3.51 1/4</u></div>
<div><u> CLOSE3.40 1/2 Down 1/4 CLOSE 3.54 1/4 Down 1/4</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 +DEC20+DEC20+DEC20</u></div>
<div><u>CK Low 1.70 5.11 200.97 0.95 4.49 176.86</u></div>
<div><u>CK High 1.79 5.20 204.52 1.00 4.54 178.83</u></div>
<div><u>CK Avg 1.76 0.52 5.17 203.40 0.98 -0.10 4.53 178.17</u></div>
<div><u>Essex Cty 1.75 5.16 202.94 1.00 4.54 178.83</u></div>
<div><u>Mdsx Low 1.75 5.16 202.94 0.95 4.49 176.86</u></div>
<div><u>Mdsx High 1.79 5.20 204.52 1.00 4.54 178.83</u></div>
<div><u>Mdsx Avg 1.77 0.53 5.18 203.73 0.98 -0.10 4.52 177.85</u></div>
<div><u>Hensall 1.71 5.12 201.50 1.02 4.56 179.49</u></div>
<div><u>Bruce 1.70 5.11 200.97 0.95 4.49 176.86</u></div>
<div><u>Putnam 1.79 5.20 204.52 1.00 4.54 178.83</u></div>
<div><u>Burford 1.75 5.16 202.94 0.95 4.49 176.86</u></div>
<div><u>Port Perry 1.70 5.11 200.97 1.20 4.74 186.70</u></div>
<div><u>Norfolk 1.75 5.16 202.94 1.00 4.54 178.83</u></div>
<div><u>Palmerston 1.66 5.07 199.40 1.05 4.59 180.80</u></div>
<div><u>Varna 1.65 5.06 199.01 1.00 4.54 178.83</u></div>
<div><u>Trenton 1.60 5.01 197.04 1.20 4.74 186.70</u></div>
<div><u>Winchester 1.70 5.11 200.97 1.40 4.94 194.58</u></div>
<div><u>North Gower 1.75 5.16 202.94 1.40 4.94 194.58</u></div>
<div><u>Vankleek HilN/A 1.39 4.93 194.18</u></div>
<div><u>Huron FOB 1.82 5.23 205.70 1.10 4.64 182.77</u></div>
<div><u>Kent FOB 1.90 5.31 208.85 1.05 4.59 180.80</u></div>
<div><u>Lamb FOB 1.92 5.33 209.64 1.00 4.54 178.83</u></div>
<div><u>Mdsx FOB 1.85 1.80N/A N/A 5.26 206.88 1.10 4.64 182.77</u></div>
<div><u>FOB SW Que 2.22 5.63 221.45N/A</u></div>
<div><u>Track 2.17 5.58 219.48N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A 1.85N/A N/A N/A</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A N/A 1.52 5.06 199.30</u></div>
<div><u>Aylmer-Eth N/A N/A 1.85N/A 1.25 4.79 188.67</u></div>
<div><u>Sarn-Eth N/A N/A N/A N/A 1.20 4.74 186.70</u></div>
<div><u>London-Ing N/A N/A 2.05N/A 1.40 4.94 194.58</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 1.80N/A 1.55 5.09 200.48</u></div>
<div><u>W O Feed 2.39 5.80 228.30</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 2.24 5.65 222.23</u></div>
<div><u>Toledo El. -0.07 3.34 131.46 -0.26 3.28 129.12</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Pt. Colb 2.10 5.51 216.72 1.45 4.99 196.55</u></div>
<div><u>Prescott 1.56 4.97 195.46 1.72 5.26 207.18</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>HI SD CRN 1.00 4.54 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 1.3157 down 0.0027</u></div>
<div><u>Chicago soybeans closed narrowly mixed.</u></div>
<div><u><br>
</u></div>
<div><u> NOV20 HI 9.25 3/4 NOV20 HI 9.25 3/4</u></div>
<div><u> LOW 9.19 1/2 LOW 9.19 1/2</u></div>
<div><u> CLOSE9.24 1/4 Up 4 CLOSE 9.24 1/4 Up 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 2.50 11.74 431.46 2.50 11.74 431.46</u></div>
<div><u>CK High 2.55 11.79 433.30 2.55 11.79 433.30</u></div>
<div><u>CK Average 2.52 -0.30 11.77 432.32 2.51 -0.30 11.75 431.83</u></div>
<div><u>Essex Cty 2.55 11.79 433.30 2.55 11.79 433.30</u></div>
<div><u>Mdsx Low 2.50 11.74 431.46 2.49 11.73 431.10</u></div>
<div><u>Mdsx High 2.52 11.76 432.20 2.50 11.74 431.46</u></div>
<div><u>Mdsx Average2.51 -0.31 11.75 431.83 2.50 -0.31 11.74 431.28</u></div>
<div><u>Hensall 2.53 11.78 432.69 2.50 11.74 431.46</u></div>
<div><u>Bruce 2.50 11.74 431.46 2.50 11.74 431.46</u></div>
<div><u>Putnam 2.50 11.74 431.46 2.50 11.74 431.46</u></div>
<div><u>Burford 2.59 11.83 434.77 2.56 11.80 433.67</u></div>
<div><u>Port Perry 2.54 11.78 432.93 2.51 11.75 431.83</u></div>
<div><u>Norfolk 2.55 11.79 433.30 2.55 11.79 433.30</u></div>
<div><u>Palmerston 2.45 11.69 429.63 2.48 11.72 430.73</u></div>
<div><u>Varna 2.55 11.79 433.30 2.50 11.74 431.46</u></div>
<div><u>Trenton N/A 2.50 11.74 431.46</u></div>
<div><u>Winchester N/A 2.55 11.79 433.30</u></div>
<div><u>North Gower 2.60 11.84 435.14 2.55 11.79 433.30</u></div>
<div><u>Vankleek Hil N/A 2.61 11.85 435.50</u></div>
<div><u>Huron FOB 2.66 11.90 437.34 2.55 11.79 433.30</u></div>
<div><u>Kent FOB 2.55 11.79 433.30 2.55 11.79 433.30</u></div>
<div><u>Lambton FOB 2.73 11.97 439.91 2.66 11.90 437.34</u></div>
<div><u>Mdsx FOB 2.66 2.66 N/A N/A 11.90 437.34 2.66 11.90 437.34</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Windsor 2.91 12.15 446.53 2.71 11.95 439.18</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton 3.05 12.29 451.67 3.00 12.24 449.83</u></div>
<div><u>Prescott N/A 2.94 12.18 447.63</u></div>
<div><u>Port Colborn3.07 12.31 452.41 3.07 12.31 452.41</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.07 9.18 337.19 -0.26 8.98 329.95</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.3157 down 0.0027</u></div>
<div><u>Chicago wheat closed slightly higher.</u></div>
<div><u>SEP20 HI 5.32 3/4 JUL21 HI 5.53 1/2</u></div>
<div><u> LOW 5.23 1/4 LOW 5.44</u></div>
<div><u> CLOSE 5.32 Up 4 3/4 CLOSE 5.53 Up 5</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly higher.</u></div>
<div><u>SEP20 HI 5.18 SEP21 HI 5.67 3/4</u></div>
<div><u> LOW 5.11 3/4 LOW 5.62 3/4</u></div>
<div><u> CLOSE 5.17 1/4 Up 3/4 CLOSE 5.67 3/4 Up 2</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 1.55 1.75 1.42 1.30</u></div>
<div><u>CAD $/bu 6.87 7.07 6.74 6.48</u></div>
<div><u>CAD $/tonne 252.35 259.61 247.52 237.97</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 1.00 N/A N/A N/A 1.00 N/A</u></div>
<div><u>London 1.13 1.37 1.00 N/A 1.40 1.42 1.00 N/A</u></div>
<div><u>Hensall 1.25 N/A 1.00 N/A 1.30 N/A 1.00 N/A</u></div>
<div><u>Trenton N/A N/A 1.00 N/A N/A N/A 1.00 N/A</u></div>
<div><u>Bruce 0.95 1.15 0.90 0.95 1.05 1.35 0.95 N/A</u></div>
<div><u>Essex N/A N/A 1.00 N/A N/A N/A 1.05 N/A</u></div>
<div><u>Norwich 1.25 N/A 1.00 N/A 1.30 N/A 1.00 N/A</u></div>
<div><u>Port Hope N/A N/A 1.03 N/A N/A N/A 1.00 N/A</u></div>
<div><u>Kent Bridge 1.25 N/A 1.00 N/A 1.30 N/A 1.00 N/A</u></div>
<div><u>Chatham N/A N/A 1.00 N/A N/A N/A 1.05 N/A</u></div>
<div><u>Brigden N/A N/A 1.00 N/A N/A N/A 1.05 N/A</u></div>
<div><u>Palmerston N/A 1.41 1.02 1.24 N/A 1.58 1.12 0.75</u></div>
<div><u>Varna 1.20 1.40 1.00 N/A 1.25 1.40 1.00 N/A</u></div>
<div><u>Mitchell 1.25 1.35 1.00 N/A 1.30 1.40 1.00 N/A</u></div>
<div><u>Thornton N/A N/A N/A 1.15 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 1.60 1.35 1.25 N/A 1.71 1.41 0.95</u></div>
<div><u>W O Feed 1.61</u></div>
<div><u><br>
</u></div>
<div><u>TERMINAL</u></div>
<div><u>Port Colbor N/A N/A 1.40 N/A N/A N/A 1.40 N/A</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Toledo FM N/A N/A 1.68 N/A N/A N/A N/A N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 5.32US 7.00CA 5.48US 7.20CA</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 1.61 1.74 1.41 0.99</u></div>
<div><u>CAD $/bu 7.14 7.27 6.94 6.67</u></div>
<div><u>CAD $/tonne 262.18 267.01 254.94 245.16</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 453.61</u></div>
<div><u>DDG's FOB Srn & Aylm 200.00 - 220.00</u></div>
<div><u><br>
</u></div>
<div>---</div>
<div><br>
</div>
<div>Ontario Grain Market Commentary for August 26, 2020</div>
<div>By Todd Austin, Grain Farmers of Ontario</div>
<div><br>
<div style="">Wednesday, August 26, 2020<br>
</div>
<div style="">COMMODITY PERIOD PRICE WEEKLY MOVEMENT</div>
<div style="">Corn CBOT Sept 3.40¨ö ¡è 15¨ö Cents</div>
<div style="">Soybeans CBOT Sept 9.19¨ö ¡è 7 Cents</div>
<div style="">Wheat CBOT Sept 5.32 ¡è 20 Cents</div>
<div style="">Wheat Minn. Sept 5.17¨ö ¡è 7¨ö Cents</div>
<div style="">Wheat Kansas Sept 4.50¨ù ¡è 12¨ú Cents</div>
<div style="">Oats CBOT Sept 2.63¨ù ¡é 4¨ö Cents</div>
<div style=""></div>
<div style="">Canadian $ Sept 0.7609 ¡è 35 Points</div>
<div style=""><br>
</div>
<div style="">CORN:<br>
</div>
<div style="">The USDA corn condition report estimates 64% of the U.S. corn is rated good-to-excellent. This is down 5% from a week ago. The State of Iowa has reported that their corn crop is 50% good -to-excellent versus 59% a week ago. Hot and dry conditions
are now expected in much of the U.S. corn belt over the next few days.</div>
<div style=""><br>
</div>
<div style="">Corn futures are trending higher mainly due to expectations of increased Chinese demand. According to a recent USDA export sales data, China has bought 408,000 tonnes of U.S. corn for shipment in the 2020/2021 marketing year. This corn sale was
the largest since the July 30 announcement of nearly 2 million tonnes in sales to China.</div>
<div style=""><br>
</div>
<div style="">SOYBEANS: </div>
<div style="">Brazil has recently revised data on their past seven soybean crops. Conab has increased soybean production over those seven years by 14.4 million tonnes. Most of the increase is from the previous three years. Conab estimates that Brazil will produce
133.5 million tonnes of soybeans next season, based on expected acreage and yield increases. Chinese demand and a weak local currency are factors explaining this increase in production.</div>
<div style=""><br>
</div>
<div style="">China continues to make soybean purchases. They have bought 8.18 million tonnes of Brazilian soybeans in July. This is an increase from July 2019, but a decrease from June¡¯s 10.51 million tonnes. China had also imported approximately 38,000 tonnes
of U.S. soybeans in July. This is down from 268,000 tonnes in June and down significantly from the 912,000 tonnes in July 2019.</div>
<div style=""><br>
</div>
<div style="">WHEAT:</div>
<div style="">Egypt¡¯s GASC has recently purchased 530,000 tonnes of Russian wheat for two shipping periods in October. It appears that only Black sea region wheat was offered in this tender. GASC bought 230,000 tonnes of wheat for shipment October 11-20, and
300,000 tonnes of wheat from shipment October 21-31. On August 13 GASC bought 415,000 tonnes of Russian wheat.</div>
<div style=""><br>
</div>
<div style="">The World Food Program will supply 50,000 tonnes of wheat flour to Lebanon. This will help stabilize the national supply and help ensure there is no food shortage as the country recovers from the explosion at the Port of Beirut. Prior to the explosion,
this port was responsible for 90% of Lebanon¡¯s food imports. The port was also home to a majority of Lebanon¡¯s grain storage capacity.</div>
<div style=""><br>
</div>
<div style="">2020 harvest prices for August 26, 2020, at the market close, are as follows:</div>
<div style=""><br>
</div>
<div style="">SWW at $252.07/mt ($6.86/bu), HRW at $259.31/mt ($7.06/bu) + protein,
</div>
<div style="">HRS at $ 237.70/mt ($6.47/bu) + protein, and SRW at $247.24/mt ($6.73/bu).</div>
<div style=""><br>
</div>
<div style="">We offer on farm bids for 2020 wheat and 2021 harvest prices as well, please call
</div>
<div style="">1-800-265-0550 for more information.</div>
<div style=""><br>
</div>
<div style="">---</div>
<div style=""><br>
</div>
<div style="">
<p class="MsoNoSpacing" 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<o:p> </o:p></span></p>
<p class="MsoNoSpacing" 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
<o:p> </o:p></span></p>
<p class="MsoNoSpacing" 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<o:p> </o:p></span></p>
<p class="MsoNoSpacing" 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>
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<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" 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
<o:p> </o:p></span></p>
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<span style="font-size:10.0pt;font-family:"Courier New"">Fax. 519-674-1530<br>
<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<o:p> </o:p></span></span></p>
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