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<u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, September 16</u></div>
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<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.3154 down 0.0026</u></div>
<div><u>Chicago corn closed moderately higher.</u></div>
<div><u><br>
</u></div>
<div><u> DEC20 HI 3.72 DEC20 HI 3.72</u></div>
<div><u> LOW 3.61 3/4 LOW 3.61 3/4</u></div>
<div><u> CLOSE3.71 3/4 Up 5 3/4 CLOSE 3.71 3/4 Up 5 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 +DEC20+DEC20+MAR21</u></div>
<div><u>CK Low 1.60 5.32 209.34 1.00 4.72 185.72</u></div>
<div><u>CK High 1.65 5.37 211.31 1.00 4.72 185.72</u></div>
<div><u>CK Avg 1.63 0.35 5.35 210.65 1.00 -0.14 4.72 185.72</u></div>
<div><u>Essex Cty 1.65 5.37 211.31 1.00 4.72 185.72</u></div>
<div><u>Mdsx Low 1.65 5.37 211.31 1.00 4.72 185.72</u></div>
<div><u>Mdsx High 1.65 5.37 211.31 1.00 4.72 185.72</u></div>
<div><u>Mdsx Avg 1.65 0.36 5.37 211.31 1.00 -0.14 4.72 185.72</u></div>
<div><u>Hensall 1.67 5.38 211.97 1.02 4.73 186.38</u></div>
<div><u>Bruce 1.60 5.32 209.34 1.00 4.72 185.72</u></div>
<div><u>Putnam 1.65 5.37 211.31 1.00 4.72 185.72</u></div>
<div><u>Burford 1.65 5.37 211.31 1.00 4.72 185.72</u></div>
<div><u>Port Perry 1.65 5.37 211.31 1.20 4.92 193.59</u></div>
<div><u>Norfolk 1.65 5.37 211.31 1.00 4.72 185.72</u></div>
<div><u>Palmerston 1.68 5.40 212.49 1.04 4.76 187.29</u></div>
<div><u>Varna 1.65 5.37 211.31 1.00 4.72 185.72</u></div>
<div><u>Trenton 1.65 5.37 211.31 1.20 4.92 193.59</u></div>
<div><u>Winchester N/A 1.50 5.22 205.40</u></div>
<div><u>North Gower 1.60 5.32 209.34 1.45 5.17 203.44</u></div>
<div><u>Vankleek HilN/A 1.17 4.89 192.41</u></div>
<div><u>Huron FOB 1.92 5.64 221.94 1.18 4.90 192.81</u></div>
<div><u>Kent FOB 1.85 5.57 219.18 1.10 4.82 189.66</u></div>
<div><u>Lamb FOB 1.83 5.55 218.40 1.10 4.82 189.66</u></div>
<div><u>Mdsx FOB 1.80 1.15 1.15N/A 5.52 217.21 1.15 4.87 191.63</u></div>
<div><u>FOB SW Que 1.49 5.21 205.01N/A</u></div>
<div><u>Track 2.16 5.88 231.39N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth 1.89N/A N/A 1.32 5.61 220.76N/A</u></div>
<div><u>Jhnstwn-Eth N/A N/A 1.49 1.52 1.49 5.21 205.01</u></div>
<div><u>Aylmer-Eth N/A N/A N/A N/A N/A</u></div>
<div><u>Sarn-Eth N/A N/A 1.25N/A 1.25 4.97 195.56</u></div>
<div><u>London-Ing 1.90 1.95 1.45 1.45 5.62 221.15 1.45 5.17 203.44</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 1.70 1.65 1.50 1.65* 5.37 211.31</u></div>
<div><u>W O Feed 2.30 6.01 236.74</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 2.03 5.75 226.27</u></div>
<div><u>Toledo El. -0.20 3.52 138.58 -0.26 3.45 135.98</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Pt. Colb 2.10 5.82 229.02 1.40 5.12 201.47</u></div>
<div><u>Prescott 1.83 5.55 218.40 1.66 5.38 211.70</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>HI SD CRN 1.00 4.71 3/4</u></div>
<div><u>*Wet Bid</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.3154 down 0.0026</u></div>
<div><u>Chicago soybeans closed slightly to moderately higher.</u></div>
<div><u><br>
</u></div>
<div><u> NOV20 HI 10.13 3/4 NOV20 HI 10.13 3/4</u></div>
<div><u> LOW 9.85 LOW 9.85</u></div>
<div><u> CLOSE10.11 1/4 Up 19 3/4 CLOSE 10.11 1/4 Up 19 3/4</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+JAN21</u></div>
<div><u>CK Low 2.55 12.66 465.27 2.55 12.66 465.27</u></div>
<div><u>CK High 2.60 12.71 467.10 2.60 12.71 467.10</u></div>
<div><u>CK Average 2.57 -0.47 12.69 466.12 2.58 -0.47 12.69 466.43</u></div>
<div><u>Essex Cty 2.55 12.66 465.27 2.60 12.71 467.10</u></div>
<div><u>Mdsx Low 2.55 12.66 465.27 2.55 12.66 465.27</u></div>
<div><u>Mdsx High 2.57 12.68 466.00 2.57 12.68 466.00</u></div>
<div><u>Mdsx Average2.56 -0.48 12.67 465.63 2.56 -0.49 12.67 465.63</u></div>
<div><u>Hensall 2.55 12.66 465.27 2.55 12.66 465.27</u></div>
<div><u>Bruce 2.55 12.66 465.27 2.55 12.66 465.27</u></div>
<div><u>Putnam 2.55 12.66 465.27 2.55 12.66 465.27</u></div>
<div><u>Burford 2.64 12.75 468.57 2.64 12.75 468.57</u></div>
<div><u>Port Perry 2.56 12.67 465.63 2.56 12.67 465.63</u></div>
<div><u>Norfolk 2.55 12.66 465.27 2.60 12.71 467.10</u></div>
<div><u>Palmerston 2.68 12.79 470.04 2.62 12.73 467.84</u></div>
<div><u>Varna N/A 2.55 12.66 465.27</u></div>
<div><u>Trenton N/A 2.50 12.61 463.43</u></div>
<div><u>Winchester N/A 2.73 12.84 471.88</u></div>
<div><u>North Gower 2.70 12.81 470.78 2.73 12.84 471.88</u></div>
<div><u>Vankleek Hil N/A 2.65 12.76 468.94</u></div>
<div><u>Huron FOB 2.85 12.96 476.29 2.72 12.83 471.51</u></div>
<div><u>Kent FOB 2.55 12.66 465.27 2.60 12.71 467.10</u></div>
<div><u>Lambton FOB 2.75 12.86 472.62 2.60 12.71 467.10</u></div>
<div><u>Mdsx FOB 2.82 2.69 2.76 N/A 12.93 475.19 2.69 12.80 470.41</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Windsor N/A 2.99 13.10 481.43</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton 2.95 13.06 479.96 3.05 13.16 483.64</u></div>
<div><u>Prescott N/A 3.00 13.11 481.80</u></div>
<div><u>Port Colborn3.10 13.21 485.48 3.17 13.28 488.05</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.26 9.85 361.90 -0.26 9.85 361.89</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.3154 down 0.0026</u></div>
<div><u>Chicago wheat closed slightly higher.</u></div>
<div><u>DEC20 HI 5.43 JUL21 HI 5.56</u></div>
<div><u> LOW 5.33 1/4 LOW 5.47 1/4</u></div>
<div><u> CLOSE 5.42 Up 3 3/4 CLOSE 5.55 3/4 Up 4</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly to moderately higher.</u></div>
<div><u>DEC20 HI 5.32 1/4 SEP21 HI 5.68</u></div>
<div><u> LOW 5.22 3/4 LOW 5.62 1/2</u></div>
<div><u> CLOSE 5.31 1/2 Up 7 1/4 CLOSE 5.68 Up 4 3/4</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 1.71 1.38 1.22</u></div>
<div><u>CAD $/bu 6.93 7.13 6.80 6.53</u></div>
<div><u>CAD $/tonne 254.72 261.97 249.89 239.98</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 0.95 N/A N/A N/A 1.05 N/A</u></div>
<div><u>London 1.04 1.10 0.90 N/A 1.41 1.41 1.01 N/A</u></div>
<div><u>Hensall 1.20 N/A 0.95 N/A 1.30 N/A 1.05 N/A</u></div>
<div><u>Trenton N/A N/A 0.95 N/A N/A N/A 1.00 N/A</u></div>
<div><u>Bruce 1.00 1.15 0.95 0.95 1.10 1.25 1.00 N/A</u></div>
<div><u>Essex N/A N/A 0.95 N/A N/A N/A 1.05 N/A</u></div>
<div><u>Norwich 1.20 N/A 0.95 N/A 1.30 N/A 1.05 N/A</u></div>
<div><u>Port Hope N/A N/A 0.95 N/A N/A N/A 1.00 N/A</u></div>
<div><u>Kent Bridge 1.20 N/A 0.95 N/A 1.30 N/A 1.05 N/A</u></div>
<div><u>Chatham N/A N/A 0.95 N/A N/A N/A 1.05 N/A</u></div>
<div><u>Brigden N/A N/A 0.95 N/A N/A N/A 1.05 N/A</u></div>
<div><u>Palmerston N/A 1.39 0.99 1.08 N/A 1.58 1.12 0.75</u></div>
<div><u>Varna 1.05 1.25 0.95 N/A 1.25 1.30 1.00 N/A</u></div>
<div><u>Mitchell 1.20 1.30 0.95 N/A 1.30 1.40 1.05 N/A</u></div>
<div><u>Thornton N/A N/A N/A 1.02 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 1.40 1.25 1.00 N/A 1.68 1.41 0.88</u></div>
<div><u>W O Feed 1.53</u></div>
<div><u><br>
</u></div>
<div><u>TERMINAL</u></div>
<div><u>Port Colbor N/A N/A 1.37 N/A N/A N/A 1.41 N/A</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Toledo FM N/A N/A 1.71 N/A N/A N/A 1.89 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 5.32US 7.00CA 5.51US 7.25CA</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 1.63 1.76 1.43 1.01</u></div>
<div><u>CAD $/bu 7.19 7.32 6.99 6.69</u></div>
<div><u>CAD $/tonne 264.06 268.90 256.80 245.80</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 493.51</u></div>
<div><u>DDG's FOB Srn & Aylm 240.00</u></div>
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<br>
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---</div>
<div style="font-family: "Courier New", monospace; font-size: 10pt; color: rgb(0, 0, 0);">
Ontario Grain Market Commentary for September 16,2020</div>
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<span style="color: rgb(0, 0, 0); font-family: "Courier New", monospace; font-size: 10pt;">By Todd Austin, Grain Farmers of Ontario</span><br>
</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);">
<span style="color: rgb(0, 0, 0); font-family: "Courier New", monospace; font-size: 10pt;">
<div>Wednesday, September 16, 2020</div>
<div><br>
</div>
<div>COMMODITY PERIOD PRICE WEEKLY MOVEMENT</div>
<div>Corn CBOT Dec 3.71 ¨ú ¡è 11 ¨ö Cents</div>
<div>Soybeans CBOT Nov 10.11 ¨ù ¡è 32 ¨ö Cents</div>
<div>Wheat CBOT Dec 5.42 ¡é 1 ¨ú Cents</div>
<div>Wheat Minn. Dec 5.31 ¨ö ¡é 4 Cents</div>
<div>Wheat Kansas Dec 4.75 ¡è 4 Cents</div>
<div>Oats CBOT Dec 2.73 ¡é 3 ¨ú Cents</div>
<div></div>
<div>Canadian $ Sept 0.7602 ¡è 5 Points</div>
<div><br>
</div>
<div><br>
</div>
<div>CORN: </div>
<div>The USDA has pegged 2020 corn production at 14.9 billion bushels, down 2% from August estimates but up 9% from the 13.617 billion bushels produced in 2019. The production forecast is based on 83.5 million harvested acres and an average yield of 178.5 bushels
per acre. The previous year was based on 81.322 million acres with a yield of 167.4 bushels per acre.
</div>
<div>China has increased their forecasts for corn imports for the 2020 / 2021 year, which are expected to be 7 million tonnes. This is up 2 million tonnes from previous estimates. China has ramped up corn imports as domestic supply tightens.</div>
<div><br>
</div>
<div>SOYBEANS: </div>
<div>Soybean futures recently hit and exceeded $10.00 per bushel as demand and crop weather concerns remain. China has been buying US soybeans at a very strong pace since July of this year; they have booked close to 15 million tonnes of U.S. soybeans for the
2020/2021 year thus far. Before the U.S. China trade war, China is expected to buy nearly 90% of their annual U.S. soybean purchases by the end of December before turning to Brazil.
</div>
<div>The USDA has recently adjusted U.S. soybean production to 4.313 billion bushels, which is down 3% from their August predictions. 2019 production was 3.552 billion bushels. 2020 production is based on an estimate of 83.02 million acres harvested with an
average yield of 51.9 bushels per acre.</div>
<div><br>
</div>
<div>WHEAT:</div>
<div>According to the USDA, 10% of the U.S. winter crop has been planted. This pace is just ahead of the five-year average of 8%.
</div>
<div>Egypt has accelerated wheat purchases this year. Egypt¡¯s supply ministry has been instructed to keep six months of strategic supplies available. They have procured 2.4 million tonnes of wheat in the July to August time frame. The USDA Foreign Agricultural
Service forecasts that Egypt will import 13 million tonnes of wheat this marketing year.</div>
<div><br>
</div>
<div>2020 harvest prices for September 16, 2020, at the market close, are as follows:</div>
<div><br>
</div>
<div>SWW at $254.71/mt ($6.93/bu), HRW at $261.96/mt ($7.13/bu) + protein, </div>
<div>HRS at $ 249.88/mt ($6.53/bu) + protein, and SRW at $249.88/mt ($6.80/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><br>
</div>
<div>----</div>
<div><br>
</div>
<div>
<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>
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<span style="background:#FDFDFD">This Farm Market News product is sponsored by:</span><br>
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