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<u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, September 23</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 1.3366 up 0.0067</u></div>
<div><u>Chicago corn closed slightly lower.</u></div>
<div><u><br>
</u></div>
<div><u> DEC20 HI 3.70 1/4 DEC20 HI 3.70 1/4</u></div>
<div><u> LOW 3.65 3/4 LOW 3.65 3/4</u></div>
<div><u> CLOSE3.68 1/2 Down 3/4 CLOSE 3.68 1/2 Down 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 5.29 208.06 1.10 4.79 188.38</u></div>
<div><u>CK High 1.65 5.34 210.03 1.10 4.79 188.38</u></div>
<div><u>CK Avg 1.64 0.30 5.33 209.70 1.10 -0.10 4.79 188.38</u></div>
<div><u>Essex Cty 1.65 5.34 210.03 1.10 4.79 188.38</u></div>
<div><u>Mdsx Low 1.65 5.34 210.03 1.10 4.79 188.38</u></div>
<div><u>Mdsx High 1.65 5.34 210.03 1.10 4.79 188.38</u></div>
<div><u>Mdsx Avg 1.65 0.31 5.34 210.03 1.10 -0.10 4.79 188.38</u></div>
<div><u>Hensall 1.67 5.35 210.69 1.12 4.80 189.03</u></div>
<div><u>Bruce 1.65 5.34 210.03 1.05 4.74 186.41</u></div>
<div><u>Putnam 1.65 5.34 210.03 1.10 4.79 188.38</u></div>
<div><u>Burford 1.65 5.34 210.03 1.10 4.79 188.38</u></div>
<div><u>Port Perry 1.65 5.34 210.03 1.20 4.89 192.31</u></div>
<div><u>Norfolk 1.65 5.34 210.03 1.10 4.79 188.38</u></div>
<div><u>Palmerston 1.75 5.44 213.97 1.11 4.80 188.77</u></div>
<div><u>Varna 1.65 5.34 210.03 1.10 4.79 188.38</u></div>
<div><u>Trenton 1.60 5.29 208.06 1.20 4.89 192.31</u></div>
<div><u>Winchester N/A 1.50 5.19 204.12</u></div>
<div><u>North Gower 1.65 5.34 210.03 1.45 5.14 202.16</u></div>
<div><u>Vankleek Hil 1.36 5.05 198.61 1.22 4.91 193.10</u></div>
<div><u>Huron FOB 2.07 5.76 226.56 1.20 4.89 192.31</u></div>
<div><u>Kent FOB 1.85 5.54 217.90 1.20 4.89 192.31</u></div>
<div><u>Lamb FOB 1.83 5.52 217.12 1.10 4.79 188.38</u></div>
<div><u>Mdsx FOB 2.10 1.20 1.20N/A 5.79 227.75 1.20 4.89 192.31</u></div>
<div><u>FOB SW Que 1.72 5.41 212.79N/A</u></div>
<div><u>Track 2.12 5.80 228.34N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A N/A 1.45 N/A</u></div>
<div><u>Jhnstwn-Eth N/A N/A 1.56 1.59 1.56 5.25 206.49</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 4.94 194.28</u></div>
<div><u>London-Ing N/A 1.65 1.45 1.45 1.45 5.14 202.16</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* 5.34 210.03</u></div>
<div><u>W O Feed 2.40 6.09 239.71</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 2.11 5.80 228.14</u></div>
<div><u>Toledo El. -0.20 3.48 137.18 -0.27 3.42 134.56</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Pt. Colb 2.20 5.89 231.68 1.50 5.19 204.12</u></div>
<div><u>Prescott 1.89 5.58 219.48 1.75 5.44 213.97</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>HI SD CRN 1.10 4.78 1/2</u></div>
<div><u>*Wet Bid</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.3366 up 0.0067</u></div>
<div><u>Chicago soybeans closed mixed.</u></div>
<div><u><br>
</u></div>
<div><u> NOV20 HI 10.25 1/2 NOV21 HI 9.61 3/4</u></div>
<div><u> LOW 10.11 LOW 9.54</u></div>
<div><u> CLOSE10.14 1/2 Down 5 1/4 CLOSE 9.56 Down 3</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 2.69 12.84 471.61 2.45 12.01 441.29</u></div>
<div><u>CK High 2.70 12.85 471.97 2.49 12.05 442.76</u></div>
<div><u>CK Average 2.70 -0.54 12.84 471.91 2.46 -0.56 12.02 441.59</u></div>
<div><u>Essex Cty 2.70 12.85 471.97 2.45 12.01 441.29</u></div>
<div><u>Mdsx Low 2.67 12.82 470.87 2.45 12.01 441.29</u></div>
<div><u>Mdsx High 2.70 12.85 471.97 2.47 12.03 442.03</u></div>
<div><u>Mdsx Average2.69 -0.55 12.83 471.42 2.46 -0.55 12.02 441.66</u></div>
<div><u>Hensall 2.70 12.85 471.97 2.45 12.01 441.29</u></div>
<div><u>Bruce 2.70 12.85 471.97 2.45 12.01 441.29</u></div>
<div><u>Putnam 2.70 12.85 471.97 2.45 12.01 441.29</u></div>
<div><u>Burford 2.74 12.89 473.44 2.54 12.10 444.60</u></div>
<div><u>Port Perry 2.66 12.81 470.50 2.46 12.02 441.66</u></div>
<div><u>Norfolk 2.70 12.85 471.97 2.45 12.01 441.29</u></div>
<div><u>Palmerston 2.69 12.84 471.61 2.53 12.09 444.23</u></div>
<div><u>Varna 2.70 12.85 471.97 2.45 12.01 441.29</u></div>
<div><u>Trenton 2.70 12.85 471.97 2.45 12.01 441.29</u></div>
<div><u>Winchester 2.82 12.97 476.38 2.62 12.18 447.54</u></div>
<div><u>North Gower 2.77 12.92 474.55 2.51 12.07 443.50</u></div>
<div><u>Vankleek Hil2.93 13.08 480.42 2.56 12.12 445.33</u></div>
<div><u>Huron FOB 2.82 12.97 476.38 N/A</u></div>
<div><u>Kent FOB 2.70 12.85 471.97 2.45 12.01 441.29</u></div>
<div><u>Lambton FOB 2.75 12.90 473.81 2.40 11.96 439.45</u></div>
<div><u>Mdsx FOB 2.85 2.87 3.00 N/A 13.00 477.48 2.66 12.22 449.01</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Windsor 3.22 13.37 491.08 2.62 12.18 447.54</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton 3.20 13.35 490.34 2.85 12.41 455.99</u></div>
<div><u>Prescott 3.15 13.30 488.51 2.80 12.36 454.15</u></div>
<div><u>Port Colborn3.26 13.41 492.55 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.27 9.88 362.94 -0.47 9.09 334.11</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.3366 up 0.0067</u></div>
<div><u>Chicago wheat closed moderately lower.</u></div>
<div><u>DEC20 HI 5.60 1/4 JUL21 HI 5.70</u></div>
<div><u> LOW 5.47 1/4 LOW 5.58 1/2</u></div>
<div><u> CLOSE 5.49 Down 9 CLOSE 5.60 3/4 Down 7 1/4</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly to moderately lower.</u></div>
<div><u>DEC20 HI 5.41 3/4 SEP21 HI 5.67 3/4</u></div>
<div><u> LOW 5.32 1/2 LOW 5.67 3/4</u></div>
<div><u> CLOSE 5.33 Down 6 3/4 CLOSE 5.67 3/4 Down 3 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 1.38 1.58 1.38 1.33</u></div>
<div><u>CAD $/bu 6.87 7.07 6.87 6.66</u></div>
<div><u>CAD $/tonne 252.44 259.81 252.44 244.58</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 1.10 N/A</u></div>
<div><u>London 1.19 1.26 1.06 N/A 1.56 1.56 1.16 N/A</u></div>
<div><u>Hensall 1.30 N/A 1.00 N/A 1.35 N/A 1.10 N/A</u></div>
<div><u>Trenton N/A N/A 0.95 N/A N/A N/A 1.05 N/A</u></div>
<div><u>Bruce 1.00 1.15 0.95 0.95 1.15 1.25 1.05 N/A</u></div>
<div><u>Essex N/A N/A 1.05 N/A N/A N/A 1.15 N/A</u></div>
<div><u>Norwich 1.30 N/A 1.00 N/A 1.35 N/A 1.10 N/A</u></div>
<div><u>Port Hope N/A N/A 1.00 N/A N/A N/A 1.10 N/A</u></div>
<div><u>Kent Bridge 1.30 N/A 1.00 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 1.15 N/A</u></div>
<div><u>Brigden N/A N/A 1.05 N/A N/A N/A 1.15 N/A</u></div>
<div><u>Palmerston N/A 1.52 1.12 1.19 N/A 1.67 1.20 0.83</u></div>
<div><u>Varna 1.10 1.20 1.05 N/A 1.30 1.25 1.15 N/A</u></div>
<div><u>Mitchell 1.30 1.35 1.00 N/A 1.35 1.45 1.10 N/A</u></div>
<div><u>Thornton N/A N/A N/A 1.22 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 1.40 1.25 1.00 N/A 1.71 1.46 0.92</u></div>
<div><u>W O Feed 1.66</u></div>
<div><u><br>
</u></div>
<div><u>TERMINAL</u></div>
<div><u>Port Colbor N/A N/A 1.52 N/A N/A N/A 1.56 N/A</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Toledo FM N/A N/A 1.85 N/A N/A N/A 2.01 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 5.39US 7.20CA 5.56US 7.42CA</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 1.74 1.88 1.54 1.10</u></div>
<div><u>CAD $/bu 7.35 7.48 7.15 6.78</u></div>
<div><u>CAD $/tonne 270.09 275.00 262.74 249.00</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 545.21</u></div>
<div><u>DDG's FOB Srn & Aylm 250.00</u></div>
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<u><br>
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<br>
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<div style="font-family: "Courier New", monospace; font-size: 10pt; color: rgb(0, 0, 0);">
Ontario Grain Market Commentary for September 23, 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, September 23, 2020<br>
</div>
<div>COMMODITY PERIOD PRICE WEEKLY MOVEMENT</div>
<div>Corn CBOT Dec 3.68¨ö ¡é 3 ¨ù Cents</div>
<div>Soybeans CBOT Nov 10.14¨ö ¡è 3 ¨ù Cents</div>
<div>Wheat CBOT Dec 5.49 ¡è 7 Cents</div>
<div>Wheat Minn. Dec 5.33 ¡è 1 ¨ö Cents</div>
<div>Wheat Kansas Dec 4.84¨ù ¡è 9 ¨ù Cents</div>
<div>Oats CBOT Dec 2.87¨ú ¡é 14 ¨ú Cents</div>
<div></div>
<div>Canadian $ Sept 0.7479 ¡é 123 Points</div>
<div><br>
</div>
<div><br>
</div>
<div>CORN: </div>
<div>According to the USDA, wet conditions have slowed the U.S. corn harvest. As of September 20, 8% of the U.S. corn has been harvested. This is slightly behind the 5-year average of 10%, but ahead of last year¡¯s pace of 6%.</div>
<div>The U.S. Energy Information Administration says recent production of ethanol averaged 926,000 barrels a day, down 14,000 on the week and 77,000 on the year. The industry continues to struggle with a slower blending demand this year. The USDA¡¯s next corn
for ethanol use estimate is due on October 9th.</div>
<div><br>
</div>
<div>SOYBEANS: </div>
<div>As of September 20, 6% of the U.S. soybean crop has been harvested. This harvest pace is ahead of last year¡¯s 2% and on par with the five-year average. Planting of the 2020/2021 soybean crop in the Brazilian state of Mato Grosso has begun. However, at
this point, only farmers with irrigation have begun planting. Those without are waiting on much needed precipitation before they begin their season.</div>
<div><br>
</div>
<div>WHEAT:</div>
<div>The U.S. winter wheat crop is 20% planted; this figure is up 10% from last week. </div>
<div>During the past week wheat values rose. This occurrence was led by higher export values for Russian wheat as well as dryness concerns for both the U.S. and the Black Sea regions. It was noted that the recent Egyptian purchase of Russian wheat was $8-$10
per tonnes higher than the previous tender in the beginning of September.</div>
<div><br>
</div>
<div>2020 harvest prices for September 23, 2020, at the market close, are as follows:</div>
<div><br>
</div>
<div>SWW at $252.51/mt ($6.87/bu), HRW at $259.88/mt ($7.07/bu) + protein, </div>
<div>HRS at $ 244.65/mt ($6.66/bu) + protein, and $252.51/mt ($6.87/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" 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>
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