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<u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, November 4</u></div>
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<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.3135 down 0.0030</u></div>
<div><u>Chicago corn closed slightly to moderately higher.</u></div>
<div><u><br>
</u></div>
<div><u> DEC20 HI 4.06 DEC21 HI 3.93 1/2</u></div>
<div><u> LOW 3.96 1/2 LOW 3.87 1/2</u></div>
<div><u> CLOSE4.05 1/4 Up 4 1/4 CLOSE 3.93 1/4 Up 3 1/2</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 +MAR21+MAR21+MAR21</u></div>
<div><u>CK Low 1.25 5.30 208.75 0.90 4.83 190.25</u></div>
<div><u>CK High 1.30 5.35 210.72 0.90 4.83 190.25</u></div>
<div><u>CK Avg 1.28 0.01 5.34 210.06 0.90 -0.25 4.83 190.25</u></div>
<div><u>Essex Cty 1.30 5.35 210.72 0.90 4.83 190.25</u></div>
<div><u>Mdsx Low 1.25 5.30 208.75 0.90 4.83 190.25</u></div>
<div><u>Mdsx High 1.30 5.35 210.72 0.90 4.83 190.25</u></div>
<div><u>Mdsx Avg 1.28 0.00 5.33 209.73 0.90 -0.25 4.83 190.25</u></div>
<div><u>Hensall 1.30 5.35 210.72 0.92 4.85 190.90</u></div>
<div><u>Bruce 1.30 5.35 210.72 0.90 4.83 190.25</u></div>
<div><u>Putnam 1.25 5.30 208.75 0.90 4.83 190.25</u></div>
<div><u>Burford 1.30 5.35 210.72 0.90 4.83 190.25</u></div>
<div><u>Port Perry 1.40 5.45 214.66 0.95 4.88 192.22</u></div>
<div><u>Norfolk 1.30 5.35 210.72 0.90 4.83 190.25</u></div>
<div><u>Palmerston 1.26 5.31 209.14 0.85 4.78 188.28</u></div>
<div><u>Varna 1.30 5.35 210.72 0.90 4.83 190.25</u></div>
<div><u>Trenton 1.55 5.60 220.56 1.00 4.93 194.18</u></div>
<div><u>Winchester 1.55 5.60 220.56 1.25 5.18 204.03</u></div>
<div><u>North Gower 1.46 5.51 217.02 1.28 5.21 205.21</u></div>
<div><u>Vankleek Hil 1.39 5.44 214.26 1.04 4.97 195.76</u></div>
<div><u>Huron FOB 1.33 1.41 1.43N/A 5.38 211.90N/A</u></div>
<div><u>Kent FOB 1.45 5.50 216.62 0.95 4.88 192.22</u></div>
<div><u>Lamb FOB 1.35 5.40 212.69 1.00 4.93 194.18</u></div>
<div><u>Mdsx FOB 1.40 1.50 1.55 1.60 5.45 214.66N/A</u></div>
<div><u>FOB SW Que 1.75 5.80 228.43N/A</u></div>
<div><u>Track 1.71 5.76 226.66N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A 1.55 1.60 1.04 4.97 195.76</u></div>
<div><u>Jhnstwn-Eth N/A 1.54 1.61 1.66 1.37 5.30 208.75</u></div>
<div><u>Aylmer-Eth 1.60 1.68 1.70 1.75 5.65 222.53 1.20 5.13 202.06</u></div>
<div><u>Sarn-Eth 1.55 1.60 1.70N/A 5.60 220.56N/A</u></div>
<div><u>London-Ing N/A 1.70 1.75 1.80 1.25 5.18 204.03</u></div>
<div><u>Pt.Colb-Ing N/A N/A N/A N/A N/A</u></div>
<div><u>Cardnl-Ing 1.75N/A 1.75 1.80 5.80 228.43 1.38 5.31 209.14</u></div>
<div><u>W O Feed 1.81 5.86 230.72</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.92 5.97 235.13</u></div>
<div><u>Toledo El. 0.00 4.05 159.54 -0.26 3.67 144.49</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Pt. Colb 1.70 5.75 226.47 1.00 4.93 194.18</u></div>
<div><u>Prescott 1.78 5.83 229.62 1.38 5.31 209.14</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>HI SD CRN 1.30 5.35 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 1.3135 down 0.0030</u></div>
<div><u>Chicago soybeans closed moderately higher to higher.</u></div>
<div><u><br>
</u></div>
<div><u> JAN21 HI 10.88 NOV21 HI 9.91 1/2</u></div>
<div><u> LOW 10.55 3/4 LOW 9.73 1/4</u></div>
<div><u> CLOSE10.86 1/4 Up 22 CLOSE 9.90 1/2 Up 11 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 +JAN21+JAN21+MAR21</u></div>
<div><u>CK Low 2.90 13.76 505.69 2.40 12.31 452.13</u></div>
<div><u>CK High 3.00 13.86 509.36 2.50 12.41 455.81</u></div>
<div><u>CK Average 2.92 -0.37 13.78 506.42 2.43 -0.50 12.33 453.11</u></div>
<div><u>Essex Cty 2.80 13.66 502.01 2.40 12.31 452.13</u></div>
<div><u>Mdsx Low 2.90 13.76 505.69 2.40 12.31 452.13</u></div>
<div><u>Mdsx High 2.91 13.77 506.05 2.43 12.34 453.23</u></div>
<div><u>Mdsx Average2.91 -0.38 13.77 505.87 2.42 -0.51 12.32 452.68</u></div>
<div><u>Hensall 2.93 13.80 506.91 2.40 12.31 452.13</u></div>
<div><u>Bruce 2.95 13.81 507.52 2.40 12.31 452.13</u></div>
<div><u>Putnam 2.90 13.76 505.69 2.40 12.31 452.13</u></div>
<div><u>Burford 3.00 13.86 509.36 2.49 12.40 455.44</u></div>
<div><u>Port Perry 2.92 13.78 506.42 2.41 12.32 452.50</u></div>
<div><u>Norfolk 2.90 13.76 505.69 2.40 12.31 452.13</u></div>
<div><u>Palmerston 3.00 13.86 509.36 2.54 12.45 457.28</u></div>
<div><u>Varna 2.95 13.81 507.52 2.40 12.31 452.13</u></div>
<div><u>Trenton 2.95 13.81 507.52 2.50 12.41 455.81</u></div>
<div><u>Winchester 3.08 13.94 512.30 2.69 12.60 462.79</u></div>
<div><u>North Gower 3.03 13.89 510.46 2.63 12.54 460.58</u></div>
<div><u>Vankleek Hil2.84 13.70 503.48 2.55 12.46 457.64</u></div>
<div><u>Huron FOB 2.92 3.12 2.87 N/A 13.78 506.42 N/A</u></div>
<div><u>Kent FOB 3.05 13.91 511.20 2.40 12.31 452.13</u></div>
<div><u>Lambton FOB 3.10 13.96 513.03 2.45 12.36 453.97</u></div>
<div><u>Mdsx FOB 3.18 3.32 2.99 3.03 14.04 515.97 2.57 12.48 458.38</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Windsor 3.04 13.90 510.83 2.60 12.51 459.48</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton 3.50 14.36 527.73 2.80 12.71 466.83</u></div>
<div><u>Prescott 3.10 13.96 513.03 2.82 12.73 467.56</u></div>
<div><u>Port Colborn3.53 14.39 528.83 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 0.00 10.86 399.13 -0.46 9.45 347.08</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.3135 down 0.0030</u></div>
<div><u>Chicago wheat closed narrowly mixed.</u></div>
<div><u>DEC20 HI 6.10 1/2 JUL21 HI 6.04 3/4</u></div>
<div><u> LOW 5.97 3/4 LOW 5.94 1/4</u></div>
<div><u> CLOSE 6.06 Down 2 CLOSE 6.03 3/4 Up 1 3/4</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly higher.</u></div>
<div><u>DEC20 HI 5.58 1/2 SEP21 HI 5.86</u></div>
<div><u> LOW 5.48 LOW 5.77 1/2</u></div>
<div><u> CLOSE 5.57 Up 4 3/4 CLOSE 5.85 1/2 Up 4 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 1.44 1.64 1.44 1.29</u></div>
<div><u>CAD $/bu 7.50 7.70 7.50 6.86</u></div>
<div><u>CAD $/tonne 275.57 282.81 275.57 251.92</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 1.15 N/A N/A N/A 1.15 N/A</u></div>
<div><u>London 1.26 1.33 1.07 N/A 1.51 1.51 1.11 N/A</u></div>
<div><u>Hensall 1.35 N/A 1.15 N/A 1.40 N/A 1.15 N/A</u></div>
<div><u>Trenton N/A N/A N/A N/A N/A N/A 1.20 N/A</u></div>
<div><u>Bruce 1.35 1.35 1.15 1.40 1.30 1.35 1.15 1.25</u></div>
<div><u>Essex N/A N/A 1.15 N/A N/A N/A 1.15 N/A</u></div>
<div><u>Norwich 1.35 N/A 1.15 N/A 1.40 N/A 1.15 N/A</u></div>
<div><u>Port Hope N/A N/A 1.15 N/A N/A N/A 1.15 N/A</u></div>
<div><u>Kent Bridge 1.35 N/A 1.15 N/A 1.40 N/A 1.15 N/A</u></div>
<div><u>Chatham N/A N/A 1.15 N/A N/A N/A 1.15 N/A</u></div>
<div><u>Brigden N/A N/A 1.15 N/A N/A N/A 1.20 N/A</u></div>
<div><u>Palmerston N/A 1.30 1.14 1.15 N/A 1.48 1.15 0.93</u></div>
<div><u>Varna 1.35 1.35 1.15 N/A 1.35 1.35 1.15 N/A</u></div>
<div><u>Mitchell 1.35 1.40 1.15 N/A 1.40 1.45 1.15 N/A</u></div>
<div><u>Thornton N/A N/A N/A 1.56 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 1.35 1.20 0.90 N/A 1.62 1.32 0.90</u></div>
<div><u>W O Feed 1.75</u></div>
<div><u><br>
</u></div>
<div><u>TERMINAL</u></div>
<div><u>Port Colbor N/A N/A 1.66 N/A N/A N/A 1.55 N/A</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Toledo FM N/A N/A 1.90 N/A N/A N/A 2.01 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 5.86US 7.70CA 5.99US 7.85CA</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 1.44 1.04</u></div>
<div><u>CAD $/bu 7.64 7.78 7.47 6.89</u></div>
<div><u>CAD $/tonne 280.89 285.71 274.63 253.30</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 618.08</u></div>
<div><u>DDG's FOB Srn & Aylm 280.00 - 285.00</u></div>
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Ontario Grain Market Commentary for November 4, 2020</div>
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By Todd Austin, Grain Farmers of Ontario</div>
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<div style="">Wednesday, November 4, 2020</div>
<div style="">COMMODITY PERIOD PRICE WEEKLY MOVEMENT</div>
<div style="">Corn CBOT Dec 4.05 卹 ∟ 3 取 Cents</div>
<div style="">Soybeans CBOT Jan 10.76 卹 ∟ 31 卦 Cents</div>
<div style="">Wheat CBOT Dec 6.06 ⊿ 2 取 Cents</div>
<div style="">Wheat Minn. Dec 5.57 ∟ 5 Cents</div>
<div style="">Wheat Kansas Dec 5.59 取 ∟ 16 卦 Cents</div>
<div style="">Oats CBOT Dec 2.96 取 ∟ 取 Cents</div>
<div style=""></div>
<div style="">Canadian $ Sept 0.7617 ∟ 95 Points</div>
<div style=""><br>
</div>
<div style=""><br>
</div>
<div style="">CORN: </div>
<div style="">82% of the U.S. corn crop has been harvested, up 10% from the past week. Michigan harvest is 53% complete while Ohio has completed 41% of their corn crop.</div>
<div style="">According to the Asian Times Financial, China is considering permits for a million of tonnes of additional corn imports over the coming year due to a huge and growing demand for animal feed in China. Such new orders would place China as the world's
top corn importer and could drive up global prices for corn and other grains.</div>
<div style=""><br>
</div>
<div style="">SOYBEANS: </div>
<div style="">The U.S. soybean crop is 87% complete, ahead of the five-year average of 83%. Closer to home, Michigan soybean harvest is 79% finished and Ohio is 77% complete.</div>
<div style="">Brazilian farmers are trying to make up for lost time, working as quickly as possible to get their soybeans planted as quickly as possible. In Mato Grosso, farmers started planting on October 25 and plan to be finished by the end of the first
week of November. In Parana, the department of Rural Economics reported that 61% of expected soybean acres have been planted. This is an increase of 29% from the previous week.</div>
<div style=""><br>
</div>
<div style="">WHEAT:</div>
<div style="">The U.S. winter wheat crop national ratings are at their lowest in 20 years. The wheat crop is rated 43% good-to-excellent. These low ratings are attributed to drought conditions over much of the central and southern Plains.</div>
<div style="">China recently sold 2.7 million tonnes of wheat from state reserves. With increasingly high corn prices and tight supplies, feed buyers were stocking up on wheat as a substitute for corn.</div>
<div style="">2020 crop year prices for October 21, 2020, at the market close, are as follows:</div>
<div style=""><br>
</div>
<div style="">SWW at $275.46/mt ($7.50/bu), HRW at $282.69/mt ($7.69/bu) + protein,
</div>
<div style="">HRS at $ 251.82/mt ($6.85/bu) + protein, and SRW at $275.46/mt ($7.50/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>
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<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>
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<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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