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<u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, November 11</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 1.307 up 0.0065</u></div>
<div><u>Chicago corn closed slightly to moderately lower.</u></div>
<div><u><br>
</u></div>
<div><u> DEC20 HI 4.28 DEC21 HI 4.08</u></div>
<div><u> LOW 4.16 1/4 LOW 4.02 3/4</u></div>
<div><u> CLOSE4.17 1/4 Down 5 3/4 CLOSE 4.05 1/4 Down 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 5.42 213.47 0.90 4.95 194.97</u></div>
<div><u>CK High 1.25 5.42 213.47 0.90 4.95 194.97</u></div>
<div><u>CK Avg 1.25 -0.02 5.42 213.47 0.90 -0.26 4.95 194.97</u></div>
<div><u>Essex Cty 1.25 5.42 213.47 0.90 4.95 194.97</u></div>
<div><u>Mdsx Low 1.25 5.42 213.47 0.90 4.95 194.97</u></div>
<div><u>Mdsx High 1.25 5.42 213.47 0.90 4.95 194.97</u></div>
<div><u>Mdsx Avg 1.25 -0.02 5.42 213.47 0.90 -0.26 4.95 194.97</u></div>
<div><u>Hensall 1.27 5.44 214.13 0.92 4.97 195.63</u></div>
<div><u>Bruce 1.30 5.47 215.44 0.95 5.00 196.94</u></div>
<div><u>Putnam 1.25 5.42 213.47 0.90 4.95 194.97</u></div>
<div><u>Burford 1.30 5.47 215.44 0.90 4.95 194.97</u></div>
<div><u>Port Perry 1.35 5.52 217.41 1.00 5.05 198.91</u></div>
<div><u>Norfolk 1.25 5.42 213.47 0.90 4.95 194.97</u></div>
<div><u>Palmerston 1.27 5.44 214.26 0.84 4.89 192.61</u></div>
<div><u>Varna 1.25 5.42 213.47 0.90 4.95 194.97</u></div>
<div><u>Trenton 1.45 5.62 221.35 0.95 5.00 196.94</u></div>
<div><u>Winchester 1.55 5.72 225.28 1.25 5.30 208.75</u></div>
<div><u>North Gower 1.45 5.62 221.35 1.25 5.30 208.75</u></div>
<div><u>Vankleek Hil 1.38 5.55 218.59 1.03 5.08 200.09</u></div>
<div><u>Huron FOB 1.31 1.48 1.50 1.53 5.48 215.84N/A</u></div>
<div><u>Kent FOB 1.35 5.52 217.41 0.95 5.00 196.94</u></div>
<div><u>Lamb FOB 1.43 5.60 220.56 1.00 5.05 198.91</u></div>
<div><u>Mdsx FOB 1.35 1.50 1.55 1.65 5.52 217.41N/A</u></div>
<div><u>FOB SW Que 1.71 5.88 231.58N/A</u></div>
<div><u>Track 1.71 5.88 231.39N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A 1.56 1.62 1.08 5.13 202.06</u></div>
<div><u>Jhnstwn-Eth N/A 1.56 1.62 1.67 1.34 5.39 212.29</u></div>
<div><u>Aylmer-Eth 1.60 1.70 1.73 1.77 5.77 227.25 1.20 5.25 206.78</u></div>
<div><u>Sarn-Eth 1.55 1.60 1.70N/A 5.72 225.28N/A</u></div>
<div><u>London-Ing N/A N/A 1.75 1.80 1.25 5.30 208.75</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 N/A 1.30 5.35 210.72</u></div>
<div><u>W O Feed 1.83 6.00 236.31</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.93 6.10 240.24</u></div>
<div><u>Toledo El. -0.07 4.11 161.69 -0.26 3.79 149.27</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Pt. Colb 1.70 5.87 231.19 1.00 5.05 198.91</u></div>
<div><u>Prescott 1.70 5.87 231.19 1.37 5.42 213.47</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>HI SD CRN 1.25 5.42 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 1.307 up 0.0065</u></div>
<div><u>Chicago soybeans closed slightly higher.</u></div>
<div><u><br>
</u></div>
<div><u> JAN21 HI 11.62 1/4 NOV21 HI 10.32 3/4</u></div>
<div><u> LOW 11.45 LOW 10.21 3/4</u></div>
<div><u> CLOSE11.52 1/2 Up 6 1/2 CLOSE 10.32 Up 7 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 +JAN21+JAN21+MAR21</u></div>
<div><u>CK Low 2.91 14.44 530.40 2.38 12.70 466.65</u></div>
<div><u>CK High 3.00 14.53 533.70 2.45 12.77 469.22</u></div>
<div><u>CK Average 2.97 -0.44 14.49 532.54 2.44 -0.54 12.76 468.79</u></div>
<div><u>Essex Cty 2.90 14.43 530.03 2.45 12.77 469.22</u></div>
<div><u>Mdsx Low 2.92 14.45 530.76 2.39 12.71 467.01</u></div>
<div><u>Mdsx High 2.95 14.48 531.87 2.45 12.77 469.22</u></div>
<div><u>Mdsx Average2.94 -0.46 14.46 531.31 2.42 -0.55 12.74 468.11</u></div>
<div><u>Hensall 2.98 14.51 533.09 2.45 12.77 469.22</u></div>
<div><u>Bruce 2.85 14.38 528.19 2.40 12.72 467.38</u></div>
<div><u>Putnam 2.95 14.48 531.87 2.45 12.77 469.22</u></div>
<div><u>Burford 2.99 14.52 533.33 2.46 12.78 469.58</u></div>
<div><u>Port Perry 2.91 14.44 530.40 2.38 12.70 466.65</u></div>
<div><u>Norfolk 3.00 14.53 533.70 2.45 12.77 469.22</u></div>
<div><u>Palmerston 3.13 14.66 538.48 2.55 12.87 472.89</u></div>
<div><u>Varna 3.00 14.53 533.70 2.45 12.77 469.22</u></div>
<div><u>Trenton 2.85 14.38 528.19 2.30 12.62 463.71</u></div>
<div><u>Winchester 3.14 14.67 538.85 2.63 12.95 475.83</u></div>
<div><u>North Gower 2.90 14.43 530.03 2.50 12.82 471.05</u></div>
<div><u>Vankleek Hil2.87 14.40 528.93 2.54 12.86 472.52</u></div>
<div><u>Huron FOB 3.01 3.28 3.10 3.05 14.54 534.07 N/A</u></div>
<div><u>Kent FOB 3.10 14.63 537.38 2.45 12.77 469.22</u></div>
<div><u>Lambton FOB 3.10 14.63 537.38 2.50 12.82 471.05</u></div>
<div><u>Mdsx FOB 3.18 3.24 3.24 3.24 14.71 540.32 2.52 12.84 471.79</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Windsor 3.18 14.71 540.32 2.65 12.97 476.57</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton 3.55 15.08 553.91 2.85 13.17 483.91</u></div>
<div><u>Prescott 3.14 14.67 538.85 2.80 13.12 482.08</u></div>
<div><u>Port Colborn3.52 15.05 552.81 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.07 11.46 421.07 -0.46 9.86 362.42</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.307 up 0.0065</u></div>
<div><u>Chicago wheat closed moderately lower.</u></div>
<div><u>DEC20 HI 6.13 1/2 JUL21 HI 6.17 1/4</u></div>
<div><u> LOW 5.95 1/2 LOW 6.01 1/2</u></div>
<div><u> CLOSE 5.98 Down 10 1/2 CLOSE 6.04 3/4 Down 9</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly to moderately lower.</u></div>
<div><u>DEC20 HI 5.65 3/4 SEP21 HI 5.98</u></div>
<div><u> LOW 5.54 1/4 LOW 5.91</u></div>
<div><u> CLOSE 5.55 Down 6 1/2 CLOSE 5.93 Down 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 1.38 1.57 1.38 1.25</u></div>
<div><u>CAD $/bu 7.36 7.55 7.36 6.80</u></div>
<div><u>CAD $/tonne 270.38 277.58 270.38 249.73</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 1.20 1.27 1.14 N/A 1.41 1.41 1.15 N/A</u></div>
<div><u>Hensall 1.30 N/A 1.10 N/A 1.35 N/A 1.10 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 1.30 1.30 1.10 1.35 1.30 1.30 1.10 1.25</u></div>
<div><u>Essex N/A N/A 1.15 N/A N/A N/A 1.10 N/A</u></div>
<div><u>Norwich 1.30 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 1.15 N/A</u></div>
<div><u>Kent Bridge 1.30 N/A 1.10 N/A 1.35 N/A 1.10 N/A</u></div>
<div><u>Chatham N/A N/A 1.15 N/A N/A N/A 1.10 N/A</u></div>
<div><u>Brigden N/A N/A 1.15 N/A N/A N/A 1.15 N/A</u></div>
<div><u>Palmerston N/A 1.24 1.04 1.38 N/A 1.42 1.09 1.23</u></div>
<div><u>Varna 1.30 1.30 1.10 N/A 1.30 1.30 1.10 N/A</u></div>
<div><u>Mitchell 1.30 1.35 1.10 N/A 1.35 1.40 1.10 N/A</u></div>
<div><u>Thornton N/A N/A N/A 1.44 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 1.25 1.15 0.85 N/A 1.48 1.18 0.80</u></div>
<div><u>W O Feed 1.68</u></div>
<div><u><br>
</u></div>
<div><u>TERMINAL</u></div>
<div><u>Port Colbor N/A N/A 1.60 N/A N/A N/A 1.58 N/A</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Toledo FM N/A N/A 1.84 N/A N/A N/A 1.97 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 5.78US 7.55CA 6.00US 7.82CA</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 1.40 1.02</u></div>
<div><u>CAD $/bu 7.61 7.75 7.45 6.95</u></div>
<div><u>CAD $/tonne 279.80 284.59 273.56 255.47</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 636.82</u></div>
<div><u>DDG's FOB Srn & Aylm 300.00</u></div>
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<u><br>
</u></div>
---</div>
<div style="font-family: "Courier New", monospace; font-size: 10pt; color: rgb(0, 0, 0);">
Ontario Grain Market Commentary for November 11, 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);">
<div><br>
</div>
<div>Wednesday, November 11, 2020</div>
<div>COMMODITY PERIOD PRICE WEEKLY MOVEMENT</div>
<div>Corn CBOT Dec 4.17 ¨ù ¡è 12 Cents</div>
<div>Soybeans CBOT Jan 11.52 ¨ö ¡è 76 ¨ù Cents</div>
<div>Wheat CBOT Dec 5.98 ¡é 8 Cents</div>
<div>Wheat Minn. Dec 5.55 ¡é 2 Cents</div>
<div>Wheat Kansas Dec 5.54 ¨ù ¡é 5 ¨ö Cents</div>
<div>Oats CBOT Dec 3.03 ¨ú ¡è 7 Cents</div>
<div></div>
<div>Canadian $ Sept 0.7653 ¡è 36 Points</div>
<div><br>
</div>
<div><br>
</div>
<div>CORN: </div>
<div>According to the November WASDE report, the USDA reduced U.S. corn yields from 178.4 to 175.8 bushels per acre. Production was then estimated at 215 million bushels less than the September estimates. Exports were increased by 325 million bushels. Carryout
was projected at 1.7 billion bushels, down 465 million bushels from the previous month and below trade estimates. This would be the smallest carryout in over 5 years.</div>
<div>The Ukraine is expected to harvest between 26 and 33 million tonnes of corn this year. These figures are down from last year¡¯s 36 million tonnes. Drought through the summer months reduced the harvested area and the corn yield significantly.</div>
<div><br>
</div>
<div>SOYBEANS: </div>
<div>The USDA reduced the soybean yield estimate to 50.7 bushels per acre. This lowered production by 98 million bushels. With little change in the demand of U.S. soybeans, carryout was reduced by 100 million bushels to 190 million.</div>
<div>Brazil has recently reported that it is importing soybeans from the U.S, in order to meet domestic crushing needs. Brazil has a very tight domestic supply as it has been aggressively selling beans to the export markets. Of the soybeans sold to China between
April and September of this year, 86% originated from Brazil.</div>
<div><br>
</div>
<div>WHEAT:</div>
<div>The USDA report for U.S. wheat remained virtually unchanged from one month prior. There was a 5 million bushel increase in domestic food use and a 6 million bushel cut to the carryout bringing it to a level of 877 million bushels.</div>
<div>Saudi Arabia has purchased 860,000 tonnes of wheat for shipment between February and March of 2021. This wheat would help meet local demand and to maintain strategic stocks. According to Saudi sources, the average price was $277.53 per tonne for wheat
with a protein of 12.5%.</div>
<div>2020 crop year prices for November 11, 2020, at the market close, are as follows:</div>
<div><br>
</div>
<div>SWW at $270.31/mt ($7.36/bu), HRW at $277.51/mt ($7.55/bu) + protein, </div>
<div>HRS at $ 249.67/mt ($6.79/bu) + protein, and SRW at $270.31/mt ($7.36/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>
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<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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