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<u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, December 9</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 1.2822 up 0.0004</u></div>
<div><u>Chicago corn closed slightly higher.</u></div>
<div><u><br>
</u></div>
<div><u> MAR21 HI 4.24 1/2 DEC21 HI 4.10 3/4</u></div>
<div><u> LOW 4.19 3/4 LOW 4.07 3/4</u></div>
<div><u> CLOSE4.23 3/4 Up 4 CLOSE 4.10 1/2 Up 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+MAY21</u></div>
<div><u>CK Low 1.30 5.54 218.00 0.90 5.01 197.04</u></div>
<div><u>CK High 1.30 5.54 218.00 0.95 5.06 199.01</u></div>
<div><u>CK Avg 1.30 0.08 5.54 218.00 0.91 -0.19 5.01 197.37</u></div>
<div><u>Essex Cty 1.30 5.54 218.00 0.90 5.01 197.04</u></div>
<div><u>Mdsx Low 1.30 5.54 218.00 0.90 5.01 197.04</u></div>
<div><u>Mdsx High 1.30 5.54 218.00 0.90 5.01 197.04</u></div>
<div><u>Mdsx Avg 1.30 0.08 5.54 218.00 0.90 -0.20 5.01 197.04</u></div>
<div><u>Hensall 1.32 5.55 218.66 0.92 5.02 197.69</u></div>
<div><u>Bruce 1.30 5.54 218.00 0.90 5.01 197.04</u></div>
<div><u>Putnam 1.30 5.54 218.00 0.90 5.01 197.04</u></div>
<div><u>Burford 1.35 5.59 219.97 0.90 5.01 197.04</u></div>
<div><u>Port Perry 1.35 5.59 219.97 0.95 5.06 199.01</u></div>
<div><u>Norfolk 1.30 5.54 218.00 0.90 5.01 197.04</u></div>
<div><u>Palmerston 1.30 5.54 218.00 0.92 5.03 197.83</u></div>
<div><u>Varna 1.30 5.54 218.00 0.90 5.01 197.04</u></div>
<div><u>Trenton 1.40 5.64 221.94 1.00 5.11 200.97</u></div>
<div><u>Winchester 1.55 5.79 227.84 1.25 5.36 210.82</u></div>
<div><u>North Gower 1.45 5.69 223.91 1.25 5.36 210.82</u></div>
<div><u>Vankleek Hil 1.36 5.60 220.36 1.03 5.14 202.16</u></div>
<div><u>Huron FOB 1.50 1.50 1.51 1.56 5.74 225.88N/A</u></div>
<div><u>Kent FOB 1.50 5.74 225.88 0.95 5.06 199.01</u></div>
<div><u>Lamb FOB 1.50 5.74 225.88 0.95 5.06 199.01</u></div>
<div><u>Mdsx FOB 1.50 1.50N/A N/A 5.74 225.88 1.00 5.11 200.97</u></div>
<div><u>FOB SW Que 2.02 6.26 246.35N/A</u></div>
<div><u>Track 1.84 6.07 239.06N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A 1.68 1.75 1.76 1.14 5.25 206.49</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A 1.94 1.39 5.50 216.33</u></div>
<div><u>Aylmer-Eth N/A 1.70 1.73 1.78 1.15 5.26 206.88</u></div>
<div><u>Sarn-Eth N/A 1.70 1.75N/A N/A</u></div>
<div><u>London-Ing N/A N/A N/A N/A 1.20 5.31 208.85</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 2.00 1.35 5.46 214.75</u></div>
<div><u>W O Feed 1.86 6.10 240.13</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.84 6.08 239.26</u></div>
<div><u>Toledo El. 0.00 4.24 166.82 -0.26 3.85 151.51</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Pt. Colb 1.80 6.04 237.69 1.00 5.11 200.97</u></div>
<div><u>Prescott N/A 1.37 5.48 215.54</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>HI SD CRN 1.30 5.53 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 1.2822 up 0.0004</u></div>
<div><u>Chicago soybeans closed slightly to moderately higher.</u></div>
<div><u><br>
</u></div>
<div><u> JAN21 HI 11.60 3/4 NOV21 HI 10.48 1/2</u></div>
<div><u> LOW 11.45 1/2 LOW 10.39 1/4</u></div>
<div><u> CLOSE11.58 1/2 Up 12 3/4 CLOSE 10.48 Up 6 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+MAR21+MAR21</u></div>
<div><u>CK Low 2.85 14.44 530.40 2.30 12.78 469.58</u></div>
<div><u>CK High 2.93 14.52 533.33 2.30 12.78 469.58</u></div>
<div><u>CK Average 2.87 -0.31 14.46 531.19 2.30 -0.51 12.78 469.58</u></div>
<div><u>Essex Cty 2.85 14.44 530.40 2.25 12.73 467.75</u></div>
<div><u>Mdsx Low 2.85 14.44 530.40 2.30 12.78 469.58</u></div>
<div><u>Mdsx High 2.94 14.53 533.70 2.31 12.79 469.95</u></div>
<div><u>Mdsx Average2.90 -0.29 14.48 532.05 2.31 -0.51 12.79 469.77</u></div>
<div><u>Hensall 2.87 14.45 531.01 2.32 12.80 470.20</u></div>
<div><u>Bruce 2.90 14.49 532.23 2.35 12.83 471.42</u></div>
<div><u>Putnam 2.85 14.44 530.40 2.30 12.78 469.58</u></div>
<div><u>Burford 3.01 14.60 536.27 2.38 12.86 472.52</u></div>
<div><u>Port Perry 2.93 14.52 533.33 2.30 12.78 469.58</u></div>
<div><u>Norfolk 2.85 14.44 530.40 2.30 12.78 469.58</u></div>
<div><u>Palmerston 2.93 14.52 533.33 2.44 12.92 474.73</u></div>
<div><u>Varna 2.85 14.44 530.40 2.30 12.78 469.58</u></div>
<div><u>Trenton 2.90 14.49 532.23 2.35 12.83 471.42</u></div>
<div><u>Winchester 2.87 14.46 531.13 2.40 12.88 473.26</u></div>
<div><u>North Gower 2.85 14.44 530.40 2.50 12.98 476.93</u></div>
<div><u>Vankleek Hil2.87 14.46 531.13 2.50 12.98 476.93</u></div>
<div><u>Huron FOB 3.00 3.07 3.15 3.15 14.59 535.91 N/A</u></div>
<div><u>Kent FOB 2.95 14.54 534.07 2.30 12.78 469.58</u></div>
<div><u>Lambton FOB 3.05 14.64 537.74 2.40 12.88 473.26</u></div>
<div><u>Mdsx FOB 3.00 3.00 3.00 N/A 14.59 535.91 2.45 12.93 475.10</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Windsor 3.32 14.91 547.66 2.62 13.10 481.34</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton 3.40 14.99 550.60 2.75 13.23 486.12</u></div>
<div><u>Prescott 3.14 14.73 541.05 2.80 13.28 487.96</u></div>
<div><u>Port Colborn3.22 14.81 543.99 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 0.00 11.59 425.68 -0.45 10.03 368.59</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2822 up 0.0004</u></div>
<div><u>Chicago wheat closed moderately higher to higher.</u></div>
<div><u>MAR21 HI 5.85 JUL21 HI 5.85</u></div>
<div><u> LOW 5.67 1/4 LOW 5.71 1/2</u></div>
<div><u> CLOSE 5.83 1/4 Up 13 1/4 CLOSE 5.83 3/4 Up 9 1/2</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed moderately higher to higher.</u></div>
<div><u>MAR21 HI 5.58 3/4 SEP21 HI 5.81</u></div>
<div><u> LOW 5.42 1/2 LOW 5.68</u></div>
<div><u> CLOSE 5.55 1/2 Up 12 1/4 CLOSE 5.79 1/2 Up 11 1/4</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 0.95 N/A</u></div>
<div><u>London 1.07 1.01 1.01 N/A 1.14 1.14 0.95 N/A</u></div>
<div><u>Hensall 1.25 N/A 1.10 N/A 1.25 N/A 0.95 N/A</u></div>
<div><u>Trenton N/A N/A N/A N/A N/A N/A 1.15 N/A</u></div>
<div><u>Bruce 1.30 1.30 1.10 1.35 1.25 1.25 1.05 1.25</u></div>
<div><u>Essex N/A N/A 1.10 N/A N/A N/A 0.95 N/A</u></div>
<div><u>Norwich 1.25 N/A 1.10 N/A 1.25 N/A 0.95 N/A</u></div>
<div><u>Port Hope N/A N/A 1.07 N/A N/A N/A 1.10 N/A</u></div>
<div><u>Kent Bridge 1.25 N/A 1.10 N/A 1.25 N/A 0.95 N/A</u></div>
<div><u>Chatham N/A N/A 1.10 N/A N/A N/A 0.95 N/A</u></div>
<div><u>Brigden N/A N/A 1.10 N/A N/A N/A 1.00 N/A</u></div>
<div><u>Palmerston N/A 1.07 0.88 1.12 N/A 1.25 0.92 1.06</u></div>
<div><u>Varna 1.20 1.30 1.10 N/A 1.15 1.15 0.95 N/A</u></div>
<div><u>Mitchell 1.25 1.35 1.10 N/A 1.25 1.30 0.95 N/A</u></div>
<div><u>Thornton N/A N/A N/A 1.03 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 1.16 1.08 0.65 N/A 1.45 1.16 0.77</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 1.53 N/A N/A N/A 1.34 N/A</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Toledo FM N/A N/A 1.77 N/A N/A N/A 1.77 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 5.83US 7.48CA 5.79US 7.42CA</u></div>
<div><u><br>
</u></div>
<div><u><br>
</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 594.27</u></div>
<div><u>DDG's FOB Srn & Aylm 310.00 - 315.00</u></div>
<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 December 9, 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, December 9, 2020<br>
</div>
<div>COMMODITY PERIOD PRICE WEEKLY MOVEMENT</div>
<div>Corn CBOT Mar 4.23 取 Unchanged </div>
<div>Soybeans CBOT Jan 11.58 卦 ∟ 3 取 Cents</div>
<div>Wheat CBOT Mar 5.83 卹 ⊿ 5 卹 Cent</div>
<div>Wheat Minn. Mar 5.55 取 ⊿ 5 卦 Cents</div>
<div>Wheat Kansas Mar 5.51 ⊿ 2 取 Cents</div>
<div>Oats CBOT Mar 3.27 取 ∟ 31 卹 Cents</div>
<div></div>
<div>Canadian $ Mar 0.7805 ∟ 67 Points</div>
<div><br>
</div>
<div><br>
</div>
<div>CORN: </div>
<div>Due to China＊s low domestic supplies of corn as well as high domestic prices, there is the expectation of continued imports of corn. Chinese officials have stated that the country has had a supply gap for the past several years and has been using reserve
stocks to meet continued demand.</div>
<div>The USDA is forecasting that imports of corn could reach 22 million tonnes for the 2020-2021 marketing year. As of the beginning of November, China has contracted over 10 million tonnes of corn with the U.S.</div>
<div><br>
</div>
<div>SOYBEANS: </div>
<div>Brazil has imported 748,000 tonnes of soybeans this year; 122,000 in the month of November alone. This represents a twenty times increase from the previous November. Expectations are that Brazil will import over a million tonnes of soybeans this year.</div>
<div>Strong domestic demand combined with record exports have left the domestic supply extremely tight. Most of the soybeans have been imported from Uruguay. In addition, a vessel load has been purchased from the U.S.</div>
<div><br>
</div>
<div>WHEAT:</div>
<div>While Egyptian strategic reserves are sufficient for approximately five months of consumption, the General authority for supply commodities (GASC) continues to bid for wheat through their tendering process. Russian continues to be the cheapest course for
wheat with 55,000 tonnes recently purchased at a price of $261.85 per tonne. </div>
<div>Egypt is aiming to produce over 10 million tonnes of wheat this year. They produced 9.5 million tonnes last year. This production is based on planting 3.63 million acres this year. Domestic harvest is expected to begin mid-April.</div>
<div><br>
</div>
<div>---</div>
<div><br>
</div>
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<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>
<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"">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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