<html>
<head>
<meta http-equiv="Content-Type" content="text/html; charset=ks_c_5601-1987">
<style type="text/css" style="display:none;"> P {margin-top:0;margin-bottom:0;} </style>
</head>
<body dir="ltr">
<div style="font-family: "Courier New", monospace; font-size: 10pt; color: rgb(0, 0, 0);">
<u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, December 16</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 1.2749 up 0.0017</u></div>
<div><u>Chicago corn closed slightly higher.</u></div>
<div><u><br>
</u></div>
<div><u> MAR21 HI 4.29 1/4 DEC21 HI 4.14</u></div>
<div><u> LOW 4.23 3/4 LOW 4.11 1/4</u></div>
<div><u> CLOSE4.27 1/4 Up 2 1/2 CLOSE 4.13 1/2 Up 1 1/4</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 +MAR21+MAR21+MAY21</u></div>
<div><u>CK Low 1.25 5.52 217.41 0.90 5.04 198.22</u></div>
<div><u>CK High 1.30 5.57 219.38 0.95 5.09 200.19</u></div>
<div><u>CK Avg 1.28 0.08 5.55 218.40 0.91 -0.18 5.04 198.55</u></div>
<div><u>Essex Cty 1.30 5.57 219.38 0.90 5.04 198.22</u></div>
<div><u>Mdsx Low 1.25 5.52 217.41 0.90 5.04 198.22</u></div>
<div><u>Mdsx High 1.25 5.52 217.41 0.90 5.04 198.22</u></div>
<div><u>Mdsx Avg 1.25 0.06 5.52 217.41 0.90 -0.18 5.04 198.22</u></div>
<div><u>Hensall 1.27 5.54 218.07 0.92 5.05 198.88</u></div>
<div><u>Bruce 1.25 5.52 217.41 0.85 4.99 196.25</u></div>
<div><u>Putnam 1.25 5.52 217.41 0.90 5.04 198.22</u></div>
<div><u>Burford 1.30 5.57 219.38 0.90 5.04 198.22</u></div>
<div><u>Port Perry 1.35 5.62 221.35 0.95 5.09 200.19</u></div>
<div><u>Norfolk 1.30 5.57 219.38 0.90 5.04 198.22</u></div>
<div><u>Palmerston 1.29 5.56 218.99 0.91 5.05 198.61</u></div>
<div><u>Varna 1.25 5.52 217.41 0.90 5.04 198.22</u></div>
<div><u>Trenton 1.40 5.67 223.32 0.95 5.09 200.19</u></div>
<div><u>Winchester 1.55 5.82 229.22 1.25 5.39 212.00</u></div>
<div><u>North Gower 1.42 5.69 224.10 1.25 5.39 212.00</u></div>
<div><u>Vankleek Hil 1.38 5.65 222.53 1.03 5.17 203.34</u></div>
<div><u>Huron FOB 1.50 1.50 1.52 1.56 5.77 227.25N/A</u></div>
<div><u>Kent FOB 1.50 5.77 227.25 0.95 5.09 200.19</u></div>
<div><u>Lamb FOB 1.50 5.77 227.25 0.95 5.09 200.19</u></div>
<div><u>Mdsx FOB 1.50 1.55N/A N/A 5.77 227.25 0.95 5.09 200.19</u></div>
<div><u>FOB SW Que 2.09 6.36 250.48N/A</u></div>
<div><u>Track 1.85 6.12 241.03N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A 1.67 1.73 1.74 1.13 5.27 207.27</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A 1.80 1.32 5.46 214.75</u></div>
<div><u>Aylmer-Eth 1.75 1.75 1.78 1.80 6.02 237.10 1.15 5.29 208.06</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 1.25 5.39 212.00</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 1.35 5.49 215.93</u></div>
<div><u>W O Feed 1.86 6.13 241.50</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.82 6.09 239.85</u></div>
<div><u>Toledo El. 0.00 4.27 168.20 -0.25 3.88 152.75</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Pt. Colb 1.80 6.07 239.06 1.00 5.14 202.16</u></div>
<div><u>Prescott N/A 1.37 5.51 216.72</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>HI SD CRN 1.30 5.57 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 1.2749 up 0.0017</u></div>
<div><u>Chicago soybeans closed slightly lower.</u></div>
<div><u><br>
</u></div>
<div><u> JAN21 HI 11.95 NOV21 HI 10.70 3/4</u></div>
<div><u> LOW 11.81 3/4 LOW 10.61</u></div>
<div><u> CLOSE11.83 3/4 Down 1/2 CLOSE 10.62 3/4 Down 2 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+MAR21+MAR21</u></div>
<div><u>CK Low 2.90 14.74 541.51 2.30 12.93 475.00</u></div>
<div><u>CK High 2.95 14.79 543.35 2.35 12.98 476.84</u></div>
<div><u>CK Average 2.94 -0.25 14.77 542.80 2.34 -0.46 12.96 476.29</u></div>
<div><u>Essex Cty 2.95 14.79 543.35 2.35 12.98 476.84</u></div>
<div><u>Mdsx Low 2.92 14.76 542.25 2.32 12.95 475.74</u></div>
<div><u>Mdsx High 2.95 14.79 543.35 2.35 12.98 476.84</u></div>
<div><u>Mdsx Average2.94 -0.25 14.77 542.80 2.34 -0.46 12.96 476.29</u></div>
<div><u>Hensall 2.88 14.72 540.90 2.32 12.94 475.62</u></div>
<div><u>Bruce 2.85 14.69 539.67 2.30 12.93 475.00</u></div>
<div><u>Putnam 2.95 14.79 543.35 2.35 12.98 476.84</u></div>
<div><u>Burford 2.99 14.83 544.82 2.39 13.02 478.31</u></div>
<div><u>Port Perry 2.91 14.75 541.88 2.31 12.94 475.37</u></div>
<div><u>Norfolk 2.95 14.79 543.35 2.35 12.98 476.84</u></div>
<div><u>Palmerston 2.95 14.79 543.35 2.31 12.94 475.37</u></div>
<div><u>Varna 2.85 14.69 539.67 2.30 12.93 475.00</u></div>
<div><u>Trenton 2.90 14.74 541.51 2.30 12.93 475.00</u></div>
<div><u>Winchester 2.90 14.74 541.51 2.48 13.11 481.62</u></div>
<div><u>North Gower 2.75 14.59 536.00 2.46 13.09 480.88</u></div>
<div><u>Vankleek Hil2.87 14.71 540.41 2.50 13.13 482.35</u></div>
<div><u>Huron FOB 3.08 3.14 3.22 3.22 14.92 548.12 N/A</u></div>
<div><u>Kent FOB 3.05 14.89 547.02 2.35 12.98 476.84</u></div>
<div><u>Lambton FOB 3.00 14.84 545.18 2.40 13.03 478.68</u></div>
<div><u>Mdsx FOB N/A 3.11 3.11 N/A 2.45 13.08 480.52</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Windsor N/A 2.61 13.24 486.39</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton 3.50 15.34 563.56 2.80 13.43 493.38</u></div>
<div><u>Prescott 3.14 14.98 550.33 2.80 13.43 493.38</u></div>
<div><u>Port Colborn3.33 15.17 557.31 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 0.00 11.84 434.95 -0.45 10.18 374.10</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2749 up 0.0017</u></div>
<div><u>Chicago wheat closed slightly lower.</u></div>
<div><u>MAR21 HI 6.07 3/4 JUL21 HI 6.02 3/4</u></div>
<div><u> LOW 5.89 3/4 LOW 5.88 1/4</u></div>
<div><u> CLOSE 5.98 1/2 Down 1 1/4 CLOSE 5.95 Down 1 1/2</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly lower.</u></div>
<div><u>MAR21 HI 5.63 1/4 SEP21 HI 5.86 3/4</u></div>
<div><u> LOW 5.54 1/4 LOW 5.79 1/2</u></div>
<div><u> CLOSE 5.58 3/4 Down 3/4 CLOSE 5.83 1/4 Down 3/4</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 1.20 N/A N/A N/A 0.95 N/A</u></div>
<div><u>London 1.13 1.07 1.07 N/A 1.18 1.18 0.99 N/A</u></div>
<div><u>Hensall 1.25 N/A 1.20 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 1.05 N/A</u></div>
<div><u>Bruce 1.25 1.30 1.20 1.35 1.20 1.20 1.00 1.25</u></div>
<div><u>Essex N/A N/A 1.20 N/A N/A N/A 1.00 N/A</u></div>
<div><u>Norwich 1.25 N/A 1.20 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 1.20 N/A 1.25 N/A 0.95 N/A</u></div>
<div><u>Chatham N/A N/A 1.20 N/A N/A N/A 1.00 N/A</u></div>
<div><u>Brigden N/A N/A 1.20 N/A N/A N/A 1.00 N/A</u></div>
<div><u>Palmerston N/A 1.09 1.09 1.43 N/A 1.23 1.04 1.23</u></div>
<div><u>Varna 1.20 1.30 1.20 N/A 1.15 1.15 0.95 N/A</u></div>
<div><u>Mitchell 1.25 1.35 1.20 N/A 1.25 1.20 0.95 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 1.05 1.04 0.61 N/A 1.17 1.07 0.73</u></div>
<div><u>W O Feed 1.81</u></div>
<div><u><br>
</u></div>
<div><u>TERMINAL</u></div>
<div><u>Port Colbor N/A N/A 1.59 N/A N/A N/A 1.38 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 1.76 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 5.99US 7.63CA 5.90US 7.52CA</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 594.71</u></div>
<div><u>DDG's FOB Srn & Aylm 310.00 - 315.00</u></div>
<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);">
Ontario Grain Market Commentary for December 16, 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);">
<u><br>
</u></div>
<div style="font-family: "Courier New", monospace; font-size: 10pt; color: rgb(0, 0, 0);">
<div style=""><br>
</div>
<div style="">Wednesday, December 16, 2020</div>
<div style="">COMMODITY PERIOD PRICE WEEKLY MOVEMENT</div>
<div style="">Corn CBOT Mar 4.27 ¨ù ¡è 3 ¨ö Cents</div>
<div style="">Soybeans CBOT Jan 11.83 ¨ù ¡è 25 ¨ù Cents</div>
<div style="">Wheat CBOT Mar 5.98 ¨ö ¡è 15 ¨ù Cent</div>
<div style="">Wheat Minn. Mar 5.58 ¨ú ¡è 3 Cents</div>
<div style="">Wheat Kansas Mar 5.51 ¡è 10 ¨ö Cents</div>
<div style="">Oats CBOT Mar 3.36 ¡è 8 ¨ù Cents</div>
<div style=""></div>
<div style="">Canadian $ Mar 0.7837 ¡è 32 Points</div>
<div style=""><br>
</div>
<div style=""><br>
</div>
<div style="">CORN: </div>
<div style="">Brazilian corn production is estimated to be 102.5 million tonnes this year. The full season corn crop is expected to be 24.1 million tonnes, down 2.4 million from November estimates, while the Safrinha corn crop estimate remains unchanged at
76.7 million tonnes.</div>
<div style="">The Ukraine has harvested 35.9 million tonnes of corn this year, up 100,000 tonnes from the previous year. In all, the Ukraine harvested 65.4 million tonnes of grains. Domestic demand is but a small fraction of this volume which allows the Ukraine
to be a major exporter of grains in the region.</div>
<div style=""><br>
</div>
<div style="">SOYBEANS: </div>
<div style="">Brazil has planted 95 million acres of soybeans this year compared to 91 million acres during the previous year. Early dryness which slowed planting and continued adverse weather conditions have led to reductions in production estimates. It is
expected that production will decline 0.5 million tonnes from previous estimates to 134.4 million tonnes. Although production estimates have been lowered, they are still above production levels of last year.</div>
<div style="">The late planting will also mean a later harvest. This could mean that importers such as China will continue to rely on U.S. sourced soybeans well into the period where they normally switch over to buying South American beans.</div>
<div style=""><br>
</div>
<div style=""><br>
</div>
<div style="">WHEAT:</div>
<div style="">Australia's experts estimate that their wheat production will total 31.17 million tonnes, up nearly 8% from September figures. This would be the second largest wheat crop for Australia. Favourable rainfalls in September and October have benefited
production this year. To date, the largest wheat crop was in the 2016/2017 crop year with the production of 31.8 million tonnes.</div>
<div style="">Wheat futures had a one-day rally on talk that Russia would impose a wheat-export tax in an effort to stabilize domestic prices. The export tax would be set at 25 euros a tonne between Feb 15 and June 30. This tax would be on top of the already
established grain export quota of 1.75 million tonnes.</div>
<div style=""><br>
</div>
<div style="">---</div>
<div style="text-decoration-line: underline;"><br>
</div>
<div style="">
<p class="MsoNoSpacing" style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;">
<span style="font-size: 10pt; font-family: "Courier New";">Blair Andrews<o:p style=""> </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>
<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"">Fax. 519-674-1530<br>
<br>
<span style="background:#FDFDFD">Click on this link:<span class="apple-converted-space"><span style="color:#333333"> </span></span></span><span class="object"><span style="color:#336699">farmmarketnews-unsubscribe@list.gfo.ca</span></span><span class="apple-converted-space"><span style="color:#333333;background:#FDFDFD"> </span></span><span style="background:#FDFDFD"> to
unsubscribe from this report.</span><br>
<span style="background:#FDFDFD">This Farm Market News product is sponsored by:</span><br>
<span style="background:#FDFDFD">Grain Farmers of Ontario<o:p> </o:p></span></span></p>
<p class="MsoNormal" style="margin: 0in 0in 10pt; line-height: 115%; font-size: 11pt; font-family: Calibri, sans-serif;">
<span style="font-size: 10pt; font-family: "Courier New"; color: rgb(51, 51, 51); background: rgb(253, 253, 253);"><o:p style=""> </o:p></span></p>
<br>
</div>
<div style="text-decoration-line: underline;"><br>
</div>
<br>
<br>
</div>
<div>
<div id="Signature">
<div>
<div id="divtagdefaultwrapper" style="font-size:12pt; color:#000000; background-color:#FFFFFF; font-family:Calibri,Arial,Helvetica,sans-serif">
<p style="margin-top: 0px; margin-bottom: 0px;"></p>
<p style="margin-top: 0px; margin-bottom: 0px;"><br>
</p>
</div>
</div>
</div>
</div>
</body>
</html>