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<u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Thu, January 14</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 1.2633 down 0.0053</u></div>
<div><u>Chicago corn closed moderately higher to higher.</u></div>
<div><u><br>
</u></div>
<div><u> MAR21 HI 5.36 1/2 DEC21 HI 4.58 3/4</u></div>
<div><u> LOW 5.19 LOW 4.45 1/4</u></div>
<div><u> CLOSE5.34 1/4 Up 9 3/4 CLOSE 4.57 3/4 Up 4 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+MAY21+MAY21</u></div>
<div><u>CK Low 1.40 6.74 265.44 0.95 5.53 217.61</u></div>
<div><u>CK High 1.45 6.79 267.41 0.95 5.53 217.61</u></div>
<div><u>CK Avg 1.41 0.00 6.75 265.77 0.95 -0.20 5.53 217.61</u></div>
<div><u>Essex Cty 1.45 6.79 267.41 0.95 5.53 217.61</u></div>
<div><u>Mdsx Low 1.40 6.74 265.44 0.95 5.53 217.61</u></div>
<div><u>Mdsx High 1.40 6.74 265.44 0.95 5.53 217.61</u></div>
<div><u>Mdsx Avg 1.40 -0.01 6.74 265.44 0.95 -0.20 5.53 217.61</u></div>
<div><u>Hensall 1.42 6.76 266.10 0.97 5.54 218.26</u></div>
<div><u>Bruce 1.40 6.74 265.44 0.95 5.53 217.61</u></div>
<div><u>Putnam 1.40 6.74 265.44 0.95 5.53 217.61</u></div>
<div><u>Burford 1.45 6.79 267.41 0.95 5.53 217.61</u></div>
<div><u>Port Perry 1.45 6.79 267.41 1.00 5.58 219.58</u></div>
<div><u>Norfolk 1.45 6.79 267.41 0.95 5.53 217.61</u></div>
<div><u>Palmerston 1.35 6.69 263.47 0.95 5.53 217.61</u></div>
<div><u>Varna 1.40 6.74 265.44 0.95 5.53 217.61</u></div>
<div><u>Trenton 1.40 6.74 265.44 1.00 5.58 219.58</u></div>
<div><u>Winchester 1.45 6.79 267.41 1.25 5.83 229.42</u></div>
<div><u>North Gower 1.49 6.83 268.98 1.26 5.84 229.81</u></div>
<div><u>Vankleek Hil 1.68 7.02 276.46 1.10 5.68 223.51</u></div>
<div><u>Huron FOB 1.52 1.55 1.58 1.61 6.86 270.16 0.96 5.54 218.00</u></div>
<div><u>Kent FOB 1.68 7.02 276.46 1.05 5.63 221.54</u></div>
<div><u>Lamb FOB N/A 1.10 5.68 223.51</u></div>
<div><u>Mdsx FOB N/A N/A N/A N/A 1.00 5.58 219.58</u></div>
<div><u>FOB SW Que 1.82 7.16 281.98N/A</u></div>
<div><u>Track 1.89 7.23 284.73N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A N/A N/A 1.11 5.69 223.91</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A N/A 1.43 6.01 236.50</u></div>
<div><u>Aylmer-Eth N/A N/A N/A N/A 1.20 5.78 227.45</u></div>
<div><u>Sarn-Eth N/A N/A N/A N/A N/A</u></div>
<div><u>London-Ing N/A N/A N/A N/A 1.25 5.83 229.42</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 5.93 233.36</u></div>
<div><u>W O Feed 2.02 7.36 289.85</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 2.04 7.38 290.64</u></div>
<div><u>Toledo El. -0.06 5.28 207.84 -0.25 4.32 170.26</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Pt. Colb 1.80 7.14 281.19 1.20 5.78 227.45</u></div>
<div><u>Prescott N/A 1.50 6.08 239.26</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>HI SD CRN 1.45 6.79 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 1.2633 down 0.0053</u></div>
<div><u>Chicago soybeans closed moderately higher to higher.</u></div>
<div><u><br>
</u></div>
<div><u> MAR21 HI 14.35 3/4 NOV21 HI 11.99</u></div>
<div><u> LOW 14.03 LOW 11.72 1/2</u></div>
<div><u> CLOSE14.30 1/2 Up 24 1/4 CLOSE 11.96 1/2 Up 20 1/2</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 +MAR21+MAR21+MAY21</u></div>
<div><u>CK Low 3.33 17.64 647.98 2.67 14.64 537.74</u></div>
<div><u>CK High 3.35 17.66 648.71 2.70 14.67 538.85</u></div>
<div><u>CK Average 3.35 -0.33 17.65 648.59 2.70 -0.36 14.66 538.66</u></div>
<div><u>Essex Cty 3.35 17.66 648.71 2.65 14.62 537.01</u></div>
<div><u>Mdsx Low 3.31 17.62 647.24 2.65 14.62 537.01</u></div>
<div><u>Mdsx High 3.35 17.66 648.71 2.70 14.67 538.85</u></div>
<div><u>Mdsx Average3.33 -0.35 17.64 647.98 2.68 -0.38 14.64 537.93</u></div>
<div><u>Hensall 3.35 17.66 648.71 2.70 14.67 538.85</u></div>
<div><u>Bruce 3.40 17.71 650.55 2.70 14.67 538.85</u></div>
<div><u>Putnam 3.35 17.66 648.71 2.70 14.67 538.85</u></div>
<div><u>Burford 3.38 17.69 649.81 2.72 14.69 539.58</u></div>
<div><u>Port Perry 3.30 17.61 646.87 2.64 14.61 536.64</u></div>
<div><u>Norfolk 3.35 17.66 648.71 2.70 14.67 538.85</u></div>
<div><u>Palmerston 3.27 17.58 645.77 2.58 14.55 534.44</u></div>
<div><u>Varna 3.35 17.66 648.71 2.70 14.67 538.85</u></div>
<div><u>Trenton 3.35 17.66 648.71 2.70 14.67 538.85</u></div>
<div><u>Winchester 3.41 17.72 650.91 2.62 14.59 535.91</u></div>
<div><u>North Gower 3.22 17.53 643.93 2.70 14.67 538.85</u></div>
<div><u>Vankleek Hil3.48 17.79 653.49 2.80 14.77 542.52</u></div>
<div><u>Huron FOB 3.53 3.59 3.59 3.65 17.84 655.32 2.78 14.75 541.79</u></div>
<div><u>Kent FOB 3.35 17.66 648.71 2.70 14.67 538.85</u></div>
<div><u>Lambton FOB 3.60 17.91 657.90 2.75 14.72 540.68</u></div>
<div><u>Mdsx FOB 3.45 3.51 3.58 N/A 17.76 652.38 2.80 14.77 542.52</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Windsor 3.71 18.02 661.94 2.90 14.87 546.20</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton 3.80 18.11 665.24 3.15 15.12 555.38</u></div>
<div><u>Prescott N/A 3.11 15.08 553.91</u></div>
<div><u>Port Colborn3.86 18.17 667.45 3.19 15.16 556.85</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.13 14.18 520.98 -0.44 11.52 423.39</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2633 down 0.0053</u></div>
<div><u>Chicago wheat closed slightly to moderately higher.</u></div>
<div><u>MAR21 HI 6.73 1/4 JUL21 HI 6.57 1/2</u></div>
<div><u> LOW 6.53 LOW 6.43</u></div>
<div><u> CLOSE 6.70 Up 9 1/2 CLOSE 6.55 Up 7 1/2</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed higher.</u></div>
<div><u>MAR21 HI 6.43 1/2 SEP21 HI 6.57 3/4</u></div>
<div><u> LOW 6.24 LOW 6.39</u></div>
<div><u> CLOSE 6.40 1/2 Up 11 3/4 CLOSE 6.55 Up 12 3/4</u></div>
<div><u><br>
</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 1.30 N/A N/A N/A 1.05 N/A</u></div>
<div><u>London 1.37 1.31 1.31 N/A 1.28 1.28 1.09 N/A</u></div>
<div><u>Hensall 1.35 N/A 1.30 N/A 1.35 N/A 1.05 N/A</u></div>
<div><u>Trenton N/A N/A N/A N/A N/A N/A 1.10 N/A</u></div>
<div><u>Bruce 1.30 1.40 1.30 1.40 1.25 1.30 1.10 1.30</u></div>
<div><u>Essex N/A N/A 1.35 N/A N/A N/A 1.05 N/A</u></div>
<div><u>Norwich 1.35 N/A 1.30 N/A 1.35 N/A 1.05 N/A</u></div>
<div><u>Port Hope N/A N/A N/A N/A N/A N/A 1.10 N/A</u></div>
<div><u>Kent Bridge 1.35 N/A 1.30 N/A 1.35 N/A 1.05 N/A</u></div>
<div><u>Chatham N/A N/A 1.35 N/A N/A N/A 1.05 N/A</u></div>
<div><u>Brigden N/A N/A 1.35 N/A N/A N/A 1.05 N/A</u></div>
<div><u>Palmerston N/A 1.20 1.20 N/A N/A 1.28 1.09 N/A</u></div>
<div><u>Varna 1.35 1.40 1.35 N/A 1.25 1.25 1.05 N/A</u></div>
<div><u>Mitchell 1.35 1.45 1.30 N/A 1.35 1.30 1.05 N/A</u></div>
<div><u>Thornton N/A N/A N/A 1.24 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 1.10 1.10 0.65 N/A 1.21 1.21 0.75</u></div>
<div><u>W O Feed 2.02</u></div>
<div><u><br>
</u></div>
<div><u>TERMINAL</u></div>
<div><u>Port Colbor N/A N/A 1.76 N/A N/A N/A 1.48 N/A</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Toledo FM N/A N/A 1.89 N/A N/A N/A 1.85 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 6.70US 8.46CA 6.50US 8.21CA</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 672.31</u></div>
<div><u>DDG's FOB Srn & Aylm 330.00</u></div>
<u><br>
<br>
</u></div>
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<span style="font-size:10.0pt;font-family:"Courier New"">Blair Andrews<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>
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