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<u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Fri, January 15</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 1.2723 up 0.0090</u></div>
<div><u>Chicago corn closed mixed.</u></div>
<div><u><br>
</u></div>
<div><u> MAR21 HI 5.36 1/2 DEC21 HI 4.61 1/4</u></div>
<div><u> LOW 5.27 3/4 LOW 4.56</u></div>
<div><u> CLOSE5.31 1/2 Down 2 3/4 CLOSE 4.60 Up 2 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+MAY21+MAY21</u></div>
<div><u>CK Low 1.40 6.72 264.36 0.95 5.55 218.49</u></div>
<div><u>CK High 1.45 6.77 266.33 0.95 5.55 218.49</u></div>
<div><u>CK Avg 1.42 -0.02 6.73 265.01 0.95 -0.24 5.55 218.49</u></div>
<div><u>Essex Cty 1.45 6.77 266.33 0.95 5.55 218.49</u></div>
<div><u>Mdsx Low 1.40 6.72 264.36 0.95 5.55 218.49</u></div>
<div><u>Mdsx High 1.40 6.72 264.36 0.95 5.55 218.49</u></div>
<div><u>Mdsx Avg 1.40 -0.04 6.72 264.36 0.95 -0.24 5.55 218.49</u></div>
<div><u>Hensall 1.42 6.73 265.01 0.97 5.57 219.15</u></div>
<div><u>Bruce 1.40 6.72 264.36 0.95 5.55 218.49</u></div>
<div><u>Putnam 1.40 6.72 264.36 0.95 5.55 218.49</u></div>
<div><u>Burford 1.45 6.77 266.33 0.95 5.55 218.49</u></div>
<div><u>Port Perry 1.45 6.77 266.33 1.00 5.60 220.46</u></div>
<div><u>Norfolk 1.45 6.77 266.33 0.95 5.55 218.49</u></div>
<div><u>Palmerston 1.39 6.71 263.96 1.00 5.60 220.46</u></div>
<div><u>Varna 1.40 6.72 264.36 0.95 5.55 218.49</u></div>
<div><u>Trenton 1.40 6.72 264.36 1.00 5.60 220.46</u></div>
<div><u>Winchester 1.45 6.77 266.33 1.25 5.85 230.30</u></div>
<div><u>North Gower 1.49 6.81 267.90 1.26 5.86 230.70</u></div>
<div><u>Vankleek Hil 1.64 6.96 273.81 0.99 5.59 220.07</u></div>
<div><u>Huron FOB 1.55 1.58 1.61 1.64 6.87 270.26 0.99 5.59 220.07</u></div>
<div><u>Kent FOB 1.68 7.00 275.38 1.05 5.65 222.43</u></div>
<div><u>Lamb FOB N/A 1.10 5.70 224.40</u></div>
<div><u>Mdsx FOB N/A N/A N/A N/A 1.00 5.60 220.46</u></div>
<div><u>FOB SW Que 1.84 7.16 281.68N/A</u></div>
<div><u>Track 1.92 7.23 284.63N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A N/A N/A 1.11 5.71 224.79</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A N/A 1.43 6.03 237.39</u></div>
<div><u>Aylmer-Eth N/A N/A N/A N/A 1.20 5.80 228.34</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 5.85 230.30</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 5.95 234.24</u></div>
<div><u>W O Feed 2.07 7.39 290.73</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 2.09 7.41 291.52</u></div>
<div><u>Toledo El. -0.06 5.25 206.74 -0.25 4.35 171.07</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Pt. Colb 1.80 7.12 280.11 1.20 5.80 228.34</u></div>
<div><u>Prescott N/A 1.45 6.05 238.18</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>HI SD CRN 1.45 6.76 1/2</u></div>
<div><u>*Wet Bid</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2723 up 0.0090</u></div>
<div><u>Chicago soybeans closed mixed.</u></div>
<div><u><br>
</u></div>
<div><u> MAR21 HI 14.34 1/2 NOV21 HI 12.03</u></div>
<div><u> LOW 14.13 1/2 LOW 11.90 1/4</u></div>
<div><u> CLOSE14.16 3/4 Down 13 3/4 CLOSE 11.97 3/4 Up 1 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 +MAR21+MAR21+MAY21</u></div>
<div><u>CK Low 3.35 17.52 643.66 2.70 14.68 539.31</u></div>
<div><u>CK High 3.41 17.58 645.86 2.75 14.73 541.14</u></div>
<div><u>CK Average 3.39 -0.37 17.55 644.94 2.72 -0.43 14.70 540.10</u></div>
<div><u>Essex Cty 3.40 17.57 645.50 2.70 14.68 539.31</u></div>
<div><u>Mdsx Low 3.35 17.52 643.66 2.70 14.68 539.31</u></div>
<div><u>Mdsx High 3.39 17.56 645.13 2.71 14.69 539.67</u></div>
<div><u>Mdsx Average3.37 -0.38 17.54 644.39 2.71 -0.44 14.68 539.49</u></div>
<div><u>Hensall 3.35 17.52 643.66 2.70 14.68 539.31</u></div>
<div><u>Bruce 3.40 17.57 645.50 2.70 14.68 539.31</u></div>
<div><u>Putnam 3.35 17.52 643.66 2.70 14.68 539.31</u></div>
<div><u>Burford 3.46 17.63 647.70 2.78 14.76 542.25</u></div>
<div><u>Port Perry 3.38 17.55 644.76 2.70 14.68 539.31</u></div>
<div><u>Norfolk 3.40 17.57 645.50 2.75 14.73 541.14</u></div>
<div><u>Palmerston 3.36 17.53 644.03 2.69 14.67 538.94</u></div>
<div><u>Varna 3.35 17.52 643.66 2.70 14.68 539.31</u></div>
<div><u>Trenton 3.35 17.52 643.66 2.70 14.68 539.31</u></div>
<div><u>Winchester 3.51 17.68 649.54 2.70 14.68 539.31</u></div>
<div><u>North Gower 3.27 17.44 640.72 2.72 14.70 540.04</u></div>
<div><u>Vankleek Hil3.48 17.65 648.43 2.74 14.72 540.78</u></div>
<div><u>Huron FOB 3.59 3.66 3.66 3.71 17.76 652.48 2.82 14.80 543.72</u></div>
<div><u>Kent FOB 3.40 17.57 645.50 2.75 14.73 541.14</u></div>
<div><u>Lambton FOB 3.50 17.67 649.17 2.75 14.73 541.14</u></div>
<div><u>Mdsx FOB 3.52 3.59 3.65 N/A 17.69 649.90 2.86 14.84 545.18</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Windsor 3.78 17.95 659.46 2.99 14.97 549.96</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton 3.85 18.02 662.03 3.20 15.18 557.68</u></div>
<div><u>Prescott N/A 3.12 15.10 554.74</u></div>
<div><u>Port Colborn3.93 18.10 664.97 3.24 15.22 559.15</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.13 14.04 515.89 -0.45 11.53 423.73</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2723 up 0.0090</u></div>
<div><u>Chicago wheat closed slightly higher.</u></div>
<div><u>MAR21 HI 6.93 JUL21 HI 6.70 1/2</u></div>
<div><u> LOW 6.64 1/2 LOW 6.49</u></div>
<div><u> CLOSE 6.75 1/2 Up 5 1/2 CLOSE 6.57 3/4 Up 2 3/4</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly higher.</u></div>
<div><u>MAR21 HI 6.53 1/4 SEP21 HI 6.68</u></div>
<div><u> LOW 6.35 3/4 LOW 6.51 3/4</u></div>
<div><u> CLOSE 6.43 1/4 Up 2 3/4 CLOSE 6.59 Up 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 1.46 1.39 1.39 N/A 1.34 1.34 1.14 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 1.26 1.26 N/A N/A 1.33 1.14 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 1.34 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 1.12 1.12 0.65 N/A 1.20 1.20 0.75</u></div>
<div><u>W O Feed 2.09</u></div>
<div><u><br>
</u></div>
<div><u>TERMINAL</u></div>
<div><u>Port Colbor N/A N/A 1.85 N/A N/A N/A 1.54 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 1.80 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 6.76US 8.59CA 6.53US 8.31CA</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 670.44</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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