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<u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, January 20</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 1.2646 down 0.0084</u></div>
<div><u>Chicago corn closed slightly to moderately lower.</u></div>
<div><u><br>
</u></div>
<div><u> MAR21 HI 5.26 1/2 DEC21 HI 4.54 1/4</u></div>
<div><u> LOW 5.12 3/4 LOW 4.45 1/2</u></div>
<div><u> CLOSE5.22 Down 4 CLOSE 4.49 Down 6</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 6.62 260.62 0.90 5.39 212.19</u></div>
<div><u>CK High 1.45 6.67 262.59 0.95 5.44 214.16</u></div>
<div><u>CK Avg 1.41 0.02 6.63 260.95 0.93 -0.20 5.42 213.51</u></div>
<div><u>Essex Cty 1.40 6.62 260.62 0.90 5.39 212.19</u></div>
<div><u>Mdsx Low 1.40 6.62 260.62 0.95 5.44 214.16</u></div>
<div><u>Mdsx High 1.45 6.67 262.59 0.95 5.44 214.16</u></div>
<div><u>Mdsx Avg 1.43 0.03 6.65 261.60 0.95 -0.19 5.44 214.16</u></div>
<div><u>Hensall 1.42 6.64 261.27 0.97 5.46 214.82</u></div>
<div><u>Bruce 1.40 6.62 260.62 0.95 5.44 214.16</u></div>
<div><u>Putnam 1.40 6.62 260.62 0.95 5.44 214.16</u></div>
<div><u>Burford 1.45 6.67 262.59 0.95 5.44 214.16</u></div>
<div><u>Port Perry 1.45 6.67 262.59 1.00 5.49 216.13</u></div>
<div><u>Norfolk 1.40 6.62 260.62 0.90 5.39 212.19</u></div>
<div><u>Palmerston 1.32 6.54 257.47 0.93 5.42 213.38</u></div>
<div><u>Varna 1.40 6.62 260.62 0.95 5.44 214.16</u></div>
<div><u>Trenton 1.40 6.62 260.62 1.00 5.49 216.13</u></div>
<div><u>Winchester 1.45 6.67 262.59 1.25 5.74 225.97</u></div>
<div><u>North Gower 1.49 6.71 264.16 1.26 5.75 226.37</u></div>
<div><u>Vankleek Hil 1.54 6.76 266.13 1.03 5.52 217.31</u></div>
<div><u>Huron FOB 1.44 1.44 1.47 1.50 6.66 262.19 0.90 5.39 212.19</u></div>
<div><u>Kent FOB 1.60 6.82 268.49 1.00 5.49 216.13</u></div>
<div><u>Lamb FOB N/A 1.00 5.49 216.13</u></div>
<div><u>Mdsx FOB N/A N/A N/A N/A 1.00 5.49 216.13</u></div>
<div><u>FOB SW Que 1.97 7.19 283.06N/A</u></div>
<div><u>Track 1.84 7.06 277.94N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A N/A N/A 1.09 5.58 219.67</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A N/A 1.41 5.90 232.27</u></div>
<div><u>Aylmer-Eth N/A N/A N/A N/A 1.20 5.69 224.01</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 5.74 225.97</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 5.84 229.91</u></div>
<div><u>W O Feed 1.99 7.21 283.69</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 2.01 7.23 284.63</u></div>
<div><u>Toledo El. -0.06 5.16 203.01 -0.25 4.24 166.81</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Pt. Colb 1.90 7.12 280.30 1.20 5.69 224.01</u></div>
<div><u>Prescott N/A 1.47 5.96 234.63</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>HI SD CRN 1.45 6.67</u></div>
<div><u>*Wet Bid</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2646 down 0.0084</u></div>
<div><u>Chicago soybeans closed moderately lower.</u></div>
<div><u><br>
</u></div>
<div><u> MAR21 HI 13.84 1/2 NOV21 HI 11.86 1/2</u></div>
<div><u> LOW 13.52 LOW 11.64 3/4</u></div>
<div><u> CLOSE13.69 1/2 Down 16 1/4 CLOSE 11.71 3/4 Down 17</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 3.21 16.91 621.15 2.64 14.36 527.55</u></div>
<div><u>CK High 3.30 17.00 624.46 2.70 14.42 529.75</u></div>
<div><u>CK Average 3.25 -0.29 16.95 622.68 2.67 -0.34 14.39 528.77</u></div>
<div><u>Essex Cty 3.25 16.95 622.62 2.65 14.37 527.92</u></div>
<div><u>Mdsx Low 3.19 16.89 620.42 2.62 14.34 526.81</u></div>
<div><u>Mdsx High 3.25 16.95 622.62 2.65 14.37 527.92</u></div>
<div><u>Mdsx Average3.22 -0.32 16.92 621.52 2.64 -0.37 14.35 527.36</u></div>
<div><u>Hensall 3.25 16.95 622.62 2.62 14.33 526.69</u></div>
<div><u>Bruce 3.25 16.95 622.62 2.65 14.37 527.92</u></div>
<div><u>Putnam 3.25 16.95 622.62 2.65 14.37 527.92</u></div>
<div><u>Burford 3.26 16.96 622.99 2.69 14.41 529.39</u></div>
<div><u>Port Perry 3.18 16.88 620.05 2.61 14.33 526.45</u></div>
<div><u>Norfolk 3.25 16.95 622.62 2.70 14.42 529.75</u></div>
<div><u>Palmerston 3.18 16.88 620.05 2.59 14.31 525.71</u></div>
<div><u>Varna 3.25 16.95 622.62 2.60 14.32 526.08</u></div>
<div><u>Trenton 3.25 16.95 622.62 2.70 14.42 529.75</u></div>
<div><u>Winchester 3.25 16.95 622.62 2.71 14.43 530.12</u></div>
<div><u>North Gower 3.35 17.05 626.30 2.73 14.45 530.85</u></div>
<div><u>Vankleek Hil3.14 16.84 618.58 2.64 14.36 527.55</u></div>
<div><u>Huron FOB 3.34 3.40 3.40 3.46 17.04 625.93 2.67 14.39 528.65</u></div>
<div><u>Kent FOB 3.25 16.95 622.62 2.70 14.42 529.75</u></div>
<div><u>Lambton FOB 3.25 16.95 622.62 2.80 14.52 533.43</u></div>
<div><u>Mdsx FOB 3.32 3.38 3.45 N/A 17.02 625.19 2.83 14.55 534.53</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Windsor 3.59 17.29 635.12 2.87 14.59 536.00</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton 3.70 17.40 639.16 3.15 14.87 546.29</u></div>
<div><u>Prescott N/A 3.02 14.74 541.51</u></div>
<div><u>Port Colborn3.73 17.43 640.26 3.22 14.94 548.86</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.13 13.57 498.56 -0.44 11.27 414.28</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2646 down 0.0084</u></div>
<div><u>Chicago wheat closed slightly to moderately lower.</u></div>
<div><u>MAR21 HI 6.76 JUL21 HI 6.61 1/4</u></div>
<div><u> LOW 6.56 1/2 LOW 6.44</u></div>
<div><u> CLOSE 6.67 3/4 Down 4 1/2 CLOSE 6.50 1/2 Down 7 3/4</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed moderately lower.</u></div>
<div><u>MAR21 HI 6.46 3/4 SEP21 HI 6.60</u></div>
<div><u> LOW 6.31 3/4 LOW 6.46 1/2</u></div>
<div><u> CLOSE 6.37 1/2 Down 6 CLOSE 6.52 1/4 Down 6 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 1.35 N/A N/A N/A 1.05 N/A</u></div>
<div><u>London 1.38 1.32 1.26 N/A 1.29 1.29 1.04 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 1.40 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 1.40 N/A N/A N/A 1.05 N/A</u></div>
<div><u>Brigden N/A N/A 1.40 N/A N/A N/A 1.05 N/A</u></div>
<div><u>Palmerston N/A 1.19 1.26 N/A N/A 1.27 1.08 N/A</u></div>
<div><u>Varna 1.30 1.35 1.30 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 1.12 1.12 0.75 N/A 1.20 1.20 0.75</u></div>
<div><u>W O Feed 2.00</u></div>
<div><u><br>
</u></div>
<div><u>TERMINAL</u></div>
<div><u>Port Colbor N/A N/A 1.77 N/A N/A N/A 1.43 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 1.72 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 6.68US 8.44CA 6.46US 8.16CA</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 653.02</u></div>
<div><u>DDG's FOB Srn & Aylm 330.00 - 340.00</u></div>
<div><u><br>
</u></div>
<div>---</div>
<div>Ontario Grain Market Commentary for January 20, 2021</div>
<div>By Todd Austin, Grain Farmers of Ontario</div>
<div><u><br>
</u></div>
<div>
<div style="text-decoration-line: underline;">Wednesday, January 20, 2021<br>
</div>
<div style="">COMMODITY PERIOD PRICE WEEKLY MOVEMENT</div>
<div style="">Corn CBOT Mar 5.22 ¡é 2 ¨ö Cents</div>
<div style="">Soybeans CBOT Mar 13.69 ¨ö ¡é 36 ¨ú Cents</div>
<div style="">Wheat CBOT Mar 6.67 ¨ú ¡è 7 ¨ù Cent</div>
<div style="">Wheat Minn. Mar 6.37 ¨ö ¡è 8 ¨ú Cents</div>
<div style="">Wheat Kansas Mar 6.37 ¡è 11 ¨ù Cents</div>
<div style="">Oats CBOT Mar 3.64 ¡è 2 ¨ù Cents</div>
<div style=""></div>
<div style="">Canadian $ Mar 0.7909 ¡è 24 Points</div>
<div style=""><br>
</div>
<div style=""><br>
</div>
<div style="">CORN: </div>
<div style="">China imported 11.3 million tonnes of corn in 2020. This figure exceeds their annual import quota of 7.2 million tonnes. In 2019, China imported nearly 5 million tonnes of corn. Such an increase in the purchasing of global grains in 2020 is a
result of a recovering domestic hog sector coupled with a shortfall in domestic corn supplies.</div>
<div style="">According to Chinese officials, China will increase corn acreage in 2021. In 2020, China planted 41.3 million hectares (102 million acres) of corn.</div>
<div style=""><br>
</div>
<div style="">SOYBEANS: </div>
<div style="">Brazilian soybean exports have slowed this month on tight stocks. In the first half of January, Brazil exported 17,500 metric tonnes compared to 630,000 tonnes shipped out in the same period last year. As harvest picks up, Brazilian exports are
expected to increase in February.</div>
<div style="">China imported a record 100.33 million tonnes of soybeans in 2020. Of this total, Brazil shipped 64 million tonnes to China in the same year. 26 million tonnes came from the U.S. This is an increase of 9 million tonnes from the previous year.</div>
<div style=""><br>
</div>
<div style="">WHEAT:</div>
<div style="">Chicago wheat continues to trade close to highs made in early 2014. The peak in 2014 was $6.93. Russian export tax on wheat shipments and news that the tax will remain past June, is attributed to this current strength in the wheat futures.</div>
<div style="">Russian exports increased ahead of the implementation of the new export tax. Russia does plan on implementing a higher export tax on wheat in the beginning of March. These taxes have been introduced to offset the rise in domestic food prices.
</div>
<div style=""><br>
</div>
---</div>
<div><br>
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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>
<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>
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<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>
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