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<u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Mon, January 25</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 1.2745 up 0.0022</u></div>
<div><u>Chicago corn closed moderately higher to higher.</u></div>
<div><u><br>
</u></div>
<div><u> MAR21 HI 5.15 1/2 DEC21 HI 4.38</u></div>
<div><u> LOW 4.92 1/2 LOW 4.23 1/2</u></div>
<div><u> CLOSE5.11 1/2 Up 11 CLOSE 4.34 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 6.52 256.48 0.90 5.25 206.58</u></div>
<div><u>CK High 1.40 6.52 256.48 0.95 5.30 208.55</u></div>
<div><u>CK Avg 1.40 0.00 6.52 256.48 0.91 -0.22 5.26 206.91</u></div>
<div><u>Essex Cty 1.40 6.52 256.48 0.90 5.25 206.58</u></div>
<div><u>Mdsx Low 1.40 6.52 256.48 0.90 5.25 206.58</u></div>
<div><u>Mdsx High 1.40 6.52 256.48 0.90 5.25 206.58</u></div>
<div><u>Mdsx Avg 1.40 0.00 6.52 256.48 0.90 -0.23 5.25 206.58</u></div>
<div><u>Hensall 1.42 6.53 257.14 0.95 5.30 208.55</u></div>
<div><u>Bruce 1.40 6.52 256.48 0.95 5.30 208.55</u></div>
<div><u>Putnam 1.40 6.52 256.48 0.90 5.25 206.58</u></div>
<div><u>Burford 1.40 6.52 256.48 0.90 5.25 206.58</u></div>
<div><u>Port Perry 1.45 6.57 258.45 1.00 5.35 210.52</u></div>
<div><u>Norfolk 1.40 6.52 256.48 0.90 5.25 206.58</u></div>
<div><u>Palmerston 1.33 6.45 253.73 0.93 5.28 207.77</u></div>
<div><u>Varna 1.40 6.52 256.48 0.95 5.30 208.55</u></div>
<div><u>Trenton 1.45 6.57 258.45 1.00 5.35 210.52</u></div>
<div><u>Winchester 1.45 6.57 258.45 1.25 5.60 220.36</u></div>
<div><u>North Gower 1.49 6.61 260.03 1.26 5.61 220.76</u></div>
<div><u>Vankleek Hil 1.51 6.63 260.81 0.99 5.34 210.13</u></div>
<div><u>Huron FOB 1.50 1.50 1.53 1.60 6.62 260.42 0.92 5.27 207.37</u></div>
<div><u>Kent FOB 1.60 6.72 264.36 1.00 5.35 210.52</u></div>
<div><u>Lamb FOB N/A 1.00 5.35 210.52</u></div>
<div><u>Mdsx FOB N/A N/A N/A N/A 1.00 5.35 210.52</u></div>
<div><u>FOB SW Que 2.21 7.33 288.37N/A</u></div>
<div><u>Track 1.85 6.97 274.20N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A N/A N/A 1.13 5.48 215.64</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A N/A 1.44 5.79 227.84</u></div>
<div><u>Aylmer-Eth N/A N/A N/A N/A 1.20 5.55 218.40</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 1.30 5.65 222.33</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 5.70 224.30</u></div>
<div><u>W O Feed 2.00 7.12 280.18</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 2.03 7.15 281.29</u></div>
<div><u>Toledo El. -0.13 4.99 196.35 -0.25 4.09 161.12</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Pt. Colb 1.90 7.02 276.17 1.20 5.55 218.40</u></div>
<div><u>Prescott N/A 1.42 5.77 227.06</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>HI SD CRN 1.40 6.51 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 1.2745 up 0.0022</u></div>
<div><u>Chicago soybeans closed moderately higher to higher.</u></div>
<div><u><br>
</u></div>
<div><u> MAR21 HI 13.52 1/4 NOV21 HI 11.37 1/2</u></div>
<div><u> LOW 12.98 LOW 10.97</u></div>
<div><u> CLOSE13.43 1/2 Up 31 3/4 CLOSE 11.30 1/4 Up 18 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 3.09 16.53 607.19 2.51 13.81 507.52</u></div>
<div><u>CK High 3.15 16.59 609.39 2.60 13.90 510.83</u></div>
<div><u>CK Average 3.12 -0.44 16.56 608.41 2.55 -0.43 13.85 509.05</u></div>
<div><u>Essex Cty 3.10 16.54 607.56 2.50 13.80 507.16</u></div>
<div><u>Mdsx Low 3.07 16.51 606.45 2.49 13.79 506.79</u></div>
<div><u>Mdsx High 3.15 16.59 609.39 2.55 13.85 508.99</u></div>
<div><u>Mdsx Average3.11 -0.45 16.55 607.92 2.52 -0.45 13.82 507.89</u></div>
<div><u>Hensall 3.15 16.59 609.39 2.55 13.85 508.99</u></div>
<div><u>Bruce 3.15 16.59 609.39 2.55 13.85 508.99</u></div>
<div><u>Putnam 3.15 16.59 609.39 2.55 13.85 508.99</u></div>
<div><u>Burford 3.14 16.58 609.03 2.56 13.86 509.36</u></div>
<div><u>Port Perry 3.06 16.50 606.09 2.48 13.78 506.42</u></div>
<div><u>Norfolk 3.10 16.54 607.56 2.55 13.85 508.99</u></div>
<div><u>Palmerston 3.23 16.67 612.33 2.57 13.87 509.73</u></div>
<div><u>Varna 3.20 16.64 611.23 2.60 13.90 510.83</u></div>
<div><u>Trenton 3.20 16.64 611.23 2.60 13.90 510.83</u></div>
<div><u>Winchester 3.20 16.64 611.23 2.61 13.91 511.20</u></div>
<div><u>North Gower 3.35 16.79 616.74 2.73 14.03 515.61</u></div>
<div><u>Vankleek Hil3.06 16.50 606.09 2.51 13.81 507.52</u></div>
<div><u>Huron FOB 3.44 3.47 3.47 3.53 16.88 620.05 2.67 13.97 513.40</u></div>
<div><u>Kent FOB 3.10 16.54 607.56 2.55 13.85 508.99</u></div>
<div><u>Lambton FOB 3.25 16.69 613.07 2.80 14.10 518.18</u></div>
<div><u>Mdsx FOB 3.20 3.27 3.33 N/A 16.64 611.23 2.65 13.95 512.67</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Windsor 3.69 17.13 629.24 2.85 14.15 520.02</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton 3.55 16.99 624.09 3.00 14.30 525.53</u></div>
<div><u>Prescott N/A 2.95 14.25 523.69</u></div>
<div><u>Port Colborn3.61 17.05 626.30 3.06 14.36 527.73</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.13 13.31 488.97 -0.45 10.86 398.92</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2745 up 0.0022</u></div>
<div><u>Chicago wheat closed moderately higher to higher.</u></div>
<div><u>MAR21 HI 6.51 1/2 JUL21 HI 6.35 3/4</u></div>
<div><u> LOW 6.24 1/4 LOW 6.15 1/4</u></div>
<div><u> CLOSE 6.48 1/2 Up 14 CLOSE 6.33 3/4 Up 9 3/4</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed higher.</u></div>
<div><u>MAR21 HI 6.27 1/2 SEP21 HI 6.46 1/4</u></div>
<div><u> LOW 6.05 LOW 6.26</u></div>
<div><u> CLOSE 6.26 Up 13 1/2 CLOSE 6.44 1/4 Up 12 1/2</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 1.00 N/A</u></div>
<div><u>London 1.33 1.26 1.20 N/A 1.23 1.23 0.97 N/A</u></div>
<div><u>Hensall 1.40 N/A 1.35 N/A 1.30 N/A 1.00 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 1.25 N/A N/A N/A 1.00 N/A</u></div>
<div><u>Norwich 1.40 N/A 1.35 N/A 1.30 N/A 1.00 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 1.40 N/A 1.35 N/A 1.30 N/A 1.00 N/A</u></div>
<div><u>Chatham N/A N/A 1.25 N/A N/A N/A 1.00 N/A</u></div>
<div><u>Brigden N/A N/A 1.25 N/A N/A N/A 1.00 N/A</u></div>
<div><u>Palmerston N/A 1.20 1.26 N/A N/A 1.28 1.09 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 1.40 1.50 1.35 N/A 1.30 1.25 1.00 N/A</u></div>
<div><u>Thornton N/A N/A N/A 1.12 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 2.01</u></div>
<div><u><br>
</u></div>
<div><u>TERMINAL</u></div>
<div><u>Port Colbor N/A N/A 1.72 N/A N/A N/A 1.36 N/A</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Toledo FM N/A N/A 1.78 N/A N/A N/A 1.73 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 6.49US 8.26CA 6.29US 8.01CA</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 638.91</u></div>
<div><u>DDG's FOB Srn & Aylm 340.00 - 350.00</u></div>
<u><br>
</u></div>
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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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