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<u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Tue, January 26</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 1.2694 down 0.0051</u></div>
<div><u>Chicago corn closed higher to sharply higher.</u></div>
<div><u><br>
</u></div>
<div><u> MAR21 HI 5.34 1/4 DEC21 HI 4.47 1/4</u></div>
<div><u> LOW 5.08 LOW 4.32 1/4</u></div>
<div><u> CLOSE5.32 1/4 Up 20 3/4 CLOSE 4.44 1/2 Up 9 3/4</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 6.72 264.65 0.90 5.35 210.42</u></div>
<div><u>CK High 1.40 6.72 264.65 0.95 5.40 212.39</u></div>
<div><u>CK Avg 1.40 -0.03 6.72 264.65 0.92 -0.22 5.36 211.08</u></div>
<div><u>Essex Cty 1.40 6.72 264.65 0.90 5.35 210.42</u></div>
<div><u>Mdsx Low 1.40 6.72 264.65 0.90 5.35 210.42</u></div>
<div><u>Mdsx High 1.40 6.72 264.65 0.90 5.35 210.42</u></div>
<div><u>Mdsx Avg 1.40 -0.03 6.72 264.65 0.90 -0.23 5.35 210.42</u></div>
<div><u>Hensall 1.42 6.74 265.31 0.93 5.38 211.74</u></div>
<div><u>Bruce 1.40 6.72 264.65 0.95 5.40 212.39</u></div>
<div><u>Putnam 1.40 6.72 264.65 0.90 5.35 210.42</u></div>
<div><u>Burford 1.40 6.72 264.65 0.90 5.35 210.42</u></div>
<div><u>Port Perry 1.45 6.77 266.62 1.00 5.45 214.36</u></div>
<div><u>Norfolk 1.40 6.72 264.65 0.90 5.35 210.42</u></div>
<div><u>Palmerston 1.37 6.69 263.47 0.94 5.39 212.00</u></div>
<div><u>Varna 1.40 6.72 264.65 0.90 5.35 210.42</u></div>
<div><u>Trenton 1.40 6.72 264.65 1.00 5.45 214.36</u></div>
<div><u>Winchester 1.45 6.77 266.62 1.25 5.70 224.20</u></div>
<div><u>North Gower 1.49 6.81 268.20 1.26 5.71 224.60</u></div>
<div><u>Vankleek Hil 1.56 6.88 270.95 1.01 5.46 214.75</u></div>
<div><u>Huron FOB 1.52 1.52 1.55 1.62 6.84 269.38 0.97 5.42 213.18</u></div>
<div><u>Kent FOB 1.60 6.92 272.53 1.00 5.45 214.36</u></div>
<div><u>Lamb FOB N/A 1.00 5.45 214.36</u></div>
<div><u>Mdsx FOB N/A N/A N/A N/A 1.00 5.45 214.36</u></div>
<div><u>FOB SW Que 2.61 7.93 312.29N/A</u></div>
<div><u>Track 1.87 7.19 282.96N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A N/A N/A 1.13 5.58 219.48</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A N/A 1.44 5.89 231.68</u></div>
<div><u>Aylmer-Eth N/A N/A N/A N/A 1.20 5.65 222.23</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 5.75 226.17</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 1.45 5.90 232.08</u></div>
<div><u>W O Feed 1.99 7.31 287.96</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 2.07 7.39 291.03</u></div>
<div><u>Toledo El. -0.13 5.20 204.54 -0.25 4.19 165.00</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Pt. Colb 1.90 7.22 284.34 1.20 5.65 222.23</u></div>
<div><u>Prescott N/A 1.44 5.89 231.68</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>HI SD CRN 1.40 6.72 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 1.2694 down 0.0051</u></div>
<div><u>Chicago soybeans closed moderately higher to higher.</u></div>
<div><u><br>
</u></div>
<div><u> MAR21 HI 13.76 1/2 NOV21 HI 11.53 1/4</u></div>
<div><u> LOW 13.33 1/2 LOW 11.18 3/4</u></div>
<div><u> CLOSE13.70 1/4 Up 26 3/4 CLOSE 11.48 1/2 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 3.20 16.90 621.06 2.56 14.05 516.07</u></div>
<div><u>CK High 3.23 16.93 622.16 2.60 14.09 517.54</u></div>
<div><u>CK Average 3.21 -0.38 16.91 621.24 2.59 -0.39 14.08 517.29</u></div>
<div><u>Essex Cty 3.20 16.90 621.06 2.55 14.04 515.70</u></div>
<div><u>Mdsx Low 3.20 16.90 621.06 2.54 14.03 515.33</u></div>
<div><u>Mdsx High 3.21 16.91 621.43 2.60 14.09 517.54</u></div>
<div><u>Mdsx Average3.21 -0.38 16.91 621.24 2.57 -0.41 14.06 516.43</u></div>
<div><u>Hensall 3.17 16.87 619.84 2.57 14.05 516.31</u></div>
<div><u>Bruce 3.15 16.85 619.22 2.55 14.04 515.70</u></div>
<div><u>Putnam 3.20 16.90 621.06 2.60 14.09 517.54</u></div>
<div><u>Burford 3.28 16.98 624.00 2.61 14.10 517.90</u></div>
<div><u>Port Perry 3.20 16.90 621.06 2.53 14.02 514.96</u></div>
<div><u>Norfolk 3.20 16.90 621.06 2.60 14.09 517.54</u></div>
<div><u>Palmerston 3.25 16.95 622.90 2.58 14.07 516.80</u></div>
<div><u>Varna 3.15 16.85 619.22 2.55 14.04 515.70</u></div>
<div><u>Trenton 3.15 16.85 619.22 2.60 14.09 517.54</u></div>
<div><u>Winchester 3.19 16.89 620.69 2.60 14.09 517.54</u></div>
<div><u>North Gower 3.35 17.05 626.57 2.73 14.22 522.31</u></div>
<div><u>Vankleek Hil3.18 16.88 620.33 2.64 14.13 519.00</u></div>
<div><u>Huron FOB 3.44 3.50 3.50 3.56 17.14 629.88 2.68 14.17 520.47</u></div>
<div><u>Kent FOB 3.20 16.90 621.06 2.60 14.09 517.54</u></div>
<div><u>Lambton FOB 3.25 16.95 622.90 2.80 14.29 524.88</u></div>
<div><u>Mdsx FOB 3.34 3.40 3.40 N/A 17.04 626.20 2.73 14.22 522.31</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Windsor 3.69 17.39 639.06 2.85 14.34 526.72</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton 3.65 17.35 637.60 3.05 14.54 534.07</u></div>
<div><u>Prescott N/A 3.02 14.51 532.97</u></div>
<div><u>Port Colborn3.75 17.45 641.27 3.14 14.63 537.38</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.13 13.58 498.82 -0.44 11.04 405.68</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2694 down 0.0051</u></div>
<div><u>Chicago wheat closed moderately higher to higher.</u></div>
<div><u>MAR21 HI 6.67 3/4 JUL21 HI 6.48 1/2</u></div>
<div><u> LOW 6.41 1/4 LOW 6.26 1/2</u></div>
<div><u> CLOSE 6.65 1/4 Up 16 3/4 CLOSE 6.47 1/2 Up 13 3/4</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed higher.</u></div>
<div><u>MAR21 HI 6.42 SEP21 HI 6.59</u></div>
<div><u> LOW 6.22 LOW 6.41 3/4</u></div>
<div><u> CLOSE 6.38 Up 12 CLOSE 6.56 3/4 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 1.25 N/A N/A N/A 1.00 N/A</u></div>
<div><u>London 1.37 1.31 1.24 N/A 1.26 1.26 1.01 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 1.00 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 1.22 1.29 N/A N/A 1.30 1.11 N/A</u></div>
<div><u>Varna 1.30 1.35 1.30 N/A 1.20 1.20 1.00 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 1.20 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 1.98</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 1.40 N/A</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Toledo FM N/A N/A 1.79 N/A N/A N/A 1.74 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 6.65US 8.44CA 6.43US 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 646.52</u></div>
<div><u>DDG's FOB Srn & Aylm 340.00 - 350.00</u></div>
<div><u><br>
</u></div>
<u><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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