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<u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, January 27</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 1.278 up 0.0086</u></div>
<div><u>Chicago corn closed narrowly mixed.</u></div>
<div><u><br>
</u></div>
<div><u> MAR21 HI 5.43 3/4 DEC21 HI 4.51 1/2</u></div>
<div><u> LOW 5.29 1/2 LOW 4.41 1/2</u></div>
<div><u> CLOSE5.34 Up 1 3/4 CLOSE 4.42 1/2 Down 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 6.74 265.34 0.90 5.33 209.64</u></div>
<div><u>CK High 1.40 6.74 265.34 0.95 5.38 211.60</u></div>
<div><u>CK Avg 1.40 -0.07 6.74 265.34 0.91 -0.25 5.33 209.96</u></div>
<div><u>Essex Cty 1.40 6.74 265.34 0.90 5.33 209.64</u></div>
<div><u>Mdsx Low 1.40 6.74 265.34 0.90 5.33 209.64</u></div>
<div><u>Mdsx High 1.40 6.74 265.34 0.90 5.33 209.64</u></div>
<div><u>Mdsx Avg 1.40 -0.07 6.74 265.34 0.90 -0.26 5.33 209.64</u></div>
<div><u>Hensall 1.42 6.76 266.00 0.92 5.34 210.29</u></div>
<div><u>Bruce 1.40 6.74 265.34 0.95 5.38 211.60</u></div>
<div><u>Putnam 1.40 6.74 265.34 0.90 5.33 209.64</u></div>
<div><u>Burford 1.40 6.74 265.34 0.90 5.33 209.64</u></div>
<div><u>Port Perry 1.45 6.79 267.31 1.00 5.43 213.57</u></div>
<div><u>Norfolk 1.40 6.74 265.34 0.90 5.33 209.64</u></div>
<div><u>Palmerston 1.41 6.75 265.74 0.97 5.40 212.39</u></div>
<div><u>Varna 1.40 6.74 265.34 0.90 5.33 209.64</u></div>
<div><u>Trenton 1.40 6.74 265.34 1.00 5.43 213.57</u></div>
<div><u>Winchester 1.45 6.79 267.31 1.25 5.68 223.41</u></div>
<div><u>North Gower 1.49 6.83 268.89 1.26 5.69 223.81</u></div>
<div><u>Vankleek Hil 1.64 6.98 274.79 1.06 5.49 215.93</u></div>
<div><u>Huron FOB 1.58 1.66 1.69 1.70 6.92 272.43 0.96 5.39 212.00</u></div>
<div><u>Kent FOB 1.60 6.94 273.22 1.00 5.43 213.57</u></div>
<div><u>Lamb FOB N/A 1.00 5.43 213.57</u></div>
<div><u>Mdsx FOB N/A N/A N/A N/A 1.05 5.48 215.54</u></div>
<div><u>FOB SW Que 2.39 7.73 304.32N/A</u></div>
<div><u>Track 1.86 7.20 283.25N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A N/A N/A 1.16 5.59 219.87</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A N/A 1.48 5.91 232.47</u></div>
<div><u>Aylmer-Eth N/A N/A N/A N/A 1.20 5.63 221.45</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 1.30 5.73 225.38</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 5.88 231.29</u></div>
<div><u>W O Feed 2.02 7.36 289.67</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 2.11 7.45 293.29</u></div>
<div><u>Toledo El. -0.13 5.21 205.20 -0.26 4.17 164.14</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Pt. Colb 1.90 7.24 285.03 1.20 5.63 221.45</u></div>
<div><u>Prescott N/A 1.49 5.92 232.86</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>HI SD CRN 1.40 6.74</u></div>
<div><u>*Wet Bid</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.278 up 0.0086</u></div>
<div><u>Chicago soybeans closed mixed.</u></div>
<div><u><br>
</u></div>
<div><u> MAR21 HI 13.94 3/4 NOV21 HI 11.64 1/4</u></div>
<div><u> LOW 13.64 1/2 LOW 11.41 1/4</u></div>
<div><u> CLOSE13.74 3/4 Up 4 1/2 CLOSE 11.49 1/4 Up 3/4</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 16.95 622.71 2.60 14.09 517.81</u></div>
<div><u>CK High 3.32 17.07 627.12 2.75 14.24 523.32</u></div>
<div><u>CK Average 3.25 -0.44 17.00 624.67 2.66 -0.42 14.16 520.14</u></div>
<div><u>Essex Cty 3.30 17.05 626.39 2.70 14.19 521.49</u></div>
<div><u>Mdsx Low 3.20 16.95 622.71 2.60 14.09 517.81</u></div>
<div><u>Mdsx High 3.30 17.05 626.39 2.66 14.15 520.02</u></div>
<div><u>Mdsx Average3.25 -0.45 17.00 624.55 2.63 -0.44 14.12 518.91</u></div>
<div><u>Hensall 3.23 16.98 623.94 2.60 14.09 517.81</u></div>
<div><u>Bruce 3.20 16.95 622.71 2.60 14.09 517.81</u></div>
<div><u>Putnam 3.20 16.95 622.71 2.60 14.09 517.81</u></div>
<div><u>Burford 3.37 17.12 628.96 2.73 14.22 522.59</u></div>
<div><u>Port Perry 3.29 17.04 626.02 2.65 14.14 519.65</u></div>
<div><u>Norfolk 3.30 17.05 626.39 2.75 14.24 523.32</u></div>
<div><u>Palmerston 3.35 17.10 628.23 2.67 14.16 520.38</u></div>
<div><u>Varna 3.15 16.90 620.88 2.55 14.04 515.97</u></div>
<div><u>Trenton 3.20 16.95 622.71 2.60 14.09 517.81</u></div>
<div><u>Winchester 3.19 16.94 622.35 2.60 14.09 517.81</u></div>
<div><u>North Gower 3.35 17.10 628.23 2.73 14.22 522.59</u></div>
<div><u>Vankleek Hil3.30 17.05 626.39 2.69 14.18 521.12</u></div>
<div><u>Huron FOB 3.60 3.67 3.67 3.73 17.35 637.41 2.80 14.29 525.16</u></div>
<div><u>Kent FOB 3.30 17.05 626.39 2.75 14.24 523.32</u></div>
<div><u>Lambton FOB 3.25 17.00 624.55 2.80 14.29 525.16</u></div>
<div><u>Mdsx FOB 3.50 3.56 3.56 N/A 17.25 633.74 2.85 14.34 527.00</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Windsor 3.79 17.54 644.39 2.92 14.41 529.57</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton 3.75 17.50 642.92 3.25 14.74 541.69</u></div>
<div><u>Prescott N/A 3.07 14.56 535.08</u></div>
<div><u>Port Colborn3.91 17.66 648.80 3.26 14.75 542.06</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.13 13.62 500.44 -0.45 11.05 405.84</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.278 up 0.0086</u></div>
<div><u>Chicago wheat closed moderately lower.</u></div>
<div><u>MAR21 HI 6.72 3/4 JUL21 HI 6.51 1/4</u></div>
<div><u> LOW 6.52 1/2 LOW 6.36</u></div>
<div><u> CLOSE 6.58 1/4 Down 7 CLOSE 6.40 1/2 Down 7</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly lower.</u></div>
<div><u>MAR21 HI 6.43 3/4 SEP21 HI 6.60 3/4</u></div>
<div><u> LOW 6.28 1/2 LOW 6.47 3/4</u></div>
<div><u> CLOSE 6.32 3/4 Down 5 1/4 CLOSE 6.51 Down 5 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 1.00 N/A</u></div>
<div><u>London 1.46 1.40 1.33 N/A 1.34 1.34 1.08 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 1.00 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 1.10 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 1.35 N/A N/A N/A 1.10 N/A</u></div>
<div><u>Brigden N/A N/A 1.35 N/A N/A N/A 1.10 N/A</u></div>
<div><u>Palmerston N/A 1.25 1.31 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 1.28 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 1.12 1.12 0.75 N/A 1.18 1.18 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 1.85 N/A N/A N/A 1.47 N/A</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Toledo FM N/A N/A 1.83 N/A N/A N/A 1.78 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 6.58US 8.41CA 6.36US 8.12CA</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 646.63</u></div>
<div><u>DDG's FOB Srn & Aylm 340.00 - 350.00</u></div>
<div><u><br>
</u></div>
<div>---</div>
<div>Ontario Grain Market Commentary for January 27, 2021</div>
<div>By Todd Austin, Grain Farmers of Ontario</div>
<div>
<div><br>
</div>
<div>Wednesday, January 27, 2021</div>
<div>COMMODITY PERIOD PRICE WEEKLY MOVEMENT</div>
<div>Corn CBOT Mar 5.34 ¡è 12 Cents</div>
<div>Soybeans CBOT Mar 13.69 ¨ö ¡è 5 ¨ù Cents</div>
<div>Wheat CBOT Mar 6.67 ¨ú ¡é 9 ¨ö Cent</div>
<div>Wheat Minn. Mar 6.37 ¨ö ¡é 4 ¨ú Cents</div>
<div>Wheat Kansas Mar 6.37 ¡é ¨ù Cents</div>
<div>Oats CBOT Mar 3.64 ¡é 11 ¨ö Cents</div>
<div></div>
<div>Canadian $ Mar 0.7824 ¡é 85 Points</div>
<div><br>
</div>
<div><br>
</div>
<div>CORN: </div>
<div>China has been reported to have purchased 1.6 million tonnes of U.S. corn for delivery in this marketing year. It is now the fifth time since 1994 that China has exceeded 1 million tonnes in a single day. In the USDA¡¯s recent weekly Export Sales report,
exports and undelivered sales of U.S. corn to China for delivery in the 2020-2021 marketing year total 11.8 million tonnes. China has also been reported to have purchased 200 million gallons of U.S. ethanol for shipment in the first half of this year. Futures
markets have responded to this recent news by posting a 2-week high.</div>
<div><br>
</div>
<div>SOYBEANS: </div>
<div>Brazilian soybean harvest sits at 1 per cent complete as of last week compared to over 4 per cent last year. Recent rains have delayed early bean harvest. However, later maturing beans should benefit from this moisture. The slow harvest pace in Brazil
has supported soybean futures values. </div>
<div>U.S. crush plants have been booking soybean purchases well beyond their normal supply due to rising export demand and rising prices. There are fears of soybean shortages later this marketing year. Some crush plants have booked their soybean needs for the
next 60 days rather than just their usual 30 to 40 days. U.S. soybean supplies are forecast to reach a seven -year low by the end of the marketing year, even with a large harvested crop, due to record U.S. crush and exports this year.</div>
<div><br>
</div>
<div>WHEAT:</div>
<div>Argentina is working to ensure ample domestic wheat supplies. They are the 7th largest wheat exporting country, with the majority of exports going to neighbouring Brazil. Of the 17.2 million tonnes of wheat harvested this year, 10 million tonnes will
likely be exported. To date, official data indicated that exporters have purchased 8.9 million tonnes. Argentina may limit exports in an effort to slow increases in domestic food prices.</div>
<div>Australia is expected to harvest 31 million tonnes of wheat this year. This figure is more than twice the amount harvested last year as drought limited production to an estimated 15 million. A grain handler in the New South Wales region is reported to
have deliveries of 8.4 million tonnes so far this year compared to 500,000 tonnes last year at this time.
</div>
<div><br>
</div>
<div>---</div>
<div><br>
</div>
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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>
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<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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