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<u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, February 3</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 1.2776 down 0.0029</u></div>
<div><u>Chicago corn closed slightly higher to higher.</u></div>
<div><u><br>
</u></div>
<div><u> MAR21 HI 5.52 1/2 DEC21 HI 4.51 1/2</u></div>
<div><u> LOW 5.36 1/2 LOW 4.43</u></div>
<div><u> CLOSE5.52 Up 9 CLOSE 4.51 Up 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 +MAY21+MAY21+JUL21</u></div>
<div><u>CK Low 1.40 6.92 272.43 0.90 5.41 212.98</u></div>
<div><u>CK High 1.45 6.97 274.40 0.95 5.46 214.95</u></div>
<div><u>CK Avg 1.43 -0.08 6.95 273.74 0.91 -0.27 5.42 213.31</u></div>
<div><u>Essex Cty 1.45 6.97 274.40 0.90 5.41 212.98</u></div>
<div><u>Mdsx Low 1.40 6.92 272.43 0.90 5.41 212.98</u></div>
<div><u>Mdsx High 1.45 6.97 274.40 0.90 5.41 212.98</u></div>
<div><u>Mdsx Avg 1.43 -0.08 6.95 273.41 0.90 -0.28 5.41 212.98</u></div>
<div><u>Hensall 1.45 6.97 274.40 0.92 5.43 213.64</u></div>
<div><u>Bruce 1.45 6.97 274.40 0.90 5.41 212.98</u></div>
<div><u>Putnam 1.40 6.92 272.43 0.90 5.41 212.98</u></div>
<div><u>Burford 1.45 6.97 274.40 0.90 5.41 212.98</u></div>
<div><u>Port Perry 1.45 6.97 274.40 1.00 5.51 216.92</u></div>
<div><u>Norfolk 1.45 6.97 274.40 0.90 5.41 212.98</u></div>
<div><u>Palmerston 1.47 6.99 275.18 0.93 5.44 214.16</u></div>
<div><u>Varna 1.45 6.97 274.40 0.90 5.41 212.98</u></div>
<div><u>Trenton 1.45 6.97 274.40 1.00 5.51 216.92</u></div>
<div><u>Winchester 1.45 6.97 274.40 1.25 5.76 226.76</u></div>
<div><u>North Gower 1.49 7.01 275.97 1.26 5.77 227.15</u></div>
<div><u>Vankleek Hil 1.66 7.18 282.66 1.06 5.57 219.28</u></div>
<div><u>Huron FOB 1.54 1.66 1.70 1.79 7.06 277.94 0.95 5.46 214.95</u></div>
<div><u>Kent FOB 1.65 7.17 282.27 1.00 5.51 216.92</u></div>
<div><u>Lamb FOB N/A 1.05 5.56 218.89</u></div>
<div><u>Mdsx FOB 1.65N/A N/A N/A 7.17 282.27 1.05 5.56 218.89</u></div>
<div><u>FOB SW Que 2.24 7.76 305.50N/A</u></div>
<div><u>Track 1.90 7.42 291.92N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A N/A N/A 1.06 5.57 219.28</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A N/A 1.44 5.95 234.24</u></div>
<div><u>Aylmer-Eth N/A N/A N/A 1.90 1.20 5.71 224.79</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 1.95 1.30 5.81 228.73</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 2.05 1.45 5.96 234.63</u></div>
<div><u>W O Feed 2.05 7.57 297.86</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 2.17 7.69 302.74</u></div>
<div><u>Toledo El. -0.09 5.43 213.79 -0.26 4.25 167.49</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Pt. Colb 1.95 7.47 294.08 1.35 5.86 230.70</u></div>
<div><u>Prescott N/A 1.50 6.01 236.60</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>HI SD CRN 1.45 6.97</u></div>
<div><u>*Wet Bid</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2776 down 0.0029</u></div>
<div><u>Chicago soybeans closed slightly to moderately higher.</u></div>
<div><u><br>
</u></div>
<div><u> MAR21 HI 13.72 1/2 NOV21 HI 11.58</u></div>
<div><u> LOW 13.42 1/2 LOW 11.35 3/4</u></div>
<div><u> CLOSE13.71 1/4 Up 16 1/2 CLOSE 11.56 1/4 Up 5 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+MAY21+MAY21</u></div>
<div><u>CK Low 3.35 17.06 626.94 2.74 14.30 525.53</u></div>
<div><u>CK High 3.40 17.11 628.78 2.80 14.36 527.73</u></div>
<div><u>CK Average 3.39 -0.33 17.10 628.47 2.79 -0.33 14.35 527.36</u></div>
<div><u>Essex Cty 3.40 17.11 628.78 2.70 14.26 524.06</u></div>
<div><u>Mdsx Low 3.33 17.04 626.20 2.72 14.28 524.79</u></div>
<div><u>Mdsx High 3.40 17.11 628.78 2.80 14.36 527.73</u></div>
<div><u>Mdsx Average3.37 -0.35 17.08 627.49 2.76 -0.35 14.32 526.26</u></div>
<div><u>Hensall 3.37 17.08 627.55 2.75 14.31 525.89</u></div>
<div><u>Bruce 3.40 17.11 628.78 2.80 14.36 527.73</u></div>
<div><u>Putnam 3.40 17.11 628.78 2.80 14.36 527.73</u></div>
<div><u>Burford 3.40 17.11 628.78 2.79 14.35 527.36</u></div>
<div><u>Port Perry 3.32 17.03 625.84 2.71 14.27 524.42</u></div>
<div><u>Norfolk 3.40 17.11 628.78 2.80 14.36 527.73</u></div>
<div><u>Palmerston 3.37 17.08 627.67 2.70 14.26 524.06</u></div>
<div><u>Varna 3.35 17.06 626.94 2.75 14.31 525.89</u></div>
<div><u>Trenton 3.35 17.06 626.94 2.75 14.31 525.89</u></div>
<div><u>Winchester 3.35 17.06 626.94 2.75 14.31 525.89</u></div>
<div><u>North Gower 3.38 17.09 628.04 2.78 14.34 527.00</u></div>
<div><u>Vankleek Hil3.32 17.03 625.84 2.75 14.31 525.89</u></div>
<div><u>Huron FOB 3.61 3.61 3.66 3.66 17.32 636.49 2.86 14.42 529.94</u></div>
<div><u>Kent FOB 3.50 17.21 632.45 2.80 14.36 527.73</u></div>
<div><u>Lambton FOB 3.65 17.36 637.96 2.95 14.51 533.24</u></div>
<div><u>Mdsx FOB 3.53 3.59 N/A N/A 17.24 633.55 2.92 14.48 532.14</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Windsor 3.86 17.57 645.68 2.95 14.51 533.24</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton 3.90 17.61 647.15 3.25 14.81 544.27</u></div>
<div><u>Prescott N/A 3.07 14.63 537.65</u></div>
<div><u>Port Colborn3.87 17.58 646.05 3.33 14.89 547.21</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.13 13.58 499.15 -0.45 11.12 408.42</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2776 down 0.0029</u></div>
<div><u>Chicago wheat closed slightly higher.</u></div>
<div><u>MAR21 HI 6.49 3/4 JUL21 HI 6.33 3/4</u></div>
<div><u> LOW 6.25 3/4 LOW 6.16</u></div>
<div><u> CLOSE 6.48 1/4 Up 3 1/2 CLOSE 6.33 Up 3</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly higher.</u></div>
<div><u>MAR21 HI 6.27 1/4 SEP21 HI 6.46 1/2</u></div>
<div><u> LOW 6.09 1/2 LOW 6.31</u></div>
<div><u> CLOSE 6.25 Up 4 CLOSE 6.45 1/2 Up 4 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 1.40 N/A N/A N/A 1.10 N/A</u></div>
<div><u>London 1.39 1.32 1.32 N/A 1.29 1.29 1.09 N/A</u></div>
<div><u>Hensall 1.45 N/A 1.40 N/A 1.35 N/A 1.10 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 1.45 N/A 1.40 N/A 1.35 N/A 1.10 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 1.45 N/A 1.40 N/A 1.35 N/A 1.10 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 1.23 1.42 1.42 N/A 1.30 1.11 1.35</u></div>
<div><u>Varna 1.40 1.45 1.40 N/A 1.30 1.35 1.10 N/A</u></div>
<div><u>Mitchell 1.45 1.55 1.40 N/A 1.35 1.30 1.10 N/A</u></div>
<div><u>Thornton N/A N/A N/A 1.18 N/A N/A N/A N/A</u></div>
<div><u>North Gower N/A 1.17 1.17 0.90 N/A 1.16 1.16 1.09</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 1.78 N/A N/A N/A 1.42 N/A</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Toledo FM N/A N/A 1.80 N/A N/A N/A 1.76 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 6.48US 8.28CA 6.28US 8.02CA</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 645.41</u></div>
<div><u>DDG's FOB Srn & Aylm 360.00 </u></div>
<div><u><br>
</u></div>
<div>---</div>
<div><br>
</div>
<div>Ontario Grain Market Commentary for February 3, 2021</div>
<div>By Todd Austin, Grain Farmers of Ontario
<div><br>
</div>
<div>Wednesday, February 3, 2021</div>
<div><br>
</div>
<div>COMMODITY PERIOD PRICE WEEKLY MOVEMENT</div>
<div>Corn CBOT Mar 5.52 ¡è 18 Cents</div>
<div>Soybeans CBOT Mar 13.71 ¨ù ¡é 3 ¨ö Cents</div>
<div>Wheat CBOT Mar 6.48 ¨ù ¡é 10 Cent</div>
<div>Wheat Minn. Mar 6.25 ¡é 7 ¨ú Cents</div>
<div>Wheat Kansas Mar 6.25 ¨ö ¡é 11 ¨ù Cents</div>
<div>Oats CBOT Mar 3.49 ¡é 3 ¨ö Cents</div>
<div></div>
<div>Canadian $ Mar 0.7829 ¡è 5 Points</div>
<div><br>
</div>
<div><br>
</div>
<div>CORN: </div>
<div>Mexico¡¯s corn imports could fall by 9 per cent, or 1.5 million tonnes, this year. The Mexican government is trying to boost local production while at the same time discouraging the use of genetically modified grains. The government is looking to substitute
30% of Mexico¡¯s current volume of imports with national production by the year 2024. Mexican corn farms are much smaller than U.S. or Canadian farms and yields are much lower as well.</div>
<div><br>
</div>
<div>SOYBEANS: </div>
<div>The U.S. Department of Agriculture has forecast Brazilian soybean production to be 133 million tonnes. Harvest has been slow thus far, with approximately 2 per cent harvested, versus 9 per cent last year at this time. There is also talk of a potential
strike by truck drivers, which would disrupt deliveries to ports. The vessel line-up to load soybeans out of Brazilian ports has increased to almost 9 million tonnes. Shipments that were scheduled for January have been pushed into February, and it is likely
that most of the February shipment will be pushed to March.</div>
<div><br>
</div>
<div>WHEAT:</div>
<div>Total wheat production in the EU and the UK is expected to reach 147 million tonnes for this marketing year. This would be an increase of 8% over the past year. France, the EU¡¯s largest wheat exporting country, is expected to produce 37 million tonnes
of wheat. U.S. milling of whole wheat flour is down 10% from 2019, according to the National Agricultural Statistics Service of the USDA. Whole wheat flour production has fallen for three consecutive years.</div>
<div><br>
</div>
</div>
<div>---</div>
<div><br>
</div>
<div>
<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>
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