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<u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, February 24</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 1.2531 down 0.0066</u></div>
<div><u>Chicago corn closed moderately higher.</u></div>
<div><u><br>
</u></div>
<div><u> MAR21 HI 5.60 3/4 DEC21 HI 4.77 1/2</u></div>
<div><u> LOW 5.52 LOW 4.68 3/4</u></div>
<div><u> CLOSE5.59 1/4 Up 5 1/2 CLOSE 4.76 3/4 Up 7</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 1.45 7.04 277.25 0.95 5.72 225.09</u></div>
<div><u>CK High 1.45 7.04 277.25 0.95 5.72 225.09</u></div>
<div><u>CK Avg 1.45 0.03 7.04 277.25 0.95 -0.21 5.72 225.09</u></div>
<div><u>Essex Cty 1.45 7.04 277.25 0.95 5.72 225.09</u></div>
<div><u>Mdsx Low 1.45 7.04 277.25 0.95 5.72 225.09</u></div>
<div><u>Mdsx High 1.45 7.04 277.25 0.95 5.72 225.09</u></div>
<div><u>Mdsx Avg 1.45 0.03 7.04 277.25 0.95 -0.21 5.72 225.09</u></div>
<div><u>Hensall 1.47 7.06 277.91 0.97 5.73 225.74</u></div>
<div><u>Bruce 1.45 7.04 277.25 0.95 5.72 225.09</u></div>
<div><u>Putnam 1.45 7.04 277.25 0.95 5.72 225.09</u></div>
<div><u>Burford 1.45 7.04 277.25 0.95 5.72 225.09</u></div>
<div><u>Port Perry 1.45 7.04 277.25 0.95 5.72 225.09</u></div>
<div><u>Norfolk 1.45 7.04 277.25 0.95 5.72 225.09</u></div>
<div><u>Palmerston 1.42 7.01 276.07 0.96 5.73 225.48</u></div>
<div><u>Varna 1.45 7.04 277.25 0.95 5.72 225.09</u></div>
<div><u>Trenton 1.50 7.09 279.22 0.95 5.72 225.09</u></div>
<div><u>Winchester 1.50 7.09 279.22 1.40 6.17 242.80</u></div>
<div><u>North Gower 1.52 7.11 280.01 1.37 6.14 241.62</u></div>
<div><u>Vankleek Hil 1.58 7.17 282.37 1.09 5.86 230.60</u></div>
<div><u>Huron FOB 1.50 1.61 1.66 1.82 7.09 279.22 1.06 5.83 229.42</u></div>
<div><u>Kent FOB 1.60 7.19 283.16 1.05 5.82 229.02</u></div>
<div><u>Lamb FOB N/A 1.10 5.87 230.99</u></div>
<div><u>Mdsx FOB 1.60 1.60N/A N/A 7.19 283.16 1.05 5.82 229.02</u></div>
<div><u>FOB SW Que 2.17 7.76 305.60N/A</u></div>
<div><u>Track 1.78 7.37 290.24N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A N/A N/A 1.29 6.06 238.47</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A N/A N/A</u></div>
<div><u>Aylmer-Eth N/A N/A N/A 1.95 1.25 6.02 236.90</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 2.10 1.35 6.12 240.84</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 2.30 1.60 6.37 250.68</u></div>
<div><u>W O Feed 1.95 7.54 296.94</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 2.04 7.63 300.48</u></div>
<div><u>Toledo El. -0.09 5.50 216.71 -0.25 4.52 177.82</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Pt. Colb 1.85 7.44 293.00 1.35 6.12 240.84</u></div>
<div><u>Prescott N/A 1.53 6.30 247.92</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>HI SD CRN 1.45 7.04 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 1.2531 down 0.0066</u></div>
<div><u>Chicago soybeans closed slightly to moderately higher.</u></div>
<div><u><br>
</u></div>
<div><u> MAR21 HI 14.26 1/2 NOV21 HI 12.40</u></div>
<div><u> LOW 14.06 3/4 LOW 12.20</u></div>
<div><u> CLOSE14.23 3/4 Up 17 3/4 CLOSE 12.38 1/4 Up 16 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+MAY21+MAY21</u></div>
<div><u>CK Low 3.33 17.57 645.50 2.80 15.18 557.86</u></div>
<div><u>CK High 3.37 17.61 646.96 2.85 15.23 559.70</u></div>
<div><u>CK Average 3.35 -0.20 17.59 646.35 2.83 -0.25 15.21 558.84</u></div>
<div><u>Essex Cty 3.35 17.59 646.23 2.75 15.13 556.02</u></div>
<div><u>Mdsx Low 3.31 17.55 644.76 2.79 15.17 557.49</u></div>
<div><u>Mdsx High 3.37 17.61 646.96 2.80 15.18 557.86</u></div>
<div><u>Mdsx Average3.34 -0.21 17.58 645.86 2.80 -0.27 15.18 557.68</u></div>
<div><u>Hensall 3.36 17.59 646.47 2.83 15.22 559.09</u></div>
<div><u>Bruce 3.35 17.59 646.23 2.85 15.23 559.70</u></div>
<div><u>Putnam 3.37 17.61 646.96 2.80 15.18 557.86</u></div>
<div><u>Burford 3.38 17.62 647.33 2.86 15.24 560.07</u></div>
<div><u>Port Perry 3.30 17.54 644.39 2.78 15.16 557.13</u></div>
<div><u>Norfolk 3.35 17.59 646.23 2.85 15.23 559.70</u></div>
<div><u>Palmerston 3.28 17.52 643.66 2.82 15.20 558.60</u></div>
<div><u>Varna 3.35 17.59 646.23 2.85 15.23 559.70</u></div>
<div><u>Trenton 3.30 17.54 644.39 2.75 15.13 556.02</u></div>
<div><u>Winchester 3.30 17.54 644.39 2.85 15.23 559.70</u></div>
<div><u>North Gower 3.25 17.49 642.56 2.85 15.23 559.70</u></div>
<div><u>Vankleek Hil3.14 17.38 638.51 2.71 15.09 554.55</u></div>
<div><u>Huron FOB 3.65 3.65 3.66 3.66 17.89 657.25 2.88 15.26 560.80</u></div>
<div><u>Kent FOB 3.50 17.74 651.74 2.85 15.23 559.70</u></div>
<div><u>Lambton FOB 3.55 17.79 653.58 3.05 15.43 567.05</u></div>
<div><u>Mdsx FOB 3.50 3.50 N/A N/A 17.74 651.74 2.87 15.25 560.43</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Windsor N/A 2.99 15.37 564.84</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton 3.90 18.14 666.44 3.30 15.68 576.23</u></div>
<div><u>Prescott N/A 3.21 15.59 572.93</u></div>
<div><u>Port Colborn3.72 17.96 659.83 3.28 15.66 575.50</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 0.03 14.26 524.06 -0.44 11.94 438.86</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2531 down 0.0066</u></div>
<div><u>Chicago wheat closed moderately higher to higher.</u></div>
<div><u>MAR21 HI 6.83 1/2 JUL21 HI 6.72 3/4</u></div>
<div><u> LOW 6.65 LOW 6.55</u></div>
<div><u> CLOSE 6.80 1/4 Up 14 1/2 CLOSE 6.70 1/2 Up 13 3/4</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed moderately higher.</u></div>
<div><u>MAR21 HI 6.48 SEP21 HI 6.72 1/2</u></div>
<div><u> LOW 6.33 3/4 LOW 6.63</u></div>
<div><u> CLOSE 6.46 1/2 Up 10 1/2 CLOSE 6.71 1/2 Up 8 1/4</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 1.40 1.33 1.33 N/A 1.25 1.25 1.00 N/A</u></div>
<div><u>Hensall 1.40 N/A 1.35 N/A 1.30 N/A 1.05 N/A</u></div>
<div><u>Trenton N/A N/A N/A N/A N/A N/A 1.05 N/A</u></div>
<div><u>Bruce 1.35 1.45 1.35 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 1.05 N/A</u></div>
<div><u>Norwich 1.40 N/A 1.35 N/A 1.30 N/A 1.05 N/A</u></div>
<div><u>Port Hope N/A N/A N/A N/A N/A N/A 1.05 N/A</u></div>
<div><u>Kent Bridge 1.40 N/A 1.35 N/A 1.30 N/A 1.05 N/A</u></div>
<div><u>Chatham N/A N/A 1.35 N/A N/A N/A 1.05 N/A</u></div>
<div><u>Brigden N/A N/A 1.35 N/A N/A N/A 1.05 N/A</u></div>
<div><u>Palmerston N/A 1.40 1.34 1.32 N/A 1.19 1.00 1.26</u></div>
<div><u>Varna 1.35 1.40 1.35 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 1.05 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 1.25 1.25 0.95 N/A 0.98 0.98 1.15</u></div>
<div><u>W O Feed 1.99</u></div>
<div><u><br>
</u></div>
<div><u>TERMINAL</u></div>
<div><u>Port Colbor N/A N/A 1.79 N/A N/A N/A 1.35 N/A</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Toledo FM N/A N/A 1.72 N/A N/A N/A 1.70 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 6.85US 8.59CA 6.66US 8.34CA</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 626.45</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 24, 2021</div>
<div>By Todd Austin, Grain Farmers of Ontario</div>
<div><br>
</div>
<div>
<div style="">Wednesday, February 24, 2021<br>
</div>
<div style="">COMMODITY PERIOD PRICE WEEKLY MOVEMENT</div>
<div style="">Corn CBOT Mar 5.59 ¨ù ¡è 6 ¨ù Cents</div>
<div style="">Soybeans CBOT Mar 13.83¨ú ¡è 40 Cents</div>
<div style="">Wheat CBOT Mar 6.80 ¨ù ¡è 36 ¨ù Cent</div>
<div style="">Wheat Minn. Mar 6.46 ¨ö ¡è 23 ¨ö Cents</div>
<div style="">Wheat Kansas Mar 6.56 ¡è 31 ¨ö Cents</div>
<div style="">Oats CBOT Mar 3.67 ¨ù ¡è 14 ¨ö Cents</div>
<div style=""></div>
<div style="">Canadian $ Mar 0.7979 ¡è 103 Points</div>
<div style=""><br>
</div>
<div style="">CORN: </div>
<div style="">The cold snap that affected much of the U.S. last week also caused ethanol plants to either slow production or shut down completely amid power outages and a spike in natural gas prices. According to the U.S. Department of Energy, ethanol production
output declined 28 per cent to 658,000 barrels a day. The Renewable Fuels Association estimates that some of their biofuel producing members dropped production by almost 60 per cent.</div>
<div style=""><br>
</div>
<div style="">SOYBEANS: </div>
<div style="">Brazil¡¯s soybean harvest pace continues to lag behind those in recent years. Currently, 15 per cent of the crop has been harvested compared to 31 per cent last year. Soybean futures have climbed to month-high levels as the trade focuses on the
lack of progress of the harvest in Brazil. A broad rally in the oilseeds market has helped to sustain buying interest in the soybean complex.</div>
<div style=""><br>
</div>
<div style="">WHEAT:</div>
<div style="">U.S. wheat crop condition ratings were a mixed bag for the month of February. In Kansas, (the top U.S. winter wheat producer) and Oklahoma, conditions declined while conditions improved for South Dakota, Colorado, and Montana. The current prices
reflect the aforementioned ratings. Globally, there has been renewed interest in the demand for U.S. wheat, in turn, aiding the rise of wheat futures in Chicago.
</div>
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<div style="">---</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>
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