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<u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, March 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 1.256 down 0.0002</u></div>
<div><u>Chicago corn closed mixed.</u></div>
<div><u><br>
</u></div>
<div><u> MAY21 HI 5.53 3/4 DEC21 HI 4.70 1/2</u></div>
<div><u> LOW 5.48 1/4 LOW 4.66 1/2</u></div>
<div><u> CLOSE5.53 1/4 Up 2 CLOSE 4.69 Down 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 +MAY21+JUL21+JUL21</u></div>
<div><u>CK Low 1.40 6.93 272.92 0.90 5.59 220.07</u></div>
<div><u>CK High 1.40 6.93 272.92 0.95 5.64 222.04</u></div>
<div><u>CK Avg 1.40 -0.01 6.93 272.92 0.91 -0.23 5.60 220.40</u></div>
<div><u>Essex Cty 1.40 6.93 272.92 0.90 5.59 220.07</u></div>
<div><u>Mdsx Low 1.40 6.93 272.92 0.90 5.59 220.07</u></div>
<div><u>Mdsx High 1.40 6.93 272.92 0.90 5.59 220.07</u></div>
<div><u>Mdsx Avg 1.40 -0.01 6.93 272.92 0.90 -0.24 5.59 220.07</u></div>
<div><u>Hensall 1.42 6.95 273.58 0.93 5.62 221.38</u></div>
<div><u>Bruce 1.40 6.93 272.92 0.90 5.59 220.07</u></div>
<div><u>Putnam 1.40 6.93 272.92 0.90 5.59 220.07</u></div>
<div><u>Burford 1.40 6.93 272.92 0.90 5.59 220.07</u></div>
<div><u>Port Perry 1.45 6.98 274.89 0.90 5.59 220.07</u></div>
<div><u>Norfolk 1.40 6.93 272.92 0.90 5.59 220.07</u></div>
<div><u>Palmerston 1.47 7.00 275.68 0.94 5.63 221.64</u></div>
<div><u>Varna 1.40 6.93 272.92 0.90 5.59 220.07</u></div>
<div><u>Trenton 1.45 6.98 274.89 0.90 5.59 220.07</u></div>
<div><u>Winchester 1.40 6.93 272.92 1.40 6.09 239.75</u></div>
<div><u>North Gower 1.42 6.95 273.71 1.35 6.04 237.78</u></div>
<div><u>Vankleek Hil 1.51 7.04 277.25 0.93 5.62 221.25</u></div>
<div><u>Huron FOB 1.45 1.52 1.82 1.86 6.98 274.89 0.90 5.59 220.07</u></div>
<div><u>Kent FOB 1.52 7.05 277.64 1.02 5.71 224.79</u></div>
<div><u>Lamb FOB N/A 1.05 5.74 225.97</u></div>
<div><u>Mdsx FOB 1.50 1.60N/A N/A 7.03 276.86 1.05 5.74 225.97</u></div>
<div><u>FOB SW Que 2.51 8.04 316.62N/A</u></div>
<div><u>Track 1.75 7.28 286.50N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A N/A N/A 1.25 5.94 233.85</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 1.95N/A 1.25 5.94 233.85</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 5.99 235.82</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 1.55 6.24 245.66</u></div>
<div><u>W O Feed 1.96 7.49 294.81</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 2.04 7.57 298.12</u></div>
<div><u>Toledo El. 0.00 5.53 217.80 -0.25 4.44 174.75</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Pt. Colb 1.80 7.33 288.67 1.35 6.04 237.78</u></div>
<div><u>Prescott 1.98 7.51 295.75 1.53 6.22 244.87</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>HI SD CRN 1.40 6.93 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 1.256 down 0.0002</u></div>
<div><u>Chicago soybeans closed slightly higher.</u></div>
<div><u><br>
</u></div>
<div><u> MAY21 HI 14.33 1/2 NOV21 HI 12.33 3/4</u></div>
<div><u> LOW 14.18 1/4 LOW 12.20</u></div>
<div><u> CLOSE14.32 3/4 Up 9 1/2 CLOSE 12.28 1/4 Up 4 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 +MAY21+MAY21+JUL21</u></div>
<div><u>CK Low 3.55 17.88 656.89 2.80 15.08 554.19</u></div>
<div><u>CK High 3.60 17.93 658.72 2.83 15.11 555.29</u></div>
<div><u>CK Average 3.58 -0.07 17.90 657.80 2.81 -0.27 15.09 554.37</u></div>
<div><u>Essex Cty 3.55 17.88 656.89 2.75 15.03 552.35</u></div>
<div><u>Mdsx Low 3.58 17.91 657.99 2.80 15.08 554.19</u></div>
<div><u>Mdsx High 3.60 17.93 658.72 2.81 15.09 554.55</u></div>
<div><u>Mdsx Average3.59 -0.06 17.92 658.36 2.81 -0.27 15.09 554.37</u></div>
<div><u>Hensall 3.60 17.93 658.72 2.80 15.08 554.19</u></div>
<div><u>Bruce 3.60 17.93 658.72 2.80 15.08 554.19</u></div>
<div><u>Putnam 3.60 17.93 658.72 2.80 15.08 554.19</u></div>
<div><u>Burford 3.65 17.98 660.56 2.88 15.16 557.13</u></div>
<div><u>Port Perry 3.57 17.90 657.62 2.80 15.08 554.19</u></div>
<div><u>Norfolk 3.55 17.88 656.89 2.80 15.08 554.19</u></div>
<div><u>Palmerston 3.53 17.86 656.15 2.82 15.10 554.92</u></div>
<div><u>Varna 3.60 17.93 658.72 2.80 15.08 554.19</u></div>
<div><u>Trenton 3.60 17.93 658.72 2.80 15.08 554.19</u></div>
<div><u>Winchester 3.31 17.64 648.07 2.65 14.93 548.68</u></div>
<div><u>North Gower 3.15 17.48 642.19 2.60 14.88 546.84</u></div>
<div><u>Vankleek Hil3.30 17.63 647.70 2.69 14.97 550.15</u></div>
<div><u>Huron FOB 3.70 3.85 3.79 3.82 18.03 662.40 2.85 15.13 556.02</u></div>
<div><u>Kent FOB 3.65 17.98 660.56 2.80 15.08 554.19</u></div>
<div><u>Lambton FOB 3.65 17.98 660.56 2.95 15.23 559.70</u></div>
<div><u>Mdsx FOB 3.77 3.77 N/A N/A 18.10 664.97 3.03 15.31 562.64</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Windsor 3.96 18.29 671.95 2.99 15.27 561.17</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton 4.05 18.38 675.26 3.25 15.53 570.72</u></div>
<div><u>Prescott N/A 3.09 15.37 564.84</u></div>
<div><u>Port Colborn3.74 18.07 663.87 3.35 15.63 574.40</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 0.19 14.52 533.37 -0.44 11.84 435.15</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.256 down 0.0002</u></div>
<div><u>Chicago wheat closed slightly to moderately lower.</u></div>
<div><u>MAY21 HI 6.38 3/4 JUL21 HI 6.30</u></div>
<div><u> LOW 6.24 LOW 6.17 1/2</u></div>
<div><u> CLOSE 6.24 3/4 Down 10 CLOSE 6.18 3/4 Down 7 1/2</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly lower.</u></div>
<div><u>MAY21 HI 6.31 SEP21 HI 6.46</u></div>
<div><u> LOW 6.22 LOW 6.39</u></div>
<div><u> CLOSE 6.27 Down 3 1/4 CLOSE 6.42 3/4 Down 3 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 1.25 N/A N/A N/A 0.95 N/A</u></div>
<div><u>London 1.30 1.30 1.30 N/A 1.21 1.21 1.02 N/A</u></div>
<div><u>Hensall N/A N/A N/A N/A 1.20 N/A 0.95 N/A</u></div>
<div><u>Trenton N/A N/A N/A N/A N/A N/A 0.95 N/A</u></div>
<div><u>Bruce 1.25 1.25 1.25 1.45 1.20 1.15 1.00 1.30</u></div>
<div><u>Essex N/A N/A 1.25 N/A N/A N/A 0.95 N/A</u></div>
<div><u>Norwich N/A N/A N/A N/A 1.20 N/A 0.95 N/A</u></div>
<div><u>Port Hope N/A N/A N/A N/A N/A N/A 0.95 N/A</u></div>
<div><u>Kent Bridge N/A N/A N/A N/A 1.20 N/A 0.95 N/A</u></div>
<div><u>Chatham N/A N/A 1.25 N/A N/A N/A 0.95 N/A</u></div>
<div><u>Brigden N/A N/A 1.25 N/A N/A N/A 0.95 N/A</u></div>
<div><u>Palmerston N/A N/A 1.22 1.22 N/A 1.14 0.95 1.20</u></div>
<div><u>Varna 1.30 1.35 1.30 N/A 1.15 1.15 0.95 N/A</u></div>
<div><u>Mitchell N/A N/A N/A N/A 1.20 1.15 0.95 N/A</u></div>
<div><u>Thornton 1.30 1.30 1.30 0.77 1.21 1.21 1.02 N/A</u></div>
<div><u>North Gower N/A 1.20 1.20 0.85 N/A 0.92 0.92 0.90</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 1.75 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 1.60 N/A N/A N/A 1.58 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 6.25US 7.85CA 6.14US 7.71CA</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 579.83</u></div>
<div><u>DDG's FOB Srn & Aylm 310.00 - 340.00</u></div>
</div>
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Ontario Grain Market Commentary for March 24, 2021</div>
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By Todd Austin, Grain Farmers of Ontario</div>
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<br>
</div>
<div style="font-family: "Courier New", monospace; font-size: 10pt; color: rgb(0, 0, 0);">
<div>Wednesday, March 24, 2021</div>
<div>COMMODITY PERIOD PRICE WEEKLY MOVEMENT</div>
<div>Corn CBOT May 5.53 ¨ù ¡é 4 ¨ú Cents</div>
<div>Soybeans CBOT May 14.32 ¨ú ¡è 15 Cents</div>
<div>Wheat CBOT May 6.24 ¨ú ¡é 15 ¨ù Cent</div>
<div>Wheat Minn. May 6.27 ¡é 6 ¨ù Cents</div>
<div>Wheat Kansas May 5.76 ¨ù ¡é 24 ¨ú Cents</div>
<div>Oats CBOT May 3.81 ¨ö ¡è 10 Cents</div>
<div></div>
<div>Canadian $ May .7962 ¡é 95 Points</div>
<div><br>
</div>
<div>CORN: </div>
<div>The Brazilian Safrinha corn is 90% planted as recent drier weather allowed for an increased planting pace. Planting increased 16% from the previous week. As mentioned in previous reports, much of the Safrinha crop has been planted past the ideal planting
window. Strong local corn prices signify more promising returns to Brazilian farmers, despite potentially smaller yields.</div>
<div>South Africa is anticipating a record corn crop. The 2020 -2021 marketing year corn is forecast to be 16.45 million tonnes. Exports are expected to increase 40% to 3.5 million tonnes.</div>
<div><br>
</div>
<div>SOYBEANS:</div>
<div>Brazilian soybeans are 59% harvested, versus 72% last year. As Brazil struggles to harvest crops, China continues to buy U.S. soybeans. This increased demand for U.S. soybeans is putting pressure on an already tight U.S. supply which has led to soybean
futures hitting levels that we have not seen since 2014.</div>
<div>Chinese imports for January and February of this year are actually down slightly from this time last year. This year China imported 13.41 million tonnes, while 13.51 million tonnes were imported last year during the same period.</div>
<div><br>
</div>
<div>WHEAT:</div>
<div>Recent storms have brought much needed moisture to the U.S. southern Plains which have led to improved winter wheat conditions in many winter wheat states. The USDA raised the good-to-excellent rating for Kansas to 45% up from 38% a week ago. 21% of the
Kansas crop is poor-to-very poor.</div>
<div>The Ukrainian state weather centre data indicated that 98% of the winter wheat is in good condition. Favourable weather could result in a wheat crop of 75 million tonnes this year, up from 66 million tonnes last year. Exports could reach 53 million tonnes
in the 2021-2022 season.</div>
<div><br>
</div>
<div>---</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>
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