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<u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Tue, December 28</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 1.2823 up 0.0025</u></div>
<div><u>Chicago corn closed moderately lower.</u></div>
<div><u><br>
</u></div>
<div><u> MAR22 HI 6.17 3/4 DEC22 HI 5.57</u></div>
<div><u> LOW 6.03 3/4 LOW 5.47 1/4</u></div>
<div><u> CLOSE6.04 3/4 Down 10 CLOSE 5.48 3/4 Down 8 1/4</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 +MAR22+MAR22+MAY22</u></div>
<div><u>CK Low 1.40 7.45 293.20 1.00 6.49 255.40</u></div>
<div><u>CK High 1.40 7.45 293.20 1.10 6.59 259.34</u></div>
<div><u>CK Avg 1.40 -0.24 7.45 293.20 1.09 -0.37 6.57 258.78</u></div>
<div><u>Essex Cty 1.40 7.45 293.20 1.10 6.59 259.34</u></div>
<div><u>Mdsx Low 1.40 7.45 293.20 1.05 6.54 257.37</u></div>
<div><u>Mdsx High 1.40 7.45 293.20 1.10 6.59 259.34</u></div>
<div><u>Mdsx Avg 1.40 -0.24 7.45 293.20 1.08 -0.37 6.57 258.68</u></div>
<div><u>Hensall 1.42 7.46 293.85 1.12 6.60 259.99</u></div>
<div><u>Bruce 1.35 7.40 291.23 1.05 6.54 257.37</u></div>
<div><u>Putnam 1.40 7.45 293.20 1.10 6.59 259.34</u></div>
<div><u>Burford 1.40 7.45 293.20 1.10 6.59 259.34</u></div>
<div><u>Port Perry 1.40 7.45 293.20 1.15 6.64 261.31</u></div>
<div><u>Norfolk 1.40 7.45 293.20 1.10 6.59 259.34</u></div>
<div><u>Palmerston 1.33 7.38 290.44 1.06 6.55 257.76</u></div>
<div><u>Varna 1.40 7.45 293.20 1.10 6.59 259.34</u></div>
<div><u>Belmore 1.40 7.45 293.20 1.10 6.59 259.34</u></div>
<div><u>Trenton 1.45 7.50 295.16 1.15 6.64 261.31</u></div>
<div><u>Winchester 1.45 7.50 295.16 1.10 6.59 259.34</u></div>
<div><u>North Gower 1.45 7.50 295.16 1.30 6.79 267.21</u></div>
<div><u>Vankleek Hil 1.62 7.67 301.86 1.34 6.83 268.79</u></div>
<div><u>Huron FOB 1.47 1.55 1.60 1.67 7.52 295.95N/A</u></div>
<div><u>Kent FOB 1.60 7.65 301.07 1.25 6.74 265.24</u></div>
<div><u>Lamb FOB 1.60 7.65 301.07 1.25 6.74 265.24</u></div>
<div><u>Mdsx FOB 1.50 1.60 1.65 1.70 7.55 297.13 1.20 6.69 263.28</u></div>
<div><u>FOB SW Que 2.12 8.17 321.54N/A</u></div>
<div><u>Track 1.97 8.02 315.64N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A N/A N/A 1.45 6.94 273.12</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A N/A 1.71 7.20 283.35</u></div>
<div><u>Aylmer-Eth N/A N/A N/A N/A N/A</u></div>
<div><u>Sarn-Eth N/A 1.50 1.55 1.55 N/A</u></div>
<div><u>London-Ing N/A N/A N/A N/A 1.45 6.94 273.12</u></div>
<div><u>Cardnl-Ing N/A N/A N/A N/A 1.65 7.14 280.99</u></div>
<div><u>W O Feed 1.96 8.01 315.40</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 2.03 8.08 318.00</u></div>
<div><u>Toledo El. -0.32 5.73 225.46 -0.32 5.17 203.40</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Pt. Colb 1.40 7.45 293.20 1.25 6.74 265.24</u></div>
<div><u>Prescott 2.14 8.19 322.33 1.79 7.28 286.50</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>HI SD CRN 1.40 7.44 3/4</u></div>
<div><u>*Wet Bid</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2823 up 0.0025</u></div>
<div><u>Chicago soybeans closed slightly lower.</u></div>
<div><u><br>
</u></div>
<div><u> JAN22 HI 13.75 3/4 NOV22 HI 12.83</u></div>
<div><u> LOW 13.54 LOW 12.67 3/4</u></div>
<div><u> CLOSE13.59 1/4 Down 3 1/4 CLOSE 12.72 1/4 Down 5</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 +JAN22+MAR22+MAR22</u></div>
<div><u>CK Low 3.40 16.99 624.37 2.83 15.55 571.46</u></div>
<div><u>CK High 3.45 17.04 626.20 2.90 15.62 574.03</u></div>
<div><u>CK Average 3.43 -0.32 17.02 625.47 2.85 -0.59 15.58 572.35</u></div>
<div><u>Essex Cty 3.45 17.04 626.20 2.85 15.57 572.19</u></div>
<div><u>Mdsx Low 3.45 17.04 626.20 2.85 15.57 572.19</u></div>
<div><u>Mdsx High 3.50 17.09 628.04 2.95 15.67 575.87</u></div>
<div><u>Mdsx Average3.47 -0.29 17.06 626.94 2.89 -0.56 15.61 573.66</u></div>
<div><u>Hensall 3.43 17.03 625.59 2.87 15.59 572.80</u></div>
<div><u>Bruce 3.40 16.99 624.37 2.90 15.62 574.03</u></div>
<div><u>Putnam 3.40 16.99 624.37 2.85 15.57 572.19</u></div>
<div><u>Burford 3.53 17.12 629.14 2.94 15.66 575.50</u></div>
<div><u>Port Perry 3.41 17.00 624.73 2.82 15.54 571.09</u></div>
<div><u>Norfolk 3.45 17.04 626.20 2.85 15.57 572.19</u></div>
<div><u>Palmerston 3.53 17.12 629.14 2.93 15.65 575.13</u></div>
<div><u>Varna 3.45 17.04 626.20 2.90 15.62 574.03</u></div>
<div><u>Trenton 3.45 17.04 626.20 2.95 15.67 575.87</u></div>
<div><u>Winchester 3.38 16.97 623.63 2.90 15.62 574.03</u></div>
<div><u>North Gower 3.20 16.79 617.02 3.00 15.72 577.70</u></div>
<div><u>Vankleek Hil3.38 16.97 623.63 3.13 15.85 582.48</u></div>
<div><u>Huron FOB 3.63 3.75 3.78 3.78 17.22 632.82 N/A</u></div>
<div><u>Kent FOB 3.65 17.24 633.55 2.85 15.57 572.19</u></div>
<div><u>Lambton FOB 3.45 17.04 626.20 2.95 15.67 575.87</u></div>
<div><u>Mdsx FOB 3.56 3.56 3.65 3.71 17.15 630.25 2.94 15.66 575.50</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Windsor 4.24 17.83 655.23 3.20 15.92 585.05</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton 3.95 17.54 644.58 3.25 15.97 586.89</u></div>
<div><u>Prescott N/A 3.52 16.24 596.81</u></div>
<div><u>Port Colborn3.78 17.37 638.33 3.35 16.07 590.56</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.26 13.34 490.02 -0.51 12.21 448.61</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2823 up 0.0025</u></div>
<div><u>Chicago wheat closed moderately lower to lower.</u></div>
<div><u>MAR22 HI 8.08 JUL22 HI 8.04</u></div>
<div><u> LOW 7.81 3/4 LOW 7.82 3/4</u></div>
<div><u> CLOSE 7.83 1/2 Down 20 1/2 CLOSE 7.83 3/4 Down 17</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed lower.</u></div>
<div><u>MAR22 HI 10.28 1/2 SEP22 HI 9.44 1/2</u></div>
<div><u> LOW 9.97 LOW 9.26</u></div>
<div><u> CLOSE 9.99 1/2 Down 25 CLOSE 9.29 Down 16 3/4</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Direct MarkHarvest 2021 Harvest 2022</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 1.30 N/A N/A N/A 1.70 N/A</u></div>
<div><u>London 1.17 1.56 1.11 N/A 1.75 1.75 1.62 N/A</u></div>
<div><u>Hensall 1.30 N/A 1.30 N/A 2.40 N/A 1.70 N/A</u></div>
<div><u>Trenton N/A N/A N/A N/A N/A N/A 1.75 N/A</u></div>
<div><u>Bruce 1.20 1.45 1.20 N/A 2.30 1.85 1.70 1.50</u></div>
<div><u>Essex N/A N/A 1.25 N/A N/A N/A 1.65 N/A</u></div>
<div><u>Norwich 1.30 N/A 1.30 N/A 2.40 N/A 1.70 N/A</u></div>
<div><u>Port Hope N/A N/A 1.30 N/A N/A N/A 1.70 N/A</u></div>
<div><u>Kent Bridge 1.30 N/A 1.30 N/A 2.40 N/A 1.70 N/A</u></div>
<div><u>Chatham N/A N/A 1.25 N/A N/A N/A 1.65 N/A</u></div>
<div><u>Brigden N/A N/A 1.25 N/A N/A N/A 1.65 N/A</u></div>
<div><u>Palmerston N/A N/A 1.12 1.93 N/A N/A 1.66 1.68</u></div>
<div><u>Varna 1.65 2.15 1.40 N/A 2.30 1.85 1.65 N/A</u></div>
<div><u>Mitchell 1.30 1.90 1.30 N/A 2.40 1.85 1.70 N/A</u></div>
<div><u>Thornton 1.17 1.56 1.10 1.38 1.75 1.75 1.62 N/A</u></div>
<div><u>North Gower N/A 1.05 1.45 1.17 N/A N/A 1.76 N/A</u></div>
<div><u>W O Feed 2.08</u></div>
<div><u><br>
</u></div>
<div><u>TERMINAL</u></div>
<div><u>Port Colbor N/A N/A 1.69 N/A N/A N/A 1.95 N/A</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Toledo FM N/A N/A 2.60 N/A N/A N/A 2.35 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 7.69US 9.85CA 7.79US 9.99CA</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 648.06</u></div>
<u><span>DDG's FOB Srn & Aylm 240.00</span><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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