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<u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, January 19</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 1.2498 down 0.0023</u></div>
<div><u>Chicago corn closed moderately higher.</u></div>
<div><u><br>
</u></div>
<div><u> MAR22 HI 6.14 1/2 DEC22 HI 5.65 3/4</u></div>
<div><u> LOW 6.00 LOW 5.56 3/4</u></div>
<div><u> CLOSE6.10 1/2 Up 11 CLOSE 5.64 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 +MAR22+MAY22+MAY22</u></div>
<div><u>CK Low 1.25 7.36 289.55 1.00 6.65 261.70</u></div>
<div><u>CK High 1.40 7.51 295.46 1.10 6.75 265.64</u></div>
<div><u>CK Avg 1.27 -0.20 7.38 290.40 1.04 -0.30 6.69 263.39</u></div>
<div><u>Essex Cty 1.25 7.36 289.55 1.00 6.65 261.70</u></div>
<div><u>Mdsx Low 1.25 7.36 289.55 1.00 6.65 261.70</u></div>
<div><u>Mdsx High 1.30 7.41 291.52 1.05 6.70 263.67</u></div>
<div><u>Mdsx Avg 1.27 -0.21 7.37 290.21 1.03 -0.31 6.68 263.01</u></div>
<div><u>Hensall 1.27 7.37 290.21 1.07 6.71 264.33</u></div>
<div><u>Bruce 1.20 7.31 287.59 1.05 6.70 263.67</u></div>
<div><u>Putnam 1.25 7.36 289.55 1.05 6.70 263.67</u></div>
<div><u>Burford 1.25 7.36 289.55 1.05 6.70 263.67</u></div>
<div><u>Port Perry 1.25 7.36 289.55 1.10 6.75 265.64</u></div>
<div><u>Norfolk 1.25 7.36 289.55 1.00 6.65 261.70</u></div>
<div><u>Palmerston 1.27 7.38 290.34 1.05 6.70 263.67</u></div>
<div><u>Varna 1.30 7.41 291.52 1.05 6.70 263.67</u></div>
<div><u>Belmore 1.25 7.36 289.55 1.05 6.70 263.67</u></div>
<div><u>Trenton 1.35 7.46 293.49 1.10 6.75 265.64</u></div>
<div><u>Winchester 1.45 7.56 297.43 1.10 6.75 265.64</u></div>
<div><u>North Gower 1.40 7.51 295.46 1.20 6.85 269.57</u></div>
<div><u>Vankleek Hil 1.38 7.49 294.67 1.28 6.93 272.72</u></div>
<div><u>Huron FOB 1.33 1.37 1.42 1.48 7.44 292.70N/A</u></div>
<div><u>Kent FOB 1.40 7.51 295.46 1.10 6.75 265.64</u></div>
<div><u>Lamb FOB 1.45 7.56 297.43 1.15 6.80 267.61</u></div>
<div><u>Mdsx FOB N/A N/A N/A 1.45 1.10 6.75 265.64</u></div>
<div><u>FOB SW Que 2.31 8.42 331.28N/A</u></div>
<div><u>Track 1.72 7.82 307.86N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A N/A N/A 1.28 6.93 272.72</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A N/A 1.66 7.31 287.68</u></div>
<div><u>Aylmer-Eth N/A N/A N/A N/A N/A</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 1.40 7.05 277.45</u></div>
<div><u>Cardnl-Ing N/A N/A N/A N/A 1.60 7.25 285.32</u></div>
<div><u>W O Feed 1.77 7.88 310.03</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.84 7.95 312.78</u></div>
<div><u>Toledo El. -0.26 5.84 230.01 -0.31 5.33 210.02</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Pt. Colb N/A 1.15 6.80 267.61</u></div>
<div><u>Prescott 1.82 7.93 311.99 1.59 7.24 284.93</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>HI SD CRN 1.40 7.50 1/2</u></div>
<div><u>*Wet Bid</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2498 down 0.0023</u></div>
<div><u>Chicago soybeans closed moderately higher.</u></div>
<div><u><br>
</u></div>
<div><u> MAR22 HI 13.92 1/2 NOV22 HI 13.05 1/2</u></div>
<div><u> LOW 13.63 1/2 LOW 12.85</u></div>
<div><u> CLOSE13.91 1/4 Up 30 CLOSE 13.04 1/2 Up 20 1/2</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 +MAR22+MAR22+MAY22</u></div>
<div><u>CK Low 3.00 16.91 621.43 2.50 15.55 571.18</u></div>
<div><u>CK High 3.10 17.01 625.10 2.60 15.65 574.86</u></div>
<div><u>CK Average 3.02 -0.36 16.93 622.16 2.52 -0.60 15.57 572.07</u></div>
<div><u>Essex Cty 3.00 16.91 621.43 2.50 15.55 571.18</u></div>
<div><u>Mdsx Low 3.00 16.91 621.43 2.50 15.55 571.18</u></div>
<div><u>Mdsx High 3.05 16.96 623.27 2.55 15.60 573.02</u></div>
<div><u>Mdsx Average3.03 -0.36 16.94 622.41 2.52 -0.60 15.57 571.92</u></div>
<div><u>Hensall 3.00 16.91 621.43 2.50 15.55 571.18</u></div>
<div><u>Bruce 3.00 16.91 621.43 2.50 15.55 571.18</u></div>
<div><u>Putnam 3.00 16.91 621.43 2.50 15.55 571.18</u></div>
<div><u>Burford 3.10 17.01 625.10 2.58 15.63 574.12</u></div>
<div><u>Port Perry 2.99 16.90 621.06 2.47 15.52 570.08</u></div>
<div><u>Norfolk 3.00 16.91 621.43 2.50 15.55 571.18</u></div>
<div><u>Palmerston 3.09 17.00 624.73 2.60 15.65 574.86</u></div>
<div><u>Varna 3.05 16.96 623.27 2.55 15.60 573.02</u></div>
<div><u>Trenton 3.00 16.91 621.43 2.55 15.60 573.02</u></div>
<div><u>Winchester 3.09 17.00 624.73 2.61 15.66 575.22</u></div>
<div><u>North Gower 3.10 17.01 625.10 2.80 15.85 582.20</u></div>
<div><u>Vankleek Hil N/A 2.76 15.81 580.73</u></div>
<div><u>Huron FOB 3.16 3.28 3.32 3.43 17.07 627.31 N/A</u></div>
<div><u>Kent FOB 3.20 17.11 628.78 2.50 15.55 571.18</u></div>
<div><u>Lambton FOB 3.25 17.16 630.61 2.65 15.70 576.69</u></div>
<div><u>Mdsx FOB 3.29 3.29 3.34 3.28 17.20 632.08 2.63 15.68 575.96</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Windsor 3.70 17.61 647.15 2.86 15.91 584.41</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton 3.45 17.36 637.96 2.90 15.95 585.88</u></div>
<div><u>Prescott N/A 3.11 16.16 593.59</u></div>
<div><u>Port Colborn3.45 17.36 637.96 3.05 16.10 591.39</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.25 13.66 502.01 -0.50 12.54 460.93</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2498 down 0.0023</u></div>
<div><u>Chicago wheat closed higher.</u></div>
<div><u>MAR22 HI 7.97 1/4 JUL22 HI 7.88 1/4</u></div>
<div><u> LOW 7.69 1/2 LOW 7.59 3/4</u></div>
<div><u> CLOSE 7.96 1/2 Up 27 1/2 CLOSE 7.87 1/4 Up 27 3/4</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed higher to sharply higher.</u></div>
<div><u>MAR22 HI 9.41 1/4 SEP22 HI 8.98</u></div>
<div><u> LOW 9.07 LOW 8.70</u></div>
<div><u> CLOSE 9.39 3/4 Up 32 3/4 CLOSE 8.96 3/4 Up 27</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 1.10 N/A N/A N/A 1.35 N/A</u></div>
<div><u>London 1.18 1.43 0.99 N/A 1.72 1.66 1.41 N/A</u></div>
<div><u>Hensall 1.10 N/A 1.10 N/A 2.20 N/A 1.35 N/A</u></div>
<div><u>Trenton N/A N/A N/A N/A N/A N/A 1.40 N/A</u></div>
<div><u>Bruce 1.00 1.45 1.00 N/A 2.10 1.60 1.40 1.50</u></div>
<div><u>Essex N/A N/A 1.00 N/A N/A N/A 1.30 N/A</u></div>
<div><u>Norwich 1.10 N/A 1.10 N/A 2.20 N/A 1.35 N/A</u></div>
<div><u>Port Hope N/A N/A 1.15 N/A N/A N/A 1.40 N/A</u></div>
<div><u>Kent Bridge 1.10 N/A 1.10 N/A 2.20 N/A 1.35 N/A</u></div>
<div><u>Chatham N/A N/A 1.00 N/A N/A N/A 1.30 N/A</u></div>
<div><u>Brigden N/A N/A 1.00 N/A N/A N/A 1.30 N/A</u></div>
<div><u>Palmerston N/A 1.98 1.17 1.70 N/A N/A 1.52 1.49</u></div>
<div><u>Varna 1.35 1.85 1.10 N/A 2.05 1.60 1.40 N/A</u></div>
<div><u>Mitchell 1.10 1.70 1.10 N/A 2.20 1.65 1.35 N/A</u></div>
<div><u>Thornton 1.18 1.43 0.99 1.81 1.72 1.66 1.47 N/A</u></div>
<div><u>North Gower N/A 0.90 1.30 1.07 N/A N/A 1.40 N/A</u></div>
<div><u>W O Feed 1.94</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 1.79 N/A</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Toledo FM N/A N/A 2.36 N/A N/A N/A 2.10 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 7.82US 9.77CA 7.82US 9.79CA</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 595.59</u></div>
<u><span>DDG's FOB Srn & Aylm 300.00 - 310.00</span><br>
</u></div>
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<p style="margin-top:0px; margin-bottom:0px"><span style="font-family: "Courier New"; font-size: 10pt;">Blair Andrews</span><o:p style="color: inherit; font-family: "Courier New"; font-size: 10pt; font-style: inherit; font-variant-ligatures: inherit; font-variant-caps: inherit; font-weight: inherit;"> </o:p><br>
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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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