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<u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, May 25</u></div>
<div style="font-family: "Courier New", monospace; font-size: 10pt; color: rgb(0, 0, 0);" class="elementToProof">
<div><u>(All Bases in CAD)</u></div>
<div><u>Exchange rate was 1.2819 down 0.0007</u></div>
<div><u>Chicago corn closed narrowly mixed.</u></div>
<div><u><br>
</u></div>
<div><u> JUL22 HI 7.73 DEC22 HI 7.26</u></div>
<div><u> LOW 7.55 LOW 7.07</u></div>
<div><u> CLOSE7.72 1/4 Up 1/2 CLOSE 7.23 1/4 Down 2</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 +JUL22+JUL22+JUL22</u></div>
<div><u>CK Low 1.60 9.32 367.01 1.50 8.73 343.78</u></div>
<div><u>CK High 1.70 9.42 370.95 1.50 8.73 343.78</u></div>
<div><u>CK Avg 1.67 -0.39 9.39 369.82 1.50 -0.42 8.73 343.78</u></div>
<div><u>Essex Cty 1.70 9.42 370.95 1.50 8.73 343.78</u></div>
<div><u>Mdsx Low 1.60 9.32 367.01 1.50 8.73 343.78</u></div>
<div><u>Mdsx High 1.70 9.42 370.95 1.50 8.73 343.78</u></div>
<div><u>Mdsx Avg 1.65 -0.41 9.37 368.98 1.50 -0.42 8.73 343.78</u></div>
<div><u>Hensall 1.68 9.41 370.29 1.52 8.75 344.44</u></div>
<div><u>Bruce 1.70 9.42 370.95 1.50 8.73 343.78</u></div>
<div><u>Putnam 1.70 9.42 370.95 1.50 8.73 343.78</u></div>
<div><u>Burford 1.60 9.32 367.01 1.50 8.73 343.78</u></div>
<div><u>Port Perry 1.40 9.12 359.14 1.30 8.53 335.91</u></div>
<div><u>Norfolk 1.70 9.42 370.95 1.50 8.73 343.78</u></div>
<div><u>Palmerston 1.66 9.38 369.37 1.46 8.69 342.21</u></div>
<div><u>Varna 1.65 9.37 368.98 1.50 8.73 343.78</u></div>
<div><u>Belmore 1.65 9.37 368.98 1.50 8.73 343.78</u></div>
<div><u>Trenton 1.55 9.27 365.04 1.45 8.68 341.81</u></div>
<div><u>Winchester 2.00 9.72 382.76 1.80 9.03 355.59</u></div>
<div><u>North Gower 2.00 9.72 382.76 1.80 9.03 355.59</u></div>
<div><u>Vankleek Hil 2.18 9.90 389.84 1.54 8.77 345.36</u></div>
<div><u>Huron FOB 1.65 1.70 1.69 1.74 9.37 368.98 1.50 8.73 343.78</u></div>
<div><u>Kent FOB 1.80 9.52 374.88 1.55 8.78 345.75</u></div>
<div><u>Lamb FOB 1.80 9.52 374.88 1.61 8.84 348.11</u></div>
<div><u>Mdsx FOB 1.45 1.50 1.60N/A 9.17 361.11 1.55 8.78 345.75</u></div>
<div><u>FOB SW Que 3.00 10.72 422.13N/A</u></div>
<div><u>Track 2.14 9.86 388.27N/A</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Chat-Eth N/A N/A N/A N/A 1.86 9.09 357.96</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A N/A 2.23 9.46 372.52</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 1.95 9.18 361.50</u></div>
<div><u>Cardnl-Ing N/A N/A N/A N/A 2.25 9.48 373.31</u></div>
<div><u>W O Feed 2.19 9.91 390.24</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 2.36 10.08 396.93</u></div>
<div><u>Toledo El. -0.32 7.40 291.40 -0.32 6.91 272.11</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Pt. Colb N/A 1.55 8.78 345.75</u></div>
<div><u>Prescott 2.56 10.28 404.80 2.17 9.40 370.16</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>HI SD CRN 1.50 8.73 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 1.2819 down 0.0007</u></div>
<div><u>Chicago soybeans closed mixed.</u></div>
<div><u><br>
</u></div>
<div><u> JUL22 HI 16.97 3/4 NOV22 HI 15.24</u></div>
<div><u> LOW 16.65 1/2 LOW 14.95 1/4</u></div>
<div><u> CLOSE16.81 Down 12 CLOSE 15.12 3/4 Down 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 +JUL22+JUL22+SEP22</u></div>
<div><u>CK Low 4.70 21.51 790.36 3.73 18.86 692.89</u></div>
<div><u>CK High 4.80 21.61 794.03 3.75 18.88 693.63</u></div>
<div><u>CK Average 4.79 0.04 21.60 793.51 3.75 -0.40 18.87 693.52</u></div>
<div><u>Essex Cty 4.80 21.61 794.03 3.75 18.88 693.63</u></div>
<div><u>Mdsx Low 4.75 21.56 792.19 3.70 18.83 691.79</u></div>
<div><u>Mdsx High 4.82 21.63 794.77 3.75 18.88 693.63</u></div>
<div><u>Mdsx Average4.79 0.04 21.60 793.66 3.73 -0.41 18.86 693.02</u></div>
<div><u>Hensall 4.80 21.61 794.03 3.73 18.86 693.02</u></div>
<div><u>Bruce 4.70 21.51 790.36 3.70 18.83 691.79</u></div>
<div><u>Putnam 4.80 21.61 794.03 3.80 18.93 695.47</u></div>
<div><u>Burford 4.88 21.69 796.97 3.81 18.94 695.83</u></div>
<div><u>Port Perry 4.73 21.54 791.46 3.66 18.79 690.32</u></div>
<div><u>Norfolk 4.80 21.61 794.03 3.80 18.93 695.47</u></div>
<div><u>Palmerston 4.75 21.56 792.19 3.77 18.90 694.36</u></div>
<div><u>Varna 4.80 21.61 794.03 3.70 18.83 691.79</u></div>
<div><u>Trenton 4.50 21.31 783.01 3.75 18.88 693.63</u></div>
<div><u>Winchester 4.50 21.31 783.01 3.77 18.90 694.36</u></div>
<div><u>North Gower 4.70 21.51 790.36 3.70 18.83 691.79</u></div>
<div><u>Vankleek Hil4.73 21.54 791.46 3.55 18.68 686.28</u></div>
<div><u>Huron FOB 4.87 4.92 4.98 4.99 21.68 796.60 3.73 18.86 692.89</u></div>
<div><u>Kent FOB 5.00 21.81 801.38 3.75 18.88 693.63</u></div>
<div><u>Lambton FOB 4.90 21.71 797.71 N/A</u></div>
<div><u>Mdsx FOB 4.99 5.05 5.11 N/A 21.80 801.01 3.92 19.05 699.88</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Windsor 5.59 22.40 823.06 4.08 19.21 705.75</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER</u></div>
<div><u>Hamilton 5.45 22.26 817.91 4.40 19.53 717.51</u></div>
<div><u>Prescott N/A 4.18 19.31 709.43</u></div>
<div><u>Port Colborn N/A 4.05 19.18 704.65</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 0.19 17.00 624.73 -0.45 14.68 539.36</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.2819 down 0.0007</u></div>
<div><u>Chicago wheat closed slightly to moderately lower.</u></div>
<div><u>JUL22 HI 11.58 1/2 SEP22 HI 11.66 1/4</u></div>
<div><u> LOW 11.14 1/2 LOW 11.23 1/4</u></div>
<div><u> CLOSE 11.48 1/4 Down 6 1/2 CLOSE 11.56 3/4 Down 6 1/2</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly higher.</u></div>
<div><u>JUL22 HI 12.84 3/4 SEP22 HI 12.84 3/4</u></div>
<div><u> LOW 12.39 1/4 LOW 12.37 3/4</u></div>
<div><u> CLOSE 12.80 1/2 Up 3 1/4 CLOSE 12.80 1/2 Up 3 1/2</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 N/A N/A N/A N/A 2.35 N/A</u></div>
<div><u>London 2.38 2.44 1.99 N/A 2.94 2.49 2.10 N/A</u></div>
<div><u>Hensall 2.35 N/A 2.25 N/A 3.35 N/A 2.35 N/A</u></div>
<div><u>Trenton N/A N/A N/A N/A N/A N/A 2.35 N/A</u></div>
<div><u>Bruce N/A N/A 2.20 N/A 3.25 2.65 2.35 1.60</u></div>
<div><u>Essex N/A N/A 2.15 N/A N/A N/A 2.30 N/A</u></div>
<div><u>Norwich 2.35 N/A 2.25 N/A 3.35 N/A 2.35 N/A</u></div>
<div><u>Port Hope N/A N/A N/A N/A N/A N/A 2.45 N/A</u></div>
<div><u>Kent Bridge 2.35 N/A 2.25 N/A 3.35 N/A 2.35 N/A</u></div>
<div><u>Chatham N/A N/A 2.15 N/A N/A N/A 2.30 N/A</u></div>
<div><u>Brigden N/A N/A 2.15 N/A N/A N/A 2.30 N/A</u></div>
<div><u>Palmerston N/A 2.47 2.02 2.84 N/A 3.01 2.43 N/A</u></div>
<div><u>Varna 2.45 2.95 2.20 N/A 3.25 2.70 2.35 N/A</u></div>
<div><u>Mitchell 2.35 2.80 2.25 N/A 3.35 2.65 2.35 N/A</u></div>
<div><u>Thornton 2.38 2.44 1.99 1.96 2.94 2.49 2.10 N/A</u></div>
<div><u>North Gower N/A N/A N/A N/A N/A N/A 2.25 N/A</u></div>
<div><u>W O Feed 2.87</u></div>
<div><u><br>
</u></div>
<div><u>TERMINAL</u></div>
<div><u>Port Colbor N/A N/A 2.45 N/A N/A N/A 2.50 N/A</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS</u></div>
<div><u>Toledo FM N/A N/A 3.35 N/A N/A N/A 3.26 N/A</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 11.33US 14.53CA 11.33US 14.52CA</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 666.03</u></div>
<div><u>DDG's FOB Srn & Aylm 375.00 - 385.00</u></div>
<div><u><br>
</u></div>
<div><br>
</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: 10pt; font-family: "Courier New";">Blair Andrews<o:p style=""> </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>
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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>
<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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