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<u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, February 1</u></div>
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<div class="ContentPasted0"><u>(All Bases in CAD)</u></div>
<div class="ContentPasted0"><u>Exchange rate was 1.3317 up 0.0015</u></div>
<div class="ContentPasted0"><u>Chicago corn closed slightly higher.</u></div>
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<div class="ContentPasted0"><u>      MAR23   HI 6.82                         DEC23    HI 5.96  3/4</u></div>
<div class="ContentPasted0"><u>             LOW 6.72  3/4                            LOW 5.89  1/4</u></div>
<div class="ContentPasted0"><u>            CLOSE6.81   Up 1 1/4                    CLOSE 5.96  1/4  Up 5 1/2</u></div>
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<div class="ContentPasted0"><u>            OLD CROP BASIS                          NEW CROP BASIS</u></div>
<div class="ContentPasted0"><u>Location    Spot   1mt   2mt   3mt U.S. $/bu   $/mt Cntrct U.S.   $/bu   $/mt</u></div>
<div class="ContentPasted0"><u>ELEVATORS        +MAY23+MAY23+JUL23</u></div>
<div class="ContentPasted0"><u>CK Low       1.30                        8.11 319.28  1.25         7.21 283.94</u></div>
<div class="ContentPasted0"><u>CK High      1.40                        8.21 323.21  1.30         7.26 285.91</u></div>
<div class="ContentPasted0"><u>CK Avg       1.39                  -0.66 8.20 322.65  1.29 -0.51   7.26 285.63</u></div>
<div class="ContentPasted0"><u>Essex Cty    1.30                        8.11 319.28  1.25         7.21 283.94</u></div>
<div class="ContentPasted0"><u>Mdsx Low     1.40                        8.21 323.21  1.30         7.26 285.91</u></div>
<div class="ContentPasted0"><u>Mdsx High    1.40                        8.21 323.21  1.30         7.26 285.91</u></div>
<div class="ContentPasted0"><u>Mdsx Avg     1.40                  -0.65 8.21 323.21  1.30 -0.51   7.26 285.91</u></div>
<div class="ContentPasted0"><u>Hensall      1.42                        8.23 323.87  1.32         7.28 286.57</u></div>
<div class="ContentPasted0"><u>Bruce        1.40                        8.21 323.21  1.30         7.26 285.91</u></div>
<div class="ContentPasted0"><u>Putnam       1.40                        8.21 323.21  1.30         7.26 285.91</u></div>
<div class="ContentPasted0"><u>Burford      1.40                        8.21 323.21  1.30         7.26 285.91</u></div>
<div class="ContentPasted0"><u>Port Perry   1.05                        7.86 309.43  1.25         7.21 283.94</u></div>
<div class="ContentPasted0"><u>Norfolk      1.40                        8.21 323.21  1.30         7.26 285.91</u></div>
<div class="ContentPasted0"><u>Palmerston   1.31                        8.12 319.67N/A</u></div>
<div class="ContentPasted0"><u>Varna        1.40                        8.21 323.21  1.30         7.26 285.91</u></div>
<div class="ContentPasted0"><u>Belmore      1.30                        8.11 319.28  1.30         7.26 285.91</u></div>
<div class="ContentPasted0"><u>Trenton      1.25                        8.06 317.31  1.30         7.26 285.91</u></div>
<div class="ContentPasted0"><u>Winchester   1.40                        8.21 323.21  1.40         7.36 289.85</u></div>
<div class="ContentPasted0"><u>North Gower  1.37                        8.18 322.03  1.32         7.28 286.70</u></div>
<div class="ContentPasted0"><u>Vankleek Hil 1.18                        7.99 314.55  1.14         7.10 279.61</u></div>
<div class="ContentPasted0"><u>Huron FOB    1.45  1.58  1.66N/A         8.26 325.18N/A</u></div>
<div class="ContentPasted0"><u>Kent FOB     1.55                        8.36 329.12  1.30         7.26 285.91</u></div>
<div class="ContentPasted0"><u>Lamb FOB    N/A                                     N/A</u></div>
<div class="ContentPasted0"><u>Mdsx FOB     1.45N/A   N/A   N/A         8.26 325.18  1.20         7.16 281.98</u></div>
<div class="ContentPasted0"><u>FOB SW Que   2.24                        9.05 356.28N/A</u></div>
<div class="ContentPasted0"><u>Track        2.04                        8.85 348.21N/A</u></div>
<div class="ContentPasted0"><u>PROCESSORS</u></div>
<div class="ContentPasted0"><u>Chat-Eth    N/A  N/A   N/A   N/A                      N/A</u></div>
<div class="ContentPasted0"><u>Jhnstwn-Eth N/A  N/A   N/A   N/A                    N/A</u></div>
<div class="ContentPasted0"><u>Aylmer-Eth  N/A  N/A   N/A   N/A                    N/A</u></div>
<div class="ContentPasted0"><u>Sarn-Eth    N/A  N/A   N/A   N/A                    N/A</u></div>
<div class="ContentPasted0"><u>London-Ing  N/A  N/A   N/A   N/A                      1.85         7.81 307.56</u></div>
<div class="ContentPasted0"><u>Cardnl-Ing  N/A  N/A   N/A   N/A                      1.95         7.91 311.50</u></div>
<div class="ContentPasted0"><u>W O Feed     2.04                        8.85 348.21</u></div>
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<div class="ContentPasted0"><u>US Rep       2.56                        9.37 368.88</u></div>
<div class="ContentPasted0"><u>Toledo El.  -0.40                        6.41 252.37 -0.40         5.56 219.00</u></div>
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<div class="ContentPasted0"><u>TRANSFER</u></div>
<div class="ContentPasted0"><u>Pt. Colb     1.40                        8.21 323.21  1.35         7.31 287.88</u></div>
<div class="ContentPasted0"><u>Prescott    N/A                                       1.70         7.66 301.66</u></div>
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<div class="ContentPasted0"><u>HI SD CRN    1.40                        8.211</u></div>
<div class="ContentPasted0"><u>*Wet Bid</u></div>
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<div class="ContentPasted0"><u>Exchange rate was 1.3317 up 0.0015</u></div>
<div class="ContentPasted0"><u>Chicago soybeans closed slightly lower.</u></div>
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<div class="ContentPasted0"><u>      MAY23   HI 15.34  3/4              NOV23     HI 13.67</u></div>
<div class="ContentPasted0"><u>             LOW 15.07                            LOW 13.51  3/4</u></div>
<div class="ContentPasted0"><u>            CLOSE15.16  1/2  Down 13 3/4        CLOSE 13.60  1/4  Down 2 3/4</u></div>
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<div class="ContentPasted0"><u>            OLD CROP                                  NEW CROP</u></div>
<div class="ContentPasted0"><u>Location    Basis  1mt   2mt   3mt  U.S.  $/bu   $/mt Basis  U.S.   $/bu   $/mt</u></div>
<div class="ContentPasted0"><u>ELEVATORS        +MAY23+MAY23+MAY23</u></div>
<div class="ContentPasted0"><u>CK Low      4.41                         19.58 719.26  3.79        17.39 639.06</u></div>
<div class="ContentPasted0"><u>CK High     4.55                         19.72 724.40  3.85        17.45 641.27</u></div>
<div class="ContentPasted0"><u>CK Average  4.52                   -0.39 19.68 723.14  3.82 -0.52  17.42 640.17</u></div>
<div class="ContentPasted0"><u>Essex Cty   4.55                         19.72 724.40  3.80        17.40 639.43</u></div>
<div class="ContentPasted0"><u>Mdsx Low    4.45                         19.62 720.73  3.80        17.40 639.43</u></div>
<div class="ContentPasted0"><u>Mdsx High   4.55                         19.72 724.40  3.90        17.50 643.11</u></div>
<div class="ContentPasted0"><u>Mdsx Average4.50                   -0.40 19.66 722.47  3.85 -0.50  17.45 641.09</u></div>
<div class="ContentPasted0"><u>Hensall     4.50                         19.67 722.57  3.80        17.40 639.43</u></div>
<div class="ContentPasted0"><u>Bruce       4.50                         19.67 722.57  3.80        17.40 639.43</u></div>
<div class="ContentPasted0"><u>Putnam      4.50                         19.67 722.57  3.80        17.40 639.43</u></div>
<div class="ContentPasted0"><u>Burford     4.52                         19.69 723.30  3.90        17.50 643.11</u></div>
<div class="ContentPasted0"><u>Port Perry  4.36                         19.53 717.42  3.74        17.34 637.23</u></div>
<div class="ContentPasted0"><u>Norfolk     4.55                         19.72 724.40  3.85        17.45 641.27</u></div>
<div class="ContentPasted0"><u>Palmerston  4.43                         19.60 719.99  N/A</u></div>
<div class="ContentPasted0"><u>Varna       4.54                         19.71 724.03  3.80        17.40 639.43</u></div>
<div class="ContentPasted0"><u>Trenton     4.50                         19.67 722.57  3.80        17.40 639.43</u></div>
<div class="ContentPasted0"><u>Winchester  4.65                         19.82 728.08  3.75        17.35 637.60</u></div>
<div class="ContentPasted0"><u>North Gower 4.46                         19.63 721.10  3.90        17.50 643.11</u></div>
<div class="ContentPasted0"><u>Vankleek Hil5.03                         20.20 742.04  3.78        17.38 638.70</u></div>
<div class="ContentPasted0"><u>Huron FOB   4.50  4.65  4.70  N/A        19.67 722.57  N/A</u></div>
<div class="ContentPasted0"><u>Kent FOB    4.80                         19.97 733.59  3.85        17.45 641.27</u></div>
<div class="ContentPasted0"><u>Lambton FOB 4.79                         19.96 733.22  N/A</u></div>
<div class="ContentPasted0"><u>Mdsx FOB    4.82  N/A   N/A   N/A        19.99 734.32  3.83        17.43 640.53</u></div>
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<div class="ContentPasted0"><u>PROCESSORS</u></div>
<div class="ContentPasted0"><u>Windsor     5.15                         20.32 746.45  4.14        17.74 651.93</u></div>
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<div class="ContentPasted0"><u>TRANSFER</u></div>
<div class="ContentPasted0"><u>Hamilton    5.25                         20.42 750.12  4.35        17.95 659.64</u></div>
<div class="ContentPasted0"><u>Prescott     N/A                                       4.10        17.70 650.46</u></div>
<div class="ContentPasted0"><u>Port Colborn4.84                         20.01 735.06  4.31        17.91 658.17</u></div>
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<div class="ContentPasted0"><u>Toledo El.  -0.32                        14.85 545.47 -0.60        13.00 477.79</u></div>
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<div class="ContentPasted0"><u>Exchange rate was 1.3317 up 0.0015</u></div>
<div class="ContentPasted0"><u>Chicago wheat closed narrowly mixed.</u></div>
<div class="ContentPasted0"><u>MAR23      HI     7.62  1/2            JUL23   HI      7.73  1/4</u></div>
<div class="ContentPasted0"><u>           LOW    7.44  1/2                    LOW     7.58  1/4</u></div>
<div class="ContentPasted0"><u>           CLOSE  7.59  3/4  Down 1 1/2        CLOSE   7.73   Up 1 3/4</u></div>
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<div class="ContentPasted0"><u>Minni wheat closed slightly higher.</u></div>
<div class="ContentPasted0"><u>MAR23      HI     9.28  1/2            SEP23   HI      8.94  3/4</u></div>
<div class="ContentPasted0"><u>           LOW       9.16                      LOW     8.83  1/2</u></div>
<div class="ContentPasted0"><u>           CLOSE  9.26   Up 3 3/4              CLOSE   8.95   Up 4</u></div>
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<div class="ContentPasted0"><u>Direct MarkHarvest 2022                Harvest 2023</u></div>
<div class="ContentPasted0"><u>           DELIVERED BASIS             DELIVERED BASIS</u></div>
<div class="ContentPasted0"><u>Location   SWW(C) HRW(C) SRW(C) HRS(M) SWW(C)  HRW(C)  SRW(C) HRS(M)</u></div>
<div class="ContentPasted0"><u>ELEVATORS</u></div>
<div class="ContentPasted0"><u>Brgssvll     N/A    N/A   1.30    N/A    N/A     N/A    1.25    N/A</u></div>
<div class="ContentPasted0"><u>London      2.45   2.18   1.32    N/A    2.62    1.82   1.28    N/A</u></div>
<div class="ContentPasted0"><u>Hensall     4.20    N/A   1.30    N/A    2.80    N/A    1.25    N/A</u></div>
<div class="ContentPasted0"><u>Trenton      N/A    N/A    N/A    N/A    N/A     N/A    1.25    N/A</u></div>
<div class="ContentPasted0"><u>Bruce       2.30   1.80   1.30   1.15    2.25    1.75   1.25   1.15</u></div>
<div class="ContentPasted0"><u>Essex        N/A    N/A   1.35    N/A    N/A     N/A    1.25    N/A</u></div>
<div class="ContentPasted0"><u>Norwich     4.20    N/A   1.30    N/A    2.80    N/A    1.25    N/A</u></div>
<div class="ContentPasted0"><u>Port Hope    N/A    N/A   1.30    N/A    N/A     N/A    1.25    N/A</u></div>
<div class="ContentPasted0"><u>Kent Bridge 4.20    N/A   1.30    N/A    2.80    N/A    1.25    N/A</u></div>
<div class="ContentPasted0"><u>Chatham      N/A    N/A   1.35    N/A    N/A     N/A    1.25    N/A</u></div>
<div class="ContentPasted0"><u>Brigden      N/A    N/A   1.35    N/A    N/A     N/A    1.25    N/A</u></div>
<div class="ContentPasted0"><u>Palmerston   N/A    N/A    N/A    N/A    N/A     N/A     N/A    N/A</u></div>
<div class="ContentPasted0"><u>Varna       4.10   2.20   1.35    N/A    2.70    1.90   1.25    N/A</u></div>
<div class="ContentPasted0"><u>Mitchell    4.20    N/A   1.30    N/A    2.80    1.90   1.25    N/A</u></div>
<div class="ContentPasted0"><u>Thornton    2.45   2.18   1.32   1.92    2.62    1.82   1.28    N/A</u></div>
<div class="ContentPasted0"><u>North Gower  N/A   1.30   1.70   1.77    N/A     1.00   1.40   1.42</u></div>
<div class="ContentPasted0"><u>W O Feed                  2.21</u></div>
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<div class="ContentPasted0"><u>TERMINAL</u></div>
<div class="ContentPasted0"><u>Port Colbor  N/A    N/A   1.98    N/A    N/A     N/A    1.88    N/A</u></div>
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<div class="ContentPasted0"><u>PROCESSORS</u></div>
<div class="ContentPasted0"><u>Toledo FM    N/A    N/A    N/A    N/A    N/A     N/A    2.43    N/A</u></div>
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<div class="ContentPasted0"><u>Toledo El. 7.35US        9.78CA         7.48US         9.96CA</u></div>
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<div class="ContentPasted0"><u>(C)-Basis over the Chicago Board of Trade futures</u></div>
<div class="ContentPasted0"><u>(M)-Basis over the Minneapolis Grain Exchange</u></div>
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<div class="ContentPasted0"><u>FEED GRAINS</u></div>
<div class="ContentPasted0"><u>FOB Hm Soymeal            761.38</u></div>
<div class="ContentPasted0"><u>DDG's FOB Aylm            360.00</u></div>
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<div class="ContentPasted0"><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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