DTN Grain News

FARM MARKET NEWS - SOYBEAN AND WHEAT REPORT FOR Mon, September 28 Exchange rate was 1.3367 down 0.0032 Chicago soybeans closed slightly lower. NOV20 HI 10.07 1/2 NOV21 HI 9.52 LOW 9.91 1/2 LOW 9.40 CLOSE9.96 1/4 Down 6 1/4 CLOSE 9.45 3/4 Down 2 1/2 OLD CROP NEW CROP Location Basis 1mt 2mt 3mt U.S. $/bu $/mt Basis U.S. $/bu $/mt ELEVATORS +NOV20+NOV20+JAN21 CK Low 2.70 12.66 465.27 2.45 11.91 437.53 CK High 2.75 12.71 467.10 2.45 11.91 437.53 CK Average 2.71 -0.48 12.67 465.70 2.45 -0.54 11.91 437.53 Essex Cty 2.70 12.66 465.27 2.45 11.91 437.53 Mdsx Low 2.70 12.66 465.27 2.43 11.89 436.79 Mdsx High 2.70 12.66 465.27 2.45 11.91 437.53 Mdsx Average2.70 -0.49 12.66 465.27 2.44 -0.55 11.90 437.16 Hensall 2.73 12.70 466.49 2.45 11.91 437.53 Bruce 2.70 12.66 465.27 2.45 11.91 437.53 Putnam 2.70 12.66 465.27 2.45 11.91 437.53 Burford 2.77 12.73 467.84 2.50 11.96 439.36 Port Perry 2.69 12.65 464.90 2.42 11.88 436.42 Norfolk 2.70 12.66 465.27 2.45 11.91 437.53 Palmerston 2.62 12.58 462.33 2.54 12.00 440.83 Varna 2.75 12.71 467.10 2.45 11.91 437.53 Trenton 2.70 12.66 465.27 2.45 11.91 437.53 Winchester 2.90 12.86 472.62 2.61 12.07 443.40 North Gower 2.80 12.76 468.94 2.56 12.02 441.57 Vankleek Hil2.94 12.90 474.09 2.58 12.04 442.30 Huron FOB 2.84 12.80 470.41 N/A Kent FOB 2.70 12.66 465.27 2.45 11.91 437.53 Lambton FOB 2.80 12.76 468.94 2.50 11.96 439.36 Mdsx FOB 2.83 2.83 3.10 N/A 12.79 470.04 2.64 12.10 444.51 PROCESSORS Windsor 3.10 13.06 479.96 2.59 12.05 442.67 TRANSFER Hamilton 3.20 13.16 483.64 2.85 12.31 452.22 Prescott 3.15 13.11 481.80 2.84 12.30 451.86 Port Colborn3.31 13.27 487.68 N/A Toledo El. -0.27 9.70 356.24 -0.47 8.99 330.33 Exchange rate was 1.3367 down 0.0032 Chicago wheat closed slightly to moderately higher. DEC20 HI 5.51 3/4 JUL21 HI 5.63 LOW 5.37 3/4 LOW 5.50 3/4 CLOSE 5.50 1/4 Up 6 CLOSE 5.62 Up 6 Minni wheat closed slightly lower. DEC20 HI 5.32 SEP21 HI 5.65 LOW 5.25 LOW 5.65 CLOSE 5.29 1/2 Down 1/4 CLOSE 5.65 Down 3/4 GFO Cash Wheat Prices - DEL Terminal Harvest 20 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M) Basis 1.38 1.59 1.38 1.32 CAD $/bu 6.89 7.09 6.89 6.61 CAD $/tonne 253.07 260.44 253.07 242.88 Direct MarkHarvest 2020 Harvest 2021 DELIVERED BASIS DELIVERED BASIS Location SWW(C) HRW(C) SRW(C) HRS(M) SWW(C) HRW(C) SRW(C) HRS(M) ELEVATORS Brgssvll N/A N/A 1.05 N/A N/A N/A 1.15 N/A London 1.15 1.22 1.02 N/A 1.53 1.53 1.12 N/A Hensall 1.30 N/A 1.05 N/A 1.35 N/A 1.15 N/A Trenton N/A N/A N/A N/A N/A N/A 1.05 N/A Bruce 1.05 1.15 1.05 0.95 1.25 1.20 1.15 N/A Essex N/A N/A 1.05 N/A N/A N/A 1.20 N/A Norwich 1.30 N/A 1.05 N/A 1.35 N/A 1.15 N/A Port Hope N/A N/A 1.05 N/A N/A N/A 1.15 N/A Kent Bridge 1.30 N/A 1.05 N/A 1.35 N/A 1.15 N/A Chatham N/A N/A 1.05 N/A N/A N/A 1.20 N/A Brigden N/A N/A 1.05 N/A N/A N/A 1.20 N/A Palmerston N/A 1.52 1.12 1.18 N/A 1.72 1.25 0.83 Varna 1.10 1.10 1.05 N/A 1.30 1.20 1.15 N/A Mitchell 1.30 1.35 1.05 N/A 1.35 1.45 1.15 N/A Thornton N/A N/A N/A 1.23 N/A N/A N/A N/A North Gower N/A 1.40 1.25 1.00 N/A 1.66 1.47 0.92 W O Feed 1.67 TERMINAL Port Colbor N/A N/A 1.48 N/A N/A N/A 1.53 N/A PROCESSORS Toledo FM N/A N/A 1.85 N/A N/A N/A 2.02 N/A Toledo El. 5.40US 7.22CA 5.57US 7.44CA GFO Contract Wheat Prices - DEL Terminal Harvest 21 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M) Basis 1.75 1.89 1.55 1.10 CAD $/bu 7.37 7.51 7.17 6.75 CAD $/tonne 270.90 275.81 263.54 247.84 (C)-Basis over the Chicago Board of Trade futures (M)-Basis over the Minneapolis Grain Exchange FEED GRAINS FOB Hm Soymeal 533.42 DDG's FOB Srn & Aylm 250.00 - 255.00

FARM MARKET NEWS - CORN REPORT FOR Mon, September 28 Exchange rate was 1.3367 down 0.0032 Chicago corn closed slightly higher. DEC20 HI 3.69 3/4 DEC20 HI 3.69 3/4 LOW 3.60 1/2 LOW 3.60 1/2 CLOSE3.66 3/4 Up 1 1/2 CLOSE 3.66 3/4 Up 1 1/2 OLD CROP BASIS NEW CROP BASIS Location Spot 1mt 2mt 3mt U.S. $/bu $/mt Cntrct U.S. $/bu $/mt ELEVATORS +DEC20+DEC20+MAR21 CK Low 1.65 5.32 209.34 1.10 4.77 187.69 CK High 1.70 5.37 211.31 1.10 4.77 187.69 CK Avg 1.66 0.32 5.33 209.67 1.10 -0.10 4.77 187.69 Essex Cty 1.70 5.37 211.31 1.10 4.77 187.69 Mdsx Low 1.65 5.32 209.34 1.10 4.77 187.69 Mdsx High 1.65 5.32 209.34 1.10 4.77 187.69 Mdsx Avg 1.65 0.31 5.32 209.34 1.10 -0.10 4.77 187.69 Hensall 1.67 5.33 210.00 1.12 4.78 188.34 Bruce 1.65 5.32 209.34 1.10 4.77 187.69 Putnam 1.65 5.32 209.34 1.10 4.77 187.69 Burford 1.65 5.32 209.34 1.10 4.77 187.69 Port Perry 1.65 5.32 209.34 1.20 4.87 191.63 Norfolk 1.70 5.37 211.31 1.10 4.77 187.69 Palmerston 1.74 5.41 212.88 1.10 4.77 187.69 Varna 1.65 5.32 209.34 1.10 4.77 187.69 Trenton 1.65 5.32 209.34 1.20 4.87 191.63 Winchester N/A 1.50 5.17 203.44 North Gower 1.65 5.32 209.34 1.45 5.12 201.47 Vankleek Hil 1.37 5.04 198.32 1.24 4.91 193.20 Huron FOB 2.09 5.76 226.66 1.29 4.96 195.17 Kent FOB 1.90 5.57 219.18 1.20 4.87 191.63 Lamb FOB 2.05 5.72 225.09 1.25 4.92 193.59 Mdsx FOB 2.10 1.20 1.20N/A 5.77 227.06 1.20 4.87 191.63 FOB SW Que 1.58 5.25 206.58N/A Track 2.14 5.81 228.63N/A PROCESSORS Chat-Eth N/A N/A N/A 1.31 N/A Jhnstwn-Eth N/A N/A 1.48 1.51 1.48 5.15 202.65 Aylmer-Eth N/A N/A N/A N/A N/A Sarn-Eth N/A N/A 1.25N/A 1.25 4.92 193.59 London-Ing N/A 1.65 1.45 1.45 1.45 5.12 201.47 Pt.Colb-Ing N/A N/A N/A N/A N/A Cardnl-Ing N/A 1.70 1.65 1.50 1.65* 5.32 209.34 W O Feed 2.40 6.07 239.02 US Rep 2.11 5.78 227.45 Toledo El. -0.20 3.47 136.49 -0.27 3.40 133.87 TRANSFER Pt. Colb 2.20 5.87 230.99 1.50 5.17 203.44 Prescott 1.90 5.57 219.18 1.77 5.44 214.06 HI SD CRN 1.10 4.76 3/4 *Wet Bid

DTN Closing Grain Comments 09/28 13:52 Grains Mixed Ahead of Harvest Progress Update December corn ended up 1 1/2 cents and November soybeans were down 6 1/4 cents Monday, despite more bullish export sales news for both. December KC wheat was up 7 1/2 cents, leading percentage gains in the grains sector with USDA ready to give updates of harvest and planting progress at 3 p.m. CDT.

DTN Weather Trend Indicators 09/28 14:20 Weather Indicator status values are: Corn=Neutral Soybeans=Neutral Wheat=Neutral LEGEND: The indicator choices are: Corn, Soybeans, Wheat The status choices are: Up, Down, Neutral For example: Corn=Neutral

DTN Midday Grain Comments 09/28 11:07 Grains Mixed at Midday Corn is 1 to 2 cents higher, soybeans are 6 to 7 cents lower, and wheat is flat to 4 cents higher. David M. Fiala DTN Contributing Analyst The U.S. stock market is firmer with the Dow up 490 points. The dollar index is 30 points lower. Interest rate products are lower. Energies are firmer with crude $0.18 higher. Livestock trade is mixed. Precious metals are higher with gold up $9. CORN Corn trade is 1 to 2 cents higher at midday with trade bouncing back from the early test of support as harvest expands. The daily export wire had sales of 207,140 metric tons sold to unknown, and 110,800 metric tons to Japan. Ethanol margins are steady with unleaded holding near the upper end of the recent range. Basis should see pressure this week with more bushels coming in to town. Weekly export inspections were ok at 806,327 metric tons, with weekly crop progress showing steady to slightly lower conditions with maturity and harvest ahead of average. On the December contract, trade has support at the $3.65 20-day moving average which are tested overnight then the $3.52 lower Bollinger band, with the recent high at $3.78 as resistance. SOYBEANS Soybean trade is 6 to 7 cents lower with trade seeing further harvest pressure and long liquidation ongoing to start the week, even as we saw further export sales of 218,300 metric tons to unknown. Meal is 7.50 to 8.50 lower and oil is 5 to 15 points higher. The ral remains in the lower end of the range ahead of South American planting with farmers waiting for seasonal rains while Argentine farmer selling remains slow, with Brazil heavily sold ahead. Export offers continue to get tighter in availability as well with meal driving the product complex while strain on domestic logistics will increase as shipping pace needs to rise with export inspections a little disappointing at 1.211 million metric tons. Weekly crop progress should show steady to lower conditions with maturity and harvest ahead of normal. The November chart has resistance at the upper Bollinger Band at $10.46 3/4 which is also the fresh high with support the 20-day at $9.93 which we have tested this a.m. WHEAT Wheat trade is flat to 5 cents higher at midday with light buying emerging after early weakness. Export competiveness remains about the same with the focus remaining on Europe dryness along with US plains progress. KC is at a 68-cent discount to Chicago with spreads narrowing after the recent strength, while Minneapolis is back to a 18 cent discount with weaker action. Wheat drilling progress should expand across the plains short term with ok moisture for most for now but follow up rain lacking overall. Weekly export inspections are expected were good at 563,427 metric tons, with planting progress nearing halfway with emergence a little better than average. KC December chart resistance is the fresh high at $5.09, and support is the 20-day at $4.78, which we are just above with the lower Bollinger band the next level at $4.61. David Fiala is a DTN contributing analyst and the President of FuturesOne and a registered adviser. He can be reached at dfiala@futuresone.com Follow him on Twitter @davidfiala (c) Copyright 2020 DTN, LLC. All rights reserved.

USDA Daily Market Rates 09/28 06:47 DAILY MARKET RATES(GRAIN/MISCELLANEOUS COMMODITIES) Effective: September 28, 2020 The following Market Rates are established to aid in the development of the Posted County Prices (PCPs) which are used by county Farm Services Agency (FSA) Offices for loan redemption purposes. Uses of these rates for other purposes may not be appropriate. Questions concerning the grain, pulses and oilseed market values should be directed to: Agricultural Marketing Service/Warehouse & Commodity Management Division/Commodity Management Branch at: (816) 926-3816 THE FOLLOWING MARKET RATES ARE EFFECTIVE 7:00 A.M. (E.T.) 09/28/2020 COMMODITIES Wheat (BU) Wheat (BU) Wheat (BU) Wheat (BU) MARKET HRW HRS SRW SWW AMA 4.50 */(17) CIN 5.24 */(37) EVN 5.42 */(38) GLF 6.15 */(18) */(19) 5.84 */(39) */(20) */(21) */(22) KCM 5.82 */(23) 5.51 */(40) MEM 5.54 */(41) MIN 5.70 */(24) */(25) 6.15 */(15) PNW 6.15 */(26) 5.98 */(16) 5.52 */(43) */(44) TOL 5.34 */(42) 5.34 */(45) WCD 6.15 */(27) */(28) 5.37 */(46) THE FOLLOWING MARKET RATES ARE EFFECTIVE 7:00 A.M. (E.T.) 09/28/2020 COMMODITIES Wheat (BU) Corn (BU) Barley (BU) MARKET HAD YC BRL AMA 4.20 */(47) CIN 3.66 */(48) GLF 4.27 */(49) */(50) 3.49 */(1) KCM 3.55 */(51) 3.14 */(2) LOS 7.90 */(11) */A MEM 3.87 */(52) MIN 7.25 */(12) */B 3.32 */(53) 2.94 */(3) */(4) */(5) PNW 7.55 */(13) */C 4.79 */(54) */(55) 3.41 */(6) */(7) TKO 3.60 */(56) */(57) TOL 3.50 */(58) WCD 7.95 */(14) */D 5.05 */(59) 4.79 */(8) */(9) */(10) DURUM DISCOUNTS */A LOS DISCOUNT ($-0.55) FOR AMBER DURUM AND ($-1.30) FOR DURUM */B MIN DISCOUNT ($-0.95) FOR AMBER DURUM AND ($-1.65) FOR DURUM */C PNW DISCOUNT ($-0.95) FOR AMBER DURUM AND ($-1.70) FOR DURUM */D WCD DISCOUNT ($-0.55) FOR AMBER DURUM AND ($-1.30) FOR DURUM THE FOLLOWING MARKET RATES ARE EFFECTIVE 7:00 A.M. (E.T.) 09/28/2020 COMMODITIES Oats (BU) Soybeans (BU) Grain Sorghum (CWT) MARKET OAT YSB SOR CIN 10.11 */(60) 8.08 */(31) GLF 10.72 */(61) */(62) 9.00 */(32) */(63) */(64) */(65) KCM 10.03 */(66) MEM 10.33 */(67) 5.95 */(33) MIN 3.17 */(29) 9.68 */(68) */(69) NCD 7.42 */(34) PNW 3.40 */(30) 11.43 */(70) SCD 7.65 */(35) TKO 10.03 */(71) TOL 9.83 */(72) WCD 9.52 */(36) COMMODITIES BRL - Barley HAD - Durum HRS - Hard Red Spring HRW - Hard Red Winter OAT - Oats SOR - Sorghum SRW - Soft Red Winter SWW - Soft White Wheat YC - Yellow Corn YSB - Yellow Soybeans MARKET REGIONS MIN - Minnesota Marketing Area PNW - Pacific Northwest WCD - West Coast Domestic KCM - Kansas City Marketing Area GLF - Gulf Marketing Area LOS - Los Angeles, CA AMA - Amarillo, TX SCD - South Central Domestic CIN - Cincinnati, OH NCD - North Central Domestic MEM - Memphis, TN TOL - Toledo, OH EVN - Evansville, IN TKO - Decatur, IL ****NOTE CHANGES TO DIFFERENTIAL INFORMATION EFFECTIVE 09/28/2020 ***** POSTED COUNTY PRICE DIFFERENTIAL INFORMATION (Cents per bushel except as noted) UNTIL FURTHER NOTICE THE TERMINAL MARKETS LISTED BELOW WILL HAVE DIFFERENTIALS ADJUSTED AS FOLLOWS: (1) GLF BRL differentials add -0.10 cents/bu (Effective 3/12/2020) (2) KCM BRL differentials add -0.10 cents/bu (Effective 3/12/2020) (3) MIN BRL differentials in WY add -0.02 cents/bu (Effective 7/31/2017) (4) MIN BRL differentials in MT add 0.00 cents/bu (Effective 6/25/2020) (5) MIN BRL differentials add 0.05 cents/bu (Effective 3/12/2020) (6) PNW BRL differentials in MT add -0.06 cents/bu (Effective 2/15/2013) (7) PNW BRL differentials add 0.07 cents/bu (Effective 3/18/2020) (8) WCD BRL differentials in ID add 0.03 cents/bu (Effective 3/7/2016) (9) WCD BRL differentials in MT add -0.02 cents/bu (Effective 8/2/2017) (10) WCD BRL differentials add -0.80 cents/bu (Effective 3/18/2020) (11) LOS HAD differentials add -0.55 cents/bu (Effective 1/13/2020) (12) MIN HAD differentials add -0.53 cents/bu (Effective 3/23/2020) (13) PNW HAD differentials add -0.40 cents/bu (Effective 8/14/2020) (14) WCD HAD differentials add -0.55 cents/bu (Effective 1/13/2020) (15) MIN HRS differentials add -0.90 cents/bu (Effective 9/28/2020) (16) PNW HRS differentials add -0.44 cents/bu (Effective 9/28/2020) (17) AMA HRW differentials add 0.00 cents/bu (Effective 10/4/2018) (18) GLF HRW differentials in KS add 0.00 cents/bu (Effective 10/5/2017) (19) GLF HRW differentials in NE add -0.05 cents/bu (Effective 7/17/2018) (20) GLF HRW differentials in OK add 0.00 cents/bu (Effective 7/17/2018) (21) GLF HRW differentials in CO add 0.00 cents/bu (Effective 5/6/2020) (22) GLF HRW differentials add -0.66 cents/bu (Effective 9/23/2020) (23) KCM HRW differentials add -0.77 cents/bu (Effective 9/3/2020) (24) MIN HRW differentials in SD add 0.00 cents/bu (Effective 9/21/2017) (25) MIN HRW differentials add -0.55 cents/bu (Effective 9/23/2020) (26) PNW HRW differentials add -0.73 cents/bu (Effective 9/8/2020) (27) WCD HRW differentials in CA add 0.00 cents/bu (Effective 6/25/2020) (28) WCD HRW differentials add -0.98 cents/bu (Effective 9/8/2020) (29) MIN OAT differentials add -0.39 cents/bu (Effective 9/22/2020) (30) PNW OAT differentials add -0.49 cents/bu (Effective 8/27/2020) (31) CIN SOR differentials add -0.35 cents/cwt (Effective 7/8/2020) (32) GLF SOR differentials add -0.65 cents/cwt (Effective 9/18/2020) (33) MEM SOR differentials add 0.00 cents/cwt (Effective 3/26/2019) (34) NCD SOR differentials add 0.00 cents/cwt (Effective 4/23/2020) (35) SCD SOR differentials add 0.00 cents/cwt (Effective 10/8/2019) (36) WCD SOR differentials add -0.55 cents/cwt (Effective 9/21/2020) (37) CIN SRW differentials add 0.00 cents/bu (Effective 9/3/2020) (38) EVN SRW differentials add 0.00 cents/bu (Effective 8/27/2020) (39) GLF SRW differentials add -0.16 cents/bu (Effective 9/24/2020) (40) KCM SRW differentials add 0.00 cents/bu (Effective 7/15/2020) (41) MEM SRW differentials add -0.07 cents/bu (Effective 7/30/2020) (42) TOL SRW differentials add 0.03 cents/bu (Effective 9/2/2020) (43) PNW SWW differentials in ID add 0.00 cents/bu (Effective 6/2/2017) (44) PNW SWW differentials add -0.28 cents/bu (Effective 11/8/2017) (45) TOL SWW differentials add -0.05 cents/bu (Effective 9/30/2019) (46) WCD SWW differentials add -0.27 cents/bu (Effective 6/15/2016) (47) AMA YC differentials add -0.30 cents/bu (Effective 9/22/2020) (48) CIN YC differentials add -0.10 cents/bu (Effective 9/3/2020) (49) GLF YC differentials in MN add 0.00 cents/bu (Effective 6/25/2020) (50) GLF YC differentials add -0.41 cents/bu (Effective 9/23/2020) (51) KCM YC differentials add -0.05 cents/bu (Effective 9/14/2020) (52) MEM YC differentials add -0.21 cents/bu (Effective 8/31/2020) (53) MIN YC differentials add 0.00 cents/bu (Effective 8/19/2020) (54) PNW YC differentials in ND add 0.00 cents/bu (Effective 6/25/2020) (55) PNW YC differentials add -0.75 cents/bu (Effective 9/28/2020) (56) TKO YC differentials in WI add -0.02 cents/bu (Effective 7/29/2020) (57) TKO YC differentials add 0.00 cents/bu (Effective 9/24/2020) (58) TOL YC differentials add -0.04 cents/bu (Effective 9/22/2020) (59) WCD YC differentials add -0.84 cents/bu (Effective 7/30/2020) (60) CIN YSB differentials add -0.21 cents/bu (Effective 9/22/2020) (61) GLF YSB differentials in AL add 0.04 cents/bu (Effective 10/17/2017) (62) GLF YSB differentials in LA add 0.04 cents/bu (Effective 10/17/2017) (63) GLF YSB differentials in MS add 0.04 cents/bu (Effective 10/17/2017) (64) GLF YSB differentials in MN add 0.04 cents/bu (Effective 12/27/2017) (65) GLF YSB differentials add -0.51 cents/bu (Effective 9/10/2020) (66) KCM YSB differentials add -0.18 cents/bu (Effective 9/25/2020) (67) MEM YSB differentials add -0.43 cents/bu (Effective 9/17/2020) (68) MIN YSB differentials in WI add 0.04 cents/bu (Effective 7/31/2020) (69) MIN YSB differentials add -0.03 cents/bu (Effective 9/28/2020) (70) PNW YSB differentials add -1.16 cents/bu (Effective 9/22/2020) (71) TKO YSB differentials add -0.33 cents/bu (Effective 9/15/2020) (72) TOL YSB differentials add -0.20 cents/bu (Effective 9/9/2020) MINOR OILSEEDS THE FOLLOWING MARKET RATES ARE EFFECTIVE 7:00 A.M. (ET) 09/28/2020 ALL PRICES PER CWT. MARKET CAN CRA RAP FLX MUS SAF SEM SUN ARL 14.82 AUG 14.82 CAR 15.48 COL 19.00 COR 19.00 FAR 18.93 16.83 GFK 26.00 GLD 18.10 GRF 22.00 16.07 26.00 PAR 20.00 RDW 16.02 20.98 RIC 19.00 VEL 16.17 COMMODITIES: MARKETS: CAN - CANOLA ARL - ARLINGTON, GA CRA - CRAMBE AUG - AUGUSTA, GA RAP - RAPESEED CAR - CARRINGTON, ND FLX - FLAX COL - COLUSA, CA SEM - SESAME SEED COR - CORCORAN, CA SUN - SUNFLOWER SEEDS (OIL TYPE) FAR - FARGO, ND SAF - SAFFLOWER GLD - GOODLAND, KS MUS - MUSTARD (INCLUDES): GFK - GRAND FORKS, ND YMU - YELLOW GRF - GREAT FALLS, MT BMU - BROWN PAR - PARIS, TX CMU - ORIENTAL RDW - RED WING, MN XMU - MIXED RIC - RICHMOND, CA VEL - VELVA, ND PULSES THE FOLLOWING MARKET RATES ARE EFFECTIVE 7:00 A.M. (ET) 09/28/2020. ALL PRICES PER CWT. MARKET CHL CHK LEN PEA USP 17.88 13.88 16.10 7.45 COMMODITIES: MARKETS: CHL - LARGE CHICKPEAS CHK - SMALL CHICKPEAS USP - United States Pulses LEN - LENTILS PEA - PEAS* YPE - YELLOW GPE - GREEN * ALSO INCLUDES, WRINKLED, DRY, WINTER DRY (AUSTRIAN WINTER), MISCELLANEOUS (MARROWFAT - TYPE PEAS), MIXED. COTTON PRICES UPLAND COTTON ADJUSTED WORLD PRICE (AWP), FINE COUNT ADJUSTMENT (FCA), COARSE COUNT ADJUSTMENT (CCA), and MARKETING LOAN GAIN/LOAN DEFICIENCY PAY RATE (LDP) Effective 12:01 a.m. Eastern Time, Friday, 09/25/20, through midnight Eastern Time, Thursday, 10/01/20: AWP = 50.45 cents per pound FCA 2019 crop = 0.38 cents per pound FCA 2020 crop = 0.33 cents per pound CCA = 0.00 cents per pound LDP Rate = 1.55 cents per pound, subject to allowable fine count or coarse count adjustment. The next scheduled AWP, FCA, and CCA announcement will be at 4:00 p.m.Eastern Time, Thursday, 10/01/20. The following world prices of rice are effective from 09/23/20 at 7:00 am eastern time until the next announcement occurs. The next price announcement is scheduled for 09/30/20 at 7:00 am eastern time. . Rates Per Hundredweight Rough Rates Per Pound For . Rice for Farm-Stored and Milled Rice Kernels . Warehouse Loans and LDPs _____________________________________________________________________ . 2019 CROP . World Loan Market World Loan . Market Gain and Price Rate . Index LDP Rate ----Cents/Pound---- . ---$/Hundredweight--- . Long 16.87 11.09 . 14.88 0.00 Med/Short 16.53 10.50 . 14.69 0.00 Broken 10.70 6.11 . na na _____________________________________________________________________ . 2020 CROP . World Loan Market World Loan . Market Gain and Price Rate . Index LDP Rate ----Cents/Pound---- . ---$/Hundredweight--- . Long 16.78 11.10 . 14.81 0.00 Med/Short 16.47 10.45 . 14.53 0.00 Broken 10.64 6.45 . na na _____________________________________________________________________ The above prices are based on the following loan rates, world prices and milling yields per hundredweight of rough rice: 2019 CROP Loan Rate World Price . Whole/Broken Yield ------ $/Cwt ------ . (Pounds/Cwt) . Long 6.86 10.65 . 53.46/15.26 Med/Short 7.16 11.35 . 63.50/8.00 2020 CROP Loan Rate World Price . Whole/Broken Yield ------ $/Cwt ------ . (Pounds/Cwt) . Long 7.00 10.71 . 54.76/14.31 Med/Short 7.00 11.08 . 61.12/9.55

DTN Early Word Grains 09/28 05:56 Grains Weaker on Fund Positions, Hedge Pressure December corn is down 3 cents per bushel, November soybeans are down 1/2 cent, and December KC wheat is down 3 1/2 cents. Tregg Cronin DTN Contributing Analyst Pre-6 a.m. Globex Prices: December corn is down 3 cents per bushel, November soybeans are down 1/2 cent, and December KC wheat is down 3 1/2 cents. CME Globex Recap: Equity markets are firmer out of the gate this week with U.S. futures pointed at a higher open later Monday morning. Intermediate term trends are still down on U.S. stock futures but E-mini S&P's were able to hold their 100-day moving average last week heading into what should be a volatile October. Energy markets are weaker overnight with spot crude oil futures right back to $40.00 per barrel. Natural gas is down over 2.0% overnight. The U.S. Dollar Index is weaker overnight after it rallied to two-month highs last week. Precious metals are softer overnight. Grain markets are mostly weaker overnight with corn and wheat leading losses. Corn and soybeans are feeling the effects of increased harvest pressure across the Midwest as well as larger than expected fund long positions following the recent rally. OUTSIDE MARKETS: Previous closes on Friday showed the Dow Jones Industrial Average up 358.52 at 27,173.96 and the S&P 500 up 51.87 at 3,246.59 while the 10-Year Treasury yield ended at 0.659%. Early Monday, the December DJIA futures are up 344 points. Asian markets are mixed with Japan's Nikkei 225 up 307 (1.32%) and China's Shanghai Composite down 1.88 points (-0.06%). European markets are higher with London's FTSE 100 up 75 points (1.28%), Germany's DAX up 304.95 points (2.45%) and France's CAC 40 up 81.51 points (1.72%). The December Euro is up 0.004 at 1.170 and the December U.S. dollar index is down 0.307 at 94.375. The December 30-Year T-Bond is down 11/32nds, while December gold is down $5.60 at $1,860.70 and November crude oil is down $0.18 at $40.07. Soybeans on China's Dalian Exchange were down 0.16% while soybean meal was up 1.02%.

Cotton AWP/LDP 09/25 10:25 Weekly cotton Fine Count Price and Adjustment data. | Fine Fine FE Trans | Count Count FE Fine Coarse & | Adj Adj Adj Week Count FE Count Qual | World 2019.00 2020 CCA LDP Date Price Price Price Adj | Price Crop** Crop** 09/25/20 71.37 69.70 72.37 19.25 | 50.45 0.38 0.33 0.00 1.55 09/18/20 71.77 70.13 72.80 19.25 | 50.88 0.41 0.36 0.00 1.12 09/11/20 70.52 69.02 71.84 19.25 | 49.77 0.55 0.50 0.00 2.23 09/04/20 71.19 69.69 72.73 19.25 | 50.44 0.55 0.50 0.00 1.56 08/28/20 71.27 69.75 72.85 19.25 | 50.50 0.53 0.48 0.00 1.50 **Fine Count Adjustment cannot be less than zero. NA = not available.

September 24, 2020 Portland Price Trends 09-01-19 01-01-20 08-01-20 09-17-20 09-24-20 #1 SWW (bu) 5.70 6.15 5.60 5.40 5.55 White Club 5.70 7.65 6.00 5.75 5.90 DNS 14% 5.67 7.21 6.21 6.59 6.52 HRW 11.5% 5.20 6.26 5.71 6.27 6.26 #2 Corn (ton) 162.00 172.00 151.00 164.00 164.00 #2 Barley 140.00 140.00 130.00 130.00 130.00 Wheat...Recent white wheat export demand is becoming apparent in bids, as both flat price and basis levels moved higher this week. Basis moved back into positive territory versus Chicago futures, marking a recovery of nearly 40 cents from harvest lows. Protein wheats put in a relatively steady week, holding mostly in-line with week-ago levels. Weekly Sales...USDA reported another relatively subdued week of export demand for all wheats except soft white wheat. Overall sales came in at 12.9 mb for the week, 30% below the four-week average, which puts current year commitments at 496 mb; 7% better than a year ago and 9% above the 5- year average pace. White wheat was top seller for the week with 4.8 mb, setting 25% ahead of a year ago and 14% above average with 105 mb booked. Hard red spring sold 3.7 mb and with 145 mb in sales, sets 15% ahead of a year ago and 8% above average. Hard red winter garnered 3.4 mb, placing sales 3% ahead of a year ago and 11% ahead of average. Top Buyers...South Korea was atop a long list of buyers last week with 4.1 mb, followed by Vietnam with 2.3 mb, Japan at 2.1 mb, the Philippines with 1.5 mb and Nigeria with 1.1 mb. -Norm Ruhoff Contributing Analyst Copyright 2020 DTN/Telvent. All Rights Reserved.

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