DTN Grain News

FARM MARKET NEWS - SOYBEAN AND WHEAT REPORT FOR Thu, August 22 Exchange rate was 1.3293 up 0.0011 Chicago soybeans closed slightly lower. NOV19 HI 8.82 NOV19 HI 8.82 LOW 8.67 3/4 LOW 8.67 3/4 CLOSE8.68 3/4 Down 4 1/4 CLOSE 8.68 3/4 Down 4 1/4 OLD CROP NEW CROP Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt ELEVATORS +NOV1+NOV1+NOV19 CK Low 2.20 10.89 400.052.05 10.74 394.54 CK High 2.30 10.99 403.722.13 10.82 397.48 CK Average 2.24 -0.4610.93 401.642.10 -0.5510.78 396.25 Essex Cty 2.25 10.94 401.882.10 10.79 396.37 Mdsx Low 2.14 10.83 397.842.06 10.75 394.90 Mdsx High 2.30 10.99 403.722.10 10.79 396.37 Mdsx Average 2.22 -0.4810.91 400.782.08 -0.5710.77 395.64 Hensall 2.30 10.99 403.722.10 10.79 396.37 Bruce 2.25 10.94 401.882.05 10.74 394.54 Putnam 2.30 10.99 403.722.10 10.79 396.37 Burford 2.19 10.88 399.682.11 10.80 396.74 Port Perry 2.16 10.85 398.582.08 10.77 395.64 Norfolk 2.25 10.94 401.882.10 10.79 396.37 Palmerston 2.25 10.94 401.882.05 10.74 394.54 Varna 2.30 10.99 403.722.10 10.79 396.37 Trenton 2.15 10.84 398.212.15 10.84 398.21 Winchester N/A 2.03 10.72 393.80 North Gower 2.00 10.69 392.702.18 10.87 399.31 Huron FOB 2.40 11.09 407.402.20 10.89 400.05 Kent FOB 2.35 11.04 405.562.10 10.79 396.37 Lambton FOB 2.15 10.84 398.212.25 10.94 401.88 Middlesex FOB2.53 2.53 N/A N/A 11.22 412.172.18 10.87 399.31 PROCESSORS Windsor 2.60 11.29 414.742.40 11.09 407.40 TRANSFER Hamilton 2.80 11.49 422.092.55 11.24 412.91 Prescott N/A 2.40 11.09 407.40 Port Colborne N/A N/A Toledo El. -0.33 8.36 307.00-0.49 8.20 301.19 Exchange rate was 1.3293 up 0.0011 Chicago wheat closed slightly higher. SEP19 HI 4.70 1/2 JUL20 HI 4.88 LOW 4.60 3/4 LOW 4.80 3/4 CLOSE 4.67 1/4 Up 4 3/4 CLOSE 4.85 3/4 Up 2 Minni wheat closed slightly lower. SEP19 HI 5.03 3/4 SEP20 HI 5.58 1/4 LOW 4.97 3/4 LOW 5.55 CLOSE 4.98 1/2 Down 3 3/4 CLOSE 5.55 3/4 Down 2 1/2 GFO Cash Wheat Prices - DEL Terminal Harvest 19 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M) Basis 2.00 2.27 1.94 1.24 CAD $/bu 6.68 6.94 6.61 6.23 CAD $/tonne 245.31 255.08 242.87 228.82 Direct MarkHarvest 2019 Harvest 2020 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 1.60 N/A N/A N/A 1.10 N/A London 1.64 1.91 1.58 N/A 1.24 1.38 1.04 N/A Hensall 1.70 N/A 1.60 N/A 1.30 N/A 1.10 N/A Trenton N/A N/A 1.60 N/A N/A N/A 1.20 N/A Bruce 1.70 2.00 1.60 1.30 1.30 1.50 1.10 N/A Essex N/A N/A 1.55 N/A N/A N/A 1.10 N/A Norwich 1.70 N/A 1.60 N/A 1.30 N/A 1.10 N/A Port Hope N/A 1.85 1.65 N/A N/A 1.45 1.20 N/A Kent Bridge 1.70 N/A 1.60 N/A 1.30 N/A 1.10 N/A Chatham N/A N/A 1.60 N/A N/A N/A 1.10 N/A Brigden N/A N/A 1.60 N/A N/A N/A 1.10 N/A Palmerston N/A 2.00 1.60 1.30 N/A 1.58 1.23 0.95 Varna 1.70 2.00 1.60 N/A 1.30 1.50 1.10 N/A Mitchell 1.70 1.90 1.60 N/A 1.30 1.50 1.10 N/A Thornton N/A N/A N/A 1.54 N/A N/A N/A N/A North Gower N/A 2.15 1.88 1.15 N/A 1.78 1.46 0.90 W O Feed 2.26 TERMINAL Port Colbor 1.98 2.25 1.92 N/A N/A N/A N/A N/A PROCESSORS Toledo FM N/A N/A 1.80 N/A N/A N/A N/A N/A Toledo El. 4.87US 6.48CA 4.81US 6.37CA GFO Contract Wheat Prices - DEL Terminal Harvest 20 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M) Basis 1.52 1.78 1.45 1.01 CAD $/bu 6.37 6.64 6.31 6.57 CAD $/tonne 234.18 243.93 231.75 241.49 (C)-Basis over the Chicago Board of Trade futures (M)-Basis over the Minneapolis Grain Exchange FEED GRAINS FOB Hm Soymeal 460.44 DDG's FOB Srn & Aylm 190.00 - 195.00

FARM MARKET NEWS - CORN REPORT FOR Thu, August 22 Bank of Canada Noon exchange rate was 1.3293 up 0.0011 Chicago corn closed slightly higher. SEP19 HI 3.66 1/2 DEC19 HI 3.74 1/2 LOW 3.59 LOW 3.68 CLOSE3.63 1/4 Up 3/4 CLOSE 3.71 Up 3/4 OLD CROP BASIS NEW CROP BASIS Location Spot 1mt 2mt 3mt U.S. $/bu $/mt Cntrct U.S. $/bu $/mt ELEVATORS +DEC19+DEC19+DEC19 CK Low 1.95 5.58 219.77 1.25 4.96 195.27 CK High 2.00 5.63 221.74 1.30 5.01 197.23 CK Avg 1.96 0.57 5.59 220.10 1.28 0.06 4.99 196.58 Essex Cty 2.00 5.63 221.74 1.30 5.01 197.23 Mdsx Low 1.95 5.58 219.77 1.30 5.01 197.23 Mdsx High 1.95 5.58 219.77 1.30 5.01 197.23 Mdsx Avg 1.95 0.57 5.58 219.77 1.30 0.07 5.01 197.23 Hensall 1.95 5.58 219.77 1.33 5.04 198.22 Bruce 1.95 5.58 219.77 1.30 5.01 197.23 Putnam 1.95 5.58 219.77 1.30 5.01 197.23 Burford 1.95 5.58 219.77 1.30 5.01 197.23 Port Perry 1.95 5.58 219.77 1.30 5.01 197.23 Norfolk 2.00 5.63 221.74 1.30 5.01 197.23 Palmerston 1.80 5.43 213.87 1.30 5.01 197.23 Varna 1.90 5.53 217.80 1.30 5.01 197.23 Trenton 1.95 5.58 219.77 1.30 5.01 197.23 Winchester N/A 1.35 5.06 199.20 North Gower 1.55 5.18 204.03 1.40 5.11 201.17 Huron FOB 2.10 5.73 225.68 1.30 5.01 197.23 Kent FOB 2.15 5.78 227.65 1.35 5.06 199.20 Lamb FOB 2.10 5.73 225.68 1.35 5.06 199.20 Mdsx FOB 2.15N/A N/A N/A 5.78 227.65 1.30 5.01 197.23 FOB SW Que 2.65 6.28 247.33 1.33 5.04 198.42 Track 2.35 5.98 235.52N/A PROCESSORS Chat-Eth N/A N/A N/A N/A N/A Jhnstwn-Eth N/A N/A N/A N/A N/A Aylmer-Eth N/A N/A 2.25N/A N/A Sarn-Eth N/A N/A N/A N/A 1.40 5.11 201.17 London-Ing N/A N/A 1.95N/A N/A Pt.Colb-Ing N/A N/A N/A N/A N/A* Cardnl-Ing N/A N/A 1.55 1.50 1.50 5.21 205.11 W O Feed 2.56 6.19 243.63 US Rep 2.54 6.17 243.00 Toledo El. 0.51 4.14 162.89 0.20 3.91 153.89 TRANSFER Pt. Colb N/A 1.65 5.36 211.01 Prescott 2.05 5.68 223.71 1.50 5.21205 1/9 MID SD CRN 1.27 1/2 4.98 1/2 HI SD CRN 1.30 5.01 *Wet Bid

DTN Closing Grain Comments 08/22 13:52 Winter Wheat Prices Get Modest Boost December Chicago and KC wheats both closed up 3 3/4 cents Thursday, showing a little benefit from a higher start for exports in 2019-20. November soybeans ended down 4 1/4 cents and December corn was up 3/4 cent while scattered showers worked across the southern Midwest.

DTN Midday Grain Comments 08/22 11:03 Grains Mixed at Midday Wheat leads mixed trade at midday. By David Fiala DTN Contributing Analyst General Comments The U.S. stock market indices are weaker with the Dow 20 lower. The dollar index is 9 points lower. Interest rate products are firmer. Energies are weaker with crude down $0.40. Livestock trade is mixed with cattle leading. Precious metals are weaker with gold 6.30 lower. CORN Corn is narrowly mixed with trade trying to build on the solid close yesterday with two-sided trade so far. Weather should continue to remain a short-term non-issue as the crop tour wraps up today, with few surprises found so far. Ethanol margins remain poor with blenders in the best position currently, with more plants likely to be idled with rumors of the refinery waivers to be reversed. Basis remains mixed overall with harvest getting closer. Weekly export sales remain soft at 119,300 metric tons old crop, and 301,600 of new crop. On the September nearby chart support is likely the $3.59 low with the lower Bollinger Band at $3.47 below that with resistance the 10-day at $3.70. SOYBEANS Soybean trade is narrowly mixed with trade again trying to find some buying support at the lower end of the range and to finally put two positive finishes in a row together with early strength evaporating again. Meal is 0.50 to 1.50 higher, and oil is 5 to 15 points lower. Crush margins remain positive overall, with oil staying towards the upper end of the range. Basis remains flat overall. The Brazilian real is trying to firm off the lows again, with local prices an effective premium to much of the US. The weather looks to be a short-term non-issue for soybeans as well coming forward. The trade situation remains little changed as well. Weekly export sales showed some improvement at 25,900 metric tons of old crop, 792,600 metric tons of new crop, 118,600 metric tons of old meal, 13,400 of new meal, and 2,200 of oil. September chart support is the lower Bollinger Band at $8.42, with the next round up the 10-day $8.65 which we tested again today. WHEAT Wheat trade is 2 cents lower to 3 cents higher at midday with light buying with all contracts trying to shake off oversold conditions. The Kansas City/Chicago spread is at 75 after a high of 90 cents last week and a low of 71 cents this week with Kansas City gaining slightly overnight. The corn/HRW spread is wider, back to 27 cents. Kansas City wheat is now back to competitive on the world market trading as well as into feed rations. Spring wheat harvest should expand with winter wheat just about wrapped up, with Europe progressing as well. The dollar remains near the upper end of the range, limiting upside potential. Weekly export sales showed improvement at 594,600 metric tons. The September Kansas City chart support is the new low at 3.80 3/4 with the first resistance the 10-day at $3.91 which we are just below. 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 (CZ) Copyright 2019 DTN/The Progressive Farmer. All rights reserved.

August 22, 2019 Portland Price Trends 08-01-18 01-01-19 07-01-19 08-15-19 08-22-19 #1 SWW (bu) 6.05 6.15 6.00 5.85 5.75 White Club 6.05 6.15 6.00 5.85 5.75 DNS 14% 7.08 6.59 6.24 5.84 5.80 HRW 11.5% 6.89 6.39 5.59 5.08 5.23 #2 Corn (ton) 160.00 168.00 182.00 167.00 163.00 #2 Barley 140.00 140.00 140.00 140.00 140.00 Wheat..West coast wheat markets saw further drift this week against a weaker futures complex. Lower prices did improve export demand over the past week and hard red winter has seen basis strengthen 15 cents in spot delivery months over the past week. Weekly Sales...USDA reported an improved pace of export demand for U.S. wheat last week, coming in 20% above the four-week average to put overall sales at 383 mb; 22% ahead of a year ago but 1% behind the 5-year average pace. Top seller was hard red winter with 8.9 mb, putting sales at 148 mb, which is 64% ahead of a year ago and 14% ahead of average. Red spring saw 6.8 mb in new business to put sales at 103 mb, standing 7% ahead of a year ago but 12% behind average. Soft white garnered 2.4 mb and with 67 mb sets 17% behind a year ago and 14% below average. Top Buyers...Mexico registered as top buyer for the week with 4.2 mb in purchases, followed by Guatemala and Thailand with 2.2 mb each. Rounding out the top five were Peru with 1.9 mb and Taiwan with 1.7 mb. -Norm Ruhoff Contributing Analyst Copyright 2019 DTN/Telvent. All Rights Reserved.

DTN Weather Trend Indicators 08/22 09:09 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 (ES)

USDA Daily Market Rates 08/22 06:48 DAILY MARKET RATES(GRAIN/MISCELLANEOUS COMMODITIES) Effective: August 22, 2019 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.) 08/22/2019 COMMODITIES Wheat (BU) Wheat (BU) Wheat (BU) Wheat (BU) MARKET HRW HRS SRW SWW AMA 3.76 */(17) CIN 4.63 */(37) EVN 4.58 */(38) GLF 5.11 */(18) */(19) 5.23 */(39) */(20) */(21) KCM 4.81 */(23) 4.63 */(40) MEM 4.63 */(41) MIN 4.76 */(24) */(25) 5.67 */(15) PNW 5.06 */(26) 5.66 */(16) 5.75 */(43) */(44) TOL 4.88 */(42) 4.88 */(45) WCD 5.06 */(27) */(28) 5.60 */(46) THE FOLLOWING MARKET RATES ARE EFFECTIVE 7:00 A.M. (E.T.) 08/22/2019 COMMODITIES Wheat (BU) Corn (BU) Barley (BU) MARKET HAD YC BRL AMA 4.03 */(47) CIN 3.98 */(48) GLF 3.93 */(49) */(50) 3.44 */(1) KCM 3.78 */(51) 3.09 */(2) LOS 6.65 */(11) */C MEM 3.51 */(52) MIN 6.30 */(12) */B 3.14 */(53) 2.89 */(3) */(4) */(5) PNW 6.30 */(13) */A 4.53 */(54) */(55) 3.53 */(6) */(7) TKO 3.91 */(56) */(57) TOL 4.03 */(58) WCD 6.70 */(14) */D 4.96 */(59) 4.96 */(8) */(9) */(10) DURUM DISCOUNTS */A PNW DISCOUNT ($-0.95) FOR AMBER DURUM AND ($-1.20) FOR DURUM */B MIN DISCOUNT ($-0.95) FOR AMBER DURUM AND ($-1.20) FOR DURUM */C LOS DISCOUNT ($-0.55) FOR AMBER DURUM AND ($-0.80) FOR DURUM */D WCD DISCOUNT ($-0.55) FOR AMBER DURUM AND ($-0.80) FOR DURUM THE FOLLOWING MARKET RATES ARE EFFECTIVE 7:00 A.M. (E.T.) 08/22/2019 COMMODITIES Oats (BU) Soybeans (BU) Grain Sorghum (CWT) MARKET OAT YSB SOR CIN 8.63 */(60) 6.09 */(31) GLF 9.06 */(61) */(62) 7.01 */(32) */(63) */(64) KCM 8.33 */(66) MEM 8.56 */(67) 5.63 */(33) MIN 3.22 */(29) 8.15 */(68) */(69) NCD 5.83 */(34) PNW 3.47 */(30) 9.23 */(70) SCD 6.21 */(35) TKO 8.58 */(71) TOL 8.53 */(72) WCD 8.67 */(36) COMMODITIES YC - Yellow Corn YSB - Yellow Soybeans SOR - Sorghum HRW - Hard Red Winter SRW - Soft Red Winter SWW - Soft White Wheat HRS - Hard Red Spring HAD - Durum OAT - Oats BRL - Barley MARKET REGIONS MIN - Minnesota Marketing Area PNW - Pacific Northwest TKO - Decatur, IL CIN - Cincinnati, OH AMA - Amarillo, TX TOL - Toledo, OH WCD - West Coast Domestic KCM - Kansas City Marketing Area MEM - Memphis, TN GLF - Gulf Marketing Area SCD - South Central Domestic NCD - North Central Domestic EVN - Evansville, IN LOS - Los Angeles, CA ****NOTE CHANGES TO DIFFERENTIAL INFORMATION EFFECTIVE 08/22/2019 ***** 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 0.14 cents/bu (Effective 8/22/2019) (2) KCM BRL differentials add 0.14 cents/bu (Effective 8/22/2019) (3) MIN BRL differentials in WY add -0.02 cents/bu (Effective 7/31/2017) (4) MIN BRL differentials in MT add 0.04 cents/bu (Effective 8/28/2017) (5) MIN BRL differentials add 0.28 cents/bu (Effective 8/22/2019) (6) PNW BRL differentials in MT add -0.06 cents/bu (Effective 2/15/2013) (7) PNW BRL differentials add 0.15 cents/bu (Effective 8/16/2019) (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 -0.75 cents/bu (Effective 8/16/2019) (11) LOS HAD differentials add -0.40 cents/bu (Effective 6/13/2018) (12) MIN HAD differentials add -0.58 cents/bu (Effective 6/13/2018) (13) PNW HAD differentials add -0.20 cents/bu (Effective 6/13/2018) (14) WCD HAD differentials add -0.40 cents/bu (Effective 6/13/2018) (15) MIN HRS differentials add -0.77 cents/bu (Effective 8/20/2019) (16) PNW HRS differentials add -0.47 cents/bu (Effective 8/19/2019) (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 CO add -0.05 cents/bu (Effective 7/17/2018) (20) GLF HRW differentials in NE add -0.05 cents/bu (Effective 7/17/2018) (21) GLF HRW differentials in OK add 0.00 cents/bu (Effective 7/17/2018) (22) GLF HRW differentials add -0.62 cents/bu (Effective 7/2/2019) (23) KCM HRW differentials add -0.95 cents/bu (Effective 7/18/2019) (24) MIN HRW differentials in SD add 0.00 cents/bu (Effective 9/21/2017) (25) MIN HRW differentials add -0.67 cents/bu (Effective 7/3/2019) (26) PNW HRW differentials add -0.70 cents/bu (Effective 7/29/2019) (27) WCD HRW differentials in CA add 0.03 cents/bu (Effective 8/22/2016) (28) WCD HRW differentials add -0.97 cents/bu (Effective 7/29/2019) (29) MIN OAT differentials add -0.30 cents/bu (Effective 8/19/2019) (30) PNW OAT differentials add -0.47 cents/bu (Effective 7/1/2019) (31) CIN SOR differentials add -0.43 cents/cwt (Effective 8/8/2019) (32) GLF SOR differentials add -0.86 cents/cwt (Effective 8/22/2019) (33) MEM SOR differentials add 0.00 cents/cwt (Effective 3/26/2019) (34) NCD SOR differentials add -0.25 cents/cwt (Effective 8/19/2019) (35) SCD SOR differentials add -0.28 cents/cwt (Effective 8/19/2019) (36) WCD SOR differentials add -1.74 cents/cwt (Effective 7/29/2019) (37) CIN SRW differentials add -0.05 cents/bu (Effective 8/15/2019) (38) EVN SRW differentials add 0.09 cents/bu (Effective 8/12/2019) (39) GLF SRW differentials add -0.36 cents/bu (Effective 8/8/2019) (40) KCM SRW differentials add 0.05 cents/bu (Effective 8/12/2019) (41) MEM SRW differentials add -0.25 cents/bu (Effective 7/16/2019) (42) TOL SRW differentials add -0.35 cents/bu (Effective 7/11/2019) (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 -0.10 cents/bu (Effective 8/5/2019) (46) WCD SWW differentials add -0.27 cents/bu (Effective 6/15/2016) (47) AMA YC differentials add -0.10 cents/bu (Effective 7/23/2019) (48) CIN YC differentials add -0.31 cents/bu (Effective 8/15/2019) (49) GLF YC differentials in MN add 0.00 cents/bu (Effective 8/2/2019) (50) GLF YC differentials add 0.03 cents/bu (Effective 8/22/2019) (51) KCM YC differentials add -0.14 cents/bu (Effective 7/2/2019) (52) MEM YC differentials add -0.13 cents/bu (Effective 7/23/2019) (53) MIN YC differentials add 0.00 cents/bu (Effective 11/20/2018) (54) PNW YC differentials in ND add -0.02 cents/bu (Effective 2/27/2017) (55) PNW YC differentials add -0.34 cents/bu (Effective 8/8/2019) (56) TKO YC differentials in WI add -0.03 cents/bu (Effective 4/3/2018) (57) TKO YC differentials add -0.19 cents/bu (Effective 7/30/2019) (58) TOL YC differentials add -0.38 cents/bu (Effective 7/9/2019) (59) WCD YC differentials add -0.80 cents/bu (Effective 6/18/2019) (60) CIN YSB differentials add -0.38 cents/bu (Effective 8/20/2019) (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 -0.55 cents/bu (Effective 8/22/2019) (66) KCM YSB differentials add -0.18 cents/bu (Effective 8/12/2019) (67) MEM YSB differentials add -0.26 cents/bu (Effective 8/20/2019) (68) MIN YSB differentials in WI add 0.10 cents/bu (Effective 6/13/2019) (69) MIN YSB differentials add -0.20 cents/bu (Effective 8/20/2019) (70) PNW YSB differentials add -0.65 cents/bu (Effective 8/22/2019) (71) TKO YSB differentials add -0.33 cents/bu (Effective 8/20/2019) (72) TOL YSB differentials add -0.46 cents/bu (Effective 8/5/2019) MINOR OILSEEDS THE FOLLOWING MARKET RATES ARE EFFECTIVE 7:00 A.M. (ET) 08/22/2019 ALL PRICES PER CWT. MARKET CAN CRA RAP FLX MUS SAF SEM SUN ARL 12.85 AUG 12.85 CAR 13.51 COL 19.00 COR 19.00 FAR 16.61 18.53 GFK 25.00 GLD 17.55 GRF 22.00 16.96 25.00 PAR 20.00 RDW 14.05 16.96 RIC 19.00 VEL 14.20 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) 08/22/2019. ALL PRICES PER CWT. MARKET CHL CHK LEN PEA USP 16.75 11.75 14.80 9.00 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 MARKET GAIN/LOAN DEFICIENCY PAY RATE (LDP) Effective 12:01 a.m. Eastern Time, Friday, 08/16/19, through midnight Eastern Time, Thursday, 08/22/19: AWP = 52.22 cents per pound FCA 2018 crop = 0.17 cents per pound FCA 2019 crop = 0.02 cents per pound CCA = 0.00 cents per pound LDP Rate = 0.00 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, 08/22/19. The following world prices of rice are effective from 08/21/19 at 7:00 am eastern time until the next announcement occurs. The next price announcement is scheduled for 08/28/19 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 _____________________________________________________________________ . 2018 CROP . World Loan Market World Loan . Market Gain and Price Rate . Index LDP Rate ----Cents/Pound---- . ---$/Hundredweight--- . Long 13.75 10.08 . 12.35 0.00 Med/Short 13.24 9.67 . 12.13 0.00 Broken 8.29 6.14 . na na _____________________________________________________________________ . 2019 CROP . World Loan Market World Loan . Market Gain and Price Rate . Index LDP Rate ----Cents/Pound---- . ---$/Hundredweight--- . Long 14.40 11.09 . 13.28 0.00 Med/Short 14.06 10.50 . 12.92 0.00 Broken 8.69 6.11 . na na _____________________________________________________________________ The above prices are based on the following loan rates, world prices and milling yields per hundredweight of rough rice: 2018 CROP Loan Rate World Price . Whole/Broken Yield ------ $/Cwt ------ . (Pounds/Cwt) . Long 6.26 8.53 . 53.56/14.05 Med/Short 6.68 9.14 . 64.00/8.00 2019 CROP Loan Rate World Price . Whole/Broken Yield ------ $/Cwt ------ . (Pounds/Cwt) . Long 7.00 9.19 . 55.55/13.69 Med/Short 7.00 9.42 . 61.11/9.51

DTN Early Word Grains 08/22 05:57 Grains Slightly Higher as Rain Falls December corn is up 1/2 cent, November soybeans are up 1 cent and December KC wheat is up 1 3/4 cents. By Todd Hultman DTN Lead Analyst 6:00 a.m. CME Globex: December corn is up 1/2 cent, November soybeans are up 1 cent and December KC wheat is up 1 3/4 cents. CME Globex Recap: U.S. stock futures and European stock markets are lower early Thursday with China still talking about retaliating to new U.S. tariffs, set to take place on September 1. Wednesday's minutes from the latest Fed meeting showed two members dissented, favoring no rate cut on July 31. Outside of grains, most commodities are trading higher early Thursday. OUTSIDE MARKETS: Previous closes Wednesday showed the Dow Jones Industrial Average up 240.29 at 26,202.73 and the S&P 500 up 23.92 at 2,924.43 while the 10-Year Treasury yield ended at 1.58%. Early Thursday, the September DJIA futures are down 42 points. Asian markets are higher with Japan's Nikkei 225 up 13.16 (0.06%) and China's Shanghai Composite up 8.03 points (0.29%). European markets are modestly lower with London's FTSE 100 down 48.60 points (-0.67%), Germany's DAX down 38.50 points (-0.33%) and France's CAC 40 down 28.99 points (-0.53%). The September euro is down $.001 at $1.11. The September U.S. dollar index is up 0.04 at 98.22. The September 30-year T-bond is down 2/32nds, while December gold is down $8.00 at $1,507.70 and October crude oil is up $0.38 at $56.06. Soybeans are slightly lower and meal is modestly higher on China's Dalian Exchange. November palm oil is up 2.1% at a new five-month high.

Cotton AWP/LDP 08/16 12:09 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 2018 2019 CCA LDP Date Price Price Price Adj | Price Crop** Crop** 08/16/19 71.50 69.47 68.15 17.25 | 52.22 0.17 0.02 0.00 0.00 08/09/19 71.97 69.92 N/A 17.25 | 52.67 0.15 0.00 0.00 0.00 08/02/19 76.66 74.20 69.98 17.24 | 56.96 0.00 0.00 0.00 0.00 07/26/19 75.88 73.31 68.89 17.24 | 56.07 0.00 0.00 0.00 0.00 07/19/19 75.67 73.05 68.72 17.24 | 55.81 0.00 0.00 0.00 0.00 **Fine Count Adjustment cannot be less than zero. NA = not available.

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