Weekly Crop Market Review - January 21, 2011

WINNIPEG FUTURES (CDN $/TONNE) as of Jan 21/2011
              CONTRACT --------------------WEEKLY----------------
               MONTH       HIGH        LOW      CLOSE     CHANGE
BARLEY  -LETH  MAR11        N/A        N/A     194.00      +0.00
        -LETH  MAY11        N/A        N/A     200.00      +6.00
        -LETH  JUL11        N/A        N/A     200.00      +6.00
CANOLA  -SASK  MAR11     608.60     589.00     601.60      +8.90
        -SASK  MAY11     616.20     597.70     609.80      +9.60
        -SASK  JUL11     619.10     602.00     613.70     +10.50

U.S. FUTURES (U.S. $/BUSHEL) as of Jan 21/2011
              CONTRACT --------------------WEEKLY----------------
               MONTH       HIGH        LOW      CLOSE     CHANGE
WHEAT   -CBT   MAR11   8.29 1/2   7.82 3/4   8.24 1/2  +0.51 1/4
        -CBT   MAY11   8.51       8.21 1/2   8.50 1/4  +0.47 1/4
WHEAT   -MINN  MAR11   9.44 1/2   8.90       9.37 1/4  +0.47
        -MINN  MAY11   9.52 1/4   8.99 1/4   9.43      +0.43 3/4
WHEAT   -KANS  MAR11   9.07 3/4   8.65       9.00      +0.40
        -KANS  MAY11   9.18 1/2   8.76       9.10      +0.39 1/4
CORN    -CBT   MAR11   6.67       6.28       6.57 1/4  +0.08 1/2
        -CBT   MAY11   6.75       6.39       6.67      +0.09
OATS    -CBT   MAR11   4.02       3.76       3.86      -0.06
        -CBT   MAY11   4.07 1/4   3.89 3/4   3.94      -0.04 1/2
SOYBEAN -CBT   MAR11  14.29      13.88      14.12 1/4  -0.10 1/4
        -CBT   MAY11  14.38 1/2  13.98      14.22 3/4  -0.08 1/2
        -CBT   JUL11  14.43      14.09      14.30      -0.04 3/4
SOYOIL  -CBT   MAR11      58.05      56.10      57.56      +0.29
(¢/lb)  -CBT   MAY11      58.50      56.65      58.00      +0.24
SOYMEAL -CBT   MAR11     387.00     376.50     379.60      -8.50
($/ton) -CBT   MAY11     389.20     379.50     382.50      -7.90

FEEDMILL BIDS on Jan 17/2011 (Different Delivery Points)
                       THIS WEEK         LAST WEEK
WHEAT -LETH           190.00-197.00    186.00-194.00
      -REDDEER        190.00-195.00    184.00-194.00
      -EDMTN          176.37-199.00    169.02-199.00
OATS  -EDMTN          129.68-176.00    129.68-175.00
PEAS - EDMTN          200.00-202.09    200.00-220.46
BARLEY-LETH           185.00-192.00    180.00-190.00
      -MH/BRKS        184.00-190.00    183.72-190.00
      -CALGARY        180.00-190.00    178.00-190.00
      -REDDEER        180.00-185.00    178.00-184.00
      -VERM           156.16-160.76    156.16-160.76
      -EDMTN          160.76-190.00    160.76-190.00
      -GRANDEP             N/A         167.64-172.24
CANOLA CRUSHER on Jan 19/2011
      -Meal (FOB)        285.57           282.00
      -Seed (DEL)        574.70           569.60

ELEVATOR BIDS on Jan 21/2011 (Delivered)
                        THIS WEEK        LAST WEEK
FEED WHEAT -Red Deer     172.42           161.77
FEED OATS  -Red Deer     182.67             N/A
FEED BARLEY-Red Deer     157.34           156.42
RYE        -Red Deer       N/A              N/A
FLAXSEED   -Brooks       547.61           547.61
CANOLA     -Red Deer     569.28           556.06

SPECIAL CROP CASH BIDS on Jan 20/2011
                                                    Year Ago
 Basis delivered plant           $/Tonne  $/Bushel  $/Bushel
 PEA GREEN #2 OR BETTER           270.98      7.37      7.06
     FEED                         210.54      5.73      4.06
     LARGE YELLOW #2 OR BETTER    259.60      7.07      5.76
                                              $/Lb      $/Lb
 LENTILS #1 LAIRD                 810.63      0.37      0.37
         #1 ESTON                 660.06      0.30      0.31
 MUSTARD #1 YELLOW                531.86      0.24      0.25
         #1 BROWN                 468.48      0.21      0.20
         #1 ORIENTAL              509.82      0.23      0.20

WORLD AND US CASH MARKETS (CAN $/TONNE) as of Jan 20/2011
                             THIS     LAST    AVG TO   LAST YR     PCT
                             WEEK     WEEK     DATE    AV PRICE    CHG
WHEAT -CWB #1CWRS ST LAW    442.60   423.10   383.89   287.43    +33.6%
      -CWB #1CWRS VANC*     432.11     N/A    391.35   280.41    +39.6%
      -#1DNS GREAT FALLS    333.77   302.04   300.85   192.41    +56.4%
      -#1DNS PORTLAND         N/A      N/A    314.92   230.15    +36.8%
CORN  -#2 CHICAGO           242.20   239.69   196.04   139.90    +40.1%
BARLEY-#2 PORTLAND            N/A      N/A      N/A      N/A      N/A
      -#2FD GREAT FALLS     179.16   176.65   155.20   110.33    +40.7%
      -#2 STOCKTON            N/A      N/A      N/A    185.36     N/A
SOYBNS-#1 ILLINOIS          510.45   508.31   447.99   384.67    +16.5%
EXCH RATE Jan 20/2011: US$ in CANADA$  .9971  CANADA$ IN US$ 1.0029
* #1CWRS VANCOUVER 13.5% PROTEIN

CANADIAN EXPORTS ('000 TONNES) as of Jan 16/2011
                    WEEK*  CROP YR   LAST YR       PCT    YR END
COMMODITY            #24   TO DATE   TO DATE       CHG  FORECAST
 WHEAT(EXC DUR)    241.5   5,324.6   6,189.6    -14.0%    -19.1%
 DURUM              56.9   1,785.4   1,512.0    +18.1%     -2.3%
 BARLEY             35.3     758.4     645.3    +17.5%    -10.3%
 OATS               21.9     599.4     439.5    +36.4%    -20.1%
 PEAS               65.3   1,226.5     726.2    +68.9%    +10.2%
 FLAXSEED             .7     180.7     208.4    -13.3%    -48.2%
 CANOLA             90.7   3,294.6   3,253.7     +1.3%    -15.8%

CANADIAN CANOLA CRUSH ('000 TONNES) as of Jan 21/2011
 CANOLA CRUSH      112.8   2,751.3   1,863.4    +47.6%    +29.5%

U.S. EXPORTS ('000 TONNES) as of Jan 13/2011
 WHEAT             588.7  19,068.7  14,022.7    +36.0%    +41.9%
 BARLEY               .2      97.6      65.0    +50.0%    +66.7%
 CORN              521.9  15,749.4  15,434.1     +2.0%     -1.9%
 SOYBEANS        1,175.2  24,135.7  23,132.5     +4.3%     +5.9%

NOPA SOYBEAN Month Ending: Nov 30/2010
 SOYBEAN CRUSH   4,051.5  11,584.1  11,509.4     +0.6%     -5.0%
* From Canadian Grain Commission Calendar