Ms Reynolds' mud-smeared body was discovered, lying on her back, by a man cycling to work at a nearby service station. She was clearly visible and had been wearing black jeans, a T-shirt and jacket. She was not wearing shoes.
She had last been seen, walking her dog, about 7pm on Tuesday night.
Her body was found in the metre-deep ditch, which had a small amount of water in it, about 200m north of the Rogers Rd turn-off.
Shocked by what he had seen, the man went to The Orchard Shop, about 50m away, and called police.
One staff member said the man was clearly shaken.
After police arrived a short time later he was seen, visibly upset, being spoken to and comforted by a police officer.
One long-time Bay View local said word had quickly got around about what had happened and he said it soon became clear who the victim was. "I used to see her around - she was often out walking her dog. She sort of kept herself to herself.''
The man said he understood Ms Reynolds was separated and had two teenage children, a daughter and a son.
While police were not speculating on how she had died or come to be in the ditch, the local said walking and cycling along the stretch could be hazardous when large truck and trailer units went by.
"The wash from the wind of them passing could blow you into the ditch,'' he said.
"Everyone feels pretty bad about this and I feel sorry for the kids. It's very sad.''
Police cordoned off about 300m of roadside to keep pedestrians and cyclists away from the immediate area but traffic was allowed through.
As well as the site of the body, police also cordoned off an area, including a house, about 80m south.
Police would not speculate on whether Ms Reynolds had been a victim of a hit-and-run.
They have appealed for any sightings of her, walking the dog (which had not been found) on Tuesday evening.
