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Newly formed Grain Farmers of Ontario focused on the future at inaugural March conference

GUELPH, ON (March 15, 2010) – Grain Farmers from across Ontario gathered in London Ontario on March 8th and 9th for the inaugural conference of the Grain Farmers of Ontario (GFO).  Farmers met to discuss mutual issues of importance, debate policy resolutions and hear from keynote speakers on topics related to the future of farming.

For the immediate future, the direction from delegates through 4 separate resolutions, is to pursue a permanent, fully funded Risk Management Program in Ontario supported by both levels of government.  The Ontario Minister of Agriculture, Carol Mitchell, spoke at the banquet Monday night supporting our endeavors by recognizing the current suite of business risk management are not meeting the needs of producers and that she is carrying that message to her colleagues at the provincial Cabinet table and has carried it to the federal Minister of Agriculture on behalf of Ontario farmers.

The urgency for stability in the agricultural sector through programs like the RMP was underscored when keynote speakers Diane Francis, Editor-at-Large for the National Post and Jay Ingram, Host of Discovery Channel’s Daily Planet, forecasted uncertainty ahead both for the world economy and the environment.  Cal Whewell, financial expert for FC Stone also has concerns about the future including commodity prices and the Canadian dollar.  When asked about the Canadian dollar Cal advised, “if you’re in the camp of $85 plus or $100 crude oil then you probably better prepare yourself for a par Canadian dollar”.

Despite the broad challenges identified for the year ahead, Grain Farmers of Ontario is excited about the opportunities for farmers especially in the areas of research and market development.  Barry Senft outlined some of GFO’s plans for 2010 including an investment of over $3.6 million in grain research through industry, government and farm partnerships and recent collaborations with industry to expand the domestic market opportunities for ethanol, wheat and soy-based bio-products.

Don Kenny, Chair of GFO, is positive about his first conference experience as Chair saying, “the real value of the conference was the guidance we received from our delegates and the conversations we will continue to have with our members as a result of the learning from today.”

All of the information from the conference including speaker presentations and resolutions are available on our website at www.gfo.ca and click on March Conference under Events.  

Grain Farmers of Ontario

Grain Farmers of Ontario is the province’s largest commodity organization, representing Ontario’s 28,000 corn, soybean and wheat farmers. The crops they grow cover 6 million acres of farm land across the province, generate over $2.5 billion in farm gate receipts, result in over $9 billion in economic output and are responsible for over 40,000 jobs in the province.

Contact:

Barry Senft, CEO - 1-800-265-0550; bsenft@gfo.ca

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Grain Market Commentary for October 12, 2017

Thursday, October 12, 2017

Commodity Period Price Weekly Movement
Corn CBOT December 3.49  06 cents
Soybeans CBOT November 9.92  34 cents
Wheat CBOT December 4.30  12 cents
Wheat Minn. December 6.12  02 cents
Wheat Kansas December 4.26  10 cents
Chicago Oats December 2.62  16 cents
Canadian $ December 0.8030  0.15 points

Harvest 2017 prices as of the close, October 12 are as follows: SWW @ $183.52/MT ($4.99/bu), HRW @ $192.67/MT ($5.24/bu), HRS @ $238.89/MT ($6.50/bu), SRW @ $188.09/MT ($5.12/bu).

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Market Trends Report for October-November 2017

Monday, October 16, 2017

It is that time of year again when combines are rolling. However, uneven weather in parts of the American corn belt and Ontario has delayed harvest. There is nothing particularly unusual about this as we have it every year. US crops are huge coming off the fields and the market will certainly be making further adjustments. The final determinant on yield will come in the January USDA report. However, the October USDA report released October 12th helped to re-focus the trajectory of grain prices as we head into the end of the 2017.

In the October 12th report USDA increased US national corn yield to 171.8 bushels per acre, an increase of 1.9 bushels per acre over their September estimate. This put 2017/2018-corn production at 14.28 billion bushels on the high-end of pre-report estimates. The USDA also pegged corn-ending stocks at 2.34 billion bushels, which was up 5 million bushels from their September estimate. This number was a bit of a surprise especially with which dry weather throughout the American Midwest the summer.

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USDA estimated soybean production to be at 4.431 billion bushels, which was a decrease from their September estimate. This was based on a .4 bushel/acre cut in US national yield down to 49.5 bushels per acre. However, the US soybean harvested acreage is at a record high of 89.5 million acres, which was up 1% from the USDA September estimate. The US domestic soybean ending stocks were also pegged at 430 million bushels, which was down 45 million bushels from their September estimate. This was generally looked at as bullish on report day and soybeans responded by going up $.26 a bushel. US domestic wheat stocks were set at 960 million bushels, which was 27 million bushels higher than their September estimate.

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