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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 December 6, 2017

Wednesday, December 06, 2017

Commodity Period Price Weekly Movement
Corn CBOT March 3.52  01 cents
Soybeans CBOT January 10.03  10 cents
Wheat CBOT March 4.25  10 cents
Wheat Minn. March 6.14  09 cents
Wheat Kansas March 4.23  06 cents
Chicago Oats March 2.48  15 cents
Canadian $ December 0.7835  0.50 points

Cash Grain prices as of the close, December 6, are as follows: SWW @ $178.23/MT ($4.85/bu), HRW @ $187.61/MT ($5.11/bu), HRS @ $238.74/MT ($6.50/bu), SRW @ $182.92/MT ($4.98/bu).

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Market Trends Report for November-December 2017

Monday, November 13, 2017

US and World

Harvest time is in full swing across United States and Ontario. There have been delays, but as usual, farmers in 2017 like they have many times before are finding ways to get the crop in the bin. Yield monitors flickering on social media have been a harbinger of big yields in the United States as one of the biggest crops in American history gets closer to the finish line. How big that crop has become has been a great subject of debate over the last several months.

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On November 9th USDA chimed in with their latest crop production report. In a surprise move, which shocked the market the USDA raised 2017/2018-corn production to 14.58 billion bushels. This was on a projected yield of 175.4 bushels per acre, which was up from its October estimate of 171.8 bushels per acre. This was outside any pre-report estimates on the high side and the market responded accordingly by falling seven cents on the day. If this yield comes to fruition, it will be the largest US domestic corn yield in history. US domestic corn stocks are projected to increase to 2.49 billion bushels, a very onerous figure headed into next year.

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