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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 July 19, 2017

Wednesday, July 19, 2017

Commodity Period Price Weekly Movement
Corn CBOT September 3.82  03 cents
Soybeans CBOT November 10.12  25 cents
Wheat CBOT September 5.03  32 cents
Wheat Minn. September 7.75  06 cents
Wheat Kansas September 5.00  44 cents
Chicago Oats September 2.93  11 cents
Canadian $ September 0.7950  1.00 points

Harvest 2017 prices as of the close, July 19 are as follows:
SWW @ $218.72/MT ($5.95/bu), HRW @ $218.72/MT ($5.95/bu),
HRS @ $289.01/MT ($7.87/bu), SRW @ $217.90/MT ($5.93/bu).

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Special Post June 30 USDA Market Trends Report

Tuesday, July 04, 2017

US and the World

It can be an explosive time in the grain markets. Across the greater US corn belt corn, soybeans and wheat are showing great variability as we head into July. Historically, the July 4th weekend has always served as a market flashpoint as crops start to develop quickly and summer weather makes its impact. The June 30th USDA planted acreage estimates and quarterly stocks report also impact the market at this critical time. In 2017, we are here again and once again the USDA did provide some surprises for market action.

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In their June 30th USDA report many market observers were musing that US soybean acres may overtake US corn acres planted. However, that was not the case as USDA predicted US corn planting at 90.89 million acres and US soybean planting coming in at 89.51 million acres. US corn acreage is down 3.11 million acres from last year. The US soybean acreage was approximately 440,000 acres below pre report estimates, but still 7% higher than last year. All wheat acreage came in at approximately 45.66 million acres, which was the lowest since the USDA began keeping records in 1919.

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