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Grain Farmers of Ontario launches online Risk Management Program calculator

GUELPH, ON (November 8, 2010) – Grain Farmers of Ontario is launching an online Risk Management Program calculator today at wwww.gfo.ca/rmp to coincide with the release of the 2010 pre-harvest payment information by Agricorp. 

The RMP calculator allows growers to measure how the program will assess their farm’s 2010 production, under a range of price scenarios.  Growers can enter their individual acreage and crop mix into the calculator and change the coverage levels to determine the best possible outcome.

“The goal of RMP has always been predictability and bankability and GFO wants to ensure that aspect of the program is fulfilled in a comprehensive and accessible format,” says Erin Fletcher, Manager, Public Affairs and Communications for GFO.

The calculator will also allow growers to enter an expected post-harvest price to run potential post-harvest scenarios.  The post-harvest prices for corn and soybeans are the daily average for Chatham delivery from October 2010 through to March 2011. The winter wheat post-harvest price is calculated from July to December 2010 using a weighted average daily price from a range of buyers, including GFO (wheat board), terminals, and elevators. 

Grain Farmers of Ontario is optimistic about the future of the Risk Management Program in Ontario.  Participation is a key factor in the evaluation of the program and also may determine future eligibility for growers.  RMP was always intended to be an insurance type program to be invested in for the long term and GFO hopes this will continue to be a consideration for those determining their participation in 2010.

The RMP calculator is available on the GFO website at www.gfo.ca/rmp. Additional information about RMP can be obtained from Agricorp online at www.agricorp.com or by phone at 1-888-247-4999.

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 September 20, 2017

Wednesday, September 20, 2017

Commodity Period Price Weekly Movement
Corn CBOT December 3.50  01 cents
Soybeans CBOT November 9.70  11 cents
Wheat CBOT December 4.50  07 cents
Wheat Minn. December 6.22  12 cents
Wheat Kansas December 4.48  05 cents
Chicago Oats December 2.46  08 cents
Canadian $ December 0.8115  0.75 points

Harvest 2017 prices as of the close, September 20 are as follows:
SWW @ $190.53/MT ($5.19/bu), HRW @ $199.60/MT ($5.43/bu),
HRS @ $241.11/MT ($6.56/bu), SRW @ $195.06/MT ($5.31/bu).

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Market Trends Report for September-October 2017

Monday, September 18, 2017

US and World

Across the US corn belt American farmers are starting to harvest another huge crop. The growing season was uneven with widespread drought in the Northwest plains and quite a wet start in the Eastern corn belt. This was accentuated by somewhat dry conditions in mid-summer, but it looks like good genetics and modern farming methods have won out. As we careen into October, US farmers are set to harvest their third-largest corn crop and the largest soybean crop ever.

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On September 12th the USDA released their latest estimates of US crops. USDA estimated US corn production would come in at 14.184 billion bushels, with an average yield of 169.9 bushels per acre. This was seen as a bit of a shock to the market as traders were expecting lower yield estimates. The USDA also increased 2017/18 ending stocks to 2.335 billion bushels, up 62 million from their August report. This US crop is approximately 6% less than last year with the yield 4.7 bushels per acre lower.

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