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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 August 16, 2017

Wednesday, August 16, 2017

Commodity Period Price Weekly Movement
Corn CBOT September 3.52  20 cents
Soybeans CBOT November 9.25  53 cents
Wheat CBOT September 4.20  44 cents
Wheat Minn. September 6.73  60 cents
Wheat Kansas September 4.20  24 cents
Chicago Oats September 2.60  10 cents
Canadian $ September 0.7898  0.15 points

Harvest 2017 prices as of the close, August 16 are as follows:
SWW @ $182.43/MT ($4.96/bu), HRW @ $189.46/MT ($5.16/bu),
HRS @ $254.49/MT ($6.93/bu), SRW @ $187.11/MT ($5.09/bu).

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Market Trends Report for August-September 2017

Monday, August 14, 2017

US and World

It has been an uneven growing season in much of the American corn belt. The Western corn belt has been dry especially in the Dakotas, while the mid south and Eastern corn belt were inundated with heavy rains earlier in the spring. The forecast in late July turned cooler and wetter for all of the American corn belt. This new forecast essentially changed much of the outlook for the American crop, but still many analysts were expecting lower August USDA numbers reflecting some of the earlier tough conditions for US corn and soybeans. Anticipation of the August 10th USDA report was filled with expectations of lower yield projections.

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On August 10th, the USDA lowered their projected corn yield estimate to 169.5 bushels per acre down from their earlier projection of 170.7 bushels per acre and less than last year's 174.6 bushels per acre. At the same time the USDA raised soybean yield expectations to 49.4 bushels per acre up from their 48 bushels per acre earlier estimate. This pegged 2017/18-soybean production at 4.4 billion bushels. Both of these USDA estimates rocked the grain market August 10th, as it was a big surprise. With so much uneven weather affecting this crop in the field a US corn yield of 165-166 bushels per acre was a general trade estimate. Futures prices plummeted on this very bearish report.

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