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Deferred payments now permitted under the grains act

GUELPH, ON (December 17, 2010) – The Ontario Agri Business Association (OABA) and Grain Farmers of Ontario (GFO) are pleased with the recent changes that OMAFRA has made to the deferred payment regulations that are effective immediately.  As a result of this regulatory change, it is “business as usual” in producer/elevator arrangements regarding deferred payments. This change in regulations provides relief from the “non compliance” status of deferred payment arrangements between elevators and producers through until July 1, 2012.

Elevators and producers entering into deferred payment arrangements will not be subject to compliance or enforcement activities by Agricorp.  However, other provisions of the Grains Act will continue to be enforced.  It is important to note that any deferred payment arrangements entered into going forward between a producer and elevator should not have a settlement date that extends beyond July 1, 2012.

OABA and GFO would like to thank the Minister of Agriculture, Food and Rural Affairs, Carol Mitchell, for her swift action in making the necessary regulatory change to facilitate deferred payments until a permanent solution is reached.

This regulatory change is a result of OABA’s and GFO’s shared success in raising the importance of this issue within OMAFRA and Agricorp, resulting in productive meetings and this short term resolution.  Early in 2011, representatives from OABA and GFO will meet with Agricorp and OMAFRA again to develop a strategy for addressing this important business practice within the Grains Act with the intent to have this situation permanently resolved well in advance of the July 1, 2012 deadline. 

For more information, farmers are encouraged to contact Member Relations at GFO, Valerie Gilvesy (226-979-5581).  Elevator operators/dealers should contact OABA (519-822-3004) for more information.

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 May 31, 2017

Wednesday, May 31, 2017

May 31, 2017

Commodity Period Price Weekly Movement
Corn CBOT July 3.71  01 cents
Soybeans CBOT July 9.26  22 cents
Wheat CBOT July 4.30  02 cents
Wheat Minn. July 5.72  11 cents
Wheat Kansas July 4.31  01 cents
Chicago Oats July 2.48  10 cents
Canadian $ June 0.7402  0.45 points

Harvest 2017 crop cash prices as of close on May 31, 2017
SWW @ $198.22/MT ($5.39/bu), HRW @ $198.22/MT ($5.39/bu),
HRS @ $233.70/MT ($6.36/bu), SRW @ $198.22/MT ($5.39/bu).

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Market Trends Report for June-July 2017

Monday, June 12, 2017

It is a critical time of the year for grain markets. Across the US corn belt as well as Ontario, farmers have been planting since mid April. It continues. As of May 28th 91% of US corn has been planted and 67% of US soybeans. There are wide variations on this theme as the Eastern and Southern corn belt has seen more of its share of wet weather causing many planting delays. As we move into late June it is a time where the US crop is setting up to be made and marketing decisions for that crop are accentuated by market volatility. The June 9th USDA report gave us another indication of the supply of grain in the US and around the world.

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