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Biofuels regulations great news for Ontario's grain farmers

GUELPH, ON (February 11, 2011)  – The commitment from the government to move forward with the regulations for two percent renewable fuel content in diesel fuel is great news for Ontario’s grain farmers.

This two percent mandate will mean a demand for 500 million litres per year of bio-diesel across Canada that will boost local demand and strengthen prices for soybean and canola farmers.  This will mean more marketing options for our farmers and more jobs for Canadians – a true win-win.

“A conservative estimate of the ethanol industry’s impact on local corn prices is an increase of $0.10 to $0.25 per bushel, depending on the year and location of the farm,” said Don Kenny, chair of Grain Farmers of Ontario at the announcement in Hamilton.  “It will be a similar story for soybeans as a result of bio-diesel production.”

Farmers are not the only ones who will benefit from higher grain values as a result of the growth of the biofuels industry.  Income stability for Ontario’s grain farmers becomes money spent in our rural communities.  It also means a stronger, more sustainable provincial economy where 40,000 jobs in the supply chain depend on our production of grain.

A national investment in biodiesel production is not just an economic win for the country, but also has a significantly positive impact on the environment.  The production of crops for biodiesel can reduce our greenhouse gas emissions by 99 percent compared to fossil fuels.

“Thank you to the Canadian government for the implementation of a Renewable Fuels Strategy that will truly benefit our farmers, our rural communities and all Canadians,” summarized Kenny.

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.

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Grain Market Commentary for January 17, 2018

Wednesday, January 17, 2018

Grain Farmers of Ontario farmer-members are invited to attend two full-day marketing seminars on grain marketing: Intro to Futures & Options, as well as the more advanced Options & Technical Analysis.

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Commodity Period Price Weekly Movement
Corn CBOT March 3.53  04 cents
Soybeans CBOT March 9.69  15 cents
Wheat CBOT March 4.21  13 cents
Wheat Minn. March 6.12  22 cents
Wheat Kansas March 4.27  13 cents
Chicago Oats March 2.54  09 cents
Canadian $ March 0.8060  0.80 points

Cash Grain prices as of the close, January 17, are as follows: SWW @ $176.58/MT ($4.81/bu), HRW @ $181.14/MT ($4.93/bu), HRS @ $231.22/MT ($6.29/bu), SRW @ $176.58/MT ($4.81/bu).

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Market Trends Report for January-February 2018

Monday, January 15, 2018

US and World

Winter weather blows across North American farm country as another year has gone and we greet 2018. The 2017 growing season was very uneven across North America, but memories of that are fading. Grain prices have suffered under the specter of big crop numbers that have been projected by both the USDA and private analysts throughout 2017. The January USDA report is always the final report on the crop year that past. On January 12th the USDA released a plethora of crop numbers, which will define the grain marketplace for the coming year.

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On January 12th, the USDA increased 2017 US corn production to 14.6 billion bushels, on a harvested acreage of 82.7 million acres. The average yield was increased to 176.6 bushels per acre, which was 2 bushels above the 2016/17 crop. 2017/18 corn ending stocks were raised to 2.48 billion bushels. Total corn usage was actually reduced to 14.470 billion bushels, down from 14.485 last month. US exports are down and US ethanol corn usage was down from December. Corn stored on December 1 was 12.516 billion bushels, which was above trade expectations.

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