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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 June 21, 2017

Wednesday, June 21, 2017

June 21, 2017

Commodity Period Price Weekly Movement
Corn CBOT July 3.69  08 cents
Soybeans CBOT July 9.19  13 cents
Wheat CBOT July 4.65  22 cents
Wheat Minn. July 6.49  22 cents
Wheat Kansas July 4.68  11 cents
Chicago Oats July 2.59  04 cents
Canadian $ September 0.7525  0.25 points

Harvest 2017 prices as of the close, June 21 are as follows:

SWW @ $219.48/MT ($5.97/bu), HRW @ $217.05/MT ($5.91/bu),
HRS @ $267.34/MT ($7.28/bu), SRW @ $217.05/MT ($5.91/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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