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Ontario's grain farmers applaud the defeat of Bill C474

GUELPH, ON (February 11, 2011) – Grain Farmers of Ontario is relieved that Canada’s science-based regulatory system was upheld after bill C474 was defeated in third reading in the House of Commons.

Bill C474 recommended changes to the Seeds Regulations that would require export market analysis to be done before any new GMO technologies pass through the Canadian regulatory process.  In Canada, new GMO traits go through a rigorous evaluation by the Canadian Food Inspection Agency before they can be grown– a clear, predictable process evaluating new technologies based on sound science.

“I just returned from a trade mission to Brussels, Belgium with Agriculture Minister Ritz where we asked the EU to take a science-based approach to trade and GM crops,” says Don Kenny, chair of Grain Farmers of Ontario.  “This bill would have undermined everything we advocated for.”

Canada exports over 30 million tonnes of grain every year to more than 70 countries worldwide.  The trade revenue to Canada from these exports is over $12 billion.

“The defeat of this bill is a real win for Ontario grain farmers.  It ensures we have access to the technology we need to increase crop yields, lower our costs, protect the environment and be competitive,” says Kenny.  “We are grateful to the many MPs who lead the defeat of this bill including Agriculture Minister Gerry Ritz.”

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 November 15, 2017

Thursday, November 16, 2017

Commodity Period Price Weekly Movement
Corn CBOT December 3.38  10 cents
Soybeans CBOT January 9.75  15 cents
Wheat CBOT December 4.20  02 cents
Wheat Minn. December 6.25  11 cents
Wheat Kansas December 4.18  02 cents
Chicago Oats December 2.69  02 cents
Canadian $ December 0.7835  0.60 points

Cash grain prices as of the close, November 15 are as follows: SWW @ $182.95/MT ($4.98/bu), HRW @ $192.33/MT ($5.23/bu), HRS @ $251.44/MT ($6.84/bu), SRW @ $187.64/MT ($5.11/bu).

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Market Trends Report for November-December 2017

Monday, November 13, 2017

US and World

Harvest time is in full swing across United States and Ontario. There have been delays, but as usual, farmers in 2017 like they have many times before are finding ways to get the crop in the bin. Yield monitors flickering on social media have been a harbinger of big yields in the United States as one of the biggest crops in American history gets closer to the finish line. How big that crop has become has been a great subject of debate over the last several months.

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On November 9th USDA chimed in with their latest crop production report. In a surprise move, which shocked the market the USDA raised 2017/2018-corn production to 14.58 billion bushels. This was on a projected yield of 175.4 bushels per acre, which was up from its October estimate of 171.8 bushels per acre. This was outside any pre-report estimates on the high side and the market responded accordingly by falling seven cents on the day. If this yield comes to fruition, it will be the largest US domestic corn yield in history. US domestic corn stocks are projected to increase to 2.49 billion bushels, a very onerous figure headed into next year.

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