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Grain Farmers of Ontario conference theme announces - "Agriculture - Ontario's Economic Superpower"

GUELPH, ON (February 15, 2011) Grain farmers in Ontario will have lots to celebrate at this year’s GFO March Classic on March 21st. Grain prices, sector growth and optimism are making agriculture a key industry for the province.  Our success has inspired the theme for this year’s conference: ‘Agriculture – Ontario’s Economic Superpower’.

The latest figures from Statistics Canada show that while the total revenue of the manufacturing industry has fallen by 10 percent in Ontario over five years, the agriculture and agri-food sub-section has enjoyed 11 percent growth over the same period.  The January Agriculture Business Barometer from the Canadian Federation of Independent Business (CFIB) indicates optimism levels in the agriculture sector are at a four year high. 

“The information shared from this year’s speakers at the March Classic will build on this success,” says GFO CEO, Barry Senft. “Our vision is to drive our industry to become a global leader and the 21st of March will be the catalyst.”

Global business leaders will present in the afternoon of the GFO March Classic to discuss opportunities and challenges for farmers in a global context.  GFO’s farmer members will learn business strategies and market insight from agribusiness leaders intended to inspire business planning beyond the farm gate.

“Ontario’s farmers are in an ideal economic and social climate right now with higher grain prices, the buy local movement creating niche opportunities and world markets opening through new trade agreements,” says Senft.  “We hope the conference is the launch for major industry growth over the next few years.”

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 July 19, 2017

Wednesday, July 19, 2017

Commodity Period Price Weekly Movement
Corn CBOT September 3.82  03 cents
Soybeans CBOT November 10.12  25 cents
Wheat CBOT September 5.03  32 cents
Wheat Minn. September 7.75  06 cents
Wheat Kansas September 5.00  44 cents
Chicago Oats September 2.93  11 cents
Canadian $ September 0.7950  1.00 points

Harvest 2017 prices as of the close, July 19 are as follows:
SWW @ $218.72/MT ($5.95/bu), HRW @ $218.72/MT ($5.95/bu),
HRS @ $289.01/MT ($7.87/bu), SRW @ $217.90/MT ($5.93/bu).

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Special Post June 30 USDA Market Trends Report

Tuesday, July 04, 2017

US and the World

It can be an explosive time in the grain markets. Across the greater US corn belt corn, soybeans and wheat are showing great variability as we head into July. Historically, the July 4th weekend has always served as a market flashpoint as crops start to develop quickly and summer weather makes its impact. The June 30th USDA planted acreage estimates and quarterly stocks report also impact the market at this critical time. In 2017, we are here again and once again the USDA did provide some surprises for market action.

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In their June 30th USDA report many market observers were musing that US soybean acres may overtake US corn acres planted. However, that was not the case as USDA predicted US corn planting at 90.89 million acres and US soybean planting coming in at 89.51 million acres. US corn acreage is down 3.11 million acres from last year. The US soybean acreage was approximately 440,000 acres below pre report estimates, but still 7% higher than last year. All wheat acreage came in at approximately 45.66 million acres, which was the lowest since the USDA began keeping records in 1919.

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