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Optimism for Ontario grain exports to the European Union

GUELPH, ON (February 24, 2011)  – Grain Farmers of Ontario is optimistic about the approval of a proposal earlier this week that would allow animal feed that contains trace elements of genetically modified (GM) material to be imported into the European Union (EU).

On February 22, the EU Member States approved a new rule that, if adopted by the European Commission, will accept up to 0.1 percent GM material in imported animal feed.

Last month, Agriculture Minister Gerry Ritz and Grain Farmers of Ontario chair, Don Kenny travelled to Brussels, Belgium to advocate for a GM tolerance level for future shipments. Meetings were held with EU Commissioners, Members of Parliament and key industry representatives to emphasize the importance of supporting science-based trade regulations.

The EU is Canada’s largest export market for soybeans. “In 2009, Canada exported approximately a million tonnes of soybeans to the EU,” says Kenny. “Allowing a low-level presence of unapproved GM in grain shipments would remove a barrier to future exports and provide security for Ontario grain farmers.”

2010 was a phenomenal year for soybean production in Ontario, Quebec and Manitoba as a record 4.2 million tonnes were produced. Of this production, approximately 2.7 million tonnes will be exported.

This approval by the EU is promising and Grain Farmers of Ontario looks forward to a solution that also includes access for Canadian grains for uses in food. 

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 August 16, 2017

Wednesday, August 16, 2017

Commodity Period Price Weekly Movement
Corn CBOT September 3.52  20 cents
Soybeans CBOT November 9.25  53 cents
Wheat CBOT September 4.20  44 cents
Wheat Minn. September 6.73  60 cents
Wheat Kansas September 4.20  24 cents
Chicago Oats September 2.60  10 cents
Canadian $ September 0.7898  0.15 points

Harvest 2017 prices as of the close, August 16 are as follows:
SWW @ $182.43/MT ($4.96/bu), HRW @ $189.46/MT ($5.16/bu),
HRS @ $254.49/MT ($6.93/bu), SRW @ $187.11/MT ($5.09/bu).

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Market Trends Report for August-September 2017

Monday, August 14, 2017

US and World

It has been an uneven growing season in much of the American corn belt. The Western corn belt has been dry especially in the Dakotas, while the mid south and Eastern corn belt were inundated with heavy rains earlier in the spring. The forecast in late July turned cooler and wetter for all of the American corn belt. This new forecast essentially changed much of the outlook for the American crop, but still many analysts were expecting lower August USDA numbers reflecting some of the earlier tough conditions for US corn and soybeans. Anticipation of the August 10th USDA report was filled with expectations of lower yield projections.

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On August 10th, the USDA lowered their projected corn yield estimate to 169.5 bushels per acre down from their earlier projection of 170.7 bushels per acre and less than last year's 174.6 bushels per acre. At the same time the USDA raised soybean yield expectations to 49.4 bushels per acre up from their 48 bushels per acre earlier estimate. This pegged 2017/18-soybean production at 4.4 billion bushels. Both of these USDA estimates rocked the grain market August 10th, as it was a big surprise. With so much uneven weather affecting this crop in the field a US corn yield of 165-166 bushels per acre was a general trade estimate. Futures prices plummeted on this very bearish report.

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