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2011 Soybean Yield Challenge launched at Grain Farmers of Ontario March Classic

LONDON, ON (MARCH 21, 2011) – With over 400 farmers present, Don Kenny, chair of Grain Farmers of Ontario announced the start of the 2011 Soybean Yield Challenge. Farmers were invited to pick up their registration cards and try their hand at the prizes.

“It’s a great competition and farmers are definitely excited about it this year,” says Kenny. “It’s a really great opportunity to recognize Ontario’s elite growers and to give everyone a chance to learn from one another.”

This year’s challenge is slightly different from last year as it is split into two divisions – an IP division and a non-IP division.

“IP and non-IP soybeans require different management practices and we wanted to recognize those differences within the challenges,” says Crosby Devitt, manager of research and market development at Grain Farmers of Ontario. “The new divisions also allow us to hand out more prizes, which is always fun.”

The challenge is still separated into heat unit zones and winners will be chosen in each zone within each division. Two grand prizes will be awarded to the IP farmer and the non-IP farmer with the highest yield. Both farmers will win a trip for two to the National Farm Machinery Show in Louisville, Kentucky.

Winners in each zone in each division will win a cash prize of their yield multiplied by their bushels per acre. Runners up in each zone will win admission to Canada’s Outdoor Farm Show and their local farm show – London, Ottawa or Toronto.

The IP prizes are made possible by DuPont and the non-IP prizes are made possible by Monsanto.

Farmers can collect registration cards from Grain Farmers of Ontario or the industry sponsors of the competition: Monsanto, DuPont, Pioneer Hi-Bred, Hyland Seeds, Syngenta Seeds, Mycogen Seeds, Dekalb, Maizex Seeds, Country Farm Seeds and SeCan.

Challenge information, including rules and a downloadable registration card is also available at www.gfo.ca/soybeanyieldchallenge.

The deadline to register is July 29, 2011.

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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Commodity Period Price Weekly Movement
Corn CBOT March 3.65 ↑ 01 cents
Soybeans CBOT March 10.33 ↑ 14 cents
Wheat CBOT March 4.48 ↓ 06 cents
Wheat Minn. March 6.01 ↑ 01 cents
Wheat Kansas March 4.66 ↓ 09 cents
Chicago Oats March 2.59 ↓ 08 cents
Canadian $ March 0.7890 ↓ 1.03 points

Cash Grain prices as of the close, February 21, are as follows: SWW @ $205.96 ($5.61/bu), HRW @ $203.63/MT ($5.54/bu), HRS @ $231.13/MT ($6.29/bu), SRW @ $201.30/MT ($5.48/bu).

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Market Trends Report for February-March 2018

Monday, February 12, 2018

The winter season in North America is often one of hopes and dreams. With the January 2018 USDA report a month old the scope of the 2017 crop is now becoming a memory. Farmers have turned the page and will soon be planting corn in places like Texas. However, in the southern hemisphere corn and soybean crops are growing in the field and affecting prices every day. While the northern hemisphere freezes under the snow, weather in Argentina and Brazil has been defining the initial grain fundamentals for 2018.

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On February 8th, the USDA released its latest World Supply and Demand Estimates. (WASDE) The USDA lowered US corn ending stocks to 2.352 billion bushels down 125 million bushels from last month. This was totally related to an increase in US corn exports by the same amount. This was attributed to a weakened US dollar and reduction in both Argentinian and Ukrainian corn exports. Hot weather in Argentina had USDA lowering their corn production 2.8 MMT to 39 MMT. USDA maintained Brazil corn production of 95 MMT.

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