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Food vs. Fuel: the debate is over

GUELPH, ON (April 26, 2011) – A new study released by the Grain Farmers of Ontario should put an end to the ongoing debate of whether the grain we grow should be used for food or fuel.  We can and should do both.

The abundance of grain grown by farmers around the world and here in Ontario can both protect the environment and feed the world.  As farm yields climb and investments are made in farm production in the developing world, feeding and fueling the world can even be done cost effectively.

“My corn yields have increased by 35 percent since I started farming in 1975,” says Don Kenny who farms just outside of Ottawa and is the chair of Grain Farmers of Ontario.  “I am confident that my land will continue to be productive and that new products and technologies will ensure my family supplies our local livestock market and the ethanol plant down the road for many years to come.”

According to the study by Dr. Terry Daynard and KD Communications, by including an average of just 5% ethanol in regular gasoline, Canadians are reducing greenhouse gas emissions by 2.3 million tonnes annually while saving money.  Five percent ethanol blending has reduced annual family gasoline expenditures by more than $100 per year.  Ethanol is also credited with replacing hazardous compounds in gasoline used for octane enhancement and increasing engine efficiency. 

There is also good news for the world’s food supply. Food demands around the world are growing by 1.1% per year according to the Food and Agriculture Organization of the United Nations. Fortunately, the Grain Farmers of Ontario study reveals that global grain production has increased by 1.5% per year over the past 20 years. With increasing resources now being directed to agricultural development in some of the world’s hungriest countries, especially in Africa, there is optimism that we will continue to grow the crops and increase production where the need is greatest.

“Quite frankly, it is a relief for us to learn that production of biofuels, like ethanol, here in Ontario makes such a positive contribution to our environment without any notable impact on overall food prices and the world’s ability to supply food,” says Barry Senft, CEO for Grain Farmers of Ontario.  “Regardless of this discussion, our farmers are dedicated to growing a sufficient supply of food for Canadian families”.

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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