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Grain Farmers of Ontario pleased with permanent risk management program

GUELPH, ON (June 29, 2011) – Grain Farmers of Ontario is pleased with the details that were finalized earlier this month regarding the permanent Risk Management Program and announced for Ontario’s 28,000 grain farmers by Minister Carol Mitchell today. 

The program was designed by farmers for farmers to insure their businesses against risk factors out of their control like commodity price volatility, currency fluctuations and unexpected input cost increases.

“We have been looking forward to the day our program was made permanent since our pilot Risk Management Program began in 2007,” says Don Kenny, Chair of Grain Farmers of Ontario.  “We are thankful to our Minister of Agriculture, Carol Mitchell for her hard work and dedication to Ontario’s farmers.”

Program applications for grain farmers will be available in August and the program will continue to be delivered through Agricorp.  All grain farmers are eligible for the Risk Management Program and premiums have been waived for the 2011 crop year.

Grain Farmers of Ontario would like to thank Premier McGuinty and our Ontario MPPs who recognize the value of a strong agricultural sector in this province.  

“We appreciate and look forward to having this permanent Risk Management Program for Ontario’s farmers,” says Kenny.

Details about the program are available at www.ontario.ca/rmp, by calling 1-877-424-1300, or by sending an email to rmpinfo@ontario.ca.

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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