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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 September 20, 2017

Wednesday, September 20, 2017

Commodity Period Price Weekly Movement
Corn CBOT December 3.50  01 cents
Soybeans CBOT November 9.70  11 cents
Wheat CBOT December 4.50  07 cents
Wheat Minn. December 6.22  12 cents
Wheat Kansas December 4.48  05 cents
Chicago Oats December 2.46  08 cents
Canadian $ December 0.8115  0.75 points

Harvest 2017 prices as of the close, September 20 are as follows:
SWW @ $190.53/MT ($5.19/bu), HRW @ $199.60/MT ($5.43/bu),
HRS @ $241.11/MT ($6.56/bu), SRW @ $195.06/MT ($5.31/bu).

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Market Trends Report for September-October 2017

Monday, September 18, 2017

US and World

Across the US corn belt American farmers are starting to harvest another huge crop. The growing season was uneven with widespread drought in the Northwest plains and quite a wet start in the Eastern corn belt. This was accentuated by somewhat dry conditions in mid-summer, but it looks like good genetics and modern farming methods have won out. As we careen into October, US farmers are set to harvest their third-largest corn crop and the largest soybean crop ever.

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On September 12th the USDA released their latest estimates of US crops. USDA estimated US corn production would come in at 14.184 billion bushels, with an average yield of 169.9 bushels per acre. This was seen as a bit of a shock to the market as traders were expecting lower yield estimates. The USDA also increased 2017/18 ending stocks to 2.335 billion bushels, up 62 million from their August report. This US crop is approximately 6% less than last year with the yield 4.7 bushels per acre lower.

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