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Grain Farmers of Ontario launches online RMP calculator

GUELPH, ON (August 16, 2011) – Grain Farmers of Ontario is once again launching an online Risk Management Program calculator to coincide with the release of the 2011 program applications, mailed the first week of August by Agricorp.

The changes in the 2011 RMP calculator reflect the recent program details announced for the first year of the permanent program namely; premiums are set to zero for the 2011 program year and the coverage level is fixed to 100% for the first year of the program.  Due to the timing of the release of the RMP calculator, before pre-harvest payment information is known, pre- and post-harvest prices are estimated with ranges built into the calculator for farmers to use to adjust prices based on their own price predictions. The calculator will be updated with actual pre- and post- harvest price information when they are available.

“This online calculator is a great resource for farmers interested in running different marketing scenarios using the actual numbers from the Risk Management Program,” says Barry Senft, CEO of Grain Farmers of Ontario.  “With no premium required for 2011 and 100 percent coverage for the provincial portion of the program, we hope for a high participation rate this year.”

Grain Farmers of Ontario is pleased with the details that were finalized regarding the permanent Risk Management Program and announced for Ontario’s 28,000 grain farmers by Minister Carol Mitchell. 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.

The RMP calculator is available on the Grain Farmers of Ontario website at www.gfo.ca/rmp

If you have any additional questions about the details of the permanent Risk Management Program there are three ways to get answers:

  • For questions regarding the application process, deadlines or program details contact Agricorp at 1-877-257-1380.
  • For questions about the design of the program, future considerations or any other general questions about the program contact Erin Fletcher at Grain Farmers of Ontario at efletcher@gfo.ca or 519-767-4137.
  • This program is offered through the Ontario Ministry of Agriculture, Food and Rural Affairs.  Information about the program can be found on their website at http://www.omafra.gov.on.ca/english/about/rmp/rmpgrain.htm.

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 December 6, 2017

Wednesday, December 06, 2017

Commodity Period Price Weekly Movement
Corn CBOT March 3.52  01 cents
Soybeans CBOT January 10.03  10 cents
Wheat CBOT March 4.25  10 cents
Wheat Minn. March 6.14  09 cents
Wheat Kansas March 4.23  06 cents
Chicago Oats March 2.48  15 cents
Canadian $ December 0.7835  0.50 points

Cash Grain prices as of the close, December 6, are as follows: SWW @ $178.23/MT ($4.85/bu), HRW @ $187.61/MT ($5.11/bu), HRS @ $238.74/MT ($6.50/bu), SRW @ $182.92/MT ($4.98/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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