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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 May 24, 2017

Wednesday, May 24, 2017

May 24, 2017

Commodity Period Price Weekly Movement
Corn CBOT July 3.71  01 cents
Soybeans CBOT July 9.48  18 cents
Wheat CBOT July 4.32  05 cents
Wheat Minn. July 5.61  20 cents
Wheat Kansas July 4.33  07 cents
Chicago Oats July 2.38  05 cents
Canadian $ June 0.7450  1.15 points

Harvest 2017 crop cash prices as of close on May 24, 2017
SWW @ $198.77/MT ($5.41/bu), HRW @ $198.77/MT ($5.41/bu),
HRS @ $227.86/MT ($6.20/bu), SRW @ $198.77/MT ($5.41/bu).

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Market Trends Report for May-June 2017

Tuesday, May 23, 2017

It is go time, that time of year when farmers across the great North American Corn Belt are busy planting their crops. Weather has been a detriment across much of the US Corn Belt as wet weather has farmers out of the fields in the southern, central and eastern US. With the USDA projecting a big soybean acreage this year and a reduction of corn acreage, weather will be the final determinate. For the week ending on May 14, 2017, the USDA had begged US corn planting at 71% and US soybeans planted at 32% just slightly behind normal.

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