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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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Commodity Period Price Weekly Movement
Corn CBOT March 3.65 ↑ 01 cents
Soybeans CBOT March 10.33 ↑ 14 cents
Wheat CBOT March 4.48 ↓ 06 cents
Wheat Minn. March 6.01 ↑ 01 cents
Wheat Kansas March 4.66 ↓ 09 cents
Chicago Oats March 2.59 ↓ 08 cents
Canadian $ March 0.7890 ↓ 1.03 points

Cash Grain prices as of the close, February 21, are as follows: SWW @ $205.96 ($5.61/bu), HRW @ $203.63/MT ($5.54/bu), HRS @ $231.13/MT ($6.29/bu), SRW @ $201.30/MT ($5.48/bu).

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Monday, February 12, 2018

The winter season in North America is often one of hopes and dreams. With the January 2018 USDA report a month old the scope of the 2017 crop is now becoming a memory. Farmers have turned the page and will soon be planting corn in places like Texas. However, in the southern hemisphere corn and soybean crops are growing in the field and affecting prices every day. While the northern hemisphere freezes under the snow, weather in Argentina and Brazil has been defining the initial grain fundamentals for 2018.

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On February 8th, the USDA released its latest World Supply and Demand Estimates. (WASDE) The USDA lowered US corn ending stocks to 2.352 billion bushels down 125 million bushels from last month. This was totally related to an increase in US corn exports by the same amount. This was attributed to a weakened US dollar and reduction in both Argentinian and Ukrainian corn exports. Hot weather in Argentina had USDA lowering their corn production 2.8 MMT to 39 MMT. USDA maintained Brazil corn production of 95 MMT.

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