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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 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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