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A successful first fiscal year for Grain Farmers of Ontario

GUELPH, ON (September 16, 2011) – At the September 8, 2011 Grain Farmers of Ontario Annual General Meeting, farmer members learned of the many ways the organization added value to its members in 2011 and of the surplus position of the organization that has led to a reduction in license fees for the 2012 crop year.

In addition to the positive reports from the organization’s leadership, delegates and members came together to have meaningful discussion on issues and resolutions that will affect farmer-members in the future.

“The financial reports for Grain Farmers of Ontario's first full fiscal year are very positive, ending with an operating surplus of $4 million,” said Grain Farmers of Ontario finance manager Tom Farfaras in his presentation. “This surplus is due to the record yields and quality of the 2010 crop.”

The meeting also featured interesting speakers including David Phillips from Environment Canada who shared his thoughts on overarching weather trends and why weather seems to matter so much to Canadians, especially farmers. Attendees also had an opportunity to hear from John DePutter who spoke on market trends and provided insight into both the current market conditions and future opportunities.

To see the detailed reports from each manager at Grain Farmers of Ontario and for a complete look at our financial statements, see our Annual Report here: http://gfo.ca/Annual-Report

The financials will also appear in the October issue of the Ontario Grain Farmer magazine.

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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The 2017 Grain Farmers of Ontario Annual Report is now available.

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Weekly Commentary

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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

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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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