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Trans Pacific Partnership great news for Ontario grain farmers

GUELPH, ON (June 21, 2012) – The recent announcement that Canada has officially received an invitation to join the Trans Pacific Partnership trade negotiations is great news for Ontario’s grain farmers.

Official talks about the details and terms of this trade agreement won’t take place until the fall. Until that time, the federal government and commodity groups will consider all options and outcomes surrounding this partnership that will encourage business opportunities for Canadian farmers.

“The announcement that Canada is moving forward with Trans Pacific trade talks is very positive,” says Grain Farmers of Ontario chair Henry Van Ankum.  “Our organization encourages the Canadian government’s continued efforts to develop new markets and reduce trade barriers for Ontario’s grain farmers.”

Grain Farmers of Ontario supports the Canadian governments’ participation in the Trans Pacific Partnerships trade negotiations because of the large volume of soybean exports to this region. In 2010, exports to counties already in the Trans Pacific Partnership made up 43 percent of the total exports of Canadian soybeans.

If Japan is also given a seat at the negotiations it will provide the best opportunity for market growth for Ontario’s grain farmers.  Japan is an integral part of expanding our international markets, as it is estimated that Canada holds a 38% share of Japans food grade market for soybeans. 

“If both countries enter the Trans Pacific Partnership, Canada’s relationship with Japan for exports will potentially strengthen and in turn benefit Ontario farmers,” comments Van Ankum. 

Grain Farmers of Ontario encourages the Canadian government to continue the positive work to develop new markets and reduce trade barriers for Ontario’s grain farmers.  

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.

Contact:

Barry Senft, CEO - 1-800-265-0550; bsenft@gfo.ca

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Grain Market Commentary for May 31, 2017

Wednesday, May 31, 2017

May 31, 2017

Commodity Period Price Weekly Movement
Corn CBOT July 3.71  01 cents
Soybeans CBOT July 9.26  22 cents
Wheat CBOT July 4.30  02 cents
Wheat Minn. July 5.72  11 cents
Wheat Kansas July 4.31  01 cents
Chicago Oats July 2.48  10 cents
Canadian $ June 0.7402  0.45 points

Harvest 2017 crop cash prices as of close on May 31, 2017
SWW @ $198.22/MT ($5.39/bu), HRW @ $198.22/MT ($5.39/bu),
HRS @ $233.70/MT ($6.36/bu), SRW @ $198.22/MT ($5.39/bu).

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Market Trends Report for June-July 2017

Monday, June 12, 2017

It is a critical time of the year for grain markets. Across the US corn belt as well as Ontario, farmers have been planting since mid April. It continues. As of May 28th 91% of US corn has been planted and 67% of US soybeans. There are wide variations on this theme as the Eastern and Southern corn belt has seen more of its share of wet weather causing many planting delays. As we move into late June it is a time where the US crop is setting up to be made and marketing decisions for that crop are accentuated by market volatility. The June 9th USDA report gave us another indication of the supply of grain in the US and around the world.

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