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Increased funding for non-BRM positive for Ontario's Gran Farmers

GUELPH, ON (September 20, 2012) – The 50 percent increase to non-business risk management program funding announced by Minister of Agriculture, Gerry Ritz, is good news for Ontario’s grain farmers.  Grain Farmers of Ontario has some key opportunities for the next policy framework and the increase to funding will be required to meet our goals.

With innovation, competitiveness and market development as the overarching themes in Growing Forward 2, there are a number of opportunities in Ontario to address them.  These include investments in Ontario grain farming through science programs like the Farm Innovation Program (FIP), the Developing Innovative Agri Products (DIAP) program and the Science Clusters and market development programs like the Environmental Farm Plan and the Agri-Tech Commercialization Centre.

“Our board has set the bar high – to drive the Ontario grain industry to become a global leader,” says chair, Henry Van Ankum.  “Our members are well positioned for success but we can only achieve our goals through collaboration with government and industry.”

There are three federal programs that will be extremely important to the competitiveness of Grain Farmers of Ontario members in Growing Forward 2 – the FIP, the DIAP program and the Science Clusters.

Grain Farmers of Ontario is also supportive of the work the federal and provincial governments have been doing to encourage market growth domestically and internationally through examples like biofuels mandates and free trade negotiations with strategic countries around the world.

“As the details of the non-BRM programs in Growing Forward 2 are worked through in the next couple of months, this is a critical time for GFO to be working with government to communicate our farmers’ needs,” says Barry Senft, CEO.  “Our priority is greater access to programs for Ontario’s grain farmers in order to attain the research and market development priorities that have been set by our members.”

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 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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